Bonaqua® Officially Launches Its First Individual Sale Label-less Bottled Water Anywhere in the World

5-day “Bonaqua® Green Market Fair” Promotes Sustainability

HONG KONG SAR – Media OutReach – 26 May 2022 – Bonaqua®, the leading bottled water brand[1], is bringing its first individual sale label-less bottled water anywhere in the world to shelves across all channels in Hong Kong. The potentially game-changing design uses fewer packaging materials and improves bottle recyclability.

Mr. Tim Warwick

Bonaqua’s First Individual Sale Label-less Bottled Water Anywhere in the World

The locally produced Bonaqua® Mineralized Water uses 100% rPET for production, and makes its bottle 52.8%[2] lighter than the conventional PET bottle. Using laser incising technology to highlight product information on the bottle and having a bottle cap (also smaller than the conventional bottle cap) with a sales barcode enables individual sale of the products. The design and the products’ broader availability allows more Hong Kong consumers to participate in building a world without waste. The effort echoes Bonaqua®’s commitment to sustainable solutions and inspiring more consumers to adopt sustainable lifestyles.

New Green Community Program Is About to Start

Bonaqua® is committed to promoting sustainable development throughout the years, e.g. conducting community sustainability awareness campaigns, e.g., the ‘Power of Less’ campaign. This year, partnering with its bottling partner Swire Coca-Cola Hong Kong, Bonaqua® will contribute HK$ 2 million for piloting a community packaging waste recovery program aiming to collect and recycle used bottles or cans in a more efficient approach.

Green Market Fair Promotes Sustainable Lifestyles

Bonaqua® is delighted to present the inaugural Green Market Fair, to be held at the Steam Hub on the first floor of Central Market from 26 to 30 May 2022. It will feature a series of exhibits and various workshops, allowing visitors to practice recycling and sustainable living. Four Eco workshops, curated by local artists to highlight the potential use of sustainable materials in handicraft, art, and fashion.

“As Hong Kong’s most popular bottled water brand, it’s a bold move for Bonaqua® to pilot the launch of its individual sale label-less bottled water anywhere in the world. We are indeed championing a potentially game-changing form of future packaging. By making the Bonaqua label-less bottled water available to a broader range of customers, we would like to invite more consumers to take part in building a world without waste. By going label-less, Bonaqua is enhabling the ‘Power of Less’,” says Tim Warwick, Vice President of Operations for Hong Kong, Taiwan, Macau and Mongolia at The Coca-Cola Company.

“As Coca-Cola’s bottling partner, we will continue to leverage our expertise and develop new manufacturing technologies so as to offer consumers even more eco-friendly beverage choices. We weave sustainability into the fabric of our endeavors, including design, sourcing, production and delivery. It is our mission to contribute to a more sustainable way of living,” says Connie Yeung, Director and General Manager of Swire Coca-Cola HK.

To learn more about the Bonaqua® label-less mineralized water, customers can contact the Swire Coca-Cola Hong Kong customer service hotline at +852 2210 3888. They can also purchase the products via the current distribution channels and Swire Coca-Cola HK eShop (www.swirecocacolahk.com) and enjoy complimentary local delivery service when they spend a specific amount.

Details of “Bonaqua® Green Market Fair”

Dates: 26 – 30 May 2022
Time: 10 am – 8 pm
Location : Steam Hub, 1/F of Central Market
Free workshops : “Art Print Drawstring Bags”

26 May, 4 to 5 pm

28 May, 12 to 1 pm

29 May, 12 to 1 pm

“Multi-Purpose Water Bottle Holders”

26 May, 6 to 7 pm

27 May, 12 to 1 pm

30 May, 12 to 1 pm

“Graffiti Art T-shirts”

27 May, 4 to 5 pm

30 May, 4 to 5 pm

“Eco-Friendly Double-Sided Shoulder Bags”

28 May, 4 to 6 pm

29 May, 4 to 6 pm

Registration :

Walk-in applications at the event venue are available on a first-come, first-served basis.


