₦airaland Forum

Naira gained further at the official market, trading at N1,262.85 to a dollar on Wednesday. Data from the official trading platform of the FMDQ revealed that the Naira gained N15.73.


This represents a 1.23 percent appreciation when compared to the previous day’s trading on Tuesday, exchanging at N1,278.58 to a dollar.

However, the total turnover increased to $166.18 million on Wednesday, up from $111.18 million recorded on Tuesday.



Meanwhile, at the Investor’s and Exporters’ (I&E) window, the Naira traded between N1,296 and N1,210 against the dollar.



SOURCE:https://brandspurng.com/2024/04/04/naira-appreciates-at-official-market-by-1-23/

The Hon. Minister of Power, Adebayo Adelabu, has affirmed Federal Government’s commitment to gradually offset the debt owed Nigeria’s largest power generation company, Egbin Power, starting next month April, while noting that constraints of gas supply and foreign exchange are also being tackled.


This was made known during the Minister’s visit to the power Plant as part of his strategic measures to strengthen understanding among stakeholders, offer robust support to players, and address the challenges in the sector, with the overall aim of boosting power supply in Nigeria.

While affirming the commitment, the Hon. Minister said: “The Federal Government is prioritising paying down on the outstanding debt and I have assured the Board and Management of Egbin Power that, effective April we will start paying as a form of encouragement to continue to have them in operations.”


Regarding the constraints encountered by power generation companies in accessing Foreign Exchange, the Minister explained that crucial steps are being taken to prioritize allocation of Forex to the power generation companies.

“Forex sourcing has been a major constraint to effective maintenance of the facility. I have seen what we have on ground here, and the critical need for spares and tools for continuous maintenance. We will liaise with the Central Bank of Nigeria (CBN) to prioritize Foreign Exchange allocation to the power sector.


“This will ensure the companies are able to ramp up capacity in terms of output. It is not just peculiar to Egbin Power Plant, it is across all the power generating Plants. They need Forex for them to be able to maintain the turbines, replace tools and spares. This has been a major issue. I am going to takes steps to ensure I liaise with the CBN to see how they can prioritize Forex allocation to the power generating companies,” the Minister said.

While speaking on challenges of gas supply, he explained that engagements were held with the Ministry of Petroleum Resources and gas suppliers as part of measures to guarantee payment of debts and resolution of the gas constraints.


“Gas shortage has been an impediment to almost all our gas power plants. And we already had conversation with the Honourable Minister of Petroleum Resources. We are also meeting with the gas suppliers to plead with them and have an understanding that the FG is prepared to start paying down on the debt that we owe the gas supply companies.

“We need to make some cash injection in terms of payments, we want to give them some guaranteed debt instruments in terms of promissory note. And we are looking at allowing them access to Nigerian gas wells. So that this will be used to defray the outstanding debt of the gas suppliers over time,” he explained.

The Minister commended the Board and Management team of Egbin Power for its robust investment to improve, sustain and maintain the Plant’s infrastructure and facility, while contributing largely to the sector despite the challenges.

While stressing on the impact of the debt and gas constraints on the Plant, the Chief Executive Officer (CEO). Egbin Power, Mokhtar Bounour said: “One of the major challenges we are facing is gas constraint, which is not allowing us to run the full capacity of the Plant. It requires a lot of investment efforts to keep the units running and safe.

“The other issue is the accumulated debt which the Minister discussed with us. On our part we are adequately ensuring the maintenance, availability of the Plant and its efficiency. We are investing a lot to get these units to run optimally. This requires millions of dollars in investment,” Bounour explained.

He commended the Minister for his commitment to address the challenges. “We highlighted the challenges we are facing, and the Federal Government, through the Minister of Power, has promised to start solving them gradually so we can start seeing improvements in the near future. We hope that the liquidity challenge will be solved soon as the Minister has promised,” Bounour added.

SOURCE:https://brandspurng.com/2024/04/01/egbin-power-receives-fg-assurance-on-debt-settlement-improved-gas-supply/

AXA Mansard, a member of AXA, a global leader in Insurance and Asset Management has launched a new life insurance product, Endowment Plan, which will pay policyholders 100 per cent of their sum insured at the end of the tenure if the policyholder is still alive.


Also, the underwriter assured of payment of any unfortunate demise of the policyholder before the end of the tenure, the company will pay the beneficiary of the policy the sum insured.

The company says this innovative product is our response to the need of the insuring public rather than just pushing our existing products. The product seeks to demonstrate that life insurance is not just about death benefits, which the policyholder wouldn’t witness, but about living a quality life when alive.

According to Kunle Ahmed, the CEO of AXA Mansard Insurance, this new endowment policy is another demonstration of the company’s mission of moving from being a payer to a partner. He said that the company believes that as a progressive partner, it should address the different needs of the segments it serves and that this product addresses the needs of customers who want to enjoy the benefits of their life insurance coverage while still alive.


“This product is three in one. It offers the benefits of saving, investing, and life insurance coverage in one product for the same price. With this product, our customers can save towards their cherished dreams.
While they save, they also get investment benefits because, at the end of the tenure, the sum insured is paid back 100 per cent with some interest. And if death or disabilities arise in the cause of this savings, the named beneficiary of the policyholder also gets the sum insured paid out. So there is no need to worry about having an investment but no life insurance or having life insurance they cannot benefit from until death or permanent disabilities arise. Our Endowment plans are here to bridge that gap”.
“With this product, you can save towards a future goal such as personal or children’s education, real estate acquisitions, or any other dream goal. And if life happens before the end of your preferred tenure, the beneficiary of your policy gets paid the full sum insured. And if you’re alive at the end of your tenure, you’re paid your sum insured with some interest, and you can go ahead to realize your dream. That is what a partner does, and that’s why we have developed this product,” Ahmed explained.

Also speaking about the product, Abisola Nwoboshi, Head of Life Business, AXA Mansard, said the products are designed with customers in mind, noting that customers can choose a plan that is most convenient and suitable for their needs and financial comfort.

She said, “There are two variants of this product that give our customers a lot of flexibility. Depending on the investment plan, a customer can choose the regular endowment plan, where she can get paid the full sum assured at the end of the tenure, or opt for the anticipated endowment option, where the customer can cash out 20%, 30%, and 50% respectively over the tenure of the policy. So, it all depends on what your investment goals are. And in case of death or permanent disabilities, the named beneficiary of the policy holder gets the full sum assured”.

She added that the product also offers contribution flexibility, explaining that customers can choose different options, ranging from a one-off contribution to a monthly or yearly contribution.

AXA Mansard is registered as a composite company with the National Insurance Commission of Nigeria (NAICOM). The company offers life and non-life insurance products and services to individuals and institutions across Nigeria. It also provides asset/investment management services and health insurance solutions through its two subsidiaries – AXA Mansard Investments Limited and AXA Mansard Health Limited. The parent company was listed on the Nigeria Stock Exchange in November 2009.

SOURCE:https://brandspurng.com/2024/04/02/axa-mansard-new-life-insurance-policy-endowment-plan-to-pay-surviving-policyholders-100-money-back/

Zenith Bank Plc has emerged as the Best Bank in Nigeria in the Global Finance Best Banks Awards 2024, winning the award for the fourth time since 2019. The Bank was among other banks from 36 countries in Africa recognised as the prestigious Global Finance announced its 31st Annual Best Bank Awards Winners.


The editors of Global Finance made the selections after extensive consultations with corporate financial executives, bankers and banking consultants, and analysts worldwide. Factors considered in selecting the top banks ranged from the quantitative objective to the informed subjective. Objective criteria considered included: growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products. Subjective criteria included the opinions of equity analysts, credit rating analysts, banking consultants and others involved in the industry.


Commenting on the award, the outgoing Group Managing Director/Chief Executive of Zenith Bank, Dr. Ebenezer Onyeagwu said: “This award serves as a powerful affirmation of our resilience and tenacity despite headwinds and a very challenging macroeconomic environment. Indeed, it is a testament to our status as the leading financial institution in Nigeria, dedicated unwaveringly to delivering exceptional value to our stakeholders”. He expressed profound gratitude to the founder and chairman, Jim Ovia, CFR, for his exceptional vision and foundational role in establishing a resilient and enduring financial institution. He also lauded the board for their astute insights and exemplary leadership, the staff for their steadfast commitment and unwavering dedication, and the customers for their staunch loyalty to the Zenith brand.



Joseph D. Giarraputo, publisher and editorial director of Global Finance, said: “Banking has reached another watershed moment with the debut of generative artificial intelligence, which promises to rewrite the industry playbook,” He added that: “In this ever-changing environment, the Best Bank Awards recognize the financial institutions that offer the broadest range of services, long-term reliability, and technological innovation.”


Global Finance’s “Best Banks Awards” are recognised amongst the world’s most influential banking/finance and corporate professionals as the most coveted and credible awards in the banking industry, with winners chosen in 150 countries and territories across Africa, AsiaPacific, the Caribbean, Central America, Central & Eastern Europe, Latin America, the Middle East, North America and Western Europe.


Founded in 1987, Global Finance regularly selects the top performers among banks and other financial services providers, and the awards have become a trusted standard of excellence for the global financial community.

Zenith Bank’s track record of excellent performance has earned the brand numerous awards, including being recognised as the Best Bank for Digital Solutions in Nigeria in the Euromoney Awards 2023, being listed in the World Finance Top 100 Global Companies in 2023; being recognised as the Number One Bank in Nigeria by Tier-1 Capital, for the 14th consecutive year, in the 2023 Top 1000 World Banks Ranking published by The Banker Magazine; Best Commercial Bank, Nigeria, for three consecutive years from 2021 to 2023, in the World Finance Banking Awards; Best Corporate Governance Bank, Nigeria in the World Finance Corporate Governance Awards 2022 and 2023; Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards 2020 and 2022; Best Bank in Nigeria, for three consecutive years from 2020 to 2022, in the Global Finance World’s Best Banks Awards; Best in Corporate Governance’ Financial Services’ Africa, for four successive years from 2020 to 2023, by the Ethical Boardroom; Most Sustainable Bank, Nigeria in the International Banker 2023 Banking Awards; Best Commercial Bank, Nigeria and Best Innovation in Retail Banking, Nigeria in the International Banker 2022 Banking Awards.



Also, the bank emerged as the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 2020 and 2021; Bank of the Year 2023 and Retail Bank of the Year for three consecutive years from 2020 to 2022, at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards. Similarly, Zenith Bank was named Bank of the Decade (People’s Choice) at the ThisDay Awards 2020, Bank of the Year 2021 by Champion Newspaper, Bank of the Year 2022 by New Telegraph Newspaper, and Most Responsible Organisation in Africa 2021 by SERAS Awards.

SOURCE:https://brandspurng.com/2024/04/03/zenith-bank-named-nigerias-best-bank-for-the-fourth-year-in-the-last-five-at-global-finance-awards-2024/

Building upon the success of its launch, Terra Gold Cube has unveiled its new “One Cube, Endless Possibilities” campaign to redefine the way consumers approach seasoning and flavouring their dishes. With a focus on quality, versatility, value for money, and natural flavours, the campaign invites consumers to unlock the limitless potential of Terra Gold Cube, one delicious meal at a time.


