Comic Con Africa releases official virtual poster featuring Wonder Woman by Jenny Frison

Esan Bolaji
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Comic Con Africa releases official virtual poster featuring Wonder Woman by Jenny Frison

Comic Con Africa has announced and shared the official and exclusive artwork for the 2020 Online Con’s event poster, digital badges, and Visitors’ Guide, drawn by comic book cover artist and illustrator Jenny Frison. The artwork features Wonder Woman and is timed not only with the latest major DCEU release Wonder Woman 1984, but also Women’s Month.

“Wonder Woman is the perfect hero for our country’s daughters to know that they can do anything they set their minds to. Jenny’s artwork is an inspirational portrayal of the latest evolution of this iconic character” says Carla Massmann, Portfolio Director of Comic Con Africa.

In the artwork, Princess Diana is seen in profile firmly grasping the Sword of Athena, the golden Lasso of Truth bright at her hip, in her gritty red Amazonian battle armour. The illustration is arresting with its skilfully coloured points of luminous light that make the artwork gleam. Jenny was introduced to comics when she saw Adam Hughes’ iconic covers of Wonder Woman on a family trip whilst in high school, and in that moment knew she had to be involved in the industry. She has now mastered the skill of creating arresting cover art.

The Comic Con Africa team had an exclusive interview with Jenny for their CONversations with Comic Con series on their YouTube channel @ComicConAfricaOfficial in which Jenny discusses her approach to the poster. About the poster, Jenny says that “I wanted it to be a really iconic, powerful, graceful Wonder Woman image.”

Jenny began her career with covers for Hack/Slash, Ghost, True Blood, I, Vampire, Gail Simone’s Red Sonja, Tim Seeley’s Revival, and Buffy. Horror is another favourite of hers. Her artwork is half traditional, half digital. She starts her linework with graphite on paper, followed by digital colouring that she carefully adjusts until she finds the exact look she is seeking.

Jenny joins a list of venerable virtual comic book guests at Comic Con Africa’s Online Con. Recently announced artists include Jim Zub, Dan Slott, Mark Brooks, and South African local Sean Izaakse. Also in attendance will be co-creator of the Teenage Mutant Ninja Turtles Kevin Eastman, not to mention film and series actors Tom Hopper of The Umbrella Academy and Jason David Frank of the Power Rangers, and WWE heavyweight Bret “The Hitman” Hart. Esports host and live event producer Adam Savage is also on board.

Comic Con Africa’s Online Con at home from 24 – 27 September 2020, 10h00 – 18h00 daily, is set to be a weekend filled with all the best in Pop Culture. With virtual Cosplay competitions, panel discussions, Q&As, a gamers’ paradise, Artist Alley, fan meetups, exclusive merchandise and so much more. A specially developed online platform will guide fans through the universe of Pop Culture and give them access to the Con’s virtual content which will also be streamed to platforms across the web including YouTube, Instagram Live, Facebook Live, and Twitch. Registering before 18 September will see fans securing their virtual goodie bag with special offers and vouchers for the Con.

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IITA and EAGC agree to work towards producing aflatoxin-free grains for health and trade

The International Institute of Tropical Agriculture (IITA) and the Eastern Africa Grain Council (EAGC) today signed an agreement to work together to tackle aflatoxin contamination of grains in the region to help ensure that they are safe for human and livestock consumption and meet export standards.

Olam prices additional S$100 million notes by re-opening its recent 4.00% SGD senior fixed rate notes, increasing total issuance size to S$500 million

Global food and agri-business Olam International Limited (“Olam”) announced that, on the back of additional investor demand, it has priced a S$100 million issuance (the “New Notes”) via reopening of its S$400 million 4.00% senior notes due February 2026 (the “Original Notes”) under its US$5,000,000,000 Euro Medium Term Note (EMTN) Programme.

CBN directs banks to take over electricity bills collection from DisCos

The Central Bank of Nigeria (CBN) has asked banks to take responsibility for collecting electricity bill payments.

NSE upgrades its whistleblowing platform

Esan Bolaji
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1
NSE upgrades its whistleblowing platform

The Nigerian Stock Exchange (NSE) is pleased to announce the upgrade of its whistleblowing platform, X-Whistle on Tuesday, 25 August 2020.

