How Stanbic IBTC Is Uplifting Nigeria’s Education, Health Sectors

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In furtherance of its avowed commitment to enriching lives in various Nigerian communities, Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has continued to raise the Corporate Social Investment (CSI) bar in Nigeria. The latest CSI project commissioned by the organisation was the renovation of a set of classrooms at Ladipo Primary School, Mushin, Lagos, by the Business Development Unit of Stanbic IBTC Pension Managers Ltd., a subsidiary of Stanbic IBTC.

In his welcome remarks at the official handover of the facility, Eric Fajemisin, Chief Executive, Stanbic IBTC Pension Managers Limited, identified the Stanbic IBTC Group’s CSI pillars as education, health and economic empowerment. He revealed that Stanbic IBTC employees voluntarily fund CSI initiatives while the organisation complements the amount they have raised through matching funds.

He added: “We chose to renovate these classrooms because of our love for education, these young students as well as this community. We believe that we cannot make much progress as a country without a well-educated workforce.”

In a message of appreciation to Stanbic IBTC, Hon. Olayiwola Olawale, a member of the Lagos State House of Assembly, representing the Mushin Constituency said that he was glad to see a corporate body like Stanbic IBTC contributing towards the growth of education in his constituency.

He said: “What Stanbic IBTC has done here is to make the learning environment more conducive for our pupils. I’m also using this opportunity to call on the staff of other corporate bodies to come to the aid of the students. Government alone cannot foot the bill of education.” 

In a related development, the company earlier renovated and furnished both the Ayantuga Primary Health Care Centre, Mushin, and the Ajaebo Primary Healthcare Centre, Idi-Araba, with life-saving medical facilities, to enable the provision of better healthcare services to the communities.

L – R: Member, Lagos State House of Assembly, Mushin Constituency 1, Hon. Olayiwola Olawale; Manager, Ladipo Primary School, Mrs Onireti Folasade and Chief Executive, Stanbic IBTC Pension Managers, Mr Eric Fajemisin; at the handover of a renovated block of classrooms by Stanbic IBTC Pension Managers Ltd., at Ladipo Primary School, Mushin, Lagos, recently.

While the employees of Stanbic IBTC Insurance Brokers Ltd were responsible for the CSI initiative at Ayantuga Primary Health Care Centre, the Risk Management Department of Stanbic IBTC Bank PLC took care of the intervention at Ajaebo Primary Healthcare Centre.

At Ayantuga, Anselem Igbo, Chief Executive, Stanbic IBTC Insurance Brokers explained: “We chose this hospital because we believe a greater number of people will benefit from this CSI project. We believe in the need to have a good environment for patients undergoing various forms of treatment so that they can recuperate faster.”

In response, Dr Onasanya Oluwatosin, Medical Officer, Ayantuga Primary Health Care Centre said: “We are thankful to God and we are thankful to Stanbic IBTC, who have deemed it fit to partner with us in renovating this facility for the use by the community and the local government”

During the handover of the facility at Ajeabo Primary Healthcare Centre, Mr Kayode Agbetoye, Head, Physical Channels Investigations, Stanbic IBTC, pointed out that the facility was refurbished to cater to the health needs of the people living within the community. He said: “Giving back to the society is part of our DNA at Stanbic IBTC and we are happy doing that. We are happy positively affecting lives and touching people.”

Expressing his gratitude to the management of Stanbic IBTC Holdings PLC, Hon. Olanrewaju Emmanuel Bamigboye, Chairman, Mushin Local Government Area, LGA, thanked the company for taking cognizance of the health of Nigerians and providing healthcare facilities to treat and prevent diseases in the society.

Interswitch Acquires eClat Healthcare

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Interswitch Limited, a leading technology-driven company focused on the digitization of payments in Nigeria and other African countries, has announced the acquisition of eClat Healthcare Limited, a Nigeria-based health technology company that aims to improve healthcare delivery in Africa.

According to a press release by the company which was made available to P.M.NEWS on Friday, the deal was completed on September 30, 2019, and it involves Interswitch acquiring a 60% stake in eClat through the purchase of shares from current shareholders and subscription to new shares issued by the company.

Founded in 2012, eClat Healthcare Limited specializes in assisting healthcare service providers in planning, designing and operating their unique practices through the deployment of its bespoke healthcare technology platform, designed specifically for the healthcare environment in Africa.

“Nigeria’s healthcare system currently lacks adequate funding and a national framework, leading to operational inefficiencies. Interswitch’s strategic investment in healthcare technology aims to address these challenges by modernising the healthcare sector in Nigeria and eventually in Africa through its innovative products and services.

