₦airaland Forum

Realme joins the 100 Million Smartphone Club — finds that realme shipped its 100 millionth smartphone worldwide during June 2021.


Neil Mawston, Executive Director at Strategy Analytics, said, “realme is the fastest brand ever to ship 100 million smartphones cumulatively worldwide. It has taken just 37 months for realme to grow from zero to 100 million smartphone shipments. That is faster than Apple, Samsung, Nokia, Huawei, Xiaomi or any other major smartphone brand of the past quarter-century.”

Realme’s global smartphone growth has been driven strongly by China and India.

realme grew an impressive +175% HoH in China during the first half of 2021. realme today is the fastest growing smartphone brand in China.
realme has jumped from zero shipments in India during Q2 2018 to 4th place and a record 14% market share by Q2 2021.
Realme The Fastest Brand Ever To Ship 100 Million Smartphones
Linda Sui, Senior Director, added, “Only 16 brands have ever shipped more than 100 million units cumulatively worldwide in the twenty-seven years up to H1 2021. It is an elite club.”

Yiwen Wu, Senior Analyst, added, “realme’s smartphone growth is driven by a deep range of Android models, competitive pricing, striking online marketing campaigns, and extensive retail presence. realme has scaled up its smartphone business in record time.”

For over 30 years, Strategy Analytics has provided access to data and insights on vendor share in 88 countries and 6 regions for volume, value, price tiers, technologies as well as deep customized insights into consumer behavior, brand perceptions and replacement drivers.

SOURCE:https://brandspurng.com/2021/08/05/realme-is-fastest-brand-ever-to-ship-100-million-smartphones/

The apex regulator of banking activities in Nigeria has released new guidelines to further regulate the services provided by mobile money operators (MMOs) in Nigeria (the new guidelines). Since 2015, when the last regulatory changes were made using the old guidelines, mobile money operators have evolved to some extent with the surge in financial solutions driven by technology.
The new guidelines released on 9 July 2021 have made some additions to the 2015 framework which are highlighted below:

Scope
The new guidelines provide robust coverage of the MMO value chain from service providers to subscribers and agents. Two major types of operations governed by these guidelines include:

The Bank Led Model: These are deposit money banks offering MMO services alone or with other banks, essentially commercial banks operating disruptively in the MMO space.
The Non-Bank Led Models: These are non-banking organisations that have obtained a license from the CBN to carry on MMO services. Note that they also use deposit money banks and settlement banks.

Permissible and Non-Permissible Activities
The new Guidelines have made additions to the permissible activities that were listed out under the old guidelines. The additions include MMOs being operational, wallet creation, e-money issuance, agent recruitment and management, pool account management, non-bank acquiring services and card-acquiring services.

However, even with the additions made, MMOs are still prohibited from carrying on the following types of businesses; direct or indirect loans or guarantees, insurance underwriting, subsidiaries’ establishment, foreign currency deposit services and other forex activities that save the facilitation of cross-border remittances to personal accounts subject to the applicable regulatory framework.

Savings Wallets
The new guidelines allow MMOs to offer savings wallets to be operated with settlement banks and the funds held in these wallets are insured with the Nigerian Deposit Insurance Corporation (NDIC) using a pass-through insurance arrangement subject to specific requirements in relation to investment operations and interest distribution.

The savings wallets funds are subject to a maximum management rate of 10% but must also ensure that the principal sum is not affected by charges and fees. The wallets are also insulated from offsets by the settlement banks with whom the MMOs operate the accounts. Note that customers can use the funds in these wallets to invest ONLY in government treasury bills.

Consumer Protection and Sanctions
MMOs are now required to resolve customer complaints within 48 hours. In addition, they must ensure that customers understand the transactions being concluded, provide robust frameworks against loss of service, proper communication channels and offer adequate disclosures to customers.

Where for instance, there is a new capitalisation requirement by the CBN and a settlement bank is unable to meet up, such could have its license withdrawn. In such an event, the NDIC’s maximum deposit coverage level kicks in at N500,000.00 (Five Hundred Thousand Naira Only) for each subscriber.

Where an MMO has its license withdrawn or activities banned, the CBN ensures that the deposit liabilities of the subscribers are assumed by another MMO, or some other financial institution as defined under the Banking and Other Financial Institutions Act (“the BOFIA”). The CBN also reserves the right to take sanctions against an MMO, its board of directors, officers or agents, withhold corporate approvals as well as suspend or revoke licenses.

Limits for Transactions
The balance limits for wallet holders have been increased from N50,000.00 (Fifty Thousand Naira Only) to N5,000,000.00 (Five Million Naira Only) for daily activities. For cumulative balance, the N300,000.00 (Three Hundred Thousand Naira Only) cap has been removed and is now unlimited, depending on the Know-Your-Customer (KYC) tier.

Reporting and Compliance
The new guidelines also stipulate that all risk mitigation techniques adopted by the MMOs must be within the scope of the relevant code of corporate governance, for example, the Code of Corporate Governance for Finance Companies 2018 (the Code). While MMOs have not been listed as financial institutions as such in the Code, it appears that the CBN has expanded the definition in the Code to cover MMOs by virtue of the fact that MMOs are listed as “other financial institutions” in the BOFIA.

Furthermore, all MMOs are to file annual audited reports and mandatory continuity business plans to the CBN within the first three months of the following year or no later than 31 March of the following year.

Conclusion
MMOs have definitely simplified financial transactions and services in Nigeria by increasing the number of banked individuals. Banks no longer need to have physical presence to provide financial services to residents of rural areas. This further promotes the CBN’s “cash-lite” agenda and has also made commercial transactions easier.

While the guidelines are a commendable development, we hope that in the editions to come, the CBN can involve Telco-Led models as they appear to be more common and easily accessible to the average Nigerian.

The Centurion Law Group provides unsurpassed legal services to its local and international clients. With offices in Nigeria as well as a dedicated team on the ground, reach out to us today.

Author: Ibrahim Moshood, Associate, Centurion Law Group

SOURCE:https://brandspurng.com/2021/08/05/cbn-issue-new-guidelines-mobile-money-operators/

Mouka, Nigeria’s leading manufacturer of mattresses, pillows and other bedding products has once again reinforced its position as the innovation trailblazer in the bedding industry. Mouka has recently announced the launch of its eco-friendly mattress called Eco-Comfy.
Mouka’s Eco-Comfy mattress is made up of 100 percent recyclable polyester fibre which promotes airflow around the body, keeping the consumer cool and comfortable through the night.

Commenting on its latest innovation, Mouka’s head of marketing, Tolu Olanipekun pointed out that the cutting-edge product is very affordable yet certified as supportive and durable.

“In addition, Eco-Comfy is eco-friendly as it is made of 100% recyclable polyester fibre, which means an old mattress can be converted into other valuable products rather than ending up in a landfill, thereby causing pollution of the environment,” Tolu stated.

According to the company’s Chief Executive Officer, Mr Raymond Murphy, this innovation is a further demonstration of Mouka’s commitment to promoting a sustainable environment. According to him, Mouka is continuously looking for ways to promote a safer environment by cutting down waste in its operations which has resulted in numerous awards to date.

The Chief Commercial Officer of the company, Mr Dimeji Osingunwa said Mouka continues to add comfort to the lives of all categories of consumers. According to him, the Eco-Comfy mattress is targeted at consumers who want to enjoy quality sleep at a very pocket-friendly price. He encouraged institutions such as schools and camps that desire a low cost yet durable mattress to purchase the new Mouka Eco-Comfy.

In addition to the Eco-Comfy, the market leader in the industry it operates has quality brands such as the Wellbeing orthopaedic mattresses, Royal luxury pillow top mattress, Mondeo Plus Spring mattress, and a wide range of pillows to help all Nigerians sleep well and wake up refreshed.

SOURCE:https://brandspurng.com/2021/08/04/mouka-breaking-innovation-eco-comfy-fibre-mattress/

Over 700 healthcare workers and patients have died, and more than 2,000 have been injured in attacks on health facilities since December 2017, according to a three year analysis by the World Health Organization (WHO) released on Tuesday.

The Surveillance System for Attacks on Health Care from 2018 to 2020, recorded data on attacks on health workers, patients, supplies, ambulances and facilities in 17 emergency-affected countries and fragile settings.

Countries at risk
These included Ethiopia, Yemen, Syria, Mozambique, Nigeria, Occupied Palestinian territory, Myanmar, Central African Republic, and Somalia, among others. “We are deeply concerned that hundreds of health facilities have been destroyed or closed, health workers killed and injured, and millions of people denied the healthcare they deserve,” Altaf Musani, Director of the Health Emergencies Interventions, WHO, told journalists in Geneva.

The WHO initiative has three main pillars of work, which are the systematic collection of evidence of attacks, advocacy for the end of such attacks, and the promotion of good practices for protecting healthcare.

It presents a global overview of attacks on healthcare, the resources that they affected and their immediate impact on health workers and patients.

Deadly outcomes
Giving details of the findings, Mr. Musani, said that “one out of six incidents have led to a patient or health worker’s loss of life in 2020”.

Health workers are the most affected resource, he added, representing “two-thirds of all attacks in 2018, 2019 and fifty per cent of all recorded incidents in 2020,” rather than facilities or supplies.

The report warned that the impact of attacks on health care goes well beyond endangering health providers, especially in light of the ongoing COVID-19 response.

‘Ripple effect’
“Their impact reverberates on health workers’ mental health and willingness to report to work, on the communities’ willingness to seek healthcare and also drastically reduces resources for responding to health crises, among others.”

The “ripple effect of a single incident is huge”, he said, and has “long-term consequences for the health system as whole.”

Mr. Musani called on all parties in conflicts to ensure safe working spaces for the delivery of healthcare services and “safe access to health care, free from violence, threat or fear. “One attack is an attack too many”, he warned.

WHO’s Attacks on Health Care (AHC) initiative was rolled out in December 2017, following a World Health Assembly resolution adopted in 2012, in which Member States requested WHO to provide global leadership in collecting and disseminating information on attacks on health care in complex humanitarian emergencies.

The need for systematic collection of data on attacks on healthcare was further supported by Security Council resolution 2286 adopted in 2016.

The findings are the first body of verified and reliable evidence, which can be used to generate analyses and reports to better understand attacks on healthcare.

SOURCE:https://brandspurng.com/2021/08/04/over-700-healthcare-workers-and-patients-killed-in-attacks-on-facilities/

A team of the Surveillance, Investigation, and Monitoring (SIM), Unit of SON has uncovered a lubricant adulterating syndicate at a residential property situated at number 25 Isoko Street Sunny Bus-stop, Ojo in the Alaba International Market area of Lagos State.

The Sting operation swooped on the location and arrested a primary suspect Mr. Chizoba Emmanuel who was found on the premises with various drums of base oil and empty drums used to mix and repackage the substandard lubricants,

Speaking to newsmen at the location, Director General SON Mallam Farouk Salim who was represented by the Coordinator SIM Unit, Mr. Suleiman Isa described the discovery as shocking, stating that it is indeed a wake-up call for Nigerians and particularly the organization that there is still work to be done.

According to him, despite SON’s several arrests in the past, deviant Nigerians still persist in the act of adulterating engine oil and selling to unsuspecting Nigerians destroying machinery and engines.

“SON will not relent in the ongoing fight against unscrupulous elements who persist in defrauding unsuspecting Nigerians through their dubious acts” he said.

The SON boss thereafter advised importers and local manufacturers to always do the right thing by upholding standards in all their undertakings, stating it will ensure a vibrant economy through the strengthening of businesses as they adhere to international best practices.

