14: Its HOT in here

AwodwaGyanOniwe:
Dumb refuse spoecies!!!!!!Zero reasoning ability since SLAVE TRADE.

CraigB:
Living in self-delusion: Who controls Africa’s economy— Nigeria or South Africa?

on September 01, 2014 / in Broken Links 12:56 am / Comments

By OMOH GABRIEL

When in 2004 President Olusegun Obasanjo muted the idea of a state- backed Nigerian company that can compete favourably with multinational companies, Nigerians partially bought into the idea.

AfricaThis led to the setting up of Transnational Company of Nigeria otherwise called Transcorp.

It was meant to be private sector-driven but has the stamp and backing of the state.

As soon as the company started, insinuations and condemnation trailed its take off and not too long after, what was a noble idea fizzled out. The dream was stillborn.

Japan, unlike Nigeria, when it started its post-war economic reconstruction, put in place appropriate economic policies to support the development of the private sector.

Over the years, it was the dynamism of the Japanese private sector that saw a country without natural endowment emerging in the late 70s as world economic power house.

Looking at the example of the economy of South Korea, it is the same dynamism of private sector companies that has brought the country to its present status as one of the Asian tigers.

You can easily count the companies making wave in South Korea — Kia Motors, Daewoo, LG Electronics, Hyundai etc.

Nigeria today prides itself as the leading economy in Africa by gross domestic product measure. That is all there is to it.

The question to ask is who are those making it happen in the Africa continent? How many Nigeria-owned companies of note are global players in Africa’s economic scenario?

The fact on ground has reduced the Nigeria euphoria to mere cheap talk, fantasy and day-dreaming. Apart from Dangote Cement, perhaps UBA, Zenith, GTbank and few others which have presence in some African countries, though not in South Africa and North Africa; there is no visible presence of Nigerian businesses elsewhere.

But South Africa which Nigeria with fanfare celebrated it took over from as the leading economy in Africa, is everywhere in Nigeria and other African countries.

A global bank ranking by The Banker in 2014 has shown that South Africa dominates banking industry by assets in Africa.

The assets of Standard Bank alone is more than that of the five leading banks in Nigeria despite the 2004 banking consolidation. Financial industry report also showed that ETI is the largest bank in Africa by spread and majority of its staff are Nigerians.

Indications are that South Africa’s fourthlargest bank, Nedbank will by the end of 2014 own 20 per centof ETI. Simply put, a South African bank will be the largest bank in Africa by assets and one of its other bank is about to own 20 per cent of Africa’s largest bank by spread.

Funny enough, ETI is not even headquartered in Nigeria but is depending on Nigeria to drive its earnings. So who is the leader? Nigerians should please think and answer the simple question.

Another South African bank, Standard Bank, bought over IBTC/Chartered Bank which, for purpose of identity, is called Stanbic/IBTC. This Nigerian arm of the South Africa bank is the largest equity trader by value in Nigeria, largest portfolio manager and is represented on the council of the Nigerian Stock Exchange.

It has also been selected as the sole broker for the Federal Government of Nigeria and was picked by the government to be the settlement bank for the electronic warehouse receipt system introduced by the Nigerian Commodity Exchange.

Its founder and board chairman of the Nigerian arm of Standard Bank, Mr. Atedo Peterside is on Nigeria’s Economic Management Team.

The poser to this government is: which Nigerian bank has made any inroads worth mentioning into South Africa? How many Nigerian corporate entities are operating in South Africa profitably? No thanks to haphazard economic policies of government.

According to Jude Fejokwu, Principal Analyst, Thaddeus Africa Research, Templeton has its African investments office in South Africa but its emerging market star manager is more excited about Nigeria than South Africa.

Renaissance Asset Management, he disclosed, has a pure Nigerianfund and so does Sustainable Capital. Both companies run the funds out of South Africa. It is now obvious MTN Nigeria generated 37 per centof total revenue for the MTN Group worldwide as at first half of 2014.

