Osinbajo To Headline NGX Capital Market Conference On Nov 30

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Osinbajo To Headline NGX Capital Market Conference On Nov 30

The Nigerian Exchange Ltd (NGX) is set to host the Vice President, Prof. Yemi Osinbajo, at the inaugural Nigerian capital market conference slated for Nov. 30.

The Chairman of the NGX, Mr Abubakar Mahmoud, disclosed in a statement made available to the News Agency of Nigeria (NAN) on Tuesday in Lagos.

Mahmoud said that the theme of the conference is : “The Future Ready Capital Market: Innovating for Nigeria’s Sustainable Recovery.”

He said the conference would bring together all stakeholders to share insights and broaden the thinking needed for greater capital flows through innovative sources of financing.

The chairman said participants expected at the conference are policymakers, government, financial experts, business leaders, investors, international development partners, regulators and other market stakeholders,

He said the conference has become imperartive because Nigerian capital market occupies a critical position in the economic growth and development of Nigeria and Africa.

“Following the successful demutualisation of the Nigerian Stock Exchange (NSE), which saw NSE transition to Nigerian Exchange Group Plc with three wholly owned subsidiaries, NGX, NGX Regulation Ltd, and NGX Real Estate Ltd.

“NGX is well-positioned, as a more agile and responsive exchange, to chart the course for the next phase of growth.

2021 Jewellery World Awards names Honourees

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HONG KONG SAR – Media OutReach – 27 October 2021 – Organised by Informa Markets Jewellery since 2012, the Jewellery World Awards (JWA), formerly known as JNA Awards, unveiled its highly anticipated roster of Honourees for its 2021 edition. Following this announcement, the 2021 JWA also staged its three-part webinar series under “Leading Through Changes and Uncertainty,” sponsored by Phu Nhuan Jewelry Joint Stock Company (PNJ).

How To Check NPower Batch C Deployment For Non-Graduates

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How To Check NPower Batch C Deployment For Non-Graduates

NPower has commenced the deployment of non-graduate tech-software beneficiaries

The NPower batch C deployment started today (Tuesday).

Brand Spur Nigeria recall that the FG had on Monday, August 23 announced the inauguration of 510,000 Batch C1 graduate and non-graduate volunteers.

How To Check Non-graduate NPower Batch C Training Posting

1. Go to https://www.nasims.gov.ng

2. Click on the deployment page to see your training posting status.

  • If you are posted, your training venue, training track, training main, training life skills, and remuneration details will be displayed.
  • However, if you are not yet posted, try to check back again as the posting process is ongoing.

Note that the NPower non-graduate programme remuneration is N10,00 per month.

Access Bank Plc Announces Proposed Merger With Zambian African Banking Corporation

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Access Bank Plc Announces Proposed Merger With Zambian African Banking Corporation

Access Bank Plc has disclosed that a binding agreement with Atlas Mara Limited has been executed on the proposed merger between African Banking Corporation Zambia Limited and Access Bank Zambia Limited.

This was contained in a notice filed with the Nigerian Exchange and signed by the company secretary, Sunday Ekwochi, stating that the proposed transaction is expected to be concluded in 2022, subject to the fulfilment of conditions including regulatory approvals in Nigeria and Zambia.

The announcement comes just a few weeks after the bank acquired a controlling stake in Botswana’s African Banking Corporation.

What this means

According to the disclosure, following the completion of the transaction, Access Bank will retain or increase its current shareholding in Access Bank Zambia which will have approximately $1 billion in total assets, over 300,000 customers in Zambia and over 70 branches and agencies.

In addition, there will be no additional capital investment requirements from the bank as a result of the transaction due to the capital and other synergies created from the merger between Access Bank Zambia with Cavmont Bank in 2020.

Commenting on the proposed merger transaction, CEO/GMD of Access Bank Plc, Dr Herbert Wigwe said, “This transaction represents another milestone that brings us closer to the achievement of our broader strategic objectives. The merger of Atlas Mara Zambia with Access Bank Zambia is expected to augment our presence in Zambia and the broader COMESA region, Africa’s largest free trade area.”

“Today’s announcement is a testament to the strong confidence of the Zambian market in the Bank’s country and regional strategy as well as our strong confidence in the long-term prospects for the Zambian economy,” he added.

Backstory

So far this year, Access Bank Plc has successfully completed and announced different acquisitions and mergers involving the bank’s subsidiaries in different countries which include Zambia, Botswana and Mozambique.