The DG, SON further assured that the Organisation will continue to intensify efforts to apprehend criminals perpetrating such acts through discreet information gathering and arrests as this will go a long way in ensuring that the country is ridded of substandard products.

Salim therefore called on Nigerians to come up with useful information in supporting the battle against substandard products by reporting to SON any unwholesome practice in the manufacturing of products.

The SIM team carried out the operation alongside men of the Criminal Investigation Department (CID) of the Nigerian Police Force who apprehended the suspects caught in possession of used lubricant plastics, several cartons of two popular brands of engine oil and a repackaging machine. The culprits are currently under arrest until further investigations are concluded.

SOURCE:https://brandspurng.com/2021/08/03/son-bursts-syndicate-adulterating-lubricants-in-lagos/

The Director-General (DG) Standards Organisation of Nigeria (SON), Mallam Farouk Salim has offered SON’s expertise to the Bauchi State Government in support of MSMEs development in the State.



He made the commitment when he paid a courtesy visit to the Governor of the State Senator Bala Mohammed at the State Council Chambers Government House Bauchi recently.

In his remarks, the DG SON commended the State Governor for the gift of a land and support in the construction of the State/ Regional Office Laboratory.

Mallam Salim disclosed that the Office is ready for commissioning however, the Organisation is in need of additional Operational vehicle and laboratory equipment which will allow for full scale functioning and adequate coverage of every part of the State.

The DG indicated SON’s readiness to sign a Memorandum of Understanding (MOU) with the State to train and support MSMEs’ growth in the areas of Codes of Practices, packaging, labelling and good manufacturing practices.

According to him, SON is ready to train the State ministries and agencies in the ISO Management Systems Certification (MSC) and Occupational Health & Safety (OHS) Standards. These and other strategies he stated are to increase productivity in the state and reduce unemployment which is causing restiveness and insecurity in the region.

Salim stated that with the MSME support, “small scale producers will be standardized and their products will be able to key into the AfCTA programme which will be a boost to manufacturers and the economy of the State, making their products acceptable across our borders and overseas”.

In addition, the DG disclosed that SON is putting finishing touches to the office complex towards commissioning, to serve Bauchi and the North East region and would be looking forward to having the governor at the commissioning of the building.

The Governor of Bauchi State, His Excellency Senator Bala Mohammed in his remarks, thanked the President Mohammadu Buhari for appointing the DG, seeing that he is a good fit for the job and expressed his expectations that the Organisation would benefit immensely from his leadership.

Senator Bala Mohammed while reiterating Bauchi State’s continued support for SON in the state, announced the donation of operational vehicles to the state office and also pledged his support for the planned commissioning of the State/ Regional Office.

Speaking further, the Governor observed that the insecurity and poverty in the North East of the country has eliminated MSME’s in the Sate as they are completely non-existent.

He restated that the State government is looking forward to the partnership with SON to revamp the manufacturing sector in order to galvanize the State’s economy and make Bauchi products competitive internationally.

In his words, the Governor said SON is so critical in getting us out of the woods by standardizing our artefacts, agricultural produce and also the mining industry, by creating a value chain that will make our products acceptable worldwide.

As part of his tour to Bauchi State, the DG SON met with the Organization’s Regional Coordinators who were having regional offices confab in Bauchi State.

At the meeting the DG was briefed by the Director Operations on the outcome of the 3-day strategic meeting and review of activities, with a view of proffering solutions to perennial problems and situations within the state and the regional structures of the Organisation.

The DG addressed several issues raised and assured them of prompt solutions while at the same time urged them to become change agents in their various domains by being creative in their services and provision of solutions.

The DG also paid a courtesy call on the Emir of Bauchi Dr. Riliwanu Suleiman Adamu, mni to pay homage to him in his royal court at the Emirs Palace Bauchi.

The DG also visited the SON Bauchi State Office, where he was received by the State Coordinator, Engr. Hauwa Husseini were he interacted with the staff and afterwards taken on a tour of the SON new State office/ laboratory complex.

He made the commitment when he paid a courtesy visit to the Governor of the State Senator Bala Mohammed at the State Council Chambers Government House Bauchi recently.

In his remarks, the DG SON commended the State Governor for the gift of a land and support in the construction of the State/ Regional Office Laboratory.

Mallam Salim disclosed that the Office is ready for commissioning however, the Organisation is in need of additional Operational vehicle and laboratory equipment which will allow for full scale functioning and adequate coverage of every part of the State.

The DG indicated SON’s readiness to sign a Memorandum of Understanding (MOU) with the State to train and support MSMEs’ growth in the areas of Codes of Practices, packaging, labelling and good manufacturing practices.

According to him, SON is ready to train the State ministries and agencies in the ISO Management Systems Certification (MSC) and Occupational Health & Safety (OHS) Standards. These and other strategies he stated are to increase productivity in the state and reduce unemployment which is causing restiveness and insecurity in the region.

Salim stated that with the MSME support, “small scale producers will be standardized and their products will be able to key into the AfCTA programme which will be a boost to manufacturers and the economy of the State, making their products acceptable across our borders and overseas”.

In addition, the DG disclosed that SON is putting finishing touches to the office complex towards commissioning, to serve Bauchi and the North East region and would be looking forward to having the governor at the commissioning of the building.

The Governor of Bauchi State, His Excellency Senator Bala Mohammed in his remarks, thanked the President Mohammadu Buhari for appointing the DG, seeing that he is a good fit for the job and expressed his expectations that the Organisation would benefit immensely from his leadership.

Senator Bala Mohammed while reiterating Bauchi State’s continued support for SON in the state, announced the donation of operational vehicles to the state office and also pledged his support for the planned commissioning of the State/ Regional Office.

Speaking further, the Governor observed that the insecurity and poverty in the North East of the country has eliminated MSME’s in the Sate as they are completely non-existent.

He restated that the State government is looking forward to the partnership with SON to revamp the manufacturing sector in order to galvanize the State’s economy and make Bauchi products competitive internationally.

In his words, the Governor said SON is so critical in getting us out of the woods by standardizing our artefacts, agricultural produce and also the mining industry, by creating a value chain that will make our products acceptable worldwide.

As part of his tour to Bauchi State, the DG SON met with the Organization’s Regional Coordinators who were having regional offices confab in Bauchi State.

At the meeting, the DG was briefed by the Director of Operations on the outcome of the 3-day strategic meeting and review of activities, with a view of proffering solutions to perennial problems and situations within the state and the regional structures of the Organisation.

The DG addressed several issues raised and assured them of prompt solutions while at the same time urged them to become change agents in their various domains by being creative in their services and provision of solutions.

The DG also paid a courtesy call on the Emir of Bauchi Dr. Riliwanu Suleiman Adamu, mni to pay homage to him in his royal court at the Emirs Palace Bauchi.

The DG also visited the SON Bauchi State Office, where he was received by the State Coordinator, Engr. Hauwa Husseini were he interacted with the staff and afterwards taken on a tour of the SON new State office/ laboratory complex.


SOURCE:https://brandspurng.com/2021/08/03/son-bauchi-state-to-collaborate-on-sme-development/

The Group Managing Director/Chief Executive of Zenith Bank, Mr. Ebenezer Onyeagwu, has called for increased impact investing in Africa for the continent to attain its full potential.

He made the call during his keynote address at the Africa Investment Risk & Compliance Summit 2021 organised by the Emerging Business Intelligence & Innovation (EBII) Group which was held at the prestigious University of Oxford, United Kingdom, on Friday, July 30, 2021.

Onyeagwu delivered his keynote address after the special keynote address by His Excellency, Nana Addo Dankwa Akufo-Addo, President of the Republic of Ghana & Commander-in-Chief of Ghana Armed Forces, who was the Special Guest of Honour.

Her Excellency Dr Amani ABOU-ZEID, The African Union Commissioner in charge of Infrastructure and Energy, also delivered a keynote address at the Summit.

Delivering the keynote address with the theme “Leveraging Impact Investment Opportunities for Growth in Africa”, Onyeagwu described impact investing as an investment that yields optimal returns for investors, value for all stakeholders, and guarantees continued sustenance and existence of humanity.

He decried the shallowness of Africa’s financial market as depicted by the fact that no African exchange is among the Morgan Stanley developed markets index, only two African exchanges (Egypt and South Africa) are in the MSCI Emerging Markets Index, and just six African exchanges are in the MSCI Frontier Market Index. He noted that although the International Finance Corporation (IFC) estimates that the global investors’ appetite for impact investing could total as much as $26 trillion, only approximately 8% of the assets of impact intent funds are focused on Africa.

According to him, this is not significant enough, and Africa appears to be in the room but not on the table, considering that Africa is in dire need of investment and the continent’s 1.3 billion people represent about 17% of the global population of about 7.8 billion.

Citing the immense opportunities in Africa that represent enormous investment proposition for discerning investors, including the huge population, large market and active labour force, and the rich natural endowment, Onyeagwu described Africa as “the new frontier” for global growth. He made a case for increased impact investment in Africa, noting that investment opportunities on the continent cut across agriculture, healthcare, housing, infrastructure, electricity, and the creative sectors.

Onyeagwu exuded immense optimism on the coming into effect of the African Continental Free Trade Area (AfCFTA) initiative, which would create a single, continent-wide market for goods and services, business and investment as being in one country on the continent grants investors access to the entire continent.

He also called investors’ attention to Africa’s rich natural endowment, which includes 60% of the world’s uncultivated arable land and 9% of the world’s freshwater bodies, noting that Africa holds enormous potential for organic food production.

He, therefore, implored investors in the agribusiness value chain to focus attention in Africa for organic food production instead of genetically modified food in other climes.

Onyeagwu also noted that as a socially responsible organisation, Zenith Bank continues to promote impact investment in Africa. For example, the bank has maintained strong advocacy for investment in Africa through its flagship sponsorship of “Inside Africa” on CNN for 16 consecutive years, which is helping to highlight the immense creativity and talent that abound on the continent and the enormous investment opportunities on the continent of Africa.

He also said that the bank leverages its in-depth knowledge of the African market to guide investors and hedge their exposures. According to him, the bank has been on a steady Environment, Social and Governance (ESG) investment journey, which started with ESG integration as a business strategy as well as being a signatory to the Nigerian Principles for Sustainable Banking and the United Nations Environment Programme Finance Initiative (UNEP FI) Principles for Responsible Banking.

For its efforts, Onyeagwu noted that Zenith Bank received recognition as the “Best Company in Promotion of Gender Equality and Women Empowerment in Africa” at the 2020 Sustainability, Enterprise and Responsibility Awards (SERAS).

In his call to action, Onyeagwu called for a paradigm shift, noting that Africa is a work in progress, and leaders in the public and private sector should not despair. He encouraged leaders to champion the changes they want to see, pay close attention to responsibility and accountability in leadership. He also called for the de-risking of Africa through reforms, improved ease of doing business, respect for the rule of law and sanctity of contract, and human capital development.

Onyeagwu expressed satisfaction with the several reforms of the Federal Government of Nigeria, including the Road Infrastructure Tax Credit Scheme (RITC), the establishment of the Rural Electrification Agency’s (REA) Rural Electrification Fund (REF), Infraco Plc, and several other development finance initiatives of the Central Bank of Nigeria. He also noted that several African countries, including Ghana, Kenya and Rwanda, are recording massive improvements in the ease of doing business, leveraging digital technology to simplify government processes and deepen the financial system.

He implored Africans to see themselves as brothers and sisters, say no to xenophobia, and speak with one voice and not with discordant tunes. Onyeagwu implored the rest of the world to look at Africa as an investment destination that guarantees optimal returns. He noted that Africa has profound talent that abounds across the world and contributes to the development of these climes, and this should be reciprocated. He encouraged Africans to imbibe the spirit of UBUNTU – “I AM BECAUSE YOU ARE” since we are all connected in humanity.

