THE Nigerian Stock Exchanged (NSE) rebounded on Tuesday after investors lost N116 billion in the previous day’s trading session.


A look at the major market indicators indicated that the All-Share Index (ASI) gained 378.04 points to close at 36,962.48 points, while the market capitalisation added N130.3 billion to finish at N12.7 trillion, leaving the Year-to-Date gain to 37.54 per cent.

Nestle chalked up N20.19 kobo to close at N1220.20 kobo per share, while Total Plc appreciated by N11.40 kobo to finish at N239.51 kobo per share.

Dangote Cement expanded by N9.28 kobo to settle at N224.90 kobo per share, Forte Oil moved up by 50 kobo to end at N50.50 kobo per share, and NASCON consumed 48k to close at N13.50 kobo per share.

Like the previous day, the market breadth closed positive with 22 gainers against 21 losers led by Mobil, which depreciated by N11.25 kobo to settle at N213.81 kobo per share.

It was closely followed by Conoil, which lost N3.30 kobo to end at N30.59 kobo per share, and Flour Mills of Nigeria, which depreciated by N1.15 kobo to finish at N29.85 kobo per share.

Furthermore, Zenith Bank shed 95 kobo to close at N23.5 kobo per share, while UACN went down by 80 kobo to wrap the day at N15.70 kobo per share.

However, the volume and value of shares exchanged at the market on Tuesday closed lower than on Monday.

A total of 244.3 million shares worth N3.7 billion were traded today in 3,829 deals compared with 368.4 million units valued at N6.3 billion executed yesterday in 3,729 deals.

A breakdown of the day’s trade showed Livestock emerging the most traded equity, accounting for 101.2 million units sold for N101.12 million.

It was followed by Guaranty Trust Bank, which traded 16.5 million shares worth N670.5 million, and United Bank for Africa, which transacted 15 million units valued at N141.3 million.

In addition, Sterling Bank exchanged 13.5 million shares worth N13.5 million, while Dangote Sugar traded 8.5 million shares at N110.9 million.

SOURCE: https://brandspurng.com/stock-market-rebounds-as-investors-gain-n130-3bn/

For the contemporary tech-smart population, a laptop is often regarded as more than just a work tool. Many rely on the laptop for multi-faceted purposes spanning social, entertainment, educational and business-related needs. This makes it imperative for the right decision to be made when shopping for a new device or a replacement unit for your old laptop.


According to the Research and Development Unit of Yudala, Nigeria’s fastest growing composite e-commerce outfit, here are major things to look out for when shopping for a new laptop.

1.Size: Gone are the days when laptops weighed a ton and took up so much space. On-going advancements in the sphere of computer manufacturing has seen a lot of refinements in laptop sizes. For students and busy executives, portability is a core requirement. The easier it is to fit your laptop PC into a small bag, the better. Therefore, a laptop with a screen size between 12.5 – 14 inches and weighing between 1 – 1.5kg fits the bill. When shopping for such a portable device, it is often best to go for a notebook. A notebook is a personal computer that foregoes some functionality to remain light-weight and small. Notebook computers are sleek, typically weigh less than five pounds and are small enough to fit easily into your briefcase or a back-pack. An Ultrabook also falls into this category as they are portable and light-weight.

2.Processor Speed: Processor speed is a major selling point to look out for when shopping for a new laptop. Most computer applications require that the computer system meets minimum requirements in order for the installation to run. One of those requirements is processor speed. Processor speed measures (in megahertz or gigahertz; MHz or GHz) the number of instructions per second the computer executes. Intel’s Core-based processors including Core i3, Corei5 and Core i7 are usually the best bet for computing power as these processors deliver top performance.

3.Screen quality/Resolution: Considering the amount length of time the average user spends working on a laptop, screen quality is a factor worth taking into cognizance when buying a laptop. The harsh glare from grainy laptop screens may pre-dispose users to side-effects as constant staring at the screen may result in redness, itching and blurring of the eyes, or headaches and migraines, in extreme cases. Touch-screen laptops, many of which are glossy, may also not be a good choice as these throw back a lot of reflections, thereby putting the eyes under considerable strain. Closely related to this, you must consider the resolution of the laptop before making the buying decision.

