₦airaland Forum

Mission: Impossible – Fallout,” the sixth film in the spy series starring Cruise, opened to an estimated $61.5 million at the domestic box office this weekend.

That makes “Fallout” the biggest opening in the history of the 22-year-old franchise. It just beat out 2000’s “Mission: Impossible II.”

The Paramount film was also the second highest-grossing opening weekend for Cruise, eclipsed only by 2005’s “War of the Worlds.” “Fallout” also exceeded industry expectations for a $50 million opening.

This weekend is not just a big win for Cruise, but also for Paramount.

It marks the biggest opening of the year for a studio that has been struggling. Paramount ranks sixth in box office revenue among major studios in 2018.

The film, which also stars Rebecca Ferguson and Henry Cavill, was also a big win around the world bringing in $153.5 million globally.

“Mission: Impossible” is a rare blockbuster brand that is sold on a star in Cruise, not a brand like Marvel or “Star Wars.” Cruise is the face of the franchise, which has made roughly $3 billion at the worldwide box office. Selling Cruise, and his extensive stunts, paid off for the studio this weekend.

“Paramount did a masterful job of putting Cruise, the key asset for the ‘Mission: Impossible,’ front and center in their marketing campaign and publicity for ‘Fallout,'” said Paul Dergarabedian, senior analyst for comScore. “This paid off handsomely for the latest installment of what has become one of the most popular and long-running action franchises of all-time.”

“Fallout” is another hit for this year’s surging summer at the box office. The US box office is up 10.2% this summer from the same point in the season last year.

SOURCE: https://brandspurng.com/paramount-sees-mission-impossible-fallout-become-the-biggest-opening-in-the-history-of-the-22-year-old-franchise/

The Coca-Cola company has reported 5% growth in organic sales driven by consumer preference for healthier drink options such as Zero Sugar and Diet Coke, beating analysts’ expectations for sales and profits in the second quarter.

Reuters has reported that following the financials release, its shares rose 2.7%.

Positive earnings were attributed to its focus on globalizing its ‘health’ brands including stevia, dairy free, and low or no sugar range.

The company launched its dairy-free smoothie brand AdeZ in Europe, Coca-Cola Stevia No Sugar in New Zealand and it revamped its market campaign for Diet Coke in the UK after an initial launch in the US, all in a bid to boost sales.

Net income increased from US$1.37 billion in the previous quarter to US$2.32 billion while earnings from continuing operations rose 68% to 53 cents a share.

Global volume grew 3%, its strongest in five years pushed by the strong performance of its trademark Coca-Cola brand and Fuze Tea.

“We’re winning in the marketplace so far this year and our strategy’s on track,” Chief Executive Officer James Quincey said on a call with analysts.

“We’re getting strong first half overall revenue growth and volume growth with our Zero, Diet portfolio in the U.S., which is a part of our strategy to go forward. So good numbers, much better than before.”

Its water and sports drinks, which include brands like Powerade, grew 4%.

Organic sales growth was reported in Europe, Middle East & Africa and Latin America (7% and 11% respectively) while in North America, this dropped 1%.

Coca-Cola’s juice brands like Minute Maid weighed down volumes in the region has grown only by 1%.

The volume of Coke’s juice, dairy, and plant-based drinks dropped 6% due to decline in part to its shrunken juice boxes in response to increased costs of packaging and orange juice imports.

During the quarter, the company has prioritized innovative product offerings and dropped some of its less profitable juice brands as it seeks to become a total beverage company.

“I think the juice thing will start to improve as we get into the back half. We’ll do better competitively. And I think the consumer environment will adjust to the new packaging in the new price points,” said Quincey to analysts.

Revenue fell 8% to US$8.93 billion, but the company saying this was anticipated following efforts to divest its low-margin bottling operations as it works on refranchising.

Coca-Cola anticipates a 4% growth in organic revenue and at least 9% growth in adjusted net income for the year 2018.