[1] 1 Nielsen MarketTrack Service data shows that Bonaqua® was ranked first in Sales Volume (Litre) in the Packaged Water category for the 15-year period ending November 2021 for Total Supermarkets, CVS, Drug Stores, Provision Stores and Soft Drink Outlets in Hong Kong.

[2] Bonaqua®’s 500 ml bottle weighs 11.8g, which is lighter than the typical PET bottle found in the market, which weighs 18 – 32g. (Source: New Life Plastics Ltd – https://www.nlplastics.com.hk/pet-hdpe/)

About The Coca-Cola Company

The Coca-Cola Company is a total beverage company, offering over 500 brands in more than 200 countries. In Hong Kong, the company has a portfolio covering sparkling, sweetened and unsweetened tea, juice, sports drink, water, enhanced hydration beverages, etc. We have 15 brands offering 70 different variants such as “Coca-Cola”, “Coca-Cola No Sugar”, “Coke Plus”, “Sprite”, “Fanta”, “Schweppes”, “OOHA”, “Bonaqua” Mineralized Water, “Authentic Tea House”, “Minute Maid”, “Minute Maid Qoo”, “Glaceau vitaminwater”, “Yeung Gwong”, “Aquarius”, “Healthworks”, and “Kochakaden” CRAFTEA”. We are constantly transforming our portfolio, from reducing sugar in our drinks to bringing innovative new products to market. Learn more at and follow us on Facebook and Instagram.

#Bonaqua

Spackman Media Group Artist Son Suk-Ku To Star In Upcoming Netflix Original K-Drama, MURDEROUS TOY

  • Spackman Media Group artist Son Suk-ku is set to headline in new Netflix original K-drama, MURDEROUS TOY
  • Son Suk-ku’s latest film THE ROUNDUP, a sequel film to the 2017 hit THE OUTLAWS, achieved the highest ticket sales since FROZEN 2 (2019) and maintained its #1 position at the Korean box office as of May 24
  • Son Suk-ku of Spackman Media Group topped the most popular actor in Korea for four weeks in a row, and his drama MY LIBERATION NOTES, maintained its #1 spot in TV drama rankings in Korea for three consecutive weeks as of May 24

SINGAPORE – Media OutReach – 26 May 2022 Spackman Entertainment Group Limited (the “Group“), one of Korea’s leading entertainment production groups founded in 2011 by media & technology investor Charles Spackman, wishes to announce that the Son Suk-ku of the Group’s associated company, Spackman Media Group Limited (“Spackman Media Group“), is set to star in upcoming Netflix original K-drama, MURDEROUS TOY.

Other than Son Suk-ku of Spackman Media Group, MURDEROUS TOY also stars Choi Woo Shik of the film PARASITE (2019). Produced by Showbox, MURDEROUS TOY is a comedy thriller drama based on the popular webtoon series of the same name. The story revolves around an ordinary man (played by Choi Woo Shik) who murders a serial killer on the loose. After committing the crime, he runs for his life as he is chased by a skilled detective (played by Son Suk-ku of Spackman Media Group).

Filming for MURDEROUS TOY is scheduled to begin in the second half of this year. MURDEROUS TOY is directed by Lee Chang Hee of the drama HELL IS OTHER PEOPLE (2019) and the film THE VANISHED (2018).

Son Suk-ku is represented by SBD Entertainment Inc. (“SBD Entertainment“), a wholly-owned subsidiary of Spackman Media Group.

With the release of his latest drama MY LIBERATION NOTES and film THE ROUNDUP, Son Suk-ku topped the most popular actor in Korea for four weeks in a row, according to Good Data TV Popularity Research as of May 24. Based on the same data research, MY LIBERATION NOTES, starring Son Suk-ku of SBD Entertainment, maintained its #1 spot in TV drama rankings in Korea for three consecutive weeks.