If you fall into the class of heavy users who work on their laptop for upwards of eight hours in a day, it is more advisable to go for a High Definition (HD) screen with resolution of 1600 x 900 or higher.

4.Random Access Memory (RAM): Random Access Memory (RAM) is a form of computer data storage which stores frequently used programme instructions to increase the general speed of a system. Depending on the type of laptop you wish to buy, a RAM of between 2G – 4GB and upwards will be required to get your system working optimally. Memory speed refers to the amount of time that it takes the RAM to receive a request from the processor and then read or write data. Generally, the faster the RAM, the faster the processing speed of your laptop. In other words, with a faster RAM, it is easier for you to use the laptop for your multimedia or multi-tasking activities. RAM speed is measured in Megahertz (MHz), millions of cycles per second, so that it can be compared to your processor’s clock speed.

5.Battery: Bearing in mind the peculiar power supply challenges in the country, you are better off investing in a laptop with a strong battery that can guarantee at least up to 10 hours of battery life on average use. For a notebook, a battery capacity of 10,000mAH/3.7V or higher is adequately sufficient to begin with, especially as both the total charging

SOURCE : https://brandspurng.com/6-features-to-look-out-for-in-a-new-laptop/

The Coordinator of natnudO Foods’ broiler out-grower scheme tagged “natnuPreneur”, Mr. Gbolade Adewole, has disclosed that farmers registered under the six- seven week broiler production scheme, have consistently enjoyed between 7.5% and 15% profit on investment per cycle. With a potential to conclude 5 cycles per year, efficient farmers stand to make between 37.5% – 75% profit per annum, making natnuPreneur “broiler out-grower” the most profitable poultry scheme in the country.


Adewole made the revelation while addressing journalists at a press briefing on Tuesday, August 15, 2017 in Lagos.

He also disclosed that between October 2014 and July 2017, poultry farmers registered under the three year ‘pilot phase’ have reared over 4 million birds and the firm has off-taken birds to the value of over 4 billion naira.

Mr. Adewole stated that the natnuPreneur initiative is not only in the business of providing a ready market for broiler farmers, but also in ensuring that they are consistently in business and that they make profits that can be sustained consistently over time.

natPreneur
natPreneur

“We treat our farmers’ farms as our own and invest a lot of time in ensuring their poultry businesses are run with global best practices as we run and manage ours, because we believe that our success is closely tied to the success of our farmers”.

“Our vision is to create passionate, knowledgeable, and wealthy poultry farmers nationwide through sustained profitability”

“It is not enough to help farmers achieve profitability after just one cycle. We have heard of many out-grower schemes in the past where farmers make millions but couldn’t retain it afterwards. What we are most concerned about is that the profit our farmers make increases and is sustained. In other words, we make and retain broiler millionaires through frequent training on poultry management processes and continuous monitoring/supervision of farm activities”

He further emphasized, “We help our farmers understand the dynamics of poultry business through effective and regular training, monitoring and mentorship. We also help them increase efficiency of production by taking them through good management practices on how to manage their resources, using our Net profit calculator to understand the details of the economics of broiler production, and how to reduce mortality of birds”.

He further said that in their three years of operation, they have been able to increase the capacity of their farmers in terms of number of birds stocked, thereby making them grow profitably.

“natnuPreneur has a standard operating manual used in monitoring optimal farm management, such that, lapses in standard processes are quickly noticed and brought to the attention of the farmer. Aside from this, we pay weekly visits to farms to monitor their progress and offer business and technical advice when needed. These activities have helped to achieve the success level recorded by our farmers so far.

According to him, “these processes are what distinguish natnuPreneur from other broiler out-grower schemes the country has witnessed in the past”.

In terms of societal impact, Adewole pointed out that natnuPreneur has created thousands of direct and indirect employment across the country.

“natnuPreneur has directly employed 150 graduates, working as extension officers (Farmer Satisfaction Representatives, in the Feed mill, hatchery and abattoir) and there are plans to recruit 60 more to manage the increase in capacity. Presently, the initiative indirectly influences the employment of over 5,000 people, who work at various levels with farmers and farmer cooperatives”.