Through this campaign, the brand invites all consumers to embark on a voyage of taste, emotion, and discovery— providing a superior taste to their meals without going through the pain of choosing varieties of cubes, thereby unlocking a world of endless possibilities.

Terra Gold has a rich consistent taste that everyone craves for. Be it hearty vegetable stew, delicious soup, or the aromatic richness of Jollof rice, Terra Gold amplifies the natural flavours of your ingredients, accentuating their essence with finesse and precision.



As an experienced homemaker and fervent advocate for the art of flavorful cooking, Jane Benson shares her thoughts on the Terra Gold Cube’s campaign, “One Cube, Endless Possibilities.”


“As someone who spends a considerable amount of time in the kitchen, I have encountered my fair share of challenges when it comes to using seasoning cubes. The pain points have been the lack of versatility, quality, and of course, the value for money”.


“However, everything changed when I discovered Terra Gold Cube. I was finally able to use one cube for all types of meals. I was blown away by the complement in taste it added to my various dishes. Hence, I would recommend that you go for Gold for all your delicious meals. So, choose wisely, choose Gold.” she stated.

Probal Bhattacharya, Chief Marketing Officer, TGI Group, expressed confidence about Terra Gold having the potential to be the gold standard in seasoning cubes, that redefines the art of seasoning, one delicious dish at a time.

“With Terra Gold Cube, we are not just offering a seasoning option; we want to assure consumers that there is now no need to worry about making the right choice of seasoning cubes. Terra Gold is the definitive gold standard in seasoning cubes for providing that special taste across various Nigerian dishes and cuisines. As we look ahead, I am eager to see how Terra Gold becomes an integral part of kitchens around the country, inspiring individuals to experiment, innovate, and savour the endless possibilities that each Gold cube brings.” He said.

SOURCE:https://brandspurng.com/2024/04/03/terra-gold-cube-unveils-one-cube-endless-possibilities-campaign/

When it comes to hotel development across Africa in 2024, just five words tell the story, “Egypt and the Big 5”. In this context, “the Big 5” does not refer to Africa’s major wildlife attractions, (lion, leopard, rhinoceros, elephant and buffalo) but to the global hotel chains – Accor, Hilton, IHG, Marriott International and Radisson Hotel Group.


This year’s African Hotel Chain Development Pipeline report, widely acknowledged as the industry’s most authoritative source, documenting and analysing the number of hotels being planned and built across the continent, reports a market share of 28% for Egypt and 71% for the Big 5 global chains.

The survey, conducted by Lagos-based W Hospitality Group, in association with the Africa Hospitality Investment Forum (AHIF), is based on responses from 47 global and regional (African) hotel chains, reporting on a pipeline of hotel development activity totalling around 92,000 rooms in 524 hotels, in 41 of Africa’s 54 countries.



Significant trends to emerge in the past year include strong growth, over 9%, in both North and sub-Saharan Africa, an increase in very large hotels (the average size of the largest 10 hotels is 770 rooms, up from 723 rooms in 2023) and a rapid growth in resorts, up by 32% on 2023. In this respect, Zanzibar has performed particularly strongly. There, the pipeline has grown from seven resorts with 983 rooms in 2023 to 14 resorts and 2,048 rooms in 2024, a sure sign of confidence in these beautiful Indian Ocean islands.

The extent to which Egypt dominates the African hotel development pipeline each year, with almost 26,250 rooms in 109 hotels, is quite remarkable. The country’s pipeline, up by 19 hotels and about 5,200 rooms in 2023, is larger than the next four countries put together. It has well over three times the number of rooms as second-placed Nigeria, which has 7,622 rooms in 50 hotels. Third-placed Morocco has 7,169 rooms in 52 hotels and Ethiopia, in fourth place, has 5,128 rooms spread across 31 properties.


There has been an extremely strong increase in the number of resort projects in the pipeline, growing from 24% of the total in 2023 to 30% in 2024. In addition, around half of the rooms in hotels and resorts that opened last year were in resorts. Both Boa Vista (Cape Verde) and Sharm El Sheikh (Egypt) score highly because of the very large average size of the resorts there. The largest hotel in the entire pipeline is a Rixos resort being planned in Sharm El Sheikh, with over 1,800 rooms.

The Big 5 global chains – Marriott International, Hilton, Accor, Radisson Hotel Group and IHG Hotels & Resorts – account for 66% of hotels and 71% of rooms in the entire African pipeline.

Marriott International, the world’s largest hotel chain, remains in the lead for the third consecutive year, in a seemingly unassailable position as number one, with almost twice the number of pipeline hotels and rooms as second placed Hilton, and it has the largest number of rooms added in the year.

Looking back at previous years, there used to be a neck and neck race between Accor and Marriott International but, for the second year running, Accor’s pipeline has actually decreased, from a high of about 20,250 rooms in 2022 to 13,375 rooms today. Executives say that they are focused on having a “clean and achievable pipeline, rather than numbers for numbers sake”.

Accor’s quote highlights a key issue in tracking hotel development in Africa, which is differentiating between hotel projects that are proposed from those that are under construction and from those that have been completed. Typically, the length of time between signing and opening is between four and five years. However, the report identifies 35 projects in the pipeline that are 10 or more years old, including one hotel that was signed 16 years ago.

When it comes to hotels under construction, Marriott International leads the way, with 138 hotels (15,011 rooms) currently being built. It is followed by Hilton (72 hotels, 5,955 rooms), Radisson Hotel Group (35 hotels, 5,748 rooms) and Accor (70 hotels, 3,346 rooms). TUI Hotels & Resorts has charged into the rankings in fifth place with 12 hotels (2,208 rooms) under construction.

As well as looking at deals, which may or may not materialise, W Hospitality Group also looked at who was opening hotels in Africa in 2023, and where. Of the total 29 chain hotels and resorts that opened in Africa in 2023, the split was 10 in North Africa and 19 in sub-Saharan Africa. Of those 19 openings, 11 were in East Africa, including six new hotels and resorts in Tanzania, which had the most openings of any African country. It is clear evidence of the attractiveness of both the mainland and Zanzibar to investors and operators.

Accor came out top of the list for openings last year, and it also tops the number of hotels and rooms opened over the past five years (2019-2023), with 34 hotels opening, comprising around 5,500 rooms.

In terms of “actualisation”, 2023 was an exceptionally slow year. However, that is likely to be offset by a strong 2024, during which the top 10 chains expect to open 139 hotels with 19,122 rooms.


Trevor Ward, Managing Director, W Hospitality Group, said: “Our report contains very positive data, with the pipeline expanding by more than 9 per cent in 2023. This is the largest increase since 2018 and, according to data produced by CoStar/STR, is one of the highest increases globally, surpassed only by the Americas. We look not just at signed deals and their status, but also at the historical actualisation of these deals. This year, we’ve placed greater emphasis than we have in the past on the actualisation, because if the deals don’t become operating businesses, generating profits for the owners and paying fees to the hotel chains, no one’s objectives are being met, are they?”

“We’re looking forward to some 139 hotels and resorts opening in Africa in 2024, with expectations of a far greater actualisation rate than in recent years, as Africa strives to achieve its fair share of the global hotel industry”.

When one considers existing hotels, as well as hotels in the development pipeline, the continent’s current king of the jungle is Accor, with 165 hotels, containing 29,041 rooms, open and trading. Marriott International is in second place, 25,451 rooms in 143 hotels, Hilton is third, 12,525 rooms in 47 hotels and Radisson Hotel Group is close behind with 12,179 rooms in 61 properties. However, if Marriott International delivers all the rooms in its pipeline, it is on course to overtake Accor and become pack leader, with 51,816 rooms in operation.

Matthew Weihs, Managing Director of The Bench, which organises the Africa Hospitality Investment Forum (AHIF), concluded: “The report reveals some very positive trends, including strong growth in new hotel projects, the emergence of high-quality white label hotel operators and governments successfully attracting investment into their tourism industries. All this bodes well for deal-making discussions at AHIF.”

An update to the pipeline development survey, along with in-depth insights, will be presented by Trevor Ward at AHIF, which takes place at the Mövenpick Hotel, Windhoek, Namibia, from 25th – 27th June 2024.

The event is the most influential gathering of hospitality executives in Africa, connecting business leaders and fuelling investment in tourism projects, infrastructure, and hotel development across the continent.

SOURCE:https://brandspurng.com/2024/03/27/egypt-and-the-big-5-dominate-hotel-development-in-africa/

tappi, the end-to-end digital commerce SaaS solution tailored for Africa’s micro, small and medium-sized businesses (MSMEs), has today announced its expansion into Côte d’Ivoire. Building on its rapidly growing operations in Kenya and Nigeria, tappi’s latest country launch will feature an extension of its existing partnership with telecom giant, MTN, marking a significant step forward for the startup’s mission to drive the digitalisation of MSMEs across Africa.




For as low as $8/month, Côte d’Ivoire’s MSMEs will receive access to tappi’s SaaS and enterprise-grade tools, empowering them to generate SEO-optimised websites in less than 2 minutes, distribute online ads and secure access to a host of additional digital services. Through tappi’s partnership with MTN Côte D’Ivoire, the telecom’s 17 million customers in the country will also be able to access these services via integrated data bundles, bolstering their capacity to get online, build trust and reach new customers.


Discussing the expansion, Kenfield Griffith, tappi CEO and co-founder said, “With a strong GDP growth rate of 6.9%, Côte d’Ivoire not only represents the ideal market to empower MSMEs primed to digitise and significantly expand their customer base, but will act as a critical gateway to access Francophone Africa’s 150 Million consumers as we identify future growth opportunities across the region.”




“Alongside MTN, we are proud to kick start this mission with one of our top partners who has been integral to tappi since day one and is equally committed to the goal of digitising MSMEs across Africa. With over 17 million customers in Côte d’Ivoire alone, and a robust mobile money network, we firmly believe MTN holds the perfect reach, scale and infrastructure to seamlessly get technology into the hands of MSMEs ready to grow their businesses, and we look forward to driving ahead with the next phase of our partnership.”




Since its inception in 2022, tappi has been on a rapid growth journey capturing verified reviews on over $3M consumer transactions and engaging with over 150K consumers.

According to UNECA, SMEs form over 98% of total businesses in Côte d’Ivoire but despite their importance to the economy, many businesses still face major difficulties building a trusted online presence. This is primarily due to current tools being too complex, the requirements for an international credit card or the listing of websites in places where trust is difficult to gauge, establishing significant hurdles to access and convert new customers.



Djibril Ouattara, CEO, MTN Côte d’Ivoire, adds, ‘MTN strives to lead the way in delivering a bold new digital world, guided by our Ambition 2025 strategy. We believe in providing the benefits of a modern connected life to all, with a focus on supporting MSMEs as the future drivers of digital business and economic growth. Through connectivity, communication, collaboration, and cloud solutions, we aim to empower businesses for sustainable growth.’



