Seven-Up Bottling Company (SBC) Managing Director’s fiery mail unsettles Nigerians

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Seven-Up Bottling Company (SBC) Managing Director’s fiery mail unsettles Nigerians

A leaked mail emanating from the Managing Director of Seven-Up Bottling Company (SBC), Ziad Maalouf, stating his determination to stop at nothing, to crush the dreams of Nigerians has begun to raise questions and generating controversy.

The leaked e-mail sent to Pepsi’s Heads of Depot across the country on November 13, 2019, was categorical in its intention to engage in battle with local soft drink manufacturers.

Below are excerpts of the leaked mail, and nagging issues that bug the mind:

“After our sales workshop day (Friday, November 1) and finance workshop day (Saturday), I decided to test our system in terms of readiness to go for War.”

“It is extremely obvious to me that we are not yet ready for war By Any Means”

Continuing Maloof’s statement said: “Let me start by explaining the competitive playground once again. This season is not like any other, so the mindset of growing vs last year, achieving budget, business as usual cost management, Will Not Work!!! The outcome of this season must write the future and destiny of the 3 major competitors, along with the future of B-Brand industry (Bigger pack and lower price concept) disruptions in Nigeria.”

“One company will flourish. One company will diminish. One company will finish. B-Brand disruptive business model will either become a temptation for anyone who has a bit of money to start own brand in Nigeria, or it will be a curse that ensures no one takes such a decision again.”

With these, the leaked mail has begun to raise concerns among other Nigerians who expressed extreme discomfort at the tone of violence conveyed in the mail.

A sampled opinion of the public revealed the following, Aloysius Igwe, a trader said “How open-ended is that statement? This is campaigns of dangerous dis-information.? This is physically harmful actions capable of undermining his supposed enemies.? How far would he be willing to go, to take down Nigerians who have dared to push the envelope and pursue dreams that have given them results.?”

Another Nigerian, Olawale Odulade, a civil servant said: “At what point does achieving critical benchmarks in a business year, become less important? The point at which one is consumed by the malicious desire to achieve the absolute destruction of Nigeria’s entrepreneurial spirit, even if it means applying dirty tricks and underhanded tactics? Where?, he queried.

Continuing, he said: “Why will anyone be disdainful of Nigerians? Why one believe Nigerians are not worthy of jumping into the serious end of entrepreneurship, and when they do, must be attacked most vehemently by any means necessary, to give way for our guests, most of whom are only here to do business and repatriate funds?, making it a curse for Nigerians who dare to dream in their homeland?

Like an aggrieved Nigerians said, “this is a dangerous step towards modern-day slavery and racism. At this point the general consensus appears to be that this leaked mail must be seen beyond being just another leaked information by a man feeling threatened by his position in the market space, but as a Hate Speech directed against a nation and its people, whose successes have justifiably come from simply making smart decisions, while operating within the guides of best practices, and reinvesting for further growth and expansion within the country, Alhassan Abdullai said.

Mercedes-Benz and Mercedes-AMG Top ‘10’ New Technologies Introduced for the 2020 Model Year

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Mercedes-Benz and Mercedes-AMG Top ‘10’ New Technologies Introduced for the 2020 Model Year

Mercedes-Benz has established a long tradition of introducing game-changing innovations that have continued to shape mobility. This pioneering spirit has existed since the first patent was filed for the Benz Patent Motorwagen over 133 years ago in 1886, and with each new model year or vehicle generation, Mercedes-Benz has continuously raised the bar for design, performance and technology to set new benchmarks in the industry. For the 2020 model year, here are the top 10 innovative new technologies that Mercedes-Benz has introduced.