X-Whistle which was first launched in 2014, is a web-based whistleblowing portal that empowers a whistleblower – an employee, investor, compliance officer, Issuer, stockbroker or any member of the public – to report possible violations of the rules and regulations of The Exchange, the securities law and fraud related to activity within the capital market.

The upgraded X-Whistle, accessible via, here, boasts an improved user interface and easier navigation to enhance user experience. Some of the new features include a single repository for complaints, tips and referrals; and the ability to generate detailed and varied reports with analytics for proper tracking.

Speaking on the development, the Chief Executive Officer, NSE, Mr. Oscar N. Onyema, OON noted that,

“This upgrade affirms our commitment to upholding market integrity, protecting investors and building a world-class capital market that is fully digitized.

NSE upgrades its whistleblowing platform

The X-Whistle (whistleblowing platform) has, therefore, been enhanced to ensure that all stakeholders are better able to sound the alarm on market violations in a quick, easy and seamless manner. We believe that the updates we have made to the X-Whistle will enhance market integrity and encourage accountability while improving the experience of stakeholders in our market.”

On her part, the Executive Director, Regulation Division, NSE, Ms. Tinuade Awe, stated,

“The Exchange is pleased to introduce the upgraded X-Whistle to the market with robust features that will allow people with information about misconduct to come forward to report it and to provide all stakeholders with the means of expressing their concerns in a responsible and effective manner.

In 2019 alone, the complaints, tips and referrals received have led to investors’ restitution in excess of N1.4 Billion. The X-Whistle will, therefore, further equip The Exchange with the tools required to properly assess reports, carry out the necessary investigations and resolve issues efficiently.”

The Exchange remains committed to providing a dynamic and robust capital market regulatory regime for the benefit of all its stakeholders. The NSE, therefore, encourages all stakeholders to blow the whistle via X-Whistle in order to rid the market of infractions and misconduct.

The CBN’s move against abuse of FX: Our thoughts

Esan Bolaji
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0
The CBN’s move against abuse of FX: Our thoughts

The Central Bank of Nigeria (CBN) recently directed Authorized Dealers to only open Forms M (a mandatory statutory document to be completed by all importers in Nigeria) for payments in favour of the ultimate supplier of the product or service, with immediate effect.

Furthermore, CBN announced that it will immediately introduce the usage of the Product Price Verification Mechanism (PPVM) to verify quoted prices of goods and services before approving Form M.

Clearly, this is a major move against abuse of FX market activities especially by entities which take advantage of their huge FX need for overpricing and conduit for arbitraging.

The CBN's move against abuse of FX: Our thoughts
Sources: FMDQ, AbokiFX, United Capital Research

The new directive will be a major shift for most of the multinationals and large local manufacturers, especially in the FMCG space, with huge FX needs. We understand that most of them have related-party procurement agents in Europe or Asia who purchase raw material, machinery, equipment, etc. on their behalf. Certainly, the previous structure provides an avenue for abuse, but it is the structure they are used to.

Hence, we expect some form of pushback, especially as the circular was silent on what will happen to Form M opened prior to now, that does not conform to this new policy.

In the absence of an exception to key players, the parallel market is likely to witness further pressure. So, we imagine that the CBN may be open an engagement with key manufacturers to reach an amicable agreement. Still, this may further pressure parallel market rates in the interim amid the neverending speculative attacks on the local unit.

United Capital Research

CNN’s African Voices Changemakers meets the founder of Slum2School Africa

Esan Bolaji
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CNN’s African Voices Changemakers meets the founder of Slum2School Africa

CNN International meets Orondaam Otto, Founder, Slum2School Africa, who is dedicated to ensuring underprivileged children in Nigeria can go to school.

In July Orondaam Otto launched Nigeria’s first virtual learning classroom to help underprivileged communities across Nigeria access education during Covid-19 lockdown. So far, his initiative has reached around 1,000 children and the goal is to reach 10,000. He tells CNN, “We believe that every Nigerian child deserves the best. This is what inspires us to do what we do…I work with volunteers across the world to provide access to quality education for children across underserved communities.”

