₦airaland Forum

According to experts, many small business owners are quick to plough their earnings back into their business than invest in another business or investment scheme. Often, entrepreneurs may say they do not have the disposable income to invest, thus making them lack the basic understanding of what it means to invest or diversify one’s portfolio.

As a small business owner, it is important to find a balance between reinvesting in your own business and investing in other opportunities, in order to ensure that you diversify your stream of income. To do this effectively, you should have a financial plan that enables you to put a structure on how you spend your earnings. Depending on how much cash you require to run your business monthly you can allocate a percentage to managing your business overhead (which should include paying yourself); another to reinvesting in your business and a percentage for other investment opportunities. The percentage allocated to other investment opportunities can be as low as ten percent, which can be devoted to money or capital market instruments or other future investment plans.

Investing is critical because it helps one hedge against inflation which has a negative effect on savings. Also, it gives entrepreneurs peace of mind and stability knowing that if everything else fails, there are other options of sustaining the business or oneself. As alluded by investment advisors, entrepreneurs need to avoid certain money mistakes and build their company as if it will last forever, while investing personal wealth as if everything will collapse tomorrow. According to Moshe Milevsky, the author of Are You a Stock or a Bond? “when it comes to your portfolio, you should be a little more bond-centric as a hedge against your risky line of business”. Some investment options to consider are:

Equities

Public or Private equities are securities that enable one to acquire a stake in another organization. Equities are risky investments but yield high returns and are often advised to be held for a long time because they are capital market instruments.

As an entrepreneur seeking to invest in publicly quoted companies (that is companies listed on a stock exchange), you can start with penny stocks (stocks trading between N0.5k and N1) that have high potentials, since they allow you own a larger unit of shares with little amount compared to investing in big-caps. However, it should be noted that penny stocks should not be held for too long; thus, it is often advisable to hold for about one to six months, monitor the price to know when it appreciates and dispose of it to invest in another stock with good prospects. If you are more interested in dividends, you can consider big-cap stocks with a good record of dividend payout, though these stocks are usually more expensive to purchase.

On the other hand, with private equity, you can invest in other people’s businesses within or outside your industry, thereby enabling you to diversify your risk.

Mutual Funds
These are collective investment schemes that allow investors to pool their funds together to be professionally managed by an asset management firm with a good track record of performance. With mutual funds, your funds can be invested in multiple investment schemes such as T-bills, stocks, bonds, real estate, etc.

Mutual funds are particularly beneficial for investors who do not have the time to monitor activities in various financial markets and you can start with as low as N5000. In addition, you can take advantage of the expertise of these fund managers who are always on top of ensuring that they earn higher returns on their funds.

Treasury Bills (T-Bills)
T-bills as they are often called, are one of the safest investment options available because they have low risks with a fixed interest rate, though inflation could erode your gains from this investment scheme. They are debt instruments issued by the Central Bank on behalf of the Nigerian government to finance a deficit in the budget. Treasury bills can be held for 91days to one year, and they are guaranteed by the Federal Government. There is no default, while income from T-Bills are tax-free.

Investing in T-Bills is also a good option for entrepreneurs to consider because they are short term instruments and can be easily converted to cash. Also, returns from T-Bills are usually at a higher interest than those offered by banks on a savings account; while the T-bills certificate can be used as collateral for bank loans.

Commercial Papers (CPs)
These are unsecured short-term debt instruments issued by corporates to access funds from private individuals, institutional investors, non-governmental organisations, religious bodies etc. to cater to their short-term debt obligations such as working capital needs. They are often issued at a discount for a period of 15 – 270 days.

CPs in Nigeria are often issued by blue-chip corporates with impressive financial performance and they offer investors the opportunity to purchase better yielding instruments than available on risk-free instruments if they are willing to take the calculated risk. Interest earned on CPs is also tax-exempt and certificates issued can be used as collateral or as evidence of investment for visa application.

Beyond the investment schemes discussed above, it is also important to have a pension plan which enables you to enjoy a reasonable income after retirement asides other earnings from your business. Plus, life insurance which protects your beneficiaries and company from financial loss, liabilities or instability in the case of death should be considered.

In conclusion, it is advisable to liaise with a financial advisor who can help structure a balanced portfolio based on your risk profile, cash flow requirements and investment objectives. Essentially, you should take your savings a step further and invest them, to hedge against inflation and any other risk associated with your business.

SOURCE:https://brandspurng.com/2020/10/15/investment-schemes-you-should-consider-as-a-small-business-in-nigeria/

Recently on African Voices Changemakers, CNN’s Arit Okpo meets the Ikorodu Bois, the Nigerian kids using their creative talent to take over social media and Hollywood.

The Ikorodu Bois became popular making viral, low-budget recreations of music videos and movie trailers on social media. Their videos have been watched and shared by millions of people around the world.

CNN joins the Ikorodu Bois as they recreate Burna Boy’s ‘Wonderful’ music video. On set, Babatunde Sanni speaks about his family’s success, “Use our story as a big motivation for everybody because you don’t have to get the biggest thing to start shooting, make use of the things you have around you to create, be creative. And you should know that no talent should be buried.”

The group began filming their videos just two years ago. Babatunde discusses their early projects, “When we started in 2018, it was just for fun. Our house is like a comedy house. We were always doing this thing for fun, for play, for jokes.”

The response to these early videos on Instagram signalled that the Ikorodu Bois were onto something. Shot for shot, the group were able to keep up with big money productions, using only household items and low-budget props. Babatunde tells Okpo about his family’s resourcefulness, “We were just trying to make people understand that creativity has no limits and you can actually make use of the things you have around you to produce and do a lot of creative things.”

After tackling music videos, the Ikorodu Bois started to re-enact movie trailers. Babatunde says that these videos are what his family is most passionate about, “The movie trailers we jumped on is like the most interesting part we’ve ever done. Cause this movie re-enacting now actually opens a career path for us, me and my brothers. And it actually gives us the full passion of achieving our dreams, which is acting and filmmakers.”

Their videos have drawn hundreds of thousands of likes and have caught the attention of Hollywood stars. Actors Will Smith and Chris Hemsworth have shared the Bois’ work, while Netflix sent the group gifts including high-tech filming equipment.

Babatunde says that the endorsement he is most proud of is from filmmakers the Russo Brothers. He talks about what this recognition means, “It was unbelievable because we were just doing it because we felt, and we had the belief that, one day people would actually give us this full support and people would actually understand the creative part. The fact that the Russo Brothers actually appreciated, and they understand the creativity we have in our videos is a very big and very huge honour for us.”

The Ikorodu Bois are continuing to film new projects and Babatunde hopes that they can leverage their success to find careers in the film industry, “The real motive is not because of money, we’re just channelling our energy to become what we want to be. That is where the passion is coming from right now. The ultimate dream is to be filmmakers, me and my younger brothers to be filmmakers, to be producers, to be actors. That’s like the major dream.”

SOURCE:https://brandspurng.com/2020/10/15/cnns-african-voices-changemakers-meets-the-ikorodu-bois/

Nigeria’s international brand, Mikano, has penned down a strategic and exclusives partnership with the Geely Automobile International Corporation, for its automotive brands in Nigeria.

This agreement, however, means that Geely vehicles will now be assembled in Nigeria, at the Mikano Motors Assembly Plant.

According to the partners, this validated local assembly structure, assures clients on the vast availability of spare parts.

Mikano said in a statement that, “the partnership with Geely, was yet an important step towards extending its role of delivering premium quality products and services to the automotive sector”.

“For more than 27 years, Mikano has been providing premium quality products to the Nigeria market, by building global strategic alliances with the world’s largest manufacturers.”

Geely is the current owner of Volvo Car Group, and the biggest single shareholder of Daimler AG (to which Mercedes Benz belongs). This allows it to acquire the highest global and future technologies in the automotive industry. Its sales exceeded 2.1 million cars, placing it among the world’s top car manufacturers.

Over the past 10 years, Geely has invested more than $14 billion in research and development (R&) and plans to invest more in the next five years, in a commitment to providing the highest level of modern technologies in the industry and has recorded notable growth indexes.

SOURCE:https://brandspurng.com/2020/10/13/mikano-geely-to-start-assembling-vehicles/

The Lagos State Government will soon establish a processing centre for the fisheries and aquaculture sector to offtake the produce from registered farm clusters and fish farm Estates in a bid to set profit margins for farmers.
The State Acting Commissioner for Agriculture, Ms. Abisola Olusanya, who made this known at the Quarterly Forum for Fish and Crop Farmers organised by the Lagos State Agricultural Inputs Supply Authority (LAISA) at the Odogunyan Fish Farm Estate, Ikorodu, explained that this became necessary because the State had realised that a lot of the fish farmers had problems with marketing and sales.