  1. MBUX with Interior Assistant – Building upon the introduction of Mercedes-Benz User Experience (MBUX) from MY19, MBUX Interior Assistant allows intuitive, natural operation of different comfort and MBUX functions through movement recognition. A camera in the overhead console registers movements of the driver’s and front passenger’s hands and arms. When a hand approaches the touchscreen or the Touchpad on the centre console, the media display changes and individual elements are highlighted. Additionally, there are functions that can be controlled by simple hand gestures. For example, the reading lamp can be switched on and off by extending a hand towards the rearview mirror. The driver and front passenger can both program a personal, favourite function which is initiated using a horizontally outstretched index and middle finger 
  2. E-ACTIVE BODY CONTROL – Developed in-house by Mercedes-Benz, E-ACTIVE BODY CONTROL is a fully networked hydropneumatic, active suspension on a 48-volt platform, for the first time in combination with a newly-developed air suspension. This is the only system in the market where the spring and damping forces can be individually controlled at each wheel. This means that it not only significantly counteracts body roll, but also pitch and squat. 
  3. Carwash Function – A new standard function for the next generation GLS, when the Carwash Function has selected the vehicle automatically –
    • Adjusts the suspension to the highest position.
    • Folds in the exterior mirrors.
    • Closes the side windows and the sliding sunroof.
    • Suppresses the rain sensor information so that the windshield wipers remain switched off in the carwash.
    • Switches the climate control to the air-recirculation mode and, after eight seconds, activates the 360° camera’s front image to assist the driver when driving into the carwash.
    • Deactivates these settings automatically when the driver drives out of the carwash and accelerates to a speed above 12 mph. 
  4. Fully-variable 4MATIC – First premiering in the MY20 GLE, Mercedes- Benz has further developed the highly successful 4MATIC system with the introduction of fully variable all-wheel. This sophisticated system can vary torque distribution between the front and rear axle from 0-100%, depending on the selected driving mode, to further improve handling and traction in any situation. 
  5. V8 Engine with 48-Volt System – For MY20 Mercedes-Benz added an electrified V8 to the GLE and GLS model ranges with the new GLE 580 and the GLS 580. At the heart of this sophisticated engine is the powerful, electrified V8 Biturbo gasoline engine with a 48-volt on-board electrical system and integrated starter generator. This advanced powerplant offers an impressive output of 483 horsepower and 516 lb-ft of torque. In addition, it is capable of producing an extra 184 lb-ft of torque and 21 horsepower through EQ Boost over short periods. The integrated starter generator (ISG) is responsible for hybrid functions such as EQ Boost and energy recuperation, resulting in fuel savings previously reserved for high-voltage hybrid technology. The innovative ISG eliminates the need for a belt drive for ancillary components at the front of the engine, which reduces its overall length. 
  6. New ’35’ and newly developed ’45’ engine variant – The latest point of entry to the world of Mercedes-AMG. Now offered in the CLA and A-Class, the high torque, AMG-enhanced 2.0L Inline-4 turbo engine delivers 302 horsepower and is based on the M260 four-cylinder engine in the new A-Class Sedan. The CLA 45 is now powered by the newly developed M139 2.0-litre engine, the world’s most powerful turbocharged four-cylinder manufactured for series production producing 382 hp and 354 lb-ft. 
  7. Active Stop-and-Go Assist – First introduced in the MY20 GLE, the Active Stop-and-Go Assist driver assistance system enables the vehicle to recognize traffic jams at an early stage, actively supporting the driver in stop-and-go traffic up to approximately 37 mph. 
  8. Cross-Traffic Function – If there is a danger of a collision with oncoming traffic when making a turn, the vehicle can brake at the speeds typical of such manoeuvres. Braking intervention takes place if the driver signals the intention to turn (with the turn signals) and the vehicle can brake to a stop before crossing the lane marking. 
  9. Exit Warning Function – For MY20, vehicles equipped with Blind Spot Assist include an added Vehicle Exit Warning function, which can lower the risk of a collision with other road users after the vehicle is parked, such as passing cyclists. Vehicle Exit Warning monitors the blind spot when the vehicle is at a standstill or parked, and can warn the driver of approaching vehicles, motorcycles or bicycles when opening the door. This function is even active for up to three minutes after switching off the engine. The warning appears in the exterior mirrors and is audibly signalled via the instrument cluster. 
  10. ENERGIZING COACH – This new feature within ENERGIZING COMFORT acts as a guide for users. Based on an intelligent algorithm, ENERGIZING COACH recommends a specific program depending on the situation and individual. If a compatible Garmin® wearable is worn, personal values such as stress level or quality of sleep optimize the accuracy of the recommendation. The aim is for passengers to feel refreshed and relaxed even during demanding or monotonous journeys.

Excitement As Konga Travels Rolls Out Mouth Watering Flight Deals For Konga Yakata

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Excitement As Konga Travels Rolls Out Mouth Watering Flight Deals For Konga Yakata

Air travellers are in for a great time as Nigeria’s foremost travel booking agency, Konga Travels and Tours has put together a mouthwatering offer for travellers looking for great deals for the festive season. Specifically, the deals are part of the ongoing Black Friday sales of the e-commerce giant tagged Konga Yakata.

Top on the list of the special unbeatable offerings lined up for travellers is best-priced flight deals to New York at N295,436 and Atlanta USA for N361,488 in partnership with Turkish Airlines, among a host of other international destinations.

Eric Nana, Business Manager for Konga Travels and Tours affirmed that the exclusive deals will go live on Friday, November 29th. Further, he disclosed that the deals are limited and as a result, will be available on a first-come, first-served basis.

‘Interested travellers can visit www.travel.konga.com or walk into any Konga Retail store nationwide to take advantage of these unbeatable offers.  In addition to the special flight deals to New York and Atlanta, there are also best-priced offers to Dubai and other exotic destinations.

‘The special deals go live on Friday, November 29th 2019 as part of the on-going Konga Yakata sales. However, they are limited, so bookings will be treated on a first-come, first-served basis. Interested persons must book and make payments either at their preferred Konga retail stores or online to have their bookings confirmed,’ he disclosed.

Further speaking on what sets Konga Travels and Tours apart, Nana noted that the company has re-defined the scope of the travel booking industry since it launched a little over a year ago.

‘Since inception, Konga Travels has distinguished itself. Within a short space of our existence, we have grown nearly 25% on a month-on-month basis, acquired all the requisite and major travel certifications and rolled out multiple physical store locations nationwide.

‘With Konga Travels, you are assured of the highest level of service delivery, trust and safety as well as convenience. We are the only travel booking agency in Nigeria and beyond that offers travellers an omnichannel experience. You can either walk into any of our store to book and confirm your flight or decide to do it online. Indeed, our retail stores, in addition to our online service, are aimed to reduce challenges experienced by travellers and add a human face to the flight booking business.