Otto has been devising innovative ways to engage students since visiting slum communities around Lagos in 2012, he explains: “I came to realise that there were a huge number of children in these slums who weren’t going to school or who didn’t have access to education. I asked myself back then what would really give me fulfilment after completing my national youth service.”

He was able to quickly organise and raise money: “I want people to understand that everybody can make a difference if you only believe in yourself. You have all the resources that you need right where you are. In about three months, I was able to get my friends together. We raised funds, and we were able to get 114 children into school for the first time.”

Buoyed by this early success, Otto founded Slum2School, a social initiative that provides education and health services to disadvantaged children.

READ ALSO: Olam prices additional S$100 million notes by re-opening its recent 4.00% SGD senior fixed rate notes, increasing total issuance size to S$500 million

The first project was in the Makoko community in Lagos where Otto focused on developing the infrastructure; fully equipping the classrooms and building an innovation lab where kids are learning computer programming and robotics.

CNN hears Otto’s aims for future projects: “Our plan is to primarily ensure that every public primary school across the country has beautiful facilities like this and this is a home economics lab which is also an enterprising development centre where children can learn all kinds of skills from catering, to fashion to bead making and we’re currently working on this and building this in schools across the state.”

The Makoko project is still ongoing and once complete it will become a model which can be replicated nationwide. In order to do this, Slum2School works with the government, big corporations and private donors in order to keep the organization sustainable.

An annual fundraising campaign involves over 3,000 volunteers in more than 30 different activities including walking across Lekki-Ikoyi bridge in Lagos. CNN meets Omolola Oyewloe, a lawyer who volunteered two years ago and speaks about the importance of raising funds: “The first time I listened to the founder Otto on Instagram I fell in love with the way he projected the mission of the organization. Growing up I had friends who could not afford school tuition and they had to go to government schools which weren’t well equipped and so bringing this initiative in and making sure every child gets the quality education they deserve is something I could easily relate with because of my friends dropping out of school growing up.”

Alero Ayida-Otobo, Chairperson, Slum2School Africa, praises Otto for his vision and achievements in creating change: “Otto in summary has the ability to inspire. He has the ability to get you to do a lot more. He has the ability to execute and is a great strategic thinker and I actually think Slum2School is poised to change the narrative of volunteerism not just in Nigeria but in the continent of Africa.”

New headquarters in Leikki will include a factory to supply uniforms, bags and equipment to local schools. Otto tells CNN more about what this will offer: “It’s an exciting space that’s going to really facilitate innovation, creativity, learning, in all ways. We have various amazing spaces from the innovation lab we have there, to the arts and crafts centre, where kids are going to be learning how to paint and draw and build.”

In addition to the schools Otto and his team recognised that children often miss school due to illness and so they’re supporting those who require medical assistance, he says: “There’s also a huge medical program that’s been put in place to ensure that every child is not just learning but they are learning in a healthy condition. We have lots of children who need urgent medical attention with surgical interventions.”

Speaking about the impact of Slum2School Africa, Otto reflects: “We’ve seen lots of our young learners and teenagers who are in secondary school or university, who started community projects. Who have come together to enroll more children in their community. It’s inspiring seeing that ripple effect that we are creating as a community. And I think it’s fulfilling. It’s extremely fulfilling. And if I were to choose doing something again, I think I would choose this, and I think literally everyone is born to be a change maker.”

BRAND SPUR

Olam prices additional S$100 million notes by re-opening its recent 4.00% SGD senior fixed rate notes, increasing total issuance size to S$500 million

Brand Spur
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0
Olam prices additional S$100 million notes by re-opening its recent 4.00% SGD senior fixed rate notes, increasing total issuance size to S$500 million

Global food and agri-business Olam International Limited (“Olam”) announced that, on the back of additional investor demand, it has priced a S$100 million issuance (the “New Notes”) via reopening of its S$400 million 4.00% senior notes due February 2026 (the “Original Notes”) under its US$5,000,000,000 Euro Medium Term Note (EMTN) Programme.

The New Notes will be consolidated with the Original Notes to form a single series with a total size of S$500 million. The New Notes were issued at par, plus accrued interest from the issue date of the Original Notes and are expected to settle on September 1, 2020.