Son Suk-ku’s film THE ROUNDUP, a sequel film to the 2017 hit THE OUTLAWS, achieved the best ticket sales since FROZEN 2 in 2019 and maintained its #1 position at the Korean box office as of May 24. The film was pre-sold to 132 countries around the world, including Singapore, China, Thailand, Vietnam, Indonesia and France, as well as the regions of North America and Eastern Europe.

Other than Son Suk-ku, SBD Entertainment also represents one of Korea’s rapidly rising young actors, Han Ji-hyun of popular K-drama THE PENTHOUSE 3, who won the Best Rookie Female Actor in the 2021 Brand Customer Loyalty Awards in Korea and endorsed luxury brand Gucci in April 2021.

About Spackman Entertainment Group Limited

Spackman Entertainment Group Limited (“SEGL” or the “Company“), and together with its subsidiaries, (the “Group“), is one of Korea’s leading entertainment production groups. SEGL is primarily engaged in the independent development, production, presentation, and financing of theatrical motion pictures in Korea.

The Company was founded in 2011 by renowned media and technology investor Charles Spackman who served as the Company’s Executive Chairman until 2017. For the past two decades, Mr. Charles Spackman has been a powerhouse in the Korean entertainment industry starting in the early 2000’s with the pioneering success of Sidus Pictures, the largest movie production company at the time and the first to be listed in Korea. Mr. Spackman is also the Founder, Chairman and Chief Executive Officer of the global investment firm, Spackman Group. For more information, please visit and .

Since its founding, SEGL had produced more than 30 major motion pictures including a number of the highest grossing and award-winning films in Korea, namely #ALIVE (2020), CRAZY ROMANCE (2019), DEFAULT (2018), MASTER (2016), THE PRIESTS (2015), SNOWPIERCER (2013), COLD EYES (2013) and ALL ABOUT MY WIFE (2012).

Our films are theatrically distributed and released in Korea and overseas markets, as well as for subsequent post-theatrical worldwide release in other forms of media, including online streaming, cable TV, broadcast TV, IPTV, video-on-demand, and home video/DVD, etc. Generally, we release our motion pictures into wide-theatrical exhibition initially in Korea, and then in overseas and ancillary markets.

The Group also invests into and produces Korean television dramas. In addition to our content business, we also own equity stakes in entertainment-related companies and film funds that can financially and strategically complement our existing core operations. SEGL is listed on the Catalist of the Singapore Exchange Securities Trading Limited under the ticker 40E.

Production Labels

SEGL owns Novus Mediacorp Co., Ltd. (“Novus Mediacorp“), an investor, presenter, and/or post-theatrical distributor for a total of 79 films (58 Korean and 21 foreign) including ROSE OF BETRAYAL, THE OUTLAWS and SECRETLY, GREATLY, which was one of the biggest box office hits of 2013 starring Kim Soo-hyun of MY LOVE FROM THE STARS, as well as FRIEND 2: THE GREAT LEGACY. In 2012, Novus Mediacorp was also the post-theatrical rights distributor of ALL ABOUT MY WIFE, a top-grossing romantic comedy produced by Zip Cinema. In 2018, THE OUTLAWS, co-presented by Novus Mediacorp broke the all-time highest Video On Demand (“VOD“) sales records in Korea. For more information, please visit

The Company owns a 100% equity interest in Simplex Films Limited (“Simplex Films“) which is an early stage film production firm. The maiden film of Simplex Films, JESTERS: THE GAME CHANGERS (2019), was released in Korea on 21 August 2019. Simplex Films has several line-up of films including HURRICANE BROTHERS (working title).

The Company owns a 100% equity interest in Take Pictures Pte. Ltd. (“Take Pictures“) which produced STONE SKIPPING (2020) and THE BOX (2021), and shall release THE GUEST in the second half of 2022 and A MAN OF REASON, with the previous working title GUARDIAN in 2022 tentatively.