‘You can only access such a wonderful service on Konga Travels, which is integrated with our payment option, KongaPay and our logistics firm, Express. No other competitor can match our service delivery because of our combination of technology, human capital and nationwide physical reach.  But we have found out that having such a seamless integration is the best way to satisfy our growing customers. No one has ever used our services with regret,” Nana informed.

‘Our customers are on a journey of discovery as we are coming up with so many more initiatives within the New Year which will excite the industry,’ he concluded.

Only Technology Will Change The Nigeria Story – Zinox Boss, Ekeh

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Only Technology Will Change The Nigeria Story – Zinox Boss, Ekeh

Chairman, Zinox Group, Leo Stan Ekeh, has boldly declared that technology will disrupt several spheres of the Nigerian economy in the next 10 years, claiming that no one has the capacity to stop the coming wave of positive technological disruption. Consequently, he has urged Nigerians and mostly the youths to take advantage of this positive digital disruption and add impetus to the brand Nigeria on the global map.

‘It is now between our competence, our commitment and God to lead other nations of the world. This is a century of quality wealth driven with knowledge and conscience and powered by technology. We have no reason not to scale with over 200m ambitious people from birth,’ he declared.

Ekeh gave this charge in a world-class tech speech delivered at the 2019 Annual Lecture Series of foremost advisory and corporate commercial entity, Alliance Law Firm.

The classy event with the theme – Leveraging Technology to develop and rebrand Nigeria – was held at the prestigious Four Points by Sheraton, Victoria Island, Lagos on Tuesday, November 26th 2019.

In attendance was Chairman of MTN Nigeria, Dr Ernest Ndukwe who chaired the occasion. Also in attendance was a foremost blogger and media entrepreneur, Linda Ikeji; MD/CEO, Ecobank Nigeria, Patrick Akinwutan; former DG/CEO, NOTAP, Engr. Umar Bindir; GMD, Mojec International Holdings, Chantelle Abdul; Deputy CEO, Payment Tokens, Interswitch, Mike Ogbalu, and many CEOs and Senior Managementexecutives from the financial, shipping, technology, legal, entertainment and educational sector, to mention a few.

Ekeh, arguably Africa’s most renowned technology guru, was the Lead Speaker. He described the event as one of the best ever organised in Nigeria in recent times because of the quality and content of the event.

Continuing Ekeh said, already every sector of our economy is experiencing the impact of technology, be it the electoral system, health care delivery, agriculture, banking, transport, education, hospitality, governance, entertainment, housing and including the way businesses are run in Nigeria.

‘Today, Nigeria is moving closer to e-voting. Also, you will observe that post-election litigations have dropped considerably. In fact, we are down by about 41 per cent today. Once we migrate to e-voting fully, anyone who loses an election will have no need to go and contest it in court. This is the power of technology. Technology does not lie. This is why I chose to go into it as a profession, he disclosed.

The serial digital entrepreneur, who spoke extempore, drew extensively from his personal experiences in a speech which attracted a standing ovation. He argued that rebranding Nigeria must begin with critical investments in the nation’s human capital. Ekeh urged Nigeria to borrow a leaf from a country like India which presently accounts for some of the leading brains driving the world’s major tech conglomerates.

‘When I studied for my first degree in India many years ago, I had written a paper titled – India: An economy waiting to happen. I have been proved right today. Although the country experienced serious economic hardship, it did not prevent them from investing in education. You will find that the average Indian holds a PhD in about three different disciplines and maybe a Master’s degree in four disciplines. So, when you employ him, you are getting maybe a Medical Doctor who is sound in Engineering, Agric-Economics, Business Management and more.

‘While they were incubating, they kept on upgrading their citizen’s knowledge base by reducing school fees affordable even to the poorest citizens, waiting for an opportunity. When the ICT opportunity emerged, they took it. If the Indian President recalls all Indian nationals today for a two-week break, the entire world will feel the pain. Indians are at the helms of affairs of the world’s most valuable companies including Microsoft, Google, Apple and many others today.’

Ekeh, himself a global advisor to Microsoft, went on to encourage the audience not to lose faith in Nigeria. He affirmed that things are changing for good.

‘Today, we have a Ministry of Communication and Digital Economy,’ he noted.

Further, he counselled the Federal and state governments to take that decision now to invest about $10bn to provide quality digital infrastructure in Nigerian schools at all levels and finance school fees for indigent students nationwide.

‘When I encounter people who say things are worse today, I just laugh. You must remain positive. Entrepreneurs are known to be positive people. I am an example of the Nigerian miracle but I disciplined myself from day one as someone born in a trust economy. When I returned to this country over 30 years ago, I was worth less than $10,000. Within three months of returning to Nigeria, I was privileged to have met people like General Theophilus Danjuma, the Awolowo family and others who patronised me and in the first six months, I hit over $4.5m balance sheet size.

‘I wouldn’t have achieved this if I had decided to remain in the UK, as I was being advised then by those who saw no future for Nigeria in technology. It is important to note that though my customers did not really understand what they were buying, I did not betray them. This century is a century of trust and those that can not be trusted have no financial capacity to scale.

‘Things are even better today. The current generation of kids is knowledge-driven and technology-powered. They will delete many of the so-called billionaires in Nigeria today within the next few years. That is the era we are currently in.