Recall that, in January 2021, Access bank completed the acquisition of Cavmont Bank Limited following fulfilment of “key conditions precedent including regulatory approvals.”

In May 2021, the bank announced that its subsidiary in Mozambique concluded a deal for the acquisition of African Banking Corporation, which was backed by London-listed financial services group Atlas Mara Limited.

Earlier this month, Access Bank Plc announced that it has completed the acquisition of a majority stake of 78.15% in African Banking Corporation of Botswana Limited, Botswana.

Nigeria’s Autochek Raises $13.1m Seed Funding Round For West Africa Expansion

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Nigeria’s Autochek Raises $13.1m Seed Funding Round For West Africa Expansion

Nigerian auto-tech startup Autochek has raised a US$13.1 million seed funding round to bolster its core auto loan processing platform and deepen its footprint in West Africa.

Autochek aims to build digital solutions that will enhance and enable a seamless and safe automotive commerce experience across Africa, starting with Nigeria and Ghana.

It plans to use technology to transform the automotive buying and selling experience for African consumers, by creating a single marketplace for consumers’ automotive needs, from sourcing and financing to after sales support and warranties.

The startup launched last September having acquired automotive marketplaces Cheki Nigeria and Cheki Ghana from ROAM Africa, and raised a US$3.4 million pre-seed funding round shortly after. In addition to Ghana, it has expanded to Kenya and Uganda, with the latter two launches having again been accomplished by the acquisition of Cheki properties.

It has now also commenced operations in Ivory Coast, with West Africa a core focus after the startup secured a US$13.1 million seed funding round. Co-led by follow-on investors, TLcom Capital and 4DX Ventures, the round also included participation from existing investors Golden Palm Investments, Enza Capital and Lateral Capital as well as new participants ASK Capital and Mobility 54 Investment SAS – the venture capital arm of Toyota Tsusho Corporation.

The capital will be deployed to bolster its core auto loan processing platform and deepen its footprint in West Africa, starting with the Ivory Coast launch. As part of the investment by Mobility54, Autochek will be leveraging Toyota Tsusho’s vast retail network across 46 African countries to further deepen its expansion.

“At Autochek, our driving force is to increase financing penetration on the continent; we have been amazed by the market adoption rate and the support from our banking partners in the countries we operate in. We stepped into this space knowing we were tackling one of the most significant challenges for Africa’s automotive sector – the lack of a simplified, digital-first financing process. By combining our expertise and networks, we have been able to make an impact in the automotive sector,” said Etop Ikpe, founder and chief executive officer (CEO) of Autochek.

“We are extremely delighted with the progress we’ve made in a short amount of time. With this funding and the support of our strategic investors, the entire team at Autochek are dedicated to delivering exceptional service for customers and partners, as well as deploying our technology across Africa.”

Andreata Muforo, partner at TLcom, said Autochek had achieved significant traction in one of Africa’s key verticals and was making impressive progress in bringing transparency and efficiency in a complex and fragmented industry.

“The foundation of its growth has been the strong leadership of its CEO, Etop Ikpe, a repeat founder in the automotive market whose world-class experience gave us the confidence to initially invest in Autochek in 2020. We look forward to the next chapter of Autochek’s growth as it continues to unlock the major upside which has remained dormant in Africa’s automotive sector for decades,” she said.

Walter Baddoo, managing partner at 4DX Ventures, said Autochek was revolutionising the auto industry in Africa by offering the convenience and selection advantage of an auto e-commerce platform together with the added flexibility of financing.

“We have enjoyed working with the team so far, and they have demonstrated the talent, ambition, and domain expertise needed to build a complete end-to-end car ownership experience for customers. We are excited to partner with the team as they pursue the next phase of their growth,” he said.

Amazon grows footprint in Singapore with new office launch

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  • As part of local expansion plans, Amazon will create over 200 new jobs in Singapore by end-2022
  • With 100,000 square feet across three floors, the new office will hold over 30 teams and up to 700 employees

SINGAPORE – Media OutReach – 27 October 2021 – Amazon is building its presence in Singapore with a new office at Asia Square. Named SIN16, the new office is designed to optimize agile working, learning, and collaboration as Amazon continues to grow its business, operations, and investments in Singapore.