The Company owns a 100% equity interest in Greenlight Content Limited (“Greenlight Content“) which is mainly involved in the business of investing into dramas and movies, as well as providing consulting services for the production of Korean content. Through the acquisition of Greenlight Content, the Group’s first co-produced drama, MY SECRET TERRIUS, starring top Korean star, So Ji Sub, achieved #1 in drama viewership ratings for its time slot and recorded double digits for its highest viewership ratings. Greenlight Content was one of the main investors of MY SECRET TERRIUS.

The Company owns a 20% equity interest in The Makers Studio Co. Ltd., which plans to produce and release four upcoming films, the first of which will be THE ISLAND OF THE GHOST’S WAIL, a comedy horror film.

Talent Representation

The Company holds an effective shareholding interest of 43.88% in Spackman Media Group Limited (“SMGL“). SMGL, a company incorporated in Hong Kong, together with its subsidiaries, is collectively one of the largest entertainment talent agencies in Korea in terms of the number of artists under management, including some of the top names in the Korean entertainment industry. SMGL operates its talent management business through renowned agencies such as MSteam Entertainment Co., Ltd. (Son Ye-jin, Wi Ha-jun, Lee Min-jung, Ko Sung-hee), SBD Entertainment Inc. (Son Suk-ku, Han Ji-hyun, Lee Cho-hee, Park Keun-rok), UAA&CO Inc. (Kim Sang-kyung, Kim Hye-ri, Kim Ji-young, Wang Ji-won), Play Content Co., Ltd. (Kang Min-ji, Hwang-hwi) and Kook Entertainment Co., Ltd. (Baek Si-won, Shin Ji-woong). Through these full-service talent agencies in Korea, SMGL represents and guides the professional careers of a leading roster of award-winning actors/actresses in the practice areas of motion pictures, television, commercial endorsements, and branded entertainment. SMGL leverages its unparalleled portfolio of artists as a platform to develop, produce, finance and own the highest quality of entertainment content projects, including theatrical motion pictures, variety shows and TV dramas. This platform also creates and derives opportunities for SMGL to make strategic investments in development stage businesses that can collaborate with SMGL artists. SMGL is an associated company of the Company. For more information, please visit

The Company owns a 100% equity interest in Constellation Agency Pte. Ltd. (“Constellation Agency“). Constellation Agency, which owns The P Factory Co., Ltd. (“The P Factory“) and Platform Media Group Co., Ltd. (“PMG“), is primarily involved in the business of overseas agency for Korean artists venturing into the overseas market. The P Factory is an innovative marketing solutions provider specializing in event and branded content production. PMG is a talent management agency which represents and manages the careers of major artists in film, television, commercial endorsements and branded entertainment.

Strategic Businesses

The Company also operates a café-restaurant, Upper West, in the Gangnam district of Seoul and own a professional photography studio, noon pictures Co., Ltd.

For more details, please visit

#SpackmanEntertainmentGroupLimited

NIRSAL, Credit Agricole renew their collaboration agreement

Credit Agricole du Maroc (CAM) has renewed a cooperation agreement signed in 2016 with the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) to promote innovative agricultural financing solutions.

On Monday, May 23, Credit Agricole announced that it received a delegation from NIRSAL to renew their cooperation agreement and strengthen their collaboration with a new agreement.

Since the initial agreement was signed in 2016, Credit Agricole and NIRSAL have developed a roadmap for deploying their partnership along areas of mutual interest.

The new memorandum of understanding signed today consolidates the two partners’ achievements over the last six years, including investments to stimulate the development of a sustainable agriculture in Nigeria.

The new agreement also emphasizes encouraging agricultural financing innovation and promoting financial inclusion in the country.

According to Credit Agricole du Maroc, “the new aspects of the partnership between CAM and NIRSAL represent a firm commitment to its strategic role in financial inclusion for African agriculture.”

The Central Bank of Nigeria owns NIRSAL, which aims to “increase the flow of affordable finance and investments into the agricultural sector by de-risking the agriculture & agribusiness finance value chain.”

The institution also works to incentivize and institutionalize agricultural investments.