The Nigerian arm’s revenue was 41.5 per centhigher than that of the home country, South Africa. The Nigerian arm increased revenue by 21.5 per cent while the South African arm had a decline in revenue of 7 per cent. MTN has been in Nigeria for 13 years and Nigeria contributes more than a third of the revenue for the whole MTN Group worldwide.

Meanwhile, MTN Nigeria is not listed here, where it rides the wave of profitability and repatriates the funds back home.

DSTV will be no different from MTN in terms of where majority of its revenue comes from. It increases its subscription fees every 15 months on average.

It is also not listed in Nigeria. China’s National Development & Reform Commission handles issues of pricing in China in conjunction with two others.

The organisation recently forced automakers like Mercedes to reduce their prices which the Chinese said were selling in excess of their home markets.

The same thing that the Chinese authorities kicked against is happening here in Nigeria, Africa’s most populous nation and no one is talking of doing anything about it.

The people who are in position to do something about this are busy discussing how to embezzle more money to afford these exorbitant prices instead of protecting the populace.

Tiger Brands, a South African company has bought a majority stake in UAC Foods and Dangote Flour in its quest to drive earnings which have stagnated in its home country. Shoprite, another South African firm is working on its 10th shop in Nigeria presently.

It does not disclose its profit margins and is listed in its home country and not in Nigeria where it is making a lot more money than it envisaged and continues to have increases in headline earnings.

I cannot but agree with Jude Fajokwu, Principal analyst Thaddeus Africa Research that Nigeria may be the largest economy overnight but it is definitely not seen as the wife of African financial services industry.

It remains a bachelorette that no one is interested in marrying because they are getting so much milk and honey piewithout commitment, so why proceed further.
- See more at: http://www.vanguardngr.com/2014/09/living-self-delusion-controls-africas-economy-nigeria-south-africa/#sthash.zZfQMSPc.dpuf

CraigB:
Living in self-delusion: Who controls Africa’s economy— Nigeria or South Africa?

on September 01, 2014 / in Broken Links 12:56 am / Comments

- See more at: http://www.vanguardngr.com/2014/09/living-self-delusion-controls-africas-economy-nigeria-south-africa/#sthash.zZfQMSPc.dpuf

AwodwaGyanOniwe: MTN is making waves in Mid east and moving to Asia thanx to their good service
MTN has over 45million MTN users in Iran...

AwodwaGyanOniwe: Oga flat everyone knows that Iran's popultion is at 77m and MTN has over 45m subscribers there.
I was right ZERO reasoning ability, he failed to read SIMPLE ENGLISH 45M users.
In RSA MTN has 25m and in Ghana 12m users does that mean SA's population is 25m and Ghana 12m
Dumb MR IBU...

AwodwaGyanOniwe: @GraigB
SHOPRITE's profit was at $10 billion this year is expected to be around $20 billion next year. Theyr building stores in east african countries like Kenya,Ethiopia,Uganda,Tanzania etc..nort africa and mid east.
Their profit doubled their 2013 profit.

AwodwaGyanOniwe: Woolies fvcked off in 3rd world overpopulated sh8thole called Naaigayria after 2 weeks, noticed that things weren't what the newspapers were saying. Reasons for fvcking off included DIRTY RETAIL SMALL SPACE, POOR INFRASTRUCTURE, NO POWER etc..They said Naaigayria's infrastrucutre was in a SERIOUS STATE OF DECAY. Quote:closed that was WOOLIES.

Now they rule Astralasia and moving to China and Japan buying pps off. Thanx to the fact that the world knows SA is about GOOD SERVICE and that was stamped in 2010 WC and other events

Hbuyosh: Shoprite in Kenya? No. I do not think they can effectively compete with the established stores here.

AwodwaGyanOniwe: MTN world in 2009 and later we covered whole of Africa.

MTN Hits 203 Million Subscriber Base
August 15, 2013 Kehinde Adaramola Business
mtn-group


VENTURES AFRICA – South African telecoms operator MTN Group today revealed that its subscriber base has hit 200 million, significantly boosted by its 6.5 percent increase during the first half of the year.