Zenith Bank is Nigeria’s largest and one of Africa’s largest financial institutions by tier-1 capital, with shareholders’ funds in excess of NGN1.1 trillion ($2.64 billion) as at December 31, 2020. The bank is a clear leader in the Nigerian financial space, with several firsts in the deployment of innovative products and solutions that ensure convenience, speed and safety of transactions.

The Emerging Business Intelligence & Innovation (EBII) Group is independent specialist compliance and global risk management consultancy firm offering education and expert consulting services to entities in the West seeking opportunities for diversification and growth in emerging markets and Africa.

The Group supports African entities and governments with their risk management and compliance requirements and delivers practical and genuine support to firms by providing a comprehensive and relevant assessment of risks, enabling them to successfully navigate their risks and ensure adherence to their compliance requirements.

SOURCE:https://brandspurng.com/2021/08/02/zenith-bank-calls-for-increased-impact-investment/

The Nigerian Local market closed the transaction for the first trading day in August on a positive note, thereby extending the positive sentiment to two consecutive trading sessions, as NGX-ASI grew by 0.15%.
Bargain hunters buying interest, particularly in the Banking sector majorly led to the positive performance in today’s trading period, as investors continue to assess the published H1 performance of some of the companies and await the release of more. However, the market breadth closed negatively, recording 26 losers as against 17 gainers.

In summary, the All-Share Index (ASI) grew by 57.64 absolute points, representing an increase of 0.15%, to close at 38,604.72 points. Similarly, the overall Market Capitalization value grew by N50.03 billion, representing an increase of 0.15% to close at N20.13 trillion.

JBERGER emerged as the top gainer (by percentage points) for today, with a maximum price appreciation of +8.89%, while ETERNAL emerged as the top loser (by percentage points) with a maximum price depreciation of -10.00%.

Today’s market positive performance was driven by price appreciation in large and medium capitalized stocks amongst which are; REGALINS (+7.14%), LINKASSURE (+6.67%), MBENEFIT (+5.41%), CHIPLC (+5.17%), COURTVILLE (+4.35%), WEMABANK (+2.44%), FTNCOCOA(+2.08%), MTNN (+1.82%), UNILEVER (+1.43%), NASCON (+1.38%), FBNH (+1.35%), ETI (+0.95%), AFRIPUD (+0.79%), CUTIX (+0.42%), and ZENITHBANK (+0.20%).

FMDQ
The overnight (O/N) rate closed at 7.75% on Friday (30/07/2021), depreciating by 3.25% against Thursday’s position. while Open Buy-Back (OBB) rate closed at 7.50% on Friday (30/07/2021), depreciating also by 4.75% against Thursday’s position.

The I&E FX window traded high and low at N412.25 and N400.00 respectively on (30/07/2021) and eventually closed at N411.44, representing an appreciation of 0.06% against Thursday’s closing position. Also, at the BDC, the naira appreciated by 1.90% to closed at N515.

Nigeria’s foreign reserve strengthened by $25.63 million to $33.38 billion on (29/07/2021) from $33.36billion on (28/07/2021).

The Brent crude increased by $0.31 to $75.41 on (30/07/2021) from $75.10 (29/07/2021), representing a 1.67% rise in price. Bonny Light appreciated by $0.20 to $74.32 on (30/07/2021) from $74.12 (29/07/2021), representing a 0.27% increase in price.

SOURCE:https://brandspurng.com/2021/08/02/banking-sector-local-market-green-zone-investor/

Nigeria’s largest mobile network operator, MTN Nigeria, announced that mobile subscribers declined by 7.6 million to 68.9 million, impacted by the regulatory restrictions on new SIM sales and activations. Similarly, the Telco giant’s active data users declined by approximately 52,000 to 32.5 million.
MTN Nigeria Communications Plc (MTN Nigeria) made this known in its unaudited results for the half-year ended 30 June 2021, as well as plans to celebrate its 20th anniversary with numerous national impact projects.

In the result made available to Brand Spur, MTN Nigeria’s service revenue grew by 24.1% YoY, driven by the sustained growth in data and also partly due to the lower base in comparative 2020 voice revenue that resulted from lockdowns during that period.

Operational Review
Voice revenue grew by 13.1%, benefitting from an 11.8% increase in traffic and their
customer value management (CVM) initiatives. The impact on voice revenue from the
industry-wide suspension of new SIM registration was partly offset by higher usage
in its active SIM base as well as migration to a higher quality of experience.
Data revenue continued the positive momentum from H2 2020, rising by 48.3%. This
was driven by increased usage from the existing base, supported by the acceleration in our 4G rollout and enhanced network capacity following the acquisition and activation of an additional 800MHz spectrum in Q1.
Data traffic rose by 83.0% YoY, while smartphone penetration was up by 5.8pp to 49.3%. Our 4G network now covers 65.1% of the population, up from 60.1% in December 2020.
Fintech revenue rose by 48.2%, driven by increased adoption of Xtratime and its core fintech services. MTN Nigeria continues to expand its MoMo agent network and broaden service offerings. The company’s registered MoMo agents increased by 121,000 in H1 2021 to more than 515,000. Transaction volume increased by 280.8% YoY to 55.6 million in H1 2021, and the active subscriber base is now more than 6.1 million, up 180.0% YoY.
MTN Nigeria’s digital business continued to gain traction on the back of a strong partner ecosystem and the uptake of our products and services. Digital revenue rose by 61.8%, also supported by its rich media and value-added services. The active user base rose by 38.0% to over 3.9 million, led by Ayoba – our instant messaging platform – with more than 2.3 million active users.
The enterprise business revenue increased by 6.0%, demonstrating the continued
recovery from the impact of the COVID-19 lockdown and the uptake of our services
by the businesses we serve. MTN Nigeria made significant progress in concluding the
operational modalities for the new pricing framework for USSD services, which incorporates the recovery of outstanding USSD debts.
MTN Nigeria continues to pursue and realise efficiency through cost discipline and enhanced digitisation. However, due to an accelerated site rollout, the effects of Naira depreciation on lease rental costs and Covid-19 related expenditure, operating expenses increased by 24.6%. Its continued ability to drive operating leverage helped to drive EBITDA growth to 27.6%, with a 1.4pp expansion in EBITDA margin to 52.7%.
Capital expenditure in the period was 39.1% higher to N186.4 billion, as we continued
to invest in our network to maintain service quality and aggressively expand our
footprint in terms of 4G and rural coverage. We recorded a healthy free cash flow of
N230.8 billion, up by 19.6%.

Despite a 50.6% increase in core CAPEX excluding the right of use assets to N114.5 billion, CAPEX intensity remained within target levels at 14.5%. Depreciation and amortisation rose by 17.1% and net finance cost was down by 9.8%, resulting from a lower average cost of borrowings. Overall, MTN Nigeria recorded a PBT growth of 54.1%, also reflecting the softer base of H1 2020.

Commenting on the results, MTN Nigeria CEO Karl Toriola said:
“In the first half of 2021, we made good progress strengthening the resilience of the business, managing the impact of the COVID-19 pandemic and enhancing support to our people, customers and other stakeholders.

We extended our commitment to the Coalition Against Covid-19 (CACOVID) with an additional N3 billion contribution over a two-year period, half of which has already been paid.

This is in support of efforts to promote the health and security of Nigerians, as we navigate our way through the pandemic; and in line with our Y’ello Hope initiatives through which we provided support to our broad base of stakeholders to the value of approximately N25 billion in 2020.

Our progress towards achieving greater business resilience is reflected in the upgrade by Global Credit Ratings (GCR) of our national scale long-term issuer rating to AAA and affirmation of our national scale short-term rating of A1+ with a stable outlook. This puts MTN Nigeria on the highest possible GCR scale for short-term and long-term ratings, providing a solid platform for growth.

2021 marks the 20th anniversary of MTN’s presence in Nigeria. As we celebrate this milestone, we are pleased to announce that our Board of Directors has approved our participation in the Road Infrastructure Tax Credit (RITC) Scheme. This is in response to the Government’s drive towards public-private partnerships in the rehabilitation of critical road infrastructure in Nigeria.

We intend to participate in the restoration and refurbishment of the Enugu-Onitsha Expressway. Conversations in this regard have already commenced, and further announcements will be made in due course.

In line with our desire to plant deeper and more permanent roots in Nigeria, we have also initiated plans to commission a purpose-built, state of the art MTN Head Office, designed to act as a central hub for our network, a catalyst for creativity and innovation, and a showcase for the flexible working structures that are driving efficiency gains in this new normal working environment.

Aligned with our wider commitment to environmental sustainability, it will meet the highest global environmental standards, demonstrating the role of green technology in our future.

Following MTN Group’s stated intention to sell down up to 14% of its investment in MTN Nigeria, subject to market conditions over the medium-term, MTN Nigeria’s shareholders approved an equity shelf programme at the last Annual General Meeting. This will facilitate a process to increase ownership of the Company by more Nigerian retail and institutional investors.

Alongside this, we further localised our predominantly Nigerian management team with the appointment of Nigerians to two key senior positions (Chief Marketing Officer and Chief Information Officer) previously held by expatriates.

MTN Nigeria continues to invest in improved world-class services and its network, accelerating the expansion of our 4G coverage and providing home broadband. As part of our rural connectivity programme, we plan to connect approximately 1,000 rural communities to our network this year with additional 2,000 communities in 2022.

We are delighted that these are translating into strong operational performance in line with the objectives of Ambition 2025. In the next 3 years, we will invest over N600 billion to expand broadband access across the country in support of the Government’s Broadband Plan.

Operationally, our mobile subscribers closed H1 at 68.9 million, down 9.9% from December 2020. This was due to the regulatory restrictions on new SIM sales and activations, which was lifted on 19 April 2021.

Although the initial run-rate of additions has been slower than usual due to new process requirements, we anticipate growth to normalise in the short term as more of our acquisition centres are certified for SIM registration.

Finally, our Board of Directors has approved an interim dividend of N4.55 kobo per share to be paid out of distributable net income. This represents a growth of 30% over N3.50 kobo per share paid in H1 2020.”

SOURCE:https://brandspurng.com/2021/07/31/mtn-nigeria-lost-7-6m-subscribers-h1-data-revenue/

As the Olokemeji reforestation project swings into full gear, the IITA Forest Center held its first training for School Conservation Club (SCC) leaders held in Ibadan on 15 and 16 July.

This partially fulfills the project’s mandates to bring children on board as critical conveners of biodiversity conservation efforts for sustainable succession.

The two-day instructor-led course equipped the volunteer teachers with the required skills to engage school children as ambassadors of biodiversity conservation in fun yet educative ways.

In her welcome address, IITA Deputy Director-General, Corporate Services, Hilde Koper, expressed her pleasure at seeing the training participants and their interest in creating the clubs. She recognized them as ambassadors of IITA and biodiversity champions to promote reforestation and environmental conservation in their community and among school children. She stressed further that ‘’Our environment is important for the future of everybody.’’

In his lecture on Biodiversity Conservation, Ademola Ajayi, IITA Forest Center Environmental Education Officer, emphasized that we experience habitat degradation due to farming and urban development. He highlighted the forest’s role as the “lungs of the earth”, noting that we need our forest reserves to breathe clean air. He explained the difference between conservation and preservation: “Conservation does not mean ‘don’t touch’; it means ‘use sustainably’. To conserve, we raise awareness and contribute actively to conservation actions.”

Speaking on Child Rights’ Protection, the Head Teacher at the International School of IITA, Derek Smith, said: “We must not just prevent the abuse of children; we must take steps to report child abuse anywhere we see it occur.” He called on participants to observe Child Protection Policies as they raise young conservationists in school pupils.

