South Africans and their African counterparts are dumping DStv as they move to more affordable streaming services.


MultiChoice’s financial results for the year ended 31 March 2024 showed it lost 9% of its active subscribers over the last year.

The decline in active subscribers was mainly due to a 13% decline in the Rest of Africa business as mass-market customers dumped DStv.

MultiChoice blamed tough economic conditions, where households prioritise basic necessities over entertainment, for the decline.


In South Africa, DStv subscribers declined by 5%. The broadcaster also blamed tough trading conditions for the drop.


“The South African economy continues to endure severe economic pressure, with consumers under financial distress due to high inflation and interest rates,” it said.

“Consistent load-shedding through the year has created an environment where customers without backup power were reluctant to subscribe.”

MultiChoice said households did not want to pay for DStv because they were unsure if they could watch TV during power cuts.

“The net effect was increased pressure on subscriber numbers, activity and viewership, with active subscribers down 5% to 7.6 million at year-end,” it said.

It explained that Premium and Compact Plus DStv packages declined by 8%. Premium bouquets were more stable than the Compact Plus offering.

This was due to focused retention efforts and the progression of the Premium base towards a more stable core cohort of subscribers.

The Compact base, like the Compact Plus base, was most exposed to the macroeconomic challenges. As such, it declined by 9%.

The mass market tier, which traditionally showed strong growth, declined by 2% due to pressure in the Family base.

The reality is that DStv has become a luxury which many South African and African households are not willing to spend money on.

Many more affordable entertainment alternatives exist, like Netflix, YouTube, Showmax, and Disney+.

With increased broadband penetration rates and lower data costs, South Africans are migrating from DStv to these streaming services.

The chart below, courtesy of The Outlier, shows the decline in DStv subscribers over the last financial year.

The decline in subscribers shown in financial results

The decline in DStv subscribers, which generate by far the most revenue for the company, filtered down to MultiChoice’s financial results.

Its latest financial statements showed it made a R4.1 billion loss and has become technically insolvent.

Foreign exchange headwinds and a lower subscriber base combined to result in a 5% net decline in group revenues to R56 billion.

Weaker subscriber trends and foreign exchange pressures affected group trading profit, down 21% to R7.9 billion.

MultiChoice’s loss for the year increased from R2.9 billion to R4.1 billion – a 42% decline. It is its worst performance on record.

Even more concerning is that the DStv owner has become technically insolvent. Total assets declined from R47.6 billion to R43.9 billion, while liabilities increased to around R45 billion.

This leaves MultiChoice with a negative equity of R1.068 billion, which means it is technically insolvent.

Simply put, MultiChoice cannot settle all its liabilities if all its assets are liquidated. This is a dismal state for a company.

Wayne McCurrie from FNB Wealth and Investments described MultiChoice’s latest results as truly awful.

He said the only saving grace for MultiChoice’s share price was the Canal+ offer of R125 per share to acquire the company.

However, analysts warned that the deal would face many hurdles, including approval from the Independent Communications Authority of South Africa (ICASA) and the Competition Commission.

Therefore, it is not certain that the deal will go through. This poses a significant downside risk to current shareholders.

Shane Watkins from All Weather Capital expects the share price to drop to below R60 if the deal does not happen.

McCurrie is even more bearish, saying the share can go to R40 or even R30 if there is no Canal+ deal.

Watkins added that unless MultiChoice is bought by Canal+ or dramatically improves its operations, it will need to raise capital through a rights issue.

SOURCE:https://brandspurng.com/2024/07/09/people-across-south-africa-are-cutting-their-dstv-cord/

Through the Business of Food workshop in Sokoto, Nestlé Professional, the Out of Home business division of Nestlé Nigeria, and a top supplier of food solutions, maintained its initiative to assist food sellers in Nigeria in strengthening their local economies.

In its eighth iteration, this empowerment initiative has enhanced and furnished more than 1,900 food enterprises throughout seven states with vital competencies and insights to augment their operations and augment their earnings.

As one of the industries that are developing the fastest to meet the demands of Nigerian consumers, canteens, grillers, Maishais, and bukas are vital to the low-income communities in Nigeria. These food sellers frequently lack the resources they need to succeed, even though they are crucial for supplying busy metropolitan regions with daily nutrition.



By providing networking opportunities, upskilling opportunities, and training on critical parts of the food industry such as menu planning, customer engagement, culinary methods, and most crucially, proper hygiene procedures, the empowerment programme seeks to assist participants in improving their companies.

As the business news Nigeria holds, Mrs. Funmi Osineye, the Business Manager for Nestlé Professional in Nigeria, had this to say: “We are thrilled to bring this Business of Food workshop to Sokoto because we recognize that the business of food extends beyond preparing delicious meals. It involves a focus on nutrition, pricing, presentation, taste, and hygiene. Our goal is to support food vendors of all sizes by providing them with the knowledge and tools derived from our global insights and local experience. We are confident this will foster lasting change and growth within the local food vendor community, as witnessed in previous locations.”

Continuing, a standout feature of the half-day training session was Chef Faridah’s workshop on how to prepare Masa and Miyan Duka, a dish that perfectly captures the spirit of northern Nigerian culinary traditions and provides a flavour of history, community, and custom. In addition, there was a fun cooking competition where the teams “Chicken” and “Star” tried to make the tastiest spaghetti dish.

Participants were reassured by Mrs. Osineye that Nestlé Professional is still dedicated to fostering the expansion and prosperity of food vendors in Nigeria. She stated: “We aim to make more possible by uplifting the local food industry, promoting entrepreneurship, and creating a positive impact in communities.”

SOURCE:https://brandspurng.com/2024/07/08/nestle-professional-organizes-workshop-in-sokoto-continues-to-empower-food-vendors-in-nigeria/

The Equity Health Group is a forward-thinking healthcare conglomerate committed to revolutionising healthcare delivery. Its mission is to provide accessible, high-quality medical services globally, fostering wellness and medical excellence within communities. The Arole Oduduwa & Ooni of Ife, Ooni Adeyeye Enitan Ogunwusi, CFR Ojaja II, unveiled the Equity Health Group. The facility is scheduled to open for public usage on Monday, July 1, 2024, and will be formally launched in Lagos State on July 15 and 16, 2024.

By guaranteeing that no patient would be denied high-quality healthcare because of financial limitations, particularly in times of emergency, the Ooni hopes to demonstrate how important it is to value humanity in general and life in particular.


This is a direct result of His Imperial Majesty’s engagement and enormous investment in Nigeria’s health sector since taking on the role of Arole Oduduwa. This was especially evident when the COVID-19 pandemic struck, as evidenced by the professional team that was assembled, along with reputable medical research organisations, laboratories, and other institutions, to guarantee the safety of Nigerians.


The Ooni had this to say to reporters about the driving force behind the healthcare company: “The last pandemic drew my attention to a lot of untapped medical potentials of we black people especially here on the throne of Oduduwa, these stuffs (Herbs and its likes) are what saved us from experiencing major challenges faced by most developed countries when no one regardless of riches or status could travel to seek medical attention abroad.

“I had to constitute a team of scholars particularly in the medical profession and veterans in the business/practice of the ancient herbal and alternative medicine who brainstormed on exploiting the best in our local herbal medicine, and this led to the discovery of potent solution through which beneficial products with which we combated and defeated the pandemic were discovered. I must hail the collaboration with the National Agency for Food and Drug Administration and Control (NAFDAC), Afe Babalola University, Ado-Ekiti, National Institute for Pharmaceutical Research and Development (NIPRID), and frontline medical research institutions in the country which brought us this far.


“I remember developing an initiative, called “Pan African Foundation for Indigenous Medical Research and Development (PAFIMERD)” in 2020 during the celebration of African Traditional Medicine Day. All these activities have now snowballed into Equity Health Group; an international hospital and diagnostic centre with a lot of interlinked arms of medical solutions including drug manufacturing, pharmaceuticals, and vaccine production among others. The best part of it is that this facility will source its ingredients locally, thereby strengthening the Naira while boosting the country’s productivity.

“Equity Health Group stands at the forefront of healthcare innovation, encompassing a diverse portfolio of subsidiaries. Through these subsidiaries, we endeavor to revolutionize healthcare delivery and promote well-being globally. At Equity Health Group, we believe in patient-centered care, innovation, and integrity.

“Our watchword is to dignify human life by attending to all emergencies immediately regardless of the patient’s financial status. We will work to save lives first and not ask for papers or money from a dying patient,” Ooni added.

The Ooni had this to say on the involvement: “To the glory of God, I co-own the company with a young visionary entrepreneur – Dozy Mmobuosi who has a very clear and similar vision to take the black race out of over-dependence on the Western world for medicine. We combined efforts to make it a world-class medical institution and diagnostic centre.

“I am pleased to inform you that the company has three subsidiaries. The first is the Equity Specialist Hospital and Diagnostic Centre; a comprehensive hospital and diagnostic service that focuses on advanced medical technology and personalized care. Presently, it is situated in Lagos State with plans for expansion to other parts of the country and the United Kingdom. The second arm is the Equity Pharmaceuticals; a company that will leverage innovative technology to provide quality pharmaceutical products and services. Last but not the least is the Equity Vaccine Laboratories; an arm that focuses on the research and development of vaccines for global health security. With this, we aim to pioneer vaccines to tackle pressing global health challenges and ensure a safer future for all.

“In actualizing the purpose of this outfit, we shall bring on board our higher institutions of learning particularly the medical arms of reputable universities including the Ojaja University, Eyenkorin, Ilorin, Kwara State which I own. This will cement the “town and gown” relationship, thereby enhancing the productivity of our graduates,” he added.
The National Council of Traditional Rulers of Nigeria’s co-chair, Ooni Ogunwusi, came to the conclusion that Nigerians would have an easy place to end the practice of travelling abroad for medical care due to the country’s improved health facilities, particularly thanks to the involvement of the private sector like Equity Health Group.

He said, “Aside from the provision of unequaled medical services for Nigerians in line with best global practice, Equity Health Group is structured to actively participate in global medical research especially in the area of vaccine production/development to safeguard global health. As the giant of Africa, Nigeria should be at the forefront of vital global medical conversations like the development of vaccines against malaria disease upon which we cannot afford to be dependent on the Western world.

“While I am neither a medical doctor nor a pharmacist, I passionately believe that we have what it takes to change the narrative of over-dependence on medical tourism to the developed countries. Beyond the area of research, Africa and indeed Nigeria can be a major powerbroker in the global pharmaceutical and medical industry,” he added.

SOURCE::https://brandspurng.com/2024/07/03/the-ooni-of-ife-arole-oduduwa-two-other-royalties-unveils-equity-health-group/

Browsing the Internet can be an exciting adventure, but also a risky one. With the increase in online transactions and digital interactions, opportunities for scams are increasing. It is therefore crucial to know how to protect yourself. Here are some practical tips to help you navigate safely and avoid the traps of scammers.