The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch acted as sole
dealer for the New Notes.

Proceeds from the issuance will be used by Olam for debt refinancing and general corporate
purposes.

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Public Cloud Hosting: US accounts for 47% of all global revenue in 2020

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Lekoil Appoints SP Angel as its Joint Broker

LEKOIL, the oil and gas exploration and production company with a focus on Nigeria and West Africa, announces today that it has appointed SP Angel Corporate Finance LLP to act as the Company’s Joint Broker with immediate effect.

Nigeria’s GDP slumps as expected

Nigeria’s Q2 GDP performance was released this morning, with GDP down 6.10% year-on-year and non-oil GDP down 6.05% y/y. This was not a surprise (although one forecast poll predicted a 4.05% decline), given that in June the World Bank forecast a 3.2% contraction and the IMF forecast a 5.4% contraction for full-year 2020, suggesting that some poor quarters lay ahead.

Bond Yields Push Higher As GDP Weakens By 6.10% YoY

The FGN bonds market opened the week to the news of negative growth for Nigeria’s GDP (-6.10% YoY). This compounded an already weak market, still reeling from the previous week’s primary auction. We noted offers across the benchmark curve all session, but with no matching bids as investors continue to sit on the sidelines. Even offers at the long-end at 10.00% levels were not seen as enticing enough to bring client demand. Consequently, yields expanded by c.25bps on the average across the bond curve.

Nigeria Agriculture Sector GDP: Still resilient amid COVID-19?

Yesterday, the National Bureau of Statistics (NBS) released Nigeria’s GDP report for Q2-2020. According to the report, the Agriculture sector which contributes c. 25.0% to real GDP was one of the 6 of 19 sectors to record y/y growth in Q2-2020. This was as the sector’s GDP growth slowed to 1.58% y/y in Q2-2020 (vs. 1.8% and 2.2% recorded in Q2-2019 and Q1-2020, respectively).

Insider Dealing: Eterna’s CEO designate increases stake in Eternal Plc

Nnamdi Obiagwu, Executive Director/Chief Operating Officer – (CEO Designate effective 1st September 2020) of Eterna Plc, has acquired 200,000 shares (N1.90 per share) of the company in accordance with the Nigerian Stock Exchange policy on insider dealing.

IITA and EAGC agree to work towards producing aflatoxin-free grains for health and trade

The International Institute of Tropical Agriculture (IITA) and the Eastern Africa Grain Council (EAGC) today signed an agreement to work together to tackle aflatoxin contamination of grains in the region to help ensure that they are safe for human and livestock consumption and meet export standards.

Ekiti Knowledge Zone: EKSG commences payment of compensation to owners of 955 hectares Of Land Acquired

Esan Bolaji
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Ekiti Knowledge Zone: EKSG commences payment of compensation to owners of 955 hectares Of Land Acquired

The Ekiti State government on Monday paid financial compensation to some landowners whose lands were acquired recently for the establishment of the Ekiti Knowledge Zone. At the brief ceremony of presentation of Cheques to the affected beneficiaries, the state governor, Dr Kayode Fayemi said a total 955 hectares of land was acquired for the zone adding that Monday’s compensation, which was the first tranche, was for the five hectares to be used for the UBEC Model School.

The governor, who was represented by the Chief of Staff, Mr Biodun Omoleye noted that he was fulfilling the promise he made during a consultative meeting he held with representatives of the landowners from the area.

Dr Fayemi explained that the ‘Pay as You Acquire’ model was adopted so that payments can be done in phases as utilization arises. He also highlighted the uniqueness of the “Pay as you use“ model to include removal of the usual bottlenecks, inefficiency, and unnecessary delay associated with the payment of compensation to landowners, as well as enhancing prudent management of government resources. The governor disclosed that contractors who would handle the model school have been mobilized to site, adding that the work would be completed in record time.

READ ALSO: Equities: Bulls Hold Sway; ASI gains 0.25% on Tuesday

He said further, “You will recall that on Wednesday, February 19, 2020, I held a consultative meeting with the representatives of landowners of Ekiti Knowledge Zone from Ijan Ekiti. I gave my word then that they will be adequately and fairly compensated for their produce on land acquired for Ekiti Knowledge Zone in strict compliance with the Land Use Act.