Educational Consultant and Early Childhood Specialist Anu Akinola took participants on an exciting journey, giving valuable hints on creating their Conservation Club and making it the go-to club for school children. “A good conservation club coordinator must be knowledgeable about the environment, bring innovations to children in a fun way, be creative and hands-on, be internet savvy, and have impeccable communication skills,” she added.

In her address on risk management, the Head of Administration in IITA’s West Africa Hub, Sylvia Oyinlola, enumerated anticipated risks associated with reforesting Olokemeji and how to address them. The exercise elicited useful contributions from the participants and equipped them with skills to solve anticipated challenges during the School Conservation Club activities.

Educational Consultant and Early Childhood Specialist Anu Akinola took participants on an exciting journey, giving valuable hints on creating their Conservation Club and making it the go-to club for school children. “A good conservation club coordinator must be knowledgeable about the environment, bring innovations to children in a fun way, be creative and hands-on, be internet savvy, and have impeccable communication skills,” she added.

In her address on risk management, the Head of Administration in IITA’s West Africa Hub, Sylvia Oyinlola, enumerated anticipated risks associated with reforesting Olokemeji and how to address them. The exercise elicited useful contributions from the participants and equipped them with skills to solve anticipated challenges during the School Conservation Club activities.

Jennifer Uchendu, Head of Sustainability and Regulatory Relations, said NB’s Brew A Better World Agenda takes community and stakeholder engagement seriously, as much as it commits to planting trees to reforest Olokemeji. The latter directly contributes to mitigating soil erosion and improving the water-retention capacity of the region’s underlying aquifers, while the former contributes to improving the quality of life of community members and ensuring the project’s sustainability.

The training participants were enthusiastic about converting all they had learned to raise pupils committed to conserving our natural resources in their different SCCs.

SOURCE:https://brandspurng.com/2021/07/30/iita-forest-center-prepares-trainers-for-olokemeji-school-conservation-clubs/

29 JULY 2021 – Caverton Offshore Support Group Plc, the leading provider of marine, aviation and logistics services to local and international oil and gas companies in Nigeria, today announces its unaudited results for the period ended 30th June 2021.
The results show a Profit-Before-Tax of N924Million, (and a Profit-After-Tax of N780Million). This result came even in the face of the serious negative impact that the Covid-19 pandemic continues to have on business operations in Nigeria and the rest of the world, which has caused a significant reduction in activities by International and Local Oil and Gas companies who are the major clients of Caverton.

Commenting on the results, Caverton’s Chief Executive Officer, Mr. Bode Makanjuola, said that,
“The result shows our continued determination to re-focus our operations in the face of the challenging economic conditions, to ensure continued business survival and profitability. To boost revenue, the marine service sector of the Group has also been restrategizing to position the company towards exploring further opportunities within and outside the oil and gas sector”.

He further stated that
“Our Maintenance Repair and Overhaul (MRO) facility and our Simulator Training facility, both in Lagos, have officially commenced business operations in the 2nd half of 2021. This heralds a new age in the Nigerian aviation sector and a better fortune for the Group. As expected with new projects, the income stream from these two new projects will gradually grow over the years ahead”

Below are some of the highlights of the Quarter 2, 2021 Unaudited Results:
Group Financial Highlights:
Revenue is N18.07B (N16.08b in 2020)
Gross Profit N6.37B (N5.62B in 2020)
Total Operating Profit, (excluding Finance Cost), is N3.24B, (N2.68B in 2020)
EBITDA for the period is N3.85B (N3.71B in 2020)
Profit-Before-Tax is N0.93B, (N0.89B in 2020)
Profit-After-Tax is N0.78 B, (N0.77 B in 2020)
EPS is 23 kobo, (23 kobo in 2020)

Profitability Ratios
Gross Margin is 35.25% (34.95% in 2020)
EBITDA Margin is 21% (23% in 2020)
Net Profit Margin is 4.32% (4.76% in 2020)
EBIT/Interest Expense is 1.58 %, (2.03 % in 2020)

Capital Structure ratios
Net debt/Equity is 1x (1.04x in 2020)
Net debt/EBITDA is 5.85x (6.12x in 2020)
Long-Term Debt/Total capitalization is 0.59x (0.42x in 2020)
Asset turnover is 0.23x (0.24x in 2020)
EBIT/Capital Employed is 12 (15 in 2020)

Caverton is one of Nigeria’s leading oil services companies providing solutions for a range of multinational companies across aviation and marine services

SOURCE:https://brandspurng.com/2021/07/29/caverton-makes-profit-of-n780million-in-h1-higher-than-the-n766m-in-2020/

Bitcoin price is currently hovering around the $40,000 mark after breaking out of the $35k resistance and forming good support at $38,800. The top cryptocurrency hit a monthly high of $40,816 earlier today before retracing under $40K again.
The on-chain data suggest traders have turned bullish again as they expect BTC to solidify its position above $40K. BTC has recorded eight straight green daily candles and is on its way to the ninth as its price rise above $40,000.

BTC also recorded the largest single-day exchange outflow in one year as nearly 57,000 Bitcoin left crypto exchanges. The large movement of BTC away from exchanges suggest the market sentiments have started to turn bullish again after prolonged two months of bearish sentiments dominating the market.

Another data that points towards the improving confidence of traders is the Bitcoin Fear and Greed Index. The Index was at 10 only last week indicating extreme fear among investors, now the value has turned to 50, which is a massive jump in such a short period.

Bitcoin Shrugs Off Major Bearish Threat
Bitcoin has managed to shrug off several potential bearish threats over the past week as it tries to solidify its position above $40K. Some of the key news and announcements that could have had a bearish impact on BTC price were, Amazon adding BTC payments turned out to be fake, the recent call by US politicians for strict regulations on the crypto market, Tether’s alleged bank fraud investigation by the US DOJ office.

The top cryptocurrency has also broken out of a 7-month RSI downtrend that led to a trend reversal starting last week. Analysts have been advocating throughout the 2-month bearish phase that BTC has not reached the marker top yet and might see another bullish price rally before the year-end.

The post Bitcoin records largest single-day Exchange outflow in 1-year as BTC price breach $40K appeared first on Coingape.

SOURCE:https://brandspurng.com/2021/07/29/bitcoin-exchange-outfl-btc-price-breach/

BIC, a world leader in stationery, lighters and shavers, announced solid results in its second quarter and first-half 2021 financial statements, driven by Net Sales growth (26.2%) across all divisions:
Flame for Life performance boosted by an exceptional start to the year in US Pocket and Utility Lighters, which we don’t expect to repeat in the second half, as well as robust growth in Latin America and the successful integration of Djeep in Europe
Human Expression result was driven by Digital Writing, while Core Writing Instruments markets remained challenging in Latin America and India
Blade Excellence fueled by the success of BIC 5-blade and Hybrid shavers despite a challenging competitive environment
BIC also reported strong growth in e-commerce in all regions, including developing markets. BIC’s recent acquisition of Lucky Stationery in Nigeria continues to perform well with H1 2021 Net Sales more than doubling, underpinning BIC’s efficient route-to-market strategy in the region.

H1 2021 HIGHLIGHTS
First Half 2021 Net Sales increased 26.2% at constant currencies. The unfavourable impact of currency fluctuations (–7.2 points) was mainly due to the decrease of the US Dollar and Brazilian Real against the Euro. Excluding the impact of acquisitions and divestitures, growth on a comparative basis was 22.5%.

Growth was fueled by the Flame for Life division, with a robust performance in Europe, North America, and Latin America. Boosted by a strong start-to-the-year, performance in the US contributed approximately 10 points to H1 Group Net Sales growth on a comparative basis. This was driven by improved market trends in value (total US Lighter market grew 6.2% YTD June) combined with customers’ order calibration during the first four months of the year, in response to unforeseen consumer demand. BIC outperformed the US market in both volume and value, propelled by distribution gains, favorable mix, and increased pricing.
In Human Expression, Rocketbook continue to show outstanding results, with Net Sales up more than 90% in H1. All online channels contributed to growth, with sales to Amazon driven by the success of June’s Prime day. BIC’s H1 Core Writing Instruments performance was driven by Europe, where total Back-to-School sell-in is expected to grow mid-single digit in 2021. In North America, the lack of product availability resulting from supply chain challenges negatively affected shipments to customers and are expected to impact Back-to-School sell-in.
The Blade Excellence division performance was fueled by the success of our 3-blade products in Latin America. While the US in-store distribution remained increasingly competitive, particularly in the female 3-blade segment, we continued to grow our 5-blade business in both male and female and outpaced the fast-growing online market.
E-commerce (excluding Rocketbook) delivered a solid +26% growth compared to the same period last year, fueled by Pure Players channels (+21%) and Omniretailers (+30%). Growth in Latin America, Middle East and Africa, and India was driven by increased distribution and efficient promotional campaigns.

Commenting on the results, Gonzalve Bich, the Chief Executive Officer said,
“Robust top-line growth drove our strong first-half results, getting us back to pre-COVID levels on a comparative basis. A standout was the performance of our Flame for Life division, which grew across all key geographies, particularly in the U.S.

I am also pleased with the growth we are seeing from our recent acquisitions, as well as our robust e-commerce results, and the launch of several innovative and sustainable products into the market.

We expect the balance of the year to be more challenging as we continue to navigate through current worldwide supply chain disruptions and adverse input costs, but we remain focused on what we can control and the pursuit of our transformation journey, which I believe will drive our profitable growth trajectory and create value for all our stakeholders.”



Consistent with our Sustainable Development journey, we launched several innovative products with environmental benefits in H1, including the BIC® Cristal™ Re’New, our first rechargeable metallic Cristal Ball Pen, and the BIC® BAMBOO, our first CO2 neutral labeled shaver with a responsibly sourced bamboo handle. We also started to rollout our new sustainable “SD Hybrid” shaver range in Europe.

We achieved more than 15. million euros incremental benefit from our Invent the Future plan in H1, of which approximately 4.0 million euros in direct and indirect procurement. BIC’s raw materials market prices soared 10% in Q2 compared to Q1 2021, the rebound in global consumption prompted a disruption in supply chains worldwide, resulting in a surge in sea freight costs, coupled with increased port to port lead-times. As previously communicated, we expect the current market conditions to weigh on Full Year 2021 margins.


H1 2021 Free Cash Flow before acquisitions and disposals totaled 103.7 million euros, including 30.3 million euros of CAPEX. Net Cash Position was 366.7 million euros, positively impacted by 173.9 million euros of proceeds from our headquarters’ sale.

H1 Gross Profit margin increased by 3.9 points to 51.7% compared to 47.8% in H1 2020. Excluding 2020 under-absorption of fixed costs due to the COVID-19 pandemic, the Gross Profit margin increased by 1.7 points. The improvement was driven by the strong increase in North America Lighter sales, a decrease in Brand Support above Net Sales, and manufacturing and raw material procurement efficiencies. This was partly offset by adverse Forex from Latin American currencies against the US Dollar.

H1 Adjusted EBIT was favorably impacted by operating leverage from Net Sales growth. Freight and Distribution costs were higher as a result of the increase in customer demand.

SOURCE:https://brandspurng.com/2021/07/30/bic-net-sale-growth-sale-double-nigeria/

Nigeria’s total value of capital importation has recorded a quarter-on-quarter decline of 54.06 per cent in the second quarter of 2021, the National Bureau of Statistics (NBS) has revealed.
According to the Bureau, the total value of capital importation into Nigeria declined to $875.62m in the second quarter of 2021 from $1,905.89m in the first quarter of 2021. This represents a decrease of -54.06% compared to Q1 2021 and a -32.38% decrease compared to the second quarter of 2020.

