October 2019 Annual Inflation Rate Rises to 11.61% as Food Inflation Jumps to 14.09% amid Border Closure…

Brand Spur
-
2
October 2019 Annual Inflation Rate Rises to 11.61% as Food Inflation Jumps to 14.09% amid Border Closure…

Freshly released October inflation report by the National Bureau of Statistics (NBS) showed that the headline inflation rate rose to 11.61% year-on-year (from 11.22% in September 2019), a slight reversal, and the highest in three months.

All Items Index

The consumer price index, (CPI) which measures inflation rose by 11.61 percent (year-on-year) in October 2019. This is 0.36 percentage points higher than the rate recorded in September 2019 (11.24 percent).

Increases were recorded in all COICOP divisions that yielded the Headline index.

On a month-on-month basis, the Headline index increased by 1.07 percent in October 2019, or 0.03 percentage points higher than the rate recorded in September 2019 (1.04 percent).

The percentage change in the average composite CPI for the twelve months period ending October 2019 over the average of the CPI for the previous twelve months period was 11.30 percent, showing 0.03 percentage point increase from 11.27 percent recorded in September 2019.

The urban inflation rate stood at 12.20 percent (year-on-year) in October 2019 from 11.78 percent recorded in September 2019, while the rural inflation rate was recorded at 11.07 percent in October 2019 from 10.77 percent in September 2019.

On a month-on-month basis, the urban index rose by 1.15 percent in October 2019, up by 0.02 percentage points from 1.13 percent recorded in September 2019, while the rural index rose by 0.99 percent in October 2019, up by 0.03 percentage points from the rate recorded in September 2019 (0.96 percent).

The corresponding twelve-month year-on-year average percentage change for the urban index was 11.68 percent in October 2019. This is higher than 11.63 percent reported in September 2019, while the corresponding rural inflation rate in October 2019 was 10.95 percent compared to 10.94 percent recorded in September 2019.

Food Index

On a year on year basis, the composite food index rose by 14.09 percent in October 2019 compared to 13.51 percent in September 2019.

This rise in the food index was caused by increases in prices of Meat, Oils and fats, Bread and cereals, Potatoes, yam and other tubers, Fish and Vegetables.

On a month-on-month basis, the food sub-index increased by 1.33 percent in October 2019, up by 0.03 percentage points from 1.30 percent recorded in September 2019.

The average annual rate of change of the Food sub-index for the twelve-month period ending October 2019 over the previous twelve-month average was 13.54 percent, equivalent to 0.07  percentage points higher than the average annual rate of change recorded in September 2019 (13.47 percent).

All Items Less Farm Produce

The “All items less farm produce” or Core inflation rate, which excludes the prices of volatile agricultural produce stood at 8.88  percent in October 2019 on a year-on-year basis, slower by -0.07 percentage points when compared with 8.94 percent recorded in September 2019.

On a month-on-month basis, the core sub-index increased by 0.74 percent in October 2019, or -0.15 percentage points slower than the rate recorded in September 2019 (0.89 percent).

The highest increases were recorded in prices of Cleaning, Repair and hire of clothing, Hospital services, Major household appliances, Repair of household appliance, Glassware, tableware and household utensils, and Garments.

The average 12-month annual rate of change of the index was 9.25 percent for the twelve-month period ending October 2019; this is -0.08 percentage points lower than 9.34 percent recorded in September 2019. 

State Profiles

In analysing price movements under this section, note that the CPI is weighted by consumption expenditure patterns which differ across states. Accordingly, the weight assigned to a particular food or non-food item may differ from state to state making direct interstate comparisons of consumption baskets potentially misleading and inadvisable.

All Items Inflation

In October 2019, all items inflation rate, on year on year basis was highest in Kebbi (15.20%), Bauchi (13.97%) and Ondo (13.74%), while Kwara (9.69%), Katsina (9.29%) and Bayelsa (9.07%) recorded the slowest rise in headline year on year inflation rate.

On month on month basis however, October 2019 All items inflation rate was highest in Benue (2.20%), Bauchi (1.87%) and Cross River (1.80%). Anambra recorded the slowest rise at 0.28%, while Bayelsa and Ebonyi saw a decline in the headline month on month index by -0.13% and -0.35% respectively.