Be wary of offers that are too good to be true


If an offer seems too good, it probably is. Be wary of websites or emails offering amazing promotions or easy wins. Do your research and check reviews from other users to verify the legitimacy of an offer.


Check the authenticity of websites


Before making an online purchase or providing personal information, make sure the site is secure and authentic. Check if the URL starts with “https://” and search for reviews of the site or business on platforms like Star evaluator.


Star evaluator is a great resource for reading customer reviews and assessing a business ‘s reputation online. Check out the ratings and reviews to get a clear idea before committing.

Protect your personal information.

Never share your banking information, passwords or other sensitive data via email or on unsecured sites. Use strong passwords and change them regularly. Also avoid clicking on suspicious links or attachments in questionable emails.

Scammers often exploit security vulnerabilities in outdated software. Make sure you keep your operating systems, browsers, and antivirus programs up to date for the latest protections against online threats.

Use common sense

Ultimately, the golden rule to avoiding internet scams is to use common sense . If something seems suspicious or too complex, it is better to refrain and seek additional information.

By following these tips and remaining vigilant, you can browse the Internet safely and avoid potential scams.

Remember to always check the reputation of a business or website before sharing your information or making a purchase. With the right precautions, you can take full advantage of everything the digital world has to offer, without falling into the traps of scammers.

SOURCE:https://brandspurng.com/2024/07/04/how-to-avoid-internet-scams/

Stakeholders in the Nigerian automobile sector claim that the country can build 1.15 million vehicles annually, opening up a plethora of job opportunities and considerably increasing GDP.


At a recent summit hosted by the National Automotive Design and Development Council (NADDC) and the Nigeria Auto Journalists Association (NAJA), they made this claim.

Board member of the Nigeria Automobile Manufacturers Association (NAMA), Benedeth Ejindu, discussed how the global automotive industry plays a catalytic role in driving economic growth in his paper presentation on “Developing Nigeria’s Economy Through the Auto Industry.” This is demonstrated by the sector’s significant contributions to employment generation and economic development in other countries.



According to Ejindu, “For instance, in the United States, the automotive industry employs over 1.7 million people directly, with a single job in the industry creating 10 more. In India, the industry employs 19 million people directly and indirectly, while in South Africa, it employs 110,000 people directly.”

He claimed that Nigeria is only at the beginning of the automotive value chain, pointing out that, “It’s like only getting the ‘froth’ of the industry while the rest of the world enjoys the full glass. Our role is limited to the dealership and ownership aspects, just the surface level of the industry. It’s like settling for just the foam on a glass of beverage, missing out on the full, rich experience of the drink itself, which represents the heart of the industry—the factories, the manufacturing, the true essence of auto production.”


Declaring that Nigeria presents a special blend of potential and resources, making it a haven for automakers, he said, “We can produce 1.15 million vehicles annually. The necessary resources are readily available, including abundant leather, textiles, and rubber.

“There are iron, steel, aluminium, plastic, elastomers, and more. Additionally, we have the necessary materials for electric vehicle production, including cobalt, lithium, manganese, bauxite, and graphite. These resources are readily available in Nigeria, making us an ideal location for automotive production,” he added.

He advised the government to support the industry through legislation, infrastructure development, and incentives to fully realise the potential of Nigeria’s automotive sector. He also mentioned that the industry needed to be in line with international best practices and that Nigeria needed to outlaw used cars to foster the growth of local manufacturing.

Continuing, he advised on how local manufacturing businesses in Nigeria, like as Innoson, Anamco, Pan, and all the other players, might use common infrastructure, just as in China, to avoid having to travel to build their press or machine.

He revealed, “Most of the cars, like pickup trucks and Hiace, have the same mode of body. The OEM or the vehicle maker will now maybe design their own and sell their engines or the components that they want and put in them. But the fact that the factory produces the body shell is just one of them.”

According to Dr. Doris Uzoka-Anite, Minister of Industry, Trade, and Investment, Nigeria’s automotive sector has the potential to be the backbone of the country’s economic recovery and offers a host of advantages, including the transfer of technology and the creation of jobs.

Uzoka-Anite emphasised the government’s acknowledgment of the automotive sector as a crucial pillar for economic development and recovery. She was accompanied by Olumuyiwa Ajayi-Ade, deputy director of the Industrial Development Department.

With the national brand news following in her closing remarks, Uzoka-Anite emphasised the labor-intensive nature of the automotive sector and its potential to generate thousands of jobs throughout the value chain, greatly lowering unemployment and offering sustainable livelihoods. She also emphasised the significance of teamwork in realising the sector’s full potential.

The local brand news holds that if the crucial action is not taken to revitalise Nigeria’s auto sector, it will eventually collapse, as previously cautioned by Joseph Osanipin, Director-General of the National Automotive Design and Development Council (NADDC).

He used Morocco as an example, which declared in its 2013 National Automotive Sector Development Plan (NAIDP) that Nigeria had effectively expanded its auto sector from 23,000 units exported in 2013 to 460,000 units at present.

Nigeria, on the other hand, has not improved; rather than exporting automobiles, it has continued to import them, regressing from Semi Knocked Down (SKD) to Dismembered Knocked Down (DKD).

To boost Nigeria’s economy through the auto industry, he urged stakeholders to collaborate and emphasised that the industry cannot afford to remain still as technology progresses.

SOURCE:https://brandspurng.com/2024/07/05/nigeria-has-the-capacity-to-build-1-15-million-vehicles-annually-naddc-naja/

The Manufacturers Association of Nigeria (MAN) has rescheduled its Nigeria Manufacturers Summit, originally set for June, to take place from July 2nd to 4th, 2024, at the prestigious State House Banquet Hall in Abuja.

MAN’s Director General, Segun Ajayi-Kadir, emphasized that the summit will commence daily at 9am and will be an expedient event for Nigeria’s manufacturing sector.

Following the story on the national news brand, the summit’s subject, “Rethinking Manufacturing,” according to Ajayi-Kadir, emphasises the necessity of creative solutions to increase productivity, sustainability, and competitiveness in Nigeria’s manufacturing sector.

The summit will include in-depth talks on how to leverage technology, improve supply chain resilience, remove major obstacles impeding the sector’s performance, and create a supportive business environment to promote sectoral growth. Along with delegates from government ministries, international organisations, businesses, specialists, and manufacturers from a range of industries, President Bola Ahmed Tinubu, GCFR, will be the summit’s Special Guest of Honour.

At the summit, there will be five main areas of focus for key discussions: growth promotion, productivity and competitiveness enhancement, energy security and infrastructure development, macroeconomic environment improvement and ease of doing business, enhanced ESG considerations, local content development and patronage of products made locally, and leveraging regional and continental trade for export growth.

Continuing, engaging focus groups featuring top government officials, CEOs, authorities in the industry, and thought leaders from the manufacturing sector will be a feature of the Nigeria Manufacturers Summit in 2024. Presentations on performance, best practices, and trends in manufacturing will be featured, along with networking opportunities and displays of cutting-edge Nigerian-made goods, technology, and solutions.

However, key stakeholders, professionals, and enthusiasts in the manufacturing sector are the only ones allowed to attend the summit by invitation only. The National Institute for Policy and Strategic Studies (NIPSS), Ernst and Young (EY), Federal Ministry of Industry, Trade and Investment (FMITI), the Presidency, and MAN are collaborating to create a conducive atmosphere for Nigeria’s manufacturing industry. As such, the summit serves as a crucial forum for the advancement of various sectors.

SOURCE:https://brandspurng.com/2024/07/01/man-discloses-new-date-for-nigeria-manufacturers-summit-2024/

MTN Foundation’s Executive Director, Odunayo Sanya, has urged all Nigerians to participate in the Anti-Substance Abuse Programme’s (ASAP) campaign against drug misuse. The Foundation has organised advocacy walks in three Nigerian cities; Port Harcourt, Lagos, and Abuja, to spread the word about substance misuse in the country and protect the welfare of young people.


With the goal of lowering the percentage of young Nigerians, aged 15 to 25, who abuse drugs for the first time, MTN ASAP has developed into a multi-stakeholder, sector-specific behaviour change programme.

The plan, which includes a stakeholder conference, advocacy walks, and a variety of other events, was further explained by Odunayo Sanya.



She said, “The core message of our Anti-Substance Abuse campaign #ASAP at the MTN Foundation is that ‘it is everyone’s fight, it is my fight, your fight and indeed our fight because their high is our low.’ The singular objective of the #ASAP campaign is to reduce the rate of first-time abuse amongst youths aged 10-25 years.

“According to the UNODC, substance abuse will increase by 40% in Africa by 2030. Nigeria is expected to represent a chunk of the 40% due to its population and large youth demography. And so, at the MTN Nigeria Foundation, we refuse to be onlookers, our sleeves are rolled up and we are lending our voice to this campaign.

“This year, in partnership with the #NDLEA, UNODC and other Civil Society Organizations, our advocacy walk took place in Rivers, Lagos and Abuja. Every first step signified our resolve to fight substance abuse and we dedicated every last step as a prayer of strength for those in the contraption of substance abuse. The stakeholder conference in Lagos was quite enlightening.

“Our target is to reach 87,000 students and 1,440 teachers with the #ASAP message in 2024. Our clarion call is that you join us in your corner by being a light to the young ones,” Sanya added.

Following the national news brand, the goal of MTN ASAP is clearly aligned with this year’s World Drug Day theme, “The evidence is clear: invest in prevention.” It emphasises how crucial it is to have an evidence-based, scientific strategy that puts prevention and treatment first. The international drug problem is a complex issue that affects millions of people’s lives. The adoption of an evidence-based, scientific strategy that places a priority on prevention and treatment is essential to tackling this epidemic.

SOURCE:https://brandspurng.com/2024/06/29/director-mtn-foundation-urges-nigerians-participation-in-the-anti-substance-abuse-programme/

Ebehijie Juliet Momoh, a former Senior Vice President of Mastercard, has been appointed as Managing Director and CEO of AfriGOPay Financial Services Limited (AFSL), a subsidiary of the Nigeria Inter-Bank Settlement System (NIBSS).


Ugo Obasi was not left out as he was named the Card Company’s Chief Operating Officer (COO) by NIBSS.

In the objective to change the payment environment and enhance the financial experience for businesses and consumers throughout Nigeria, Africa, and beyond, the appointments, according to a statement from NIBSS, represent a major step forward.



NIBSS, reveals that Mrs Momoh has over 30 years of significant experience in the financial services sector, which she brings to her crucial position as MD/CEO.


