The Central Bank of Nigeria, CBN has moved the motion for the increase of Nigeria’s Monetary Policy Rate to 18% from the previous 16.5% which it was raised to in November 2022.

According to the communique released by the Monetary Policy Committee after its meeting held on Monday 20th and Tuesday 21st March 2023 which had in attendance 12 members who all voted in favor of the increase made this decision amidst the concerns for the recent bank failures in the United States and Switzerland, with widespread monetary policy restriction which is spreading across the country.

Meanwhile, domestically, Nigeria’s economic output has progressed moderately however with inflation numbers going upwards and a marginal increase in food inflation, the MPR also assessed this with the general economic outlook released by the International Monetary Fund (IMF).
The communique reads thus “In the Emerging Markets and Developing Economies, the unfolding tight external financing conditions and shock spillovers from the Advanced
Economies could further dampen the recovery of output growth. In light of these developments, the International Monetary Fund (IMF), in its January 2023 World Economic Outlook, forecasted global output growth for 2023 at 2.9 percent, compared with 3.4 percent in 2022. Growth is, however, expected to improve to 3.1 percent in 2024.”

The monetary policy admitted the certain key factors which are expected to keep inflation above the long-run target of several central banks which were named as thus “the persisting disruption to energy markets associated with continued war between Russia and Ukraine; high commodity prices; and general disruptions to the global supply chain associated with uncertainties around the COVID-19 pandemic in China and the ongoing tensions between the US and China over Taiwan’s sovereignty”

The committee also considered the global financial markets and the renewed fears of investors to move away from the equities market to safer assets such as gold and others stake their money on treasury securities which yield higher returns. It is expected that with several advanced economy and central banks moving forward with monetary policy normalization, global financial conditions will likely remain tight and might reinforce the reassignment of financial portfolios which reflect the fears of investors.

Data from the Nigeria Bureau of Statistics (NBS) showed good numbers with the GDP experiencing a 3.10% growth in 2022 and a 3.52% growth (YoY) in the fourth quarter of 2022. The economy reflects a positive look while maintaining a positive growth trajectory for the past few months since the recession in 2020. This is largely attributed to sustained growth in the services and agricultural sectors, a rebound in economic activities, and continuous intervention which enhanced growth in the banking sectors and provides good projections for further growth in 2023 and 2024.

Although, the committee also expressed worry over the marginal increasing inflation (YoY) especially in February 2023, which grew from 21.82% in January to 21.91% in February. This increase is believed to be caused by little increase in food components which rose from 24.32% in January to 24.35% in February with other core components moderating to 18.84% in February 2023.

The little increase in the food component is driven by the high cost of transportation of food items, lingering security challenges in major food-producing areas, and infrastructural challenges which are causing clogs in the food supply chain.

Meanwhile, the committee also noted stability in the banking sector which is reflected in the performance of the Financial Soundness Indicators (FSIs) and Capital Adequacy Ratio, and the Non-Performing Loans ratio remains moderate. While, growth was also observed in the equities market in the same reviewed period, with the All Share Index (ASI) and Market Capitalization (MC) both increasing to 54,915.39 and N 29.92 trillion as of March 17, 2023.

However, there was a marginal decline in the gross external reserves which reduced to $36.13 billion in February 2023 from $36.4 billion in January 2023, which is a result of the decline in crude oil prices due to global economic uncertainty.

The committee concluded that the decision to increase the MPR has since had a moderate effect on inflation, despite the recent bank failures in the US and Switzerland and a following persistent increase in interest rates in the US.

The committee also concluded that despite the continued impact of the exchange rate on domestic prices levels, it is optimistic that the RT200 FX programme will continue to make progress and other policies such as Naira-4-Dollar aimed at attracting diaspora remittance would continue to improve the growth of Nigeria’s foreign external reserves and improve liquidity in the foreign exchange market.


SOURCE:https://brandspurng.com/2023/04/14/cbn-increases-mpr-to-18-as-inflation-accelerates-to-21-91/

A new consumer-focused survey has projected Konga as the most admired and innovative e-commerce company on the African continent.



The survey, which was published on March 15, 2023, coincided with the World Consumer Rights Day.



The market-wide consumer-based survey examined the current state, performance and growth path of e-commerce in Africa. The poll, which cut across multiple consumer layers from youths to middle age and Boomers returned a promising verdict on Konga, identifying it as the fastest growing e-commerce company in Africa.



The survey carried out by DigiPundits, a pan-Africa digital research and marketing firm returned the same verdict on Konga as previous independent surveys, all of which placed Konga top of the pack in the areas of pocket-friendly pricing, operational efficiency, and the courage to take responsibility whenever a hitch occurs.



When asked which of the e-commerce companies in Africa they would wish to work with, most of the respondents, mainly youths, said they preferred Konga as a potential workplace of choice.



Respondents described Konga as highly responsive, ambitious and bullish in its deployment of technology to scale-up operations. They also ranked Konga high as a responsible corporate citizen. Respondents recalled that during the Covid-19 lockdown when they had to rely more on e-shopping, Konga stood out not only in making sure that prices of goods were heavily discounted with free, real-time delivery, but also in going a step further to supply thousands of families nationwide with essential food items, free of charge.



In addition, Konga was adjudged the most emotionally intelligent e-commerce company. Its partnership with a number of big brands ensured that consumers got their household needs with free toppings delivered to them hassles-free during the lockdown. Indeed, Konga’s strategic partnerships with manufacturers of sundry consumer goods has made it a one-stop shop for diverse brands of fast-moving consumer goods (FMCGs) which has triggered a spike in traffic to Konga’s online platform and physical stores.



The e-commerce giant’s unique composite – online-offline model – was also cited as a unique differentiator over competition. The existence of Konga brick-and-mortar stores nearer to the people across the country has made it easier for the e-commerce company to deliver goods and respond to emergencies ahead of others, the survey noted.

Respondents to the survey questions also cited ease of payment on Konga platform as one of the reasons they are loyal to the brand. Konga launched KongaPay in 2015 in partnership with Nigerian commercial banks to ease the bottlenecks and check insecurity associated with online payments. KongaPay, a secure and easy-to-use payment app for Konga customers and other users, stood out above the rest as it comes bundled with internal security and full compliance with extant KYC regulations that gives online payers peace of mind.



This innovation has, over the years, protected online shoppers on Konga platform against cyber crooks when they share sensitive information such as their bank or credit card details, contact information and address while processing transactions. KongaPay mirrors the Amazon payment platform with its convenient payment features. The CBN-licensed mobile money wallet has equally been fully integrated with many banks in Nigeria which makes payment for transactions seamless and safe.



Konga was founded in July 2012 with just 20 staff. But it has grown to an e-commerce giant in Africa with over 800 staff. It has received rave reviews as the most customer-friendly e-commerce company which unlike much of the competition, has a pedigree for vending original products because of its strong liaisons with global Original Equipment Manufacturers (OEMs).



Respondents to the survey disclosed that Konga has built a reputation for stocking only genuine products, thereby taking a stand against selling fake or substandard products. It practices What You See Is What You Get (WYSIWYG) which keeps it several steps ahead of the competition. Many respondents complained that often, some e-commerce companies advertise a product of superior quality but deliver the very opposite of what was advertised: a product of very poor quality.



Konga was acquired by the Zinox Group, a leading tech powerhouse, in early 2018 in what was regarded as the biggest corporate coup in Africa’s ICT ecosystem. Nobody saw it coming but that ambitious acquisition of Konga by Zinox Group and its subsequent merger with Yudala, another market maverick under the Group, has completely reset Nigeria, nay Africa, e-commerce market.



Nigeria, South Africa, Kenya, Morocco and Egypt were rated the top five e-commerce markets in Africa in the report.

SOURCE:https://brandspurng.com/2023/04/13/konga-named-most-innovative-e-commerce-brand-in-africa/

A one-time winner of the popular reality TV show, Big Brother Africa, Tayo Faniran says Gangs of Lagos was a second chance for him.

Speaking during an interview with Busola at the Gang of Lagos movie Premiere, Tayo aka Nino said “Gangs of Lagos is my second chance, and thanks you (fans), Jade Osiberu (director and producer) for bringing something huge to me”

“you know it’s not easy to have it one time and it slips off your hands”.

Gangs of Lagos was released to the public on April 7, on Amazon Prime streaming platform and it’s the first on the Africa Originals section. The movie is centered around three characters; Ify, Gift and Obalola, and has a rich cast led by Tobi Bakre.

Others include Adesua Etomi-Wellington, Bimbo Ademoye, Chike, Chioma Akpota, Damilola Odunsi, Ola Rotimi, Funke Williams, Zlatan, Pasuma and former Big Brother Africa runner-up , Tayo Faniran.

The brain behind Gangs of Lagos, Jade Osiberu said that the movie was conceived ten years ago while shooting ‘Gidi Up’ on top of the roof of a building at Isale Eko. Jade noted that the story was inspired by society and the people on the streets who carry dreams and aspirations desiring to be fulfilled amidst their backgrounds and negative situations.

SOURCE:https://brandspurng.com/2023/04/10/gangsoflagos-was-my-second-chance-tayo-faniran/

Telecom giant, Vodafone Ghana has disclosed plans for expanding its national roaming services in partnership with MTN which would give customers improved connectivity across the country.

This initiative, which was first initiated when the pilot program began last year covering the Volta Region, has now been extended to cover the entire nation.

The agreement between the two telecom giants is part of the Ghanaian government’s plans to enhance the country’s access to digital transformation while accelerating the implementation of full national roaming regulations among all telecom operators in the country. Glo, the country’s smallest mobile network operator by subscriptions, recently entered a nationwide roaming agreement with the competitor AirtelTigo in April 2022, which would help provide better coverage and a faster mobile broadband experience for their customers.
Vodafone Ghana CEO, Patricia Obo-Nai, commenting on the new expansion agreement said “National roaming offers customers a greater choice of network providers. In 2022, we successfully collaborated with the government, the regulator, and MTN Ghana to pilot the national roaming service in the Volta Region. We are excited that this partnership has extended to other regions.”

SOURCE:https://brandspurng.com/2023/04/05/vodafone-mtn-announce-partnership-on-roaming-expansion-plans/

Identifying a pressing need in a brand’s ecosystem and doing something pragmatic to fix it is the hallmark of a company desirous of being relevant and getting ahead of its competitors.

For many years, consumers have had to patronize imported, loose rice sold in open basins in neighbourhood stores and open markets. Primarily, concerns stemmed from the ease with which loose or unpackaged rice was subjected to contamination and age concealment that posed a risk to consumer health and safety.

Many people bought, and are still buying such rice, not minding the high risk of contamination and poor handling, simply because they erroneously attribute the purchase of packaged rice to those with affluence.

At the forefront of driving the narrative for consumers to embrace packaged rice for its numerous advantages is Big Bull Rice. The uniqueness of Big Bull Rice not only comes from its uncompromising quality production standards, but through it’s different pack sizes that meet the needs of everyone’s pocket.

Big Bull Rice’s range of available pack sizes ensures that consumers get good quality, nutritious and hygienic rice for their varying needs and convenience. Gone are the days when the only option for small portions of rice were offered in loose form and sold, using old rusty tins.

For the best-packaged rice brand in the market, look no further than Big Bull Rice.