“There is a potential to have additional 1 Million people, directly working with natnuPreneur in different capacities, within the entire value chain (Feed Mill, Hatchery, Logistics and transportation, Chicken processing, Chicken distribution/sub distribution and our Retailers, called natnuPreneur Seller” He said.

He further revealed that the scheme, which has engaged several small and medium scale broiler poultry farmers, is intended to help boost supply of high quality locally bred chicken for consumption across the country, making quality chicken available as well as affordable to all Nigerians.

Adewole revealed that the credibility of the scheme, has over the years, earned them partnership with many commercial banks like Sterling bank, Heritage bank and Jaiz bank, as well as many microfinance banks in the country, while adding that the scheme has also attracted the Anchor Borrower programme of the Central Bank of Nigeria (CBN) where we have partnered with Bank of Agriculture (BOA), Nigeria Incentive Based Risk Sharing System for Agricultural Lending (NIRSAL) and Bank of Industry (BOI).

“We have collaborated with these institutions and shared resources in the process. The learning, data gathered and analyzed over this period has been used constantly to optimize our processes and improve our systems. This is then feedback into our systems and in house application developed specifically to monitor our performance”.

He then concluded that the NatnuPreneur scheme is set to reposition poultry out-grower service in Nigeria by supporting the establishment of new broiler farms and expanding existing ones in the nooks and crannies of the country.

While also addressing newsmen, Dcn. Toromade Francis, General Manager, Policy and Strategy, Amo Group and Mr. Oloruntoba Emmanuel, General Manager, Amo Byng, a member company of Amo Group called on governments at all levels to be more proactive in curbing the menace of smuggling chicken products into the country and also support the local production of maize and soya, adding that if this is done, the initiative will be able to create more employment opportunities, absorb over 10 million people and add significantly to the overall GDP of the nation.

Sharing their experiences, two long term natnuPreneur farmers, Dr. Robinson of Kadapo farms in Kwara State and Mrs. Tomori of Honey Dew farms, Oyo State, made highly complementary comments and confirmed the claim made by the AMO FARM’s team.

SOURCE: https://brandspurng.com/natnupreneur-farmers-enjoy-37-5-profit-per-annum-on-investment/

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Unilever, one of the oldest conglomerates in Nigeria, has concluded plans to invest about 10 million euros (N4.3billion) in a new plant in the country, as part of its expansion in Africa’s largest economy.


This hint was dropped by the Unilever Executive President/CEO, Mr. Luc-Olivier Marquet during an interview with the MARKETING EDGE team at International Convention Centre (ICC), Durban, South Africa, venue of 2017 Loeries Creative Week.

The Unilever boss who delivered a powerful paper on ‘Creativity and the Role of Major Stakeholders in Building the Brand,’ charged the African Creative people to be more Afrocentric in telling the African story through their creativity.

The new plant is to involve the manufacturing of Blue Band, its flagship margarine brand, which is in high demands in the country. The move will also help the company to further deepen its presence.

Unilever’s expansion plan will make the brand maintain its leadership position in the market, meet growing margarine demands in the country and maintain its competitive edge amongst competitors like Blue Bonnet, Chiffon Margarine and others.

Market analysts believe Unilever’s expansion plans is one of the reasons for its subsidiary’s recent decision to approach the Nigerian Stock Exchange (NSE) to raise about N58.851billion fresh capital through Rights Issue. In the application, Unilever Nigeria will be issuing 1,961,709,167 ordinary shares of 50 kobo each at N30.00 per share to shareholders on the basis of 14 new shares for every ordinary shares held.

The Chairman of Unilever Nigeria, His Majesty Nnaemeka Achebe, the Obi of Onitsha had during its recent Annual General Meeting said the company’s performance showed its commitment to grant shareholders returns on their investments.

The conglomerate rolled out an impressive second quarter 2017 result showing a revenue growth of 58 per cent and a jump in net profit by a massive 3873 per cent Year-on-Year (YoY). Also, it’s quarter-on-quarter (QoQ) review showed a moderate growth rate in revenue at 3.4 per cent while net profit increased by 29.4 per cent. But both the revenue of N22.9 billion and net profit of N2.1 billion were ahead of most analysts’ estimates.

