British Airways launches 2020 special to London and New York

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British Airways launches 2020 special to London and New York

British Airways’ New Year special launched today (15 January) with fares from Abuja to London starting from US$659 and those from Lagos from US$809.

The offer includes flights to New York via London, with fares from Abuja priced from US$1 199. Flights from Lagos to New York start from US$929.

The offer runs until 29 January and is subject to availability.

Kola Olayinka, British Airways commercial manager in West Africa, says now is a good time for shoppers to visit New York or London to take advantage of post-Christmas sales.

“In London, many attractions are quieter than usual, so it’s also a great time to visit places such as The Tower of London, the Natural History Museum or Madame Tussauds without having to queue for a long time. There are also good deals on accommodation through British Airways Holidays.”

British Airways is a full-service airline and provides complimentary food and drinks, free seat selection 24 hours before departure, a selection of in-flight entertainment and a generous baggage allowance. For more information about offers and when they are valid for travel visit britishairways.com or a travel agent.

Fares are inclusive of taxes and are subject to availability.

Tokenisation to Generate Over $40 Billion in Revenues Globally By 2024, as Remote Tokenisation Scales Up

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Tokenisation to Generate Over $40 Billion in Revenues Globally By 2024, as Remote Tokenisation Scales Up
Key Standards for Secure Mobile Commerce to Increase Revenues by 140% over Next 5 Years
Hampshire, UK – 20th January 2020: A new report from Juniper Research found that annual revenues from tokenised mobile payments, where account details are replaced with data useless to fraudsters, will exceed $40 billion by 2024, growing from an estimated $17 billion in 2019. Of this, over $30 billion will be through remote eCommerce, rather than contactless payments at the point of sale.

For more insights, download our free whitepaper, The Impact of Regulation on Securing Mobile Payments.

Standards to Drive up Remote Tokenisation

The new research, Mobile Payment Data Security: Tokenisation, Encryption & Regulation 2020-2024, found that the ability to use standard tokens and multifactor authentication protocols through Secure Remote Commerce will increase the use of such security measures in browser-based commerce, whereas previously it was mostly limited to native apps. The report notes that this will be aided by 3D Secure 2.0 standards, which become mandatory for most payment networks worldwide. As a result Juniper Research believes virtually all remote payments will be tokenised by 2024, along with all Near Field Communication-based payments.

The only places that will be exempt from this is emerging economies where local players do not necessarily adhere to EMVCo specifications.

Secure Future in the Cloud and on Devices

The report shows over 33% of tokens used for mobile payments will be persistent by 2024, thanks to universal card-on-file tokenisation systems that allow merchants to securely store payment credentials, as well as some smartphone vendors providing persistent NFC tokens.

Juniper Research expects the use of persistent tokens to decline for contactless payments as solutions leveraging single-use tokens gain market share. However, the report also shows the wider merchant ecosystem for remote payments will keep persistent tokens in common usage over the next 5 years.

“Mobile payment involves a wide ecosystem of platforms, networks and devices,” remarked research author James Moar. “Many of these devices will not have sufficient hardware capacity to have strong on-device security, meaning cloud-based tokens will be necessary to ensure adequate security.”

Juniper Research provides research and analytical services to the global hi-tech communications sector; providing consultancy, analyst reports and industry commentary.

Flour Mills Nigeria PLC intends to issue up to N20Billion in medium-term bonds

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Flour Mills Nigeria PLC intends to issue up to N20Billion in medium-term bonds

Flour Mills of Nigeria Plc (referred to as “Flour Mills “or “FMN”), Nigeria’s leading integrated food business and agro-allied Group, owners of the iconic brand – ‘Golden Penny,’ today announced that following approval by its Board of Directors, it intends to issue up to N20,000,000,000(Twenty Billion Naira only) in medium-term bonds subject to appropriate pricing.

The bonds, which are expected to be Senior Unsecured Fixed Rate Bonds with tenors of 3 and 5 years respectively, are part of its previously-approved N70, 000,000,000 (Seventy Billion Naira only) Bond Issue Programme. The process of obtaining requisite approvals from the Securities and Exchange Commission (SEC) for issuance of the bonds has begun.

The management of FMN has disclosed that the proceeds from the bonds will be used to refinance existing short-term debt and increase further the efficiency of its balance sheet, with the ultimate objective of maximizing the wealth of its shareholders.