Big Bull Rice is produced in an advanced, automated rice milling factory of WACOT Rice Limited in Argungu, Kebbi State that ensures that manual handling is eliminated to the barest minimum. And, as a result of this, consumers only get rice produced in the best hygienic conditions.

Big Bull Rice provides the best cooking experience because it has less broken pieces and discards. Also, with reduced exposure to contamination at the point of sale, coupled with state-of-the-art production processes, it does not carry the baggage of discolouration associated with loose or unpackaged rice.

The cutting-edge technology used by WACOT Rice Limited ensures that the product has less moisture hence its water absorption and swelling index is high, giving consumers a pleasant cooking experience with volume and value.

With Big Bull Rice, you are assured of good quality, safety, convenience and a great taste of homegrown ingenuity with unique packaging that cuts across every category.

Only recently, the brand introduced the N100 pack size to cater to a wider spectrum of consumers who desire healthy, affordably packaged rice tailored precisely to meet their specific lifestyles and needs.

Mrs. Florence Edebiri, a housewife and mother whose age-long perception that home-made, packaged rice was a poor imitation of its imported alternative has since found out that Big Bull Rice offers her a better cooking experience that she could have ever imagined.

These days, she takes great pleasure in cooking and serving bowls of prepared Big Bull Rice to the delight of her family.

Moochikal Damodaran Ramesh, CEO of TGI Group’s Agribusiness, in assessing the progress the company has made in making Big Bull Rice a favourite in many Nigerian homes, says that the quality of the brand originated from the attention paid to it from its planting, harvesting, processing, storage and packaging stages.

He is also pleased to mention that WACOT Rice Limited, Kebbi State, with an impressive track record of partnering with local farmers in order to get better yields, has gone a long way to enhance the profile and acceptability of Big Bull Rice, just as it has with the quality of life of the farmers.

“The quality of Big Bull Rice is a function of the modern process we use. The process from the farm, to production, to storage defines the quality output,” he says.

“Big Bull Rice has less broken pieces and discards. This quality attribute drives the numerous set of consumers we have who are repeat loyalists,” he adds.

“The standards we have created has lifted Big Bull Rice to the level where it is now being compared with imported, not local brands. It is perceived as local goodness when compared with foreign brands.

“And our ultimate goal is to see the Big Bull Rice being the foremost brand of choice for our teeming consumers not only because it offers a different value in terms of quality, hygiene, convenience and affordability, but because it is readily available anywhere they live in Nigeria,” he concludes.

His view aligns with those of his fellow executive who believes that high-grade quality has defined the Big Bull Rice as a brand of choice for most Nigerians.

“The need to give our consumers a rice brand that set the standards in quality, safety, hygiene, convenience and affordability was the inspiration behind our concept of the packaged Big Bull Rice,” Probal Bhattacharya, Chief Marketing Officer, TGI Group informs.

“We are pleased with the growing positive consumer perception of safety, health, and convenience of Big Bull Rice. This cuts across various socio-economic classes and regions as more consumers embrace the concept of packaged rice that Big Bull offers over loose unpackaged rice.

“With the recent launch of Big Bull Rice N100 pack size, consumers now have one more reason to eat healthy at a convenient price. The N100 Big Bull Rice pack makes quality packaged rice affordable and more accessible ” he adds.

With the plethora of benefits consumers enjoy from Big Bull Rice, it is clear it has the ability to win in a market which was traditionally flooded with various kinds of imported brands.

The company says so. The consumers say so.

Big Bull Rice is Nigeria’s foremost parboiled rice. Big Bull is premium milled, stone free, with an excellent swelling index that retains the natural taste and texture of goodness from the Nigerian soil. An absolute cooking delight with the best texture, uniform size and shape, each grain is highly nutritious, rich in vitamin B, iron, dietary fibres and protein with low glycemic index for healthy consumption. Big Bull is the ideal choice for a great-tasting rice dish, be it jollof rice, fried rice, white rice, coconut rice and many more. Available in various consumer-friendly pack sizes nationwide.

Tropical General Investments TGI Group is an international investment and holding company with diversified interests and investments across Africa the Middle East Asia and other emerging markets. TGI’s investments focus on driving inclusivity and value addition using locally sourced raw materials state-of-the-art manufacturing facilities and a highly skilled workforce to produce world-class products that are consumed both locally and exported to global markets. Across markets, TGI Group owns over a hundred leading brands in fast-moving consumer goods, agricultural inputs, industrial chemicals, home care products and pharmaceuticals.

SOURCE:https://brandspurng.com/2023/04/03/how-big-bull-is-changing-narrative-in-nigerias-packaged-rice-industry/

The national secretariat of National Association of University Students(NAUS) has condemned the proposed uses this medium to kick against the proposed increment increment in tuition fees at the Federal University of Technology (FUTA), Akure.

Speaking to newsmen on Monday, comrade Alade Abayomi Oldman
NAUS-Deputy Senate President said, ” It has been a rife rumor the past few weeks that an increment in the school fees in all federal Institutions of the federation has been proposed which the Management of FUTA is now leveraging on to validate the devilish rumor.

“The proposed increment, as it was reported to us by some of the Excos of the Student Union of the University who had meeting with the University Management, is supposedly premised on the current state of the economy of the country. However, for better welfarism of our world-class students, the NAUS leaders has kicked against the proposed hike of the school fee.

“We call on The University Managements and Federal Government and all bodies involved to please look into this wrong as it is known to us all that over 200% increments in school fees of any University or Institution in this country with the present economy is uncalled for, preposterous and evil. NAUS, as represented by Comrade Alade Abayomi Oldman in the University has been empowered by the entirety of University students across Nigeria to fight any increment whatsoever in FUTA fees and ensure the welfarism of Nigerian students are protected and ensured”.

The body further called for an halt to any plan to increase tuition in FUTA as failure to do so will be an invite to all Nigerian University students to shutdown all Federal and State roads around FUTA and nationwide by NAUS as soon as the announcements is made official.

Adviced students to abide by the law and keep calm as the issue is been looked into.

SOURCE:https://brandspurng.com/2023/04/03/naus-condemns-increment-in-futa-school-fees/

The National Association of Nigerian Students (NANS). has called on the incoming Government to work with Professor Umar Dambatta, which they describe as an outstanding leader in the Nigerian apex Telecommunications regulator.

Speaking at a Press Conference in Kaduna the National Secretary of the Student’s apex body Comrade Usman Baba Kankia, said “We have gathered to exray the stewardship of the Executive Vice Chairman of the NCC, acknowledge his achievements and pass a vote of confidence on him for his outstanding leadership in leading the Nigerian apex telecommunications regulator.

“We commend Professor. Dambatta for the role the NCC played in the successful conduct of the 2023 general elections by ensuring the success of transmission of results and defending the INEC server from hackers and intruders during the collation process.

It is worthy of note that under Professor. Danbatta’s leadership, the NCC has achieved remarkable milestones that have positively impacted the telecom industry and the economy at large.

We are moved by the unprecedented transformation he has brought to the NCC, some of his include:

The successful auction of 3.5 gigahertz (GHz) spectrum broadband for the deployment of the 5G network in Nigeria to boost internet speed and connectivity across the country.

Regulatory strides that have continually created a level playing field for investors, this has helped to reflate telecom-induced growth of the economy in the post-pandemic era

“Professor.Dambatta has also repositioned ICT to contribute 17% to the Gross Domestic Product (GDP) with a target of 20% in the future helping to bridge government revenue deficit

He further explained “Under Professor. Dambatta,the NCC has ensured continuous SIM registration audit to provide security and curtail incidences of banditry, kidnapping, and armed robbery thereby improving on the security situation of the country.

Comrade Usman Kankia maintained that “Creation of Emergency Communications Centres (ECCs) in more states of the federation and execution of the counterpart funding agreements with the licensed Infrastructure companies (InfraCos) to facilitate the digital transformation of the economy.

“Statistics from the commission shows that when Mr Dambatta came on board, 217 access gap clusters were identified in the country,with 40 million Nigerians excluded from access to telecoms services.Five years after, however, the access gaps have reduced to 114 clusters with an additional 15 million Nigerians now connected.

He also oversaw the successful licensing of six Infrastructure Companies (InfraCos) to deploy fibre infrastructure across the six-geo political zones that will also help to galvanize increased connectivity and improve broadband penetration.

“This single move have brought about a reduction in the cost of data from N1000, per gigabyte of data to around N390 with a broadband penetration target of 70 per cent to cover 90 per cent as contained in the new Nigerian National Broadband Plan (2020-2025).

The Students apex body National Secretary further explained”On capital importation, as at 2015, Foreign Direct Investment (FDI) in the telecom sector stood at $1 billion but declined to $212 million by 2018. However, through improved regulatory framework, the FDI in the sector has picked up again, reaching $930 million according to figures of the Central Bank of Nigeria (CBN).

“We, therefore on behalf of Nigerian students urge the incoming administration at Federal level to continue to work with the NCC Executive Vice Chairman,Professor.Umar Dambatta,to deliver good governance to the people of Nigeria.

“We are confident that his leadership acumen and experience will continue to take the telecom industry and the economy to greater heights.

SOURCE:https://brandspurng.com/2023/03/31/nans-commend-prof-dambatta-for-his-outstanding-leadership/

Nigeria’s apex bank CBN recently announced its new monetary policy that includes a benchmark interest rate of 50 basis points to 18%. This has sparked anxiety amongst experts in the real estate and property development industry who believe the new interest rate introduced by the CBN would have a negative impact on property prices and the entire construction value chain.

Mr. Godwin Emefiele, CBN’s Governor had disclosed that the slight increase in the interest rate was to curb the effect of inflation and provide an economic solution to Nigeria’s rising economic crisis.

Nigeria’s inflation which has now risen to 21.91% in February from 21.82% from the previous month according to the figures released by NBC, while the monetary policy rate has been on the rise since April 2022 which was at 11.50% has impacted the lending and inflation rate in Nigeria, thereby increasing the cost of goods and services.

According to experts, which have also expressed worry about the automatic increase in the bank-lending rate which they consider to be very high, have also forecasted that the interest rate from commercial banks might exceed 30% in the months to come.

The real estate sector which is largely underfunded and keeps experiencing challenges when trying to access funds which are usually hindered by bottlenecks in the financial system. Real estate experts believe it would be unwise to expect huge returns from a largely underfunded sector.

This has caused developers in the past to resort to options such as rigorous off-plan sales, but this has never ensured enough cash at hand for business, instead of going through the risk of high borrowing with a high-interest rate, which has resulted in high prices for real estate products.

Although, experts are saying high-interest rate could in some way control inflation to an extent, but can exacerbate supply chain issues in turn pushing up prices in building materials and making construction projects expensive.

CEO of Eximia Realty Company Limited, Hakeem Ogunniran while talking to The Guardian said the development can cause more problems in the industry for developers and those who want to build homes.

He added that the current challenges are the high cost of funding and that long-term construction finance is not available. He also noted that if the finances are available, the tenure is short.

Ogunniran explaining the effect of the increase in interest rate said that banks would also mark up their rate from the existing 28% which to him would largely affect construction financing and the entire real estate value chain.

The former CEO of UPDC Plc also expressed his concerns over funding for real estate projects adding that a holistic approach must be made by the government. He requested that the government create a special window such as long-term bonds and financial instruments and also make use of pension funds.