While its revenue continued to benefit from the increase in the prices of key products, recent results suggest that the company is increasing its market share.

There was particularly the recovery in the Personal Care division, wherein revenue growth was 53% in H1. Revenue in this category grew by 73% y/y and 1% q/q in Q2. Revenue in the Home Care division also grew by 77% y/y and 17% q/q, and while Food revenue declined by 2% q/q, it grew by 24% y/y during the review period,” they had stated. Another positive surprise from the second quarter result is the strong rebound in gross margin to 33.2 per cent, from 28.4 per cent in Q1’17, 27.9 per cent in Q2’16, and above analysts’ 28 per cent forecast.

Unilever is a Dutch-British transnational consumer goods company, co-headquartered in Rotterdam, Netherlands and London, United Kingdom. Its products are available in 190 countries.

Industry analysts linked the quick margin recovery in Nigeria to pricing actions, positive mix, and more importantly, exchange rate-linked cost savings. They reasoned this is why the conglomerate was ready to open more investment frontiers in the country.

SOURCE: https://brandspurng.com/unilever-plans-n4-3b-new-investment-in-nigeria/

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The British Museum will host a summit along with other European museums to discuss the return of bronze artifacts looted in 1897 from the kingdom of Benin, now southern Nigeria.


The museum boasts the second largest collection of art from the Benin kingdom after the Ethnological Museum in Berlin. It will conduct negotiations with Nigeria and Benin about returning the items which are expected to go on permanent display in Benin City.

Benin bronze plaque estimated to date back to the 16th century. (Commons/Michel Wal).Benin bronze plaque on display at the British Museum. Estimated to date back to the 16th century. (Commons/Michel Wal).
In the late 19th century, Britain sought to wipe out the kingdom of Benin in what became known as the “punitive expedition.” When Oba Ovonramwen, then ruler of Benin, imposed customs duties on goods leaving the territory, Britain sent 1,200 soldiers to destroy the kingdom as a form of reparations for the colonial power.

The city was set on fire and hundreds of trinkets, bronze sculptures, and valuables were stolen and later handed to the British government. Through trade and art dealership, these artifacts have mostly ended up in Germany and the United States.

Some of the looted goods primed to be given back to Nigeria include a bronze cockerel called “Okukor,” which is currently housed at Cambridge University. In 2016, the university removed the statuette from their dining hall after a group of students petitioned for it to be sent back to Nigeria.

View image on Twitter
Benin bronze at Bristol MuseumAncestral head of an oba (king), part of an exhibition at the Bristol Museum. (Commons/Matt Neale)
Senior curator at Swedish museum, Världskulturmuseet, Michael Barrett, told The Guardian the move is part of an effort from a “generation of curators” looking to “find ways towards reconciliation.” The museum has a small collection of Benin bronze artifacts which it will put up for repatriation.

However, there are concerns about the insurance cost and safety of the bronze plaques in Nigeria.

Former curator of the National Museum in Lagos, John Picton, said while the moral case for the return of the Benin’s bronze was “indisputable,” there was a risk that removing them from European museums would take African art out of world art history.

This isn’t the first time conversations about Benin’s stolen bronze artifacts has taken place.

In 2010, the National Commission for Museums and Monuments in Nigeria demanded that the Museum of Fine Art in Boston return 32 bronze items which had been gifted to them by Robert Lehman, former head of the now closed Lehman Brothers.

Then in 2014, British retired medical consultant, Mark Walker, decided to give back two bronze sculptures to the Oba of Benin which were taken from his grandfather, who participated in the 1897 expedition. The sculptures included a ninth-century depiction of the head of the king, and 16th-century plaques of life in the royal palace.

Looted_objects_from_the_Benin_Punative_Raid,_1897British soldiers with looted artifacts in 1897. (British Museum)

Oba Ewuare II of Benin has urged to the British government to repatriate the bronze sculptures to the Benin Museum as it formed an important part of their history.

Nigeria and Benin part of a host of countries demanding the repatriation of art stolen during colonial times.