Olusanya stated that Lagos strives to add value, especially for agricultural products which would translate to more foreign exchange earnings, food sufficiency, food security, increased Gross Domestic Product (GDP), and subsequently provide more profit and improved livelihood for farmers.

According to her, there are several small clusters of smallholder farmers in the fisheries and aquaculture sector, who lack clarity about profit margins and experience low productivity level, noting that the State Government will support the trade to alleviate poverty among the farmers.

Olusanya explained that the Processing Centre would be on a Public-Private Partnership (PPP) with the capacity to process no fewer than 20,000 metric tons of fish for local sale as well as export.

“This arrangement is on a Public-Private Partnership (PPP). The process is ongoing and we hope to be able to start it this year. The idea is for this one facility alone to be able to process at least nothing less than 20,000 metric tons of fish and after processing, this fish can be sent to other States in Nigeria or it can also be exported”, she averred.

Disclosing that the developmental objectives for the Agricultural Sector extended beyond providing market access for farmers, Olusanya added that it also includes capacity building and empowerment which the State is currently carrying out under the Agro-Processing, Productivity Enhancement and Livelihood Improvement Support (APPEALS) Project, the Lagos Agripreneurship Programme (LAP) and the Lagos State Farm Service Centre at Oko-Oba where executive programmes are organised for farmers and would-be farmers.

While noting that some of the best students who took part in the Lagos Agripreneurship Programme earlier this year have since been empowered with facilities built for them, the Commissioner explained that with the APPEALS project, over 6,000 people have been trained and under the Women and Youth Scheme while more than 1,300 people have undergone training in the various agricultural value chains towards ensuring that food sustainability and security is top of the line in Lagos.

SOURCE:https://brandspurng.com/2020/10/12/lagos-to-establish-fish-processing-centre/

Africa’s leading foods and manufacturing conglomerate, BUA Group, on Friday, signed an agreement with FAVA of Italy for the supply and installation of a pasta processing plant with a total capacity of 720tons per day of pasta across 5 lines which, when completed in 2021, will see BUA become the second-largest pasta producer in Nigeria.

This new plant will complement BUA Group’s already existing 720tpd pasta processing plant in Port Harcourt, bringing BUA’s total installed pasta processing capacity to 1,440tons per day across 10 lines by the end of 2021.

Speaking during the signing, Abdul Samad Rabiu, Chairman of BUA Group, said: “We are excited to work with FAVA for the supply and installation of our newest 720tons/day pasta processing plant in Port Harcourt, to complement the existing five lines of the same capacity we have in the same location.

“This project will drive our total installed capacity for pasta processing to 1,440 tons per day by 2021 to meet increasing demand as well as take advantage of our prime location in Port Harcourt to efficiently supply key markets in Nigeria as well as the immediate regional markets.

“As the region’s population continues to rise, our continued investments across the agriculture and foods processing value chain will be crucial in helping to enhance food security in Nigeria and the region.

“Through this and other projects in the pipeline, we expect to become the leading player in the flour milling/pasta processing industry within a very short period,” Rabiu added.

In his comments, Luigi Fava, Chairman of FAVA, thanked BUA Group for the opportunity to work on this project, saying FAVA will bring its unrivalled expertise and wealth of experience to bear in delivering one of the best and most advanced pasta processing plants in the world.

He also commended BUA’s commitment to excellence and said FAVA is committed to delivering this project on schedule.

BUA Group is one of the leading players in the foods, manufacturing, mining and infrastructure space in Africa.

The Group’s investments in the agriculture value chain are spread across various industries from flour/pasta to sugar plantations and refining, rice, edible oils and providing technical assistance.

SOURCE:https://brandspurng.com/2020/10/12/bua-group-fava-partner-on-pasta-processing-plant/

Omoluabi Mortgage Bank Plc, a Mortgage carrier company in the Financial Services sector has changed its name to LivingTrust Mortgage Bank Plc.
The change of name was approved by the Bank’s shareholders at its Annual General Meeting held on July 2, 2020. The company made this known via a statement on the Nigerian Stock Exchange platform.

The Mortgage Bank said the name change followed the approval granted to it by the Central Bank of Nigeria and Corporate Affairs Commission.

In the same vein, the Bank also announced the launch of a new mobile app, named TrustMobile, and a new corporate website.

TrustMobile is the official mobile banking smartphone application from LivingTrust Mortgage Bank. It brings a whole new experience to the digital space and provides convenient access to both financial and non-financial transactions by LivingTrust account holders via their mobile phones/devices. The App is sleek and comes with sophisticated features, highly secure, impeccable user experience, easy and convenient to use.

The Bank’s financials:
Omoluabi Mortgage Bank Plc recorded a revenue decline of N231.3m for H1 2020, as against N247.1m recorded in H1 2019, representing a decline of 6.3%

Its interest and similar income for the first half of the year increased to N124.9m from N105m in H1 2019. This represents an increase of 18.95%.

Profit before tax stood at N41.4m, compared to the N62.6m recorded in the first half of 2019. This represents a decline of 33.7%.

Mortgage banks in the country have been hard hit by the COVID-19 pandemic, the half-year financial results of the companies listed on the Nigerian Stock of Exchange have shown.

Omoluabi Mortgage Bank was incorporated in 1993 as Osun Building Society Limited and later changed to Livingspring Savings and Loans Limited with Head Office in Osogbo, Osun State.

It was established to provide Mortgage banking services, Mortgage Financing, Real Estate Construction Financing and General Financial Services. The name was later changed to Omoluabi Mortgage Bank Plc and in 2014, listed its shares on the Alternative Securities Market (ASeM) of The Nigerian Stock Exchange (NSE); emerging the first company to do so.

In 2019, CFS (Cititrust Financial Services) Group Plc invested into the bank and became the majority shareholder, setting the stage for the bank to be more competitive with wider coverage in our service delivery.

The company is also accredited by the Federal Mortgage Bank of Nigeria (FMBN) for the National Housing Fund (NHF) scheme and a subscriber to the Nigerian Mortgage Refinance Company Plc. (NMRC).

SOURCE:https://brandspurng.com/2020/10/12/omoluabi-mortgage-bank-changes-name-to-livingtrust-mortgage-bank/

You have probably come across a picture of a face roller on your Instagram feed or seen one in use while watching a celebrity’s skincare routine. Face rolling is the act of using a face roller to massage your face. Face rollers vary in size, colour and material.
The Chinese have used face rollers for years but it has gained a lot of popularity in recent times. Face rollers look like mini paint rollers and are usually made from jade stones, rose quartz or other crystals. There are face rollers made from two stainless steel balls and some with little needles. Essentially, they are used to gently massage the face and add multiple benefits to your skin.

Furthermore, one of the key benefits of face rolling is lymphatic drainage. In our bodies, lymph nodes carry nutrients that help our immune systems battle viruses and bacteria. However, when these lymph nodes remain stagnant, our immune systems break down. Thus, face rolling helps to apply pressure and encourage movement and circulation within.

Face rollers also:

*Get rid of toxins

*Minimise pores

*Reduce fine lines and the appearance of wrinkles

*Ease muscle tension

*Decrease puffiness and inflammation

*Brighten complexion

Important tips on using face rollers

*When using a face roller, roll from the middle of your face to the sides. Then roll along your neck to your clavicle (collarbone). Remember: Upward and outward motions.

*Use your face roller after cleansing your face or after your skincare routine. You can also use it on a sheet mask. This can be a way to relax your face before sleeping.

*Using light to moderate pressure is enough. This is because the face roller is already adding its own pressure to your skin.

*For a more relaxing use, store your face roller in a cool environment. For example, your skincare mini-fridge.

*The smaller side of your face roller is for your eye and mouth areas while the bigger side is for the rest of your face.

Face rollers are a good addition to your skincare routine and provide you with at-home facial relaxation. If you cannot afford one right now, you can also use clean fingers to massage your face daily.

By: Oshoriame

SOURCE:https://brandspurng.com/2020/10/10/what-you-need-to-about-face-rollers/

The Food and Agriculture Organization of the United Nations (FAO) has welcomed a $3 million contribution from Germany and Sweden to help farmers in the world’s most vulnerable countries fight the impact of climate change and to build sustainability.