Food Inflation

In October 2019, food inflation rate on a year on year basis was highest in Kebbi (17.53%), Ondo (17.01%) and Ogun (17.00%), while Kogi (12.12%), Katsina (11.18%) and Bayelsa (9.55%) recorded the slowest rise.

On month on month basis, however, October 2019 food inflation rate was highest in Oyo (2.56%), Osun (2.52%) and Lagos (2.05%) while Enugu (0.24%) and Abuja (0.14%) saw the slowest increases in a month on month food inflation rate. Bayelsa, at -0.35%, recorded price deflation or negative inflation (that is, a decrease in the general price level of food or a negative food inflation rate).

Click here to download the Consumer Price Index October 2019 Report here…

Motorola brings back the Razr as $1,499 foldable smartphone

Brand Spur
-
0
Motorola brings back the Razr as $1,499 foldable smartphone

Motorola is rebooting the iconic Razr flip phone as a 6.2-inch smartphone with a foldable display that gives the Lenovo-owned brand a unique selling point against Apple’s and Samsung’s finest.

The new device reprises the Motorola Razr name and looks like a modernised version of the original. It costs $1,499 and will be available for pre-order in December in Europe and as a Verizon exclusive in the U.S., ahead of its retail arrival in January. For Lenovo Group, which has a tiny fraction of the global smartphone market, it’s an effort to build brand awareness in the U.S. via a halo device.

Launched in late 2004, the first Razr became a cultural icon in the U.S., sold 130 million units and was the face of the phone industry before Apple launched the iPhone in 2007. Motorola’s new model has a shot at some fame as well, as it’s set to become the first truly foldable smartphone on the market—every other device so far could more properly be described as a foldable tablet—and company executives say they are confident that their design won’t succumb to the durability issues that pushed back Samsung’s Galaxy Fold launch.

The 2019 Razr is no bargain, but compared to the $1,980 Galaxy Fold or Huawei Technologies’s $2,600 Mate X, it’s the most affordable member of the most expensive modern phone category. The compromise that users will have to accept with the Razr is in some of its specifications: It has a small battery at 2,510mAh and runs the older Android 9 Pie operating system on Qualcomm’s sub-flagship Snapdragon 710 chip. It lacks the 5G option and bountiful memory of its rivals. Aside from the U.S. and Europe, it’ll also be on sale in Latin America, Asia and Australia.

Motorola President Sergio Buniac says he doesn’t see the launch as a “silver bullet” for rocketing Motorola’s sales up to Apple and Samsung numbers. Over the past several quarters, Motorola has turned its mobile business from a flailing unit of China’s Lenovo to profitability in many markets, he said. The new Razr is intended to continue that even without strong sales. Buniac says he’s hoping for “a little bit more” demand than supply, while Lenovo Chief Operating Officer Gianfranco Lanci says “it will bring greater awareness to the brand, especially in key markets like North America.”

Motorola’s take on foldable phone design is markedly different from the first batch of foldable devices. Instead of a vertical hinge that makes it open like a book, the new Razr opens and closes like a classic flip phone. Closed shut, the phone is a square that’s about half the size of an iPhone 11 Pro Max, and Motorola has used the foldable technology to make one of the most portable phones on the market. In the process, it’s brought back the action of flipping the phone shut to hang up calls, which is something most premium smartphone consumers haven’t done in at least a decade.

Samsung is planning to introduce its own square-shaped foldable phone as its second Galaxy Fold device early next year. Until that time, Motorola looks set to be all alone in offering a regular smartphone capable of collapsing into a pocket-friendly clamshell.

“We wouldn’t be bringing the product to market if we didn’t think it was ready,” says Buniac, underlining Motorola’s belief in the reliability of its particular hinge and fold design. Samsung’s Galaxy Fold had issues with air bubbles popping up beneath the display and tiny particles getting trapped under the screen. Touting a so-called zero-gap design, Buniac says that “Our expectation is that we will have a reliable product, and as we launch you will see, but we are confident in what we achieved.”

In a brief hands-on test with the Razr, the handset looks and feels impressive. Its screen felt fragile, but the device’s design chief Ruben Castano says “We feel like we’ve really developed a robust solution,” pointing to stainless steel structural plates between the bottom of the inner screen and the device’s internals. He says that layer will help prevent particles like sand from going into the device’s electronics and breaking the display. There’s also a 2.7-inch exterior touchscreen for quick access to commonly used functions and checking notifications.