The largest amount of capital importation by type was received through portfolio investment, which accounted for 62.97% ($551.37m) of total capital importation, followed by Other Investment, which accounted for 28.13% ($246.27m) of total capital imported and Foreign Direct Investment (FDI), which accounted for 8.90% ($77.97m) of total capital imported in Q2 2021.

By sector, Capital importation by Banking dominated in Q2 2021 reaching $296.51m of the total capital importation in Q2 2021.

The United Kingdom emerged as the top source of capital investment in Nigeria in Q2 2021 with $310.26m. This accounted for 35.43% of the total capital inflow in Q2 2021.



By Destination of Investment, Lagos state emerged as the top destination of capital investment in Nigeria in Q2 2021 with $780.06m. This accounted for 89.09% of the total capital inflow in Q2 2021.

By Bank, Stanbic IBTC Bank Plc emerged at the top of capital investment in Nigeria in Q2 2021 with $310.21m. This accounted for 35.43% of the total capital inflow in Q2 2021.

SOURCE:https://brandspurng.com/2021/07/29/capital-importation-nigeria-875-q2-nbs/

Music has always been a universal language helping people through the ages to communicate and connect without the need for added conversation or even words.
Music can help us unlock the deepest parts of ourselves, and act as a unifier. Bringing people together to share their thoughts, feelings and emotions whether they are suburbs, cities or continents apart.

This has never been truer than in recent times. Removing the opportunity for people to connect in person has amplified the need to create experiences to still engage with those closest to us in ways that are both meaningful, emotive and transcend distance.

Several surveys conducted over the past year have showcased how the Gen Z audience in particular has been craving shared communal experiences. Over the same period, Spotify has also noted an increase in content streaming as people seek out ways to stay entertained and informed as well as connected.

The outbreak of COVID-19 pandemic has, as expected, led to a significant increase in e-commerce and other online activities in Nigeria and across the globe. The subscription to music streaming apps surged by 44%, with the usage of Spotify increasing the most by 83%.

Spotify has also seen an increase in the number of people using the platform to co-create and share audio content – using their favourite music as a key communication form to create those engaging experiences.

Collaborative playlists are a fun and easy way for users to co-curate playlists with friends, by each adding their favourite tracks. Creating a playlist that has a ‘feel’ of each user gives people the experience of being together. The popularity of collaborative playlists across sub-Saharan Africa was showcased in recent data released by Spotify.

Over the past 90 days, collaborative playlists in Nigeria increased by 35%, with “Far Away” by Nigerian Afro-fusion singer Brainboy being the most played in the country. Only South Africa and Kenya received more plays in Africa, with South Africa’s “The Business’’ by Tiësto being the most played track in local collaborative playlists in that country, and “Calling My Phone” by 6LACK & Lil Tjay taking the most plays in Kenya.

Ghana, Uganda and Tanzania also saw an increase in the plays on collaborative playlists over the period.

Another wonderful way to share is through Group Sessions, which allow for the simultaneous listening of songs and podcasts. In the past 90 days, South Africa had the highest group session listening rate across sub-Saharan Africa. The most popular track in group sessions in Nigeria was “Dimension (feat. Skepta & Rema)’’ by JAE5. In South Africa, it was “05:12 Space Caress’’ by Danger while in Kenya, it was “Baby Bumblebee’’ by Julie Gardner.

“Features such as collaborative playlists and group sessions aid music discovery – a key imperative for Spotify. As Spotify’s presence and popularity continue to grow across Africa, we are encouraged that our audience is continuing to uncover and explore the many features on offer that can only amplify their listening experience. Spotify is so much more than simply an audio streaming service.

“Users can ‘’soundtrack their lives’’ from the moment they wake up to when they go to sleep at night, and everything in between and seamlessly shares this across other social media apps like Facebook and Instagram. The platform provides an opportunity to connect through a shared love of music, providing comfort to many over the isolation of the past months,” says Phiona Okumu, Head of Music, Sub Saharan Africa.

SOURCE:https://brandspurng.com/2021/07/27/how-spotify-keeps-nigerian-fans-connected-through-music/

July 27, 2021 – It has been brought to the attention of the African Continental Free Trade Area (AfCFTA) Secretariat that our strategic partner, a leading African financial institution supported a $200 million bid by Made in Africa to purchase Vlisco, a textile company that sells almost exclusively in Africa.
Whilst we respect the rights of parties in a private transaction, as a matter of public interest for Africa’s market integration, regional and global competitiveness, we do find it curious that the bid of Made in Africa was rejected by the seller. We totally support the bid by Made in Africa, which is financially backed by one of the leading trade finance banks in Africa.

The objective of the AfCFTA is to accelerate industrialisation in Africa, consolidate an integrated market of over 1.3 billion people with a combined GDP of US$3.4 trillion and to place Africa on a sustained path to regional and global competitiveness. At the heart of Africa’s global and regional competitiveness is the textiles and clothing sector. This sector employs thousands of Africans, mainly women and contributes to Africa’s industrialisation.

Whilst we respect the rights of parties in a private business transaction to structure their business transactions as they see fit, we do believe that the sale of Vlisco to Made in Africa, is in the broader economic and trade interests of Africa, hence as the AfCFTA Secretariat, we are following this matter closely.

We, therefore, urge the successful conclusion of this transaction in favour of Made in Africa, which is backed by the leading financial institution, and led by Mr. Kojo Annan, the entrepreneurial son of the late Mr. Kofi Annan, along with other African fashion and business luminaries.

“We cannot express a value judgement as to the reasons for the bid of Made in Africa – which was the higher bid – being rejected. We do however firmly believe that where an African company puts forward a formidable bid for a foreign company that appears to profit exclusively from sales to Africa, supported by a leading African trade finance bank, the African company has a reasonable expectation to successfully conclude the transaction in favour of Africa” says Wamkele Mene, Secretary-General of AfCFTA.

We strongly urge reconsideration of this matter, the entire African continent and business community of Africa is following this matter very closely, African entrepreneurship and global competitiveness must be treated fairly.

SOURCE:https://brandspurng.com/2021/07/27/afcfta-strongly-made-in-africa-vlisco/

In the just concluded week, the Economist Intelligence Unit (EIU), stated that the Federal Government of Nigeria may raise Value Added Tax (VAT), again, from the current rate of 7.5% to 15.0% by 2025.

According to the report, titled “Country Report Nigeria”, the expected increase in VAT was amid rising public debt, which has become worrisome, and the possibility that the Petroleum Industry Bill (PIB), recently passed by the federal lawmakers but waiting to be assented to by the President, may not affect considerable boost to government revenue in the short to medium term.

Hence, the need for FG to shore up its insufficient revenue by increasing VAT, three times, to 15% within the space of four years. Despite the even installment increments which are expected to be implemented in 2021, 2022, 2024, and 2025, the research arm of the Economic magazine still predicted that Nigeria’s fiscal revenue would peak at 5% of its Gross Domestic Products (GDP).

Data from the National Bureau of Statistical (NBS) showed that Nigeria generated N496.39 billion revenue from VAT in Q1 2021, a surge of 52.93% year-on-year (y-o-y) from N324.58 billion printed in Q1 2020.

EIU stated that the country’s public finance would be in deficit till 2025, as its predicted that crude oil sales, which constitute a large chunk of Nigeria’s revenue, would hover around USD63.80 per barrel from 2021 to 2025, and this would be insufficient to balance the budget.

Apparently, FG is looking to borrow more given its recent move to increasing its debt limit to 40 percent of the GDP and also accommodate securitization of CBN’s deficit- financing as long-term debt. Already the country’s debt to GDP ratio as of FY 2020 was 47.02%, given the total debt of N32.92 trillion and GDP of N70.14 trillion.

Cowry Research notes that FG’s budget performance as of January to May 2021 speaks to the low revenue generation, and the direct negative impact it has on the funding gap. FG’s actual revenue generated in the above-mentioned period was N1.85 trillion (32.97% lower than the N2.76 trillion budgeted for the same period).

The actual total expenditure for the first five months was N4.85 trillion (14.22% lower than the budget of N5.66 trillion). Given the expenses which were 162.16% larger than the generated revenue, FG’s actual deficit ballooned to N3.01 trillion, up from the N2.89 trillion budgeted for the period under review.

In another development, the Monetary Policy Committee (MPC) would, in the new week, decide on the direction of the benchmark rate, having considered the macroeconomic variables affecting its preferred expansionary stance.

In the last meeting in May 2021, the Committee was optimistic on the positive development around vaccination against COVID-19 virus in most advanced economies and Nigeria specifically; albeit, the recent development as regards Delta variant of COVID-19 appears to raise new risks, especially for African countries.

Also, the MPC expressed its willingness to arrest the current challenge of stagflation the country is faced with – growing inflation combined with little or no growth in output – hence, voting unanimously to hold the Monetary Policy Rate at 11.50%.

SOURCE:https://brandspurng.com/2021/07/27/eiu-expects-fg-to-raise-vat-to-15/

July 26, 2021 – The World Health Organization (WHO) has supported Ondo State to integrate COVID-19 sample collection into the essential health care services. The intervention has led to an increase in the number of samples tested from an average of 70 to 321 per week, since the integration.
The intervention was informed following a decline in most of the COVID-19 monitoring indices in the state. The number of samples tested decreased from 1080 in epidemiological week 05 (01-07 February 2021) to 225 samples in week 11 (15 -21 March), 2021. Also, the case to contact ratio during this period remained consistently low at 1:1, and 69% (73/105) of the active cases were under home-based care (HBC) in week 11 (15-21 March), 2021.

With this situation, the State Ministry of Health (SMoH) approached WHO for support to implement activities to address the challenges. The objective was to scale up testing by expanding sample collection sites in the three hotspots LGAs of Akure South, Akure North, and Owo.

Additionally, efforts were to improve monitoring of COVID-19 patients under Home Based Care (HBC), improve contact tracing for all positive cases and strengthen coordination through the revitalization of weekly coordination meetings in the 3 priority LGAs and at the State level.

With this in mind, WHO supported the state in the decentralization and integration of COVID-19 sample collections into the essential health care system.

This involved identification and training of 103 laboratorians/sample collectors (1 per health facility) across the three LGAs. These health facility staff, based within the facilities were trained on how to conduct daily screening, triaging and collection of samples from all identified suspected cases that either visited or were referred to the health facility.

WHO equally supported monitoring of HBC and contact tracing through training of members of the Nigeria Red Cross Society residing across all wards on HBC monitoring and contact tracing. Selected LGAs and state-level teams were supported to conduct supportive supervision at the LGA and health facility level to ascertain the status of the response activities.

Due to the inadequate availability of giostyles at the facilities, except for those in use for immunization, temporary sample storage coolers were procured to ensure proper storage of collected samples before collation and transport to the laboratory.

To underscore the significance of the strategy, State Epidemiologist, Dr Stephen Fagbemi said that, “People at the local government level have the capacity to respond to the outbreak and there was no justification to over centralize the response.

With the intervention at the local government level, more COVID-19 cases have been detected as we have taken testing closer to the people… we commend this initiative as it is something that needs to be sustained and scaled up so we can find out what is happening in other LGAs,” he said.

Preliminary results
Preliminary results show that, three weeks prior to the commencement of the intervention (03-23 March, 2021) an average of 70 samples were collected weekly across the state out of which an average of 12 cases were confirmed. During the period of the intervention, the number of weekly samples collected and tested in the State increased to an average of 321 samples weekly

In the three hotspot LGAs, the cumulative sample collection increased from 133 samples three weeks prior to commencement to a total of 808 (Akure South-336, Akure N-228, Owo-244) samples collected three weeks post commencement of WHO support

The WHO State Coordinator, Dr. Akinola Fatiregun, at a stakeholder’s meeting said, ‘Prior to the intervention, only two sample collection sites were functional. Currently, there are 103 active sample collection sites located across the health facilities, public and private, in the three LGAs being supported.