Through its powerful end-to-end digital commerce stack, tappi facilitates a seamless online business profile creation process through an intuitive chat experience. Leveraging payments, messaging and AI, the platform is rapidly emerging as the SEO backbone to boost revenue for MSMEs across the continent, helping businesses gain visibility, consolidate payments with verified reviews to build online trust and pay for online Ads with mobile airtime.

SOURCE:https://brandspurng.com/2024/03/23/tappis-collaboration-with-mtn-spurs-expansion-in-cote-divoire/

The National Shippers Association of Nigeria (NASAN) has expressed concerns over the federal government’s inconsistent exchange rate policies, noting that it is making the cost of doing business unbearable especially in the export market.


The president General, NASAN, Innocent Akuvue, stated this on the sidelines of a press briefing to formally announce the association’s activities in the country.

According to him, the inconsistent nature of the exchange rate is having a negative impact on businesses even as the Nigerian Customs Service (NCS) is yet to implement the Central Bank of Nigeria’s (CBN’s) directive on Form M.



He also lamented over the unavailability of forex for shippers to fund their operations.


In his words, “Most of the issues that shippers currently face are in the ports, inconsistency of exchange rate. the CBN issued a directive that the exchange rate as at the time you opened your Form M and as you know a Form M is a contract and once the Form M is opened you have an agreement, but at the point of arrival, a new exchange rate surfaces, although the CBN has given that directive, but unfortunately, the customs are not implementing it yet.”


He added, “We are worried that after customs releases a container, the same customs would still impound the container after it leaves the port, so our worry is that why should customs release a container and still hold it down on the road, no matter what wrong a shipment would have had, we want to assume that before the shipment is released, all wrongs would have been corrected and once that container has been checked, it should be as free as it exited till it gets to its point of destination.

He also called for stricter sanctions to be meted by any customs officials who impound a container after it has been cleared.

Also speaking, the national secretary, NASAN, Mrs. Ijeoma Ezeasor, said the inconsistent exchange rate for duties makes it impossible for shippers to forecast while also lamenting the several losses that have been incurred as a result of the inconsistent exchange rates.

“It does not allow for stability and planning, because businesses require for some time to plan and forecast, so it has been difficult for us to forecast and we have made several losses due to inconsistencies in government policies, so it has been hurting shippers both importers and exporters,” she stated.

On the 41 prohibited items, she said it should not have stood as it has triggered a lot of imbalance on manufacturers’ production costs.

SOURCE:https://brandspurng.com/2024/03/25/nasan-express-concerns-over-inconsistent-exchange-rate/

The organiser of the Industry Summit, an annual gathering for professionals and experts in brand marketing, finance, sustainability, and entertainment, has announced the speakers for the fifth edition of the summit in Lagos.


The event themed: Sustainable Marketing for Growth would feature the marketing director of Nigerian Breweries Plc, Mr. Emmanuel Oriakhi as keynote speaker while the head of unit, sustainability at Access Bank, Mrs. Omobolanle Victor-Laniyan and manager brand, strategy & communications at Stanbic IBTC, Ms. Rita Akao would feature as guest speakers.

The summit, which is scheduled to hold on Friday, May 3rd, 2024 at the Marcelina’s Place Ikeja GRA, Lagos would feature some exhilarating panel sessions with some of the contemporary professionals in the Nigerian brand and marketing industry.


The panelists include; Ms. Chioma Mbanugo, Head of Marketing PZWILMAR, Mr. Abiodun Coker, Team Member Media, UBA, Mrs. Mabel Adeteye, Head, Brand & Marketing Communications, Wema Bank PLC, Mr. Kevin Olumese, Marketing Communications Specialist, and Mr. Adeola Kayode, Head, Brands & Creative Services, 9mobile Nigeria.

Others who have confirmed participation are Ms. Aisha Anaekwe, Head, Brands & Comms, Coronation Group, Mrs. Victoria N’dee Uwadoka, Public Relations, Public Affairs & Sustainability Lead, Nestle Nigeria Plc, Mr. Samson Adeoye, Public Relations Manager, Airtel Nigeria, Mrs. Oluwatosin Odiagbe, Marketing Manager, Simba Solar and Ms. Arinola Shobande, Head of Marketing, Showmax.


While Oriakhi would be speaking to the topic, ““New Age Marketing – Catalyzing Transformation Through Value Chain Innovation, Technology, Analytics & Sustainability”, Victor-Laniyan and Akao would present papers on the topics; “Aligning organizational objectives with sustainable marketing for the good of the people, society and business, and “Reimagining Sustainable Growth Through Green Marketing” respectively.

In the press statement signed by the Publisher of The Industry Newspaper/Convener of The Industry Summit/Awards (TIES), Mr. Goddie Ofose, he said that “The 5th edition of the Industry Summit is focusing on sustainable marketing, which is a purpose-driven practice that works to orientate businesses, brands and society towards a sustainable future, influencing appropriate awareness, aspiration, adoption and action across economic and sociocultural systems by taking necessary accountability for its impacts and opportunities.”


“In today’s ever-evolving world, debating whether to incorporate sustainability into business strategy is no longer an option. Considering a values-driven approach when developing business strategies can be vital to long-term success” he said.

Therefore, we have carefully selected these professionals and experts to deliberate on the subject matter, highlight challenges and proffer solutions where private and public sectors could take lessons from and improve upon whatever they have been doing,’ Ofose added.


The Industry Summit/Awards is a brainchild of The Industry Newspaper Limited, publishers of The Industry Newspaper (theindustry.ng) and 789marketing.ng.

The summit is designed to bring together industry leaders across the continent in all sectors in the quest to rev up conversations that will move the Nigeria business, economy and communication industry forward.

SOURCE:https://brandspurng.com/2024/03/25/organiser-unveils-speakers-panelists-for-2024-industry-summit/

Infinix is excited to announce the official launch of the NOTE 40 Series in Nigeria.


This lineup promises to revolutionize the mobile experience with its state-of-the-art technology and unbeatable offers.

The series, which includes the NOTE 40, NOTE 40 Pro, NOTE 40 Pro 5G, and the NOTE 40 Pro+ 5G, marks a new era of smartphone excellence in Nigeria.





The NOTE 40 Series introduces cutting-edge All-Round FastCharge 2.0 technology, with the NOTE 40 Pro featuring a 70W Multi-Speed FastCharge that can reach 50% charge in just 20 minutes.


The series also includes magnetic and wireless charging capabilities, ensuring users stay powered at every point.






The batteries, boasting high-energy density, ensure up to 1600 charging cycles, offering durability and an extended lifespan.

Infinix’s NOTE 40 Series features new innovations like the self-developed chip that supports multi-function charging modes and Wireless MagCharge.

The vibrant 3D curved 120Hz AMOLED display, combined with a formidable 108MP super-zoom camera system with OIS support, redefines visual and photographic fidelity.

Further enriched by AI enhancements, including Active Halo AI lighting and premium sound by JBL, the NOTE 40 Series stands out as the epitome of performance and efficiency.

Both models sport a robust 5000mAh battery with PD agreement support, allowing for versatile charging solutions.

The Pro models boast a 3D Corning Gorilla Glass for an immersive viewing experience, while the NOTE 40 features an ultra-narrow bezel flat screen design, providing superior visual comfort.



First Sales – A Gift of Tech Elegance

Infinix is rewarding customers of the NOTE 40 series in Nigeria with an exclusive “First Sales” offer from March 19th to March 31st, 2024.

Customers who purchase the NOTE 40 or NOTE 40 Pro from accredited retail outlets nationwide will receive a complimentary First Sales gift box, which includes a JBL speaker and TWS earbuds.

Infinix NOTE 40 and Showmax

That’s not all, in an exclusive partnership with Showmax, every purchase of a NOTE 40 series smartphone comes with a 3-month subscription plan free of charge.

Whether you’re a sports fanatic ready to catch all the EPL action or a movie lover eager to dive into a sea of entertainment, the NOTE 40 series has got you covered.

Pricing that Defies Expectations

The Infinix NOTE 40 is priced at NGN 327,900 and comes in Obsidian Black and Titan Gold colour variants, while the NOTE 40 Pro is available for NGN 396,900 in Titan Gold and Vintage Green.

Embrace a New Era of Technology

“We are not just launching a new product, we are introducing a new standard for living in the digital age,” said Oluwayemisi Ode, Integrated Marketing Communications & PR Manager at Infinix.

“With its 3D Curved Design, the All-Round FastCharge 2.0 technology powered by the self-developed Cheetah X1 chip, and innovative MagCharge accessory kit, the Note 40 series is designed to meet the needs of today’s mobile users.

“All of these features combined with our exclusive partnership with Showmax, equips our customers with not just a great device, but also an enriched lifestyle.”

With the NOTE 40 Series, Infinix is inviting Nigerians to step into a new era of technology that offers a perfect blend of speed, efficiency, and design.

To keep up with more details on the Infinix NOTE 40 series and other exciting innovations and offers from Infinix Nigeria, follow on Instagram, Facebook, X, and TikTok at @infinixnigeria.


SOURCE:https://brandspurng.com/2024/03/22/infinix-nigeria-unveils-note-40-series-redefines-charging-technology/

In today’s connected world, it is a matter of when rather than if you will experience someone trying to hack you. With cybercriminals becoming more sophisticated in their attempts, it is possible that at some point or another you may interact with a scammer or click on a phishing link.


As prevention is always better than cure, Kaspersky (www.Kaspersky.co.za) experts share several tips on what steps you should take to avoid being hacked when you notice potentially suspicious activity.

1. Do not give any more information



This is the most important rule. If something feels ‘off’ about a website you are led to after clicking a link, asking for your name, email, phone number, or bank card information, close it immediately. If you are talking to someone on the phone, and the conversation seems even just a little strange, hang up immediately and do not answer if they call back. And if you are communicating through video conferencing tools, end the meeting and close the application.


2. Disconnect your device from the Internet


This is essential if you have installed any applications at someone’s request, or someone’s done something on your computer using remote control tools. If this has happened, chances are that malware has been installed on your computer or smartphone. To prevent cybercriminals from controlling your device remotely, disconnect the device from the Internet by turning off Wi-Fi and your mobile data or unplug the ethernet cable of your computer. See Step 6 below for further actions.

3. Put yourself in the hacker’s shoes

If you already have visited a suspicious website or talked on the phone, try to remember any information you entered on the site or shared with the caller. Address and name? Phone number? Bank card number? Password or security code received in SMS? If you only shared your name, address, and phone number, no further action is required. Unfortunately, the situation is worse if you have shared more sensitive information, such as passwords, photos of personal documents, or banking information. If this has happened, follow Steps 4 and 5 as outlined below.

4. Change your passwords

You must regularly change the passwords to all your accounts. However, when you have interacted with a hacker, it is vital to quickly log in to the service in question and change the password immediately. If you disconnected your device from the Internet, use another device rather than plugging in the potentially infected one. Do not hesitate to ask your friends or co-workers for help if you do not have another device. When accessing any services, enter the site address manually or open it through your browser bookmarks rather than clicking on links in emails.