“We are here today to strengthen the bond and put smiles on the faces of our farmers whose crops and other farm produce were affected by the model school project development. We are practicing what we preach by putting our words into action. Indeed, we are walking the talk!

“The Ekiti Knowledge Zone project is on course. For the model school, contractors have been mobilised and work has commenced at the site. I assure you all that this project like every other project will receive adequate attention and will be completed on schedule. Despite the global economic realities, we are on the move and the Ekiti state of our dream is in focus. With your support and cooperation, we are going to achieve the desired dreams for our dear state.

“I must commend the management of the Ekiti Knowledge Zone for the “Pay as You Use” model of compensation that was proposed and adopted for the EKZ project, which avails us the opportunity and privilege of compensating the owners of the 5 hectares being used for the model school now.

“The uniqueness of the “pay as you use” model of compensation is two-fold. The usual bottlenecks, inefficiency, and unnecessary delay associated with the payment of compensation to farm owners have been erased completely. The model will also enhance the prudent management of government resources. Instead of using billions of naira that may not come handy at the immediate to pay compensation for 1,000 hectares of land which may not be completely utilised in years, it is novel and sensible to acquire and pay for what you need at the immediate.

“This implies that compensation for the acquired 955 hectares of land for Ekiti knowledge zone will be done in phases as utilisation arises. As a government that wants both urban and rural development, we are proud to toe this line and we determined to sustain this developmental drive.”

While congratulating those who received the first tranche of compensation, Dr Fayemi urged the beneficiaries to utilise the fund judiciously and purposefully.

A total of ten beneficiaries received various sum of money from the government.

BRAND SPUR

Equities: Bulls Hold Sway; ASI gains 0.25% on Tuesday

Esan Bolaji
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Equities: Bulls Hold Sway; ASI gains 0.25% on Tuesday

The stock market on Tuesday extended its bullish-run to the fifth trading session buoyed by buying interests in BUACEMENT (+2.83%), FLOURMILL (+1.08%) and JBERGER(+3.0%) which pushed the All-Share Index +0.25% higher to 25,291.73 points. ]

Consequently, Week-to-Date returns rose to +0.28%, while on a Month-to-Date, Quarter-to-Date, and Year-to-Date basis equities have returned +2.42%, +3.32% and -5.78% respectively.

Investors gained N32.67 billion after staking N1.168 billion on 251.3 million units of shares in 3,713 deals. Daily volume traded saw an uptick of 0.06% and market capitalization rose to N13.19 trillion.

The breadth of the market weakened to 0.75x from 1.0x at the start of the week on the back of 15 advancers and 20 laggards in the day?s trade.

Top active stocks were TRANSCORP (94.88 million units), UBA (33.17 million units) and WEMABANK (14.55 million units). By value, the top stocks were UBA (N216.45 million), ZENITHBANK (N176.45 million) and GUARANTY (N120.45 million).

Top gainers in the day were NEM (+9.63%), WAPIC (+6.25%), JAPAULOIL (+4.76%), JAIZBANK (+3.51%) and JBERGER (3.03%). On the other hand, the biggest decliners were BETAGLAS (-9.99%), MAYBAKER (-9.90%), ARBICO (-9.52%), CILEASING (-9.09%) and CUTIX (-7.89%).

2 out of 5 sector indices under our coverage closed in the green. The Insurance Index gained +1.62% and Industrial Goods advanced by +1.10%.

Banking Index, Consumer Goods Index and Oil and Gas Index declined -0.22%, -0.07% and -0,04% respectively.

The five-day gaining streak so far is the longest since a six-day bull-run between July 29 and August 7. Therefore, we expect to see investors take profit in subsequent trading sessions.

PFI Capital Limited

IITA and EAGC agree to work towards producing aflatoxin-free grains for health and trade

Esan Bolaji
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0
IITA and EAGC agree to work towards producing aflatoxin-free grains for health and trade

The International Institute of Tropical Agriculture (IITA) and the Eastern Africa Grain Council (EAGC) today signed an agreement to work together to tackle aflatoxin contamination of grains in the region to help ensure that they are safe for human and livestock consumption and meet export standards.