Ogunniran also expressed his opinion about the low absorption capacity in the mortgage sector, adding that there was a need to pay attention to mortgages as primary mortgage institutions are now functioning as commercial banks and this is making it difficult to access mortgages with the current high rates of mortgages and tenure.

President of, Real Estate Developers Association of Nigeria (REDAN), Dr. Aliyu Wamakko, mentioned that the CBN’s new lending rate would cause commercial banks to bump up their interest rate to 32%, noting that this increase would affect members of the association who specialize in developing affordable housing in the country.

He said “Without the affordable fund, there is no affordable housing. The low-income earners have no room to get a house with the high cost of funds. It will reduce the production of housing and increase costs. Only a low-interest rate can create affordable housing and massive employment opportunities for Nigerians.”

He also added that the incoming President must understand that affordable housing requires affordable finance, and it is important to create an opportunity to access such finance. Wamakko also stated the need for synergy among agencies in the real estate sector to encourage mortgage culture.

There should be a special intervention fund for housing and an enabling environment for the private sector to thrive. The outgoing government was not able to produce the one million housing they promised. The government was not even able to complete the 3, 700 houses and that is why we felt the government had no business in the development of houses.

Basically, all over the world, housing is driven by the private sector. With an enabling environment, the private sector will strive and create opportunities for the government in terms of housing provision.

“There should be a reduction in the cost of interest rate, a review of the Land Use Act to reflect the present realities. Land acquisition is a herculean task and when governments across all levels budget for housing, it should be channeled through the private sector with single-digit interest to produce affordable housing.”

SOURCE:https://brandspurng.com/2023/03/29/real-estate-developers-express-worry-over-cbns-new-interest-rate/

Zenith Bank Plc has announced its audited results for the year ending December 31, 2022, achieving an impressive double-digit growth of 24% in gross earnings from NGN765.6 billion reported in the previous year to NGN945.5 billion in 2022.

This is despite the persistent challenging macroeconomic environment and headwinds.

According to the audited financial results for the 2022 financial year presented to the Nigerian Exchange (NGX), the double-digit growth in gross earnings was driven by a 26% year-on-year (YoY) growth in interest income from NGN427.6 billion to N540.2 billion and a 23% year-on-year (YoY) growth in non-interest income from NGN309 billion to NGN381 billion.

Profit before tax also grew by 2% from NGN280.4 billion to NGN284.7 billion in the current year. The increase in profit before tax was due to the significant growth in all the income lines.

Impairments grew by 107% from NGN59.9 billion to NGN124.2 billion, while interest expense grew 63% YoY from N106.8 billion to N173.5 billion, respectively. The impairment growth, which also resulted in an increase in the cost of risk (from 1.9% in 2021 to 3.3% in the current year), was due to the impact of Ghana’s sovereign debt restructuring programme. The growth in interest expense increased the cost of funds from 1.5% in 2021 to 1.9% in 2022 due to hikes in interest rates globally.

Customer deposits increased by 39%, growing from NGN6.47 trillion in the previous year to NGN8.98 trillion in the current year. The growth in customer deposits came from all products and deposit segments (corporate and retail), thus consolidating the bank’s market leadership and indicating customers’ trust.

The continued elevated yield environment positively impacted the bank’s Net-Interest-Margin (NIM), which grew from 6.7% to 7.2% due to an effective repricing of interest-bearing assets. Operating expenses grew by 17% YoY, but growth remains below the inflation rate. Total assets increased by 30%, growing from NGN9.45 trillion in 2021 to NGN12.29 trillion, mainly driven by growth in customer deposits.

With the steady and continued recovery in economic activities, the Group prudently grew its gross loans by 20%, from NGN3.5 trillion in 2021 to NGN4.1 trillion in 2022, which increased the Non-Performing Loan (NPL) ratio modestly from 4.2% to 4.3% YoY. The capital adequacy ratio decreased from 21% to 19%, while the liquidity ratio improved from 71.2% to 75%. Both prudential ratios are well above regulatory thresholds.

In 2023, the Group intends to expand its frontiers as it also reorganises into a holding company structure, adding new verticals to its businesses and growing in all its chosen markets, both locally and internationally.

As a testament to its commitment to shareholders, the bank has announced a proposed final dividend payout of N2.90 per share, bringing the total dividend to N3.20 per share.

In recognition of its track record of excellent performances, Zenith Bank was recognised as the Number One Bank in Nigeria by Tier-1 Capital, for the 13th consecutive year, in the 2022 Top 1000 World Banks Ranking published by The Banker Magazine; Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards 2020 and 2022; Best Bank in Nigeria, for three consecutive years from 2020 to 2022, in the Global Finance World’s Best Banks Awards; Best Commercial Bank, Nigeria 2021 and 2022 in the World Finance Banking Awards; Best Corporate Governance Bank, Nigeria in the World Finance Corporate Governance Awards 2022; Best in Corporate Governance’ Financial Services’ Africa, for three consecutive years from 2020 to 2022, by the Ethical Boardroom; Best Commercial Bank, Nigeria and Best Innovation In Retail Banking, Nigeria in the International Banker 2022 Banking Awards.

Also, the bank emerged as the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 2020 and 2021, and Retail Bank of the year, for three consecutive years from 2020 to 2022, at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards.

Similarly, Zenith Bank was named as Bank of the Decade (People’s Choice) at the ThisDay Awards 2020, Most Innovative Bank of the Year 2019 by Tribune Newspaper, Bank of the Year 2020 by Independent Newspaper, Bank of the Year 2021 by Champion Newspaper, Bank of the Year 2022 by New Telegraph Newspaper, and Most Responsible Organisation in Africa 2021 by SERAS Awards.

SOURCE:https://brandspurng.com/2023/03/29/zenith-bank-grows-gross-earnings-by-24-to-n945-5-billion-in-2022/

Xiaomi, a Chinese smartphone manufacturer, recently launched their Redmi Note12 series, which debuted in China and announced that the smartphone series has finally arrived in Europe.

Xiaomi Redmi Series 12 was launched in its home country in China first, while the four smartphones debuted in Paris later in March.
Although the series has almost similar names, there are major differences in the specs between Redmi Note 12, 12 5G, 12 Pro and 12 Pro+ and also reflects in the price.

The Redmi Note 12 series includes a budget-friendly smartphone as well as a premium mid-ranger and the classic.

Here is the spec and prices for the Redmi Note 12 series.

Redmi Note 12: From £219/€249/₹15,499/¥1,199
Redmi Note 12 5G: From £279/€299
Redmi Note 12 Pro: From £339/€399/₹24,999/¥1,699
Redmi Note 12 Pro+: From £449/€499₹25,999/¥2,199
Redmi Note 12 Explorer Edition: From ¥2,399 (about $330/£285/€330/₹27,500)
Redmi Note 12 Speed Edition: From ¥1,699 (about $230/£200/€230/₹19,500)

Redmin Note 12 Specs and Features.

Redmi Note 12
The Note 12 is a basic budget smartphone and doesn’t look so bad as the rest. It is the least of the series and the only model whose difference is between the Chinese and European/Indian models, although the differences are primarily limited to cameras.

It’s powered by the entry-level Snapdragon 4 Gen 1 chip, with up to 8GB of RAM and 256GB storage in China and Europe, though it’s capped at 6+128GB in India.

Like all the phones in the series, you can expect a 6.67in OLED display with a resolution of 2400 x 1080 pixels (FHD+), a 120Hz refresh rate, a 240Hz touch sampling rate, and support for HDR10+, HDR10, and Dolby Vision.

Despite the OLED screen, it still uses a side-mounted fingerprint sensor, but one perk is you still get a 3.5mm headphone jack.

While there is a 5000mAh battery, it’s paired with slightly sluggish 33W wired charging.

The camera on the Chinese model has a 48Mp main rear camera and is joined only by a 2Mp depth sensor. The Indian and European models get an extra 8Mp ultrawide on the rear.

There’s a difference on the front too: in China, there’s a basic 8Mp selfie camera, while the Indian and European variants jump up to a 13Mp sensor.

Like all the phones in the series, it runs Android 13 with MIUI 14. That’s upgraded from MIUI 13, which the phones initially launched with.

Qualcomm Snapdragon 4 Gen 1
4/6/8GB RAM
128/256GB storage
6.67in 120Hz OLED
5000mAh battery
33W wired charging

Camera:
48Mp main camera
8Mp ultrawide (Indian and European models)
2Mp depth sensor
8/13Mp selfie camera (China/India & Europe)
5G (option for just 4G)
Wi-Fi 6
3.5mm headphone jack
IP53
Android 13 with MIUI 14
Redmi Note 12 Pro
The Pro model is powered by a MediaTek Dimensity 1080 chip, combined here with 6,8, or 12gb RAM and 128 or 256gb of storage but packs the same display as the basic model.

Here are the list of features.

MediaTek Dimensity 1080
6/8/12GB RAM
128/256GB storage
6.67in 120Hz OLED
5000mAh battery
67W wired charging
Camera:
50Mp, f/1.9 main camera with OIS
8Mp ultrawide
2Mp macro
16Mp selfie camera
5G
Wi-Fi 6
3.5mm headphone jack
IP53
Android 12 with MIUI 13

Redmi Note 12 pro+
The Pro+ doesn’t come with so many changes and performance is the same except that the RAM is only available in 8 or 12GB, with storage capped at 256GB and the battery is the same as the Pro but with faster charging.

MediaTek Dimensity 1080
8/12GB RAM
256GB storage
6.67in 120Hz OLED
5000mAh battery
120W wired charging
Camera:
200Mp, f/1.65 main camera with OIS
8Mp ultrawide
2Mp macro
16Mp selfie camera
5G
Wi-Fi 6
3.5mm headphone jack
IP53
Android 12 with MIUI 13

Redmi Note 12 Explorer Edition

This version is limited to the China-only Explorer Edition and is identical to the Pro+ version but with certain changes. One of the significant changes is the significantly smaller 4300mAh battery so might not last as long as the others.

Here are some of the listed features.

MediaTek Dimensity 1080
8GB RAM
256GB storage
6.67in 120Hz OLED
4300mAh battery
210W wired charging
Camera:
200Mp, f/1.65 main camera with OIS
8Mp ultrawide
2Mp macro
16Mp selfie camera
5G
Wi-Fi 6
3.5mm headphone jack
IP53
Android 12 with MIUI 13

Redmi Note 12 Speed Edition

Qualcomm Snapdragon 778G
6/8/12GB RAM
128/256GB storage
6.67in 120Hz OLED
5000mAh battery
67W wired charging
Camera:
108Mp, f/1.9 main camera
8Mp ultrawide
2Mp macro
16Mp selfie camera
5G
Wi-Fi 6
3.5mm headphone jack
IP53
Android 13 with MIUI 14

SOURCE:https://brandspurng.com/2023/03/28/xiaomis-redmi-note-12-series-hits-europes-market/

Funso Aina, MTN Nigeria’s Senior Manager, External Relations, and one of Africa’s most decorated media and public relations professionals, has been announced ‘Innovator of the Year’ in the brands category at the highly respected SABRE IN2 awards.

Awarded since 2013, the SABRE IN2 awards recognise excellent work that highlights the expanding scope of the PR profession, from content creation to the evaluation process using data and analytics to inform, enhance and evaluate campaign successes across the globe.

Aina’s recognition was announced by Provoke Media on February 15, 2023.