In 2009, Egypt attempted to reclaim the 3,400-year-old bust of Queen Nefertiti from a German foundation which denied its request. It has since launched an ambitious campaign to retrieve over 5,000 artifacts from museums in Europe and America.

China has appealed to Britain to return 23,000 artifacts taken from the country during its occupation while Greece is still demanding that the British Museum return its Elgin Marbles which was traded to the British during the Ottoman Empire.

SOURCE: https://brandspurng.com/british-museum-will-return-bronze-artifacts-looted-from-benin-kingdom-nearly-two-centuries-ago/

Twenty-eight years after, memories of his life and times have faded out. Not even members of his primary constituency remembered to commemorate his skilful style last Saturday. But Cowbell Milk, the flagship brand of Promasidor Nigeria Limited, made the difference.

At that same main bowl of the National Stadium, Lagos, where Samuel Okwaraji slumped and died while in the colours of the Super Eagles of Nigeria, Cowbell Football Academy (CFA) remembered the national hero exactly 28 years after. And for kids and parents that participated at the final ceremony of the Cowbell Summer Camp, a programme organised by the CFA to groom young talents, it was a date with the history with the late midfielder looming large.

Among those who played at the final ceremony was Toyeeb Gidado Olakunle, who captained the Under-15 Team Nigeria at the Youth Olympics held in Botswana in 2014. Many people have nicknamed Toyeeb Nigeria’s rising Wonder Boy, a name once associated with Okwaraji.

The master of ceremonies reminded the crowd that it was in that main bowl of the National Stadium, Lagos that Okwaraji had a tragic end during Super Eagles’ encounter with Angola in a FIFA World Cup qualifier game.

Speaking at the event, ex-Super Eagles defender and Barcelona player, Gbenga Okunowo said the event was a positive memorial for Okwaraji. He said the young talents that participated in the event would, some day, replace Nigeria’s past heroes, if the national team managers paid attention to them.



“Many people do not remember Okwaraji anymore. So, this event is a good reminder. We cannot replace the late midfielder but the young talents I have seen could one day take his place in the national team,” he said.

Franklin Howard, another ex-Super Eagles player, said that Cowbell Summer Camp was a positive reminder of the last game Okwaraji played.

“If you watch very well, you would notice that this was how Nigerians gathered to watch the last game Okwaraji played. But it is a good reminder because many of the youths that are being trained by CFA can replace Okwaraji and other stars whose deaths or retirements have left a vacuum in the national team,” Howard said.

Marketing Manager, Promasidor Nigeria Limited, Abiodun Ayodeji said the sponsorship was aimed at building responsible citizens. He added that the initiative was part of Promasidor’s support for the socio-economic development of the country.

“We are very keen in creating activities and platforms that will provide a total development opportunity for Nigerian children and youths. This is all about total development – whether in academic or extra-curricular activities,” Ayodeji explained.

CFA Rector, Godwin Dudu-Orumen said the academy had achieved outstanding records, which he attributed to Cowbell’s motivation and support.

Dudu-Orumen disclosed: “Two products of the academy have played for Under-15 national team. One of them, Toyeeb Gidado Olakunle, captained the Under-15 Team Nigeria at the Youth Olympics held in Botswana in 2014.

“Another CFA product, who was given a scholarship, has graduated from an American university, while the Lagos State Polytechnic is currently counting on seven other trainees, who were recently admitted into the school, to help develop its football team. These lofty achievements could not have been actualised without the support of Cowbell.”

Ten awards were given to outstanding individuals and teams for their impressive performance during training. Among the honours were the Cowbell Overall Wining Team Prize, Stephen Keshi’s Prize for Outstanding Leadership, Muda Lawal’s Prize for Most Hardworking participant and Rasheed Yekini’s Prize for Most Improved Player.

SOURCE : https://brandspurng.com/cowbell-milk-brings-back-memories-of-samuel-okwaraji/

Kaspersky Lab experts have discovered a backdoor planted in a server management software product used by hundreds of large businesses around the world.


When activated, the backdoor allows attackers to download further malicious modules or steal data. Kaspersky Lab has alerted NetSarang, the vendor of the affected software, and it has promptly removed the malicious code and released an update for customers, Nigeria CommunicationsWeek gathered.