Morocco and Nigeria’s agricultural cooperation has improved in recent years.

Nigeria is a major market for Morocco’s OCP Group. In addition to being a major importer of fertilizers and other phosphate-derived products, the West African powerhouse is one of the countries where OCP Africa operates to finance and train farmers.

Nigeria recently sent 200 of its young farmers to Morocco and Israel for formal training, citing the North African country’s leadership in the field as one of the reasons for their selection.

Diaspora Housing Scheme to be Launched by NIDCOM and Mortgage Bank

Hon Abike Dabiri-Erewa, Chairman/CEO of the Nigerians in Diaspora Commission (NiDCOM), has stated that a comprehensive Diaspora Housing Mortgage Scheme will be launched soon.

According to a statement signed by Gabriel Odu of the Media, Public Relations and Protocols Unit, NIDCOM, Abuja, the NIDCOM boss stated this when she visited the Management and staff of the Federal Mortgage Bank of Nigeria (FMBN) in Abuja.

This follows the completion of the final stages of the Diaspora Housing Mortgage Policy by both agencies.

According to Dr. Dabiri-Erewa, Nigeria is the highest Diaspora-remitting country in Sub-Saharan Africa, with over 19 billion dollars in 2021, according to the World Bank, and assisting them to own their own houses is the least of incentives for Nigerians abroad who tirelessly contribute to the country.

Furthermore, the NiDCOM boss stated that this move will encourage Nigerians in the Diaspora to do more for the country, resulting in a win-win situation.

Dabiri-Erewa went on to say that the Scheme aims to enable Nigerians in Diaspora to open mortgage accounts, participate in the National Housing Fund (NHF) scheme, access loans up to N50 million, and own homes through certified developers, all from the comfort of their homes.

 

In addition, the NIDCOM Chairman/CEO explained that the package is available to any Nigerian (over the age of 18) living in the Diaspora who has evidence of a regular flow of income and has made contributions for a minimum of one year before being eligible to access the mortgage loan.

Applicants will also apply for the mortgage loan through an accredited Primary Mortgage Bank after contributing for the applicable minimum period.

Following that, applicants will register with the NHF and contribute $150 (for beneficiaries earning $3,000 or less per month) or $200 (for beneficiaries earning $3,001 or more per month) for a minimum of a year.

The package also includes a 30% down payment, a single-digit interest rate of 9%, and a payback period of up to ten years.

Meanwhile, she took the opportunity to congratulate Mr. Madu Hamman, the new FMBN managing director/chief executive, and urged him to build on the impressive achievements of his predecessors. Mr. Madu Hamman agreed that the work to make the Scheme a reality had been completed.

However, he stated that the Scheme would have been launched earlier in the year, citing a change in leadership at the FMBN as a factor.

Mr. Hamman promised that the FMBN Diaspora Housing Mortgage Scheme would be launched in earnest to provide a transparent, seamless platform for Nigerians in Diaspora to invest in and own homes in Nigeria.

 

The NiDCOM/FMBN Committee has been given until the end of May to complete preparatory work for the launch of the Scheme proposed for London, according to the statement.

Meta Makes Its Political Ad Targeting Data Available

Meta, the owner of Facebook, has responded to calls for greater transparency in its ad targeting for political advertising.

The social media and advertising platform announced on Monday, May 23, that detailed targeting information for social issues, electoral or political ads will be made available to vetted academic researchers via the Facebook Open Research and Transparency (FORM) environment. By the end of this month, the data will be available.

It comes in response to calls from academics and researchers for greater transparency about Facebook’s ability to target users based on their political and cultural affiliations. Its ability to do so has been questioned due to the potential for advertisers to use those tools to discriminate against or otherwise target vulnerable groups.

Meta announced in November of last year that it would be removing targeting options based on “health, race and ethnicity, political affiliation, religion, and sexual orientation.” It followed instances of those options being used in ways that the company did not intend – though technically not against the rules – by advertisers seeking to reach specific groups.