Unilever Nigeria appoints new Managing Director

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Unilever Nigeria appoints new Managing Director

This to notify The Nigerian Stock Exchange and our esteemed shareholders that by a Written Resolution of the Board of Directors of Unilever Nigeria Plc dated 8 January 2020 the Board considered and approved the recommendation of the Governance, Remuneration and Risk Management Committee of the Board of Unilever Nigeria Plc. for the appointment of a Director.

Accordingly, the Board appointed Mr Carl Raymond R. Cruz to the Board as the Managing Director of Unilever Nigeria Plc. with effect from 1 February 2020. The Board warmly welcomes Mr Carl Raymond R. Cruz and wishes him all the best in his new role.

Below is Mr Carl Raymond R. Cruz’s profile

Mr Carl Raymond R. Cruz. is a Filipino and currently Chairman, Unilever Sri Lanka. He holds a Bachelor of Science degree in Marketing from De La Salle University, Philippines. He comes with an extensive career in Unilever D & E Markets in Asia (Philipines, Thailand, India and Sri Lanka). Since joining Unilever in 1992, Carl has gained over 26 years’ experience working in Customer Development, and in Marketing roles across Home Care, Beauty & Personal Care and Foods. Most recently, as Chairman of Unilever Sri Lanka, Carl has successfully steered the business to a sustainable and competitive growth trajectory. He has not only established Unilever Sri Lanka as a market leader across key categories but also as the most admired employer, despite some very challenging conditions, including the Horana Fire in 2016 and the Easter Sunday Attacks in 2019. Under Carl’s leadership, the Sri Lanka business is well-positioned to become a lean, agile and digitally-enabled organisation. Carl’s passion for inclusion, experimentation and empowerment is reflected in his vision of Re-Imagine USL – a transformational journey, that he has led from the front.

PZ Cussions appoints new Group Company Secretary

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PZ Cussions appoints new Group Company Secretary

The Board of Directors (‘the Board) of PZ Cussons Nigeria Plc (‘the Company’), hereby announces the following exit and appointment:

1. EXIT – MRS ABIOLA OMOWUNMI LASEINDE

Mrs Abiola Laseindc’s exit as the Company Secretary of the Company is with effect from 31 st December 2019.

2. APPOINTMENT – MRS JACQUELINE EZEOKWELUM

Mrs. Jacqueline Ezcokwelurne has been appointed as the new Group Company Secretary effective 1st January 2020.

Mrs Ezeokwelurne joined PZ Cussons Nigeria Plc on 15th February 2018 as the Assistant Company Secretary. She is a lawyer and a Corporate Governance Professional with over 12 years’ experience. Prior to her current role, she was a Senior Associate of Paul Usoro & Co, a leading Corporate Commercial Law Firm in Nigeria and also served as the Company Secretary / General Counsel of CR Services (Credit Bureau) Plc.

Olam Announces a Re-Organisation of Its Business to Unlock Long-Term Value

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Olam Announces a Re-Organisation of Its Business to Unlock Long-Term Value
  • Re-organises the business into two new distinct operating groups focusing on food ingredients and global agri-business
  • Simplifies the portfolio, sharpens focus, enables investors to participate in two diverse themes via potential carve-outs or IPOs and accelerate profitable growth
  • Olam International will hold the two new operating groups, provide parenting advantage, enable synergies and accelerate growth by developing gestating businesses to full potential and incubating new businesses while releasing capital from divestments.

Singapore, January 20, 2020 – Global food and agri-business Olam International (“Olam”, the “Company” or “the Group”) today announced that building on its Strategic Plan, as set out in January 2019, it has completed the exercise with independent financial advisors to explore options to unlock and maximise the Company’s long-term value.

Olam will re-organise its diverse business portfolio to create two new coherent operating groups that are well-positioned for further growth in line with key consumer trends and market opportunities:

  1. Olam Food Ingredients (OFI) offers sustainable, natural, value-added food products and ingredients so that consumers can enjoy the healthy and indulgent products they love. It consists of Olam’s industry-leading businesses of Cocoa, Coffee, Edible Nuts, Spices and Dairy. OFI has built a unique global value chain presence including its own farms, farm-gate origination and manufacturing facilities. OFI partners with customers, leveraging its complementary and differentiated portfolio of “on-trend” food products, to co-create solutions that anticipate and meet changing consumer preferences as demand increases for healthier food that is traceable and sustainable.
  2. Olam Global Agri (OGA) is a leading player in high-growth Asian and African countries supplying food, feed and fibre to meet rising demand and a shift to protein-based diets. This group includes the differentiated businesses of Grains and Animal Feed, Edible Oils, Rice, Cotton and Commodity Financial Services.