Based on their profiles, as disclosed by NIBSS, Momoh started her career at Guaranty Trust Bank (GTB), and most recently, she was Senior Vice President and Country Head, West Africa at Mastercard. She has also held strategic leadership positions at First City Monument Bank, Standard Chartered Bank, Diamond Bank Plc (now Access Bank Plc), and GTB.

It stated, “In her new role, Mrs. Momoh will lead the development, operations, and acceptance of the AfriGO Card.”

Continuing, to satisfy the wide range of demands of the public, the card scheme is intended to provide a smooth, safe, and effective payment method. With the help of the AfriGO Card Scheme, Nigeria will be able to lead the digital payment revolution by expediting transactions, cutting expenses, and improving the user experience overall.

While Obasi, brings more than two decades of outstanding leadership expertise in banking, IT, and payments throughout West Africa to his new role as COO of AfriGOPay Financial Services Limited.

He had important positions in Unity Bank Plc, Ingenico, and other card schemes before to joining AFSL. He was the Director of Business Development and Bank Partnerships at Ceviant Payments. Installing revolutionary payment systems across the region has made his profession stand out.

It further reveals, “As COO, Obasi will drive operational excellence and innovation, overseeing the development and implementation of strategic initiatives to enhance the efficiency, security, and user experience of the AfriGO Card.”

Pivotal Information

AfriGo, Nigeria’s first national payment card, was introduced by the Central Bank of Nigeria (CBN) and NIBSS in January of last year.

They claim that by obtaining an AfriGO card, Nigeria joined nations that already have local cards, such as China, Russia, Turkey, and India.

Although they would provide Nigerians more options, they pointed out that the functioning of the local cards would not prevent the usage of the current international cards.

AfriGo was recently designated by the National Identity Management Commission (NIMC) as the supplier of the new General Multipurpose Card (GMPC), which will be given to Nigerian citizens.

Since AfriGo’s founding more than a year ago, the NIMC payment card is the company’s first significant undertaking.

SOURCE:https://brandspurng.com/2024/06/26/nibss-afrigo-appoints-former-mastercards-vp-as-new-md-ugo-obasi-as-coo/

Imagine a world where your smartphone isn’t just a device, but a personal assistant, creative studio, and productivity powerhouse all in one. By collaborating with Google, Motorola has turned this vision a reality by bringing AI-driven experiences and convenient features to the new razr family.

For the first time, razr users can access Gemini¹ directly from the external display. Google’s Gemini app is a personal AI assistant to supercharge your creativity and productivity. Whether users need step-by-step instructions for a new project, help planning trips and activities, or assistance in writing thank-you notes or emails. Gemini can even help brainstorm ideas for enhancing daily life and seamlessly access information from Google apps and services like Maps, YouTube, Flights, Gmail, and Drive. Gemini is always there to provide support.

Plus, razr users will receive Gemini Advanced for 3 months with access to Google’s most capable AI models, at no extra cost. They’ll also get 2 TB of cloud storage and Gemini in their favorite Google apps like Gmail, Docs, and more—all included in the Google One AI Premium plan.

“We’re absolutely thrilled to bring the helpfulness of Gemini to Motorola’s new phones,” said Amar Subramanya, vice president of engineering at Google. “By integrating Gemini into the new Razr devices, we’re giving people direct access to their very own personal AI assistant – there to tackle complex tasks and collaborate on the go.”

Users can reimagine daily tasks – like texting – with a few unique features that are built into Google Messages. Photomoji transforms their favorite photos into personalized emojis and stickers, adding a visual flair to messages. And with Magic Compose², users can receive suggested texting responses in various styles like Excited, Chill, Formal, and Short, enabling them to get creative with their messages.

“Innovation has always been at the core of Motorola’s DNA, and our collaboration with Google marks a significant milestone in redefining what a smartphone can truly be,” said Dan Dery, Head of Software Experiences & Internet Services at Motorola. “With the new razr family, we’re not just introducing a device; we’re unveiling a new era of seamless connectivity and unparalleled functionality where technology not only enhances but also enriches every aspect of our lives.”

To further improve the external display experience on the new razr devices, we’ve added access to Google Photos. This allows users to view, delete, favorite, or share photos or videos stored locally or in the cloud without opening their phone, making it easier to access memories and find photos quickly. Google Photos will soon offer Ask Photos, a new way to search photos with Gemini. Stay tuned for more information in the coming months.

When it’s time to edit these photos, users can open the new razr and use the latest AI-powered editing tools in Google Photos including Magic Editor, Magic Eraser, Photo Unblur, and more.

Motorola and Google’s partnership also introduces moto ai features enabled by Google Cloud, such as Moto Magic Canvas. This innovative tool lets users create stunning images by simply describing them with text prompts, turning imagination into reality. Users can also take advantage of features like Style Sync for an added layer of customization. Style Sync creates personalized device wallpaper options when a user uploads a photo of a pattern from their outfit or surroundings.

Beyond AI, Motorola and Google have also partnered to bring razr and Android users alike, a more precise, convenient way to track their valuables. Expanding the Motorola ecosystem, the new moto tag is Ultra Wideband compatible⁴ and helps users locate everyday items like keys, wallets, and luggage via Google’s Find My Device network.³

SOURCE:https://brandspurng.com/2024/06/26/motorola-brings-new-ai-driven-experiences-to-the-2024-razr-family-with-google/

Pyypl (pronounced “People”) – a pioneering fintech company in the Middle East and Africa (MEA) – announces its Principal Licence Membership and strategic framework agreement with Visa.


The partnership with Visa is a testament to Pyypl’s mission to democratise access to financial services, its innovative business model and the large market opportunity – as well as highlighting Visa’s trust in Pyypl to accelerate financial inclusion.

The Principal licence also enables Pyypl to issue virtual and physical prepaid Visa cards, through its accessible mobile application, directly to its hundreds of thousands of active users – elevating its users from cash, mobile money and being financially underserved to the world of digital payments.



The Strategic Framework Agreement further recognises the licence approval process in other markets that Pyypl is entering. With the support of local regulators, Pyypl is able to provide access to prepaid Visa cards in these markets, fast-tracking financial inclusion across the MEA region.


This marks the latest innovation in Pyypl’s transformational consumer offering and accelerates Pyypl’s international expansion by enabling, over time, the Company to offer prepaid Visa cards on a pan-regional basis.

The partnership is aligned with Visa’s growth and innovation strategy of enhancing access to capabilities for 850 million digital natives across MEA.

Antti Arponen, CEO and co-founder of Pyypl, commented:

“We are excited to announce our partnership with Visa. Our payments ecosystem has multiple benefits for Visa and will accelerate the provision of financial services to the vast population of underserved digital natives in the region. Working closely with Visa and local regulators in new markets, we are focused on growing Pyypl’s presence and contributing to advancing financial inclusion across the region.”

“We are delighted to welcome Pyypl to our mission of advancing financial inclusion,” says Hasan Kazmi, VP, head of strategic partnerships and ventures – CEMEA, Visa. “We believe in empowering underbanked consumers by providing them with innovative, secure payment solutions. This not only gives them access to the digital economy, but also helps them thrive in this increasingly digital age.”

Pyypl is one of the fastest growing fintechs in MEA, with an industry-leading management team with unrivalled experience in the region. Powered by 100% proprietary technology, unlocking breakthrough consumer capabilities and sustainable growth, Pyypl is now operational in multiple markets across Africa and the GCC.

Pyypl is succeeding in its mission to be the leading one-stop fintech ecosystem for consumers, seamlessly and across borders. Pyypl’s purpose-driven approach aims to offer transformational financial services to 850 million financially underserved smartphone users across Africa and the Middle East in a single app – via internationally accepted virtual and physical prepaid cards, instant domestic and international user-to-user transfers as well as remittances to 80 countries.

SOURCE:https://brandspurng.com/2024/06/24/visa-announces-its-principal-membership-and-trademark-licence-with-pyypl/

Sabi, the $1 billion GMV B2B e-commerce platform, has formed a new partnership with Nigerian agricultural companies Nectar Fresh Limited and Meadow Foods, with the support of the Nigerian government, to address ongoing supply chain and development challenges in Nigeria’s agricultural sector.


The Oyo State Aggregation Initiative intends to establish a consistent supply chain for a variety of premium crops, including 30,000 MT of cashew nuts and 10,000 MT of shea nuts. The alliance will generate jobs and economic growth in the small settlements of Saki, Otiki, and Agbugudu, as well as explore new areas of the Opara Forest. The project encompasses a massive 250,000-hectare forest and employs cutting-edge drone technology to assure complete exploration and sustainable resource management.This effort also ushers in a new era of responsible agricultural production, combining access, technology, and innovation to assure ongoing access to forest reserves while investing in and improving local communities. The three companies plan to invest more than ₦52 million in the coming year.

Under the leadership of Sabi, the partnership will make the required financial, operational, and infrastructure contributions to guarantee that partners and community members are well cared for.


A centralised warehouse in Saki will be established to provide high-quality storage for export-ready materials.


President and Co-founder of Sabi, Ademola Adesina, stated, “This initiative marks a significant step towards creating a more reliable and community-focused agricultural supply chain in Nigeria. By empowering small farmers and providing them with the resources and market access they need, we are fostering economic growth and community development in Oyo State.”


Meadow Foods, Acrosstrades’ local subsidiary, will play an important role in project planning and management, quality assurance, and technological integration on the ground. This logistical work is crucial at a time when Nigeria’s agriculture industry works to overcome supply chain gaps that are causing shortages.

According to Israel Omidosu, Meadow Foods and Acrosstrades’ Co-founder, “Maintaining high standards for processing and compliance is crucial for the success of this project.”

“We are excited to bring our expertise to the table and contribute to a more efficient and reliable supply chain for Oyo State’s agricultural products and Nigerian agricultural exports,” he added.

Nectar Fresh will work with Opara Forest community leaders to assure farmer access and crop development.

The community work will be essential to project success, especially in supporting a commercial environment that will make it easier for small farmers to thrive and compete. The Oyo State Aggregation Project will create job opportunities for at least 350 people by December.

Soji Ogundoyin, CEO Nectar Fresh stated, “We are committed to ensuring that small farmers have the support and access necessary to thrive.”

“Our engagement with community leaders will be key to the success of this project, and we look forward to working closely with them and to creating new avenues for commercialization and market access,” he added.

However, the local brand news discloses that Sabi was granted a project licence by Nigeria’s Ministry of Environment and Water last Friday, kicking off this transformative venture officially.