Similar to Samsung, Motorola will offer 24-hour turnaround replacements under a standard warranty for display failures, and it will charge $299 if the issue falls out of warranty in the U.S. The phone will be sold via Verizon Wireless as the exclusive launch carrier in the U.S. and will be available at Verizon and Walmart stores from January.

The Razr’s inner display has a high-resolution panel whose crease is more subtle than the one on the Galaxy Fold. When unfolded, the Razr operates like most other Android phones, running a full touchscreen version of Google’s operating system. The external screen is designed for light interactions like answering calls and texts, but as the front screen on the Galaxy Fold, it’s not something most consumers are likely to use much. The new Razr is a flip phone at heart and that’s how most people will want to use it.

Castano says that Motorola started working on a foldable design around 2015 and that its biggest challenge was being able to match the first Razr’s ability for the phone to be fully shut with no gap. Like the original Razr, the 2019 model has a chin at the bottom that houses electronics such as the LTE antenna. It also has a notch at the top of the main display, lacks a headphone jack and will be available only in black and with 128GB of storage without further upgrade options. Its camera and battery specs are underwhelming, though Motorola promises “all-day battery life” without quoting an exact number of hours.

Motorola’s other big task will be to prove itself at the super-premium end of the market that’s long been dominated by Samsung and Apple. Since the first Razr, the Motorola brand has worn many hats, having served as a middling iPhone counter with the Verizon Droid, and having gone through a $12.5 billion Google acquisition and eventually ending up in the hands of Lenovo. It now needs to rebuild its own brand identity.

But the Razr’s shortcomings may very well not matter. This device is designed to appeal to those nostalgic for the flip-phone era, for whom specs may not be a priority, as well as the early adopters of new technology, who are more tolerant of first-generation imperfections.

Alibaba sets Singles Day sales record of $38.4bn

Brand Spur
-
0
Alibaba sets Singles Day sales record of $38.4bn

Alibaba Group shattered its 2018 $30.8 billion Singles Day sales record, raking in $38.4 billion in sales across its platforms during the 2019 11.11 Global Shopping Festival. This reflects an increase of 26% compared to 2018 and is more than six times the amount of online sales made in the US on Black Friday last year.

The Chinese retail giant reports that in the first minute and eight seconds, gross merchandise volume (GMV) settled through Alipay reached $1.0 billion, and in the first hour, GMV settled through Alipay reached $12.0 billion.

The 11.11 shopping festival began in 2009 with participation from just 27 merchants as an event for merchants and consumers to “raise awareness about the value of online shopping”, according to Alibaba. More than 200,000 brands participated in this year’s event and 1 million new products launched on the day.

Almost 300 brands earned more than $14.3 million, and 15 of those brands surpassed $143.0 million in GMV. Top-selling brands included Apple, Bose, Estée Lauder, Gap, H&M, L’Oréal, Levi’s, MUJI, Nestlé, Nike, Philips, The North Face, Under Armour and Uniqlo.

The top five countries selling goods to China through Alibaba’s cross-border platforms were Japan, the United States, South Korea, Australia and Germany.

In the hours leading up to this year’s shopping event, Alibaba’s video streaming platform Youku hosted the fifth annual countdown gala, which included interactive performances from Taylor Swift and other international and domestic celebrities. Hosted at the Mercedes-Benz Arena in Shanghai, the gala was broadcast live across nearly 30 platforms and TV channels.

“Today we showed the world what the future of consumption looks like for brands and consumers,” said Fan Jiang, president of Taobao and Tmall. “We are meeting the growing demand of Chinese consumers and helping them upgrade their lifestyles while introducing new users to our digital economy from across China and around the world.”

Source: Bizcommunity

Seplat Announces Retirement of Mr. Austin Avuru as CEO; Appoints Mr. Roger Brown as Replacement

Brand Spur
-
0
Seplat Announces Retirement of Mr. Austin Avuru as CEO; Appoints Mr. Roger Brown as Replacement

Lagos and London, 18th November 2019 – Seplat Petroleum Development Company PLC (“SEPLAT”) has announced that her pioneer Managing Director and later CEO, Mr. Austin Avuru will be retiring in July 2020 after 10 years of leading the company.