The award was presented at the PRovoke EMEA Summit in Gesellschaftshaus Palmengarten Frankfurt, Germany on Thursday March 23, 2023.

CEO & Editor-in-chief, PRovoke Media, Arun Sudhaman said, “The media and communications industry is in the age of convergence, with every discipline demonstrating decent impressions to be most valuable to organisations and agencies. The innovation SABRE awards recognises campaigns that are groundbreaking- having factual data analysis and implemented with the use of technology for evaluation by industry leaders. The award category spotlights professionals in agencies and brands that empower and enable reputation excellence within their organisations.”

This innovation award is a testament to Funso’s trailblazing efforts in media relations, through MTN Nigeria’s Media Innovation Programme (MIP): a six-month certificate programme for Nigerian media practitioners to increase the knowledge and skill base of the participants, help them understand the changing media landscape and how to effectively use technology to create impactful media content in the country and Africa at large.

During the study, 20 media practitioners from various media sectors engaged in capacity-building sessions to stir up their innovations and improve ways of practice to create sustainability in the industry. This was apparent in their study trip to the University of Witwatersrand, South Africa, where the participants engaged in interactive sessions on creativity and innovation, explored opportunities in the media business and brainstormed on solutions to some of the challenges to successfully running media businesses in Africa.

Funso, a member of the Nigerian Institute of Public Relations (NIPR), and a corporate communication professional with over two decades of experience emerged top across Europe, the Middle East and the African region (EMEA). He was named ‘Most Influential Public relations professional in Nigeria’ by the industry regulator, NIPR in 2022.

Aina says:, “I am grateful for the recognition from SABRE and its dedication to acknowledging exceptional content produced by modern PR professionals. This award is inspiring for all of us at MTN; it emboldens our commitment to improving the media landscape and implementing our ‘Good Together’ initiative. I am convinced we still have feats to achieve in the industry, and with strategic thinking, we will cover even more grounds.”

Funso Aina has close to three decades of work experience in journalism, cultural diplomacy and telecommunications. He has various competencies and hands-on experience in public relations, corporate communications, media relations, public affairs and reputation and crisis management. He is a Fellow of the prestigious US State Department’s International Visitors Programme (IVP) and the British Commonwealth Press Union (CPU).

Prior to joining MTN Nigeria in 2009, he was Communications Manager of the British Council, Chief Correspondent at Punch newspapers, Assistant Editor with The Nation newspapers and Senior Reporter with Independent Communications Network Limited (ICNL), publishers of The News, Tempo magazines and PM newspapers.

He holds a Bachelor of Arts degree in History (University of Ilorin, 1992) and a Master’s degree in International Relations (Obafemi Awolowo University, Ile-Ife, 1998).

SOURCE:https://brandspurng.com/2023/03/27/mtn-nigeria-funso-aina-named-innovator-of-the-year/

The E-commerce giant, Amazon has announced that it would be cutting down 9,000 more jobs in the coming weeks, according to the memo released to the staff by CEO Andy Jassy on Monday.

This recent layoff is coming on the back of the previously announced lay off which started in November and extended to January. The number of staff laid off amounted to 18,000 employees, which affected departments like retail, recruiting, and human resources.

Amazon disclosed that this decision to lay off more employees is to streamline costs, taking into account the economy as well as ” uncertainty that exists in the near future,”. Jassy shared. Amazon just wrapped up the second phase of its annual budgeting process, which was referred to internally as “OP2”.

Jassy said, “The overriding tenet of our annual planning this year was to be leaner while doing so in a way that enables us to still invest robustly in the key long-term customer experiences that we believe can meaningfully improve customers’ lives and Amazon as a whole,”.

The latest layoff, however, impacted Amazon’s cloud computing, human resources, advertising, and Twitch live-streaming businesses according to Jassy’s memo. Dan Clancy, Twitch CEO disclosed that about 400 people would be laid off in this recent Amazon job cut. Clancy also tied the recent layoff to the economic downturn and also mentioned that Twitch’s users and revenue have not grown up to the expected results.

Amazon, which had gone on a hiring spree during the pandemic in 2020, has undergone the biggest layoffs in the company’s history. While the company’s global workforce increased to 1.6 million by the end of 2021, rising from 798,000 in the fourth quarter of 2019.

Amazon’s CEO also shared a broad overview of the company’s expenses during the economic downturn and the slow growth experienced in its core retail business. Amazon also stopped hiring in its corporate workforce, cutting short some experimental projects and delaying warehouse expansion.

Amazon’s CEO is however optimistic that the company’s largest businesses which are retail and Amazon Web Services, as well as other, new divisions, will continue to receive investment. Amazon shares closed at 1% on Monday.

Here’s the full memo from Jassy:
As we’ve just concluded the second phase of our operating plan (“OP2”) this past week, I’m writing to share that we intend to eliminate about 9,000 more positions in the next few weeks—mostly in AWS, PXT, Advertising, and Twitch. This was a difficult decision, but one that we think is best for the company long term.

Let me share some additional context
As part of our annual planning process, leaders across the company work with their teams to decide what investments they want to make for the future, prioritizing what matters most to customers and the long-term health of our businesses. For several years leading up to this one, most of our businesses added a significant amount in headcount.

This made sense given what was happening in our businesses and the economy as a whole. However, given the uncertain economy in which we reside, and the uncertainty that exists in the near future, we have chosen to be more streamlined in our costs and headcount. The overriding tenet of our annual planning this year was to be leaner while doing so in a way that enables us to still invest robustly in the key long-term customer experiences that we believe can meaningfully improve customers’ lives and Amazon as a whole.

As our internal businesses evaluated what customers most care about, they made re-prioritization decisions that sometimes led to role reductions, sometimes led to moving people from one initiative to another, and sometimes led to new openings where we don’t have the right skills match from our existing team members.

This initially led us to eliminate 18,000 positions (which we shared in January); and, as we completed the second phase of our planning this month, it led us to these additional 9,000 role reductions (though you will see limited hiring in some of our businesses in strategic areas where we’ve prioritized allocating more resources).

Some may ask why we didn’t announce these role reductions with the ones we announced a couple of months ago. The short answer is that not all of the teams were done with their analyses in the late fall; and rather than rush through these assessments without the appropriate diligence, we chose to share these decisions as we’ve made them so people had the information as soon as possible.

The same is true for this note as the impacted teams are not yet finished making final decisions on precisely which roles will be impacted. Once those decisions have been made (our goal is to have this complete by mid to late April), we will communicate with the impacted employees (or where applicable in Europe, with employee representative bodies). We will, of course, support those we have to let go, and will provide packages that include a separation payment, transitional health insurance benefits, and external job placement support.

If I go back to our tenet—being leaner while doing so in a way that enables us to still invest robustly in the key long-term customer experiences that we believe can meaningfully improve customers’ lives and Amazon as a whole—I believe the result of this year’s planning cycle is a plan that accomplishes this objective.

I remain very optimistic about the future and the myriad of opportunities we have, both in our largest businesses, Stores and AWS, and our newer customer experiences and businesses in which we’re investing.

To those ultimately impacted by these reductions, I want to thank you for the work you have done on behalf of customers and the company. It’s never easy to say goodbye to our teammates, and you will be missed. To those who will continue with us, I look forward to partnering with you as we make life easier for customers every day and relentlessly inventing to do so.

SOURCE:https://brandspurng.com/2023/03/24/amazon-cuts-9000-more-jobs-adding-to-18000-announced-in-january/

The Minister of Communications and Digital Economy, Prof. Isa Ali Pantami has disclosed that President Muhammadu Buhari has approved an exemption of 5% of excise duty for the telecommunication sector previously added by the Federal Government.

Prof Isa Pantami disclosed to newsmen on Tuesday in Abuja, that the decision to exempt the telecom sector from paying the 5% tax was made by the Presidential Committee set up last year to review the introduction of the Excise Duty by the Federal Ministry of Finance.

The tax was introduced based on the report on 41 multiple taxes and levies which the telecoms service providers in the industry paid. The Ministry of Finance had earlier introduced the 5% Excise Duty for the telecoms sector last year but was refuted by the Minister of Communication and Digital Economy, who claimed that the tax would be too tough on the service providers in the telecom sector, considering the multiple taxies and levies which have been imposed on the sector. He also argued that other critical stakeholders were not consulted before the decision was made.

The Minister said “We converge today with regard to the assignment given to us by the President. Historically, we had invited the media on 5th September 2022 and briefed them after inaugurating the Presidential Committee on the review of Excise Duty in the telecom sector.

‘‘Prior to that, there was an issue of 5% Excise Duty introduced to the sector without following due process, which was part of the requirements for subsidiary legislation. I was not contacted and when it was announced, I personally challenged it and wrote a letter to the President on 12th of August, 2022, demanding that the 5% duty be put on hold and also to set up a review committee to look into the issue critically and professionally and advise the President on the best way to handle it. He gracefully approved the two prayers and directed me to chair the committee, among whom was the minister of finance, NCC EVC, and representatives of the telecom service providers.

‘‘After the inauguration of the committee, the committee convened a stakeholders forum on 5th September and the committee was directed to incorporate other people that will add value to the work and it did. On 14th December 2022, another issue concerning the 5% excise duty came up which I spoke against and justified my stands in writing. I insisted that within the telecoms sector, there are 41 categories of charges and levies and so, there is no justification to add more burdens on a sector that is already doing well, contributing so much to the economy.

The Presidential Committee which completed its report in the first week of February 2023, invited other stakeholders before submitting its report. However, after the review, the committee reported that there was no need for Excise Duty in the ICT sector, the reason being that the sector is already paying 41 categories of charges and levies and has been contributing significantly to the economy already, to which it cited two countries in Africa that increased their excise duty in the ICT sector and that led to a collapse of the sector in that country.

He also added that ‘‘Thirdly, the committee argued that the sector has set an unprecedented record in terms of contribution to GDP. In Q1 2021, ICT sector alone contributed 14% to GDP, in Q2 2021 the sector contributed 17,9%, in Q2 2022 sector contributed 18.44% and in 2020, 2021 and 2022, the sector was rated the fastest growing sector without any subsidy, while other sectors even with subsidies were not doing well.

‘‘In furtherance of the justification of the position, the President had in 2022 directed Office of the Secretary to the Government of the Federation, SGF to invite two international firms to evaluate the whole ministries and agencies, which KPMG and Foreign Commonwealth and Development Office were among. At the end, the final report presented in October, 2022, out of 8 areas of evaluation, the ICT sector increased revenue generation by 594% and government revenue increased from N41bn to quarterly to 408bn.

‘‘So, the position of the committee is that the ICT sector is already contributing more than enough to the economy and so, other sectors which have not been contributing should be encouraged to do the same.

‘‘We have also observed that all other sectors have been increasing their goods and services except the ICT sector. As of Oct. 2022, average price of GB was reduced from N1200 to N300. Is the only sector in the prices had been reduced by 80%. Only one company in the ICT sector use 32,000 generators and consume 1m liters of diesel every day. My argument is that the current economic situation in the country does not favour the increase of Excise Duty,’’

The Executive Vice Chairman of the Nigerian Communications Commission, Prof Umar Dambatta also commented that the decision made by the Presidential review committee on Excise Duty is a good step towards sustainable growth in the country’s telecom sector.

To this, he applauded the Minister and President for the initiative, while advising telecom consumers who have complaints about the services provided by network providers to make their complaints to the NCC.