SOURCE:https://brandspurng.com/2024/06/22/sabi-forms-alliance-with-nectar-fresh-ltd-meadow-foods-to-boost-nigerias-agricultural-sector/

Global tech giant Samsung has announced plans to sponsor the 3rd Cycling Lagos, even as Stanbic IBTC Bank, Cway, Nutrify and others have confirmed their support for the event scheduled for June 29, 2024, at the Teslim Balogun Stadium, Surulere.


Speaking on the event in Lagos, Digital Marketing Manager, Samsung Electronics, West Africa, Michael Nwughala expressed the brand’s excitement in sponsoring the cycling event to showcase its Galaxy Fit3 watch, a fitness tracker designed to offer a range of health and activity tracking features in a sleek, wearable device.

“The Galaxy Fit3 aims to provide a comprehensive yet affordable fitness tracking solution for Nigerians looking to monitor and improve their health and fitness levels,” Nwughala said.



“The affordable device comes with various sensors to monitor physical activity, such as a heart rate monitor, accelerometer, and gyroscope. It can track steps, distance, calories burned, and sleep patterns. The Fit3 also supports multiple workout modes, allowing users to monitor specific activities like running, cycling, and swimming.”


Nwughala added that the device can typically receive notifications from a paired smartphone, including calls, messages, and app alerts.

He said it may also offer basic smartwatch functionalities such as controlling music playback and setting alarms.

Stanbic IBTC Bank is supporting the Children’s Edition of the event, which will be held simultaneously with the grand finale on June 29 at the Teslim Balogun Stadium. This is to showcase its Chess Account, specially designed for children to teach them about the importance of saving and managing money from an early age.

Nutrify; a global nutritional supplement and wellness brand aimed at impacting healthy lifestyle positively would also be at the event this year to excite Nigerians with some of its products.

Leading brand, Cway has promised to be on ground to refresh the event.

The 3rd Cycling Lagos, with the theme “Sustainable Healthcare,” is expected to drive conversations on the need to embrace a healthcare policy that is environmentally friendly and to develop a healthcare system that ensures the health needs of the current population are met without compromising environmental, economic, or social resources for future generations.

The annual cycling event, which kicked off with its Tour of Lagos on Saturday June 15, 2024 was designed to promote a healthy lifestyle in the country.

The Cycling Lagos event is also supported by the Lagos State Sports Commission, Lagos State Cycling Association and Nestle Nigeria Plc.

SOURCE:https://brandspurng.com/2024/06/23/samsung-stanbic-ibtc-bank-cway-others-back-3rd-cycling-lagos-holding-june-29/

Cosmos Trade Nigeria Limited has received congratulations from Mr. Babajide Sanwo-Olu, the Governor of Lagos State, on the official launch of Gelato and Coffee University in Lagos.


The Governor stated that the amazing institution is not only a milestone for Cosmos Trade but also a huge progress for Nigeria’s culinary and entrepreneurial environment. The Governor was represented at the ceremony by Mrs. Toke Benson-Awoyinka, the State Commissioner for Tourism, Arts, and Culture.

Furthermore, Sanwo-Olu asserted that the founding of Gelato and Coffee University is a visionary step forward and a testament to the commitment to diversifying the economy, promoting entrepreneurship, and nurturing talent in a world where culinary art is not just about nourishment but also about culture, innovation, and economic empowerment.”



He said, “Today, Cosmos take their mission a step further by creating an educational platform that will train, inspire, and empower the next generation of culinary artists and entrepreneurs. Cosmos Africa has distinguished itself as a reputable market leader within the industry.”


The Governor claims that the University is more than just a place for education; it is also a centre for invention and creativity, where skill and enthusiasm are combined, old methods are combined with new ones, and regional products are recognised internationally.


Adding, “The skills and knowledge imparted in the university will not only elevate the standards of Gelato and Coffee making in Nigeria but also create new opportunities for economic growth and employment.”

Mr. Tunji Olaniyi, the Managing Director of Cosmos Trade Nigeria and Founder of Gelato and Coffee University, stated that while the company initially sold equipment, the idea for the university was born out of the necessity to teach its clients how to run their businesses properly, follow food safety regulations, and make their products correctly. He emphasised that the company can only succeed when its clients succeed.

He claimed the University serves two main groups of students: those looking to acquire skills to increase their employability in the hospitality industry, and entrepreneurs who operate coffee shops.

However, he said that the company will keep responding to customer and market expectations, and he thanked the Lagos State Government for accepting the invitation to be a part of history.

SOURCE:https://brandspurng.com/2024/06/19/gov-sanwo-olu-congratulates-cosmos-trade-ng-over-grand-opening-of-gelato-and-coffee-university-in-lagos/

One of Jaiz Bank Plc’s dependable business partners in Bauchi State, Tiamin Rice Limited, has received money from the pioneer Non-Interest Bank in Nigeria to develop av 10,000-hectre irrigation farm.


The Central Bank of Nigeria’s (CBN) Private Sector-Led Accelerated Agricultural Development Scheme (P-AADS) and Jaiz Bank’s commercial funds worked together to provide the farm with funding, according to a statement from the bank.

This loan will allow the business to finance the purchase and installation of additional 600Mt/day processing gear and equipment in Bauchi, increasing its processing capacity from the current 320Mt/day to 920Mt/day.



During the farm inspection, Haruna Musa, the Managing Director/CEO of Jaiz Bank, gave a speech expressing pleasure with the facility’s performance and giving the farm management a responsibility to stick to the Bank’s commitments.


Continuing, he disclosed that the Bank had funded a number of agricultural initiatives that directly affect the lives of the general public, business communities, and the nation’s economy as a whole.

Alhaji Mohammed Mustapha Bintube, the chairman of the board of Jaiz Bank, also spoke during the event and reiterated the bank’s commitment to boosting the real sector of the economy, especially through agriculture.

Following the national news, Bintube recognised the multiplier effect of agricultural financing as a criticaly facilitator of the creation of jobs, the preservation of foreign exchange, and the nation’s overall food security.

“The Bank is willing to do more of such partnerships with reliable and committed investors like Tiamin, to grow the economy,” he said.

Aminu Ahmed, the Group Managing Director of Tiamin Rice Ltd., praised the bank’s management team for having faith in their ability to oversee the two projects during his remarks.

“The farm has commenced harvesting of about 800 hectares of rice plantation cultivated this dry season, and has started preparations for cultivation of about 2,000 hectares this wet season,” Ahmed said.

SOURCE:https://brandspurng.com/2024/06/12/tiamin-rice-ltd-receives-funds-to-develop-10000-hectres-irrigation-farm-from-jaiz-bank/

To reinforce their commitment to the advancement of healthcare services in Nigeria, Egbin Power Plc and Sahara Group Foundation have donated a fully-equipped Intensive Care Unit (ICU) to the General Hospital Ijede, Lagos.


The newly built 5-bed ICU will further increase capacity for critical patient care and advance emergency response capabilities in Lagos State.

While commissioning the facility, Egbin Power and Sahara Group Foundation emphasized that the initiative underscores their commitment to promoting access to quality critical healthcare services, in line with the Sustainable Development Goal (SDG) 3 which aims to “ensure healthy lives and promote well-being for people of all ages.”



Speaking during the handover ceremony, the CEO of Egbin Power, Mokhtar Bounour, emphasized that the donation was a testament to the company’s enduring commitment to the development of the host communities, noting that the ICU would significantly enhance the hospital’s capacity to provide critical care to those who need it most.

“At Egbin Power Plc, we believe that the strength of a community is reflected in the well-being of its people. As one of the largest power generation companies in Nigeria, we have always been committed to not only powering homes and industries but also to empowering lives. The impact of this donation will be far-reaching, improving emergency response, and strengthening overall healthcare delivery in the state.


“To the healthcare professionals who will be working in this ICU, we entrust this facility into your capable hands. Your dedication and expertise are the bedrock of the healthcare system. We are confident that you will provide exceptional care and restore hope to countless patients and their families.

“Our commitment to community development does not end here. At Egbin Power Plc, we will continue to seek out opportunities to contribute meaningfully to the society in which we operate. Whether through health, education, or environmental sustainability initiatives, our mission is to make a positive impact that resonates for generations to come,” Bounour said.

Director of Governance and Sustainability, Sahara Group Foundation, Ejiro Gray, noted that hitherto, access to critical healthcare services was not easily accessible to patients in the community due to the distance of the available ICU, thereby causing several avoidable losses of lives.

She said: “We don’t have a lot of this facility in Lagos State, and even in Nigeria. One can only imagine how many lives that must have been lost because we didn’t have this sort of facility for critical cases. The time and logistics it took to get critically ill patients to a healthcare facility that has an ICU was a challenge.

“We took a step further in establishing the ICU facility, equipping it with quality infrastructure and equipment to create a fully-fledged ICU in this part of the state. This has therefore brought critical care services closer to the people,” she explained.

Gray further reaffirmed the commitment of both Sahara Group Foundation and Egbin Power to fostering sustainability and building a resilient future.

Acting Chief Medical Director, General Hospital Ijede, Dr. Olumuyiwa Balogun-Oluwa, commended the collaboration of Sahara Group Foundation and Egbin Power Plc which gave birth to the donation of the ICU, noting the facility will serve people in Ikorodu community and Lagos State at large.

He said: “General Hospital Ijede has moved to the next level of healthcare, a level occupied by not many general hospitals in the state, that is, a hospital with an ICU. We are grateful to Sahara Group Foundation and Egbin Power.
“The commissioning today is a further step towards fulfilling the vision statement which is to be one of the best hospitals in the environment, and I believe we are very close to achieving it. The facility will be primarily used for the benefit of the Ikorodu community and Lagos State in general. We intend to get all our staff prepared and trained for the commencement of work,” Dr. Balogun-Oluwa explained.

Dignitaries at the occasion included Commissioner II, Lagos State Health Service Commission, Dr. Mobolaji Olukoya; Director, Medical Services, Lagos State Health Service Commission, Dr. Adegbite Olawale; Director of Nursing Services, Lagos State Health Service Commission, Dr. Adebukola Cole; Medical Director, General Hospital Ikorodu, Dr. Taiwo Hassan; Medical Director, General Hospital Agbowa, Dr. Femi Aletan and immediate past Chief Medical Director, General Hospital Ijede, Dr. Abimbola Okudero.

Others were Baale of Ipakan, High Chief Mustapha Lasisi; Prince Yussuf Bello, representing Egbin Kingdom as well as the Community Liaison Officers representing Ijede.

Among the Personal Corporate Social Responsibility (PCSR) programmes carried out by Egbin Power to promote quality health for residents in the host communities include, the 3-day annual medical outreach designed to cover cardiovascular, arthritis, dental and diabetes screening. The participants at the medical outreach are provided free quality medications after careful examinations by qualified medical practitioners.

In addition to this, Egbin supplies free uninterrupted electricity to General Hospital Ijede, delivers free hospital-grade oxygen to hospitals within Ikorodu, and quarterly donates medications that are administered free of charge to patients.