In these 10 years, Mr. Avuru led the development of a strong organization, the
deployment of agile systems, processes and stakeholder relationships that allowed the
organization to grow rapidly from a gross production of 22,700boepd as at December
2010 to peaks of 111,368boepd gross production as at December 2018 through major
drilling campaigns and major new Oil and Gas plants development.

The acquisition of 45% of OML 53, post Company’s IPO of 2014, created an opportunity in
partnership with NNPC, to spawn a mid-stream subsidiary, ANOH Gas Processing Company
Ltd currently progressing what will ultimately be a 300MMscf/d of Gas, 22,500bdp of
condensate and 1,200boepd of LPG processing Company. All these could not have been
achieved without Mr. Avuru’s leadership skills, personal dedication and hard work, at the
head of the Company.

The Board of SEPLAT is grateful to Mr. Avuru for these accomplishments and is looking
forward to his continued service at the Board level.

Looking forward, Seplat plans to position itself for a next phase growth ambition which
would see the expansion of its footprint in terms of energy business activities, a plan to
pursue offshore assets as well as opportunity-driven entry into different geographies. The
The company believes that such a corporate transition would require a different kind of organizational structure, people skills set and mentality to compete well in the expanded
space. In view of this, Seplat will be reviewing its current organizational and systems
structure.

To lead the Company in her latest aspirations, the Board has selected Mr. Roger Brown as
the successor to Mr. Avuru as CEO, when Mr. Avuru steps down on 31 July 2020. The
Board also decided that the CEO designate will lead the restructuring during the Transition
period between now and final exit date of Mr. Avuru in 31 July 2020.

Mr. Brown joined SEPLAT in 2013 as the CFO and played a key role in the successful dual
listing of the Company in 2014. Similarly, since joining the Company, he has played
significant roles in various asset acquisitions by the Company.

Mr. Brown brings to the CEO role, a deep knowledge of the Company in his 6 years as the
CFO and a member of the Board. He has strong financial, commercial and M&A experience
as well as proven people skills which will be an asset as the Company embarks on the next
phase of its growth plan.

Prior to joining SEPLAT, Mr. Brown was an advisor to the Company since 2010 while he
was the Managing Director and head of EMEA Oil and Gas at Standard Bank Group. During his time at the bank, he was instrumental in providing advice and deploying capital across the African continent in the Oil & Gas, Power & Infrastructure and the renewable energy sectors.

While we thank Mr. Avuru for meritorious service, we welcome Mr. Brown and wish
him every success in his upcoming new role.

Tiamin Rice Mill injects US$13.4m to boost production capacity in Nigeria

Brand Spur
-
0
Tiamin Rice Mill injects US$13.4m to boost production capacity in Nigeria

Tiamin Rice Mill Limited has invested a total of US$13.37M to boost its production capacity from the current 320 tonnes to 1,520 tonnes per day in line with the Federal Government’s rice sufficiency policy.

The company was established in 2016 in Kano state and started production of rice in 2018 with 320 tonnes per day.

The Managing Director of the company, Aminu Ahmed, disclosed that the existing production line would be expanded to 920 tonnes next year as a newly established production line would start production of 600 tonnes per day in Bauchi state by May 2020.

“Already we have placed orders for all the machinery needed, and all arrangements are on top gear to meet the deadline we set,” Ahmed added

“In line with Kano State Government’s policy of allocating free land to genuine investors towards reviving the industrial glory of the state, Kano State governor has particularly allocated land to us for our expansion project.”

Ahmed explained that the policy of the current administration, especially the ban on smuggling and the intervention by the Central Bank of Nigeria had helped immensely in boosting local production of rice.

President of Nigeria, Muhammadu Buhari in August, ordered the closure of the land border with the Benin Republic and other neighbouring countries due to massive smuggling activities especially of rice that threatened the attainment of self-sufficiency in the production of agricultural commodities.

Defending the decision, the President said, “After many years of diplomacy and aggressive regulatory oversight which yielded few results, we decided to close our land borders for a limited time to assess the impact of this measure

‘’Within a few short weeks, we are already seeing a decline in the volumes of counterfeit smuggled goods in some of our major markets across the country.’’