 

As an anchor tenant at Asia Square, Amazon will occupy over 100,000 square feet and accommodate up to 700 employees from their Consumer business and Corporate functions in the new office. The company plans to expand its local workforce across its Consumer business and Corporate functions with over 110 job openings currently available in Singapore. Amazon also aims to add more than 200 new jobs to these departments in Singapore by end-2022, to expand its range of offerings in Singapore as well as include more support for local businesses to go global. 

In Singapore, we have created more than 1,000 direct jobs since 2019 and today have approximately 2,000 full-time and part-time employees.

The new office, spanning across three floors, will house more than 30 teams, including employees supporting Amazon.sg and Amazon Fresh, Amazon Advertising, Prime Video, seller enablement, and other regional corporate functions.

 

Highlights of the new office include:

  • Showcases of Amazon’s history and leadership principles: The office space features a milestone wall of key events in Amazon’s journey in Singapore, along with prominent wall panels highlighting core company values known as leadership principles such as “Customer Obsession”, “Learn and Be Curious”, “Best Employer” and more.
  • Features of the vibrant culture of Singapore: Rooms across the office are named after local streets and landmarks, including a wall featuring iconic Singlish phrases.
  • Spaces for creativity and inspiration: Employees can unwind at the pantry and mini café, equipped with Nespresso coffee machines and game tables, including amenities to play billiards, foosball, and electronic darts. Employees can also enjoy interactive game board walls for friendly competitions of Scrabble and Chess. 
  • Collaboration spaces: The office includes a product showcase area for teams to highlight the latest and greatest products and services they develop, as well as 50 breakout areas for informal discussions and brainstorms. The office also has five (5) large meeting rooms with a capacity of up to 14 pax each. All meeting rooms and training rooms are AV/VC capable and are equipped with video-conferencing capabilities.
  • Facilities for work and learning: Employees can enjoy height-adjustable desks as well as individual lockers to safekeep their personal items. Teams and employees who require more privacy and focus can access 33 quiet rooms and 12 phone booths spread across 3 floors. There are two (2) training rooms that can double up as physical townhall event spaces.

Check out Amazon’s new office here.

For more information about Amazon in Singapore, please visit: https://www.aboutamazon.sg/

About Amazon

Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit Amazon.sg.

#Amazon

4 Challenges To Increasing Brand Resonance With Modern Consumers

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4 Challenges To Increasing Brand Resonance With Modern Consumers

What is brand resonance?

In our recent whitepaper, “How to increase brand equity and resonance with today’s consumer,” we dive deep into today’s modern consumers and how they identify and respond to brands today. We call this brand resonance. 

We define it specifically as “the reverberation of a brand’s meanings within the contexts of the organization, the broader culture, and the consumer’s life.”

How a brand “resonates” with its consumers directly impacts the measure of brand equity they have with each particular group of consumers that consumes their brand.

According to Professor Kevin Keller’s influential Brand Equity formulation, brand equity is defined as “the effect that brand knowledge has on consumer response to the brand’s marketing.”

In other words, how well a consumer knows the brand and how the brand resonates with them emotionally ultimately determines whether or not a consumer remains loyal to that brand.

Why is it important to measure brand resonance?

The COVID-19 pandemic changed the behavior of consumers and caused over 80% to restructure how and what they buy.

This presents an opportunity for brands to re-evaluate their health and consider new ways to reach a wider audience of consumers who no longer have deeply ingrained behaviors. But to do that, brands will have to overcome several new challenges posed by a competitive landscape, with nearly endless channels for consumers to evaluate brands and educate themselves.

In this article, we’ll take a closer look at those challenges and how to increase brand resonance.

1. Consumers are educating themselves in varied, fragmented ways

In the early days of advertising and brand marketing, consumers typically got their information from a few places. As a society, we no longer have a largely uniform view from dominant sources.

Today, consumers have access to various resources and authority figures—many with differing views and perspectives.

The consumer can selectively decide which sources they choose to acquire their knowledge from and on which platforms. This creates any number of varied segments that are collectively more difficult to target with a singular “one size fits all” approach.

2. Consumer identities are multifaceted, and “truth” is more subjective

Furthermore, how the “truth” is defined today is more subjective (e.g., “beauty is in the eye of the beholder”). Rather than relying on dominant sources to inform us, consumers leverage their unique perspectives to define what’s true and what isn’t.

Consumers experience brand meanings in different ways and identify with multiple microcultures. That makes it challenging to lump large groups together and market to them each in the same way.