5. Contact your bank or service provider

If you provided bank card numbers or other financial information, contact the bank immediately. You can usually block cards through a dedicated hotline, as well as through a mobile app and your personal account on the website. For other types of data, such as bank account details, consult with specialists from the bank or online service about protective measures to take.

6. Check your device

If you followed our advice and disconnected your device (computer or smartphone) from the Internet due to potential infection, thoroughly check it for malware or potentially unsafe software before reconnecting to the network. If you already have a comprehensive protection system installed, such as Kaspersky Premium (https://apo-opa.co/41mfoei), ensure that the protection databases have been updated recently and all protection and scanning technologies are enabled, and then run the deepest scan possible, applying settings that can detect not only malware but also potentially dangerous software such as remote control tools.

If your device does not have protection or if the protection databases are outdated, then use another device to download protection from the manufacturer’s official website. You can then transfer the installation files across using a USB flash drive or SD card.

7. Check for any suspicious activity

After taking all the steps above, make sure that the hackers have not managed to do anything harmful with the potentially compromised accounts. If these are online stores or bank accounts, check your recent purchases. If you see any purchases that you did not make, try to cancel them by contacting the online store or your bank.

On social networks, check recent posts, new friends, photo album content, and so on. In messaging apps, check your recent chats to make sure no fraudulent messages were sent from your account.

Beyond these tips, below are a few precautionary measures you can take in advance:

Protect your smartphone from potential theft or loss (https://apo-opa.co/4a0nH32).
Use unique passwords and two-factor authentication for every account. A password manager (https://apo-opa.co/3VpyH5I) with a built-in authenticator will help you create new unique passwords and store both the passwords and the authentication tokens.
Install a comprehensive security system (https://apo-opa.co/41mfoei) on all your computers and smartphones. This will prevent most phishing and fraud attempts as well as unauthorised access and hijacking of your computer, neutralise viruses and malware, and repair your PC if it has already been infected.

SOURCE:https://brandspurng.com/2024/03/19/7-tips-from-kaspersky-on-what-to-do-if-someone-tries-to-hack-you/

Binance, the cryptocurrency behemoth, is grappling with a high-stakes decision in Nigeria that could either safeguard its reputation for privacy or jeopardize its foothold in one of the world’s fastest-growing crypto markets.


The crux of the matter lies in the Nigerian government’s arrest of two Binance officials during business negotiations and the subsequent demand for user data on the platform’s top 100 customers in the country.

Nigeria’s crypto market value grew over 60% in 2022 to hit $185 million (Source: Chainalysis 2023 Crypto Adoption Index). With a young, tech-savvy population driving adoption, Nigeria is projected to become one of the top 10 crypto markets globally by 2025 (Source: KuCoin Crypto Prospects Decoded Report 2022).

Since its entry in 2019, Binance has amassed over 2.4 million users in Nigeria as of January 2023 (Source: Binance blog). With Nigeria’s monthly crypto trade volume averaging $400 million in 2022 (Source: NDIC Crypto Asset Tracker, Q4 2022), Binance’s potential revenue loss from being shut out could exceed $48 million annually, based on average trading fees.


However, complying with the Nigerian government’s demand risks severe reputation damage according to Ikechukwu Keremah, a blockchain regulatory expert:


“If Binance sets the precedent of compromising user data, there could be a massive loss of trust and an exodus of users globally. Decentralized finance hinges on privacy,” Keremah stated in an interview with Bitcoin.com.

According to CoinGecko, Binance’s global monthly trading volume averaged $859 billion in Q1 2023, translating to potential revenue of $859 million per quarter (based on 0.1% trading fees). A significant user exodus could cost Binance billions annually.

“Binance is in a challenging position trying to balance regulatory compliance with its core privacy principles. Its response could shape how privacy is viewed in the crypto space,” says Anndy Lian, Chairman of BigONE Exchange in commentary for CoinDesk.

As the standoff intensifies, Binance’s next move is eagerly anticipated, as it could shape future crypto regulation and the company’s dominance in the rapidly evolving digital asset landscape.

SOURCE:https://brandspurng.com/2024/03/19/binance-faces-multibillion-dollar-dilemma-in-nigerias-crypto-hotbed/

Oduwacoin is leading the way in Africa’s digital currency scene by introducing its very own blockchain. It’s the first cryptocurrency across the continent to have its secure system for transactions.


With Oduwacoin, people can send money to each other quickly and with zero fees, making it easier to handle finances. This is a big deal because it gives everyone, no matter where they are, more control over their money and opens up new opportunities for financial growth.

Oduwacoin’s native blockchain is paving the way for a digital revolution in Africa, making financial transactions simpler, safer, and more accessible for everyone.

The Pan-African Dream: A Unified Currency
Africa is a land of vibrant diversity, yet it also faces challenges in economic integration. Traditional currencies can be restrictive, limiting cross-border trade and hindering regional financial inclusion. This is where Oduwacoin steps in -as a pan-African solution.


Unlike many cryptocurrencies tied to specific countries, Oduwacoin is a universally accepted digital currency across the continent.


The Power of a Native Blockchain

Unlike some cryptocurrencies reliant on existing blockchains like Ethereum, Oduwacoin boasts its own native blockchain infrastructure. This ‘Oduwa Blockchain Solutions’ empowers Oduwacoin to be more than just a digital currency; it’s a platform for building decentralized applications (dApps) tailored to Africa’s specific needs. Imagine a future where secure and transparent supply chain management, micro-lending platforms, and innovative cross-border payment systems are built on the Oduwa Blockchain, fostering financial inclusion and economic growth across African nations.

A Gateway to Financial Inclusion
Financial inclusion remains a major hurdle for many Africans. Traditional banking systems often have high barriers to entry and limited reach in rural areas. Oduwacoin, with its decentralized nature and mobile-first approach, presents a compelling alternative. Owning a smartphone and an internet connection allows anyone to participate in the Oduwacoin ecosystem, facilitating secure and affordable transactions beyond the reach of traditional banking infrastructure.

Empowering Businesses and Consumers
Oduwacoin offers numerous benefits for both businesses and consumers. Businesses can leverage its low transaction fees and fast settlement times for cross-border trade, boosting regional commerce. Consumers can enjoy faster, cheaper international money transfers and the ability to hold a secure, borderless asset.

Building a Sustainable Future
Oduwacoin’s creator, Bright Enabulele prioritizes sustainability. The blockchain utilizes a Proof-of-Stake consensus mechanism, which is significantly less energy-intensive compared to the Proof-of-Work model employed by Bitcoin. This aligns with Africa’s growing focus on clean energy solutions and responsible development.

The Power of an Independent Blockchain
Oduwacoin’s independent blockchain offers unique advantages for its users, putting them in control of their financial experience, see how:

Self-Reliance: Unlike tokens that rely on established blockchains like Ethereum, Oduwacoin has its own infrastructure. This means transactions are processed on the Oduwa blockchain itself, free from dependence on external factors or potential slowdowns on other networks.

Tailored Features: An independent blockchain allows Oduwacoin to implement features specifically designed for its goals. This could include faster transaction times, lower fees, or functionalities suited for the African financial landscape.

Community Governance: With its blockchain, Oduwacoin users have a greater say in the future of the currency. The community can potentially vote on upgrades or changes to the network, fostering a sense of ownership and shared purpose.

Security and Transparency: An independent blockchain allows for a more transparent view of transactions. Users can potentially verify transactions directly on the Oduwa blockchain, enhancing trust and security within the network.

Potential for Growth: An independent blockchain opens doors for future development. Oduwacoin can integrate new features and functionalities specific to its vision, without limitations imposed by external platforms.

Upshot
Oduwacoin is more than just a cryptocurrency; it’s a symbol of Africa’s embrace of technological innovation and a potential catalyst for economic empowerment. By giving room for financial inclusion, facilitating cross-border trade, and promoting sustainable development, Oduwacoin is redefining the way Africans interact with the global financial landscape.

SOURCE:https://brandspurng.com/2024/03/16/did-you-know-oduwacoin-is-the-first-pan-african-crypto-to-have-its-native-blockchain/

On a beautiful Saturday morning, I find myself strolling down the aisle of the grocery store in my neighborhood and as I approach the section dedicated to cooking oils, I am greeted by an array of options before me. The shelves are lined with bottles of various shapes and sizes, each boasting its own enticing combination of benefits.


With each bottle vying for my attention, I begin to scrutinize the labels, seeking out the perfect mix of taste and health. I weigh the benefits of different oils in my mind, considering their composition of fats and nutritional value.

As a journalist with over 10 years of reporting health-related topics, curiosity took the better part of me, as the quest for heart-healthy cooking has never been more prevalent. I will approach the story to provide valuable information to consumers about making healthier choices in cooking oil, with insights from a cardiologist guiding the narrative.

I reached out again to Dr Monisola Adanijo, a renowned cardiologist, who emphasized the significance of checking labels when purchasing cooking oil. “Consumers should pay close attention to the composition of fats in cooking oils. This can have a significant impact on heart health.” Advises Dr. Adanijo


According to her, one crucial aspect consumers should consider is the ratio of polyunsaturated fatty acids (PUFAs) to saturated fatty acids. PUFAs, such as omega-3 and omega-6 fatty acids, are beneficial for heart health. Therefore, consumers should look for oils with higher levels of PUFAs.


She notes that consumers should be wary of the saturated fat content listed on cooking oil labels, as excessive consumption of saturated fats can increase cholesterol levels and the risk of heart disease. “Choosing oils with lower levels of saturated fats is advisable,” warns Dr. Adanijo

As I approached the end of the aisle, my gaze fell upon the label of Golden Terra Soya Oil—a standout option for health-conscious consumers. With an impressive content of 5 times more polyunsaturated fatty acids (PUFAs) compared to many other cooking oils, Golden Terra Soya Oil presents itself as a favourable choice for those prioritizing heart health in their culinary pursuit

With the assurance of both expert opinion and market trends, I felt confident in my decision to prioritize health without compromising on taste. Golden Terra Soya Oil not only met my culinary needs but also aligned with my commitment to a healthier lifestyle.

Golden Terra Soya Oil also boasts of 3 times less saturated fatty acids compared to traditional cooking oils. This makes it an ideal option for individuals seeking to reduce their saturated fat intake and ensure their cardiovascular well-being.

Armed with this knowledge, I felt reassured in my decision to opt for Golden Terra Soya Oil. But it wasn’t just the cardiologist’s opinions that solidified my choice, it was also the acknowledgment from leaders and subject matter experts in the cooking oil industry. They repeatedly emphasized the growing trend of Nigerian consumers becoming increasingly careful and health-conscious in their choice of cooking oils. Consumers now prioritize their heart health by carefully considering the composition of cooking oil before making a purchase.

Probal Bhattacharya, Chief Marketing Officer, TGI Group, in his remark, gave a resounding affirmation of Golden Terra Oil’s alignment with evolving consumer preferences.