These series of interventions highlight the company’s efforts to bolster healthcare infrastructure in the communities, thereby contributing to the attainment of SDG 3.

SOURCE;https://brandspurng.com/2024/06/12/egbin-power-sahara-group-foundation-donate-icu-to-boost-critical-care-in-lagos/

CEO Tim Cook tells Worldwide Developers Conference AI features are the ‘next big step for Apple’.

Apple has revealed a slew of new artificial intelligence-powered features backed by a partnership with OpenAI, as the iPhone maker battles perceptions that it is falling behind in the race to capitalise on the technology.

Apple executives including CEO Tim Cook unveiled “Apple Intelligence” on Monday during a nearly two-hour-long presentation at the company’s annual Worldwide Developers Conference in Cupertino, California.

“All of this goes beyond artificial intelligence, it’s personal intelligence, and it is the next big step for Apple,” CEO Tim Cook said.

The upgrades include an overhaul of the virtual assistant Siri, which will be capable of hundreds of more tasks with the help of ChatGPT.

Apple users will also be able to create their own emojis based on language prompts and generate summaries of emails in the mailbox via the tech giant’s in-house technology.

Apple signalled that the company would differentiate itself from rivals Microsoft and Google by putting privacy “at the core” of AI, which is known for hoovering vast amounts of data.

Apple’s senior vice president of software engineering, Craig Federighi, said that “Apple Intelligence” puts AI models “right at the core of your iPhone, iPad and Mac” and “protects your privacy at every step”.

The upgrades will be available for free in Apple’s iOS 18 operating system, due for release later this year, although the full suite of features will only work on more recent models of the iPhone, iPad and Macbook.

OpenAI CEO Sam Altman said in a social media post that he was “very happy” to be partnering with Apple to integrate ChatGPT into its products.

But billionaire Elon Musk, the founder of OpenAI rival xAI, blasted the partnership, claiming Apple could not account for user data once it was shared with OpenAI and was “selling you down the river”.

“That is an unacceptable security violation,” Musk, who leads the electric vehicle manufacturer Tesla and rocket company SpaceX, said in a post on X.

“And visitors will have to check their Apple devices at the door, where they will be stored in a Faraday cage.”

Apple, which has long avoided the term “artificial intelligence”, has been under mounting pressure to show that it is keeping pace with rivals Microsoft and Google in the competition to roll out AI.

Investors, however, appeared to be unimpressed with Monday’s announcements, with shares of Apple down by nearly 2 percent.

SOURCE:https://brandspurng.com/2024/06/11/apple-unveils-long-awaited-ai-strategy-partnership-with-openai-at-wwdc/

Xiaomi has officially unveiled the Redmi 13. This new iteration in the Redmi series boasts some significant upgrades, most notably the inclusion of a powerful 108MP main camera.


REDMI 13 IS THE FIRST PHONE IN THE SERIES WITH A 108MP CAMERA
The Redmi 13 marks a turning point for the series, being the first phone to sport a whopping 108MP main sensor. This sensor, based on the Samsung ISOCELL HM6, boasts a large 1/1.67″ size. It also utilizes 9-in-1 pixel binning technology. This not only enhances low-light performance but also enables 3x in-sensor zoom. So, you can expect detailed captures.

YOU ALSO GET IMPROVED BATTERY CHARGING AND SELFIES
Another key improvement in the Redmi 13 is the significant upgrade in battery charging speed. The phone now supports 33W fast charging, double the 18W of its predecessor, the Redmi 12. This translates to a full charge in only 62 minutes, compared to the Redmi 12’s double charging time in our tests. The battery capacity itself remains at a generous 5,030mAh.

For selfie enthusiasts, the Redmi 13 offers a bump in resolution as well. The front camera also sees an upgrade. This phone has a 13MP selfie shooter, replacing the 8MP unit found on the Redmi 12.


DISPLAY AND PERFORMANCE OF REDMI 13
The Redmi 13 features a familiar 6.79″ LCD display with FHD+ resolution. It retains the smooth 90Hz refresh rate of its predecessor, ensuring a smooth user experience. The display boasts a peak brightness of 550 nits and utilizes DC dimming for comfortable viewing. While Xiaomi hasn’t mentioned the Gorilla Glass version, the display has a layer of Corning’s Gorilla Glass nonetheless.

Under the hood, the Redmi 13 packs the MediaTek Helio G91 processor. This chipset is similar to the Helio G88 found in the Redmi 12. The crucial difference is the support for 108MP cameras. This allows the Redmi 13 to make the most out of the powerful main sensor. To compare, the Redmi 12 which maxed out at 64MP and was paired with a 50MP camera.

STORAGE, EXPANDABILITY, AND MORE
The Redmi 13 comes in three storage configurations: 6GB/128GB, 8GB/128GB, and 8GB/256GB. The base model starts at an affordable $180, with a slight price increase expected in European markets. Color options include Midnight Black, Sandy Gold, Pearl Pink, and Ocean Blue.

Storage flexibility is further enhanced by the inclusion of a microSD card slot that can accommodate cards up to a massive 1TB. Additionally, the phone offers virtual RAM expansion technology. This can boost onboard RAM by up to 16GB for smoother multitasking. Music lovers will also appreciate the presence of a beloved feature – a 3.5mm headphone jack.

Besides, the Redmi 13 retains the same IP53 dust and water resistance rating as its predecessor. It comes in slightly thicker (8.3mm) and heavier (205g) compared to the Redmi 12 (8.2mm and 199g).

A PROPER UPGRADE FROM THE PREDECESSOR
The Redmi 13 represents a proper leap forward for the series. With its powerful 108MP camera, faster charging, improved selfie capabilities, and a capable processor, this new phone offers excellent value for budget-conscious users. If you prioritize camera performance and a long-lasting battery, it might be the right smartphone for you.

For more Picture news about the Redmi 13.

SOURCE:https://brandspurng.com/2024/06/07/xiaomi-officially-unveils-redmi-13-with-108mp-camera-and-faster-charging/

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The Federal Competition and Consumer Protection Commission (FCCPC) has announced the debut of a ground-breaking television series intended at further restricting kids’ access to tobacco products, in the wake of the campaign’s successful launch. The series is called “Don’t Burn Their Future.”


The “Faith & Fortune” television series further affirms the Commission’s steadfast dedication to carrying out the NTCA’s requirements and preserving the health and wellbeing of young people throughout Nigeria. On Saturday, June 1, 2024, at 6 p.m., the TV series will premiere on DSTV Showcase Channel 151. The captivating 13-episode drama series with a gripping plot will air every Saturday at 6:00 p.m. and every Tuesday at 1:30 p.m.

According to Dr. Adamu Abdullahi, the FCCPC’s Ag. Executive Vice Chairman, “The FCCPC is committed to protecting our nation’s youths from the dangers of tobacco addiction, as mandated by the NTCA.”

“With this TV series, we aim to reach young people and older people who have a reasonable amount of influence on their young ones about the health risks associated with tobacco use and empower them to make healthy choices.” He went on, stressing the FCCPC’s responsibility for consumer protection.


The commission acknowledges that the use of tobacco by children is a serious public health concern and that creative solutions must be put in place quickly to address this urgent problem. The FCCPC wants to use the power of television to reach a wider audience and have meaningful conversations about the risks associated with underage tobacco use with viewers of all ages.


The TV show is imaginatively crafted to appeal to teens and young adults, and it does it with a cast of exceptional actors who deliver outstanding performances. The show will cover important topics such how addictive tobacco products are, how using tobacco products can have a detrimental impact on one’s health, and how to fight peer pressure to use tobacco products.

An important step has been taken in the FCCPC’s campaign to raise a generation free of tobacco use with the launch of this new TV show. The commission wants to empower people to make educated decisions about tobacco use by utilising the power of narrative and the media.

The series will provide information and support for people in need of help, while also shedding awareness on the detrimental consequences of tobacco use on adolescent bodies and minds through gripping storytelling, real-life testimonies, and expert insights. Programmes like the TV series produced by the FCCPC are essential in influencing public opinion and encouraging changes in tobacco-related behaviour. These initiatives support the overarching objective of lowering tobacco-related harm and creating healthier communities by increasing awareness and encouraging discussion. The FCCPC calls on people, families, schools, and legislators to work together to spread the word about the risks associated with tobacco use and keep a new generation from developing an addiction to the drug.

The FCCPC currently repeats its message to prevent minors from obtaining or using tobacco products through radio advertisements, TV commercials, and out-of-home advertisements. Additionally, the Commission established a toll-free number, 0800-000-2121, which Nigerians can use to report abuse, speak with an agent, or, in the event that they need assistance, speak with a counsellor.

The FCCPC’s commitment to tackling urgent public health issues and bringing about positive change for future generations is demonstrated by the debut of a TV series, which coincides with the commission’s ongoing efforts to safeguard consumers and advance fair competition.

SOURCE:https://brandspurng.com/2024/06/06/fccpc-starts-up-tv-series-to-kick-against-abuse-of-tobacco-products/

The primary investor in Eko Distribution Company, West electricity and Gas Ltd., is considering selling its stock in the electricity distribution company.


The local news brand exclusively got information revealing that the company is considering a capital raise and has contacted advisers and fundraisers to expedite the sale. According to sources, the corporation wants to sell its equity for $350 million.

According to reports, WPG spent $135 million to purchase 60% of the distribution company’s key assets from the government in 2013 when the power industry was privatised. The remaining 40% of the distribution company’s equity is owned by the government.



One of the eleven distribution firms that the federal government has licenced, Eko Disco serves up to eight million people in the Lagos South franchise area.


Leading the industry in both loss reduction and remittances to the market, the power distribution firm has been one of the top performers in the industry. One of the lowest in the business, the corporation recently reported an all-time low aggregate technical commercial and collection loss of roughly 10.22% in the fourth quarter of 2023.

The company stated that it collected N177.5 billion in income and billed 3,448 GWh of energy in 2023, according to data from the National Bureau of Statistics. According to regulatory data, Eko Disco gets paid roughly 85% of its invoiced income.

What they’re saying Our sources tell us that the company is planning to sell off some of its equity as part of a recapitalization strategy in front of numerous ongoing reforms in the sector, which many think have the potential to significantly impact the industry moving forward.

A source disclosed that “They are planning to sell about 60% of the company to investors for about $350 million as part of the strategy to expand the firm and improve its liquidity.”

WPG was contacted by regional and national news outlets regarding the sale, but the company did not provide an affirmative response. But in a statement, the business said that it constantly looks into making smart investments in network upgrades to guarantee a steady supply of electricity for consumers.