‘A very good example of this is Konga which is run by my son and his colleagues. A few months after we acquired Konga, Naspers – the previous owners – which invested $32m in TenCent sold off two per cent of its stake for $9.8bn. Today, Naspers’ remaining 28 per cent stake in Tencent is worth $133bn. If the whizkids at Konga choose to put Konga up for sale today, we have an idea how much it will attract. Nigeria with our growing quality population is headed for greatness,’ he submitted.

Ekeh, who disclosed that Nigeria’s wealthy class must re-distribute their wealth or stand the risk of using it to destroy their children, also called for the empowerment of indigent children. According to him, children of poor parents are imbued with a mindset of disruption and greater discipline and fear of God, even as he affirmed that these are the ones that will place Nigeria on the map of globally recognised nations in the very near future.

‘We can not continue to manipulate them for too long,’ he concluded.

The event also witnessed the launch of the Doing Business in Nigeria manual.

Chief Host of the event and Managing Partner, Alliance Law Firm, Uche Val Obi (SAN) affirmed that the publication drew on the firm’s vast advisory experience and their status as notable contributors in the IMF/World Bank Doing Business publications.

Capital Importation In Q3-19: In The Shadow Of Q1- 19

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Capital Importation In Q3-19: In The Shadow Of Q1- 19

Recently, the National Bureau of Statistics (NBS) published Nigeria’s Capital Importation report for Q3-19. Accordingly, we observed that on a q/q basis, the total capital imported dipped for the second consecutive quarter, down 7.8% to $5.4bn in Q3-19, lagging $8.5bn and $5.8bn inflows recorded in Q1-19 and Q2-19 respectively. A deeper dive into the numbers showed FDI inflows declined 10.2% q/q to $0.2bn while FPI inflows which accounted for over 50.0% of total capital imported, fell sharply by 30.1% q/q to $3.0bn.

Meanwhile, the other investments category rose by 66.2% q/q to c. $2.2bn, thanks to a 99.2% rise in inflows from loans. Notably, the bulk of the FPI inflows remained dominated in money market instruments (85.0% of FPI inflows) while the much needed FDIs stayed underwhelming – contributing a paltry 3.7% to gross inflows. We note that the lack of critical infrastructures, such as electricity and a good road network, was the reason for the continued poor FDI performance. However, we attribute the decline in FPI inflows to the lack of frequent OMO sales in Q3-19 and Q2-19 respectively.

Looking ahead, with bold reforms necessary to create an enabling environment still at large, we expect to FDIs to continue to remain on the sidelines. On the other hand, if the trends observed so far is anything to go by, we do not see inflows to money market returning to its Q1-19 high.

United Capital Research

British American Tobacco – 2019 Second Half Pre-Close Trading Update

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British American Tobacco – 2019 Second Half Pre-Close Trading Update

On track for a strong year

Trading update – ahead of the closed period commencing 1st January 2020

The business continues to perform well and we expect:

  •  A strong financial performance on an adjusted basis
  •  A good performance from Combustibles, with strong price mix and share gains
  •  Strong results in the US
  •  Growing share and good revenue growth in New Categories in the second half (H2)
  •  FY New Category constant currency revenue growth at the lower end of our range of 30-50%, reflecting the recent slowdown in the US vapour market
  •  De-leveraging in line with our guidance

Jack Bowles, Chief Executive:

“We expect to deliver a strong performance in 2019, building on the good progress we made in the first half. Our focus on our global strategic brands is delivering share gains and strong price mix in combustibles, both globally and in the US. Increased investment and new product launches are delivering good New Category revenue growth in H2, despite the recent slowdown in the US vapour market. We believe that the issues around vaping in the US should lead to a better and stronger regulatory environment in which we are well placed to succeed. In summary, we are delivering on our priorities. We are driving value growth in combustibles, we are investing to deliver a step-change in New Categories and we are transforming the business to create a stronger, simpler, more agile BAT. We are on track for a strong year.”

The business continues to perform well and we expect:

A strong financial performance on an adjusted basis

  •  FY constant currency adjusted revenue growth in the upper half of our 3-5% long term guidance range
  •  FY adjusted operating margin improvement of 50-100bps while delivering substantial additional investment behind New Categories
  •  FY constant currency adjusted operating profit growth in the upper half of our 5-7% long-term guidance range
  •  FY high single figure constant currency adjusted diluted EPS growth, with a currency translation tailwind of around 1.2%, and a headwind of around 2%  for 2020

A good performance from Combustibles, with strong price mix and share gains

  •  No change to expectations for global industry volumes, down around 3.5% for the FY
  •  BAT FY volumes to be broadly in line with the industry, after adjusting for the continued impact of Egypt and Venezuela and a 60bps impact from a one-off stock reduction in Russia
  •  Corporate value share up 20bps YTD, driven by the Strategic Brands, up 55bps YTD
  •  Corporate volume share up over 10bps YTD, with Strategic Brands up 60bps YTD
  •  FY combustible price mix in excess of 7%