The countries’ contribution was finalized through the Technical Assistance Fund (TAF) of the NDC Partnership , a global coalition of countries and institutions committed to supporting climate action and sustainable development.

FAO Deputy Director-General, Maria Helena Semedo, thanked Germany and Sweden for their support saying it would help FAO directly support those countries hardest hit by climate change.

“This valuable contribution not only boosts FAO efforts to assist countries as they tackle climate impacts like severe weather events, rising sea levels and soil degradation, but also promotes resilient and sustainable growth,” said Semedo.

Climate change has been recognized by the United Nations as a threat to global food security and to the concerted efforts to eradicate poverty and achieve sustainable development.

The contribution from Germany and Sweden will be shared between 18 countries under the Climate Action Enhancement Package (CAEP) of the NDC Partnership which groups several donors. The resources, provided by the Federal Ministry of Economic Cooperation and Development of Germany (BMZ) and the Government of Sweden, will be used for diverse programmes including efforts to reduce greenhouse gas emissions and support for capacity development.

FAO further strengthened its collaboration with the NDC Partnership this year with a funding agreement aimed at fast-tracking contributions to agriculture, forestry and other sectors.

Assistance will be enhanced through FAO’s Hand-in-Hand Initiative , a country-led and country-owned programme designed to accelerate agricultural transformation and sustainable rural development in line with the UN Sustainable Development Goals.

Vulnerable countries, such as landlocked and least developed countries and small island developing states from Africa, Asia-Pacific, the Caribbean, Central Asia, Europe and Latin America will benefit from country contributions.

FAO has been an active member of the NDC partnership since 2016 and supports countries’ efforts to achieve their climate commitments under the Paris Agreement with the goal of maintaining the global temperature rise well below 1.5 Celsius.

The NDC Partnership has more than 100 members, including developed and developing countries, and is providing technical assistance and capacity building in over 50 countries.

SOURCE:https://brandspurng.com/2020/10/09/fao-welcomes-3m-contribution-from-germany-and-sweden-to-help-farmers-fight-the-impact-of-climate-change/

The Water Security Mega Reservoirs program, in Qatar, has entered the Guinness World Record as the Largest Drinking Water Storage Tank, ever built. Consolidated Contractors International Company (CCC) was responsible for building 5 potable water reservoirs /tanks of this major scheme developed by Qatar’s General Electricity & Water Corporation (Kahramaa).

The volume of each of the drinking water tanks exceeds 436,000 cubic meters (surpassing 96 million Imperial Gallons, 115 million US Gallons) thus making it the largest water tank of its kind in the world and setting a world record.

CCC’s project scope included the engineering, procurement, construction, testing and commissioning of five reinforced concrete potable water reservoirs or tanks with an area of 43,000m2 each, pumping stations and interconnecting networks of large diameter water pipelines at two distinct site locations.

For this breakthrough project, CCC had to excavate and backfill more than 3,000,000 m3 of earthworks quantities and pour around 750,000m3 of reinforced concrete. At the same time, CCC’s workforce which exceeded 7,500 (at peak), achieved nearly 73,000,000 overall work hours towards the completion of this world-class project which is expected to be fully operational by end of 2020.

The Water Security Mega Reservoirs program is an ambitious water project aiming to address the enormous water demand in Qatar following the country’s increasing growth, development and population. As a strategic project, it enhances Qatar’s water security and provides a high-quality service in accordance with the highest international and local standards. Also, it promotes the country’s sustainable advancement ensuring harmony between economic, social and environmental development.

SOURCE:https://brandspurng.com/2020/10/09/worlds-largest-water-storage-tank-built-by-ccc-earns-guinness-world-record-photos/

More Pictures...

The Ogun State Government has mobilised resources to carry out palliative works on the Ota/Sango/Oju Ore axis of the busy Ota-Idiroko expressway bordering the Benin Republic. The Federal road leading to the State has been in a state of disrepair giving the residents and travellers a hectic time.

The State Governor, Prince Dapo Abiodun disclosed this at the State House, Abuja, when he visited President Muhammadu Buhari.

The Governor said he would love to place as part of his achievements a permanent solution to the road in his compendium of achievements.

Gov Abiodun noted that his administration had approached the Federal Government to cede the road to the Ogun and Lagos Governments for full reconstruction.

The Governor acknowledged the hardship faced by the people as a result of the poor condition of the road, which serves as an entry point for individuals and businesses to the State.

He assured the people of the State of his administration’s commitment to immediately bringing a permanent solution to the road once the Federal Government approved it.
Meanwhile, as a stop-gap measure, the Ogun State Government, at the time of filing this report, had mobilized vehicles to the site.

“We have sighted trucks offloading and spreading materials meant to put the road in a usable condition”, Mr. Afeez Balogun, a resident said.

Also, in line with its promise to permanently address the perennial hardship faced by motorists and other road users on the Olomore-Brewery Road in Abeokuta, the State Capital, Government Monday, commenced drainage works at Olomore.

Engr Ade Akinsanya, the State Commissioner for Works and Infrastructure, said after the drainage had been fixed, asphalt would be laid on the failed portions of the road.

Akinsanya said drainage was being constructed to channel water off the road, thereby addressing the issue of flooding, which he said, had repeatedly damaged portions close to the Olomore and Brewery roundabouts.

“When the drainage works are completed, earthwork will commence immediately and will be followed by the laying of asphalt”, Engr. Akinsanya assured.

He reiterated the State government commitment to the development of road infrastructure across the three Senatorial Districts of the State, towards bringing the dividends of good governance to the people.

SOURCE:https://brandspurng.com/2020/10/09/ogun-state-begins-palliative-works-at-ota-idiroko-road-photos/

In its bid to enhance the telephony experience of its teeming subscribers, total telecommunications service provider, Globacom, has introduced Glo Berekete, a new tariff plan which offers more voice and data benefits to its new and existing customers.
The company explained at the launch of the product in Lagos on Tuesday that Berekete means ‘abundance’ in local patois, saying that this emphasizes the premium it places on its customers. Globacom also promised to continue to meet and exceed their expectations in product and service delivery.

The impressive launch of the product was graced by Globacom’s newly unveiled brand ambassadors, Michael Collins Ajereh, popularly called Don Jazzy; ace singer, Teniola Apata, fondly addressed as Teni The Entertainer; another popular musician, Simisola Kosoko (Simi); Africa’s highest scorer at the last Nations Cup and Manchester United attacker, Odion Ighalo and World Heavyweight Champion and holder of four boxing titles, Anthony Olaseni Joshua whose endorsement deal was recently extended by Globacom.

According to Globacom, under the new product, every new customer gets a welcome bonus of N600 upon successful activation of his or her line.

‘THE SUCCESSFUL ACTIVATION INCLUDES REGISTERING THE SIM, RECHARGING WITH A MINIMUM OF N100, AND MAKING THE FIRST CALL. N400 OUT OF THE BONUS CREDIT IS FOR CALLS TO ANY NETWORK, WHILE THE BALANCE N200 WILL BE CONVERTED TO 200MB OF DATA,’ GLO SAID.
Other benefits of the package include a massive 700 percent bonus on every recharge to call all networks and to browse the Internet. The network explained that, depending on the recharge denomination, subscribers could receive up to N20, 000 voice bonus and 5GB data bonus from a single recharge. “The voice and data bonuses can be used over seven days from the day the line is credited,” the network added.

Globacom also added that new customers will equally enjoy up to 100% extra data volumes on all data plan purchases between N50 and N10,000. The offer, Glo disclosed, is applicable for the first four months of joining the network.

The network further disclosed that new customers will get on the Berekete tariff by default while existing prepaid customers will subscribe by dialling *230# to instantly enjoy the 700 percent bonus on all recharges, though they will not be entitled to the one-off welcome bonus as well as the bonus on data plan purchases.

SOURCE:https://brandspurng.com/2020/10/07/700-bonus-for-subscribers-in-the-new-glo-berekete-tariff-plan/

The Nigerian equity market today (Wednesday) closed trading on a negative note, as investors on the Nigeria Custom street took profit on 31 medium and large capitalized stocks to end the 12 successive gaining streak. As a result, market breadth closed negatively, recording 31 losers as against 21 gainers.
In summary, the All-Share Index (ASI) decreased by 275.02 absolute points, representing a decline of 0.95% to close at 28,643.35 points. Similarly, the overall Market Capitalization size lost N143.75 billion, representing a decline of 0.95% to close at N14.97 trillion.