The statement disclosed that “The Board and Management of WPG are continually evaluating potential investors and strategic partnerships that align with our vision for EKEDC’s long-term growth and sustainability. We are committed to pursuing initiatives that generate positive returns for our investors, EKEDC employees, and the communities it serves.”

Nonetheless, a second senior source within the organisation, who opted to remain anonymous due to not being permitted to address the media directly, attested to the fact that the organisation is actively looking for investors who share their vision for Eko Disco.

“Yes, we are looking for investors in our stake in Eko DisCo and we are currently speaking to several interested parties. Despite the challenges in the distribution end of the sector, Eko DisCo is one of the leading performers in the sector and has always met its remittance obligations.”

Possible Buyers and Investors

There is significant interest from local players, especially in the renewable energy space, who may view this as an opportunity to gain entry into a crucial value chain and expand their reach and influence in the industry, according to another source with knowledge of the deal who spoke to the local and national news brands.

The distribution franchise region of Eko DisCo is seen as ideal for players in renewable energy because of the numerous residential and commercial real estate projects that have occurred recently.

Power generation businesses (GENCOs), who see this as a chance for synergy in a value chain that is closer to customers and gives them a clear line of sight into cash collection, may also be interested. In general, GENCOs have better financial standing than DisCos.

The source emphasised the strategic alignment between the target company’s industry focus and the potential acquirers. “The likely investors are the players in GENCOs, given their substantial financial resources and profound understanding of the market,” he said.

In a comparable deal, Transcorp Power bought a 60% equity stake in one of Nigeria’s 11 energy distribution firms from the Abuja energy Distribution Company (AEDC). Other owners of less expensive hydropower-producing businesses have also gained traction in the power distribution market by taking advantage of the eligibility requirements that let generating businesses sell directly to major manufacturing maximum-demand clients. According to sources, they are reportedly actively searching the industry for possible acquisition targets.

Recent changes necessitating a capital rise Stakeholders and energy experts see the impending energy sector upheaval as a clear indication of the urgent need for more capital investment to spur growth.

An energy economist and legal expert named Ayodele Oni agrees. If the rumoured takeover comes to pass, he says, it might be advantageous for the industry. Specifically, he sees an improvement in the company’s financial performance as a possible result.

He stated, “It is important to have good corporate governance structures, more operational efficiencies and financing to function properly as a DisCo. Hence, where the sale of the interest would improve the performance and financial capacity of the DisCo, it can yield positive results for the sector.”

Ifeoma Malo, CEO of Clean Energy Technology, interprets the possible acquisition as a hint that DisCos will become more efficient. She points out that these businesses, whether they were owned by the government or the private sector, have never been run effectively in the past.

Malo makes the welcome suggestion that recapitalization to increase the DisCo’s financial capabilities could result in an extended lifespan and operating efficiency.

Continuing, she said “At every point in time, energy companies are looking for more and more investment. Most of them are recapitalized to attract more financial flows to extend their operations and lifespan. Almost every DisCo I know is looking for new investors.

“Power and electricity are the most fundamental things holding back Nigeria’s development, and I think it’s an attractive point of investment for anybody who is looking to invest in a country like Nigeria. The potential for return eventually is great.

“The only thing is that we need patient capital. It’s not an investment that you will get a yield in five or seven years. We are looking at people who can do at least ten to fifteen years. That is the kind of investment we are talking about,” she added.

However, Eko Disco is estimated to be worth $583 million, or N875 billion, at $350 million. Geregu Power and Transcorp Power, the only two listed firms on the Nigerian Exchange, are valued at N400 billion and N1 trillion, respectively, on the market.

SOURCE:https://brandspurng.com/2024/06/04/eko-disco-to-acquire-west-power-and-gas-stake-for-350-million-fund-raiser/

In a monumental stride towards bolstering Nigeria’s renewable energy sector, the Rural Electrification Agency (REA) and EM-ONE Energy Solutions (EM-ONE) have inked a Memorandum of Understanding (MoU) to pioneer the development and deployment of 350 megawatts of renewable energy projects across the nation.

The strategic partnership, sealed at the Alliance for Rural Electrification (ARE) Energy Access Investment Forum 2024 in Lagos, signifies a concerted effort to fortify Nigeria’s sustainable development objectives, aligning with the Federal Government’s aspirations for carbon neutrality by 2060.

Backed by a substantial investment of $750 million from the World Bank’s Distributed Access to Renewable Energy Scale-Up (DARES) Project, to be administered by REA, the collaboration aims to amplify Nigeria’s generation capacity. EM-ONE will spearhead initiatives including interconnected mini-grids (IMGs), healthcare facility electrification, e-mobility, smart grids, virtual power plants (VPP), and capacity building for renewable energy across the nation.

Central to the partnership are interconnected mini-grids, smart grid technologies, and virtual power plants (VPP), serving as pivotal components for Nigeria’s grid modernization efforts. These IMGs facilitate the interconnection of distributed energy resources (DREs), offering a cost-efficient solution to bridge the energy access gap. Leveraging smart grid technologies and VPPs, the collaboration seeks to enhance grid visibility, optimize power flows, and scale up renewable energy integration.

EM-ONE is set to deploy up to 200 MW of renewable energy capacity at commercial and industrial (C&I) sites with large surrounding communities and an additional 150 MW for health facility electrification. Moreover, the partnership will spearhead demonstration events, pilot projects, and programs to incentivize electric vehicle adoption, fostering sustainable transport in Nigeria while nurturing local capacity in renewable energy.

The MoU, signed by REA’s CEO and Managing Director, Abba Abubakar Aliyu, and EM-ONE’s Director of Sustainable Energy, Adnan Rashid, signals a momentous leap towards transforming Nigeria’s power sector with renewable energy. Abubakar Aliyu expressed his enthusiasm for the collaboration, highlighting its potential to extend clean and reliable energy access to all Nigerians, especially those in underserved communities, while propelling the nation closer to achieving carbon neutrality.

EM-ONE’s CEO, Mir Islam, echoed the sentiment, emphasizing the partnership’s significance in advancing Nigeria’s renewable energy sector. With EM-ONE’s technical prowess complementing REA’s strategic vision, the alliance is poised to make a formidable impact on Nigeria’s sustainable development goals.

The partnership also sees EM-ONE joining the ranks of Renewable Energy Service Companies (RESCOs), an initiative under REA aimed at bolstering utility-scale portfolios ranging from 50 to 100 MW, thereby complementing the efforts of Distribution Companies (DISCOs).

The REA-EM-ONE collaboration stands as a testament to Nigeria’s commitment to a greener, more sustainable energy future, heralding a new era of innovation and progress in the nation’s power sector.

SOURCE:https://brandspurng.com/2024/06/03/rea-and-em-one-partner-to-bring-350mw-renewable-energy-to-nigeria/

Over the course of its last five years of business, Kuda Technologies claims to have raised close to $100 million in capital.


The CEO of the company mentioned that Kuda Technologies is based in the UK and aims to increase accessibility to money. In the meantime, the CBN has declared that it will soon change its mind and permit mobile money providers, such as Kuda.

Kuda Technologies’ CEO, Babs Ogundeyi, disclosed on Wednesday, May 29, that the business had raised over $100 million in funding over the previous five years.



The information was disclosed by Ogundeyi at the GITEX Africa conference held in Morocco. “We have raised nearly $100 million since our August 2019 launch in Nigeria,” Ogundeyi stated during the panel discussion “Beyond the Starting Lane: Navigating Advanced Funding.”


Speaking further, he emphasised how international investors’ lack of familiarity with the local ecosystem makes it difficult for African companies to seek outside funding. Given that the majority of funding originates from Western investors, he pointed out that Kuda Technologies has its headquarters in the UK to make finance more accessible. “We are headquartered in the UK, but we are Africa-focused, and there is a reason why we are headquartered in the UK. It’s very much related to access to funding. The capital comes primarily from the west. It’s easier to attract capital in those jurisdictions,” he revealed.


Adding, he underlined that getting finance is a difficult process, particularly in Africa where there is a lack of confidence. CBN updates on the validity of account opening had previously revealed that the CBN had prohibited fintech companies from creating new client accounts because of anomalies in its Know Your Customer (KYC) guidelines.

The Central Bank of Nigeria (CBN) said in a recent report that it will soon change its mind and permit mobile money providers, including fintech companies OPay, Palmpay, Kuda Bank, and Moniepoint, to start taking new clients again in the coming months. This was revealed by CBN governor Olayemi Cardoso on Tuesday, May 21, 2024, at the conclusion of the apex bank’s 295th Monetary Policy Committee (MPC) in Abuja. Kuda breaks new record: Kuda Microfinance Bank is reportedly celebrating reaching a record-breaking 7 million clients overall.

Following the banking and finance news, since it launched in 2019, the Nigerian neo-banking app has said that its total transaction value has reached N55.8 trillion. Furthermore, it stated that it is dissecting numerous new packages for its clientele, encompassing new wage loans and additional offerings.

SOURCE:https://brandspurng.com/2024/06/01/neo-banking-app-kuda-reaches-a-total-of-n55-8trn-transaction-value/

Nigeria’s foremost brewing company, Nigerian Breweries Plc, has officially completed the acquisition of a majority stake (80%) in Distell Wines and Spirits Nigeria Limited (Distell Nigeria).


The completion of the transaction follows the approval of the South Africa Reserve Bank (SARB) for the acquisition by Nigerian Breweries Plc, of the shares of the South African entity, Distell International Limited (now known as Heineken Beverages Holdings Limited) in Distell Nigeria, as well as the import business of Distell International Limited in Nigeria.

According to the Managing Director, Nigerian Breweries Plc, Hans Essaadi, the acquisition and subsequent commencement of business operations align with the strategic objective of the brewery company to expand its current product offerings beyond beer to include wines, spirits, and flavored alcoholic beverages.



Essaadi, noting that the company remains unwavering in its commitment to cater to the diverse needs of consumers, said “This acquisition is part of efforts to provide access to a complementary multi-category portfolio of fast-growing brands of wines and spirits market segment and capture significant growth opportunities in the wines and spirits segment of the brewing industry. We are excited to have the process completed and can’t wait to see how this transforms our business”.


In his remarks, the Managing Director, Distell Nigeria, Mr. Steve Ighorimoto, stated that the acquisition is an exciting new chapter for the company as it would help increase the capacity necessary to achieve improved business performance.

“We are excited to be a part of Nigerian Breweries, as we share in the solid track record of growth, including a highly engaged, dynamic, experienced, and diverse team. These changes will strengthen the organization’s manufacturing, marketing, and distribution capabilities while ensuring sustainable growth and maximum value creation for all stakeholders,” he said.