SOURCE: https://brandspurng.com/coca-cola-tops-estimates-as-diet-drinks-drives-5-organic-sales-growth/

Historically, Nigeria has shown a record of reliance on imported refined and raw sugar for household consumption and industrial uses. In the last decade data from the Nigerian Sugar Development Council (NSDC) as at 2016 showed that a yearly average of c.$5.1mn was spent on sugar importation. Although we saw upspring of sugar refineries, Nigeria is still heavily reliant on the importation of raw materials. In 2008, the Nigerian Sugar Master Plan (NSMP)was birthed but was not approved until 2012. The Master Plan was designed to curb unbridled importation and facilitate local production.

The NSMP compels private sector players to embark on backward integration programme, regulation of importation through quotas and granting of fiscal
incentives to participants. Three refineries – Dangote Sugar, Golden Sugar, and BUA Sugar – were approved for the backward integration programme and have been
benefiting from concessionary tariffs on the importation of sugar.

READ: KEY FACTS ABOUT THE NEWLY COMMISSIONED SUNTI SUGAR ESTATE IN NIGER STATE

Nevertheless, the United States Department of Agriculture (USDA)forecasts sugar production in Nigeria to increase from 0.7MMT in 2016/17 to about 0.8MMT in
2017/18. We also expect recent improvement in government support through the CBN’s Anchor Borrowers Program (ABP) and forex stability to facilitate importation of machinery necessary to further buoy local production, hence, improving capacity utilization of integrated mills.

According to the Nigeria Sugar Development Council (NSDC), in 2016, the soft drinks and food & beverages sector accounted for over 60% of the total industrial
sugar consumption in the country. While bakeries & confectionaries, pharmaceuticals, and dairy sectors culminated the remaining 40%. This further buttresses our outlook for growth in the sugar industry as all subsectors that rely on the industry for inputs are well positioned in the consumer staples industry which is deemed to benefit from expanding population and growing middle-class income in the country.

The soft drinks and food & beverage sectors accounted for over 60% of industrial sugar consumption in 2016

Cultivation of sugarcane: Sugarcane is a perennial crop that thrives in the tropical land with plenty of water needed for its cultivation. Across the globe, It is cultivated in exportable quantities in Brazil, India and the EU; also, Nigeria has embarked on the NSMP to facilitate local cultivation in the country.Milling of cane sugar to raw sugar:cane sugar is harvested, cleaned and crushed with the juice extracted after going through some mechanical processes. The milling process produces; a) raw sugar that is transferred to refineries for further processing into refined sugar b) molasses used in the production of ethanol and animal feeds and c) bagasse used as a source of biofuel to generate energy.Refining raw sugar to granulated sugar: raw sugar passes through several purification and refining processes to be finally transformed into granulated sugar. Brown sugar is produced in the earlier stage of the refining process while white sugar is typically produced at the later stage.Distribution and consumption of packaged sugar: refined sugar is further packaged for distribution into sugar bags for delivery to industry users and wholesalers. Industrial uses of sugar include; pharmaceutical use in growing penicillin and masking the taste of bitter drugs, textile use in sizing and finishing fabrics, bio-chemicals use as input for some insect repellant and most importantly, use in beverage and confectionaries among others.
The final consumer concludes the value chain, through domestic use in direct food sweetening or indirect consumption from final products of industrial
users.

Industry structure: Policy-driven

The Nigerian sugar industry can be characterized as oligopolistic in nature. It is dominated by three players – Dangote Sugar Plc, Golden Sugar Ltd, and BUA Sugar
Ltd with a total refining capacity of 2.3MMT. However, the capacity utilization of players in the industry has been capped by the raw sugar importation quota
imposed by the Federal Government of Nigeria through the NSMP. The industry has gone through policy reforms over the last decade has given the Federal Government’s interest in reducing raw sugar importation and developing an integrated sugar framework for the country. However, implementation of the NSMP has been greatly hindered by structural bottlenecks, including land acquisition and the shortage of skilled manpower. Despite the challenges, the three players involved have drawn up their individual projects, tailored to the NSMP hence sustaining the goal of the Plan.