BERGER emerged top gainer (by percentage points) today, while UNILEVER tops the losers’ chart.

The downtrend was impacted by losses recorded in large and medium capitalized stocks, amongst which are; UNILEVER (-9.89%), CORNERST (-9.09%), ZENITH (-6.01%), GUINNESS (-5.66%), MANSARD (-4.74%), DANGSUGAR (-2.90%), UBA (-2.84%), GUARANTY (-1.59%), MTNN (-1.54%), UACN (-1.43%), and DANGCEM (-0.13%).


NASD OTC MARKET

The NASD OTC market performance indicators today (Wednesday) closed unchanged, as the Unlisted Securities Index (USI) and the Market Capitalization value closed at 726.93 points and N533.98 billion respectively.

However, traded Volume and Value rose significantly compared to yesterday’s position. The pair increased by 1,293.60% and 1,244.85% respectively to 732,338 units and N77.09 million in 8 deals.

SOURCE:https://brandspurng.com/2020/10/07/equity-market-halts-12-successive-gaining-streak-with-a-loss-of-n143-75-billion/

Oxford cabin biscuit was introduced in 1960 and is as old as Nigeria yet it just got rebranded ahead of Nigeria. The oxford biscuit just like Nigeria had its glorious days. Days where when you call Cabin biscuit, you are referring to oxford biscuit, the brand was as powerful as when Nigeria stood as the Giant of Africa, maybe as Oxford decided to evolve, Nigeria would one day.

Most people call Oxford biscuit, Cabin. Oxford was bearing the category name for biscuits of its kind. So what is Cabin? Cabin is the generic name for a kind of bread staple that is typically hard, flattened and mostly unsweetened.

Back in the days, Oxford Cabin biscuit came in a square box and was served on special occasions and during recreation activities. Who remembers those birthday parties that turned out well cause the Oxford cabin biscuit was there to compliment the firewood Jollof Rice made or can you remember the house fellowship and church gatherings where Oxford cabin biscuit was shared.

The Oxford Cabin biscuit was eaten in creative ways such as dipping the biscuit in tea, spreading butter over the biscuit and preparing milk and crushing the biscuits into it. This shows how the cabin biscuit is remembered when in need of a snack or light appetizer.

Over the years, the biscuit has undergone changes in size and probably quality but the increase in competition seems to have also contributed to the decline in the appearance of the biscuit in the marketplace. The brand has, however, recently rebranded with biscuits packaged in nylons probably to avoid the biscuit getting soft once opened and also this automatically provides a sharing formula for those who enjoy eating the biscuits with colleagues, friends and family members.

The repackaging is good but they have to act beyond that. They can sell the biscuits as one that holds memories and use the power of nostalgia to build the brand and appeal to people who hold their memories dear.

They can also sell by tapping into occasions and activities that people hold dear and position the brand as one needed on different occasions and moments that we share, selling this allows the brand comes to mind when certain events or occasions are being planned for. Another way to build their brand and increase sales is to create new usages of how the biscuit can be eaten while highlighting the older ways to eat and enjoy the Oxford cabin biscuit. Creating new product usage helps people have choices in how their cabin biscuits can be enjoyed.

Standing out from others is not an easy task for oxford cabin biscuits as there are other cabin biscuits but when others zig, Oxford Cabin biscuit needs to zag and let the name do the wonders for them, move beyond the noise of the competition and create a brand that stands the test of time.

SOURCE:https://brandspurng.com/2020/10/06/oxford-cabin-biscuit-still-a-gem-60-years-later/

An estimated 73.1 million people tuned in to watch the first debate of the 2020 presidential election on Tuesday, Sept. 29, 2020. The debate was hosted at Case Western Reserve University in Cleveland, Ohio, and featured Democratic Presidential Nominee Joe Biden and Republican Presidential Nominee, Donald Trump.

While coverage varied by network, 16 aired live coverage from approximately 9:00 p.m. ET to 11:00 p.m. ET.

The chart below highlights the sum of the average viewing audience for these networks. It’s important to note that out-of-home (OOH) viewing as well as connected TV (CTV) viewing are included in the 2020 total figures for this advisory. Contribution coming from CTVs can be as much as 11% for televised political events.

Nielsen Holdings plc is a global measurement and data analytics company that provides the most complete and trusted view available of consumers and markets worldwide. Nielsen is divided into two business units. Nielsen Global Media provides media and advertising industries with unbiased and reliable metrics that create a shared understanding of the industry required for markets to function.

Nielsen Global Connect provides consumer packaged goods manufacturers and retailers with accurate, actionable information and insights and a complete picture of the complex and changing marketplace that companies need to innovate and grow.

SOURCE:https://brandspurng.com/2020/10/06/first-presidential-debate-of-2020-draws-73-1-million-viewers/

Governor Darius Dickson Ishaku has described those opposed to the renaming of Dananacha town to Kwararafa were ignorant of the history of the Jukun people.
Governor Ishaku who spoke when a delegation of people from three newly created chiefdoms in the state including Kwararafa paid him a thank-you visit, said Dananacha has no place in the history of the Jukun people.

He said the level of ignorance displayed by those opposed to the name change is the reason he is unhappy with the decision to drop history subject from the nation’s school curriculum.

He explained that the present-day Kwararafa was the seat of the Kwararafa empire before it was moved to Wukari and noted that it will a great injustice to allow those not familiar with the history of the town to give it a name has no relationship with.

Governor Ishaku said Dananacha is the name of a particular type of yam seedlings brought to Kwararafa from Onitcha and wondered how that could become the name of a town.
He thanked the delegations from the three chiefdoms for coming to thank him and urged them to work for peace always.ome the name of a town that had played a significant role in the history of the Jukun people.
He assured them of his determination to ensure rapid development of the state but noted that such determination could be impaired by the crisis.

The three chiefdoms represented at the event are Kwararafa, Bika and Sansani.

SOURCE:https://brandspurng.com/2020/10/06/why-we-renamed-dananacha-town-gov-ishaku/

Institutions and individuals who invest money usually do so with the asset manager’s help, a company that manages their investments and makes a profit for both sides. These firms make well-timed investment decisions on behalf of their clients to grow their portfolio and finances.

According to data presented by StockApps, the world’s five largest asset management companies hold $22.5trn in assets, more than the GDP of the United States. With more than $7.3trn in assets under management or one-third of that value, BlackRock represents the leading asset manager globally.

Total Assets Under Management of BlackRock Surged 57% in Five Years
Asset management companies work with several investors, which enables them to reduce the risk, diversify their clients’ portfolios, and provide access to higher-value options with better capital appreciation prospects. In many cases, they make money by charging fees based on the number of assets they manage, although some companies charge flat fees. These firms usually also provide other services than asset management, which generates only a part of their revenue.

Largest asset management companies worldwide as of June 2020, by managed assets (in trillion U.S. dollars)

The world’s largest asset manager, BlackRock, has become one of the leading players on the financial market over the last 25 years. It serves individual investors, companies, governments, and foundations through 70 offices all around the world. BlackRock also tops the list of largest Exchange Traded Fund (ETF) providers in the United States and has played a huge role in advising the US government during the financial crisis.

In 2015, the total value of assets under BlackRock’s management amounted to $4.6trn, revealed the company’s annual report. During the last five years, this figure surged by 57% to $7.3trn in 2020. Besides leading in the value of managed assets, the New York-based financial giant also witnessed a steady market cap growth in 2020. In September, the total value of BlackRock stocks hit $83.6bn, a 22% jump year-over-year.

With $5.7trn in total assets under management, the Vanguard Group ranked as the second-largest asset manager globally. The US financial company, with 20 locations worldwide and 17,600 employees, is also the second-largest provider of exchange traded funds and the largest provider of mutual funds in the world.

Eight of the top 10 Asset Management Firms are US Companies
UBS Group represents the third-largest asset manager globally, with more than $3.5trn in assets under management. The Swiss financial corporation and the country’s largest bank announced a net profit of $1.23 billion for the second quarter of 2020, an 11% drop year-over-year mostly caused by the continued credit losses amid the coronavirus crisis.

However, higher trading activity continued to support the bank’s earnings between March and June. The Group’s quarterly earnings also revealed an operating income of $7.4bn, compared to $7.5bn a year ago. Statistics show the Swiss lender lost $1.6bn in market capitalization in 2020, with the total value of stocks falling from $45.6bn in December 2019 to over $44bn this month.