SOURCE:https://brandspurng.com/2023/03/23/president-buhari-suspends-5-tax-levy-on-telecom-sector/

Cambridge Partnership for Education and HP launch an inaugural EdTech Fellowship. The Fellowship will bring together leaders working in Sub-Saharan Africa to advance digital transformation in education systems across the continent.

The HP Cambridge Partnership for Education EdTech Fellowship is a seven-month programme that aims to equip senior government officials, advisors and NGO/business leaders with the knowledge and skills to lead impactful EdTech transformations in their education system.

According to global research partnership EdTech Hub, “There is widespread recognition that technology will play an important role in the future of education in Africa, and [COVID-19] provided a ‘wakeup call’ to grapple seriously with this future”. However, the Global Campaign for Education also found that “Implementation of EdTech programmes during the COVID-19 emergency was often constrained and even led to failure when evidence was lacking as to why and how digital technologies facilitate desirable learning outcomes.”

The Fellowship aims to address this paradox. Due to start in July, the programme will be tailored to local contexts and delivered through a residential course in Cambridge, online study and 1:1 executive coaching. Full and 80% scholarships are available for senior government officials to study on the programme, including leaders from [insert country of release].

Leaders will benefit from the expertise and evidence-based understanding of academics from the Digital Education Futures Initiative (DEFI) at Hughes Hall, University of Cambridge, and NGO OpenDevEd, led by Dr Björn Haßler who is also Technical Director of the EdTech Hub. DEFI and OpenDevEd have been partners in the design and delivery of the Fellowship programme.

Leaders will graduate from the Fellowship as HP Cambridge Partnership for Education EdTech Fellows. They will be the first members of an alumni network who will work together, supported by experts, to overcome common challenges to improving education through technology – from connectivity and devices to the creation of digital content and growing learners and teachers’ digital skills.

“Digital transformation looks different in every country, but this programme will transform how we support one another to realise its potential. This is the first time Cambridge Partnership for Education has launched a fellowship programme, building on a long history of Cambridge convening leaders and thinkers to solve our biggest challenges. We are excited to bring together the public and private sectors to support evidence informed EdTech approaches that will improve the lives of millions of children. In uncertain times, it is more important than ever to help leaders use EdTech effectively to build more resilient education systems.” says Jane Mann, Managing Director at Cambridge Partnership for Education.

“At HP we believe that digital equity in education is crucial for the exercise of human rights and can only be achieved when every person has gained equitable and inclusive access to skills and knowledge, services and opportunities. The COVID-19 pandemic illuminated the extent of the challenges of digital access and literacy around the world that have always existed – and will continue to exist and grow if we do not work together to find solutions. The HP Cambridge Partnership for Education EdTech Fellowship is an example of our focus on bridging the digital divide across the continent, enabling Education Policy Makers and Leaders from across the public and development sectors to upgrade their skillset and support the educational transformation in Africa.” says Mayank Dhingra, Senior Education Business Leader, Southern Europe, Middle East and Africa at HP.

HP Cambridge Partnership for Education EdTech Fellows will be empowered to support colleagues and build capacity across their teams, with access to passes for a three-month moderated and certified online EdTech course that covers the basics of the full programme.

SOURCE:https://brandspurng.com/2023/03/23/hp-launch-edtech-fellowship-improve-learning-for-millions-across-africa/

The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has voted to increase the benchmark interest rate by 50 basis points to 18. per cent.

The CBN Governor, Godwin Emefiele, disclosed this while reading the communiqué of the second MPC meeting of the year on Tuesday.

Addressing journalists at the end of the two-day meeting in Abuja, Mr Emefiele, said the committee voted to keep the asymmetric corridor at +100 and -500 basis points around the MPR.

Analysts in the country had predicted the Central Bank of Nigeria and the MPC may not raise the lending rates at the end of the Monetary Policy Committee.

However, the governor stated the slight increase is to mitigate the effect of inflation and other economic issues.

The MPR has been on the rise since April 2022, when it was 11.50 per cent.

The rate impacts lending and inflation rates, and, when jacked up, consequently affects upward movement of prices of goods and services.

He said, The MPC committee voted to raise the MPR by 50 basis point to 18 per cent, retain asymmetric corridor at +100 and -500 basis points around the MPR.”


SOURCE:https://brandspurng.com/2023/03/22/cbn-increases-interest-rate-to-18-to-tackle-inflation/

One of the top-flight English Premier League clubs, Crystal Palace have pulled Roy Hodgson from retirement, making him head coach till the end of the season.

Crystal Palace which sits 12th on the premier league table and still facing threats of falling into the relegation zone has appointed 75-years old Roy Hodgson as head coach in replacement of Patrick Vieira, who spent less than two years as head coach of the club.Hodgson had insisted he would not return to the club after a brief spell with Watford last season, but he has now agreed to spend the remaining part of the season at Crystal Palace.
Hodgson commented about his return saying “It is a privilege to be asked to return to the club, which has always meant so much to me, and to be given the important task of turning the team’s fortunes around.

“Our sole objective now is to start winning matches, and to get the points necessary to ensure our Premier League status.

“Crystal Palace is known for its fighting spirit, and I have no doubt that all our supporters will fight with us, beginning with the visit of Leicester City a week Saturday.”

While the Chairman of the club, Steve Parish said “I would like to welcome Roy and Ray back to the club.

“We are obviously in a very challenging period but we believe that Roy’s and Ray’s experience, knowledge of the club and players, alongside Paddy can help fulfil the immediate requirement of keeping us in the league.”

SOURCE:https://brandspurng.com/2023/03/21/crystal-palace-recalls-roy-hodgson/

The idea of a smart home may seem like something out of a Hollywood movie but smart homes are available in Nigeria and even in Lagos and are rapidly gaining traction most especially in the real estate firm.



The Nigerian real estate sector is valued at N20trn according to recent reports by the Nigeria Bureau of Statistics (NBS).

The report also shows that the construction sector contributed 9.5% to the country’s GDP which is higher than the 7.95% which was recorded in the second quarter of 2022.
With real estate agents offer their clients smart-homes in Lagos and some other parts of the country. Smart-homes are automated homes that are usually powered by Internet connectivity, with AI-enabled features that control and monitor various functions in the house like lighting, temperature control, air quality, and other electrical or mechanical tasks necessary giving the residents of the house the much-needed comfort they need.

Some other smart homes now have voice-activated smart home assistants. Smart Hubs, Automated door locks with facial recognition, and many other internet-powered things.

Some of the real estate firms which offer smart homes are Savant Nigeria, Hausaba, Awtomeiddia, V2D Convergence, and Oak Homes which hopes to incorporate technology into its high-end luxury apartments.

According to reports, 78% of new construction will involve smart building automation and at least one feature of the Internet of Things (IoT), and the global market is projected to reach $66,546 million by 2027.

The price of this smart-homes which are rapidly springing up everywhere are usually designed as 1 or 2-bedroom homes and cost as much as N13M to N18M for 1 bedroom apartment and N23m to N27m for a 2-bedroom apartment and many are located in the luxury part of Lekki and other areas like Gbagada and Magodo.

The Managing Partner/CEO, of Knight Frank, Frank Okosun shared some insight on the next destination for the real estate sector and investors. He said In view of volatility in the equities market, real estate investors would be more inclined to invest in the capital market rather than keeping their funds unutilized.

“We expect to see a greater influence of digital technology on the delivery of real estate products and services. This will be evident in property developers becoming more interested in the supply of smart buildings, which are capable of lowering operating costs.

Also, there will be increasing automation of real estate service processes as the prop-tech space continues to widen. The continuous rural-urban migration will increase the demand for housing in urban centers. However, affordability will remain a problem due to potential rising inflationary pressure, which might erode the purchasing power of citizens without corresponding income growth.

While the advantage of owning a smart home may be much, there are some downsides to living in a smart home. One of the major disadvantages of smart homes is Internet outages, while most of the smart homes are situated in areas where there are rare cases of a power outage. However, in the case where there is a power outage, residents will experience a lot of inconveniences because the whole house is dependent on the internet to get many things to function. However, this could be managed if there is a backup, and this is a common feature in most smart homes, as they are fitted with suitable backups in case there is an outage.

Another disadvantage to smart-home hackers is. Smart homes are internet enabled and could be hacked and the whole house can be controlled by another person elsewhere remotely. However, securing your Wi-Fi network and updating your passwords is the best way to prevent hackers from gaining access to your house.


SOURCE:https://brandspurng.com/2023/03/16/why-lagosians-are-excited-about-smarthomes/

Bigi Premium Water brand of Rite Foods has continued in its strong commitment in promoting quality healthcare for Nigerians with the support of the Association of Community Pharmacists of Nigeria (ACPN) two-day Annual Summit aimed at tackling the challenges faced by pharmacists in the delivery of their services.

The ACPN Continuing Education Conference [CEC] 2023 themed ‘Overcoming Brain Drain Challenges in Community Pharmacy’ held in Lagos from Tuesday, 14 March to Wednesday 15, 2023 dwelt on several issues that would enhance the effectiveness of pharmaceutical services, strong collaboration among members of the association and enlightenment campaign on how common diseases can be addressed.

It was also in the furtherance of the association’s move to curtailing and discouraging the brain drain syndrome in the sector, where over 5,000 pharmacists have left the country in recent years for greener pastures in overseas countries.

Commenting on the ACPN’s annual event, the Chairman of the Lagos Chapter, Mr. Lawrence Ekhator, stated that the conference was targeted at updating pharmacists on recent trends in pharmaceutical practice. He said the summit which spans over 10 years, is also to empower the pharmacists and to protect the citizenry by giving them the right tools for pharmaceutical care throughout the communities they serve.

Eulogising Rite Foods’ Bigi for the sponsorship, Ekhator thanked the company for the great assistance in making the event successful, with its premium water produced with the best purification process, stating that it was a step in the right direction. “Our members are in all parts of Lagos and l hope the sponsorship is a veritable tool in making the brand available to the people through sustainable partnership with the association,” he affirmed.Bigi Premium Water Supports Association of Community Pharmacists For Nigerians’ Well-Being.

Earlier on, the Managing Director of Rite Foods, Mr. Seleem Adegunwa, avowed that powering the conference was one of the ways the company, through the Bigi Premium Water, has demonstrated that it cares about the well-being of Nigerians by reaching out to them for adequate healthcare initiatives.

He added that the consumers are on topmost priority to the company and would continue in its giant stride in sponsoring projects that keep them healthy and always refreshed with the various Bigi variants.

In her presentation at the conference, Assistant Brand Manager Bigi; Biola Aransiola, explained that the award-winning Bigi brand with its unique flavours is there for every moment, catering to its teeming consumers by revitalising them at all times. She avowed that the Bigi Premium Water is also well produced for a rejuvenating experience for healthiness, to keep Nigerians satisfied when tasty.

Aransiola pointed out that the Bigi products, likewise other Rite Foods products are produced with consumers in mind, in a Truly World-class factory with modern technology and up-to-the-minute infrastructure in line with global best practices.

In a similar health scheme, Rite Foods in 2021, aided the free breast and cervical cancer screening and treatment programme of Optimal Cancer Care Foundation for women in Lagos. The exercise saw medical experts from the Foundation offering free advice about the disease, its symptoms, causes, and prevention, together with free screening and treatment.