ShadowPad is one of the largest known supply-chain attacks. Had it not been detected and patched so quickly, it could potentially have targeted hundreds of organisations worldwide.

In July, 2017 Kaspersky Lab’s Global Research and Analysis (GReAT) team was approached by one of its partners – a financial institution.

The organisation’s security specialists were worried about suspicious DNS (domain name server) requests originating on a system involved in the processing of financial transactions.

Further investigation showed that the source of these requests was server management software produced by a legitimate company and used by hundreds of customers in industries like financial services, education, telecoms, manufacturing, energy, and transportation.

Further Kaspersky Lab analysis showed that the suspicious requests were actually the result of the activity of a malicious module hidden inside a recent version of the legitimate software.

Following the installation of an infected software update, the malicious module would start sending DNS-queries to specific domains (its command and control server) at a frequency of once every eight hours.

The request would contain basic information about the victim system (user name, domain name, host name). If the attackers considered the system to be “interesting”, the command server would reply and activate a fully-fledged backdoor platform that would silently deploy itself inside the attacked computer.

“ShadowPad is an example of how dangerous and wide-scale a successful supply-chain attack can be. Given the opportunities for reach and data collection it gives to the attackers, most likely it will be reproduced again and again with some other widely used software component.

“Luckily NetSarang was fast to react to our notification and released a clean software update, most likely preventing hundreds of data stealing attacks against its clients.

“However, this case shows that large companies should rely on advanced solutions capable of monitoring network activity and detecting anomalies. This is where you can spot malicious activity even if the attackers were sophisticated enough to hide their malware inside legitimate software,” said Igor Soumenkov, security expert, Global Research and Analysis Team, Kaspersky Lab.

SOURCE: https://brandspurng.com/kaspersky-uncovers-how-attackers-compromise-companies-software/

For 13 years, MTN has bestridden the payment space like a colossus. MTN South Africa’s Mobile Money was officially switched on exactly 13 years ago today in a partnership arrangement with Standard Chartered Bank, South Africa.


According to available data, the platform currently processes 175 million transactions a month with a monthly value of about $4 billion. “It’s been a long road to being active in over 12 African countries. MTN Mobile Money has been changing lives, building Africa, serving customers and delivering transactional values. It has also been another stunning example of innovation in Africa”

When MTN deployed its Mobile Money banking service in South Africa with Standard Chartered Bank, the service was designed as a complementary service for customers who already have accounts, and as such, the service offers a wide range of services, including the option of a credit card.

The leading African telecom company in 2009, extended it the digital payment platform beyond its country of origin to six other markets by launching Mobile Money services in Ghana, Uganda, Rwanda, Cote d’Ivoire, Benin, and Yemen.

From this regional foray, the focus changed from added value to bank account holders to transformational services for the unbanked with a simpler service proposition based on money transfers and airtime purchases.

Recently MTN Group reported strong revenue increases in four of its mobile money markets in the opening quarter of 2017. The company’s first quarter earnings statement revealed rising revenues in Uganda, Ghana, Ivory Coast and Cameroon, but provided little detail on the actual amounts generated in those, or its other markets’, mobile money services reports financialtechnologyafrica.com

Cameroon was its fastest growing market in terms of mobile money with revenue up 390% during the quarter. In Uganda, revenue was up 34 per cent quarter-on-quarter and accounted for 22% of MTN’s total revenue in the country.

In Ghana, mobile money generated 13% of MTN’s overall earnings during the first quarter while finance and payment services in Ivory Coast accounted for 33% of total revenue.

Due to the lack of a breakdown of figures for MTN’s other markets or specific revenue information, it is difficult to assess its performance, as year-on-year comparisons were also not available.

The operator group provides mobile money services across 15 markets serving 22.2 million customers, according to the latest published figures on MTN’s website.

SOURCE: https://brandspurng.com/mtn-13-years-in-the-mobile-money-space/

Never knew they are related in anyway for production.
Thanks for the insight.. OP.

We hope to see the numbers get employed.
Be positive, Stay positive.