“As the landscape of consumer behaviour continues to shift towards prioritizing health and wellness, our commitment to providing cooking oils, that not only excel in taste but also prioritize heart health, reflects our dedication to meeting the needs of our consumers. We strive to exceed the expectations of our consumers by offering products that resonate with their values and aspirations. As we continue to innovate and adapt to emerging trends, we remain committed to quality, health, and consumer satisfaction with products like Golden Terra Soya Oil” he said.

SOURCE:https://brandspurng.com/2024/03/12/cardiologist-sheds-light-on-making-healthier-choices-in-cooking-oil/

Ecobank Transnational Incorporated has signed a USD 250 million senior unsecured bridge-to-bond Loan Facility with The African Export-Import Bank (Afreximbank) and Africa Finance Corporation (AFC) acting as Global Coordinators and Initial Mandated Lead Arranger.

This loan facility aims to support trade finance and the general corporate purposes of the group. Mashreqbank psc. joined the transaction as a mandated lead arranger. The facility has a tenor of twelve months, with a six-month extension option at the lenders’ discretion.

The bridge-to-bond loan also comprises an accordion feature that enables an increase in the total commitments under this facility within a given timeframe.

Ayo Adepoju, Ecobank’s Group CFO, commented, “We are very excited about this new facility, which provides additional liquidity buffers for the bank. The firm’s continued ability to demonstrate market support and, in particular, diversify its funding sources under challenging economic conditions reflects credibility that has been purposefully built in the market and across the African continent over many years.”

While commending the commitment of the teams that worked on the facility, he recognised the continued efforts to build strong partnerships, as well as the leadership provided by the Lead Arrangers.

SOURCE:https://brandspurng.com/2024/03/12/ecobank-signs-250m-bridge-to-bond-loan-with-afreximbank-and-afc/

In commemoration of the 2024 International Women’s Day, leading on-demand mobility company in Africa, Bolt has partnered with Whispa, a telemedicine company that allows individuals to chat with real life doctors, to provide free doctor consultations to women in Nigeria for a period of four weeks starting from March 8, 2024.


Under this partnership, both female riders and drivers will be able to get free medical assistance, discounts for follow up tests as recommended by the doctor and ride credit for individuals who need to visit the testing and healthcare centers.

This year’s theme for International Women’s Day is ‘Inspire Inclusion’. Understanding this, Bolt is helping women and girls make informed decisions about their health by providing free or discounted healthcare access to not less than 4000 women in Nigeria.

Commenting on the initiative, Yayaha Mohammed, Country Manager, Bolt said “March is women’s month and while we have typically run our Women in Tech Internship, this year we want to focus on access to women’s health services. We would like to use International Women’s Month to raise awareness of several health conditions that affect women and help women in our community get access to essential services that can prove to be life-saving. At Bolt, we care about providing meaningful access beyond transporting people from pick up to destination but access to healthcare and a great life for our community.”

Morenike Fajemisin, CEO & Founder at Whispa Health said: “At Whispa, we are committed to leveraging technology to provide convenient, affordable and confidential access to Health information, products and services, particularly those tailored for women. In Nigeria and all over the world, women are disproportionately affected by certain health conditions like cervical cancer, endometriosis & STIs and that women’s health concerns are often dismissed or treated with levity, leading to a higher rate of under-diagnosed conditions in women compared to men”.

“Through this partnership with Bolt and in celebration of Women’s Health Month, we aim to not only fulfill our core vision of improving access to quality and shame-free healthcare ‘on the go’, but to also shine a well-needed spotlight on common Women’s Health conditions with a view to providing real solutions”, she said.


‘Ride for Women’s Health’ campaign is for women riders and drivers but also for everyone else. Interested participants can visit Bolt’s social media platforms and blog for more information on how to register.


SOURCE:https://brandspurng.com/2024/03/08/bolt-partners-with-whispa-to-provide-free-medical-access-for-female-riders-and-drivers-in-nigeria/

The World Bank is partnering with Smart Africa, to scale up the Smart Africa Digital Academy (SADA) initiative from a national to a regional focus as part of the Western Africa Regional Digital Integration Program (WARDIP), in a bid to advance regional integration of digital markets through a USD 20 million grant for 5 years.


This scale up will leverage on the existing SADA implementation and AReg4DT program to establish a new generation of policymakers and regulators across Africa, who are individually knowledgeable on how to harness the potential of green and inclusive digital transformation through new approaches to policy and regulation, and who collectively contribute to the establishment of a Single Digital Market in Africa.

With this aim, the scale-up will reach 30,000 unique policymakers and decision makers from all countries in Africa, with a targeted participation level of females at 40%.

Given the World Bank’s commitment to digital transformation in Africa, the grant will significantly contribute to regional integration and rapid adoption of the Single Digital Market for Africa.


Launched by the Smart Africa Alliance from a seed money of about thirty thousand US dollars which saw the first implementation of an online training for policy and decision makers in August 2020, the Smart Africa Digital Academy (SADA) has made significant strides in advancing digital skills and fostering a dynamic learning ecosystem across Africa with initial grant support from Norwegian Agency for Development Cooperation (NORAD), the German Federal Ministry for Corporation and Development and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH (BMZ /GIZ).


SADA aims to bridge the digital skills gap in African countries, improving employability and meeting the emerging talent needs of African citizens. Since its inception, SADA has trained over 7000 beneficiaries across 35 countries in Africa on various digital transformation topics.

Commenting on the partnership with the World Bank, the CEO of Smart Africa, Mr. Lacina Koné highlighted “At the heart of the digital transformation lies the need to bridge the digital skills gap of our continent’s future and present workforce. Today, I am pleased to announce that SADA, our capacity building vehicle, is geared to reach a new milestone thanks to our key development partner, The World Bank”.

“DTfA/ WARDIP is a crucial step toward an interconnected, innovative, and inclusive future for West Africa. Beyond shaping a digital landscape, it aims to foster regional integration through collaboration and strategic investments”, said Boutheina Guermazi, World Bank Director for Regional Integration for Africa and the Middle East. “It will break down barriers, cultivate a dynamic digital ecosystem, and empower local communities and businesses to thrive in the digital age”.

As the implementation progresses, SADA will focus on competency-based skills training that allows a pipeline of talents to be created for the job market in Africa and beyond. Additionally, the COVID-19 pandemic, advocated the need to mainstream ICT and digital into Africa’s educational system, and this will be achieved through the training portfolio for teachers and children, which focuses on Science Technology Engineering Arts and Mathematics.

SADA acknowledges the need for a tiered approach to digital skilling in Africa and has five main target groups with a multifaceted approach of interventions to these target groups, namely: Policy and Decision Makers, Youth and Entrepreneurs, Teachers and Students, Digital Experts and the General public. It federates existing initiatives and leverages on the convening power of the Smart Africa Alliance to implement solutions that are co-created with the countries and in collaboration with prominent international and private sector organizations, including the World Bank, ITU, BMZ, GIZ, IEEE, GSMA, USTTI and major tech companies.

SOURCE:https://brandspurng.com/2024/02/28/world-bank-gifts-20m-grant-to-smart-africa/

The Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) has announced an increase in the Monetary Policy Rate (MPR) by four hundred basis points, raising it to 22.75% from the previous 18.75%.


This decision was reached during the first MPC meeting for the year, as revealed by CBN Governor Yemi Cardoso in Abuja on Tuesday.

Cardoso stated, “All 12 members of the committee decided to further tighten monetary policy by raising the MPR by 400 basis points to 22.75 percent from 18.75 percent. Adjust the asymmetric corridor around the MPR to +100 to -700 from plus 100 to -300 basis points.”



The MPR had remained at 18.75% since the last MPC meeting held between July 24th and 25th, 2023.


With the country grappling with a 29.90% inflation rate, the increased MPR is part of the CBN’s strategy to address inflationary concerns.

Governor Cardoso also disclosed that the Cash Reserve Ratio (CRR) has been raised to 45% while the liquidity ratio remains unchanged at 30%.

Responding to questions about the economic challenges facing the country, Cardoso said that he and his team are not responsible for Nigeria’s current economic difficulties.

He stated, “I laugh at that question, but it’s not a laughing matter, and I think it is very important for Nigerians to understand that the Central Bank Governor — I and my team — are not responsible for the woes that we have today; we are part of the solution.”

Cardoso acknowledged the crisis of confidence in the country’s economy and expressed determination to implement measures that would improve the situation.

He said that efforts to restore confidence are ongoing and emphasised the importance of confidence in business for sustainable economic progress.

SOURCE:https://brandspurng.com/2024/02/28/cbn-raises-monetary-policy-rate-to-22-75/

In its 10th year of dedicating and promoting girl-child education and empowering women and young girls in critical thinking and leadership skills in secondary schools across Africa, African Women Foundation for Nation Building, WINBAFRICA, is set for this year’s edition with the theme, Bridging the Gab: Celebrating a decade of Nation Building” on Monday, February 26, 2024 at the Alliance Francaise, Mike Adenuga center, Ikoyi, Lagos – Nigeria.


A non-governmental organization, WINBAFRICA projects, and interventions include Education First Series, Project Sapphire, Orphanage Challenge, Project Back–to–School, WINBAFRICA Monthly Round Table, WINBAFRICA Food Bank, and the Production of a Monthly Newsletter.

This year’s edition marks the milestone celebration of unbroken 10 years of service to women and girl-child which started operations in 2014. As part of lineups for this year’s celebration, WINBAFRICA has announced the annual school debate competition and scholarship programme for 20 young girls across the continent. The Schools Debate will be between Steady Steps School, Lekki, and Bomak International Schools Surulere, Lagos, who have emerged at the final stage of the competition. Both schools will be competing for WINBAFRICA YOUNG NATION BUILDERS’ TROPHY (WYNBT) in a debate.

Speaking on the initiative, which is the first event in the series of events in 2024 to commemorate its 10th anniversary, the President, WINBAFRICA, and Chief Strategist, Irachy PR, Dr. Bukola Bello-Jaiyesimi said the organization is looking forward to expanding its reach and impact, and continuing to make a difference in the lives of girls across Africa.


She noted; “Through initiatives like the scholarship program, WINBAFRICA is paving the way for a brighter future for girls and empowering them to reach their full potential. WINBAFRICA’s 10th anniversary is a testament to the organization’s dedication and commitment to promoting education and empowering women and girls in Africa.


“This year’s programme is a significant step towards creating a more inclusive and equitable society, where girls have the opportunity to thrive and succeed, paving the way for a brighter future for girls and empowering them to reach their full potential. As we celebrate WINBAFRICA’s achievements over the past decade, let us continue to support and champion the rights of girls to education and empowerment. Together, we can build a brighter future for all.

“The school debate competition will provide a platform for girls to showcase their talents and engage in meaningful discussions on important social and economic issues facing them and the continent.”


Speaking further, Dr. Jaiyesimi revealed that aside from the Schools Debate competition, the senior secondary students of Bomak International College, Surulere, Lagos would be at the front burner discussing Environmental Responsibility during the WINBAFRICA Business Roundtable.