Oligopoly, low capacity utilization characterize the Nigerian sugar industry

Market share: DANGSUGAR leads the pack

DANGSUGAR leads the sugar industry with 61.5%* market share and production capacity of 1.44mmtp/a, a feat it has been able to achieve through pioneer advantage, long-standing presence in the market, large production capacity, volume driven marketing strategy, strong distribution, and delivery network. The remaining two players in the industry, Golden Sugar Ltd, and BUA Sugar, hold 32.1% and 6.4% of the market respectively.

DANGSUGAR is the largest player by capacity in the Nigerian sugar industry

Bargaining power of buyers (High: 4/5);

Business to Business (B2B) consumers has high bargaining power because they buy in large quantities and make a large chunk of consumers for the industry. However, this power is moderated due to high switching cost because refined sugar is essential inputs for consumers such as bakeries, confectionaries, pharmaceutical companies, and manufacturers.

Bargaining power of sellers (Low: 2/5);

Raw sugar, the major input for the industry, is imported from different sellers in Brazil and other producing countries. Also, the industry’s players import in large quantities hence giving them high bargaining power when negotiating for trades. The implementation of backward integration programme by many producers is likely to reduce reliance on importation going forward hence delimiting power of suppliers.

The threat of entry (Very low: 1/5);

Due to the high capital requirement for production and large economies of scale already enjoyed by existing players, there are stringent requirements for entry. In effect, the number of players is capped.

The threat of substitutes (Very low: 1/5);

Refined sugar, the final product of the industry does not have a clear substitute for the purpose it is used for, and even when it is available it has relative value given high switching costs for consumers.

Competitive rivalry (High: 4/5);

Players in the industry produce similar final products that can be easily substituted, leading to heated rivalry amongst the players.

The relatively constrained bargaining power of buyers imply that sugar producers have control over pricing of their products; the low bargaining power of sellers
shows that the pricing power of inputs for the industry is not influenced by a single seller, low threat entry indicates sealing in margins by players while eliminating
erosion of margins by small players; low threat of substitutes shows low replaceability of the final goods and implies continuous demand. Although the competitive
rivalry seems high, the supply deficit in the industry leaves room for growth especially for firms with the large scale of production. All these culminate into the positive outlook for the industry’s growth and viability, hence the firms therein.

Outlook: Metamorphosing into a wholly integrated sugar business

The outlook for Dangote sugar is hinged on its ‘Sugar for Nigeria Project’, that was embarked on in 2012, with the goal of achieving the capacity of producing
1.5million tonnes of refined sugar from locally sourced sugarcane over the span of 10 years. This was not just to enable the company to become a fully integrated sugar business but to also eliminate the high cost of imported raw material and enhance the capacity to serve local and export markets. In addition, as an offshoot of running an integrated sugar business, the company plans to source power in-house from bagasse and produce fuel ethanol, animal feeds from bagasse and bio-fertilizer from sugar mud-cakes. As at FY-2017, a sum of N101bn had been spent on the project, and media sources suggest that c. $4.6bn will be ploughed further into the business by the parent company.

 

 



SOURCE: https://brandspurng.com/the-nigerian-sugar-industry-analysis-local-consumption-continues-to-outweigh-production/

interesting

hmmmmm, too bad

interesting

Ok

following

Telegram, the privacy-oriented messaging app, has released version 4.9 of its app for both Android and iOS devices bringing a major new feature: Telegram Passport. The team behind the app says this is phase two of its Telegram Login project, which was first introduced back in February.

Our digital lives are getting closer and closer to the real world, and the number of services that need to know your real-life ID increases accordingly. Before today, this meant you had to upload the same document scans over and over for each new app. No more!

Meet Telegram Passport – a unified authorization method for services that require personal identification. Upload your documents once, then instantly share your data with services that require real-world ID (finance, ICOs, etc.).