SOURCE:https://brandspurng.com/2023/03/17/bigi-premium-water-supports-association-of-community-pharmacists-for-nigerians-well-being/

Afrobeat giant, Damini Ebunoluwa Ogulu, popularly known as Burna Boy has expressed elation at the announcement that he will perform before the final of the 2023 UEFA Champions League on June 10 in Istanbul, Turkey.

The Afrobeat superstar has performed in similar shows but the Champions League kick off show in Istanbul seemingly has a special place in the mind of Burna Boy as UEFA are set to announce another singing sensation to co-headline the show alongside the Nigerian.

“As a huge football fan myself, I know it doesn’t get any bigger than the UEFA Champions League! That’s why I’m so excited to be performing on the Pepsi stage at this year’s final.

“Music and football are the ultimate combination, so you already know I’ll be bringing the vibes and making magic in Istanbul. The world ain’t ready for what we have in store!”, Burna Boy added.

Gustavo Reyna, Pepsi’s Senior Director of Global Marketing, added: “The UEFA Champions League Final is the stand-out date of the club football calendar, and Pepsi prides itself on marking the occasion with the very best entertainment spectacles.

“The newly named ‘Kick Off Show by Pepsi’ is going to be huge this year; we’re so excited to welcome Burna Boy, one of the world’s most exciting artists, to the Pepsi x UEFA Champions League stage and we can’t wait to see which fans are selected to feature as part of this truly unmissable performance.
”Burna Boy has won numerous awards and he has released six albums so far in his illustrious career.

He started out with LIFE in 2013, On a Spaceship in 2015, Outside in 2018, African Giant in 2019, Twice as Tall in 2020, before releasing another hit ‘Love Damini’ in 2022.


SOURCE:https://brandspurng.com/2023/03/17/burna-boy-to-perform-at-uefa-champions-league-final/

A new report from the National Bureau of Statistics (NBS) shows that consumers and firms operating in the Information and Communication Technology (ICT) space paid N631.09bn as tax in 2022.

This ranked IT as one of the biggest contributors to Value Added Tax and Company Income Tax in 2022.

Telecom consumers and other IT services consumers paid N268.84bn as consumption taxes for services like calls, SMS, data, and more, during the period under review.


Telecom companies and other IT companies paid N362.26bn as CIT. The government raked in a total of N5.34tn from CIT and VAT, of which the IT sector contributed 11.82 per cent.

According to the NBS, the IT sector is one of the major contributors to VAT and CIT.

It explained that the information and communication sector is composed of the activities of telecommunications and information services; publishing; motion picture, sound recording and music production and broadcasting.

In 2022, the telecoms sector contributed 82.17 per cent to the IT sector.

The NBS said, “In terms of sectoral contributions, the top three largest shares in Q4 2022 were manufacturing with 32.17 per cent; information and communication with 18.05 per cent and public administration and defence, compulsory social security with 9.87 per cent.”


For CIT, it stated, “In terms of sectoral contributions, the top three largest shares in Q4 2022 were manufacturing with 31.20 per cent; financial and insurance activities with 12.96 per cent, and Information and communication activities with 12.77 per cent.”

The growth of the digital economy led by the telecom subsector has spilled into increased revenue for the government.

In 2022, the sector contributed N12.32tn to real GDP and the total number of telecom subscriptions hit 222.23 million.

SOURCE:https://brandspurng.com/2023/03/14/fg-generates-n631-09bn-tax-from-ict-sector-says-nbs-report/

BrandSpur Nigeria reports that the commotion about naira scarcity and the fact that citizens find it difficult to make transactions upsurge in fintech apps’ usage with OPAY at the forefront.

In recent times, the naira redesign and subsequent cash shortage have made digital banking more challenging for Nigerians. Increased reliance on banking apps and USSD platforms has negatively impacted bank performance, putting strain on the already unsteady infrastructure of digital banking. Bank transfers often take longer than usual and failed transactions take up to ten days to be resolved.

However, the strain on the already unsteady infrastructure of digital banking has led to the popularity of OPAY and other fintech apps amongst small businesses and artisans.

For Nigerians, digital banking has become more difficult as a result of the naira redesign and the ensuing cash shortage. Bank performance has been significantly impacted by an increased reliance on banking apps and USSD platforms, placing stress on the already shaky infrastructure of digital banking. Bank transfers frequently take longer than expected, and the resolution of unsuccessful transactions can take up to ten days.

Traditional banks have been drowning in bad press, but this has given non-traditional banks, or fintechs, a chance to show off their strengths. OPay is one example.

The four-year-old platform has evolved from a standard fintech to one of the most reliable means of transaction currently available.

Femi Hansen, the PR & Communications manager for OPay, claims that the business staked on a cashless Nigeria and prepared a robust infrastructure.

“We have significantly invested in our payment infrastructure to ensure our system can withstand a cashless environment. We believe that peer-to-peer payments are the future of payments in Nigeria, so we were not caught unaware, we were prepared for new users and built the technology infrastructure that supports it,” he said.

Increased Transactions
The amount of transactions has dramatically increased for the organization, notably OPay to Opay transfers, which are simpler to handle.

The company, which currently has roughly 26 million members, has seen a rise in new users over the last two months and anticipates that trend to continue.

According to Hansen, the firm has benefited from the reform of the currency system.

“We have seen the strongest metrics, from transaction volume to DAU & MAUs. We currently have over 26 million app downloads, and in the last few months, we have gained a significant number of first-time users. We will keep growing as more consumers come to trust OPay as a reliable, fast, and safe platform.”

OPay has successfully infiltrated the core of the Nigerian market with a super app that offers consumers a single service to manage all of their payments in a simple, rapid, and secure platform, while not being the only Nigerian payment fintech with quick, efficient transactions.

OPay invested seriously offline marketing, and it has paid off at a critical time. It presently dominates Africa’s consumer-focused fintech market.

However, its growth is not without challenges.

“We have experienced some challenges in recent times because our infrastructure is resilient and we have been able to adjust quickly to transaction demand. However, most transactions have to go through other players whose infrastructure might not be as resilient as ours.

“We have seen some of this recently and that’s an ecosystem challenge that we have to address,” Hansen noted.

SOURCE:https://brandspurng.com/2023/03/14/nigerias-cash-crunch-stirs-fintech-apps-usage-amongst-with-opay-at-the-forefront/

With the cash crunch which has been caused by the Naira redesign policy by the CBN, it is expected that cashless transactions should be on the rise but the reverse is the case.
Multiple failed transactions have caused a sharp decline in the value of cashless transactions from N39.58trn to N37.67trn which is about 4.83% of what was recorded in January 2023.
This is coming on at a time when e-payment gateways recorded a sharp 41.29% month-on-month increase according to the data presented by the Nigeria Inter-Bank Settlement System. The recent data shows that in February, the e-payment solution was used 901.46 million times, while in January, it was used 638 million times. However, the increase in usage has now fallen in February, which shows an increase in the number of failed transactions.

The NIBSS has not updated its efficiency platform portal, which shows the number of failed transactions and other data reports, and it has been difficult to report the number of failed transactions as the report has not been updated since 2020.


The NIBSS gives reports on cashless transactions from the Nigeria Instant Payment System and Point of Sales terminals, which shows that the total of NIP in February fell to N36.79trn from N38.772trn in January.

However, the data from the NIBSS also showed that the value of PoS transactions grew from N807.16bn in January to N883.45bn despite the scarcity of cash recorded in that month. While the use of mobile transfers, which is one of Nigeria’s major payment gateway increased by 69.87% from 108.41 million times in January to 183.69 million times in February.

The usage grew quickly but transaction value only grew marginally by 7.88% from N2.37trn in January to N2.56trn in February and this shows the reality of many Nigerians in the month, who suffered multiple failures of mobile transactions.

The apex bank which announced the policy said “The maximum weekly limit for cash withdrawals across all channels by individuals and corporate organizations shall be N500,000 and N5m respectively.”

It also added that “Customers should be encouraged to use alternative channels (Internet banking, mobile banking apps, USSD, cards/POS, eNaira, etc.) to conduct their banking transactions.”

The increased pressure on the use of electronic payment has overwhelmed the banking sector, which has caused many customers to be stranded. Nigerians have taken to Twitter several times to tag banks and complain about failed transactions multiple times, which recently, the Vice President of the Nigerian Association of Small Scale Industrialists, Seun Kuti-George, disclosed to The PUNCH, “I made a payment to someone one morning and they did not receive the alert immediately.

“I had to leave the goods there until the next morning hoping that the fellow would get alert by then. If it was an emergency or a matter of life and death or a matter of contract that will be canceled, I would have lost that.”.

While many banks have faulted the NIBSS for not increasing the capacity to handle a large volume of transactions as the cause of the multiple failed transactions. A banker at First Bank, speaking anonymously disclosed that the NIBSS has experienced more downtime because of the pressure of the transactions.

According to the banker also, this downtime has been hindering the outflow and inflow of transfers. The banker added that the payment switch has to increase its capacity to be able to handle the pressure from the CBN’s policy.

While another source in the payment industry, also recently disclosed to The PUNCH that the multiple failed transaction is due to pressures on the system and a lack of robust infrastructure to handle the pressure.

“I don’t think we are ready for this. I think the infrastructure is not robust enough to carry out the volume of transactions we intend to do. With that said, I believe is over time, the infrastructure will catch up. This will probably happen because the CBN will put pressure on the banks and financial institutions to invest more.” The source said.

Experts have also stated that a lot of failing transactions are also a result of poor network infrastructure. The President of the Bank Customers Association of Nigeria, Dr. Uju Ogunbunka, disclosed to The PUNCH, “You know the banks do not provide network services. Based on what we found out, there was a failure in the network system.”

SOURCE:https://brandspurng.com/2023/03/15/multiple-failed-transactions-mounts-as-e-payment-falls-to-n37trn/

According to a recent report released by SAP Africa, which is titled ‘Africa’s Tech Skills Scarcity Revealed’, about 80% of Nigerian companies are experiencing a technology skills gap this year due to a brain drain that is being experienced among Nigeria’s huge workforce.

The reports detail the specific challenges and opportunities for African organisation seeking greater tech skills availability.
The reports also noted that only 53% of Kenyan organisations are expected to experience a skills gap in 2024 which is lesser compared to the 80% of Nigerian companies and 73% of South African organisations.

The survey carried out on Nigerian companies revealed that the companies suffered a negative impact due to the lack of tech skills, compared to 60% in Kenya and 78% in South Africa. Organisations in Kenya and Nigeria indicated that attracting new skilled recruits was the highest tech skill challenge they faced in 2023.

Cathy Smith, the Managing Director of SAP Africa, said that there is a need for urgent investment in skills development and training to ensure that Africa capitalizes on its increasing youth population.

“More than half of the world’s population growth between now and 2050 will take place in Africa, where 1.3-billion people are expected to be born by mid-century. With the correct investment in skills development, Africa’s economy could transition away from its reliance on natural resources to build the world’s future tech workforce, bringing untold economic and social benefit to the continent and its citizens.” She said

Smith added that the study also revealed that African organisations are still facing difficulties with attracting, retaining, and upskilling suitably skilled tech workers.