Strong results in the US

  •  Strong constant currency revenue growth in line with the 3-5% Group guidance range, supported by good pricing and reduced discounting
  •  No change to 2019 expectations for FY US industry volumes, down around 5.5%. Expect between 4-6% in 2020
  •  Continued strong value share performance, with corporate value share up 30bps YTD, and premium share up 50bps YTD, driven by Natural American Spirit and Newport
  •  Strategic brands volume share up 20bps YTD; corporate volume share flat YTD
  •  Traditional Oral tobacco to deliver good constant currency revenue growth driven by pricing and share growth in moist snuff, up 90bps YTD

Growing share and good revenue growth in New Categories in H2

  •  In vapour, Vuse is growing value share in the US, with Vuse Alto value share up 840bps to 11.1% in October, with total Vuse family value share at 17.5%. Vype continues to grow value share, reaching 11.8% in the UK, up 260bps, and 19.2% in France, up 790bps in October, with ePod successfully launched in both markets. In Canada, Vype is the fastest growing brand, reaching a value share of 27.6%, up 570 basis points since July
  •  In THP, glo in Japan is holding volume share at 4.9% YTD in a competitive market. glo Pro and glo Nano launched successfully, with distribution building; glo Sens rollout began this month. Total nicotine corporate volume share in Japan is up 210bps to 18.4% YTD. Elsewhere, glo is now above 1% volume share in key cities in Eastern Europe, including Moscow
  •  In Modern Oral, Velo’s rollout in the US has now expanded to 75k outlets and reaching a modern oral category volume share of 9.2%. LYFT/EPOK continue to grow, consolidating their leadership of the modern oral category outside the US
  •  FY New Category constant currency revenue growth at the lower end of our range of 30-50%, reflecting the slowdown in the US vapour market
  •  New Category constant currency revenue growth, excluding US vapour, to be around the middle of the range

De-leveraging in line with our guidance

  •  Adjusted Net debt**/adjusted EBITDA*** reducing by approximately 0.4x excluding the impact of FX
  •  FY free cash flow after dividends on track for £1.5bn
  •  Medium-term rating target remains BBB+/Baa1, with a current rating of BBB+/Baa2****

The person responsible for making this announcement is Paul McCrory, BAT’s Company Secretary.

A quarter of a century “Made in India”: Mercedes-Benz celebrates 25 years production in India

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A quarter of a century “Made in India”: Mercedes-Benz celebrates 25 years production in India

As the country’s largest luxury car manufacturer, Mercedes-Benz looks back on a 25-year long history in India with a local assembly site and its local entity Mercedes-Benz India. In 1994, Mercedes-Benz Cars started assembling cars locally. Back then, the production site was located in the Tata Motors (Telco) premises. In 2009, Mercedes-Benz India inaugurated a new manufacturing plant spread over 100 acres in Chakan, Pune. The plant, where Mercedes-Benz Cars “Made in India” are assembled today, is also celebrating its ten year anniversary in 2019. The local assembly in Pune sets assembly standards in flexibility: nine different models are built under one roof. The Mercedes-Benz portfolio manufactured in Pune includes the sedan of the C-Class, E-Class, S-Class and CLA Coupé as well as Maybach S-Class and the SUVs GLA, GLC, GLE and GLS. The plant is equipped with Virtual Reality technology and other state-of-the-art digital manufacturing technologies which will be roll-out to other assembly plants worldwide. “25 years –that’s how long we have been assembling locally in India. To produce, where our customers are located, distinguishes our Mercedes-Benz Cars global production network: A maximum of flexibility, state-of-the-art digital technology and passionate people. As the country’s largest luxury carmaker, both anniversaries celebrated this year are significant landmarks for us, the region of Pune and an important sign for the local luxury car market in India”, states Jörg Burzer, Member of the Board of Management of Mercedes-Benz AG, Production and Supply Chain Management.

Stuttgart/Pune. 25 years of “Made in India”: This year marks two major milestones for the local success story of Mercedes-Benz Cars assembly in India. As a pioneer of the luxury regional car market, twenty-five years ago, the local production of Mercedes-Benz Cars started and the business unit Mercedes-Benz India was founded in the same year. The second celebration taking place in 2019 is the ten year anniversary of the independent Mercedes-Benz plant in Pune. “25 years –that’s how long we have been assembling locally in India. To produce, where our customers are located, distinguishes our Mercedes-Benz Cars global production network: A maximum of flexibility, state-of-the-art digital technology and passionate people. As the country’s largest luxury carmaker, both anniversaries celebrated this year are significant landmarks for us, the region of Pune and an important sign for the local luxury car market in India”, states Jörg Burzer, Member of the Board of Management of Mercedes-Benz AG, Production and Supply Chain Management.

Since the local assembly of Mercedes-Benz Cars was set-up in Chakan, Pune and Mercedes-Benz India were established, many milestones have been reached and premiers for the assembly have taken place: One major step was realized ten years ago when Mercedes-Benz Cars opened its first independent plant in Chakan-Pune. Spread over 100 acres, 730 people work at the plant where ‘Made in India’ Mercedes-Benz passenger cars are built today. The plant plays an important role in the global production network of Mercedes-Benz Cars, its local assembly sets standards in many aspects: The plant incorporates state-of-the-art digital technologies, works highly flexible and efficient and has a people-focussed manufacturing process. Moreover, the plant has a high competence for the local Indian market: As the country’s largest luxury carmaker, from January to September 2019 Mercedes-Benz India maintained its market leadership in the luxury car market in India. “From its humble beginning 25 years back to its current position of strength of being a leading local assembly plant in the global production network, Mercedes-Benz India has successfully established the prowess of local manufacturing in India. Our state-of-art manufacturing facility is the backbone of our growth story in India and serves a very important role within the network, especially for setting up a new local assembly facility or ramp-up of series production across geographies. With the advent of new technologies and digitization in the automobile industry in India, Mercedes-Benz has already been pioneering digitization in vehicle manufacturing and is well poised to become future-ready by rapidly adapting such future trends,” commented Piyush Arora, Executive Director, Operations, Mercedes-Benz India.