OGA has built proprietary operating capabilities including significant strengths in global origination, processing, trading, logistics, distribution, farming and risk management, and a deep understanding of the market via on-the-ground presence in these emerging markets over 30 years.

This bold plan will enable the Company to explore options to maximise Olam’s long-term value over and above the Strategic Plan via potential carve-out and capital raising options, including IPO listing for OFI and OGA.

Olam International (OIL), as the parent company of OFI and OGA, will play a key role in unlocking the full value of the Olam Group by providing stewardship to the new operating groups and accelerating growth:

  • As a steward, Olam will ensure the continuity of the “Olam Way”, including its unique entrepreneurial culture, implement cross-cutting initiatives such as AtSource, and drive key enablers such as Sustainability, Operational Excellence and Digital Transformation. It will also offer shared services to OFI and OGA to optimise synergies.
  • As an accelerator, Olam will nurture gestating businesses to full potential, including Packaged Foods, Infrastructure & Logistics and Olam Palm Gabon, as well as incubate new engines for future growth. In addition, it will manage the responsible divestment of non-core assets and businesses identified in the Strategic Plan and redeploy capital for further growth.

Mr. A Shekhar has been appointed as the CEO of OFI and will, therefore, step down from his current role as Group Chief Operating Officer of Olam with immediate effect. Mr. Sunny Verghese will hold a charge as CEO of OGA and Olam International, in addition to continuing as Group CEO.

Explaining the rationale, Co-Founder and Group CEO, Sunny Verghese said: “Over the past 30 years, Olam has built a valuable portfolio of businesses that have achieved leadership positions. By simplifying our businesses across two distinct and coherent groups, each with a clear vision for profitable growth, it sharpens our focus and provides opportunities to capitalise on key market trends, while continuing to leverage the benefits of the Olam Group.

“We believe this will enable us to explore potential carve-outs and IPOs in a sequential manner and attract additional investors who are aligned with the vision of these two new groups in order to maximise the value of our business.” 

Chairman of the Board, Lim Ah Doo said: “The Board of Directors, building in part on the recommendation from the two independent financial advisors, believes that the re-organisation will enable each operating group to pursue its own vision, take advantage of new market opportunities, optimise resources and attract new talent. The Board has every confidence that this significant step forward will allow the Company to strengthen and capitalise on its strong foundation to achieve higher growth and value creation, which we believe will be welcomed by our stakeholders.” 

As the re-organisation progresses, the Company will provide periodic updates to stakeholders on the process and related developments, including changes in operational and financial reporting in line with the new structure.

Nestlé Recognized for Leading Efforts against climate change

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Nestlé Recognized for Leading Efforts against climate change

Nestlé has today been again commended for its climate action, achieving a place on global environmental impact non-profit CDP‘s prestigious ‘A-List’ for climate change, based on the company’s climate reporting in 2019.

CDP‘s annual environmental disclosure and scoring process are widely recognized as the gold standard of corporate environmental transparency. The annual ‘A list’ names the world’s businesses leading on environmental performance. Nestlé was recognized for its actions to cut emissions, mitigate climate risks and develop the low-carbon economy. Nestlé is one of a small number of high-performing companies out of thousands that were scored.

Magdi Batato, Executive Vice President, Head of Operations at Nestlé, said: “Nestlé is pleased to be on the CDP climate ‘A list’ again this year. This pays tribute to our leadership in climate change, which is one of the biggest threats we face as a society and to the sustainability of our business. Last year, we announced that we will accelerate action to tackle climate change and committed to zero net emissions by 2050. We will continue to step up our efforts and we call on others to embark on this journey with us.”

Nestlé’s 2050 net-zero ambition builds on the company’s decade-long efforts to reduce greenhouse gas emissions in its value chain. Plans to achieve this goal include restoring farmland and forests, increasing the use of renewable energy and reformulating products that have a better environmental footprint and contribute to a balanced diet.

As the company continues to step up its climate efforts, last week Nestlé announced it will invest up to CHF 2 billion to lead the shift from virgin plastics to food-grade recycled plastics and to accelerate the development of innovative sustainable packaging solutions.