This is collaborated by Comptroller-General of the Nigeria Customs Service, Hameed Ali who appeared before the Senate and House of Representatives joint committees on Finance and National Planning, working on the 2020 – 2022 Medium Term Expenditure Framework and Fiscal Strategy Paper stating,

“There was a day in September that we collected N9.2bn (US$25m) in one day. It had never happened before. This was after the closure of the border and since then, we have maintained an average of about N4.7bn (US$12m) to N5.8bn (US$15m) on a daily basis which is far more than we used to collect.”

Mr. Wale Adegbite, a former Chairman, Manufacturers Association of Nigeria (MAN), Ogun Chapter, said that the closure of Nigeria’s land border had enhanced sales of locally produced goods in the market.

He further stated that local companies now have a level playing field to compete with foreign goods imported into the country.

The Federal government is adamant to stick to the border closure until January 31, 2020.

Konga Will Break E-Commerce Biggest Day Sales Record Soon – Chris Uwaje

Brand Spur
-
0
Konga Will Break E-Commerce Biggest Day Sales Record Soon – Chris Uwaje

Africa Chair for IEEE-World Forum on Internet of Things (IoTs), Dr Chris Uwaje has boldly declared that foremost e-Commerce giant, Konga will beat the record for the biggest single day sales in the near future.  Uwaje, popularly addressed as the Oracle of the Nigerian Information Technology industry, made this disclosure in an interaction with the media recently.

The Co-founder and former President of the Institute of Software Practitioners of Nigeria (ISPON) was reacting to the figure of $38bn set by Chinese e-commerce giant, Alibaba for its 2019 Singles’ Day sales.

‘One day – very soon -, Konga will smash the e-commerce biggest day-sale record. If you follow the strides recorded by Konga within the past 18 months, you will agree with me that it’s only a matter of time before Alibaba’s Singles Day sales record is within reach,’ he enthused.

Equally important, Singles’ Day has grown steadily to become a global sales phenomenon.

Launched in 2009, Singles’ Day has become China’s version of U.S. online sale event Cyber Monday; which follows America’s Thanksgiving holiday. Furthermore, analysts monitor sales on Singles’ Day to gauge consumer sentiment in China. This year’s sale was closely followed across the world.

The Chinese shopping festival is held on Nov. 11 and is also referred to as Double Eleven because of the date – incidentally the same day on which Konga flagged off its annual Black Friday sales known as Konga Yakata.

Furthermore, Uwaje, a fellow of the Nigeria Computer Society (NCS), has credited the management of Konga for creating a thriving brand which all Nigerians should be proud of.

‘The management of the new Konga has created a massive brand out of Africa. Today, Konga Yakata, its version of the globally celebrated Black Friday sales, has become undoubtedly the sales event in the annual shopping calendar in Nigeria.

‘Also, Konga boasts arguably the best brains in technology in Nigeria, even more than any bank in the country. This is due to its cutting-edge team of engineering talent at its disposal.

‘The touching aspect of the Konga miracle is the fact that, if not for the intervention of the Zinox Group which stepped in to acquire the business from its erstwhile owners, Nigeria would have suffered huge brain drain. Although Naspers admittedly made the initial investment in Nigeria, Nigerians are now the beneficiaries of the massive revolution taking place in Konga.

‘Indeed, the Zinox Group’s intervention has not only saved Nigerian a massive loss of some of its best brains, but it has also created confidence in the company, although it spent millions of dollars in the acquisition and offset the debts. Today, Zinox has turned around the business and raised the Konga brand equity over 800% since the acquisition,’ Uwaje intoned.

Continuing, the IT veteran noted that the Konga business model and strategy have set it on the path of greatness.

‘It is not just about acquiring a business but what do you do with it? Presently, the Konga strategy is one that has made it too large to fail. The rollout of multiple warehousing facilities, expansion of its retail presence and launch of new, thriving subsidiaries such as Konga Travels which has grown over 200%, acquired all major airline certifications and opened up multiple new offices within a short space of time is proof of the experience and know-how the new owners have brought to bear on the business.