Ein Vierteljahrhundert “Made in India”: Mercedes-Benz feiert 25 Jahre Produktion in Indien
A quarter of a century “Made in India”: Mercedes-B enz celebrates 25 years production in India

Manufacturing made in India

Today the local assembly in Pune manufactures a large variety of vehicles and sets standards in flexibility. All models built in India are assembled under one roof and the production facilities comprise the largest capacity for any luxury car maker in India today. The nine models assembled in the plant are produced on flexible lines, which implies that different kind of models is running off one production line. The Mercedes-Benz portfolio produced in Pune comprises a wide range of models: the sedan of the C-Class, E-Class, S-Class and CLA Coupé as well as Maybach S-Class and the SUVs GLA, GLC, GLE and GLS. The Indian plant and workers are also known for their know-how and flexible engagement at other global manufacturing plants. Support in the ramp-up of series production and trainer teams are offered and provided to other local assemblies. With this contribution to the global teamwork of Mercedes-Benz Cars production, the plant in India serves a very important function, especially when a new local assembly facility or lines are set up.

Within the Mercedes-Benz production network, the plant is leading the implementation of digital technologies. Comprehensive applications featuring digital dashboards are being used: digital dashboards are implemented for management reviews and a growing number of them are installed on the manufacturing floor, on its way to a paperless factory. Together with the Mercedes-Benz quality management assurance system Quality Live and other digital tools, it will be integrated into the future digital platform MO360. MO360 will be rolled out globally until 2020. MO stands for Mercedes-Benz Operations and 360 describes the overall connectivity in the overall production network. This ensures quality and efficiency, securing the high Mercedes-Benz standards. Since digitalization is a major topic within the factory, Augmented and Virtual Reality is gradually implemented. For example, the plant in India had been one of the first local assemblies of Mercedes-Benz to implement Virtual Reality technology, starting with body shop training. Since the implementation of Virtual Reality into the training process has been a huge success within the Indian plant, it will be implemented in other local Mercedes-Benz assemblies around the world.

Ein Vierteljahrhundert “Made in India”: Mercedes-Benz feiert 25 Jahre Produktion in Indien
A quarter of a century “Made in India”: Mercedes-Benz celebrates 25 years production in India

The success story is only possible with the well-educated and highly engaged workforce. Through a great number of training opportunities in many different areas, like digitalization and advanced training for new model series, the employees at the Pune plant are constantly being qualified further. This includes for example classes in different foreign languages and international training programs. “Completion of 25 years for Mercedes-Benz is a significant milestone and is a tribute to our customers who have been appreciating our products and services and the unparalleled luxury brand experience associated with Mercedes-Benz. This success is also a result of the relentless contribution of passionate people behind the brand, which includes our employees, dealer partners, their teams and our suppliers. We have one of the best teams working for the Three-Pointed Star who are highly involved and eager to create a new benchmark in their areas of work” says Martin Schwenk, Managing Director & CEO of Mercedes-Benz India.

About Mercedes-Benz Cars Operations

Mercedes-Benz Cars Operations (MO) is responsible for passenger car production in over 30 locations worldwide. Two of them are currently being established. Within a flexible and efficient production network with around 78,000 employees, it includes the central functions of production planning, technology factory, logistics and quality management. The network is structured around the product architectures front-wheel drive (compact cars) and rear-wheel drive (e.g. sedan of S-Class, E-Class and C-Class), as well as the SUV and sports car architectures. There is also a production network for the powertrain (engines, transmissions, axles, components). At the centre of each architecture production network is a lead plant that serves as a centre of competence for new product start-ups, technology and quality assurance. Mercedes-Benz Cars are ready for electromobility: Electro-hubs are currently being established around the globe for the production of electric cars and batteries. The focus of the day-to-day work is on the continuous improvement and advancement of modern production processes that make efficient, flexible and environment-friendly production of future hi-tech vehicles with Mercedes-Benz quality possible. The focus is on the employees with their expertise and on supporting their work through specific ergonomic design of the workplace and intelligent automation. In addition to their own production plants, Mercedes-Benz increasingly relies on cooperative ventures as part of the growth trajectory.