Aflatoxin is a highly poisonous chemical produced by a naturally occurring fungus known as Aspergillus flavus. The fungus is found in soils and attacks important crops such as maize and groundnut while in the field and in storage when they are not dried and stored properly.

IITA and EAGC agree to work towards producing aflatoxin-free grains for health and trade
Photo by Maddi Bazzocco

Aflatoxin poses a serious health threat to both human beings and animals. Acute poisoning as a result of consuming foods with extremely high levels of aflatoxin can lead to instant death. Chronic exposure, on the other hand, as a result of consuming foods with above-the-allowable safe levels, for many years, can result in lowered immunity, low birth weight, and irreversible stunting in children and liver cancer.

Aflatoxin also causes loss in trade revenues due to contamination of products that do not meet the required standards. According to the Partnership for Aflatoxin Control in Africa (PACA), Africa loses an estimated US$670 million in rejected export trade annually due to contamination by aflatoxin.

In the partnership agreement, IITA, a not-for-profit research institution that generates innovations to address major agricultural challenges in Africa, and EAGC, a membership organization that brings together key players across the grain value chain in Eastern and Southern Africa, will, among others, promote best practices and proven technologies to manage aflatoxin.

This will include promoting the use of Aflasafe™, an innovative, safe, and natural product that drastically reduces aflatoxin contamination in maize and groundnuts as part of an integrated aflatoxin management strategy.

The technology was originally developed by the United States Department of Agriculture – Agricultural Research Service (USDA-ARS) and is widely used in the US. IITA, in partnership with the USDA, has successfully adapted this technology for use in many countries in Africa.

“Aflatoxin contamination is a serious food safety issue in sub-Saharan Africa and also a major impediment to trade. We are therefore excited about this partnership with EACG that will, among others, support efforts to create awareness on aflatoxin and mitigation strategies.

This includes the use of the very effective, safe, affordable and easy-to-use aflasafe technology. This will help towards the realization of our vision for an aflatoxin-free, food-secure Africa,” said Kenton Dashiell, IITA Deputy Director General for Partnerships for Delivery at the virtual signing of the memorandum of understanding (MoU).

EAGC, on the other hand, seeks to identify best practices in food safety and quality control among grain value chain actors to increase their potential in intra- and inter-African grain trade. The EAGC Executive Director, Gerald Masila, stated that “By reducing aflatoxin contamination in grains to safe levels, Africa could meet international food safety standards, thereby creating a huge opportunity for an increase in grain exports potential.”

The MoU will leverage each organization’s comparative advantage to promote mutually beneficial cooperation in the areas of advocacy, research, capacity development, and awareness creation.

EAGC and IITA will work together to shape quality grain production, support market linkages for the increased regional grain trade, promote the implementation of EAC staple foods standards and aflatoxin control, and mobilize resources to attain and manage aflatoxin standards.

The MoU is intended to increase cooperation through knowledge and experience sharing as well as mobilization of resources to maximize desired outcomes.

The Aflasafe technology had been registered for commercial use and transferred to the private sector for scale-up. To date, 14 products have been registered in 10 countries (Nigeria, Kenya, Senegal, The Gambia, Burkina Faso, Ghana, Zambia, Tanzania, Malawi, and Mozambique) with more under development in 12 countries.

The International Institute of Tropical Agriculture (IITA) is a not-for-profit institution that generates agricultural innovations to meet Africa’s most pressing challenges of hunger, malnutrition, poverty, and natural resource degradation.

The Eastern Africa Grain Council (EAGC) is a regional organization with membership drawn from across Eastern and Southern Africa. Membership is drawn from grain value chain stakeholders currently with presence in 10 countries across Africa, including Burundi, Kenya, Uganda, Rwanda, Tanzania, Zambia, Malawi, South Sudan, DRC Congo, and Ethiopia.

EAGC’s key products and services include the promotion of structured trading system (STS) through the warehouse receipting systems (WRS), and Regional Grain Trading platform (G-Soko – g-soko.com), Market Information Systems (MIS) offered through the Regional Agricultural Trade Intelligence Network (RATIN- (www.ratin.net ) and evidence-based Policy Advocacy and Training and Capacity Building through the Grain Business Institute (GBI – www.grain.institute).