‘What is critical is that the new owners of Konga understand the country, Certainly, doing business in Nigeria comes with a lot of challenges. But Konga has deployed multiple warehouses nationwide as part of its efforts at resolving some of the logistical challenges faced by players in the sector – a factor that has helped it achieve same-day delivery which I have personally experienced even while in Delta State.

‘This shows that Nigerians have the capacity to do great things. However, we seem to give more credence to foreigners who are taking over the country. But no one is complaining. The question is, where will Nigerians work tomorrow? The man who opens a company decides who to employ and there is no bridge on the character of people that are brought into the country,’ he concluded.

Uwaje, a doyen of technology, commands a senior leadership position in the IT professional and industry domain with over four decades of on-the-job IT Practice as Computer Scientist across four continents, namely Europe, Africa, Asia and North America.

$1 Million Awarded To African Entrepreneurs In Grand Finale Of The Jack Ma Foundation Africa Netpreneur Prize Initiative

Brand Spur
-
0
$1 Million Awarded To African Entrepreneurs In Grand Finale Of The Jack Ma Foundation Africa Netpreneur Prize Initiative

Last night the Jack Ma Foundation hosted its first annual Africa Netpreneur Prize Initiative (ANPI) grand finale awarding $1 million in prize money to 10 entrepreneurs from across Africa.

The ANPI is a flagship initiative of the Jack Ma Foundation, created by Jack Ma after his first trip to Africa in 2017. The aim of the prize is to support and inspire the next generation of African entrepreneurs who are building a more sustainable and inclusive economy for the future. In its inaugural year, nearly 10,000 entrepreneurs from 50 countries across the continent applied. The Jack Ma Foundation has committed to running the competition for 10 years.

The finale event, called “Africa’s Business Heroes,” was held in Accra, Ghana, where the top 10 finalists pitched their businesses directly to four prestigious judges including Jack Ma, Founder of Alibaba Group and the Jack Ma Foundation; Strive Masiyiwa, Founder and Executive Chairman of Econet Group; Ibukun Awosika, Chairman of First Bank of Nigeria and Founder/CEO of The Chair Centre Group; and Joe Tsai, Executive Vice Chairman of Alibaba.

The specifics of the prize pool division is listed below. Each finalist is receiving a share of $1 million.

The top three finalists were:

  • Temie Giwa-Tubosun, founder and CEO, LifeBank (Nigeria) – First Place, winning $250,000
  • Dr Omar Sakr, founder and CEO, Nawah-Scientific (Egypt) – Second Place, winning $150,000
  • Christelle Kwizera, founder, Water Access Rwanda (Rwanda) – Third Place, winning $100,000

“It was an incredible honour to be named Africa’s Business Hero. I was truly inspired by my fellow winners at today’s Netpreneur Summit. The Africa Netpreneur Prize will give me the resources to grow LifeBank and expand our presence in Nigeria and throughout the rest of Africa. I look forward to continuing my journey to solve problems and make a significant impact on the future of Africa,” said Temie Giwa-Tubosun, Founder and CEO of LifeBank.

The remaining finalists, who each received $65,000, are listed below:

  • Waleed Abd El Rahman, CEO, Mumm (Egypt)
  • Ayodeji Arikawe, co-founder, Thrive Agric (Nigeria)
  • Mahmud Johnson, founder and CEO, J-Palm (Liberia)
  • Kevine Kagirimpundu, co-founder and CEO, UZURI K&Y (Rwanda)
  • Dr Tosan J. Mogbeyiteren, founder, Black Swan (Nigeria)
  • Chibuzo Opara, co-founder, DrugStoc (Nigeria)
  • Moulaye Taboure, co-founder and CEO, Afrikrea (Cote D’Ivoire)

“The finalists who competed in ‘Africa’s Business Heroes’ should be an inspiration for Africa and for the world. Each of these entrepreneurs looked at big challenges facing their communities, and saw them as opportunities,” said Jack Ma, Founder of the Alibaba Group and Jack Ma Foundation. “It is my strong belief that entrepreneur heroes, like these finalists, will change the world – creating companies that drive inclusive growth and opportunity for the continent. Everyone is a winner tonight.”

“This competition demonstrates the overwhelming entrepreneurial talent that exists across Africa. I’m very excited about the future of industry and entrepreneurship for this continent,” said Strive Masiyiwa, Founder and Executive Chairman of Econet Group. “The top 10 truly show the limitless potential of African business.”