State Street Global Advisors and Fidelity Investments ranked as the fourth and fifth largest asset managers globally, with $3.05trn and $2.92trn in total assets under management.

Analyzed by geography, the US asset managers lead on the global list of the most successful companies, with eight of the top 10 asset management firms from the United States. Statistics also show the world’s largest banks like JP Morgan Chase, Goldman Sachs, and Bank of America were not among the top five asset managers in terms of managed assets.

SOURCE:https://brandspurng.com/2020/10/06/worlds-five-largest-asset-management-companies-hold-22-5trn-in-assets-more-than-us-gdp/

Maximum safety in all respects is the top priority for all Mercedes-Benz vehicles. For many decades, countless technical innovations and features have made them the safest cars in the world. Mercedes-Benz engineers have now applied this extensive know-how to the development of new child seats that feature innovative solutions such as optimized side impact protection or patented automatic child seat recognition, while at the same time offering maximum comfort for the little ones.

With these aspects in mind, Mercedes-Benz working in cooperation with the well-known manufacturer Britax Römer has developed child seats for different age categories that ensure precisely this optimum safety while offering outstanding seating comfort. As their design is coordinated with the interior design of the vehicles, they also meet the expectations of parents with respect to attractive appearance.

This is particularly apparent in the AMG version, which echoes the transverse quilting of the sporty seat upholstery and includes use of the standard AMG seat cover “DINAMICA microfibre”. Going beyond the legal requirements, all Mercedes-Benz child seats are tested at a 50 percent higher energy input, are approved according to ECE R44/04 and are “Made in Germany”.

The “BABY-SAFE plus II” rearward-facing child seat is the right choice for the age group from 0/0+ to approx. 15 months and bodyweight of up to 13 kg. Infants are safely and comfortably ensconced in the deep cradle with its high, softly padded side and shoulder bolsters. The head restraint is adjustable in seven stages so that it can be optimally adapted to the size of the child.

A seat backrest adjustment function is also integrated to allow a reclining position. The 5-point belt system with central longitudinal adjustment reliably holds the child’s body in place, and is very easy to attach from the front. The seat can be easily lifted from the vehicle using the ergonomically shaped carrying handle with convenient, one-hand operation. A sun and wind shade provides ideal protection in the open air. The seat also has a curved base for rocking or feeding the occupant.

The BABY-SAFE plus II seat is installed using the vehicle’s 3-point seat belt. Another important safety feature is the patented “D-SIP system”, which optimises side impact protection. The seat also has the Mercedes-Benz automatic child seat recognition system (AKSE).

This system uses a transponder to detect a child seat on the front passenger seat and automatically deactivates the front passenger airbag. This protects small children from injuries caused by a deploying airbag; the airbag is therefore deactivated for the duration the child seat is located in the passenger seat.

The belt tensioner and all other airbags on the front passenger side remain active to protect the child. An indicator lamp informs the driver that the front passenger seat belt has been deactivated, and it is automatically reactivated when the child seat is removed.

The softly padded, removable and washable seat cover is in an exclusive black and light grey Mercedes-Benz design. The Mercedes star is prominently positioned in the centre of the backrest and the high-quality embossing on the seat cushion creates an immediate association with the seats of Mercedes-Benz vehicles.

The front-facing “DUO plus” child seat is suitable for children weighing from 9 to 18 kg and aged between approx. 9 months and 3.5 years. This child seat, likewise, has the exclusive Mercedes-Benz design in black and light grey, with grey topstitching and high-quality embossing.

The DUO plus is standard equipped with an ISOFIX seat attachment and Top Tether. Safety is ensured by the 5-point belt system with central belt length adjustment and specially padded shoulder belts which are adjustable for height in seven variable stages. The three seat positions for sitting, resting and sleeping can be set using one hand. The head restraint is likewise adjustable in seven stages. A holder allowing the seat belts to be laid aside makes it easier for the child to enter and exit the vehicle.

The largest child seat in the Mercedes-Benz range is the “KIDFIX XP”, which is likewise in the exclusive Mercedes-Benz design and where the XP stands for “Extra Protection”. It ensures comfortable and safe travel for children weighing from approx. 3.5 to 36 kg and aged up to approx. 12 years. Highly energy-absorbing pads on the head restraint and in the shoulder area reduce impact loads by up to 20 percent. Deep, well‑padded side bolsters ensure the best possible side impact protection. The head restraint and belt system are height-adjustable, which ensures that the diagonal belt is optimally guided across the child’s shoulder.

Comfort is ensured by the adjustable seat positions, which can also be adapted during use to allow relaxed sitting and sleeping. The V-shaped backrest provides the best possible fit throughout the child’s development, and can be removed once the child reaches the prescribed weight of 22 kg. The KIDFIX XP seat is attached to the ISOFIX or i-Size anchorages in the vehicle, or using the 3-point seat belt. This child seat is also suitable for use in Mercedes-Benz vehicles equipped with belt bags.

The identically constructed “AMG KIDFIX XP” is a particularly sporty and dynamic design variant. Inspired by the seat design of the Mercedes-AMG GT 4-door Coupé, this child seat model follows the design lines and has a colour scheme that blends perfectly into the AMG Interior.

The seat cover is in the standard “DINAMICA microfibre” material for a sporty look and feel. Red topstitching and side bolsters emphasise the seat’s dynamic character. The backrest is accentuated by mesh inserts with red topstitching, echoing the unmistakable design of the AMG Performance seats. The AMG lettering embroidered into the head restraint confirms membership of the “World’s Fastest Family”.

SOURCE:https://brandspurng.com/2020/10/05/child-safety-with-a-star-mercedes-benz-child-car-seats-for-all-age-categories-combine-safety-with-comfort-and-design/

British Airways is increasing the number of destinations it serves with a larger timetable of flights for its customers.From today, long haul services will begin to Johannesburg, Cape Town, and Bahrain. Flights to winter sun favourite Grenada are scheduled to return on 14 October while flights to the Seychelles are scheduled to return on 16 October.

Lahore, a new addition to British Airways’ route network, begins on 12 October while new Heathrow services to the Maldives and Barbados launch on 16 and 17 October respectively.

Looking at short haul, Brussels, Dublin, Dusseldorf, Gothenburg, Milan Linate, Stuttgart, Seville and Valencia return today. Bilbao, Kefalonia and Luxembourg return tomorrow and Lanzarote returns on Saturday. Later in the month, services will resume to destinations including, Gran Canaria, Billund, Bordeaux, Basel, Brindisi, Cologne, Malta, Salzburg, Vienna and Zagreb.Flights start from just £24 each way to Europe and low prices can be found here. British Airways Holidays also has a series of tempting packages available, more details are at the end of the release.

Neil Chernoff, British Airways’ Director of Network and Alliances, said: “We’re glad to be returning to more destinations this month, connecting the UK with more and more countries around the world. With increases in both long and short haul services, there is a destination for anyone, and with our enhanced safety measures we hope this encourages people to start planning their next getaway.”

As always, the operation of any flights is subject to international restrictions and government approval.

Customers can travel in absolute confidence knowing that safety is at the heart of British Airways’ business. The airline has introduced a range of measures, which it requires customers and crew abide by. These include:

*checking-in online, downloading their boarding pass and where possible self-scanning their boarding passes at the departure gate where possible

*observing social distancing and using hand sanitisers that are placed throughout airports

*wearing a facemask at all times and bringing enough to replace them every four hours for longer flights

*asking customers not to travel if they think they have any symptoms of Covid-19

*cabin crew wearing PPE and a new food service, which reduces the number of interactions required with customers

*asking customers to ensure they have everything they need from their hand luggage before departure, and where possible, storing their carry-on bag under the seat in front of them

*providing customers with a personal protection pack including a sealable disposal bag, hand sanitising gel and an antibacterial wipe.

The airline is cleaning all key surfaces including seats, screens, seat buckles and tray tables after every flight and each aircraft is completely cleaned from nose to tail every day. The air on all British Airways flights is fully recycled once every two to three minutes through HEPA filters, which remove microscopic bacteria and virus clusters with over 99.9% efficiency, equivalent to hospital operating theatre standards.

SOURCE:https://brandspurng.com/2020/10/05/british-airways-increases-october-schedule-to-more-short-and-long-haul-destinations/

The Nigerian Communications Commission (NCC) has considered lifting the suspended Spectrum Trading Guidelines (STG), 2018, pending the conclusion of the ongoing review of the Guidelines.