Protected by End-to-End Encryption

Your identity documents and personal data will be stored in the Telegram cloud using End-to-End Encryption. It is encrypted with a password that only you know, so Telegram has no access to the data you store in your Telegram passport. When you share data, it goes directly to the recipient.

In the future, all Telegram Passport data will move to a decentralized cloud.

Try It Now

If you’d like to see a real-life implementation of Telegram Passport, head over to ePayments.com – the first electronic payments system to support registration and verification with Telegram Passport.

You can also try out how Telegram Passport works using this page to request data.

Please note that you need the latest version of Telegram to access this feature. Once you’ve uploaded some documents, you will see your data in Settings > Privacy & Security > Telegram Passport (on iOS: Settings > Telegram Passport).

Connect Telegram Passport

All developers are welcome to integrate Telegram Passport into their apps and services free of charge. It takes minimum effort and can save many hours of coding.

If you are building a service that requires real-life ID, check out the API docs for SDKs and examples.

Stay Tuned

We will soon be adding third-party verification for Telegram Passports. This way, some services won’t even need to request the data itself, instead relying on the fact that the Telegram account was approved by a verification provider and the person is real.

SOURCE: https://brandspurng.com/telegram-messenger-introduces-passport-a-method-to-securely-store-and-share-identification-documents/

Continued progress with the Nestlé value creation model and on track to meet our full-year guidance, supported by increased momentum in the United States and China, as well as in infant nutrition.
Organic growth of 2.8%, with 2.5% real internal growth (RIG) and pricing of 0.3%.
Total sales increased by 2.3% to CHF 43.9 billion (6M-2017: CHF 42.9 billion). Acquisitions and divestments netted to zero. Foreign exchange reduced sales by 0.5%.
Underlying trading operating profit margin was 16.1%, an increase of 20 basis points in constant currency and on a reported basis.
Trading operating profit margin was 14.6%, a decrease of 50 basis points on a reported basis due to higher restructuring costs and net other trading items.
Earnings per share increased by 21.4% to CHF 1.92 on a reported basis. Underlying earnings per share increased by 9.2% in constant currency and by 10.4% to CHF 1.86 on a reported basis.
Free cash flow increased by 52%, from CHF 1.9 billion to CHF 2.9 billion.
Full-year guidance for 2018 confirmed, with organic sales growth expectation, narrowed to around 3%; underlying trading operating profit margin improvement in line with our 2020 target. Restructuring costs1 are expected at around CHF 700 million. Underlying earnings per share in constant currency and capital efficiency are expected to increase.

Mark Schneider, Nestlé CEO said:“Our first-half results confirmed that our strategic initiatives and rigorous execution are clearly paying off. Nestlé has maintained the encouraging organic revenue growth momentum we saw at the beginning of the year. In particular, the United States and China markets showed a meaningful improvement. We were also pleased by the enhanced organic growth in our core infant nutrition category.

Our margin development is fully consistent with our 2020 target. We are creating value by pursuing growth and profitability in a balanced manner. In line with this approach, we have accelerated our product innovation efforts to drive future growth and initiated significant cost reduction efforts, in particular in Zone EMENA and at our Corporate Center.

As we look towards the second half of 2018, we expect further improvement in our organic revenue growth. Margin improvement is expected to accelerate with further benefits from our efficiency programs and more favorable commodity pricing.”

2017 figures have been restated to reflect:

the implementation of IFRS 15 – Revenue from the contract with customers, IFRS 16 – Leases and IFRIC 23 – Uncertainty over income tax treatments as well as other accounting policies and presentation changes; and
the change in the organization of infant nutrition business. Effective January 1, 2018, Nestlé Nutrition is reported in the Zones as a regionally managed business, with Gerber Life Insurance business reported in Other Businesses.