Angola Shadow State Executives Imperil Privatisation Agenda

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Angola Shadow State Executives Imperil Privatisation Agenda

Specialist risk intelligence firm EXX Africa publishes a new report looking into the background of the ongoing anti-corruption campaign in Angola. The full report is available on request and key findings are presented below.

 

LONDON, UK – Media
OutReach – 20 January 2020 – EXX Africa publishes a special report on Angola shadow state executives who imperil the
country’s privatisation process.

 

Using a high-profile anti-corruption
campaign as a distraction, the Angolan political and business elite is once
again deeply entrenched in embezzling funds from Sonangol contracted
services.

 

Ongoing trials and investigations in Angola
display a lack of judicial due process and government bias in
politically motivated targeted prosecutions, as well as public tarnishing of
senior judges and prosecutors.

 

This pattern bodes ominously for the
IMF-backed privatisation agenda in which the ruling elite will seek
lucrative stakes in state assets through opaque financing structures.

 

The transition of
political power in Angola has failed to root out entrenched state corruption
over the past two and a half years, while the current government is engaged in
new forms of fraud and embezzlement of state revenues.

 

For any further
comment or a full copy of the report, please contact info@exxafrica.com

The issuer is solely responsible for the content of this announcement.

About EXX Africa

EXX Africa is a specialist intelligence
firm providing analysis and forecasts on political, security, and economic risk
across all African countries. The company was founded in 2015 and has since
become a leading risk advisory and consultancy with a broad network of clients
ranging from DFIs, banks, traders, corporates, and insurers, to governments and
military forces worldwide.

A Good Start to 2020 – Desay SV Singapore received the Vehicle Safety Assessment (Milestone 1) Approval to test autonomous vehicles in Singapore

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A Good Start to 2020 – Desay SV Singapore received the Vehicle Safety Assessment (Milestone 1) Approval to test autonomous vehicles in Singapore

SINGAPORE – Media OutReach – 20 January 2020 – For multinational automotive electronics
innovator, Desay SV Automotive (Desay SV), 2019 ended with good news leading to
a good start for 2020. Desay SV Singapore was successfully awarded in November
2019, the Vehicle Safety Assessment (Milestones 1) license by the Singapore Land
Authority of Transport (LTA) and The Centre of Excellence for Testing and
Research of Autonomous Vehicles (CETRAN). The M1 license permits Desay SV to carry
out Autonomous Vehicle (AV) trials for unmanned vehicles within approved One-North test routes under an actual
traffic environment.

 

Singapore
is looking to be the leading global hub in the development of autonomous
vehicle technology by exploring ways to leverage the latest AV technology for
its land transport system. The launch of CETRAN in August 2016 – a 2-hectare
test facility developed by LTA, NTU and JTC — sees Singapore’s efforts to
spearhead the development of testing requirements and technology for AVs. With
this enabler, LTA is able to work with partners to deploy new AVs technologies
safely on the public roads. For Desay SV, this is an opportunity as the company
chose to set up its first overseas R&D Research Division last year in
Singapore to exclusively develop frontier technologies in Level 4 and
Level 5 vehicle autonomy and automotive cybersecurity in collaboration
with the Economic Development Board (EDB).

 

With
the award of M1 license, in which Desay SV has successfully passed the first
stage road tests (out of three stages), thus allowing its test vehicles to be
tested on authorized public road for AVs tests. Desay SV can look forward to
executing its plan to meet the second stage road tests for Milestones 2 license,
where Desay SV’s test vehicle will be assessed on advanced autonomy
technologies and safety on designated public roads.

Future-ready with 5G: Speed for consumers, innovation for advertisers in South East Asia

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Future-ready with 5G: Speed for consumers, innovation for advertisers in South East Asia

  • New Verizon Media study finds excitement spreading for 5G in the region
  • Consumers looking forward to faster data transfer speeds, spectacular
    video streaming
  • Advertisers waiting to explore more immersive ad formats, enhanced
    content production

SINGAPORE – Media OutReach – 20 January 2020 – Verizon Media
today shared findings from its 5G Advertiser and Consumer Outlook Study SEA
2020*. The study conducted with
Publicis Media’s Data Science division, surveyed over 600 consumers and 140
marketing professionals from Singapore, Malaysia, Indonesia and the Philippines
— countries that are targeting to launch commercially viable 5G networks as
early as 2020.