For example, in 2019, the company was accused of allowing advertisers to discriminate against people looking for housing by limiting who could see the ads based on race and religion.

Meta is now stating that, in addition to providing researchers with access to that data via FORM, it is also making its Ad Library tool publicly available.

Reopening Research Pathways
The Ad Library was first introduced in 2018; this expansion expands researchers’ ability to examine the impact of targeted advertising on Facebook. Following the 2021 Capital Riots, more attention has been paid to the unintended consequences of social platforms acting as a hub for disinformation and discrimination: while the social platforms state that they oppose those issues, critics note that many have been especially slow to act to curb potential harm when doing so would jeopardize their financial viability.

“By making advertiser targeting criteria available for analysis and reporting on ads run about social issues, elections, and politics, we hope to help researchers,” King said in a statement accompanying the rollout of the new options.

“We are committed to providing meaningful transparency, while also protecting people’s privacy. In updating our tools, we solicited advice from external experts in the academic community and civil society on how to best achieve both of these important objectives, and we will continue to do so as we continue to evolve these tools.”

Greater transparency around both user data and the ability to target ads are high on the agendas of policymakers and academics. This latest rollout is unlikely to totally assuage any concerns about the ability of Meta and Facebook to mitigate the unintended consequences of its tools – but it does demonstrate that the platform is willing to allow access to data in an attempt to work with researchers.

It had previously shut down thousands of academic-related APIs and tools in the aftermath of the Cambridge Analytica scandal. This will undoubtedly be regarded as a positive step.

This article is about the following topics: World, Facebook, Facebook Ads, Meta, Political Advertising, Ad Spend, Adtech, Brand Safety, Data & Privacy, Social Media, Modern Marketing, and Brand Safety.

NIBSS: Cashless transactions increased by 44 % in four months, attaining N117.33tn

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According to data from the Nigeria Inter-Bank Settlement System, cashless transactions increased by 44% year on year to N117.33 trillion in the first four months of 2022.

From January to April 2022, N117.33tn was processed through electronic channels, which is N35.79tn more than the N81.54tn processed during the same period in 2021.

The Nigeria Instant Payment System and Point of Sales terminals are used to monitor cashless transactions on the NIBSS.

In January 2022, the nation processed N27.22tn electronically; this increased to N27.76tn in February, N32.52tn in March, and N29.84tn in April 2022.

In January 2021, N18.99tn was processed electronically, followed by N18.79tn in February, N22.55tn in March, and N21.19tn in April.

Electronic channels were used 1.88 trillion times in the first four months of 2022, representing a 44.26 percent increase over the 1.3 trillion times used in the same period in 2021.

This maintains the growth seen in electronic payment following the onset of the COVID-19 pandemic.

In a report titled ‘Instant Payments – 2020 Annual Statistics,’ the NIBSS stated that COVID had altered the e-payments landscape and hastened the adoption of instant payments as people shift to electronic channels for funds exchange.

The CBN stated in the preface of a document titled ‘Why The Central Bank of Nigeria Made the Cash-less Policy,’ that Nigeria disclosed at the time that there was a need to help Nigerians migrate from a cash-based economy to an electronic-driven economy.

“Our economy uses too much cash for transactions for goods and services, especially buying and selling,” the apex bank stated.

“This is not how it is done in other progressive countries around the world where other payment options such as debit and credit cards, bank transfers, bank direct debits, Automated Teller Machines, and even mobile phone money are available.” These accomplishments have been made possible by changing people’s needs, competition among banks and other businesses, and technological advancements.

Lilian Phido, Head of Corporate Communications at NIBBS, commented on the surge in electronic payment, saying, “It is very clear that more and more people are accepting the channels of payment that are available, and the platforms are stable.” These components have grown with stability. More and more people are moving as the economy improves.”

Analysts believe that the convenience of cashless transactions has encouraged more people to use electronic transfers.

Wema Bank Reiterates Commitment to Customer Data Confidentiality

Our attention has been drawn to recent reports of members of the public receiving text messages with account numbers.