Group Sales

Organic growth of 2.8% in the first half was in line with our expectations and within our guidance for 2018. RIG was 2.5% and remained at the high end of the food and beverage industry. Pricing contributed 0.3%, reflecting the challenging environment in Europe and lower inflation in some emerging markets. Organic growth in the first half improved materially in North America and China. All categories reported positive growth, led by coffee, pet care, and Nestlé Health Science. Infant nutrition sales growth accelerated, with a broad-based improvement across all geographies, helped by recent product launches, including HMOs (Human Milk Oligosaccharides) infant formula.

Acquisitions and divestments had a net neutral impact on reported sales, with the acquisition of Atrium Innovations and other deals being offset by divestments, mainly U.S. confectionery. Foreign exchange had a negative impact of 0.5%. Total sales increased by 2.3% on a reported basis to CHF 43.9 billion.
Underlying Trading Operating Profit

Underlying trading operating profit increased by 3.5% to CHF 7.1 billion. The underlying trading operating profit margin increased by 20 basis points in constant currency, and by 20 basis points on a reported basis to 16.1%.

Margin expansion was supported by operational efficiencies and successful execution of ongoing restructuring initiatives. These cost savings were partially offset by higher commodity and packaging costs of CHF 90 million, amounting to a 20 basis point headwind. Distribution costs also increased.

The underlying trading operating profit margin is expected to improve further in the second half of the year, driven by further benefits from efficiency programs and more favorable commodity prices.

Restructuring expenditure and net other trading items increased by CHF 323 million to CHF 672 million. As a consequence, trading operating profit decreased by 1.3% to CHF 6.4 billion and the trading operating profit margin decreased by 50 basis points on a reported basis to 14.6%.
Net Profit and Earnings Per Share

Net profit increased by 19.0% to CHF 5.8 billion and earnings per share increased by 21.4% to CHF1.92. The increase was mainly the result of income from the disposal of businesses, lower taxes and improved operating performance.

Underlying earnings per share increased by 9.2% in constant currency and by 10.4% on a reported basis to CHF 1.86. Nestlé’s share buyback program contributed 1.5% to the underlying earnings per share increase, net of finance costs.
Cash Flow

Free cash flow increased by 52%, from CHF 1.9 billion to CHF 2.9 billion. This was mainly driven by an improvement in working capital, lower taxes and increased operating profit.
Portfolio Management

Nestlé has made further progress to actively evolve the portfolio towards high-growth, high-margin categories and brands.

On May 7, 2018, an agreement was announced granting Nestlé the perpetual rights to market Starbucks consumer and foodservice products globally, outside of Starbucks coffee shops. As part of this transaction, Starbucks will receive an up-front cash payment of USD 7.15 billion for a business which generated annual sales of USD 2 billion. The agreement is now expected to close at the end of August 2018.

The process of exploring strategic options for the Gerber Life Insurance business is on track with completion expected in 2018.
Zone Americas (AMS)

1.0% organic growth: 1.0% RIG; 0.0% pricing.
North America saw positive organic growth in the first half, with increased momentum in the United States. Both RIG and pricing were positive.
Latin America reported positive RIG and organic growth. Pricing was negative but increased significantly in the second quarter.
The underlying trading operating profit margin increased by 30 basis points to 18.9%.
Organic growth was 1.0%, driven entirely by RIG with flat pricing. Net divestments reduced sales by 1.0%, largely related to the divestment of the U.S. confectionery business. Foreign exchange had a negative impact on sales of 3.6%. Reported sales in Zone AMS decreased by 3.6% to CHF 14.2 billion.

North America saw positive organic growth and pricing in the first half. RIG improved materially in the United States and Canada versus last year. There was solid growth in Purina Petcare, Coffee-mate creamers and coffee, particularly in e-commerce. Hot Pockets and pizza, particularly DiGiorno, also made positive contributions.

Latin America delivered positive organic growth but slowed compared to the prior year. In Brazil, a nationwide strike by truckers in May disrupted operations and distribution and reduced Zone growth by around 80 basis points in the second quarter. Mexico maintained mid-single-digit organic growth, with strong support from Nescafé. There was also good momentum in other parts of Latin America.