“The combined product offerings of Interswitch and eClat are expected to, amongst other things, enable operators in the healthcare sector to develop new capabilities, improve the efficiency of their core operations and facilitate seamless payments.” The company said of its motive for the acquisition.

Commenting on the transaction, Mitchell Elegbe, Founder and Group Managing Director/Chief Executive Officer of Interswitch, said: “We are a technology company that is innovating to deliver value across sectors that are critical to Africa’s social and economic development, our acquisition of eClat demonstrates strong progress along with this strategy and alignment with our corporate vision.”

Also remarking on the acquisition, Dr Wallace Ogufere, co-founder/CEO of eClat Healthcare Limited stated “The growing adoption of value-based care, combined with the increasing level of usage of patient portals across the industry, has made it critical to take a new approach to patient engagement solution design in Nigeria. We expect to tightly integrate the eClat capabilities into the Interswitch platform, adding functionality that would enable providers to reach their entire patient populations by leveraging existing patient contact information”.

This new acquisition by Interswitch represents the latest of several strategic investments executed by the company to enhance Interswitch’s product and service offering and expand its reach into new markets as the payments technology sector in Africa expands rapidly.

Apple TV+ Launches At USD 4.99 Per Month, Free With Apple Music Student Plan

Apple has officially introduced its ad-free Apple TV+ subscription service, priced at USD 4.99 per month. For a limited time, people who buy a new iPhone, iPad, Apple TV, iPod touch or Mac from 10 September will get the service free for one year. Students around the world who subscribe to the Apple Music student plan will also get Apple TV+ for free, on the Apple TV app or at tv.apple.com. With Family Sharing, up to six family members can share one subscription.
The service has launched in over 100 countries and is available via the Apple TV app on iPhones, iPads, Apple TVs, the iPod touch, Mac, select Samsung smart TVs, Roku and Amazon Fire TV devices. It is also available on the web at tv.apple.com. The app will come to LG, Sony and VIZIO platforms in the future. Customers with eligible Sony smart TVs will be able to enjoy AirPlay 2 support later this year.
Apple Originals available now include “The Morning Show,” “See” and “For All Mankind,” all of which have debuted their first three episodes and will release a new episode weekly every week. Also, all episodes of “Dickinson,” as well as kids and family shows “Helpsters,” “Snoopy in Space” and “Ghostwriter,” are available to watch now. There is the documentary film “The Elephant Queen,” as well as the first instalment of “Oprah’s Book Club,” featuring Oprah Winfrey in conversation with Ta-Nehisi Coates. “See,” also available, is set 600 years in the future after a virus has decimated humankind and rendered the remaining population blind. New Apple Originals set to come out in the next few months include series “Servant” (28 November), “Truth Be Told” (6 December) and “Little America,” and movies “Hala” and “The Banker.”
Original content will be subtitled or dubbed in nearly 40 languages, including Subtitles for the Deaf and Hard-of-Hearing (SDH) or closed captions. Apple Originals are also available with audio descriptions in eight languages.

FBNQuest Merchant Bank To Host Its 2019 Wealth Management Customer Forum

FBNQuest Merchant Bank, the investment banking and asset management group of FBN Holdings Plc, will be hosting a Wealth Management Customer Forum, to provide extensive insights to its varied services including wealth preservation, growth and inter-generational wealth transfer.

The Wealth Management Customer Forum will provide a platform for key stakeholders to discuss the benefits of developing diversified portfolios through effective wealth management, and reintroduce FBNQuest’s Wealth Management bouquet of products and services. Participants expected at the session will include Ultra High Net worth and High Net worth clients across all sectors of the economy.

The Forum will also present the opportunity to obtain customer feedback on consultative and advisory services and to showcase customer appreciation, as part of the Bank’s efforts to strengthen relationships and ensure long term wealth preservation and transfer for Ultra High Net Worth and High Net Worth clients and their families.

Date: 5th November 2019

Venue: Wheatbaker Hotel, Ikoyi Lagos Nigeria.

Time: 11 am

The Wealth Management Services at FBNQuest Merchant Bank offers expertise in long term wealth management and a step by step guidance on the different investment services and solutions available for clients.

2019 Housing Finance In Africa Yearbook Launched With Regional Argument For Investment In Affordable Housing

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The Housing Finance in Africa Yearbook is the flagship publication of Centre for Affordable Housing Finance in Africa (CAHF) and remains the only publication of its kind on the continent.

Investor interest in affordable housing for lower-income households has grown considerably in Africa over the past 10 years. However, the lack of reliable, available information continues to stunt market growth and often drives investment away.