 

We implore members of the public that, as a financial institution, Wema Bank takes issues around data integrity and breaches seriously, and we are currently investigating the reports.

 

Recently, we embarked on a massive activation campaign in the month and wish to state that all accounts opened are valid and fit for use. We would like to reassure our customers that we keep all customer data confidential. Do note, however, that no account can be activated except by the owner of the account, when the person downloads the app and proceeds with account confirmation.

 

Again, we implore everyone to keep their personal details safe as scammers are on the prowl and would use all opportunities to defraud customers. Where you think your data may have been compromised, please change all your passwords and PINs immediately.

 

We want to assure all our customers that your financial transactions remain safe and secure with Wema Bank.

 

We appreciate all our customers for choosing to bank with us and urge them to refer our simple, convenient, and reliable digital banking services via ALAT to their friends and family.

QShop’s Technology-driven Solution Improves Growth Opportunities for SMEs in Nigeria

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The shifting nature of regulatory and operating environments that affect MSMEs worldwide requires innovative solutions that improve their ability to adapt to changes. The stakes are higher with accelerated technological adoption triggered by the COVID-19 pandemic.

To this end, QShop, a technology-driven e-commerce platform founded in 2020, is on a mission to help Small and Medium Enterprises (SMEs) succeed in a technologically driven world.

SMEs are referred to as the “backbone of the economy” or “engine of growth for development”. These titles were conferred due to their significant role in alleviating poverty, facilitating local and international trade and creating job opportunities. By providing an affordable e-commerce solution through QShop, SMEs in emerging markets can enhance their ability to achieve business objectives and improve contributions to economic growth, through technology.

By simplifying Africa’s e-commerce ecosystem and website setup, many entrepreneurs who would otherwise struggle with the complexity of running a business online can do so with a few clicks. QShop equips SMEs with the tools and resources crucial to successfully running an e-commerce business.

QShop’s integration with financial partners like Stripe, Flutterwave, Paystack and recently Providus Bank gives merchants the freedom to receive funds seamlessly and in any currency. 

QShop’s recent partnership with Providus Bank has reduced payment processing time, allowing businesses to receive store credit for transactions in as little as one hour.

Additionally, QShop supports technology integration with Facebook Pixel, Instagram, and Google Analytics. This allows merchants to set up their stores in minutes, improve consumer engagement and measure growth.

Since the launch of QShop, there has been significant traction amongst merchants. Over 10,000 SMEs have signed up, and USD500,000 has been processed in combined merchants sales.

Speaking at a media briefing Tarebi Alebiosu, Founder, QShop, said: “During the pandemic, we found that technology was one of the major factors that helped many small businesses survive. However, many struggled to navigate the complexity of integrating technology into their businesses’ day-to-day running. Therefore, we developed QShop, a mobile-first solution, in late 2020 to make e-commerce technology adoption for small businesses affordable. Simply put, we are helping small businesses to sell online and scale easily. QShop is deeply integrated with social media allowing for a seamless and easy setup; most stores are up and running in 2 mins or less.”

Also commenting, Harrison Hammond, Head of Technology, QShop, said: “At QShop, we want to help customers grow from zero to a hundred with technology. We serve as the middle man to bring all the tools- websites, inventory, payment channels, logistics -to one place. SMEs currently inundated with the complexity of technological integrations can start with QShop.”

QShop’s long term growth plan is underpinned by a focus on boosting growth for retail-focused businesses. Hence, merchants can expect platform upgrades that include access to credit, markets, and business training.

Bolt Food expands service to Lagos Mainland

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To continue providing easier access to daily essentials such as food, the leading mobility platform in Africa, Bolt has expanded its food delivery service in Lagos. Launched in 2021, Bolt Food provides customers with competitively affordable and efficient food delivery service, while offering good working conditions to food couriers and profit to restaurant partners.