The lifting of the suspension followed deliberations on the subject by the Board of NCC at its Special Board Meeting, which held on Wednesday, September 16, 2020.

The Meeting was preceded by the suspension of the Spectrum Trading Guidelines by the Board at its 96th Board Meeting held in May 18, 2020.

“The Board was satisfied that, given the state of the consultation, it was possible to lift the suspension of the Spectrum Trading Guidelines pending the conclusion of the review,” NCC said in a public notice signed by its Director, Public Affairs, Dr Ikechukwu Adinde.

“Accordingly, the Board resolved that the suspension of the Spectrum Trading Guidelines be lifted and that relevant stakeholders continue to operate the STG while a new/revised Spectrum Trading Guidelines is finalised in consultation with the industry,” the public notice added.

The Commission had, in a statement issued on May 27, 2020, announced the suspension of Spectrum Trading Guidelines 2018 for the Nigerian telecommunications industry and informed all licensed telecoms operators, prospective investors, industry stakeholders and the general public of the regulatory decision.

The Board of NCC had earlier taken the decision for Spectrum Trading in response to telecommunications global dynamics, as well as the efforts to optimally utilise and maximise the benefits of Spectrum as a scarce resource.

Spectrum is a limited resource, which, when inefficiently utilised, greatly limits broadband coverage and speed. The current Spectrum Trading Guidelines were developed in 2018 after industry-wide consultations and this instrument allows that the Spectrum resource be traded on the Secondary Market through Transfer, Sharing or Leasing (TSL) upon satisfying stipulated regulatory conditions.

According to the Commission, the Nigerian National Broadband Plan (NNBP), 2020-2025 launched by President Muhammadu Buhari in Abuja in March 2020, requires that these Guidelines be reviewed to ensure that unutilised Spectrum is fairly traded to facilitate rollout by other operators amongst others.

The Guidelines will also help to address the need for ubiquitous broadband deployment to accelerate penetration and access in line with the economic agenda of the Federal Government.

SOURCE:https://brandspurng.com/2020/10/05/ncc-lifts-suspension-on-spectrum-trading-guidelines/

We all saw what Leicester did to Manchester City. It was the highlight of the weekend. It was a 7 goals thriller. We are looking forward to more exciting football games this weekend. Let’s start with the La-Liga.

Barcelona vs Sevilla (Sunday, 19:00 GMT)

Surprisingly, Barcelona has so far started on a 100% winnings in La-Liga and yet to concede a goal. They have scored 7 goals in 2 games. That says a lot with the refreshed Barça. Are we going to attach this to the Messi effect?. Well, whatever they are doing, it’s working alright for them. Sevilla is also on a 100% winning record and looking dangerous day by day. The Europa Champions are one of the Best Spanish sides in the game of Football. Their record with Barça has not been impressive, considering the last time they won was January 2019. I expect goals from both sides and best of attacking end to end football.


Manchester United vs Tottenham Hotspur (Sunday, 16:30 GMT)

Manchester United should be strengthening their defence instead we heard the done deal with Van De Beek, although I think he is a great player we already have the midfield jam-packed with talents. I only expected Jadon Sancho but the transfer saga between Man United and Borussia Dortmund seems to be heading to a deadlock. Manchester United is weak at the back, thereby taking the toll of midfield and attack in terms of delivery and performance. Man Utd has struggled so far in the EPL.

Mou’s side, on the other hand, is picking up gradually with the in-form Harry Kane, Son, Lucas Moura and recently Dele Alli. Also, coming back to the limelight is Gareth Bale. I hope he delivers as expected.

The last time Spurs beat Man Utd in the EPL was back in August 2018. This game will boil down to the Team that makes the best use of their chances on time and seatback. Don’t miss the drama.



Napoli vs Juventus (Sunday, 18:45 GMT)

Serie-A number one faces Juve, who are sitting sixth on the Table. Napoli is yet to concede this season and has scored a total of 8 goals in two matches. This carries a lot of message to any Team looking forward to facing them. Juve on the other hand is undergoing a work in progress under their New Coach Pirlo. He has not done badly so far. But we all expect a thrilling game of football in this Match.

That’s all I have in stock for the games coming up this weekend.

Have a fun-filled weekend ahead.

SOURCE:https://brandspurng.com/2020/10/03/action-attractions-in-the-world-of-football-this-weekend/

Scientists from NemAfrica, the nematology unit at CGIAR-IITA, and the International Centre for Insect Physiology and Ecology (icipe) are currently assessing new potato varieties that are resistant to the potato cyst nematode (PCN) pest. These damaging pests significantly reduce yields and tuber sizes and consequently impact farmers’ income and food security in Kenya and the broader East African region. Researchers discovered them only recently as a new threat to potato in the area.

The Kenya Plant Health Inspectorate Service (KEPHIS) received eight new lines of potato in March 2020, subsequently certifying them for preliminary planting and testing under Kenyan agroecological conditions. The scientists sourced the planting materials from the renowned James Hutton Institute (JHI) in Scotland, from crosses made using parents with the H1 gene, which confers resistance to PCN, and the Phureja potato, which have highly desired taste and cooking qualities.

IITA Soil Health Scientist Danny Coyne, who has been leading efforts to assess these new lines, says that besides their resistance to PCN, they selected the specific sequences based on additional attributes vis à vis farmer growing preferences in Kenya.

“We identified early maturing lines that have a short dormancy, which are key characteristics of Shangi, the most popular variety currently being grown by farmers, as well as being high yielding compared to the current local varieties,” says Coyne.

Scientists developed the lines as part of a breeding program for use in the UK. The researchers selected them for trials in Kenya because of their low dormancy, which Kenyan farmers prefer. Prof. John Jones (JHI), a PCN expert, had recently visited IITA and icipe to help identify the PCN and recognized that these lines might be useful, as they resembled Shangi.

Innovate UK, a UK Government innovation agency, provided funding to facilitate the procurement, processing, and assessment of the new lines. IITA staff, in cooperation with KEPHIS, established contained field trials to test the performance of the new lines under varying levels of PCN infestation, alongside the local variety Shangi.

George Ngundo, a plant health inspector at KEPHIS, called the introduction of the new PCN resistant varieties a welcome development toward fighting the PCN scourge on potato farmers. He pointed out that the varieties will be the first of their kind in Kenya as the country does not have PCN resistant varieties within the seed system.

Jesse Kamutu, a potato seed and tuber producer from Kinangop in Nyandarua County, who assisted with the trials, echoed those sentiments. “Farmers in our area have been abandoning
potato farming for other crops,” he says. “This is due to decreasing yields and poor quality of tubers;” he continues, “we did not (even) know why until we were shown the PCN pest.” PCN is a minute microscopic worm that feeds on and damages the potato roots. PCN is among the most damaging pests of potato, and because they are new and unseen, farmers did not associate PCN with the decreasing potato yields.

The local Shangi variety, commonly planted by farmers across Kenya and some parts of East Africa, has no resistance against PCN and is being ravaged by the pest. Authorities estimate that the pest has reduced potato productivity in the region by more than 40%, digging deeper into farmers’ income. From the field trials, the new lines far outperformed Shangi in overall yield, within a maturity period desirable to the farmer.

IITA Postgraduate, Harrison Mburu, who is finalizing his master’s study at Jomo Kenyatta University of Agriculture and Technology (JKUAT), is directing the field trials and is very impressed with the outcome from the introductory planting in high altitude areas in Kenya. His master’s study has demonstrated the damage caused by PCN and the need for PCN-resistant varieties that farmers like. Resistant varieties that are similar to Shangi, therefore, would be a good start, he said.

In late August, the IITA team organized a visual and taste test with farmers in Munyaka and Gathara areas of Kinangop. Farmers judged the different tubers on display without knowing which were the new lines. Based on texture, shape, the taste of cooked potato as French fries/chips, mashed and boiled, and the amount of time it takes to cook, the farmers’ responses will help the team to select the most preferred lines to multiply and develop into planting varieties.

However, initial interest from these tasting events has already stimulated excitement, with some farmers showing a preference for the new lines and offering their farms to multiply the seeds at large scale.

According to Dr Solveig Haukeland, Nematologist (icipe), identifying a new variety that is resistant to PCN, early maturing, gives a good yield, and is highly regarded on the market will change the fortunes of potato farmers in the region. The team is currently assessing the lines for resistance to other diseases in Kenya.

SOURCE:https://brandspurng.com/2020/10/02/new-potato-varieties-introduced-to-combat-potato-cyst-nematode/

More Pictures...