A number of crucial gaps are identified in the latest edition of the Housing Finance in Africa Yearbook, launched by the Centre for Affordable Housing Finance in Africa (CAHF) in Cape Town today. According to Kecia Rust, CAHF executive director and founder: “In 2019, investors are desperate for information about the affordable housing market, but their enthusiasm will dissipate if specific opportunities cannot be identified and quantified insufficiently reliable ways. Current investment in affordable housing in Africa, while growing, is still grossly insufficient.”

Among the data, gaps are lack of information about the total size of outstanding mortgages, and information on lending, including construction and microfinance loans. The status of the deeds registries in many countries is also a problem, making it impossible to determine how many people have title deeds for their homes.

Other essential data difficult to find include the number of approved building permit applications, or even the number of properties where rates are being paid in the main city.

“A surprising number of countries do not appear to track housing completions, and do not have a data point that clarifies how many houses there are in a country – this is also true for a segment of the South African market, where the total number of subsidised houses built by the government since 1994 cannot be determined with certainty,” the Yearbook notes.

Another problem is that data is invariably aggregated to the national level. This means the ability to understand local nuance is lost.

The Housing Finance in Africa Yearbook is the flagship publication of CAHF and remains the only publication of its kind on the continent. No other source provides this type of updated information on residential property with a focus on the affordable market.

This year’s publication is the 10th-anniversary edition. It is aimed at housing finance practitioners, investors, developers, researchers and government officials, and provides an up-to-date review of developments in housing finance and delivery in Africa, reflecting the change and growth in the market of each country over the past year. The publication provides concise overviews of the housing markets in all 55 countries of Africa, as well as five regional profiles, that together provide data and analytics for investors looking to invest in affordable housing across the continent.

Mastercard SpendingPulse: Holiday Sales Expected To Grow 3.1% This Year

Retail sales this holiday season are expected to be a continuation of the same, in line with the solid performance seen throughout 2019.

According to Mastercard SpendingPulse, which measures consumer spending across all payment types including cash and check, we can expect overall U.S. retail sales (excluding automotive) to grow 3.1% between November 1 and December 24. This is compared to the same period last year.

Key trends to watch:

  • Omnichannel expectations: This holiday season, online sales are expected to make up 14.6% of total retail sales (ex-auto) as double-digit e-commerce growth continues.
  • Experience is everything: The experiential categories—such as restaurants and travel—are expected to continue their growth trend as consumers redefine the “splurge.”
  • Calendar shift: Due to a later than usual Thanksgiving holiday, there are only 26 days between Thanksgiving and Christmas this year vs. 32 days in 2018. This will cause a concentrated number of shoppers in stores on key shopping days as well as a likely increase in intensity and importance of online sales and promotional activity before and during Thanksgiving week.

Top U.S. Holiday Shopping Days by Spend – 2019

Rank Date
1 11/29/2019
2 12/21/2019
3 12/14/2019
4 12/20/2019
5 12/7/2019
6 12/13/2019
7 11/30/2019
8 12/6/2019
9 11/27/2019
10 11/23/2019
Mastercard SpendingPulse™

 

“Despite fewer shopping days between Thanksgiving and Christmas, the sales outlook remains positive overall,” said Steve Sadove, senior advisor for Mastercard and former CEO and Chairman of Saks Incorporated. “A shorter holiday season puts more importance on each shopping day of the season, making the role of the internet important in helping deliver consumers the omnichannel shopping experience they want.”

NTA Get Approval To Broadcast The English Premier League In Nigeria

Nigerian Television Authority (NTA) has acquired sub-licensed rights to one English Premier League fixture per match week.

The media rights were secured by Leading sports marketing Company, Integral Sponsorship and Experiential Marketing Limited for NTA  to broadcast a live English Premier League match per week on free to air television over the course of the 2019/2022 rights cycle.

The media rights package also includes the Premier League-produced magazine show, which will be aired weekly, thus delivering this most loved football tournament in the world to Nigerians.

“Nigeria is a key market for the English Premier League. Together with Integral, we hope to maximize its media exposure in the country and provide an opportunity for passionate Nigerian fans to follow the action on Free-To-Air TV,” said Infront France Managing Director,  Jean-Francois Jeanne.

The Nigerian footballing community has welcomed the news with opened arms and happy to be able to finally watch their favourite sports content tomorrow.

Atoyebi, Sosan, Others Speak On Responsible Fatherhood At Lagos Boys Conference

Efforts by a renowned Lagos based non-governmental organisation, Predictable Future Foundation (PFF) to grow values and ethics among the male folks in Nigeria received a huge boost as the fathers’ breakfast and Boys conference organised by the group recently in Ikeja ended in a huge success.

The two-in-one programme that took place last Wednesday at the main hall of the prestigious Dansol High School, Ikeja-Lagos attracted over 500 schoolboys and many dutiful and responsible fathers.