Founded in 2014 by a group of dedicated women led by Dr. Bukola Bello Jaiyesimi, an Entrepreneur, Pan-Africanist, and multiple award recipient with a passion for projecting women’s issues, WINBAFRICA is present in Ghana, Gambia, South Africa, and Ethiopia. The organization has been at the forefront of championing the rights of girls to education and providing them with the necessary tools and resources to succeed. Over the past decade, the organization has impacted the lives of thousands of women and young girls in Africa through its various programs and initiatives.

WINBAFRICA has the mandate to transform African society by supporting women and girls to play significant roles in nation-building as well as creating avenues for identifying, raising, and supporting women leaders, we come together to brainstorm on issues affecting their well-being and generating practical and achievable solutions, our fundamental tenet is education.

SOURCE: https://brandspurng.com/2024/02/25/winbafrica-sets-to-empower-women-scholarship-for-girl-child-in-africa/

VFD Group Plc, a leading proprietary investment company committed to fostering growth across diverse industries in Africa, has embarked on an impactful Corporate Social Responsibility (CSR) initiative.


In a collaborative effort with Narrative Landscape Press and GLG Communications, VFD Group donated Chimamanda Ngozi Adichie’s inaugural children’s book, “Mama’s Sleeping Scarf,” to the students of Comenius Nursery and Primary School as part of the Street 2 School Initiative.

This collaboration underscores VFD Group’s resolute dedication to social impact and education, particularly in underserved communities. The donation of 1,000 copies of “Mama’s Sleeping Scarf” aims to inculcate a love for reading and inspire young minds to explore limitless possibilities.

VFD Group Plc, a leading proprietary investment company committed to fostering growth across diverse industries in Africa, has embarked on an impactful Corporate Social Responsibility (CSR) initiative.


In a collaborative effort with Narrative Landscape Press and GLG Communications, VFD Group donated Chimamanda Ngozi Adichie’s inaugural children’s book, “Mama’s Sleeping Scarf,” to the students of Comenius Nursery and Primary School as part of the Street 2 School Initiative.

This collaboration underscores VFD Group’s resolute dedication to social impact and education, particularly in underserved communities. The donation of 1,000 copies of “Mama’s Sleeping Scarf” aims to inculcate a love for reading and inspire young minds to explore limitless possibilities.

During the school visit, Ms. Elmer Aluge, VFD Group’s Soft Power Specialist, and Mr. Odudu Abasi-Okon, Strategy Officer of VFD Group Plc, joined forces with Dr. Eghosa Imasuen, Director of Business Development at Narrative Landscape, to engage with the school’s administrators and students. Together, they shared stories, laughter, and the joy of discovering reading.


In a heartfelt address, Ms. Elmer Aluge urged the students to remain steadfast in their educational pursuits, emphasizing the power of reading. She remarked, “Education is the key that unlocks endless opportunities. Let the pages of ‘Mama’s Sleeping Scarf’ kindle your imagination and propel you towards greatness.”


Moved by the students’ enthusiasm, Dr. Eghosa Imasuen expressed his admiration for their curiosity and promised to relay their gratitude to Chimamanda Adichie, whose work continues to inspire young minds across the globe.

The event concluded with a touching exchange of gratitude as students and teachers presented the VFD Team, Narrative Landscape Press, and Chimamanda’s Publicist with handmade thank-you cards and gift bags.

VFD Group remains steadfast in its commitment to nurturing future leaders and fostering positive change through initiatives that empower and uplift communities.

About VFD Group:

VFD Group is a proprietary investment company that focuses on building positive and socially conscious ecosystems by aggregating potentially viable businesses with the objective of creating innovative products and solutions that are accessible to the everyday Nigerian citizen and entrepreneur.

VFD Group was founded by skilled professionals with diverse experiences, qualifications, and backgrounds.

As a future-focused group, we have successfully transformed our investment approach from being a financial service-focused proprietary investment company to taking a sector-agnostic approach to investment with a focus on creating a global ecosystem through investments and collaborations in various businesses and sectors of the economy that will enhance our global footprint.

SOURCE:https://brandspurng.com/2024/02/21/vfd-group-promotes-reading-culture-with-mamas-sleeping-scarf-to-students-of-comenius-nursery-and-primary-school/

As Nigeria finds itself at a critical crossroads, grappling with simultaneous challenges of a food crisis and a foreign exchange (forex) shortage.


This is even as the nation seeks solutions to mitigate these pressing issues, the debate over whether to open its borders for importation has intensified.

The food crisis gripping Nigeria has raised concerns about food security and access to essential nutrition for millions of citizens.



Adverse weather conditions, supply chain disruptions, and other factors have contributed to dwindling food supplies and soaring prices, placing a significant strain on households and exacerbating the vulnerability of already marginalized communities.


Meanwhile, the forex shortage has hampered Nigeria’s ability to import essential goods and raw materials, further exacerbating supply chain disruptions and exacerbating inflationary pressures.


Industries reliant on imported inputs, including agriculture, manufacturing, and healthcare, have been particularly hard hit, impeding economic growth and development.

In response to these challenges, some stakeholders advocate for opening Nigeria’s borders to facilitate the importation of food and other essential commodities.

Proponents argue that increased importation could help alleviate immediate food shortages, stabilize prices, and provide relief to vulnerable populations facing hunger and malnutrition.

However, others caution against the potential risks of opening borders amid a forex shortage. Critics raise concerns about the impact on domestic production and self-sufficiency, as well as the long-term consequences of relying heavily on imported goods. They emphasize the need to prioritize investments in domestic agriculture and infrastructure to build resilience against future crises.

As Nigeria navigates these complex issues, the government faces the daunting task of balancing short-term relief efforts with long-term strategies for sustainable development and economic resilience.

Proffering suggestion on how the government can address the unending inflationary pressures, Forex shortages, food prices hike and revitalise the nation’s economy, the Nigerian Association of Social and Resourceful Editors (NASRE), has advised the Nigerian government to adopt collaborative efforts involving policymakers, industry stakeholders, civil society organizations, and international partners to identify holistic solutions that address both immediate needs and underlying structural challenges.

On the debate over whether Nigeria should open its borders for importation amid the food crisis and forex shortage, the President of the advocacy group, Mr Femi Oyewale, underscores the urgency of coordinated action and innovative thinking.

According to him, now more than ever, solidarity, cooperation, and forward-thinking policies are needed to ensure the well-being and prosperity of all Nigerians.

“The question of whether Nigerian borders should be opened for food importation in the face of a food crisis is complex and multifaceted. However, there are factors to consider, which basically, Domestic Agricultural Capacity. Because opening borders for food importation could undermine domestic agricultural production by flooding the market with cheaper imported goods.

“However, if domestic production is insufficient to meet demand, importing food may be necessary to avoid shortages,” he said.

On the economic implications of borders opening, the President of NASRE, Oyewale, said: “Importing food can have economic ramifications, both positive and negative. On one hand, it can provide access to a wider variety of foods and potentially lower prices for consumers. On the other hand, it may negatively impact local farmers and exacerbate trade imbalances.”

The resourceful editors, while commenting on Food Security, pointed out that relying heavily on imported food leaves a country vulnerable to supply chain disruptions and price fluctuations in the global market. Therefore, it urged the federal government to develop a robust domestic agricultural sector, which is crucial for long-term food security.

According to Oyewale, the Nigerian government must consider its broader economic and agricultural policies when making decisions about food importation. This includes evaluating subsidies, tariffs, and investment in agricultural infrastructure.

“Importing food often involves long-distance transportation, which contributes to greenhouse gas emissions and environmental degradation. Promoting local production can help reduce the carbon footprint associated with food consumption.

“Food is not just a commodity; it is essential for human well-being. Government policies should prioritize ensuring access to nutritious and culturally appropriate food for all citizens, particularly those most vulnerable to food insecurity,” he added.

The Nigerian Association of Social and Resourceful Editors, NASRE, therefore, noted that the decision to open Nigerian borders for food importation during a food crisis should be approached cautiously, taking into account the country’s domestic agricultural capacity, economic implications, food security goals, environmental concerns, and social welfare considerations.

“A balanced approach that supports both domestic production and responsible trade practices may be necessary to address immediate food shortages while also promoting long-term food security and sustainability,” the Association stated.

SOURCE:https://brandspurng.com/2024/02/22/nasre-advises-fg-on-food-crisis-forex-shortage-amid-calls-to-suspend-import-ban/

Between 2011 and 2019, life expectancy across sub-Saharan Africa rose from 57.56 to 61.24 years. While there was a slight dip at the height of the COVID-19 pandemic, that rise is pretty remarkable.

Even more remarkable is the fact that life expectancy in the region was just 50 at the turn of the millennium. While there are numerous factors behind that rise, economic growth and improved disease prevention and treatment are among the most notable.

The former has ensured that a growing proportion of Africans have access to the basic infrastructure, like clean drinking water, that is so important to our overall health. The latter, meanwhile, means that diseases such as HIV/Aids, Malaria, and Tuberculosis are no longer as deadly as they once were (particularly to young people). Even with those advances, however, Africa still faces significant healthcare challenges. According to a 2021 report, close to half of Africans still don’t have access to the healthcare they need. And even when they do have access, attaining that healthcare can be incredibly time-consuming and frustrating. You only need to look at the queues at hospitals and clinics to see exactly how painful it can be.

One company, however, is trying to eliminate at least some of those frustrations, not just for Africans but for people around the globe. Founded in Nairobi, Kenya in 2018, My 1Health is a medical facilitator that’s dedicated to giving ordinary Africans access to specialised healthcare services globally. Beyond simply connecting people with healthcare expertise, My 1Health allows users to request emergency medical evacuations, have their cases reviewed by leading specialists, and receive tailored health packages to detect critical conditions or diseases early.
Additionally, it can assist with visa applications and facilitate airport transfers, hotel bookings, travel itineraries, and post-treatment follow-ups. Anyone who’s ever sought treatment in another city, never mind country, knows how difficult organising all of those things can be when you try and do them on your own.
According to Ephraim Mwangi, Head of Growth Marketing at My1Health, the products and services offered by the company have evolved but have always been wedded to its central vision.

“The goal was to create a platform that simplifies patients’ access to global healthcare services, irrespective of location,” he says. “Recognising the increasing demand for specialised services, our journey has been dedicated to expanding our services globally.”

“Providing multiple solutions is integral to enhancing user experience, ensuring accessibility through our smartphone app and web interface,” he adds. “Our commitment to refining and evolving our offerings reflects our dedication to global impact in the specialised healthcare industry.”

According to Mwangi, a key moment in My 1Health achieving this vision was the merger of International Medical Treatment Ltd and My Health Africa, resulting in a unified platform.
“This merger positioned us as global leaders in medical facilitation, constantly seeking new partnerships to fortify our presence worldwide,” he says. “By uniting the best of both worlds, the merger unlocked exponential opportunities. Our expanded network of 1 500+ doctors, 100+ hospitals, and a global reach has enabled over 40,000+ medical journeys.”
Ultimately, this means that patients have a greater level of choice than they would if they were restricted to their hometowns, cities, and countries.
“We empower patients with choice, offering local care when available and seamlessly connecting them with top global experts when needed,” says Mwangi. “This dual approach bridges the specialist gap while expanding options, ensuring everyone receives the best possible care, regardless of geographical constraints.”