“What really struck me about the finalists was that they each addressed specific African problems with a specific African solution in a fresh way, leveraging technology that wasn’t available previously,” said Ibukun Awosika, Chairman of First Bank of Nigeria and Founder/CEO of The Chair Centre Group. “If this is an indication of the future of entrepreneurship on the continent, then Africa’s future looks bright.”

“Africa’s Business Heroes” will be televised in a two-hour special throughout Africa. The journeys of the finalists, as well as their pitches and business insights from the judges, will all be included in this exciting television event.

You can watch “Africa’s Business Heroes” on the following dates and channels:

  • December 13, 2019 – ROK 3 on DSTV
  • December 14, 2019 – NOVELA and Sports Focus on StarTimes

Check your local listings for specific channel and airing times.

The initiative will host a pitch competition where 10 finalists from across the continent will compete for $1 million in total prize money every year through 2028. All entrepreneurs across Africa, are encouraged to apply. Entries for next year’s prize will open in the first half of 2020.

Malaysia’s pledge to embrace automation, e-payments and Industrial Revolution 4.0 tops employment needs in 2020

-
0
Malaysia’s pledge to embrace automation, e-payments and Industrial Revolution 4.0 tops employment needs in 2020

KUALA
LUMPUR, MALAYSIA – Media
OutReach – 18 November 2019 – Steering
Malaysia in the direction of progress in the decade ahead is the constant drive
towards a cashless society and all the industry sectors and employment skills
required to support this.

Details from the Michael
Page Malaysia Salary Benchmark 2020 highlights that fintech is growing at an accelerated
rate in Malaysia therefore demand for tech-savvy professionals with experience
in e-money and blockchain technologies is strong.

When it comes to automation
and digital transformation, Malaysia remains ahead of the majority. Nic
Chambers, Regional Director of Michael Page Malaysia comments, “In recent
research from the World Economic Forum, Malaysia ranks third in the world for
companies embracing disruptive ideas and fourth overall for its entrepreneurial
culture. The local business community enjoys the benefits of government
initiatives such as the Industrial Revolution 4.0 which promotes automation and
attracts new investment into the country.”

Other findings from the Michael Page Malaysia Salary Benchmark 2020 reveal that the exponential
growth of fintech, cashless payments and availability of online data, digital
ethics and privacy is a larger concern for consumers, organisations and
government bodies. Therefore job opportunities in digital banking and
cybersecurity will rise as more experts are required.

“Bringing financial services
and technology together requires a hybrid of specialised skills. Continuous
innovation is needed with interface channels to reach out to different segments
of consumers. For the overall customer experience, new technologies have also
been harnessed to optimise operations, decision making, risk management, credit
scoring, anti-money laundering and predictive analytics,” observes Nic
Chambers.

As more companies in Malaysia
move into predictive marketing, professionals skilled in augmented analytics,
AI-driven development and machine learning will be in strong demand as
organisations utilise these new platforms to stay ahead in the fast-changing consumer
landscape. These candidates skilled in technology can command a 10 — 22% salary
increase when switching jobs within similar industries.

Download the full Michael Page Malaysia Salary
Benchmark 2020 report here.

Editor’s notes: The Michael Page Malaysia Salary Benchmark 2020 is derived from 5,000 data points in our proprietary
data and network in Malaysia, which includes job advertisements and placements
from July 2018 to June 2019.


Chubb Appoints Grant Cairns as Asia Pacific’s Head of Property & Casualty

-
0
Chubb Appoints Grant Cairns as Asia Pacific’s Head of Property & Casualty

SINGAPORE – Media OutReach –
18 November 2019 – Chubb announced today the appointment of Grant Cairns as Head of Property & Casualty for Asia Pacific.
Mr. Cairns will succeed Jason Keen, who will assume a new role as Division President, Chubb Global
Markets early next year.  

As the new Head of
Property & Casualty for Asia Pacific, Mr. Cairns will have overall
management responsibility for Chubb’s extensive Commercial property & casualty
business across the region which includes Property & Terrorism, Energy,
Construction, Casualty, Financial Lines, Environmental, SME, Marine and
Industry Practice Solutions. In his new capacity, he will report to Paul McNamee,
Chubb’s Regional President for Asia Pacific.