Distell Nigeria is involved in the local production of wines and ciders under license from Heineken Beverages. With the acquisition, Nigerian Breweries will have access to both the local production and the importation of wines, spirits, and flavoured alcoholic beverages brands from South Africa, including Amarula Crèam Liquor, Nederburg, Drostdy-Hof, 4th Street, Bain’s Whiskey, Knight Whiskey, Scottish Leader Whiskey, Chamdor wine ranges, Hunters, and Savanna.

SOURCE:https://brandspurng.com/2024/06/02/nigerian-breweries-plc-completes-acquisition-of-distell-nigeria/

The Central Bank of Nigeria (CBN) has granted Greenwich Merchant Bank, a well-known supplier of upscale financial services in Nigeria, Approval-in-Principle (AIP) to convert to a Holding Company (HoldCo) structure.


At the bank’s Annual General Meeting (AGM), which was held in Lagos, Kayode Falowo, the chairman of the institution, made the statement. To be called “Greenwich Holdings Limited,” the Holding Company will be in charge of a variety of current financial services organisations, including Greenwich Merchant Bank Limited, Greenwich Asset Management Limited, Greenwich Securities Limited, and Greenwich Trustees Limited, in addition to suggested new financial services endeavours.

Kayode Falowo, the chairman of the institution, made the statement. To be called “Greenwich Holdings Limited,” the Holding Company will be in charge of a variety of current financial services organisations, including Greenwich Merchant Bank Limited, Greenwich Asset Management Limited, Greenwich Securities Limited, and Greenwich Trustees Limited, in addition to suggested new financial services endeavours. “We are committed to leveraging this structure to deliver superior financial products and services to our esteemed clientele,” he stated.

On the local brand news, the approval-in-principle to transition into a Holding Company, according to Falowo, was a turning point in the bank’s development towards increased competitiveness and market leadership, securing its standing as the go-to organisation for providing comprehensive financial services that are customised to meet the changing needs of its clientele.

According to Falowo, the HoldCo AIP is a strategic milestone that will allow the bank to optimise its operations and pursue new growth opportunities, rather than merely a regulatory green light.

“We are committed to leveraging this structure to deliver superior financial products and services to our esteemed clientele, and continue to contribute to Nigeria’s economic development,” he said.

Benson Ogundeji, the acting MD/CEO of Greenwich Merchant Bank, reiterated the Chairman’s words, expressing hope for the bank’s future and pointing to the HoldCo approval-in-principle as evidence of the bank’s tenacity and strategic vision. He said, “This regulatory nod reaffirms confidence in the bank’s ability to adapt and thrive in a dynamic financial landscape, positioning us for sustained growth and value creation for our stakeholders.”

SOURCE:https://brandspurng.com/2024/06/03/cbn-admonished-greenwich-merchant-bank-to-transit-to-a-holding-company/

Over the Memorial Day weekend, Elon Musk reclaimed his position as the richest person in the world by revealing that his new artificial intelligence startup, xAI, had raised $6 billion at a pre-money valuation of $18 billion.


Musk is now the richest person in the world, with a net worth of $209.2 billion, exceeding Bernard Arnault’s $199.3 billion. As of May 30, 2024, Arnault is ranked third, and Jeff Bezos is in second place with an estimated $199.9 billion.

After a recent agreement involving investors from his $44 billion acquisition of Twitter (now renamed), Forbes values Elon Musk’s 60% stake in xAI at $14.4 billion.





Musk’s wealth is mostly derived from his nearly 12% ownership of Tesla and 42% of SpaceX, which were both worth about $75 billion as of Tuesday’s market close.


Furthermore, according to Forbes, Musk’s 74% stake in his social media company is now only worth $7 billion, which is almost 70% less than what it was originally valued at when it was purchased in 2022.


Musk and Arnault are still fighting for the top spot in the world because of Tesla’s erratic stock price and the growing value of SpaceX.

A Delaware judge ruled in late January that Musk’s 2018 performance-based Tesla stock options, worth close to $50 billion, were void due to unfair award procedures.



On June 13, Tesla shareholders will decide whether to approve Musk’s options again, which Forbes cut by 50% following the decision. According to reports, SpaceX wants to be valued $200 billion, up from $180 billion in December of last year.



According to the Forbes Real Time Billionaire Index, here are the current top 10 billionaires as of May 30.



Elon Musk — $209.2 bn

Jeff Bezos — $199.9 bn

Bernard Arnault — $199.3 bn

Mark Zuckerberg — $166.4 bn

Larry Ellison — $153.2 bn

Larry Page — $145.5 bn

Sergey Brin — $139.4 bn

Warren Buffett — $133.0 bn

Bill Gates — $129.8 bn

Steve Ballmer — $126.5 bn

SOURCE:https://brandspurng.com/2024/05/31/elon-musk-regains-position-as-richest-person-in-the-world/

Guaranty Trust Bank (GTB) has been given permission by the Federal High Court in Lagos to temporarily assume control of Afex Commodities Exchange’s assets and finances in response to the latter’s N17,808,452,467.107 Central Bank of Nigeria (CBN) Anchor Borrowers’ Loan debt.


The bank applied on May 27 and was granted an interim Global Standing Instruction (GSI) injunctive relief by Justice Chukwujekwu Aneke. After considering an ex-parte motion submitted and moved by the bank’s attorney, Chief A.A. Aribisala (SAN), Ade Adedeji (SAN), together with A.O. Olaleye and M.A. Aribisala, the judge issued the ruling.

The debt consists of “N15,766,475,417.06 as amount outstanding and unpaid, as of April 17, on the loan facilities (with accrued interest) granted by plaintiff to defendant.



“Pre-judgement interest on the N15,766,475,417.06 at prevailing rediscount rate of 28 per cent yearly approved by CBN from April 18 when the plaintiff’s letter of demand dated April 17 was delivered to the defendant until judgment is delivered in this suit.


“Post-judgement interest on the N15,766,475,417.06” and “cost of recovery and incidental expenses in the sum of N2,041,977,050.047,” as revealed.

In the lawsuit FHC/L/CS/911/2024, GTBank is the only applicant or plaintiff; Afex is the defendant/respondent, and 27 commercial banks and money deposit institutions were identified as nominal respondents. In a 285-page affidavit submitted by its representative, Ifeoma Esemudje, the plaintiff said that the facility’s term was nine months, with the aim of financing smallholder farmers who were registered under the CBN Anchor Borrower’s initiative.

Known through banking and finance news, the loan’s maturity date was April 22, 2021, and the repayment was to come from the sale of the produced corn. However, the plaintiff claimed that the defendant broke the agreement.

The plaintiff requested temporary GSI injunctive relief from the court through its legal representatives. Launched in July 2020 by banks and the CBN, GSI gives a creditor bank the right, in the event that the debtor defaults, to recoup its debt from any and all accounts the debtor may have with other financial institutions.

Furthering, before GSI, even though their balances might have paid off their obligation, defaulting borrowers were nonetheless allowed to keep their accounts with other banks.

Recognising GTBank’s request, Judge Aneke directed the first through twenty-eight respondent banks to “Place a No Debit” on funds that were to the credit of Afex on the day the order was served.

SOURCE:https://brandspurng.com/2024/05/30/gtb-to-assume-control-of-afex-over-debt/

For the 2023 financial year, the United Bank for Africa (UBA) has reported a 143% increase in its gross revenue, which will reach N2.08 trillion, the bank’s highest level ever.


The bank also suggested a N2.80 kobo dividend per share to shareholders and reported a profit after tax of N607.69 billion.

Tony Elumelu, Chairman of the Board of Directors at UBA, disclosed these numbers last Friday at the bank’s 62nd Annual General Meeting (AGM).



Elumelu pointed out that the bank continued its deposit mobilization efforts, increasing total deposits from N8.99 trillion in 2022 to N17.36 trillion, a 93% increase.


“The bank also maintained a well-structured and diversified balance sheet, with shareholders’ funds and total assets reaching N2.03trn and N20.65trn, respectively,” the speaker stated.


The remarkable financial results were driven by a notable rise in net interest income, which resulted from a robust expansion of the loan portfolio, elevated net interest margins, and a noteworthy input from foreign exchange operations.

Furthermore, higher revenue and better profit margins helped FX operations.

Furthermore, the bank’s loan book increased from N3.44trn to N5.55trn, a 61% increase. As a result, the ratio of non-performing loans (NPLs) rose to 5.85%.

The bank’s Group Managing Director and CEO, Oliver Alawuba, emphasized that cost control was maintained.

“This result is suggestive of consistent business-as-usual costs, the influence of inflationary patterns, and intentional increases linked to planned strategic investments and the launch of new business endeavors,” the speaker stated.

“The Non-Performing Loans (NPL) ratio of 5.85 percent demonstrates the underlying asset quality’s fundamental strength, despite the unfavorable macroeconomic conditions.”

SOURCE:https://brandspurng.com/2024/05/27/uba-reports-n607-69bn-in-profit-on-over-n2-trn-in-revenue/

LVMH continues to reshuffle its executive leadership. The French luxury conglomerate announced in an internal note Monday that Pierre-Emmanuel Angeloglou is the new CEO of Fendi, effective 1 June. The executive is currently managing director of the LVMH Fashion Group, a role he’ll keep while leading Fendi. He succeeds Serge Brunschwig, who will be taking on new responsibilities within LVMH.


“Bernard Arnault, LVMH chairman and CEO, would like to thank Serge for his contribution as he has accompanied Fendi to a significant level of growth since 2018,” the note reads.

The appointment comes amidst ongoing changes among the upper ranks of LVMH Fashion Group, which includes Celine, Fendi and Loewe. On 1 February, Michael Burke became chairman and CEO of the Fashion Group, succeeding Sidney Toledano. In March, Angeloglou was appointed managing director of the LVMH Fashion Group, overseeing Fendi, Kenzo, Marc Jacobs, Pucci, Stella McCartney, Patou and Off-White. Sources say – and it’s been previously reported – that Toledano is now returning to the LVMH Fashion Group, though in what capacity is not yet known. Asked to comment, LVMH denies any change at the helm of the Fashion Group.



On the agenda, Givenchy has yet to appoint a creative director following the departure of Matthew Williams, while there are persistent rumors about upcoming changes at the creative helm of Celine.

Fendi is LVMH’s fourth largest fashion brand behind Louis Vuitton, Dior and Celine. (Celine overtook Fendi in terms of revenue in 2023, generating €2.6 billion compared to Fendi’s €2.44 billion, per HSBC estimates.) The Roman house recently said it will opt out of the couture calendar in June.


Before the LVMH Fashion Group, Angeloglou spent nearly five years at Louis Vuitton, most recently as executive vice president, strategic missions from 2022. He also spent 23 years at L’Oréal.