 

The study examines
how both consumers and advertisers expect 5G to transform experiences in the
very near future. “Excitement about 5G is spreading across the region, both
among consumers and advertisers. This study shines light on what consumers are
most looking forward to in a 5G world and the emerging opportunities for
advertisers to leverage 5G in new and exciting ways to connect with audiences,”
said Francis Fung, Senior Insights
Manager, International Consumer Growth Marketing, Verizon Media.

 

Among the
respondents surveyed, 92% had heard about 5G, while 53% said they were
‘extremely excited’ about the technology. However, despite the awareness
surrounding 5G, the actual benefits it will bring still remains a mystery for
SEA’s consumers and marketers. Only 32% and 20% respectively indicated they
were ‘at least moderately familiar’ with the benefits of the technology.

 

What consumers
want most in a 5G world

Respondents had
clear expectations on what they would like to gain from the implementation of
5G.

 

Speed is a clear winner: Faster
data transfer speeds came out on top, with 78% of respondents citing it as the
benefit they are most looking forward to and with good reason — with 5G,
downloading a full HD movie will only take 4 seconds.

 

Other benefits
consumers are looking forward to include experiencing better, faster
connectivity for their wearable devices (62%) and better video streaming (59%).

 

Interestingly,
seeing the traditional network experience improve is a lower priority for
consumers here, with only about a third (29%) looking forward to fewer or no
dropped calls. Close to half (49%) of respondents said they were hotly
anticipating consistent mobile coverage.

 

Video rules: On how consumers
plan to use 5G’s blazingly fast speeds, video streaming came out on top. It was
followed by content downloading, music streaming, gaming and watching TV
rounding off the ‘top 5 activities’ will be enhanced with 5G.

 

Value in 5G: Pricing did not
emerge as a major concern for consumers, with only 14% of respondents feeling
that cost is a key concern. More than half (51%) said they were willing to pay
more for 5G’s promised speed. On average, most reported they were willing to
fork out US$10 more, indicating that consumers are open to paying for better
experiences.

 

Improvements and opportunities ahead for
advertisers with 5G

The study found
that while advertisers overall are looking forward to the opportunities with
5G,  their ‘level of excitement’ varied
with the industry they serve. Advertisers across Electronics/ Tech, Financial
Services and Retail/ Ecommerce are ‘very excited’ about the arrival of 5G,
while marketers across healthcare and travel for instance, reported being
‘moderately excited.’

 

Slightly Excited

Moderately Excited

Very Excited

FMCG

Healthcare

Electronics/Tech

 

Pharmaceutical

Financial Services

 

Travel

Retail/Ecommerce

 

Hospitality

Personal care

 

 

Cosmetics

 

 

Telecoms

 

Big advantages ahead: 9 out of
10 advertisers believe 5G will lead to significant improvements across areas
like content production (88%), more immersive Ad formats (87%), better
targeting with more data (85%), and enhanced video streaming experiences (85%).

 

“With significantly
greater throughput and much lower latency, 5G will allow brands to power new
kinds of consumer experiences. Both volume and quality of content consumed will increase with 5G; that
includes not only video but also the more vivid immersive experiences like AR
and VR,” said Francis, adding,
“However, with only 20% of marketers already familiar with 5G, advertisers will
have to work strategically with the right partners to realise the opportunities
possible with the 5G revolution.”

 

Methodology

 

The Verizon Media 5G Advertiser
and Consumer Outlook Study SEA 2020 was developed based on first party research conducted over the course of
the fourth quarter of 2019. As part of the study, an online survey was
administered to 610 consumers and 144 marketing professionals across Singapore,
Malaysia, Indonesia and the Philippines.

 

Consumers surveyed were individuals between the ages
of 16 and 64, with access to the interview via mobile data or home broadband,
and played a part in deciding on their mobile/home broadband service provider.
Respondents include 152 in Singapore, 150 in Malaysia, 157 in Indonesia and 151
in the Philippines.

 

The marketing professionals surveyed were working in
a client-facing role and were at the time of the survey, currently working on a
client-based project. They possessed an average of 3 years of working
experience. Respondents include 35 in Singapore, 36 in Malaysia, 35 in
Indonesia, and 38 in Philippines.

 

About Verizon Media

Verizon Media, a division of Verizon Communications,
Inc., houses a trusted media ecosystem of premium brands like Yahoo, TechCrunch
and HuffPost to help people stay informed and entertained, communicate and
transact, while creating new ways for advertisers and media partners to
connect. From XR experiences to advertising and content technology, Verizon
Media is an incubator of innovation and is revolutionizing the next generation
of content creation in a 5G world.

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