The support by WHO has fostered integration has strengthened the Covid-19 response at the ward level, and upon completion may be a template that is replicable in other areas and for other outbreaks. WHO continues to provide data support for weekly EOC meetings at the state level and in the three hotspots LGAs.

At a post-intervention meeting to review the impact of the intervention, the Permanent Secretary Ondo State Primary Health Care Development Agency, Dr. Francis Akanbiemu, said,
“We find this support very useful and important in addressing COVID-19 and hopefully, we’ll eventually bring the pandemic to zero levels… we’re happy and grateful for WHO’s timely intervention and we hope that it can be extended to the other 15 LGAs.”

However, support is required to strengthen risk communication and community engagement, support Infection Prevention and Control among frontline workers, strengthen surveillance at points of entry and support integration of Covid-19 response activities in the other 15 LGAs in the state.

Ondo State recorded its first confirmed case of COVID-19 on 3rd April 2020. Since then, the state has documented a total of 3500 confirmed cases including 65 deaths as of 19 July 2021 in two waves of the pandemic.

SOURCE:https://brandspurng.com/2021/07/26/who-supports-ondo-state-to-integrate-covid-19-sample-collection-as-part-of-essential-services/

Nigeria’s leading composite e-Commerce giant, Konga, has been named the most innovative company of the year. The award was presented to the management of Konga at the 2021 Titans of Tech Hall of Fame Awards held on Friday, July 23, 2021, at the Oriental Hotel, Lekki, Lagos.
The latest award represents another well-deserved recognition for a long list of sterling achievements recorded by Konga in the Nigerian e-commerce market. Equally important, Konga beat out competition from other players such as Payporte, Jumia and to claim the highly coveted award.

In explaining how Konga emerged winners of the award, the event organisers revealed that the outcome was the result of a report released by its intelligence unit which showed that Konga was the clear favourite, even as it credited the company with a string of innovative strategies which have raised the bar in the e-commerce sector.

‘‘The report by our intelligence unit indicates that Konga is today a clear leader in the highly competitive Nigerian e-commerce market, showing that e-commerce can be profitable. The firm’s Omni channel structure in which it operates both online and offline is one of the advantages that has placed the company upfront and ahead of other players.

‘‘Konga continues to demonstrate that the key to a sustainable business is to offer products and services that solve problems and to grow revenue, while effectively managing costs. No wonder it has experienced over 1000 per cent growth in the past three years. The firm has also expanded its reach with its logistics platform Kxpress, established to resolve the perennial challenges of logistics in the industry and indeed the country.

‘‘Konga will equally be conferred with the COVID-19 Pandemic Courage Award for its high-level emergency readiness and proactive actions during the thick of the pandemic that kept it in business, with both staff and customers interacting safely.’’

Speaking while receiving the award on behalf of Konga, Head of Human Resources, Charles Udeozor affirmed that the award was fitting recognition for the landmark strides recorded by the brand, adding that Nigerians should expect more from Konga.

‘‘On behalf of the management of Konga and the entire human resources of the company, I say thank you to the organisers. We receive this award with maximum appreciation. Konga is a brand that is well known…We have been able to expand the ecosystem and today, we have different SBUs.

‘‘We have KongaPay which is a digital bank. We have Kxpress which is our logistics business. We have Konga Food which is coming up. There is Konga Health launched already. We have Konga Travel and others, so we have been doing a lot.

‘‘It is awards and recognitions like these that give us more energy and impetus to continue to do what we are doing, So, we appreciate this. Thank you very much,’’ he enthused.

With a number of thriving entities under its umbrella, Konga has risen to the zenith of the Nigerian e-commerce market, leading the industry with several exciting innovations and strategies that have made it a firm favourite for millions of savvy Nigerian shoppers.

SOURCE:https://brandspurng.com/2021/07/26/konga-named-most-innovative-ecommerce/

The equity market has stayed in the tight clutches of the bears for most of 2021, birthing an understandable level of disinterest by both local and foreign investors alike. On the foreign end, the positive impact of a bullish oil market was overridden by the looming FX concerns and other structural problems that pose as dominant downside risks to broader economic growth.
Likewise, local participants, which consist majorly of Pension Fund Administrators, have found comfort in bank placements and fixed income investments, given that the attractive yields on these fixed return investments disincentivize investments in variable return assets with higher levels of volatility.



Accordingly, save for a few bargain hunting opportunities every now and then, the broad theme of the market has been largely bearish. However, the market recently moved into a new phase, where neither the market bulls nor bears have a significant hold of performance.

What we are observing now is the interaction of an unenthusiastic buy and sell-side, which has left the market more susceptible to price movements in largely capitalized stocks on the exchange.

Fixed income yields pose no significant threat to equity performance in the near term as the equity market seems to have shrugged off the impact of yield movements in the T-bills market and activities around the half-year earnings season is likely to be subdued. The equity market will always have bullish and bearish periods, but the uncertainty is what blights investors.



Nonetheless, cherry-picking stocks of viable companies will always prove useful, as they can easily sit out a market storm or ride an upswing. While short to mid-term strategies come with higher levels of risk given the speculative tactics required, a more plausible approach to equity investing in the context of the prevailing market atmosphere is defaulting to a fundamentalist portfolio, by selecting stocks that possess intrinsic soundness.

The selection of these stocks will not necessarily follow a thematic pattern, as the focus will be directed to the specific opportunities that exist within certain stocks, which in turn allows them to offer decent returns through yields on dividends paid and via capital appreciation.

Stocks in the list must be insulated from headwinds that could blight the various sectors and overall economy, offering a weighted gain well in excess of available fixed return investments. Accordingly, we have our top 5 stock picks at the close of the market today.

The stock mix cuts across securities in the Food and Beverages, Banking and Cement subsectors, with upside potentials above 25%, and with a history of consistency in dividend payments in at least six of the last seven financial periods. While we give some recognition and consideration to the technical readings as dictated by the price trend, the central basis of the selection largely rests on the position of the stock relative to an intrinsic estimate that captures and reflects the quality of the company’s fundamentals.

Dangote Sugar
This stock is attractively poised to offer meaningful gains in the long-term, benefiting off both macroeconomic tailwinds like the underserved sugar demand market that was worsened by a backward integration economic tactic, and from internal efforts to boost production volumes.

In the first quarter of this year, the company’s production volume was up by 4.3% to 200,783 tonnes, revenue inched up to N67.39 billion indicating an increase of 41.5%, and the Profit Before Tax surged by 25.6% to N11.95 billion, all relative to the levels attained in the corresponding period of 2019.

Also, the fundamental strength is bolstered by its technical attractiveness, with the 14-day relative strength index (RSI) at 26.44. In addition, the firm is relatively attractive with a PE ratio of 7.24x, compared to the industry average of 12.3x.

Zenith Bank
Zenith Bank was the most profitable bank in 2020, with a very impressive balance sheet size and above adequate capital buffers. The company was one of the highest dividend-yielding stocks last year, and the lender also benefits from an attractive valuation. Zenith’s asset quality, as defined by the non-performing loans is below the regulatory limit of 5.00%, at 4.20%.

Despite a 5.70% dip in the gross earnings in Q1’2021, the lender was able to grow its profit before tax by 5.02% to N53.06 billion, by moderating the cost components in its interest and operational segments. Nonetheless, the remarkable interim and final dividend payments consistently declared over the past years is expected to continue to bode well for the stock.

At the current market price, the stock has a robust upside opportunity of 37.79%. Also, the stock is relatively attractive with a PE ratio of 3.32x compared to an industry average of 4.00x. However, with the RSI tending close to the overbought region at 66.10, we will limit the portfolio exposure to 15%.

Wapco
Wapco continues to benefit from reasonable expectations of larger spending on infrastructure by both the private and public sectors, given the drive to close the country’s infrastructure deficit. The cement producer is also supported, by corporate restructuring moves particularly with respect to its balance sheet optimization, and by cost reduction strategies. In the first quarter of 2021, the firm reported a 12.2% y/y growth in revenue to N71.5 billion, driven by a 12.3% rise in Cement Sales.

Wapco is the most attractively priced of all cement producers listed on the bourse, with a PE ratio of 10.90x, relative to the African basic materials industry average of 21.7x. At the current market price, the stock offers a descent upside potential of 29.24%.

UBA
UBA takes the largest quotient of the portfolio mix at 35%, bolstered largely by its fundamental attractiveness and by its relative cheapness. The lender boasts of a low non-performing loan ratio of 4.70%, robust deposit growth, and industry-best cost of risk at 0.90%.

The decline in the dividend announced in the 2020 financial year has caused investors to ignore the strength of its African business network and its strong interest segment.

Of all tier-one lenders, UBA is one of the most attractively priced based on a price to earnings comparison, with a PE ratio of 2.3x compared to an industry average of 4.00x.

Flourmill
Flourmill is supported by the increasingly inelastic nature of the demand for wheat-based products. Likewise, the protectionist stance of the authorities has been helpful to the firm, as the insufficiency of the supply of our favourite staple food item, rice, has forced consumers in droves to start consuming pasta and other wheat-based products. The firm is one of the largest millers in Nigeria, with a well-diversified business structure.

In the full-year period ended 31st of March 2021, the company’s revenue was up by 34% to an N771.61billion, on the back of improvements in all three major revenue segments (Food, Agro-allied and Sugar).

Also, the stock has a robust upside, and remains relatively attractive with a PE ratio of 4.70x, compared to an industry average of 12.3x.

SOURCE:https://brandspurng.com/2021/07/26/top-5-stock-picks-flash-recommendation/

In furtherance of its commitment to training artisans and other professionals within the built environment, the International Facility Management Association (IFMA) Nigeria Chapter has partnered with the Lagos State Development and Property Corporation (LSDPC) to train artisans within the built industry tagged “A Day with the Artisan” which took place at the LSDPC complex, Ilupeju, Lagos.
In his address, the President IFMA Nigeria, Mr. Segun Adebayo noted that this training session is a part of the capacity building strategy of the association aimed at ensuring that the built environment in Nigeria can be updated with leading standards.

According to him, “this training is part of our purpose as a forward-thinking association and in line with our strategic plans to continually provide capacity building, learning and knowledge development for operators and industry players in the built environment, we are happy to offer a complimentary interactive session with the artisans of the Lagos State Development And Property Corporation.”

“The interactive session tagged “A Day with the Artisan” is part of our Corporate Social Responsibility initiative aimed at exposing artisans to capacity building, knowledge development, soft skills enhancement, and the re-orientation of job responsibilities,” he added.

The session aimed at educating the artisans on how to improve the quality of job delivery and its attendant impact on the service delivery of the Corporation. We will also be deploying our experienced faculty to transfer knowledge to them in specialist and generalist areas of the ecosystem of the built environment.

In his opening remarks, Arc. Dhikrullah Har-Yusuph the Managing Director, LSDPC, appreciated IFMA Nigeria Chapter for the initiative. He expressed the need for excellence in the profession of property development and management. He charged his staff and the participants to pay close attention to what they will be learning because their role is critical to the success of facility management in the state.