Mr. Cairns is
currently Chubb’s Head of Financial Lines for Asia Pacific and has over 20
years of experience in the insurance industry. He started at Chubb in 2004 as
the Financial Lines Manager, Victoria, Australia and was promoted to Financial
Lines Manager for Australia and New Zealand in 2007. In 2013, he relocated to
London, starting his international career as the Regional Manager, Financial
Lines for Chubb’s Continental Europe & Africa region. Prior to returning to
the Asia Pacific region in 2018, he was the Financial Lines Manager for UK
& Ireland. He is currently based in the Singapore Regional Office.

On Mr. Cairns appointment,
Mr. McNamee said, “Grant is an astute underwriter who has a strong work ethic
and passion for the business. I have every confidence in Grant’s leadership of
the property & casualty business given his deep technical expertise and
global experience.”

About Chubb

Chubb is the world’s largest publicly traded property and
casualty insurance company. With operations in 54 countries and territories,
Chubb provides commercial and personal property and casualty insurance,
personal accident and supplemental health insurance, reinsurance and life
insurance to a diverse group of clients. As an underwriting company, we assess,
assume and manage risk with insight and discipline. We service and pay our
claims fairly and promptly. The company is also defined by its extensive
product and service offerings, broad distribution capabilities, exceptional
financial strength and local operations globally. Parent company Chubb Limited
is listed on the New York Stock Exchange (NYSE: CB) and is a component of the
S&P 500 index. Chubb maintains executive offices in Zurich, New York,
London, Paris and other locations, and employs more than 30,000 people
worldwide.

More information can be found at chubb.com

UnionBank, UBX become first Philippine partners for the MAS Business Sans Borders

-
0
UnionBank, UBX become first Philippine partners for the MAS Business Sans Borders

The partnership with the Monetary Authority of Singapore (MAS) allows UBX’s SME platform, Sentro to be integrated in the Business Sans Borders (BSB) system enabling SMEs from both markets to discover cross-border business opportunities.

 

SINGAPORE – Media OutReach – 18 November
2019 – Monetary Authority of Singapore (MAS) and Union Bank of the
Philippines (UnionBank) through its Fintech subsidiary, UBX signed a Memorandum
of Understanding (MoU) at the Singapore Fintech Festival 2019 (SFF) making
UnionBank the first Philippine partner for the MAS Business Sans Borders (BSB)
project which empower Small and Medium Enterprises (SMEs) globally.

BSB is an open connector
of participating SME-centric platforms developed by MAS and the Infocomm Media
Development Authority of Singapore (IMDA). By connecting separate platforms,
BSB helps SMEs access a much larger combined ecosystem of buyers, sellers,
logistics service providers, financing and digital solution providers. BSB uses
Artificial Intelligence (AI) to enable SMEs to access and discover fair prices
in a larger global marketplace, and easily utilise digital and financial
solutions.

Through this partnership, UBX’s SME
platform Sentro will be integrated into BSB. This will create more growth and
expansion opportunities for Philippine SMEs through the member partners of the
system.

Sentro is a comprehensive marketplace
of products and solutions curated for Philippine SMEs to help them grow their
businesses and empower them to go digital.

SMEs from
Singapore and other countries participating in the BSB, which are seeking
business opportunities in the Philippines, can access tools and services
offered on Sentro such as an SME website builder, B2B Marketplace, logistics
support, and financing thus enabling SMEs to digitize essential business
functions.

The BSB
MoU was signed during the Singapore Fintech Festival 2019 by UBX President John
Janusczak and MAS Chief Fintech Officer Sopnendu Mohanty, and was witnessed by
UnionBank Chairman Justo A. Ortiz, UnionBank President and CEO Edwin R. Bautista,
Fintech Group Head Arvie de Vera, and Platforms Head Ramon Duarte.

“In
everything we do, whether it is the Singapore Fintech Festival or the BSB, we
have one common partner and that is Union Bank of the Philippines,” said
Sopnendu Mohanty, MAS Chief Fintech Officer.

For more information on and/or
participation in BSB, visit: www.imda.gov.sg/bsb,
Details about UBX’s Sentro are available at: www.sentro.ph. 


1...4,2554,2564,257...5,503Page 4,256 of 5,503