 

At its initial launch, customers could only place food orders from over 100 restaurants in Lagos Island, Ikoyi, Victoria Island, and Lekki. With the expansion, customers can now access restaurants and food service in the Yaba and Surulere areas of Lagos. Bolt is looking to add new restaurants to the app daily while also recently expanding to Ilupeju, Gbagada, Ikeja and other parts of Lagos Mainland. With over 30 million customers worldwide, Bolt has built its ride-hailing and food service platforms efficiently to offer the best services, positioning the company as a leader in Nigeria’s mobility sector. The company extended its expertise to food delivery to advance the sector with innovation and technology.

Speaking on the launch, Bolt Food Manager, Sola Masha, said, “When we launched Bolt Food in 2021, we wanted to help Nigerians order food from their favourite restaurants and receive it quickly and safely at their home or office. This expansion is an extension of our commitment to providing easier access to essentials such as food to Nigerians. We are looking to expand quickly and ensure that our partner restaurants benefit from our loyal customer base. This is also a way for us to augment the earning opportunities for Nigerians by ensuring that it is worthwhile for couriers on the platform.”

To place an order, users can download the Bolt Food application on their smartphone, with an array of different restaurants and available menu options to choose from. The application also provides customers with various price ranges and an estimated delivery time. Payments can be paid like the Bolt ride-hailing platform, and customers can specify the location for contactless delivery drop-offs upon order arrival.

Bolt Food was first launched in Estonia in August 2019. The service is also available in South Africa, Ghana and Kenya. Restaurants and couriers can sign up on the website food.bolt.eu. The expansion of Bolt Food in Nigeria will help restaurants have a broader reach to customers, with Bolt acting as a reliable platform for affordable delivery and efficient service.

Positive Performance Returns to the Domestic Bourse, NGX ASI Gains 124bps

At the end of Yesterday’s trading session, the Nigerian All Share Index closed positive, advancing by 1.24% to close at 52,591.41 points.

Yesterday’s performance was due to buying pressures in large cap stocks such as NGXGROUP (+1.32%) and VITAFOAM (+0.22%). Consequently, the YTD return increased to 23.12% as market capitalisation increased by ₦345.98 billion to close at  ₦28.35 trillion.

The sectoral performance totally weakened as all the five indices under coverage declined. The Inurance index, the biggest loser, fell by 3.70% on NEM (-9.25%). The Banking, Consumer Goods, Oil & Gas, and Industrial Indices, followed suit, falling by 2.13, 1.33%, 0.76%, and 0.40% on ZENITHBANK (-1.67%), CHAMPION (-10.00%), ETERNA (-4.65%), and WAPCO (-5.53%) respectively.

Investors’ sentiment weakened as the market breadth decreased to 0.24x from 0.41x. This was illustrated by the decline of 39 stocks, led by CHAMPION (-10.00%) and MCNICHOLS (-10.00%) and the advance of 10 stocks, led by CHAMS (+9.52%) and FTNCOCOA (+6.06%). Activity level was weakened as the total volume and value decreased by 46.90% and 52.25% respectively, as investors exchanged about 382.46mn units of shares worth over ₦4.23bn.

We expect bearish sentiment to return in the next trading session due to profit-taking activities.

Fixed Income

There was bullish sentiment across the bond yield curve as three of the four bond yields under coverage contracted while the FGN-JUL-2030 bond paper closed flat. The FGN-APR-2023, FGN-MAR-2024 and FGN-JAN-2026 bond paper yield inched lower by 23bps, 1bp, and 1bp respectively.

Treasury bill yields for the 91, and 182-day bond papers closed flat at 2.99% and 3.61% while the 364-day bond paper inched up by 6bps to close  at  4.92%.

We expect market activity to be influenced by the outcome of the PMA today.

MARKET SNAPSHOT 

  • Positive Performance Returns in the Local Bourse, NGX ASI Gains 124bps
  • Bullish Sentiment across the Bond Yield Curve
  • Positive Performance in Global Stocks
  • Brent Crude Reports at $110.92/barrel
  • Mixed Sentiments in African Stocks