SOURCE:https://brandspurng.com/2024/05/28/fendi-appoints-new-ceo-amid-lvmh-exec-shuffle/

Stakeholders in the Nollywood industry have been admonished by the National Film and Video Censors Board (NFVCB), to ensure that films, and musical videos, among others, are free from depiction and glamorisation of pernicious contents like smoking tobacco, criminal acts, ritual killings, money rituals, among others.


On Tuesday, at the National Stakeholders’ Engagement on Smoke-Free Nollywood held in Enugu, Dr. Shaibu Husseini, The Executive Director of NFVCB, gave the directives.

On this latest entertainment news, he commended the Corporate Accountability and Public Participation Africa (CAPPA) for putting up the event as part of its corporate social responsibility in Nigeria’s creative industry.



He said that in the entertainment and creative industries, the film business plays a key role, adding that “we must continue to place the highest premium on the progress of the film industry.”


Husseini disclosed “We are facing an industry emergency requiring bold and ambitious actions from all parents, guardians, and stakeholders.”


Adding, he enjoined the stakeholders in the public and private sectors “to see the gathering as an important platform to forge strategic partnership in order to mobilise scarce funding and create innovative models to assist in educating/sensitizing mothers, youth and the general public to combat the hydra-headed menace in the form of unapproved and unclassified content.”

Earlier in a remark, the Executive Director of CAPPA, Akinbode Oluwafemi had stressed the need for stakeholders to work towards a Smoke-Free Nollywood.

Oluwefemi stated that “we are at a point where we must stop the globalization of smoking and instead promote a healthy lifestyle.

“There is a need to reverse the role movies and music videos play in painting smoking and tobacco use as a cool way of life.”

According to studies, smoking is still common in Nigerian films, despite the Tobacco Control Regulations 2019 and the NTC-Act, which forbid tobacco sponsorships, advertising, and promotion in motion pictures and other forms of entertainment.

The CAPPA boss commended the Executive Director of the National Film and Video Censors Board, Dr. Husseini, for taking the bold step to dialogue with stakeholders in the industry towards a Nigerian screen free of unhealthy promotion of smoking tobacco.

SOURCE:https://brandspurng.com/2024/05/23/stop-smoking-rituals-crimes-in-movies-nfvcb-warns-producers/

Deloitte and Basware have announced an alliance to enhance touchless invoice processing for global customers. The partnership will combine accounts payable (AP) expertise to accelerate automation and finance transformation.


E-invoicing is increasingly taking priority within CFO departments alongside e-reporting requirements from local governments or tax authorities. Accounting teams must comply with specific legislation when sending and receiving electronic invoices. The new legislation will replace paper processes and reporting as the EU and other regions trend towards a harmonized approach and centralized government databases to compare reported data.

The Deloitte and Basware alliance will focus on key challenges, opportunities, and regulatory requirements in the finance domain. It will bring together Basware’s strengths in AP automation, with Deloitte’s access to its network of finance, procurement and tax experts, to drive value for customers. The partnership will also deliver enterprises with the latest trends and best practices around finance transformation through the integration of AP automation services.

Finance teams in large enterprises that process and pay thousands of invoices per week often face challenges around late payments to suppliers, duplicate invoices and even fraudulent payments. As a result, according to an Ardent Partners’ Performance Benchmark, only 32% of invoices on average pass through finance teams without requiring manual intervention, compared to 89% through Basware’s AP automation platform. A completely touchless invoice process eliminates the need for AP staff to spend extensive time matching and approving invoices, freeing them up to deliver operational and financial insights.

The alliance between Deloitte and Basware will work on developing a joint go-to-market strategy to reach a wider audience, creating co-innovation opportunities to address evolving legislative e-invoicing requirements, and building a pool of certified Deloitte consultants trained on Basware solutions for project delivery.

Through the partnership, AP teams will have the potential to process invoices 80% faster, reducing the average invoice processing time from 10 days to less than one day.

Jason Kurtz, CEO at Basware, commented on the alliance:

“This is a significant milestone for Basware and Deloitte to accelerate touchless invoice processing. CFOs are constantly grappling with manual AP processes that slow down teams and impact bottom-line profits. It’s been exciting to collaborate with Deloitte over recent months and work towards a joint vision that helps companies save time and money when sending and receiving invoices, while reducing compliance risk. Together, our technology and leadership in the AP space will unlock new levels of touchless invoice processing.”

Arian Kaandorp, Director at Deloitte Consulting, also commented:

“Our clients are moving from automating task-specific processes to running autonomous finance operations. Partnering with Basware to combine our expertise in touchless invoice processing is an important step to increase the adoption of e-invoicing. Through our alliance, we aim to support our clients with the technology-enabled transformation of their AP process while meeting the rising legislative e-invoicing requirements.”

SOURCE:https://brandspurng.com/2024/05/21/deloitte-and-basware-form-alliance-to-transform-e-invoicing/

Amo Farm Sieberer Hatchery Limited celebrates its consumers on this year’s International Day of Families with a commitment to their well-being, providing nutritional protein that curbs stunting in children, malnutrition, and improved well-being.
The company which has made a remarkable impact in the agricultural growth of the country, supporting women empowerment initiatives nationwide, stated that its consumers are part of its topmost priority, hence its projects are tailored towards their development.

Its Group Managing Director, Dr. Ayoola Oduntan, avowed that the theme of the 2024 International Families Day, “Embracing Diversity, Strengthening Families,” reinforces the need for greater care within the family as basic units of society, and an opportunity to promote awareness of issues relating to families as well as appropriate action.

The Amo Farm boss pointed out that the company supports families across the country in maintaining their health with its nutritious poultry products, including its agro-innovation, the Noiler Bird, a good source of protein required for the human body.


Noiler is a dual-purpose bird that stems from several years of research and development. It is similar in looks and taste to the native chicken, but is resistant to diseases, and produces four times more eggs and three times more meat.

Its innovation and Amo Farm’s poverty reduction scheme have been extensively documented and reviewed in the prestigious Harvard Business Review publication, and through it, the company has empowered over 1.3 million rural households in the country, with emphasis on women, to boost their income as well as food security.

Recently, Amo Farm supported the launch of the South-west Renewed Hope Initiative (RHI) Women Agricultural Support Programme and Flag-off of the 2024 Ogun State Planting Season with 1,000 Noiler Birds, 100 Bags of 12.5 kg Amo Byng Grower Pellet and 100 packs of Divertamin, a combination of essential nutrients for the Noiler Birds, for 100 women each, as start-up packs for small agribusiness.

SOURCE:https://brandspurng.com/2024/05/19/amo-farm-marks-international-day-of-families-nourishes-with-agro-innovation-noiler/

The prestigious 12th annual Consumer News and Business Channel (CNBC) Disruptor 50 list, shows that Flutterwave, Africa’s highest-valued startup, has secured a spot on it.


Flutterwave formerly ranked 21st in 2021 on the CNBC Disruptor 50 list, up to 14th. The Lagos-based firm was founded in 2016 and has secured $475 million in funding. It processes payments in over 30 currencies across 40 countries and has expanded into India. Ranked 21st position in 2021, but now joins the ranks of OpenAI, Stripe, and Monzo, securing top 15 this year.

Africa has the world’s fastest-growing population, and because there isn’t much conventional infrastructure there, younger people are depending more and more on technology for everything from banking to entertainment and travel. Flutterwave is one of the firms that are utilizing technology to bridge the gaps.



The founder of this Wave-making company since 2016, is CEO Olugbenga “GB” Agboola and its headquarters is situated in Lagos, Nigeria. The $475 million was secured in funding from firms such as Tiger Global Management and Salesforce Ventures and is currently valued at $3.2 billion.

Fintech valuations have declined, but Flutterwave is apparently proceeding with its plans for an initial public offering (IPO). The business has hinted that it may sell its stakes in Nigeria and New York.

The fintech now processes payment in different currencies. The company expanded into India in September, partnering with IndusInd Bank to make remittances between India and Africa more efficient. The company works with companies such as Alibaba’s Alipay, Uber, Netflix and others.

The late 2023, the oorganization also received 13 money transmission licenses in the U.S., expanding its reach to 29 states.

“Our mission is to connect Africa to the world and the world to Africa by simplifying payments for endless possibilities,” said Olugbenga Agboola, in a press release. “These licenses move us one step closer to our vision and we will continue to expand this feat to ensure coverage for all states in the U.S. and beyond.”

Flutterwave has been subject to regulatory examination, as the financial services sector is subject to strict regulations. In 2022, Kenyan authorities began looking into cases of money laundering. The central bank declared that Flutterwave lacked a license to provide payment services in Kenya, and the Kenyan High Court blocked bank accounts. November saw the corporation declared innocent of any wrongdoing.

SOURCE:https://brandspurng.com/2024/05/16/flutterwave-joins-openai-stripe-secures-top-chart-on-cbncs-50-disruptor-list/

United Nations (UN) in Nigeria, led by the Resident Coordinator, Assistant Secretary-General Mohamed Malick Fall has committed to galvanizing the private sector for stronger partnerships and more impactful investments towards acceleration of the Sustainable Development Goals (SDGs).


This is part of the goals of its partnership with the Sterling One Foundation geared towards building more effective multi-sectoral partnerships on impact investments in critical sectors through the Africa Social Impact Summit (ASIS).

Last year, the UN and Sterling One Foundation co-convened the Summit with the support of various stakeholders working towards sustainable development. Since then, the UN Country Team (UNCT) has focused on using the platform to emphasize the role of partnerships in driving SDGs towards agenda 2030.



Mr. Mohamed Fall described such partnerships as important in galvanizing coordinated social impact support by the private sector, which is essential for rescuing the SDGs in Nigeria.


“What the UN System offers to such partnerships is coordinated and complimentary efforts to assist the most vulnerable households and ensure no one is left behind,”he added.

“What the UN System offers to such partnerships is coordinated and complimentary efforts to assist the most vulnerable households and ensure no one is left behind,”he added.


Sharing her thoughts on what to expect from a second year of co-convening with the UN, Mrs. Olapeju Ibekwe, CEO of Sterling One Foundation highlighted the huge opportunities for including more sectors and investors in this year ‘s summit.

“What we hope to achieve this year is to build on the momentum we have gained from two years by engaging decision-makers from the private sector and other key sectors to move from commitments to action, as shown in the design of this year’s edition,” she said.

In addition to panel sessions on key issues ASIS 2024 will feature more sector-specific workshops focusing on SDG progress and solutions for acceleration.

The 2024 edition will be held from July 25 – 26, 2024 at the Eko Convention Centre, Lagos, and is open to leaders across the public and private sectors.

SOURCE:https://brandspurng.com/2024/05/13/united-nations-nigeria-partners-sterling-one-foundation-to-co-convene-asis-2024/