Traditional banks are losing market share to a raft of new FinTech providers and challenger banks, impacting their ability to retain, cross-sell and acquire new customers. Yet, with access to precious data and the experience to offer quality financial advice, traditional players still have a distinct advantage.


In an era of big data and the ‘on demand economy’, some banks’ aggressive but poorly targeted acquisition campaigns are turning people off. It’s time for them to define and deliver on their brand promises, reconnect to their customers’ and solve real needs. We look at how banks can redefine themselves for a digital age, creating moments that drive revenue and deliver an authentic brand experience.
The world of banking is evolving at a blistering pace. Tweet thisDigitisation and challenges from FinTechs require even the most traditional banks to move with the times . It’s no wonder banks are feeling nervous: the rise of FinTechs and challenger banks have chipped away at market share by disrupting the way people bank with a focus on simplicity and value. Banks are responding to the needs of smartphone-savvy younger people by developing their digital services and closing branches: but apps cannot dispense financial advice. There is still a need for human, often face-to-face contact, particularly for older customers.

Plus, what once was viewed as loyalty has been revealed to be inertia: most banking customers fail to close accounts they no longer see value in simply to avoid life admin, whilst purchasing new products elsewhere. This shows how banks struggle to cross-sell, meaning they must find a balance between efforts to retain and acquire customers, particularly those attracted by offers of a seamless and personalised digital experience.

Indeed, this fractured approach to financial management may not feel too different for current customers of big banks. Complex customer journeys across touchpoints managed by different business silos, mean that interactions with them can already be convoluted. Compare this with the simplicity and convenience of a Monzo app, and the difference is starkly apparent.

Tweet thisBanks must simplify and digitise to keep up with people’s needs, but they must also revisit their role in specific moments of their customers’ lives to guard against challenges from competitors. A seamless, customer-centric approach with great products is nothing unless it is based on meaningful moments of interaction. The opportunity for banks is huge: in an age of big data, arguably, no one should know their customers as well as a bank. Access to spending habits should tell them volumes about who we are and what support or products we may need. The hot house of intense competition looks set to create some of the most interesting innovation to date. What does this look like for a sector in flux?

Focus on people’s needs, not products

Tweet thisThe wealth of customer data that banks hold is a treasure trove of useful marketing intelligence. Using that data to personalise your marketing and product offers can pay dividends, allowing you to predict and respond to individual needs as they evolve. Not only that, it allows banks to give their customers sound financial advice at the right moment, something an app would struggle to do.

Westpac brings together data and communications from across the customer journey to create a single view that seamlessly integrates multi-channel customer interactions. Customers still want personalised one-to-one service from their bank, but this had become impossible for Westpac with one staff member to every 500-600 customers. Westpac created ‘Symphony’, a tool which brings together data, learns from behaviour and customer feedback, and creates targeted and more meaningful communications. All communications are connected across channels to create a seamless conversation, so customers don’t have to re-start their discussion at each interaction, whether they’re in branch, reading an email or banking online.

Optimise your customer journey

Banks must identify the moments that are most important to their varied customer base and build their customer experience to capitalise on them. Tweet thisBy removing moments of friction with a focus on simplicity, banks can optimise their customer journeys, delivering positive experiences that reinforce a coherent brand experience and leads to increased retention and acquisition through advocacy. Not only that, but a deeper understanding of those touchpoints will allow you to surprise and delight customers along the way. If banks are to become the chosen brand, they must understand that brand equity is only ever as good as the last experience, and it is the experiences that define brand perceptions.

NatWest’s philosophy is simple: ‘We are what we do’. To live up to their ‘serving customers’ value, they developed a clever service in a simple and digital way to address the moment a wallet or card is lost. The NatWest app allows people to get cash from an ATM without their cash card, acting as a proof point to their promise and solving a real problem for their customers.

Define and live your purpose

Traditionally, banks were trusted partners, here to help us through life stages. Then, in 2008, came reform and recession. Many banks have since battled to rebuild trust, struggling to define themselves and what they stand for. Tweet thisDefining their purpose is essential for brands seeking to carve out a niche in a competitive marketplace. In a world where most people think that businesses should have a purpose beyond accountability to their shareholders, this purpose will be vital for brand equity and creating positive moments with your customers. Tweet thisBanks must re-connect to consumers by understanding the moments that matter to them.