The Zone’s underlying trading operating profit margin improved by 30 basis points, as ongoing restructuring projects reduced structural costs. Operational efficiency savings more than offset cost increases from commodity and freight inflation, as well as foreign exchange.
Zone Europe, Middle-East and North Africa (EMENA)

2.5% organic growth: 3.1% RIG, -0.6% pricing.
Western Europe returned to positive organic growth in the second quarter. RIG accelerated, offsetting negative pricing.
Central and Eastern Europe posted mid-single-digit growth, with strong RIG. Pricing was negative.
The Middle East and North Africa saw mid-single-digit organic growth, both RIG and pricing were positive.
The underlying trading operating profit margin grew by 70 basis points to 18.9%.
Organic growth increased to 2.5%. RIG was strong at 3.1% following an acceleration in the second quarter. This more than offsets negative pricing. Net divestments reduced sales by 0.2%. Foreign exchange had a positive impact of 4.1%. Reported sales increased by 6.4% to CHF 9.3 billion.

Zone EMENA saw positive growth across most geographies and categories. Petcare, coffee, and nutrition were the main contributors. Petcare maintained strong momentum, based on the success of Felix in Russia. Coffee also saw good growth with stronger RIG, supported by the relaunch of Nescafé Gold. Nutrition and dairy performed well in Central and Eastern Europe, and the Middle East and North Africa. Confectionery saw improved growth, particularly in the United Kingdom. New product launches included KitKat Ruby and MilkyBar Wowsomes, a new chocolate bar with 30% less sugar based on Nestlé’s breakthrough natural structured sugar.

The Zone’s underlying trading operating profit margin increased by 70 basis points, supported by operational efficiencies, structural cost savings, and lower commodity costs. Strong RIG also led to better capacity utilization and operating leverage.
Zone Asia, Oceania and sub-Saharan Africa (AOA)

4.4% organic growth: 3.7% RIG; 0.7% pricing.
China saw mid-single-digit growth, improving versus last year. RIG and pricing were both positive.
South-East Asia posted mid-single-digit growth with a balanced contribution from RIG and pricing.
South Asia saw mid-single-digit organic growth, with good RIG and flat pricing.
Sub-Saharan Africa posted high single-digit growth, with solid RIG and positive pricing.
Japan and Oceania markets were flat, with robust RIG offset by negative pricing.
The underlying trading operating profit margin decreased by 20 basis points to 22.9%.
Organic growth was 4.4%, with RIG of 3.7% and pricing of 0.7%. Net divestments and foreign exchange reduced sales by 0.1% and 0.8%, respectively. Reported sales increased by 3.5% to CHF10.6 billion.

Zone AOA delivered mid-single-digit growth, with positive contributions from most geographies and categories. First-half organic growth in China accelerated, with strong momentum in coffee, culinary, and in e-commerce. South-East Asia delivered solid results with strong contributions from Vietnam and Indonesia, especially Milo. Mid-single-digit growth in South Asia was supported by innovation and renovation, particularly for Maggi, KitKat and Nescafé. Sub-Saharan Africa saw high single-digit growth, even as inflation-driven pricing slowed versus last year. Japan and Oceania were flat, with positive RIG offset by negative pricing in a deflationary environment. Nutrition saw improved sales momentum in most markets.

The Zone’s underlying trading operating profit margin remained strong and highly accretive to the group. The decrease of 20 basis points was due to the phasing of certain cost items.
Nestlé Waters

1.0% organic growth: -0.7% RIG; 1.7% pricing.
North America saw positive growth. Pricing increased and RIG improved in the second quarter, driven by the launch of the sparkling range.
Europe had slightly negative growth, reflecting weak RIG and slightly positive pricing.
Emerging markets were flat, impacted by negative organic sales development in China and Brazil.
The underlying trading operating profit margin decreased by 270 basis points to 10.0% following higher commodity and distribution costs.
Organic growth for the first half was 1.0% following a sequential improvement in the second quarter, driven largely by North America. RIG declined by 0.7%, mainly due to Europe and some emerging markets. Pricing increased to 1.7%. Net divestments and foreign exchange reduced reported sales by 0.8% and 0.7%, respectively. Reported sales in Nestlé Waters decreased by 0.5% to CHF 4.0 billion.