According to Mwangi, the fact that My 1Health has been able to achieve everything it has is in no small part down to the way healthcare professionals have embraced the platform.
“My 1Health’s offerings have been embraced by doctors and healthcare workers,” he says. “We continue to forge strategic partnerships with hospitals and clinics, integrating seamlessly into existing workflows and empowering local healthcare teams.”
The My 1Health team has, of course, worked hard to ensure that it is a platform they can embrace.
“We have developed a collaborative approach that fosters trust and adoption, driving sustainable growth and ensuring healthcare professionals see My 1Health as a valuable tool, not just another platform,” he says.
Getting to this point has not, of course, come without its own set of challenges.
“My 1Health has navigated numerous challenges, including language barriers and market competition,” says Mwangi, adding that the company’s focus on technology and facilitation services has helped it address these challenges head-on.
Going forward, My 1Health plans to expand its global footprint to even more markets.

“My 1Health is committed to global expansion, with plans to extend to the Middle East and South Asia this year,” says Mwangi. “We’re excited about bringing our platform to new markets, and we aim to be the global leader in medical facilitation services through technology, patient-centricity, and strategic partnerships.”

Despite the very clear challenges faced by African healthcare, it has also been home to many pioneering medical innovations and procedures, such as the first heart transplant, middle ear transplant, and the world’s first successful intraocular lens implantation for cataract surgery. It’s also where critical technologies like the CT Scan were developed.

Could My 1Health build on that spirit of innovation to help ensure that anyone can access the healthcare they need, no matter where they are in the world? Given what it’s achieved so far, you’d be hard-pressed to bet against it, at least playing an important part in that revolution.

SOURCE:https://brandspurng.com/2024/02/17/african-healthtech-my-1health-connects-patients-with-global-healthcare-expertise/

The much talked about Samsung Galaxy AI smartphone is now available at Gloworld shops across the country.


While Glo customers who pre-ordered the phones have been receiving their orders, others who desire to own the coveted handsets but did not pre-order have been flocking to Globacom’s retail outlets, Gloworld, to purchase them.

Before the arrival of the AI smartphones in Nigeria, the digital solutions company and world’s leading manufacturers of electronic devices, Samsung, had entered into a partnership which allows Glo subscribers to own the Galaxy S24 AI smartphones. Under the partnership, any subscriber who buys any of the Galaxy S24 series will receive from Glo free data up to 18GB.



The preordering exercise, which will end on February 13, gives phone lovers who wish to purchase the device exclusive opportunity to pick different models of the phone, including S24 Ultra, the highest and most expensive of the series, followed by the S24+ and then the S24 base model. The key differentiating factors amongst the models are the processor and storage space.

The S24 AI device is capable of giving customers a unique experience due to its artificial intelligence. It comes with different functionalities including Circle to Search, which brings instant result when the home icon is pressed and anything on the screen, (images, video or text) is circled, Live Translate through which the Galaxy AI-powered device makes bilingual calls seamless, very perfect for stress-free conversations and also Advanced Camera Experience with the Photo Assist, a new powerful AI editing tool with studio-quality features.


Globacom urged its subscribers and other Nigerians who are yet to take advantage of the offer to visit the nearest Gloworld shop in their location to pre-order their preferred model of the Samsung Galaxy S24 AI.

SOURCE:https://brandspurng.com/2024/02/13/samsung-galaxy-ai-available-at-gloworld/

With a wealth of experience spanning over three decades, Ziad Maalouf, Managing Director of Seven-Up Bottling Company (SBC), is undoubtedly someone whom a small enterprise owner would value spending a few minutes with Over the weekend, 40 small and medium-sized enterprise owners had the luxury of hours of lectures and interaction with this highly experienced entrepreneur. This opportunity was made possible through the SMEs Scale-Up Bootcamp, organised by SBC in partnership with Zenith Bank and the United Nations Industrial Development Organization (UNIDO).

After running his business and working with multinational companies in Asia, Ziad has dedicated over 17 years to working in Nigeria with SBC. He admires the spirit and business acumen of Nigerian entrepreneurs, and he believes in the importance of fostering the growth of this vital sector in the Nigerian economy by empowering entrepreneurs to scale. Participants at the bootcamp were enthusiastic about his depth of knowledge and found his practical and engaging presentation inspiring.

Here is a summary of scaling tips for budding entrepreneurs provided by Ziad:
Identify your ‘sweet spot’: A sweet spot is a combination of three things that every entrepreneur must get right. According to Ziad, not every idea will scale up. Ideas with the potential for scaling are those that harmonise your experience, passion, and address a genuine need in the world (or have the potential to do so). Ziad advised entrepreneurs that if their current business fails to encompass all three aspects, a reconsideration is necessary. “You might just be in the wrong business,” he emphasised.

Avoid look-alike recruitment: When Ziad mentioned this, almost all the entrepreneurs in the room felt guilty. It’s one of the traps several entrepreneurs fall into. He recommended the SABI (Strive, Accountability, Bonding and Innovation) formula for entrepreneurs when recruiting and task allocation. He said, as innovators, entrepreneurs should scout for talents and skills they lack in others.


Network: Ziad emphasises that startups often overlook the importance of networking. He asserts, “Your business won’t scale up until you elevate your relationships.” Additionally, he underscores the significance of a robust network in times of crisis, stating, “If you are scaling up, you need to be prepared for crises, as they will inevitably confront you, especially as a big company.”

Increase willingness to pay: This is tied to creating value that will make the customer want to pay more for your product or service. Ziad said businesses willing to scale must provide functional, social, and emotional value. “What many entrepreneurs don’t know is that customers are willing to pay more if you offer the value. This is what gives an edge over a competitor. When you have the value that the world needs, customers will neglect other products for yours.”

Distinguish cash and profit: According to Ziad, this is a part that has killed millions of SMEs. “Profit is not cash. Cash tells you how well your business is doing financially. It shows you how much you earned in a period, not how much you have left. A profitable business can run into trouble if it does not have cash. Cash is the oxygen of the business. Lose it and you are gone,” he said.

Teamwork: Ziad acknowledged that entrepreneurs want to be involved in every aspect, but warned that it’s a pitfall to avoid. He advised that a passionate leader of a business should build a team and delegate work. “Spend more time on ideas to grow the business rather than stalling the growth by trying to micromanage,” he said.

Know when to take a loan: For growth and expansion, he said there is usually a need for a loan if your savings can’t cover the capital needed. “When I hear people say I run a debt-free company, I smile. It sounds stupid to me. For instance, I don’t see why you should not take a loan of N100m at 25% interest rate a year if it will yield you a profit of N200m in two years. Another thing to note is to be honest with the banks when taking loans. Of the five Cs of lending (Character, Capacity, Condition, Capacity and Collateral), character is very key to accessing loans. Yes, we want to paint good pictures to impress the banks, but they also look at your sincerity and honesty while presenting your plan,” he said.

Adopt artificial intelligence: Ziad also advised entrepreneurs to adopt technology that will boost their productivity, efficiency, and quality of products and services. This, he said, is key to scaling in today’s business world.

SOURCE:https://brandspurng.com/2024/02/10/strategic-tips-for-sme-growth-by-md-of-seven-up-bottling-company/

Nigerian folk singer and veteran actor, Jimi Solanke popularly known as Uncle Jimi is dead.


Solanke was said to have died on Monday morning at the age of 81 in Ogun State.

The lawmaker representing Remo North State Constituency at the Ogun State House of Assembly, Dickson Awolaja, confirmed the death of the veteran actor to Punch.



He said the legendary poet and playwright was said to have been in and out of hospital from December until he died today.


Awolaja said Solanke died while being rushed from his country home at Ipara Remo in Remo North Local Government Area of Ogun State to Babcock University Teaching Hospital, Ilisan when he succumbed to the cold hands of death.


He said “I got wind of the demise of Pa Jimi Solanke not long ago. His death is no doubt another big loss to us in Remo North and Ogun State as a whole given his worthy contributions to the development of our dear nation. May his soul rest in peace”.
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Solanke is known for Kongi’s Harvest, Sango, Shadow Parties, and many more.

All You Need To Know About Late Jimi Solanke
1. Jimi Solanke, a native of Ipara-Remo, Ogun State, was born on July 4, 1942, in Lagos.

2. He was fondly called ‘Uncle Jimi’ or ‘Baba Agba’

3. He was a Nigerian storyteller, film actor, dramatist, folk singer, poet, and playwright.

4. He attended Olowogbowo Methodist School for his elementary education before proceeding to Odogbolu Grammar School, Ogun State.

5. He graduated from the University of Ibadan, where he obtained a diploma certificate in drama.

6. Solanke joined the Department of Dramatic Arts at the University of Ife (now Obafemi Awolowo University, OAU) in 1969.

7. After graduation, Solanke moved to the United States, where he created a drama group called The Africa Review, focusing on African culture. Members of this group usually put on African clothing, specifically Yoruba costumes.

8. Jimi Solanke established himself in Los Angeles, California, where his storytelling career began. He was described as a “master storyteller.”

9. In 1986, he returned to Nigeria with three members of the African Review Group to work with the Nigerian Television Authority. Then, he came up with Storyland, where he tells stories with the insertion of artistic works by artists. At the same time, he plays his guitar with kids surrounding him, singing and dancing.

10. Some of his songs include Onile Gogoro, Eje ka jo, Jenrokan, and Na today you come. He also produced albums such as Eke ka jo (Let us Dance), In the Beginning, Ase, Storyteller, America Has Got Magic, Orin Orisa, Multiplicity of Praise, Hidden Gold, and Once Upon a Time.

11. He starred in several shows on Nigerian Television (NTA) starting from the 1960s to date, including The Bar Beach Show, For Better for Worse, Village Headmaster, Family Scene on Lagos Television (LTV), Children’s Half Hour, Storyland, African Stories on (AIT), and Sango.

12. He began his professional acting career in 1961 as one of the pioneer members of the Orisun Theatre Group, founded by Wole Soyinka.

13. He was part of the team that made the film Kongi’s Harvest by Nobel Laureate Wole Soyinka.

14. As an actor, he played different characters in movies such as Kurumi, Chattering and the Song, Ovoramwen Nogbaisi, The Divorce, Death and the King’s Horseman, and Siswe Bansi’s Death.

15. He was the voice of the narrator in Nollywood movie, Jagunjagun.

SOURCE:https://brandspurng.com/2024/02/05/nigerian-foremost-dramatist-and-folk-singer-jimi-solanke-is-dead/

The World Bank’s Managing Director of Operations, Anna Bjerde, is set to arrive Nigeria for a pivotal two-day engagement in an unprecedented visit scheduled for February 6, 2024.


According to a statement from the bank, this marks her inaugural trip to Nigeria in her current role, symbolizing a significant stride in the World Bank’s deepening involvement with Nigeria’s developmental trajectory.