Ein Vierteljahrhundert “Made in India”: Mercedes-Benz feiert 25 Jahre Produktion in Indien
A quarter of a century “Made in India”: Mercedes-Benz celebrates 25 years production in India

About MB India

Established in 1994, Mercedes-Benz India which celebrates its 25th anniversary in India, pioneered the luxury car market in the country and boasts of more than 130 years of cutting-edge innovation in the luxury automobile industry globally. Set up in 2009, Mercedes-Benz India’s world-class production facility is spread over 100 acres in Chakan near Pune and employees more than 730 people. Since June 2015, Mercedes-Benz India also commenced production from its new expanded production facility located in the same premise. Mercedes-Benz India is part of Mercedes Benz’s Global Production Network. Mercedes-Benz India product portfolio comprises the locally produced sedan of Mercedes-Maybach S 560, S-Class, E-Class Long Wheelbase, C-Class as well as the CLA coupé and the GLA, GLE and the GLS luxury SUVs. The GLC was the ninth product added to Mercedes-Benz’s local production portfolio.

US Indictment: Why Nigerians are Standing By Onyema

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US Indictment: Why Nigerians are Standing By Onyema

Spontaneous reactions have greeted news of the indictment of Chief Allen Onyema, Chairman/CEO, Air Peace by U.S. Attorney Byung J. “BJay” Pak of Atlanta, Georgia. Nigerians from all walks of life, including politicians, eminent citizens and the man in the streets, have been speaking on the issue in a manner tough to ignore, with most of the comments lending support to the reputable businessman.

While those in the know are speaking intelligently on the matter, with one person already offering Chief Onyema free legal services in the United States, many socio-cultural groups in lending their voices have called on the Federal Government of Nigeria to activate citizen diplomacy.

Fired by patriotic zeal, even those who caution against speaking on a sensitive issue before the court of law in the USA, agree that the nature of the matter and enormous influence of the character involved demand that the issue be handled carefully so as not to hurt Nigeria’s national economy and further endanger the aviation sector that many perceive to be already endangered in Nigeria.

For Nigeria’s former minister of aviation, Femi Fani-Kayode, “an indictment is not a conviction. An allegation remains a mere allegation until it is proven in a court of law.”
In the same vein, an international forensic accountant, Prof Emmanuel Emenyonu, issued a statement calling for caution, warning the public not to be swayed by yet to proven allegations. He expressed surprise that huge outbursts have greeted the breaking of the news.

According to him, “surprisingly, huge outbursts have greeted the money laundering allegations against Allen Onyema, Chairman, Air Peace, which is steeped in verbosity and decorated in the garbs of flowery hollowness.”

The two prominent Nigerians, like many others in the know, agree that the burden of proof lies on the prosecution. Not one to hide behind the finger, Fani-Kayode states his position clearly in his verified Twitter handle (@realffk), “Allen Onyema is not a rogue or a fraudster. He is a profoundly good man and a patriot. I have no doubt that he will weather this storm and that he will be vindicated.”

Prof Emenyonu counselled that while the public should abstain from hasty conclusions for or against, his “accusers should concentrate on convincing the court of law on the veracity of their allegations instead of a mere smear campaign against an illustrious Nigerian.”

His lawyers, Alegeh & Co, Legal Practitioners and Notaries Public, have publicly expressed a readiness to defend their client in the court while maintaining his innocence. In a statement to the media on the issue, signed by A O Alegeh, the law firm averred, “we hereby state that he (Onyema) strongly denies and will vigorously defend himself against the allegations made against him by the US Attorney in Atlanta, Georgia.”

It also seems that Onyema’s good reputation in his home country, Nigeria is driving solidarity beyond words with a frontline politician, an international legal practitioner based in the United States of America, and the presidential candidate of Nigeria for Democracy (NDC) at the 2019 presidential polls, Dr Asukwo Mende Archibong, Esq, publicly offering free legal services to Onyema to help prove his innocence. Dr Archibong, a practising Unites States attorney, admitted into several Federal Courts, is the managing partner in the law firm, Archibong Law Firm, Washington DC/Maryland.

In a statement to the online newspaper, newsexpressngr.com, Dr Archibong was quoted as saying: “Being a practising United States Attorney, … I will offer my services to him without any pecuniary gain to myself and pro bono so as to defend him in this matter.”
Succinctly capturing why Nigerians are standing by Onyema, Dr Archibong highlighted, that “This is a man that we, as a nation, cannot afford to abandon in the hands of a United States of America Federal Court. At this point, no matter what anyone believes, he is presumed to be innocent.”

Recounting some of Onyema good deeds to buttress what endeared him to the Nigerian populace, Dr Archibong said, “Earlier this year, Chief Allen Onyema sacrificed a lot, in terms of personal and business resources, in order to rescue and bring back stranded Nigerians from South Africa during the height of the murderous xenophobic attacks against Nigerians.”

Calling on the government to wade in for the sake of national interest, he pointed out “Consequently, I strongly urge the Nigerian Embassy in Washington DC, and the Ambassador of Nigeria to the United States to take a personal interest in this matter and to assist Chief Onyema in everywhere legally possible.”

Similarly, talking about possibilities of resolving the matter, clearing and preserving the hard-earned reputation of Onyema, an Igbo think tank, Nzuko Umunna called on the Federal Government of Nigeria to activate citizen diplomacy to stop the matter from degenerating to the level of impacting negatively on the national economy, given that the allegations against Onyema hold strong implications for a sensitive segment of the economy.

The Nzuko Umunna in a statement published by Daily Sun, strongly advised against the throwing of another Nigerian citizen under the bus. Rather, “the Federal Government should activate its much-touted citizen diplomacy, a model that has been elevated to a fine art by the United States of America, itself.”