In South Africa, mobile and digital banking is a hygiene factor, as the market is technologically ten years ahead of the curve in the banking sector compared to other countries around the world. So here the challenge is quite different. Capitec came to market with a cheaper banking offer by attacking competitors who had high rates and fees. Their positioning ‘Simplified Banking’ was brought to life through their ‘Bank better to live better’ campaign showing how simple they make banking in people’s lives. Capitec has now surpassed some of the giant banks in South Africa to become the largest retail and consumer bank in the country.

Research conducted by ANZ revealed that getting or changing jobs was one of the most significant triggers for opening up a bank account among 14-17 year-olds. ANZ became the bank for “your ‘first real’ job” by sharing stories that centred around ‘that moment you find out you’ve got the job’. ANZ showed they understood the emotional significance of the ‘first job’ milestone and had the right product to help. Not only that, but they retrained front line staff to better deal with the needs of youngsters, converting them to long-term customers.

A whole new world for banking

As the world of banking digitises, there are more and more opportunities to create personalised moments with customers. Increasing competition will, no doubt, create some of the most interesting and innovative developments in the sector for many years. It will always be a balance between innovating too quickly, alienating traditional customers, or being too slow and being left behind. However, banks that embrace big data, optimise customer journeys and differentiate in ways that benefit their customers, whilst coherently delivering against their brand promise, will lead the way.

SOURCE: https://brandspurng.com/in-the-wake-of-a-wave-of-fintechs-banks-are-getting-personal/

Jorussia:
Let him go and buy a championship side like the owner of Leicester did.I doubt if the board will ever sell their share to Dangote.

why? cos he is from Africa?

na we dey demean ourselves.

It doesn't change a thing. He is one of the richest in Africa.

He can buy the club and extra stadium sef.... lol.

The Nigerian telecom regulator, Nigerian Communications Commission (NCC) has begun a regime of checks on operators in the telecom sector to ensure strict compliance of best practices through a Code of Corporate Governance which became active in November 2016.

This is one of the measures by the commission to engender consumer satisfaction, industry resilience, accountability and sustainability of businesses in the sector which now contributes a huge chunk to the nation’s GDP.

As part of the new push, NCC has sent out a team of chartered accountants to check the financial status of telcos as well as their technical well-being including network integrity. Using four key performance indicators (KPIs), the commission said it was all in line with the dictates of the new Code made public Tuesday to stakeholders.

After the financial meltdown which hit Etisalat (now 9Mobile) in which syndicated loans from a  consortium were not serviced as at when due, the commission said it would be indirectly minding how funds are managed by the operators especially since some of the funds were funds from the subscribers through recharge.

Principle 11.9 of the Code states: “To ensure continuity and injection of fresh ideas, a Director may serve on a Board for a period of three3) terms of five(5) years each. No Director shall on any Board for a period exceeding a total number of 15 years.

“Subject to satisfactory performance and the provisions of CAMA, all Directors shall be submitted for re-election at regular intervals of five years. In order to guide decision of shareholders, names and sufficient biographical details of Directors nominated shall be accompanied by performance evaluation statement and any other relevant information”.

The Executive Vice Chairman of the NCC, Professor Umar Danbatta, said the Code was not to stifle innovation and growth among operators but to ensure sustainability and conformity to best practices by operators. He explained that the regulator was not interested in sanctions but that sanctions only apply as a last option when other advisory roles of the commission were not adhered to by any operator.

“We want to ensure that things are done the right way; that the books are transparent and that new ideas are injected by new and younger Board members at all times to complement the experience of the older Board members”, Professor Danbatta said.

The Nigerian telecom sector has attracted foreign direct investment in excess of $68 billion since 2001 and participants at the workshop in Lagos said there was the need to protect such investments and even grow it through adherence to global best practices.


SOURCE: https://brandspurng.com/aftermath-of-etisalat-fiasco-ncc-begins-financial-checks-of-telcos-directors-to-serve-only-15-years/

Good one

Yea.

Keneking:
Ambode sef

Did u read it all? dem mention ambode?