Starting with the fathers’ breakfast that lasted for almost 2 hours, an array of inspirational speakers spoke extensively to the fathers on the theme – Raising the king in your son.

Chairman of the occasion, Mr Olufemi Peter Atoyebi, a Senior Advocate of Nigeria (SAN) and industrialist who also chaired the second segment of the programme, reminded fathers present of their roles in moulding the minds and future of their sons. He explained that the examples that fathers project, will always provide the pedestal on which their sons will position themselves to become great leaders and responsible fathers in future. A 28-page manual that can help boys become future leaders was unveiled during the Fathers Breakfast.

Special Guest of Honour at the occasion, Princess Sarah Adebisi Sosan OFR, a former school teacher and former Deputy Governor of Lagos State spoke extensively on the need for boys to imbibe characters like integrity, hard work and respect for others. This, she explained was the surest route they can take towards becoming real men.

Speaking from practical analysis for anyone to apply, Femi Atoyebi SAN., revealed that the male child is an endangered species because the enemy of mankind knows that if he allows the male child to flourish, the world will change positively. Atoyebi SAN. restated that Satan may change his strategy, his goal to destroy remains the same.

To avoid destruction, he identified three things boys must watch with caution – the internet/social media, disrespect to parents and negative peer influence. He called on all boys present and their fathers to regulate the time spent on social media to control its disruptive and distracting influence. He urged the boys to equally respect their parents and rise above peer influence if they won’t go through the processes of life to become successful in future.

Another speaker, Bolutife Oluyomi, a leadership consultant and Faculty member of the renowned Daystar Leadership Academy shared in a very captivating manner how and why boys should have role models. He advised strongly that each boy should pick role models basically for the values and character they exhibit. He listed such values to include hard-work, excellence, financial independence, truthfulness among others

Other speakers at the Boys Conference include Olusola Obabori, Redstar CEO who spoke about godly character and knowledge acquisition, Ayodele Oyebanjo, Chairman of PPF who spoke excellently about the importance of being determined to make impact and a team of discussants, Dele Sotubo, Jerry Sawyer, Charles Nnochiri and Armstrong Adedugba, who all impacted the boys through their life histories.

Commenting at the end of the event, and obviously elated convener and founder of Predictable Future Foundation (PFF), Hannah Oyebanjo expressed her fulfilment and joy at the level of impact the programme has made. She explained that although the main focus of the foundation is providing education for less privileged girls in the Nigerian society and to positively re-channel and re-focus deprived girls back to education, his team decided to shift slightly when many observers and supporters pointed out the need to equally do something for the male child if the development of the girl child is to be consolidated for a better future. “Today’s success reveals that we took the right step and we are poised to consolidate on this with more programmes, conferences and activities in the near future” Oyebanjo stressed.

Faces of attendees of the Fathers Breakfast meeting and Boys Conference radiated excitement and satisfaction as they all went home with loads of amazing benefits- gifts from Premier Soap, Free mini-book on becoming a Future King sponsored by Nestle Nescafe among other freebies. The CADAM team was on ground to provide counselling on addiction, while investment tips and other financial opportunities were provided by the team from Stanbic IBTC Investment.

South Africa Winning The Rugby World Cup Will Inspire Millions On The African Continent

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Khaled Babbou, President of Rugby Africa, and all the African unions’ presidents gathered in Tokyo congratulate the South African Rugby Union (SARU) on their successful Rugby World Cup and highlights the importance of African success for the future development of the sport.

“The Springboks have risen to the top of World Rugby Men’s Rankings and that brings Africa back on the map of the top world rugby teams. Millions of young kids will be inspired. The enthusiastic fan base in South Africa created a vibrant Rugby festival. This is a great signal and will surely provide a boosting dynamic for South Africa and its African co-unions. Through consistency, fair play and great teamwork, the dedication and professionalism of each team member, the Springboks showed greatest rugby moments. Congratulations, SARU, and we can’t wait to see the 2022 Rugby World Cup Sevens in Cape Town”, he said.

Led by the first black captain in the Springboks’ 128-year rugby history, South Africa’s multiracial team won their record third World Cup title by defeating England in a 32-12 victory on Saturday, November 2, 2019.

South Africa has only played in the World Cup seven times, having been barred from the 1987 and ’91 tournaments as part of sporting sanctions during the apartheid era.

Still on the matter: Ajaokuta Steel – Is it still worth it?

In the midst of a dwindling foreign reserve and FDI, the FG parleys Russia with the aim of waking up the Ajaokuta Steel Company…

Is this a step in the right direction or another futile attempt…?

Check out below on this week’s edition of Still on the matter!