So, the aggregate of voices on this matter, irrespective class, political leaning, ethnicity and religion shows that Onyema as the proverbial child that fetched his firewood during the dry season and is now using the wood to warm himself during the raining season. For Nigerians, who are normally critical in similar circumstances, it’s not just a case of one good turn deserving another, it’s a matter of preserving what is useful to you, for the days of need.

“Women Are An Excellent Investment”: Finance Leaders Call For Increased Support For In Women In Business

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“Women Are An Excellent Investment”: Finance Leaders Call For Increased Support For In Women In Business

Leaders from multilateral development banks, financial institutions and the private sector called on peers to dispel myths about women being too “high risk” for financing – and to offer more financial services for women in business to close the gender finance gap.

“We know that women are a good bet. We know the payback. We know they run excellent businesses – and yet they are not getting financed,” said Dr Jennifer Blanke, African Development Bank Vice President for Agriculture, Human and Social Development.

An important step is for multilateral development banks to offer credit guarantees to commercial banks to invest in women entrepreneurs, Blanke said.

“We know that if we provide those guarantees, then the banks are going to be lending to a lot more women, and they are going to discover that women are an excellent bet – and are an excellent investment.”

Blanke and other leaders were speaking at the “Using Innovative Financing Mechanisms to Accelerate Finance for Women in Business” plenary panel session at the Global Gender Summit on Tuesday.

The international gathering of gender champions from government, finance institutions, multilateral development banks, civil society and private industry, runs from 25 – 27 November in Kigali, Rwanda.

Panellists acknowledged that strides have been taken to bring gender equity to financing. However, according to World Economic Forum data, at current rates of progress, it will take at least 200 years to close the global pay gap between men and women.

Asian Development Bank’s Gender Lead, Sakiko Tanaka, noted this 2019 Global Gender Summit has seen increased awareness of the need for women’s financial inclusion to achieve gender equality.

“There’s more money coming in for gender equality. However, there are still major gaps globally and as well as in each region,” said Tanaka, who also serves as chairperson of the multilateral development bank working group on gender.

Women face unique constraints such as poorer access to collateral and land, running smaller business compared to male entrepreneurs and blurred lines between women’s personal and professional finance spend.

Wendy Teleki, Head of the We-Fi (Women Entrepreneurs Finance Initiative) Secretariat and the panel moderator, led the six panellists in exploring how financial institutions and multilateral development banks are innovating to expand women’s access to finance. Aside from risk-sharing interventions like credit guarantees to lenders, panellists said increasing women’s financial literacy was also key to closing the gender gap.

“It’s not about corporate social responsibility or charity,” said panellist Barbara Rambousek, Director for Gender and Economic Inclusion at the European Bank for Reconstruction and Development. “It is about developing that business case and developing a proper set of financial and non-financial services.”

In Africa, 70% of women are excluded financially and there is a $42 billion financing gap between men and women. Yet panellist Solomon Lartey, Managing Director and CEO of Activa International Insurance Ghana sees an opportunity, particularly in West Africa, home to what he says is the world’s highest rate of women entrepreneurs.

“To get women where they want to be, we had to walk with them. The first thing is training them [about financial services], then granting them access to legal assistance and to financial education – we have to do all those things,” Lartey said.

The panel also discussed innovations related to financial technology, alternative credit information, and online tools for financial services as a way to grow businesses.

In some developing regions of the world, women face challenges getting basic documents like a birth certificate, required by commercial bank applications.

Tesi Rusagara, the head of Kigali Innovation City, said the more services for documentation and financing tools are brought online, the more value will be created for women.

John Wilson, CEO of Equity Bank, added that it is important to not only use data and technology in financial services but to also have a physical presence where clients are, to make a human connection.

Pre-MPC Note: Caught Between Two Stools?

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Pre-MPC Note: Caught Between Two Stools?

The Nigerian Monetary Policy Committee (MPC) will conclude its final meeting for 2019 today (26/1 1/1 9). The MPC will consider, among other things, developments in the global and domestic economy to decide on the next monetary policy action to take in its bid to boost real sector credit growth and accelerate GDP growth or check rising inflationary
pressure in the local economy.

In our view, top on the list of issues that the MPC will struggle to resolve to include: Border closure and its impact on food prices as well as headline inflation rate; the impact of the CBN’s unconventional policy stance which restricts OMO sales to Banks and FPIs alone as well a s the 65% minimum LDR for Banks on market rates; the implication of negative real interest rate environment on investment; and the sustained diminution of the reserves in the face of q-o-q decline in capital importation.

Certainty, investors will be on the lookout for the outcome of the meeting to understand the direction of yields on T-bills which has from an average of 1 4.0 8% to 1 1.1 5% since the last MPC. Notably, market the expectation for the headline inflation rate is northwards while system liquidity is anticipated to surge in December. That said, the MPC will be
caught between a decision to HOLD or EASE policy stance. In our view, further easing could drive market rates lower and worsen capital outflow in the face of dwindling external reserves. As such, we think the MPC will most likely DO NOTHING, backing the CBN’s
recent unorthodox policy actions, despite inflationary pressure and dwindling reserves, while hoping that the border issue will be resolved soon.

United Capital Plc Research

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