The research which was conducted among organisations in Kenya, Nigeria, and South Africa for the fourth quarter of 2022, disclosed that a lack of vital tech skills is having a negative effect on the continent’s digital transformation efforts. Four in five organisations that were surveyed all reported some negative effects from lack of tech skills, in which 41% of the employees reported leaving due to pressures of understaffing.
While other consequences face by the organisation includes not being able to meet client needs which was reported by 46% of the organisations, reduced capacity for innovation (53 per cent), and losing customers to competitors (60 per cent).

69% of organisations also reporteed that they expect to experience skills gap in the year ahead and according to the data, recruiting skilled new recruits, was the major challenge faced by African organisations, although the retention of skilled employees is better compared to attracting skilled recruits.

Organisation are repsonding to the tech skill challenge by ensuring they employ the ccorect tech skills needed in the orgaisation, 41% reported that upskilling existing employees would be a top priority in 2023, while 40% said they would be reskilling employees.

Cathy Smith also added that Companies are also adopting technology tools and flexible work practices to ensure they can attract, retain and mobilize the correct mix of tech skills,”

She also noted that “Seven in ten organisations currently use a human capital management or employee experience tool, while nearly half (45 per cent) of companies were open to remote work, although most want employees to be in the office at least some of the time. This new workplace dynamic will require leaders to co-create new models for work, with constant collaboration with employees to ensure alignment with company objectives and culture,”.

The study also uncovered that the most in-demand skills by organisations were cybersecurity and data analytics, developer and industry skills, and digital transformation skills. While 69% cited technical skills as an important attribute when recruiting and 66% said industry-specific skills were a top priority for them.

SOURCE:https://brandspurng.com/2023/03/11/80-of-nigerian-companies-lack-sufficient-it-skills-report/

The management of The Industry Newspaper organisers of ‘The Industry Summit/Awards’ has stated that some distinguished marketing communications professionals in the country would be conferred with some highest awards in this year’s event scheduled to be held on Friday, March 31st, 2023 in Lagos.

The year’s award is looking at the performances of 2022 and the top winners include Sir Steve Bamidele Omojafor, Chairman, STB-McCann Limited, Mr. Steve Babaeko, Group Chief Executive Officer, X3M Ideas, Dr. Felix King Eiremiokhae, CEO MABISCO/Oracle Experience, Mrs. Nkechi Ali-Balogun, CEO NECCI, Mrs. Bridget Oyefeso-Odusami, Head Marketing & Communications, Stanbic IBTC, Mr. Anthony Chiejina, Chief Brand Officer, Dangote and Mr. Adedayo Ojo, CEO Caritas.

Others are Mr. Rotimi Bankole, CEO SBI Stagwell, Mr. Olugbenga Victor Afolabi, CEO GDM Group, Chief Charles Azu Chijide, CEO Charella Group, Dr. Olalekan Fadolapo, Director General Advertising Regulatory Council of Nigeria (ARCON), and Mr. John Ehiguese, CEO Mediacraft Limited.

Sir Omojafor, an accomplished marketing and advertising practitioner is unanimously voted The Industry Doyen of Advertising for 2022, the category won by Dr. Biodun Shobanjo last year for 2021 Awards. Omojafor, a former Chairman of Zenith Bank Plc has unarguable accomplishments in a career span over four decades.

Coincidentally, Omojafor would chair this year’s summit, which parades some of the best brains in the industry that would discuss issues in data management and government policy as it affects the manufacturing sector.

In another category, Dr. Eiremiokhae has emerged CEO of the Year in a very keenly contested category. He won the category because of the work has put in to grow and expand Mayor Biscuits Company (MABISCO) during the year under review.

Dr. Eiremiokhae is a renowned integrated marketing communications professional who majors in experiential marketing but branching out to build one of the biggest beverage companies in Nigeria and made extensive strides in such a few years is monumental, said Chairman of the Industry Awards Panel, Ms. Clara Okoro.

In another development, The Industry Lifetime category was renamed ‘The Industry ALL STAR’ and winners emerged after a painstaking evaluation and analysis of each recipient over the course of 10 years and above on their roles in advancing the growth and development of the imc industry.

The winners in this category date back to 2019 which are Mr. Udeme Ufot, GCEO, SO&U, Mr. Nnaemeka Maduegbuna, Chairman, C&F and Mr. Lolu Akinwunmi, Chairman Prima Garnet. 2020 winners are Mr. Jimmy Awosika, Executive Vice Chairman, Troyka Holdings, Chief Yomi Badejo-Okusanya, GCEO, CMC Connect, Mr. Tolu Ogunkoya, RGEO, OMG WeCA and Dr. Eiremiokhae.

The 2021 winners were Mr. Emeka Okeke, CEO Dentsu Mediafuse, Engr. Dozie Mbanefo, CEO New Crystal, Dr. Onyekachi Onubogu, CEO Frutta Juice & Services, Dr. Phil Osagie, CEO JSP Communications, Mr. Kunle Onime, CEO Marketing & Promotion Concepts Limited and Mr. Enyi Odigbo, Chairman, CASERS Group.

According to Ms. Okoro these practitioners were carefully chosen and they represent some of the brightest practitioners who have made a huge impact in the industry and they deserve to be rewarded with this laurel.

“This is the first time the category would be honouring 10 practitioners and there are other categories ranging from corporate, individual, brand and legacy categories,” she added.

Speaking on this year’s event, the convener, Mr. Goddie Ofose stated that despite the several challenges faced by businesses last year, imc organisations have continued to hold their grounds as well as sustain the high standard occasioned by digitalization and technology.

“Professional, individual, corporate and product brands deserve to be celebrated at the time because to whom much is given much is expected.”

The keynote speaker for the 2023 summit is Tolu Ogunkoya of OMG WeCA and co-speaker is Ekuma Eze of Nigerian Bottling Company. Both would be speaking on the papers: Data to Action: How Marketers Can Rationalize Performance Measurement & Drive Efficiencies with Intelligence’ and ‘Fast Moving Consumer Goods (FMCG): Impact of Government Policy Shift on the Industry, Consumers respectively.


SOURCE:https://brandspurng.com/2023/03/13/omojafor-eiremiokhae-babaeko-others-honoured-at-the-industry-awards4-0/

Award winning Nigerian actress and fitness enthusiast, Kate Henshaw recently became the brand influencer for Technogym Nigeria. Kate broke the news to her more than 2.9M million Instagram followers on March 8, 2023.

As a brand influencer, Kate will help drive more knowledge about Technogym, the world leader in premium fitness and wellness equipment. Kate will also help sensitize Nigerians on the need to live a healthier lifestyle.

Kate will join Ekemini Ekerette, AKA ‘Kemen’, who is the brand ambassador of Technogym Nigeria and the first international master trainer in Nigeria to drive Technogym’s message ‘Let’s Move for a better World’.

Announcing the partnership, Kate said ‘’Say hello to my new family BlackPelicanLimited and look forward to me continuing to advocate for good health & wellness using their equipment, which is top notch and of the highest quality. Fasten your seat belts because it’s going to be an invigorating ride’’.

Black Pelican Limited is the sole distributor of Technogym products and services in Nigeria.

SOURCE:https://brandspurng.com/2023/03/09/kate-henshaw-becomes-brand-influencer-for-technogym-nigeria/

The Honourable Minister of Sports and Youth Development, Mr. Sunday Dare is to be conferred with a ‘Special Recognition Award’ in the Republic of Maldives in recognition of his contribution to the development of sports in Nigeria and the African region.


The Minister of Youth, Sports and Community Empowerment, Republic of Maldives, Ahmed Mahloof, stated that the award is being conferred on Sunday Dare, not only for his contribution to the development of sports in Nigeria but to the African region as a whole.

“In recognition of the work, you have carried out for the development of sports in your country and African region, we will be conferring the ‘Special Recognition Award’ on your Excellency,” he said


The conferment ceremony which will be held in the Republic of Maldives on the 16th of March, will be attended by the Maldivian President, Ibrahim Mohamed Solih, world renowned athletes as well as Maldivian athletes, among others.


It will be recalled that in recognition of his stellar performances since assumption of office as Minister of Sports and Youth Development, Mr. Dare has bagged various awards including the Award of Excellence in Public.Service, an award given by President Muhammadu Buhari, the National Telegraph Most Innovative Minister Award, the Blueprint Sports Icon of the Year Award, Youth Award in the United States of America, African Illustrious Minister of the Year Award among many others.


Apart from the various awards, Dare has initiated a lot of programmes like the Adopt initiative as well as produced the National Sports Industry Policy, the 10 year Football Development Masterplan, the Talent Hunt Program, the return of the long and middle distance races, and the cross country race in Nigeria after almost 40 years in the doldrums. He also embarked on the rehabilitation of sports facilities across the country, efforts that have impacted positively on Nigerian sports.


Under Dare’s leadership, Nigeria posted her best ever Commonwealth Games performance in August 2022 and produced her first ever World Record holder and World champion (in athletics) in Tobi Amusan.

You would also recall that Nigeria had her best Olympic Games performance in 13 years with 2 Medals at the 2020 Tokyo Olympics.

SOURCE:https://brandspurng.com/2023/03/09/maldives-to-confer-sunday-dare-with-special-recognition-award-for-sports-development/

Interswitch, Africa’s leading integrated payments and digital commerce company has been named the Best Employer Brand – Sub-Saharan Africa at the LinkedIn Talent Awards.

The prestigious award was announced at the LinkedIn Talent Awards ceremony which was held at the Microsoft offices in Johannesburg, South Africa on Thursday, March 2, 2023.

The LinkedIn Talent Awards recognizes companies around the world that are leading the future of work through innovation, creating inclusive workplaces, building strong employer brands and actively engaging talent communities on platforms like LinkedIn.

Interswitch was adjudged to have met all the criteria and emerged as the winner of award for its outstanding efforts to attract and retain top talent, as well as its commitment to creating a positive work culture and supporting employees’ professional development.

Commenting on the award, Franklin Ali, Chief Human Resources Officer, Interswitch Nigeria, said the company is delighted to be recognized for its talent management efforts and remains committed to sustaining a positive work environment that promotes innovation, creativity, and collaboration.

His words, “We are thrilled to be named the Best Employer Brand in Sub-Saharan Africa by LinkedIn. It is fulfilling to be able to do what we do every day here at Interswitch; for and with our employees, customers, partners and indeed our thriving community of almost 300,000 individuals on LinkedIn. We have been empowered to showcase our brand, culture, and ethos to the wider world outside Interswitch, as part of our quest to keep inspiring Africa to greatness”.

Interswitch has established itself as a leading employer in the African digital payments and commerce industry, with a reputation for attracting and retaining top talent. The company offers a range of employee benefits and initiatives, including hybrid working arrangements, spousal allowances, child education support, and opportunities for career advancement.

BrandSpur Nigeria reports that the recent LinkedIn Talent Award adds to the growing list of accolades received by Interswitch over the years.

SOURCE:https://brandspurng.com/2023/03/06/interswitch-emerges-best-employer-brand-at-linkedin-talent-awards/

The Lagos State University Teaching Hospital (LASUTH) in collaboration with “Friends of LASUTH”, in giving back to the society has reached out to the Ojokoro area of the state by providing free cataract surgery to residents of the community.


The free Cataract Surgery was an offshoot of a free medical outreach the hospital held earlier in the year. During the outreach, over 500 beneficiaries were screened and 48 people were diagnosed with cataract. Subsequently, they were scheduled for free cataract surgery at LASUTH. This effort is aimed at improving the quality of life of Ojokoro residents, under the leadership of the Lagos State governor, Mr. Babajide Olusola Sanwoolu and his Deputy, Dr. Kadri Obafemi Hamzat, in line with the THEMES agenda of the Governor.