During the period, the company disclosed that traffic volumes increased 26.2 percent and voice revenue grew 7.9 percent, adding that voice revenue now accounts for 63.7 percent of total revenue generated by the company.

In an official statement, the operator stated that the subscriber’s growth was supported by “increased network capacity driven by competitive data offerings and the success of hybrid and classic packages.”

According to the company, revenue for the six month increased despite being negatively impacted by tariff cuts in Nigeria and South Africa.

The strategy set off in 2012 which saw the business split into the key pillars of South Africa, Nigeria and the large operating companies’ clusters, “enabled more focused management and better execution of strategies across the various business units”, said MTN Group President and CEO Sifiso Dabengwa.

“We are grateful to our customers for their loyalty and distribution to the growth of the MTN brand over the years”.

“To this end, we would make significant investments towards education over the next 2 years as part of our corporate social responsibility goals”, Dabengwa added.

Looking ahead, the chief said the company’s vision and mission has positioned MTN well for further growth into the future.

Launched in 1994, the MTN Group is considered as an emerging mobile market operator with presence in 22 countries across Africa, Asia and the Middle East.
Our aim is to have 300 million users by 2017

all4naija:
You are posting old information, dude. The MTN subscribers in Nigeria is more than the total population of South Africa. It is 57.2 million! Bwahaha...

Go Nigeria, the true GIANT of Africa.

Adeyemiopemipo: They could be where Nigeria is

14: Mmhhhhh, all4kak, hot under the collar, smelly ampits

CraigB: Hahaha - Tafelkoppe getting it.


https://www.youtube.com/watch?v=jAFRyFc_14E

all4naija:
Bwahaha... You cannot differentiate between the woolworths that originated from SA and the WOOLWORTHS that originated from Australia. Next time you would come up with standard charter bank as being SA bank. You need to read up,you are no brainier!

14:

CAPE Town-based Woolworths is to acquire Australia’s second-largest department store chain, David Jones, for A$2.1bn (R20.5bn).

The combination will create a southern-hemisphere juggernaut and equip both retailers to compete with fast-fashion icons such as Zara, Topshop and H&M, which are making inroads in both South Africa and Australia.

Woolworths CEO Ian Moir said on Wednesday the transaction would provide it with the scale and opportunity to deliver significant benefits to its shareholders and customers in South Africa and Australia.

"The combination will create one of the world’s largest department stores with meaningful scale, able to leverage common fashion seasonality with enhanced sourcing capability," he said.

David Jones, also known as DJs, is one of Australia’s oldest and most prominent department stores. It operates 38 stores across that country and owns its flagship stores in Sydney and Melbourne.

Woolworths has operated in Australia for more than 15 years through its subsidiary Country Road Group, which operates the Country Road, Trenery, Witchery and Mimco brands.

The deal is expected to deliver synergies of at least R1.4bn a year in earnings before interest and tax within five years.

"Each business will be well equipped to compete with global retailers in their respective markets," Mr Moir said.

Under the proposal, David Jones shareholders will receive A$4 cash per share, which represents a 25.4% premium to the share’s closing price on April 8.

The transaction is to be implemented through a scheme of arrangement between David Jones and its shareholders.

http://www.bdlive.co.za/business/retail/2014/04/09/woolworths-to-buy-australias-david-jones

Stupid boy, who knows nothing, busy all day smoking dry poo

AwodwaGyanOniwe: Martyn
Note: MTN made $2,5 billion in profit in Naaigayria 57m subscribers Thats not money thats NOTHING. Thats far lesser to what shoprite makes in other parts of Africa Bantulands of course. For me RSA firms must focus on


BANTULANDS, Population=over 450 million people living south of equator.

SW Cameroon, CAR, Gabon,Equitorial,Cong Brazza,Congo Kinshasa,Angola Guinea,Kenya,Uganda,Tanzania,Burundi,Rwanda,Malawi,Mozambique,Zambia,Zimbabwe,Namibia,Botswana,Swaziland,Lesotho etc..We must help these DEVELOP INFRASTRUCTURALLY even help them in farming like Congo these days gets help from SA farmers.