President Nana Addo Dankwa Akufo-Addo of Ghana has commissioned the Kasapreko Water, Juice and Soft Drinks Factory, a company operating under government’s 1-District-1-Factory initiative.
At a ceremony at the premises of the company at Kwadaso, in the Ashanti Region, President Akufo-Addo noted that the establishment of the factory is a concrete manifestation that the new paradigm of economic development of insisting on value-addition industrial activities within a conducive and business-friendly environment, can make headway.

The 1-District-1-Factory initiative, the President explained, focuses on the promotion of commercially viable business ventures, through the establishment of an institutional framework that will attract private sector investments in rural economic activities.

Benefiting from this initiative, the government-assisted the beverage company to access US$20 million loans from Eximbank for the construction of the project.

It has also received a waiver of duties and taxes on machinery and raw materials, as well as a 5-year tax holiday.

The Kasapreko Tanoso factory will be serving the Ashanti, Bono, Ahafo, Northern, Savannah, North East, Upper East and Upper West Regions, as well as export its products to neighbouring countries such as Burkina Faso and Côte d’Ivoire.

The factory will have a capacity to produce about 35,000 bottles per hour of juices and non-alcoholic soft drinks, and 15,000 bottles per hour of water, working at full capacity.

According to President Akufo Addo, it will employ 300 people directly, and also generate some 3,000 indirect jobs through the supply chain.

President Akufo-Addo applauded the company for sourcing 90% of its packaging materials domestically, like bottles, caps and cartons locally.

The President further stressed that his government remains committed to supporting private sector operators, like Kasapreko, to become globally competitive.

This according to the President will enable them to take advantage of market integration frameworks such as the African Continental Free Trade Area (AfCFTA), whose Secretariat has been established and commissioned in Accra.

“I am particularly pleased that a successful and innovative company like Kasapreko is finding new opportunities under the 1D1F policy, and would like to assure them of Government’s unwavering support,” he added.

Darko Farms gets revamped with GH¢18 million
In other related news, the government has pumped GH¢18 million into Darko Farms Company Limited, an integrated poultry production company, in Atwima in the Ashanti Region, to revamp its operations.

The financial support, which was channelled through the Ghana EXIM Bank, followed the inclusion of the company in the One District-One Factory (1D1F) programme.

The company, which faced operational challenges due to financial constraints prior to the capital injection was due for additional GH¢4 million, to enable it to expand and produce at maximum capacity.

Following the financial support, it is presently running a hatchery, breeder, feed and chicken processing factories.

It is producing four million-day old chicks a day, which would increase to seven million when the newly purchased equipment is installed in December later this year.

The company is also producing 70 tonnes of feed a day and cultivating 1,500 acre-land of maize as a measure to reduce the cost of production.

To boost its production, it has engaged 200 out-growers and currently employs 1,000 people, which would rise to 2,000 when it operates at maximum capacity.

SOURCE:https://brandspurng.com/2020/10/01/president-of-ghana-commissions-kasapreko-water-juice-and-soft-drinks-factory-photos/

Nutricima’s dairy business will be integrated into FrieslandCampina WAMCO Nigeria PLC.

FrieslandCampina WAMCO has acquired the company’s production facility in Ikorodu, Lagos State and the brands Olympic, Coast and Nunu, a range of powdered, evaporated and ready to drink milk products. These brands have a good presence across the Nigerian dairy market.

FrieslandCampina WAMCO said the acquisition underlines its continued commitment to contributing to the development of the Nigerian dairy sector. The acquisition satisfies the need for additional production capacity for FrieslandCampina WAMCO to meet the growing demand for locally-produced evaporated and powdered milk by Nigerian consumers.

Ben Langat, managing director of FrieslandCampina WAMCO Nigeria, said, “It is our mission to bring affordable and attainable quality dairy products to all Nigerians and meet the growing demand. That’s why we are pleased with this acquisition.”​

Over the last few years, FrieslandCampina WAMCO has invested in capital expenditure, including a new warehouse and a learning academy. Recently, the company commissioned a plant for local production of Peak Yoghurt, which is directly linked to its dairy development program; an investment that has been at the center of Nigeria’s backward integration in local milk sourcing over the last decade with more than 9,000 local farmers spread across five states in Nigeria.

FrieslandCampina WAMCO will continue to expand its portfolio, particularly through low unit price packs and by strengthening its distribution reach in the market.

Having fulfilled all requirements including requisite shareholders and regulatory approvals, FrieslandCampina WAMCO has commenced operations at the newly-acquired plant.

SOURCE:https://brandspurng.com/2020/09/30/frieslandcampina-wamco-completes-purchase-of-nutricimas-dairy-business-2/

The World Instant Noodles Association has ranked Nigeria as the 11th country in the world with a strong demand for noodles. The first position is shared between China and Hong Kong with a total of 41,450 Million servings. Nigeria is 11th with 1,920 million servings.
The World Instant Noodles Association was created primarily to accumulate and share information about technical issues related to the quality development of instant noodles so that people can enjoy instant noodles with safety and trust. They also collect and distribute industry data such as the global demand for instant noodles.

According to the 2019 Expenditure pattern report, it was revealed that of the total household expenditure, 56.65% of the household expenditure in 2019 was spent on food, with a balance of about 43.35 spent on non-food items.

The report further states that Nigerians spent a whopping N22.7 trillion on food-related expendiures. People purchased more of carbohydrates with Starchy Roots, Tubers, and Plantain dominating with about N2.5 trillion. Rice a major staple food item cost Nigerians about N1.9 trillion while vegetables cost N1.7 trillion. It was also discovered that people spend about 4.5 trillion eating outside of their homes.

Nigerians are currently seeking alternatives to rice and other expensive food items in the market and one of the alternatives is noodles. The cost of other food items would therefore drive people to seek cheaper substitutes for the major foods available.

As we all know the ban on foreign rice has contributed to the spike in the price of rice and other alternative foods and to worsen the matter is the impact of COVID 19. The COVID period has caused an increase in transportation fares, unemployment, and companies paying half salaries. It has also impacted negatively the revenues of businesses and the financial power of the government of Nigeria. All these have contributed to low money circulation and an increase in the prices of services and commodities.

This probably has contributed to the increase in instant noodles consumption in Nigeria coupled with the constant and deliberate creation of mental images of noodles by the top brands and the use of large distribution networks.

SOURCE:https://brandspurng.com/2020/09/30/nigeria-is-now-the-11th-most-noodles-consuming-country-in-the-world/

A major step towards the realisation of the 4th Mainland Bridge was today, taken by the State Government with the first stakeholders meeting on Environmental and Social Impact Assessment for the construction and launch of the Bridge’s logo.

Speaking at the meeting, Governor Babajide Olusola Sanwo-Olu, who was represented by his Deputy, Dr. Kadri Obafemi Hamzat, described the event as a significant one in the joint effort to change the narrative of the socio-economic development of the State, through the provision of critical infrastructure for sustainable prosperity. The Governor emphasised that the proposed Fourth Mainland Bridge has been well integrated into the overall Lagos Master Plan in relation to transportation infrastructure, adding that the project allows for the first time, direct access from the large suburb of Ikorodu to the Island and the Lekki Free Trade Zone area.

While noting that the present administration has left no stone unturned in ensuring that the strategic project becomes a reality, Sanwo-Olu disclosed that the State government reactivated the construction of the bridge in October 2019 with the development of a six-step process that will lead to the selection of a suitable concessionaire in line with global best practices.

He emphasised that the stakeholder-engagement and consultation on Environmental and Social Impact Assessment was a precursor to the third step, which will involve issuing a “Request for Proposal” to the six consortia for the presentation of their respective financial proposals and methodologies for carrying out the project.

According to him, “The stakeholders’ meeting was organised to open the project to further inputs, comments, ideas and observations for incorporation into the ongoing social and environmental impact assessment. We hope the meeting would boost the acceptability and implementation ratings of the 4th Mainland Bridge in line with global best practices”.


In her welcome address, the Special Adviser to the Governor on Works and Infrastructure, Engr. Aramide Adeyoye stated that the meeting was another bold step by the present administration towards ensuring the buy-in of Lagosians into the government project and another fulfilment of the promise of Mr. Governor to adopt inclusiveness as a tool for governance.

She explained that as the primary coordinator for the project, the Ministry has arranged a number of meetings with the relevant Ministries, Departments and Agencies (MDAs) in the State to inform all stakeholders and foster progress on the project.