The Chief Medical Director, Professor Adetokunbo O. Fabamwo, during his welcome address noted that LASUTH was setup to offer advanced medical care and over the years, the government of Lagos State had invested a lot of funds in LASUTH, to achieve this vision. He said the financial investment became more exponential in the last four years of Governor Babajide Sanwoolu. Mr Governor has shown exceptional interest in the growth and development of the hospital, he also approved the recruitment of the requisite specialised personnel.

The CMD further stated that the objective behind organizing the free cataract surgery programme is the need to give back to the society. He explained that the hospital management deliberately chose eye disorders among other conditions because cataract is one of the main causes of blindness.

The Head of Ophthalmology Department, LASUTH, Dr. Rosemary Ngwu said the essence of the surgery is to complete the medical process the hospital started in February. She said cataract is one of the causes of blindness if left untreated. She emphasized that regular eye screening is one of the ways to curb the disease.

She also noted that the beneficiaries expressed their excitement at being chosen for the surgery which is at no cost and they are particularly grateful to Mr. Governor, Babajide Sanwoolu, for empowering LASUTH to carry out the surgeries.

One of the beneficiaries, Alhaji Akanji Adetunji appreciated the efforts of the Lagos State Government and the Management of LASUTH. He said, “the focus on healthcare in the state has improved and I am fortunate to be a beneficiary.” He implored the government and LASUTH Management not to rest on its oars as more people all over the metropolis still need access to better healthcare.

The Director of Hospital Administration and Human Resources, Mr. Kehinde Gbajumo, delivered a vote of thanks

Many thanks for your support always.

SOURCE:https://brandspurng.com/2023/03/07/lasuth-holds-free-cataract-surgery-for-residents-of-ojokoro-community/

Three years after the world began to shut down as COVID-19 took hold, the UN and other partners will gather in Doha, Qatar, to deliver a historic new compact to support the countries whose vulnerabilities the pandemic most exposed.

The conference of Least Developed Countries or LDCs takes place every 10 years and this year’s meeting from 5 to 9 March 2023, known as LDC5, will focus on returning the needs of the 46 designated countries to the top of the global agenda and supporting them as they strive to get back on track to sustainable development.

1. What is a Least Developed Country?

The Least Developed Countries (LDCs) are countries listed by the United Nations that exhibit the lowest indicators of socioeconomic development across a range of indexes. All LDCs have a gross national per capita income (GNI) of below USD$1,018; compare that to almost $71,000 in the United States, $44,000 in France, $9,900 in Turkey and $6,530 in South Africa according to data from World Bank.

These countries also have low scores on the indicators for nutrition, health, school enrolment and literacy and high scores for economic and environmental vulnerability, which measures factors such as remoteness, dependence on agriculture and exposure to natural disasters.

There are currently 46 LDCs, the vast majority of which are in Africa [see box below]. The list is reviewed every three years by the UN Economic and Social Council. Six countries have graduated from LDC status between 1994 and 2020.

2. What are the challenges facing the least developed countries?

Today, the 46 LDCs are home to some 1.1 billion people, that’s 14 per cent of the world’s population, and more than 75 per cent of those people still live in poverty.

More than other countries, LDCs are at risk of deepening poverty and remaining in a situation of underdevelopment. They are also vulnerable to external economic shocks, natural and man-made disasters, communicable diseases and crucially climate change.

Currently, the planet is on course to warm by about 2.7°C this century, which would devastate LDCs. These countries have contributed the least to carbon emissions, and yet face some of the highest risks from climate change.

Meanwhile, LDCs are among those most affected by COVID-19; all but eight experienced negative growth rates in 2020 and the pandemic fall-out is predicted to last longer than in richer countries.

Debt is a major problem for all LDCs: four are classified as in debt distress (Mozambique, Sao Tome and Principe, Somalia and Sudan) and 16 LDCs are at high risk of debt distress.

As such, LDCs require the highest level of attention from the international community.

3. How can the United Nations and the international community help LDCs?

The UN system’s efforts to reverse the increasing marginalisation of LDCs in the global economy and to put them on a path to sustainable growth and development date back to the 1960s.

Since then, the UN has paid special attention to LDCs, recognising them as the most vulnerable in the international community and granting them certain benefits including:

Development financing: notably grants and loans from donors and financial institutions.
Multilateral trading system: such as preferential market access and special treatments.
Technical assistance: notably, towards supporting trade.

The first LDC conference was held in Paris, France in 1981 and LDC5, marking the 50th anniversary was due to be held in March 2022, but was postponed to this year due to COVID.

4. What is the Doha Programme of Action?

The Doha Programme of Action (or DPoA, for acronym lovers!) is the development road map for LDCs agreed in March 2022.

It includes six key focus areas:

Eradicating poverty and building capacity.
Leveraging the power of science, technology, and innovation to fight vulnerabilities and to achieve the SDGs.
Supporting structural transformation as a driver of prosperity.
Enhancing international trade of LDCs and regional integration.
Addressing climate change, environmental degradation, recovering from COVID-19 pandemic and building resilience against future shocks.
Mobilizing international solidarity and reinvigorating global partnerships.
The full implementation of the DPoA will help LDCs to address the COVID-19 pandemic and the resulting negative socio-economic impacts and enable them to get back on track to achieve the SDGs including addressing climate change.

The full text of the Doha Programme of Action is available here in the 6 UN official languages.

5. What can we expect from LDC5?

The UN, LDCs, Heads of State and Government, development partners, the private sector, civil society, parliamentarians, and youth will come together to agree partnerships, commitments, innovations and plans in an effort to reach the SDGs.

The UN Secretary-General is due to address the conference and has already highlighted the importance of supporting LDCs.

“The Doha Programme of Action reminds us that global recovery depends on LDCs getting the support they need. They need bold investments in health, education and social protection systems — all the resources required to fully implement Agenda 2030 and the Sustainable Development Goals.”

As LDCs take the first step towards those goals, they will meet certain targets which will enable them to graduate from the least developed country status.

Six countries have gone through this process: Botswana (in 1994), Cape Verde (2007), Maldives (2011), Samoa (2014), Equatorial Guinea (2017), and Vanuatu (2020).

List of Least Developed Countries:

The following 46 countries were listed as LDCs by the UN as of March 2023:

Africa (33): Angola, Benin, Burkina Faso, Burundi, Central African Republic, Chad, Comoros, Democratic Republic of the Congo, Djibouti, Eritrea, Ethiopia, Gambia, Guinea, Guinea-Bissau, Lesotho, Liberia, Madagascar, Malawi, Mali, Mauritania, Mozambique, Niger, Rwanda, Sao Tome and Principe, Senegal, Sierra Leone, Somalia, South Sudan, Sudan, Tanzania, Togo, Uganda, and Zambia
Asia (9): Afghanistan, Bangladesh, Bhutan, Cambodia, Lao People’s Democratic Republic, Myanmar, Nepal, Timor-Leste and Yemen
Caribbean (1): Haiti
Pacific (3): Kiribati, Solomon Islands and Tuval


SOURCE:https://brandspurng.com/2023/03/05/5-things-you-need-to-know-about-worlds-least-developed-countries/

Middle East Energy, the leading energy industry event in the Middle East and Africa (MEA) region, will be making a highly-anticipated return to the Dubai World Trade Centre from 7 – 9 March 2023.

Featuring the largest and most innovative power companies who will showcase the latest energy trends from smart solutions to renewable & clean energy, Middle East Energy will provide a unique platform for energy leaders to debate and shape the future of the energy landscape.

Organised by leading global exhibitions organiser Informa Markets, the 48th edition of the event will bring together buyers and sellers from across different countries to explore the latest advancements in energy products and solutions. It will provide unmatched opportunities to network with international energy suppliers, discover products and solutions that are changing the energy landscape, and build long-lasting business relationships.

At the forefront of the event is the mission to guide the MEA region through the energy transition in order to build resilient energy systems and infrastructures. The global energy transition holds new promise for Nigeria’s economic and social development, with renewable energy and other emerging areas offering robust growth potential. Middle East Energy will explore the unique opportunity to merge economic development and climate action priorities in Nigeria, Africa’s largest economy and one of the world’s first true just transitions.

Ade Yesufu, Exhibition Manager, Middle East Energy, in his comments about the mission to transform energy infrastructures across the MEA region said: “The value of Middle East Energy to Nigeria and the MEA region is its ability to gather all the key players in the global energy sector under one roof to showcase and discover thousands of energy innovations and solutions. Over the years, the event has been instrumental in driving transformation across energy industries as it offers a platform for unmatched opportunities in terms of engagement, networking, and investments. From uncovering solutions to critical business challenges to connecting buyers to energy product suppliers, Middle East Energy is a full-service channel to transform the energy sector and drive energy transition globally.

With over 900 exhibiting companies representing 57 countries and a 25,000+ global audience, participants at Middle East Energy will explore insights on the future of alternative energy solutions that will help in delivering more efficient and effective power systems. Among the featured exhibitors are leading international industry players such as Alfanar, Baudouin, Riyadh Cables Group, Ducab, LTC Group, Bahra Electric, Perkins, Riello, Stamford | AvK, Lucy Electric, and Eaton.

Afrah Packirsaibo, Conference Director, Middle East Energy, also underscored the importance of the event in driving growth in the industry. She said, “The theme guiding this year’s event focuses on implementing solutions to modern energy challenges. All the solution providers and innovations to be explored at Middle East Energy are powered to drive the energy transition forward whether that is through energy efficiency, decarbonisation, digitalisation, or enabling critical infrastructure to be future-ready. The conferences serve as a platform to uncover success stories, case studies, learnings, and actionable best practices that can be implemented into business practices and corporate environments to drive sustainable growth. It is a unique opportunity for stakeholders in Africa’s energy ecosystem to network with key players in the industry, driving collaborations, partnerships, and knowledge-sharing that will transcend the show.”

The three-day event will also feature conferences that will provide a platform for knowledge sharing, support relationship building, and uncover solutions to some of the most pressing challenges faced by the energy sector. These include a CEO roundtable, a Technical Seminar, and the Intersolar Conference. In addition, there will be the launch of the Strategic Conference, a high-level forum exclusively focused on unpacking the complex opportunities and challenges for senior decision-makers in the energy and utilities sector in the Middle East and Africa.

A panel session during the Strategic Conference is dedicated to spotlighting the perspectives from Nigeria on energy transition, as well as to explore the challenges and opportunities for natural gas in the global energy transition. Speakers on the panel include Engr. Abubakar Ali-Dapshima, Director, Renewable & Rural Power Access Department, Federal Ministry of Power; Olakunle Williams, Chief Executive Officer, Tetracore Group; Sule Abdulaziz, Chairman of the Executive Board, West African Power Pool and the Managing Director, Transmission Company of Nigeria; and Sowunmi Olabode, Senior Legislative Aid to the Senate President, National Assembly of Nigeria. In addition to this, the Strategic Conference will also address energy transition goals across other African countries including Egypt, Kenya, Zambia, etc.

SOURCE:https://brandspurng.com/2023/03/02/middle-east-energy-returns-to-guide-energy-conversations-across-nigeria/