MoneyGram expands mobile wallet capabilities and leading position in Africa with new strategic partnerships

Esan Bolaji
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MoneyGram expands mobile wallet capabilities and leading position in Africa with new strategic partnerships

New partnerships with Airtel, Thunes, InTouch and MFS Africa give MoneyGram access to mobile wallets in 28 markets in Africa, enabling the Company to further accelerate digital growth and lead the industry as mobile money adoption grows rapidly across the continent.

MoneyGram

MoneyGram International, Inc. (NASDAQ: MGI), a global leader in cross-border P2P payments and money transfers, today announced four mobile wallet and fintech partnerships that give the Company access to mobile wallets in 28 markets in Africa, creating the largest footprint in the industry. As mobile money adoption rapidly grows in Africa, these new partnerships with Airtel, Thunes, InTouch and MFS Africa will help drive strong digital growth as the Company continues to execute its customer-centric digital transformation.

  • Airtel, a leading provider of telecommunication and mobile money services, has a presence in 14 countries across Africa and over 19 million customers alone. Through this collaboration, customers will be able to receive funds from around the world, access the money immediately, transfer to other individuals, or convert to cash at many available branches, kiosks and agents.

  • Thunes, InTouch and MFS Africa, prominent fintech payment providers, are platforms that bridge the gap between the rapidly growing mobile money ecosystem in Africa and global online digital payments. The reach of the three providers will enable MoneyGram to quickly and significantly expand its coverage across the continent.

Services at Thunes and InTouch begin as early as this week, while the partnerships with Airtel and MFS Africa will go live in the next few months.

“Our digital business has seen amazing growth over the past several years, and these new partnerships are important milestones as we execute our strategy to accelerate digital growth by expanding access to mobile wallet capabilities,” said Kamila Chytil, MoneyGram Chief Operating Officer and leader of the Company’s digital business. “Customer demand for mobile wallets has increased significantly over the last few years and with the onset of the global pandemic, the launch of these strategic partnerships is more important than ever.”

According to the GSMA’s 2019 State of the Industry Report on Mobile Money, the mobile money industry is recording astonishing growth with roughly $730 billion global transactions in 2019. The organization reports Africa as one of the fastest growing mobile money transaction continents in the world with an estimated 190 million active wallets.

“Africa is seeing significant growth in mobile money adoption across the continent, and we’re excited to partner with Airtel, Thunes, InTouch and MFS Africa to further support our collective goals to mobilize the movement of money,” said Grant Lines, MoneyGram Chief Revenue Officer. “We continue to execute our plan to overhaul major receive markets, and I look forward to building upon our strong momentum in Africa through these new partnerships.”

MoneyGram recently reported that its global account deposit and mobile wallet transactions increased 165% in July, which is an acceleration from the second quarter where the Company reported 148% year-over-year transaction growth. These partnerships are expected to further support this strong growth.

About MoneyGram International, Inc.
MoneyGram is a global leader in cross-border P2P payments and money transfers. Its consumer-centric capabilities enable family and friends to quickly and affordably send money in more than 200 countries and territories, with over 70 countries now digitally enabled.

MoneyGram leverages its modern, mobile, and API-driven platform and collaborates with the world’s leading brands to serve millions of people each year through both its walk-in business and its direct-to-consumer digital business.

With a strong culture of innovation and a relentless focus on utilizing technology to deliver the world’s best customer experience, MoneyGram is leading the evolution of digital P2P payments.

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CBN directs banks to take over electricity bills collection from DisCos

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MTV Base celebrates leading black women in music with queens of base

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Public Cloud Hosting: US accounts for 47% of all global revenue in 2020

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Lekoil Appoints SP Angel as its Joint Broker

LEKOIL, the oil and gas exploration and production company with a focus on Nigeria and West Africa, announces today that it has appointed SP Angel Corporate Finance LLP to act as the Company’s Joint Broker with immediate effect.

Nigeria’s GDP slumps as expected

Nigeria’s Q2 GDP performance was released this morning, with GDP down 6.10% year-on-year and non-oil GDP down 6.05% y/y. This was not a surprise (although one forecast poll predicted a 4.05% decline), given that in June the World Bank forecast a 3.2% contraction and the IMF forecast a 5.4% contraction for full-year 2020, suggesting that some poor quarters lay ahead.