The experts who spoke on the varying topics on Facility Management include:
ESV Stephen Ola Jagun, CFM, FNIVS, FRICS (First IFMA Fellow in Africa) and Past President, IFMA Nigeria;
Miss Iyabo Aboaba, Doyen of Facility Management and Past President IFMA Nigeria Chapter;
Engr. Sheriff Daramola, ED/COO, Specific Tools Techniques Ltd and General Secretary, IFMA Nigeria Chapter;
Engr. Silas Ofoegbu, CEO Spicon Consult and
Mr. Adeniyi Ifaturoti, Treasurer, IFMA Nigeria Chapter.
Some modules for the training are- Elements of Facility Management; Understanding the Importance of an Artisan in the Built Environment; The role of Artisans in Operations & Maintenance of a Serviced apartment and Facility Management soft skills. There was also an Experience & Inspiration Session. A total of 50 participants were trained during the two-day workshop.

The International Facility Management Association (IFMA) Nigeria Chapter has been involved in various capacity building programmes that have enhanced the capacity of the public and private sector stakeholders in the built environment. The association is a partner to Applied Engineering Technology and the University of Lagos.


SOURCE:https://brandspurng.com/2021/07/26/ifma-nigeria-partners-lsdpc-to-train-artisans-within-the-built-environment/

Player Unknown’s Battlegrounds or more popularly known as PUBG launched a mobile version of its game in 2018 and still continues to dominate charts in 2021.

According to data presented by Safe Betting Sites, PUBG Mobile was the highest-grossing mobile game in H1 of 2021 – $832M in player spending.

PUBG Mobile Generates $832M In Revenue In H1 2021
PUBG Mobile was launched in 2018 as the main game’s mobile, free-to-play version on iOS and Android. Since PUBG Mobile’s release, many other big titles such as Call of Duty have also turned to the free-to-play model after seeing PUBG Mobile’s success. Almost three years after its release, PUBG Mobile was ranked as the highest-grossing mobile game in the first half of 2021.

From January to June 2021, PUBG Mobile grossed $832M in revenue – the highest among mobile games. PUBG Mobile’s H1 revenue was more than $150M more than the next highest-grossing game, Honor of Kings which grossed $664M. Genshin Impact is the third highest-grossing game and the only other game to gross more than $500M in the first half of 2021.

In the first quarter of 2021, PUBG Mobile recorded $709M in player spending – an almost 28% QoQ increase from Q4 2020. PUBG Mobile’s monthly performance in 2021 has also been noteworthy, recording more than $200M in player spending for each month since the turn of the year. This feat had not been achieved since the months immediately preceding the pandemic.

Rex Pascual, eSports editor at Safe Betting Sites, commented saying, “The free-to-play, mobile version model is now adopted by numerous big titles but the PUBG franchise was one of the first major titles to do so. Proof of its success is that despite equally large rivals such as the Call of Duty franchise recently adopting the same model, PUBG Mobile remains on top of many gaming charts as shown by the data from H1.”

SOURCE:https://brandspurng.com/2021/07/24/pubg-mobile-highest-grossing-mobile/

Crypto Experts has predicted that the Bitcoin Price Rising to $318,417 by December 2025. Some of the experts believe that the price of cryptocurrency will reach $160,000 by the end of the year.
Finder conducted a study to find out the future outlook of bitcoin as its popularity grows. “As awareness of cryptocurrencies continues to spread, all eyes are on bitcoin’s price. So we asked our panel of 42 cryptocurrency experts what’s in store for the coin,”.

The majority of panelists (61%) say Bitcoin is currently undervalued and on average the panel expects Bitcoin to end 2021 at US$66,284 per BTC. This is 28% higher than the panel’s end-of-2021 prediction back in December 2020, but 30% lower than the end-of-2021 prediction in April of this year.

The panelists include crypto asset managers, executives of crypto exchanges and other service providers, cryptoanalysts, professors, and lecturers at universities. Among various topics discussed was what the price of bitcoin will be at the end of the year and a few years from now.

Furthermore, the “Panelists predict that by December 2030, the price of bitcoin will go up to a whopping $4,287,591 per BTC. However, the average is skewed by outliers – when we look at the median price prediction, the 2030 price forecast comes down to $470,000,” Finder wrote.

As for what the price of bitcoin will be at the end of the year, the majority of panelists (61%) said bitcoin is currently undervalued and on average the panel expected the price of the cryptocurrency at the end of 2021 to reach $66,284 per coin.

Wave Financial senior trader Justin Chuh gives a lower-than-average EOY prediction of US$56,000, but expresses confidence in Bitcoin as the “tried-and-true safe haven” of digital assets:

“As crypto-assets continue to spring up, most will ultimately fail, and funds will eventually rotate back to Bitcoin as the tried-and-true safe haven and store of wealth. Investors in alt coins ultimately must have some faith in cryptocurrencies. But when their flavour of the day fails, hopefully they realise only some of the digital assets in existence will actually accomplish what they need.”

Panellists like Thomson Reuters technologist and futurist Joseph Raczynski and Arcane Crypto analyst Vetle Lunde, who give EOY predictions of US$75,000 and US$120,000, respectively, attribute their predictions to the move toward the institutionalisation of Bitcoin.

“We’re standing in the midst of the institutionalisation of Bitcoin,” Lunde says. “More funds are joining the space, the first country has adopted Bitcoin as legal tender, and we have several exchange-listed companies now owning Bitcoin. I believe this trend will continue onwards.”


However not everyone is as bullish. University of Canberra senior lecturer John Hawkins, who is among the most bearish and gives an EOY prediction of US$20,000, thinks that countries adopting Bitcoin will actually have a negative impact on its price:

“I’m assuming El Salvador adopting it as legal tender puts a floor for a while. But after the price has dropped a lot, they may remove the legal tender status.”

Trade the Chain cofounder Ryan Gorman gives a prediction just below the panel average at US$60,000 per BTC by EOY. According to Gorman, prices will not likely surpass previous highs in the near future. However, he does think that “some of the more outlandish price predictions we’ve seen are entirely plausible on a long enough time horizon.”

SOURCE:https://brandspurng.com/2021/07/24/bitcoin-price-rise-318417-decem-2025/

Mercedes-Benz is getting ready to go all-electric by the end of the decade, where market conditions allow. Shifting from electric-first to electric-only, the world’s preeminent luxury car company is accelerating toward an emissions-free and software-driven future.
By 2022, Mercedes-Benz will have battery electric vehicles (BEV) in all segments the company serves. From 2025 onwards, all newly launched vehicle architectures will be electric-only and customers will be able to choose an all-electric alternative for every model the company makes. Mercedes-Benz intends to manage this accelerated transformation while sticking to its profitability targets.

“The EV shift is picking up speed – especially in the luxury segment, where Mercedes-Benz belongs. The tipping point is getting closer and we will be ready as markets switch to electric-only by the end of this decade,” said Ola Källenius, CEO of Daimler AG and Mercedes-Benz AG.

“This step marks a profound reallocation of capital. By managing this faster transformation while safeguarding our profitability targets, we will ensure the enduring success of Mercedes-Benz. Thanks to our highly qualified and motivated workforce, I am convinced that we will be successful in this exciting new era.”

To facilitate this shift, Mercedes-Benz is unveiling a comprehensive plan which includes significantly accelerating R&. In total, investments into battery electric vehicles between 2022 and 2030 will amount to over €40 billion. Accelerating and advancing the EV portfolio plan will bring forward the tipping point for EV adoption.

Technology Plan
Architectures: In 2025 Mercedes-Benz will launch three electric-only architectures:
MB.EA will cover all medium to large size passenger cars, establishing a scalable modular system as the electric backbone for the future EV portfolio.
AMG.EA will be a dedicated performance electric vehicle platform addressing technology and performance-oriented Mercedes-AMG customers.
VAN.EA ushers in a new era for purpose-made electric vans and Light Commercial Vehicles, which will contribute to emission-free transportation and cities in the future.
Vertical integration: After reorganizing its powertrain activities to put planning, development, purchasing and production under one roof, Mercedes-Benz will deepen the level of vertical integration in manufacturing and development, and insource electric drive technology. This step includes the acquisition of UK based electric motor company YASA. With this deal, Mercedes-Benz gains access to unique axial flux motor technology and expertise to develop next-generation ultra-high performance motors.

In-house electric motors, such as the eATS 2.0, are a key part of the strategy with a clear focus on efficiency and the overall cost of the entire system, including inverters and software. China, the world’s largest new energy vehicle (NEV) market, which is home to hundreds of companies and suppliers specialized in EV components and software technologies, is expected to play a key role in accelerating the Mercedes-Benz electrification strategy.

Batteries: Mercedes-Benz will need a battery capacity of more than 200 Gigawatt hours and plans to set up eight Gigafactories for producing cells, together with its partners around the world. This is in addition to the already planned network of nine plants dedicated to building battery systems.

Next-generation batteries will be highly standardized and suitable for use in more than 90% of all Mercedes-Benz cars and vans while being flexible enough to offer individual solutions to all customers. With regard to cell manufacturing, Mercedes- Benz intends to team up with new European partners to develop and efficiently produce future cells and modules, a step that ensures that Europe remains at the heart of the auto industry even in an electric era.

Cell production will give Mercedes-Benz the opportunity to transform its established powertrain production network. By continuously integrating the most advanced battery cell technology in cars and vans, Mercedes- Benz aims to increase range during the production lifecycle of a model.

With the next battery generation, Mercedes-Benz will work with partners like SilaNano to further increase energy density by using silicon-carbon composite in the anode. This will allow for unprecedented range and even shorter charging times. When it comes to solid-state technology, Mercedes-Benz is in talks with partners to develop batteries with even higher energy density and safety.

Charging: Mercedes-Benz is also working on setting new standards in charging: “Plug & Charge” will allow customers to plug-in, charge and unplug without extra steps needed for authentication and payment processing. Plug & Charge will go live with the market launch of the EQS later this year.

Mercedes me Charge is already one of the world’s largest charging networks and currently comprises more than 530,000 AC and DC charging points worldwide. Furthermore, Mercedes-Benz is working with Shell on expanding the charging network. Customers will get enhanced access to Shell’s Recharge network consisting of over 30,000 charge points by 2025 in Europe, China, and North America – including over 10,000 high-power chargers globally.

Mercedes-Benz is also planning to launch several premium-charging sites in Europe, which will offer a bespoke charging experience with top-notch facilities.

VISION EQXX: Mercedes-Benz is currently developing the Vision EQXX, an electric car with a real-world range of more than 1,000 kilometres (621 miles), targeting a single-digit figure for Kwh per 100 kilometres (over 6 miles per Kwh) at normal highway driving speeds.

A multi-disciplinary team including experts from Mercedes- Benz’s F1 High-Performance Powertrain division (HPP) is making rapid progress towards the project’s ambitious goals. The world premiere will be in 2022. Technological advances made with Vision EQXX will be adapted and applied for potential use in new electric architectures.

Production Plan
Mercedes-Benz is currently preparing its global production network for electric-only output with the pace of the ramp-up designed to follow market demand. Thanks to early investments into flexible manufacturing, and the state-of-the-art MO360 production system, Mercedes-Benz can mass-produce BEVs already today. As soon as next year, eight Mercedes-Benz electric vehicles will be produced at seven locations on three continents.

Furthermore, all passenger car and battery assembly sites run by Mercedes-Benz AG will switch to carbon-neutral production by 2022. To enhance manufacturing efficiency, Mercedes-Benz is joining forces with GROB, a German global leader in highly innovative battery production and automation systems, strengthening its battery production capacity and know-how.

The cooperation focuses on battery module assembly as well as pack assembly. Mercedes-Benz also plans to install a new battery recycling factory in Kuppenheim, Germany, to develop and secure recycling capacity and know-how. The start of operations will be in 2023, depending on the outcome of promising discussions with public authorities.