3. Consumers are defining brands faster than the brands can express themselves

Consumers today actively use brands to define themselves and those around them. Instead of waiting for the brand to reveal its identity, we often determine brand identity long before they can do it themselves.

Thus, consumers have become co-creators, playing a significant role in determining and even modifying brand meanings. For this reason, most brands owe their usage and their cultural resonance to those influential consumers who decide it.

4. The pandemic radically changed how and why consumers shop

As stated previously, the global pandemic changed many things and caused severe commercial disruptions. Beyond shifts in shopping behaviors, consumers are tightening their wallets.

  • 46% of consumers have reported constrained spending habits.
  • Two in three consumers said they’ve changed how they shop.

A notable proportion of respondents report they are making changes to their preferences, including switching brands and abandoning some brands. Thus, brands can not afford to assume that previously loyal consumers will stay loyal.

Learn more about how to increase brand resonance

Despite the uncertainty, there are a few things of which we can be sure.

First, consumers will continue to shift their brand loyalty and be skeptical of brand promises. We also know that they will be looking for information from a variety of channels and for those brands that best resonate with their personality and culture.

There is massive potential for brand revival for those that diversify their strategies and crack the code for adding value to the right audience.

To cut through the noise and properly connect with their target markets, brands must have a thorough understanding of their brand’s current health. Identifying where their gaps are and what they need to do to improve the long-term success of their brand is essential.

We discuss this strategy in our latest whitepaper, “How to increase brand equity and brand resonance with today’s consumer.” In this paper, we share how to obtain relevant market insights that will empower you to position your brand for sustainable growth.

Buhari: We Have Supported 1.1m Businesses Through MSME Survival Fund

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Buhari: We Have Supported 1.1m Businesses Through MSME Survival Fund

President Muhammadu Buhari says his administration has supported over 1.1 million businesses in Nigeria through the introduction of the micro, small and medium enterprises (MSME) Survival Fund.

The President, represented by Vice-President Yemi Osinbajo, disclosed this at the 27th Nigerian Economic Summit (NES27) tagged “Securing our future: The fierce urgency of now,” on Monday, in Abuja.

Buhari said the results are beginning to show, especially in the area of GDP growth, which appreciated and inflation, which has been on a downward trend.

“We were also able through the MSME Survival Fund to support up to 1.1m establishments and individuals. Particularly notable in this regard was the payroll support scheme wherein government was able to pay salaries to nearly 500,000 employees of MSMEs over three months so that they could remain at work,” Buhari said.

“The AfCFTA calls for action to position the economy and at the same time protect our key sectors of health and infrastructure, in a sustainable manner.”

In addition to the Survival Fund scheme, President Buhari explained further that his administration is also providing support to exporters through the Export Expansion Facility Programme and disbursement is ongoing to beneficiaries of the scheme.

“We are also providing support for exporters and labour-intensive organisations. Government is responding to challenges and opportunities as the economic sustainability plan was introduced to tackle COVID-19, rescue businesses and sustain growth and investment in human and social capital,” he added.

“It is another project of the Economic Sustainability Plan that will lead to the creation of a large number of jobs. We expect up to 250,000 jobs to be created from this effort to connect up to 5 million households to solar power.”

“This project is particularly important in the context of climate change and in enabling Nigeria to generate renewable electric power against the background of its nationally determined contribution towards net-zero carbon emissions by 2050,” Buhari said.

Calling for more public-private partnerships in the transport sector, the president said the efforts of the federal government are evident and yielding results.

OxPay Appointed Exclusive Payments Provider for Thailand’s HIVE Ventures

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  • Partnership with HIVE, which has more than 4,000 restaurants and 200 suppliers on its platform, started this month
  • Partnership to boost the Group’s operations in Thailand, expected to contribute positively to Group’s overall performance in next 12 months

SINGAPORE / BANGKOK, THAILAND – Media OutReach – 27 October 2021 – OxPay Financial Limited (SGX: TVV) announced today in a press release that it has been appointed as the exclusive payments provider for HIVE Ventures Ltd, Thailand’s first integrated food ecosystem, with effect from October 2021.

 

HIVE Ventures Ltd was founded in 2018 with the mission of building a strong food community. The platform, which is home to more than 4,000 restaurants and 200 suppliers, provides three services: (a) HIVE Marketplace, an online B2B wholesale and retail market for food businesses; (b) HIVE RI, which caters to the end-to-end business operations of restaurants, such as point-of-sale, inventory management, accounting and payments, as well as customer relationship management; and (c) Spoonwalk, which handles restaurant delivery orders and restaurant reviews by influencers and consumers.