Adesola Adeduntan to be honored as Forbes Best of Africa

Esan Bolaji
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Adesola Adeduntan to be honored as Forbes Best of Africa

September 11, 2020, will mark an auspicious day for Dr Adesola Adeduntan, as he will be honoured alongside prominent African business leaders such as CEO of Ocean Marine Security Ltd, Idahosa Wells Okunbo; and founder and executive chairman of Online Integrated Solutions Ltd, Mahmood Ahmadu, for the Forbes Best of Africa awards.

Dr Adesola Kazeem Adeduntan is the managing director/chief executive officer of First Bank of Nigeria Limited, a visionary leader and an achiever to be reckoned with in the financial services sector, who earlier in the year bagged the much-coveted and celebrated Cranfield University School of Management Distinguished Alumnus of the year Award.

Forbes Best of Africa, Adesola Adeduntan
Dr. Adesola Adeduntan Brand Spur

A veteran in the banking world and a veterinary doctor by training, Dr Adesola Adeduntan believes strongly in the importance of doing well by doing good. In March 2020, Dr Adesola Adeduntan spoke at the Edinburgh School of Business about financial institutions’ role as drivers of financial inclusion.

In his leadership role at First Bank of Nigeria Limited (FirstBank), Dr Adesola Adeduntan is part of a 126-year legacy of sustained development-oriented services.

Also, in a recent media intelligence report presented by P+ Measurement Services, Adesola Adeduntan topped the list of most prominent and reputable Nigerian banking CEOs in Q2 2020. 

The virtual event which will be held in conjunction with Foreign Investment Network (FIN) will be an online roundtable discussion to be supported by the World Philanthropy Network will feature former Nigerian President, Olusegun Obasanjo, presenting a keynote address.

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Public Cloud Hosting: US accounts for 47% of all global revenue in 2020

Data presented by Buy Shares indicates that in 2020, the United States is set to account for almost half of the public cloud hosting revenue. According to the data, the US will account for 47.21% of the global revenue of $95.47 billion.

Lekoil Appoints SP Angel as its Joint Broker

LEKOIL, the oil and gas exploration and production company with a focus on Nigeria and West Africa, announces today that it has appointed SP Angel Corporate Finance LLP to act as the Company’s Joint Broker with immediate effect.

Nigeria’s GDP slumps as expected

Nigeria’s Q2 GDP performance was released this morning, with GDP down 6.10% year-on-year and non-oil GDP down 6.05% y/y. This was not a surprise (although one forecast poll predicted a 4.05% decline), given that in June the World Bank forecast a 3.2% contraction and the IMF forecast a 5.4% contraction for full-year 2020, suggesting that some poor quarters lay ahead.

Bond Yields Push Higher As GDP Weakens By 6.10% YoY

The FGN bonds market opened the week to the news of negative growth for Nigeria’s GDP (-6.10% YoY). This compounded an already weak market, still reeling from the previous week’s primary auction. We noted offers across the benchmark curve all session, but with no matching bids as investors continue to sit on the sidelines. Even offers at the long-end at 10.00% levels were not seen as enticing enough to bring client demand. Consequently, yields expanded by c.25bps on the average across the bond curve.

Nigeria Agriculture Sector GDP: Still resilient amid COVID-19?

Yesterday, the National Bureau of Statistics (NBS) released Nigeria’s GDP report for Q2-2020. According to the report, the Agriculture sector which contributes c. 25.0% to real GDP was one of the 6 of 19 sectors to record y/y growth in Q2-2020. This was as the sector’s GDP growth slowed to 1.58% y/y in Q2-2020 (vs. 1.8% and 2.2% recorded in Q2-2019 and Q1-2020, respectively).

Insider Dealing: Eterna’s CEO designate increases stake in Eternal Plc

Nnamdi Obiagwu, Executive Director/Chief Operating Officer – (CEO Designate effective 1st September 2020) of Eterna Plc, has acquired 200,000 shares (N1.90 per share) of the company in accordance with the Nigerian Stock Exchange policy on insider dealing.

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