In his goodwill message, the Minister for Works and Housing and former Governor of the State, Mr. Babatunde Raji Fashola, represented by Dr. Adetunji Adeoye, commended Lagos for the construction of the Fourth Mainland Bridge, adding that the construction will create a lot of activities and job opportunities for residents.

He, therefore, assured the people and government of Lagos State of his unalloyed support towards the construction of the bridge.

The Minister of State for the Environment, represented by Mrs. Oluwatoyin Agbenla, described the Fourth Mainland Bridge as an endearing project to the citizens, which will be executed with the highest levels of environmental sustainability.

The Fourth Mainland Bridge is a 37.4km freeway subdivided into three sections namely Island Section, Lagoon Section and Mainland Section. It will commence from Abraham Adesanya Roundabout in Lekki through Ajah and Langbasa areas, crossing the Ado Badore Road before arriving at the Lagoon shoreline.

The road crosses the Lagoon via a 4.5km Lagoon Bridge landing between Bayeku and Ijede villages, passing through Ikorodu-Epe expressway to further link Isawo Road and from there to Lagos/Ibadan Expressway.

SOURCE:https://brandspurng.com/2020/09/29/lagos-ready-to-deliver-4th-mainland-bridge-sanwo-olu/

The acquisition provides FrieslandCampina WAMCO with additional production capacity to meet the growing demand for locally produced evaporated milk and powder milk. In addition, FrieslandCampina will the dairy business of Nutricima, makers of Olympic, Coast and Nunu to its product range.
Nutricima Limited was founded in Nigeria in 2005 and has, since then, earned itself consumer awareness within the dairy industry.

Over the last few years, FrieslandCampina WAMCO has invested significantly in capital expenditure, including a new warehouse and a world-class Learning Academy to build capabilities across functions and to drive talent development.

Recently, the company commissioned a state of the art plant for local production of Peak Yoghurt, which is directly linked to its highly successful dairy development programme; a major investment that has been at the centre of Nigeria’s backward integration in local milk sourcing over the last decade with +9000 local farmers spread across 5 States in Nigeria.

This acquisition underlines FrieslandCampina WAMCO’s continued commitment to contributing to the development of the Nigerian dairy sector.

President of FrieslandCampina Consumer Dairy, Roel van Neerbos, said: “FrieslandCampina WAMCO has been a key player in Nigeria since 1954. With this acquisition, we demonstrate our strong commitment to Nigeria and its dairy market”.

Managing Director of FrieslandCampina WAMCO Nigeria, Mr. Ben Langat, said: “It is our mission to bring affordable and attainable quality dairy products to all Nigerians and meet the growing demand. That’s why we are pleased with this acquisition”.

The DDP is a major investment that has been at the centre of Nigeria’s backward integration in local milk sourcing over the last decade, with over 9,000 local farmers spread across five states in Nigeria.

Langat assured that FrieslandCampina WAMCO will continue to expand its portfolio, particularly through low unit price packs and by strengthening its distribution reach in the market.

He said having fulfilled all requirements including requisite shareholders and regulatory approvals, FrieslandCampina WAMCO has commenced operations at the newly acquired plant.

SOURCE:https://brandspurng.com/2020/09/29/frieslandcampina-wamco-completes-purchase-of-nutricimas-dairy-business/

The National Broadcasting Commission has pledged to give necessary support to TStv Africa as the indigenous digital satellite TV service begins full operation with pay-per-view model on October 1.

The Acting Director-General of NBC, Prof Armstrong Idachaba, made the promise on Monday in Abuja when the management team of TStv paid him an official visit to inform him of the company‘s readiness to commence full operation across the country.

The News Agency of Nigeria reports that TStv Africa is a wholly-owned Nigerian innovative multi-channel outfit, which had promised to operate the pay-per-view model for the benefit of Nigerians.
Idachaba said: “We promise on our side that we will continue to support you.
“At this time, I think that the major issue confronting the PayTv sector is the area of giving Nigerians option of deregulating purchasing capacity in terms of pay as you go concept.

“We believe this will give you the visibility if you remain committed to the idea.

“We welcome that option and wish that it serves as stimulant and as progressive index for other PayTv operators to adopt.

“Some of them have come up with a lot of excuses why pay per view is difficult and why it is not doable.

“We want you to be the galvaniser to prove the naysayers wrong that this is doable in the interest of Nigerians.

“Once you begin and you make a success of it through increased subscription base, we are sure that others will be drawn into it as it happened in the telecommunication sector.”

Idachaba said the NBC is committed to promoting local participation in the nation’s broadcasting industry, especially in the pay-TV sector, to create jobs and provide diversity for Nigerians.

He acknowledged the challenges TStv had faced over the years and encouraged the company to remain focused.

“We are aware that it has been very challenging for you.
“All over the world dominant players will always want to remain in dominant position.

“Those who want to survive will also have to take the courage to do so.”

The Acting Director-General, however, admonished the firm to refrain from any activity that would give Nigeria a bad name.

SOURCE:https://brandspurng.com/2020/09/29/nbc-pledges-support-as-tstv-rolls-out-pay-per-view-digital-tv/

The African Continental Free Trade Area (AfCFTA) is one major solution for the expansion of non-oil exports from Nigeria to foreign lands, the Federal Government stated on Sunday.

Special Assistant to the President on Public Matters, who doubles as Secretary of the National Action Committee on AfCFTA, Francis Anatogu, described the continental free trade area as a vehicle for Nigeria’s quest for economic diversification.

He disclosed this at the first strategic stakeholders’ sensitisation seminar of the committee on the AfCFTA.

The NAC under the leadership of the Minister of Industry, Trade and Investment, Richard Adebayo, recently brought together private and public sector stakeholders for knowledge sharing in preparation for the operationalisation of the AfCFTA scheduled for January 2021.

In a statement issued by Anatogu in Abuja, he said, “The stakeholders are an integral part of the AfCFTA drive that would ensure a smooth, seamless and beneficial implementation of the agreement.

“For as long as we depend on crude oil revenue, our economic prosperity will depend on oil prices which sadly continued to fall in recent times. The solution is to expand non-oil exports and AfCFTA gives us the opportunity to do that.”

In her presentation titled ‘Effects of AfCFTA on the Nigerian Economy in Relation to Foreign Direct Investment and Domestic Direct Investment’, the Executive Secretary, Nigerian Investment Promotion Council, Yewande Sadiku, told participants why Nigeria was more ready for the operationalisation of the AfCFTA than most African countries.

She said, “Many Nigerian companies, particularly in the services sector, have long developed the capacity to serve the rest of Africa.

“While large domestic market makes Nigeria the ideal gateway economy, Nigeria’s manufacturing value addition is more than seven times the average of the top 20 economies in Africa.”

On the implications of AfCFTA to Nigeria’s financial sector, the Director, Monetary Policy Department, Central Bank of Nigeria, Hassan Mahmud, said there were about 700 banks in Africa but they only accounted for about five per cent of the global banking network.

“Continental integration in the banking system is key to strengthen the sector as a whole in Africa,” he stated.

SOURCE:https://brandspurng.com/2020/09/28/afcfta-to-expand-nigeria-non-oil-export/

The power generation statistics for 2019 reflected that a total of 33,448,633 MWh of energy was generated by power stations.
Privatized GenCos generated 19,692,683 MWh, IPP GenCos generated 7,798,253 MWh while the NIPP GenCos generated 5,957,697MWh. However, Egbin recorded the highest energy generation with 3,786,313MWh accounting for 11.32% while Alaoji NIPP recorded the lowest with 209,453MWh accounting for 0.63% of total energy generated in 2019.

Total Energy sent out by GenCos stood in 2019 at 32,799,114MWh. Privatized GenCos sent out 19,233,151 MWh, IPP GenCos sent out 7,648,700 MWh while the NIPP GenCos sent out 5,917,262 MWh. Energy consumed by the Eleven DisCos in 2019 stood at 28,026,503 MWh, Ikeja DisCo recorded the highest energy consumption with 4,087,971 MWh accounting for 14.95% while Yola Disco recorded the lowest with 1,122,534MWh accounting for 4% of total energy consumed in 2019.

Cross Border Electricity Transactions showed that Benin and the Niger Republic were supplied a total of 1,278,344MWh and 1,048,807MWh of electricity respectively.

SOURCE:https://brandspurng.com/2020/09/28/total-energy-sent-out-by-gencos-stood-in-2019-at-32799114mwh-nbs/