People Plan
The transition from internal combustion engines to electric vehicles is feasible and already underway at Mercedes-Benz. Working together with employee representatives, Mercedes-Benz will continue the transformation of its workforce, making use of extensive re-skilling schemes, early retirement as well as buyouts. TechAcademies will be offering colleagues training for future-oriented qualifications.

In 2020 alone, about 20,000 employees in Germany were trained in aspects of e-mobility. To deliver on plans for developing the MB.OS operating system, 3,000 new software engineering jobs will be created worldwide.

Financial Plan
Mercedes-Benz remains committed to the margin targets outlined in fall 2020. Last year’s targets were based on the assumption of selling 25% hybrid and electric vehicles by 2025. Today’s reiteration is based on an assumed xEV share of up to 50% by 2025 and a market scenario for new car sales which in essence has switched to fully electric by the end of the decade.

An important lever is to increase net revenue per unit by raising the proportion of high-end electric vehicles such as Mercedes-Maybach and Mercedes-AMG models, while at the same time taking more direct control over pricing and sales. Rising revenue from digital services will further support results.

Mercedes is also working on further reducing variable and fixed costs and cutting the CAPEX share of investments. Common battery platforms and scalable electric architectures combined with advances in battery technology, will bring higher degrees of standardization and lower costs. The proportion of battery costs within the vehicle is expected to fall significantly.

Capital allocation is moving from EV-first to EV-only. Investments in combustion engines and plug-in hybrid technologies will drop by 80% between 2019 and 2026. On this basis, Mercedes-Benz projects company margins in a BEV world that are similar to those in the ICE era.

“Our main duty in this transformation is to convince customers to make the switch with compelling products. For Mercedes-Benz, the trailblazing EQS flagship is only the beginning of this new era,” Källenius said.

SOURCE:https://brandspurng.com/2021/07/22/mercedes-benz-prepares-go-all-electric/

MoneyGram International has announced the closing of its previously announced private offering of $415 million aggregate principal amount of 5.375% senior secured notes due 2026 (the “notes”) and related guarantees (as defined below).

Substantially concurrently with the closing of the offering, the Company closed a new $400 million senior secured term loan, and also now has a new undrawn revolving facility of $32.5 million, both pursuant to a new credit agreement, dated as of July 21, 2021 (the “New Credit Agreement”), by and between the Company, as the borrower, the lenders from time to time party thereto, and Bank of America, N.A., as administrative agent.

The Company used the net proceeds from the offering and the closing of the term loan to prepay the full amount of first lien and second lien indebtedness under its existing senior secured credit facilities, and to pay related accrued interest, fees and expenses.

The notes are unconditionally guaranteed, jointly and severally, on a senior secured basis (collectively, the “guarantees”), initially by the Company’s subsidiaries that guarantee borrowings under the New Credit Agreement, and by certain future wholly-owned domestic subsidiaries (the “guarantors”).

The notes are secured, on an equal and ratable, first-priority basis with obligations under the New Credit Agreement by liens on substantially all of the assets of the Company and the guarantors, subject to certain exceptions and inter-creditor arrangements.

The notes and related guarantees were offered only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States to certain non-U.S. persons in compliance with Regulation S under the Securities Act.

The issuance and sale of the notes and related guarantees have not been, and will not be, registered under the Securities Act or the securities laws of any state or other jurisdiction, and the notes and related guarantees may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and other applicable securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the notes and related guarantees. Offers of the notes and related guarantees were made only by means of a private offering memorandum, and are not being made to any person in any jurisdiction in which such offer, sale or solicitation is unlawful.

SOURCE:https://brandspurng.com/2021/07/22/moneygram-closing-of-private-offering/

Same here, My number was replaced with NOK mobile number and Label appeared as my NOK number.

After carefully checking before submitting. The print out page carry my NOK number as my number and Placed "LABEL"" infront of NOK number. anyone with a solution to that?

Picodi analysis team examined the change in petrol prices in the first half of 2021 compared to the previous year and counted how many litres of petrol Nigerians can buy for the average wage.
Increase of prices on petrol stations
The first half of 2021 was characterised by the gradual defrosting of the economy and an increase in petrol prices compared to the first half of 2020. In African countries, the highest price spikes were noted in Nigeria (+28.3%), Kenya (+18.1%), and South Africa (+12.1%).

In Nigeria, according to the Numbeo data, the average monthly net salary amounts to ₦71,942.16. It means that an average Nigerian can buy 431 litres of petrol for the average monthly wage (4th place). In the previous year, Nigerians could buy 539 litres of petrol for the average wage. The opposite trend was noted only in Egypt and Tunisia, where the average year to year petrol prices slightly decreased.

Petrol Index 2021
In African countries, Algerians fill up petrol the cheapest – in this country, 1 litre of petrol costs $0.34. South Africa has the highest prices at $1.14 per 1 litre. In Nigeria, the average petrol price in the first half of 2021 was ₦166.80 or $0.42, which means it placed 2nd out of 7 considered countries.

This year, we checked again how many litres of petrol can be bought for the average wage in various African countries.

For the third year in a row, the undefeated leader of the ranking is South Africa with 1,237 litres of petrol. Algeria and Kenya complete the podium with 742 and 437 litres respectively.

Lower in the ranking were countries such as Tunisia (414 litres), or Egypt (401 litres). Zambia took the last place with 214 litres.

Among 104 researched countries, the lowest petrol price was noted in Algeria ($0.34 per litre), and the highest price – in Hong Kong ($2.44 per litre).

In the global purchasing power ranking, the Gulf countries are consistently on the podium:
Qatar – 6,532 litres;
Saudi Arabia – 5,170 litres;
Kuwait – 5,158 litres.
Americans can buy 4,723 litres of petrol for the average wage, Australians – 4,128 litres, Canadians – 2,616 litres, and Russians – 938 litres.
The worst situation was noted in Cuba. In this country, 26 litres of petrol can be bought for the average wage (2 litres less than in the previous year). Only a little better were Tajikistan and Zambia, with 188 and 214 litres.

It is also worth looking at Venezuela. This country struggles with an unstable economic situation, yet maintained last year’s limits on petrol purchases. Each citizen can buy 120 litres of petrol for about $0.002 per litre. Once the limit is exceeded, the price of petrol increases to $0.50 per litre.

According to our calculations, the average wage in this country allows you to buy 230 litres of petrol (120 litres of subsidised and 110 litres in full price) which is 82 litres more than last year.

Petrol Index is an annual ranking of petrol prices to wages ratio, conducted by Picodi since 2019. This report uses the average net monthly wages according to the latest available data provided by offices for national statistics or relevant ministries. In some countries, where official wage statistics are not available, we used information from Numbeo.

The average prices for the first half of 2021 in 104 countries are based on data from globalpetrolprices.com and other local sources. In order to obtain the number of litres, we divided the average wage by the average price of 1 litre of petrol. For currency conversion, we used the Google Finance average exchange rate for the last 90 days.

SOURCE:https://brandspurng.com/2021/07/22/petrol-index-nigeria-highes-price-spike/

Streaming giant, Netflix revenue increased 19% year over year to $7.3 billion, while operating income rose 36% year over year to $1.8 Billion in Q2. Netflix finished the quarter with over 209m paid memberships, slightly ahead of its forecast.
The streaming giant added 1.5m paid memberships in Q2, slightly ahead of the 1.0m guidance forecast. The Asia-Pacific (APAC) region represented about two-thirds of our global paid net adds in the quarter.

The pandemic (COVID-19) created some lumpiness in the company’s membership growth (higher growth in 2020, slower growth this year), which is working its way through. The company is forecasting 3.5 million net subscriber adds in the 3rd quarter of 2021.

Netflix has had a rough 2021 so far in terms of subscriber growth. In Q1 2021, it added only 4 million subscribers, below the 6 million it had forecast (it added 15.8 million in the same quarter a year earlier).

Netflix’s revenue growth was driven by an 11% increase in average paid streaming memberships and 8% growth in average revenue per membership (ARM). ARM rose 4%, excluding a foreign exchange (FX) impact of +$277m.

The operating margin of 25.2% expanded 3 percentage points compared with the year-ago quarter. EPS of $2.97 vs. $1.59 a year ago included a $63m non-cash unrealized loss from FX remeasurement on our Euro-denominated debt.

Netflix recently expanded its low-cost mobile-only plan to an additional 78 countries across South East Asia and sub-Saharan Africa. Netflix sees the launch of the mobile-only plan as an effective way to introduce more consumers to Netflix while being roughly revenue-neutral as the lower average revenue per membership is offset by incremental acquisition and generally better retention.

SOURCE:https://brandspurng.com/2021/07/21/netflix-1-5m-subscriber-operatin-profit/

Nollywood actor Odunlade Adekola has recently renewed a three-year contract with pioneer brewing company, Nigerian Brewery, under its top-performing brand Goldberg Lager Beer.
Goldberg was acquired by Nigerian Breweries in 2011, reformulated, repackaged and relaunched in 2012. Goldberg became the ‘godfather’ of lager beers in 2016, commanding a top market share. Goldberg is however returning stronger this year with its new look unveiled at the finale of the talent hunt show, Ariya Repete.

Please see the images below:

SOURCE:https://brandspurng.com/2021/07/20/photo-news-goldberg-announces-multi-year-contract-extension-with-odunlade-adekola/

With global cybercrime growing exponentially, business and private users all need to protect themselves against these real threats. Here we have outlined some of the increasing Cybersecurity threats in Nigeria and how to protect yourself.
Phishing Scams
Phishing is now one of the most prevalent forms of cybersecurity attacks. Phishing is when a hacker attempts to trick someone into providing personal and sensitive information and downloading malware. Phishing has become incredibly prevalent due to the increasing use of all forms of electronic communication. Hackers take advantage of forms of communication that everyone uses daily, instant messaging, social media accounts, texts, emails etc.

Possibly the most common form of phishing scam is attempted through email. An email is created to look like an official body such as the local government or bank; you are then asked to fill in personal information to access the side. The best defence against this type of cybersecurity attack is awareness of the signs of a possible attack. For example, usually, the request for sensitive information is unusual, and incorrect grammar and language are often used. It is essential to educate yourself, or your staff on how to identify phishing, and of course, installing antivirus software is critical.

Auto Redirects
With auto redirects or URL redirection, the attacker will get a user to unknowingly redirect to a malicious website. In some cases, you are redirected to a website that looks like your intended URL or by having the user click on a link. The attacker will use this method to download malware to the victim’s computer or other device and steal data. Another method of redirection is when a user receives an urgent message or pop-up saying you have won something, or that your device is infected with a virus or malware.

Unfortunately, we are all vulnerable to this method of attack, and, in the last few years, high-profile attacks have been on the rise, with around 95% of auto-redirects leading to scams. Fortunately, it is now possible to protect against and prevent auto-redirect ads. Cutting-edge technology means a user can monitor and block known issues and detect and block threats in real-time. These technologies mean you can block and eliminate malicious ads and exclude inappropriate ad content.

Deepfakes
Deepfakes is a type of AI and comes from deep learning technology. This technology can be used to swap out faces in videos and other digital content. It means that an image can be manipulated to show a person involved in an activity that did not happen. Deepfakes pose a cybersecurity threat as they can be used to commit identity fraud. Despite the fact that deepfakes are becoming more advanced and realistic, it is also becoming possible to protect against these AI technologies.

Companies have been creating new technologies and algorithms that can compare deepfakes with authentic videos with a digital fingerprint, which means it’s possible to protect against the threat of deepfakes.

Cyberattacks, threats, and criminals have become more sophisticated in their approach. Fortunately, simple steps and technologies are being developed to protect you and your business from such attacks.

SOURCE:https://brandspurng.com/2021/07/20/increasing-cybersecurity-threat-in-2021/