Bjerde’s visit focuses on key pillars of Nigeria’s development strategy, encompassing macroeconomic and fiscal policies, energy access, digital infrastructure enhancement, and skill development.



The statement reads, “World Bank Managing Director of Operations, Anna Bjerde, will begin a two-day visit to Nigeria on February 06, 2024.


“Ms. Bjerde will use the visit —her first to Nigeria as Managing Director of Operations— to further the World Bank’s engagement with Nigeria on critical aspects of the country’s development agenda, including macroeconomic and fiscal policy, energy access, digital infrastructure, and skills.

“She will participate in a meeting of Western and Central Africa Ministers of Finance co-hosted by the Government of Nigeria and the World Bank.

“At the meeting, Ms. Bjerde will discuss the ambitious regional development priorities and how additional International Development Association (IDA) resources can further support countries to “leap forward” and attain sustainable growth, jobs, and development.

“While in Nigeria, Ms. Bjerde will hold bilateral meetings with the Hon. Minister of Finance, Mr. Olawale Edun, the Hon. Minister of Budget and Economic Planning, Mr. Abubakar Atiku Bagudu, and the Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso. She will host a roundtable discussion with private sector leaders in the energy and digital sectors.”

SOURCE:https://brandspurng.com/2024/02/06/world-bank-director-to-meet-with-cbn-governor-nigerian-ministers/

The Central Bank of Nigeria (CBN) says it has no plans to convert domiciliary account holdings valued at 30 billion dollars into Naira.


Mrs Hakama Sidi-Ali, CBN’s Acting Director, Corporate Communications Department, made the clarification in a statement in Abuja on Saturday.

Sidi-Ali’s statement was a reaction to a media report that the apex bank planned to convert domiciliary accounts into Naira, to address the unending depreciation of the local currency.



“The attention of the CBN has been drawn to a story published by a national newspaper, alleging that the Federal Government is considering converting 30 billion dollars domiciliary deposits to Naira.


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“This allegation is absolutely false and aims to trigger panic in the foreign exchange market, which the CBN is working assiduously to stabilise, as evidenced by its recent work and policy directions.

“Similar false narratives have been spread on the work of the CBN over the past few months and it is clear that vested interests are determined to sabotage our efforts,” she said.

She assured that the CBN was working to build confidence and would never do anything to undermine the currency and the economy.

She urged all stakeholders to disregard stories aimed at causing panic in the system and see them as acts of national sabotage.

“We wish to advise, in the strongest terms, against the peddling of false reports that have the potential to be disruptive to the economy.

“The CBN is the only designated authority for monetary policy changes and will always advise on any policy changes before they are brought into operation,” she said.

The Naira has been on a free fall in the last few days, exchanging at N1,500 to the dollar.

This has created panic among some stakeholders who have been calling on the apex bank to take urgent steps to strengthen the Naira.

SOURCE:https://brandspurng.com/2024/02/04/cbn-breaks-silence-on-plans-to-convert-domiciliary-accounts-into-naira/

The National Bureau of Statistics (NBS) has released its Nigeria Electricity Report for the third quarter of 2023, revealing an increase in the number of electricity consumers.


According to the report, the figure rose by 240,000, moving from 11.47 million in the second quarter of 2023 to 11.71 million in the third quarter, indicating a growth rate of 2.08%.

The report focused on key metrics, including energy billed, revenue generated, and customer statistics provided by electricity distribution companies (DISCOS) during the reviewed period.



On a year-on-year basis, the number of electricity customers recorded a substantial increase of 7.09% in Q3 2023 compared to the 10.94 million reported in the same quarter of 2022.


Metered customers stood at 5.68 million in Q3 2023, reflecting a 3.77% increase from the 5.47 million recorded in the preceding quarter.


The year-on-year growth in metered customers was reported at 13.07%, up from 5.02 million in Q3 2022.

Estimated electricity customers, another category in the report, totaled 6.03 million in Q3 2023, showing a 0.53% increase from the six million recorded in Q2 2023.

The year-on-year comparison indicated a 2.02% rise in estimated customers, up from 5.91 million in Q3 2022.

In terms of revenue, electricity distribution companies collected N260.16 billion in Q3 2023, a slight decrease from the N263.08 billion recorded in Q2 2023.

However, on a year-on-year basis, there was a substantial increase of 28.40% over the N202.62 billion collected in the third quarter of 2022.

The report also highlighted a reduction in electricity supply to 5,731.60 (Gwh) in Q3 2023 from the 5,909.83 (Gwh) recorded in the second quarter of the year.

Despite this quarterly decline, the year-on-year comparison indicated a positive trend, with a 14.09% increase in electricity supply in Q3 2023 compared to the 5,023.96 (Gwh) reported in Q2 2022.


SOURCE:https://brandspurng.com/2024/02/01/nigeria-records-2-08-increase-in-electricity-consumers-nbs/

The International Monetary Fund (IMF) has predicted a decline in Nigeria’s inflation rate to 23 percent in 2024 and 15.5 percent in 2025.


IMF’s Division Chief of Research Department, Daniel Leigh, disclosed this at the Fund’s World Economic Outlook (WEO) update press conference on Tuesday.

Nigeria’s inflation rate stood at 28.92 percent as of December 2023, and has been on the rise for 11 consecutive months.



Reacting to the foreign exchange reforms introduced by the Central Bank of Nigeria (CBN) to curb inflation and the free fall of the naira, Leigh said the monetary tightening stance of the apex bank would help reduce inflation rate.


Leigh said one of the drivers of inflation is the weak naira following reforms by the financial regulator.


He stated: “Now there’s also structural factors behind that high inflation, including, you know, on the fiscal side, financing of the deficit. But this is clearly creating hardship. The perspective that we have is bringing down inflation is top priority.

“And the CBN has already raised interest rates significantly over the past year to 18.8 percent. So that is the monetary tightening that is helping in our forecast to bring inflation down from 24.6 percent in 2023 percent, to 23 percent this year, and then closer to single digits into 2025 at 15.5 percent.”

According to Leigh, while the monetary tightening to conquer inflation is ongoing, Nigeria should prioritise revenue mobilisation, and widen its tax base to provide social support.

“On top of conquering inflation through monetary tightening, there’s also a need to provide social support through the budget and creating the space for that is the challenge.

“Our perspective is that more revenue mobilisation, strengthening revenue administration, widening the tax base, this is what is going to bring in space for development spending while safeguarding fiscal sustainability,” Leigh added.

SOURCE:https://brandspurng.com/2024/02/01/imf-nigerias-inflation-rate-will-drop-to-23-in-2024-15-5-in-2025/

The Nigerian Maritime Administration and Safety Agency (NIMASA) is collaborating with the management of Dangote Group to address operational concerns of the Dangote Refinery.


The committee has been set up to come up with a workable plan within 14 days. The media could not be loaded, either because the server or network failed or because the format is not supported.

This is even as the NIMASA Director General, Dr. Bashir Jamoh, pledged the Agency’s commitment to ensuring that the operations of Dangote Ports and refinery are not impeded by different regulatory instruments under the provisions of the Cabotage law.



Jamoh made the assertions during a courtesy visit by a delegation from Dangote Port Operations, led by the Managing Director Dangote Port Operations, Mr Akin Omole to NIMASA.


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He promised that the Agency will work with Dangote Ports to also ensure the Group does not breach any regulation of the Federal Government as regards Wet Cargo afreightment.

Both parties agreed to set up a working committee to address the operational concerns at the refinery within 14 days.

“Though the coming on stream of the Dangote Refinery would lead to a drop in NIMASA revenue, because ships importing petroleum products would reduce drastically thus reducing the 3% freight levy collected by the Agency. However, Nigerian economic growth and long term benefit to the Nigerian masses is far better than immediate revenue for NIMASA,” he said.

He said, “We talked about business being done in a way that there is no obstruction, no delay. “In shipping, a day’s delay is a huge cost, we have an average of over $50,000 demurrage on a ship per day, so we want to be sure that these kinds of delay are not experienced.”

SOURCE:https://brandspurng.com/2024/01/26/nimasa-dangote-refinery-to-address-operational-concerns/

Mesh virtual meeting spaces were fully launched on Wednesday, marking the official arrival of Microsoft’s metaverse for the workplace.


Employees can now put on a virtual reality headset and engage with coworkers in a variety of three-dimensional environments in place of a Teams video call. Microsoft cites a number of use cases for this, including employee onboarding, town halls, social gatherings, and brainstorming sessions.

Not everyone needs a VR headset to access mesh spaces. Users can access them with a standard PC and control a customized avatar that can interact with the different settings. Support for Meta’s Quest headsets will be available on Thursday for those who desire an entirely immersive experience. (Microsoft declined to comment regarding the availability of Apple’s upcoming Feb. 2 launch of Vision Pro.)


Immersive meetings can help remote workers stay connected to colleagues and their wider organization, according to Microsoft — and that can aid in employee retention.


Meetings in Mesh give employees a “feeling of co-presence, even when they are physically separated,” a Microsoft spokesperson said, with features such as spatial audio adding to the sense of immersion.

There are two ways to access Mesh spaces. One is via an option in the View menu in Microsoft Teams; there’s also a standalone app available in the Microsoft App Store and coming to the Meta Quest App Store tomorrow.

Businesses can also customize 3D environments using a no-code editor, adding company logos for instance. For more control over Mesh spaces, there’s as a Unity-based “toolkit” for building 3D venues.

By addressing some of the limitations of video meetings, Mesh can “play a role in creating cohesion for hybrid working arrangements,” said J.P. Gownder, vice president and principal analyst at Forrester.

Whether Mesh will gain significant traction among business users remains unclear. Had the application launched in 2020, when the COVID-19 pandemic spurred an uptick in remote work and investment in collaboration tools, Mesh might have had a better shot at widespread adoption, as seen with the boom in video conferencing tool usage.

“The fact that people are more mobile now means that Mesh’s immersive spaces are unlikely to defray business travel, which has resumed in force,” said Gownder, who suggested a “much more gradual adoption rate than if the tool had debuted in 2020.”

There’s also the key question of whether workers will be happy to meet and collaborate in virtual spaces using an avatar.

The mood around metaverse-related technologies has shifted markedly in the three years since Mesh was introduced (initially as a mixed reality collaboration platform), despite the efforts of tech vendors such as Meta that have pushed the metaverse concept. Meta has its own workplace collaboration tool, Horizon Workrooms, which has been in beta for the past two years.

“Like all ‘metaverse’ related technologies, a great number of people seem to find the concepts unappealing,” said Gownder. “That said, making it a feature of Teams means that those who find it useful can experiment and potentially create gravity to bring others into immersive spaces if they are truly useful. Time will tell.”

Mesh is now generally available to customers on Teams Essentials, most Microsoft 365 plans, and Office365 enterprise tiers. Use of custom Mesh environments requires Teams Premium licenses.

SOURCE:https://brandspurng.com/2024/01/29/microsoft-introduces-teams-mesh-3d-meetings/