 

Mr Henry Tan, Managing Director of OxPay, said: “We’re very pleased to be appointed as the exclusive payments provider for HIVE Ventures, Thailand’s first integrated food ecosystem. This new partnership, which represents another growing market opportunity for OxPay, is expected to enlarge our footprint in Thailand. Barring any unforeseen circumstances, it is also expected to contribute positively to the Group’s overall performance in the next 12 months.“

 

OxPay is focused on servicing merchants in the retail, transportation and food and beverage industries. Its wholly-owned subsidiary, MC Pay Pte. Ltd., which was established in 2005, holds a major payment institution licence in Singapore, and is regulated by the Monetary Authority of Singapore under the Payment Services Act 2019.

 

OxPay’s Merchant Payment Services segment provides payment processing services through its unified platform and smart software, which can be installed onto or integrated with any smart devices (including mobile phones, tablets, and smart point-of-sale terminals) for merchants with physical stores or integrated with online merchants’ websites and applications. OxPay’s second business segment, Digital Commerce Enabling Solutions, provides ancillary services such as the sale and lease of smart point-of-sale terminals, as well as both proprietary and licensed software-as-a-service which can be white-labelled. This segment also develops bespoke software solutions for its merchants.

 

Currently, OxPay has presence in four countries – Singapore, Malaysia, Indonesia and Thailand – with ambitions to become a regional player.

 

#OxPay

Duchess International Hospital Opens In Lagos

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Duchess International Hospital Opens In Lagos

  • Purpose-built, fully equipped facility on Ikeja G.R.A is Nigeria’s first multi-specialty privately owned hospital on the mainland in Lagos 

  • Facilities exploit technology including Cath Lab, mammogram, ultrasound, X-Ray machines, Ventilators, Anaesthetic Machines, and a premium multi-specialty facility including 110 beds hospital  

  • More opportunity for inbound medical tourism and access to early diagnosis of diseases

Duchess International Hospital Opens In Lagos
Duchess International Hospital Opens In Lagos

In support of Duchess International Hospital, the largest multi-specialty privately-owned hospital on the mainland in Lagos, GE Healthcare has completed the delivery and installation of equipment with a full range of products for improved healthcare in Nigeria.

The Duchess International Hospital, a purpose-built 100-bed, fully ensuite hospital facility offering primary, secondary and tertiary healthcare services across a range of specialist and sub-specialty areas has opened in the heart of Ikeja GRA, Lagos. Its operators predict that it will reverse the trend of people traveling abroad for medical treatment.

The Duchess is located within a few minutes of the Murtala Muhammed International Airport, 90 minutes by air from any state capital in Nigeria and accessible within two hours from most major capital cities across West Africa.

Duchess International Hospital Opens In Lagos
Duchess International Hospital Opens In Lagos

The hospital is uniquely positioned to solve the problem of access to affordable healthcare on behalf of local communities across the country. Patients attending the hospital can expect to receive an excellent standard of healthcare combined with a unique experience of hospitality.

Supporting the planning, development, building and equipping of the facility at Duchess International Hospital, GE Healthcare is providing a comprehensive suite of solutions such as Xray-Brivo DRF, Digital Mammo Senographe Pristina, Cath Lab- Innova 530, CT-Scan- Optima CT 660, Ultrasound – Vivid T8, Voluson, Logiq F6, Mobile Xray – Optima XR 220, LCS-Ventilator, Baby Warmers, and Anesthetic Machine.

Eyong Ebai, General Manager of GE Healthcare in Sub-Saharan Africa, said: “Over the years, GE Healthcare has been supportive with providing standard healthcare infrastructure in Nigeria. Our partnership with Duchess International Hospital further showcases the interest in ensuring the best availability of medical equipment for effective world-class healthcare delivery. We continue to adapt to improved technology in solving the challenges in healthcare through our equipment”.

The United Nations Sustainable Development Goals 3 promotes good health and well-being to ensure healthy lives for all ages. The government of Nigeria is making efforts to achieve this goal and private sector investment in the health field is one of the mechanisms to attaining this.  

GE Healthcare is a long-term partner in building Nigeria’s healthcare infrastructure, and continues to provide external expertise in hospital design, hospital planning and training. More than 5,800 GE Healthcare technologies are deployed in hospitals and clinics across the country.

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