In the United States, price increases were implemented in June to reflect significant inflation in packaging and distribution costs. The launch of the sparkling range under our regional spring water brands (Poland Spring, Deer Park, Zephyrhills, Ozarka, Ice Mountain and Arrowhead) made a positive contribution to our growth. Europe saw slightly negative organic growth, reflecting difficult comparables. Emerging markets were flat, impacted by negative sales development in China and the pending divestment of the business in Brazil. The international premium brands, S.Pellegrino and Perrier, continued to deliver good growth.

The underlying trading operating profit margin decreased by 270 basis points as higher costs related to PET packaging and distribution were not yet compensated by price increases.
Other Businesses

5.7% organic growth: 5.4% RIG; 0.3% pricing.
Nespresso maintained mid-single-digit organic growth, with strong momentum in North America and Asia.
Nestlé Health Science delivered mid-single-digit organic growth, with strong RIG.
Nestlé Skin Health saw mid-single-digit growth, with positive RIG but negative pricing.
The underlying trading operating profit margin increased by 160 basis points to 16.4%.
Organic growth of 5.7% was based on strong RIG of 5.4% and pricing of 0.3%. Net acquisitions increased reported sales by 4.9%, mainly due to the consolidation of Atrium Innovations into Nestlé Health Science from March 2018. Foreign exchange also had a positive 1.4% impact. Reported sales in Other Businesses increased by 12.0% to CHF 5.9 billion.

Nespresso maintained mid-single-digit growth. The Americas and Asia saw strong growth and Western Europe was resilient in a context of increasing competitive pressure. Growth was supported by the continued progress of the Vertuo system roll-out and boutique expansion. Nestlé Health Science saw mid-single-digit growth, with good growth in Medical Nutrition. The acquisition of Atrium Innovations provided additional momentum in the second quarter, with strong demand for its non-GMO, organic and natural product offerings. Nestlé Skin Health had mid-single-digit growth but pricing was negative.

The underlying trading operating profit margin increased by 160 basis points. This was mainly driven by an improvement in Nestlé Skin Health and Nespresso.
Outlook

Full-year guidance for 2018 confirmed, with organic sales growth expectation, narrowed to around 3%; underlying trading operating profit margin improvement in line with our 2020 target. Restructuring costs1 are expected at around CHF 700 million. Underlying earnings per share in constant currency and capital efficiency are expected to increase.

1Not including impairment of fixed assets, litigation, and onerous contracts
Annex

*2017 figures have been restated to reflect:

the implementation of IFRS 15 – Revenue from the contract with customers, IFRS 16 – Leases and IFRIC 23 – Uncertainty over income tax treatments as well as other accounting policies and presentation changes; and
the change in the organization of infant nutrition business. Effective January 1, 2018, Nestlé Nutrition is reported in the Zones as a regionally managed business, with Gerber Life Insurance business reported in Other Businesses.

SOURCE: https://brandspurng.com/nestle-reports-half-year-results-for-2018/

The Government of Ogun State has empowered 3,000 rural women with 30,000 Boiler chicken in Ijebu-Ode, Ilaro, and Abeokuta, in the second phase of its Noiler Empowerment Programme.

The State Deputy Governor, Mrs. Yetunde Onanuga, who disclosed this at a programme across the three Senatorial Districts in the State, said the initiative was to improve the capacity of women, especially the rural ones.

She further disclosed that the government embarked on the second phase after the success of the first phase in April, where 1,000 women were empowered with 10,000 broiler chicken.

Onanuga, therefore, urged the women to key into various agricultural programs specifically designed for them in the State, adding that the empowerment programme is an opportunity to improve the protein of their families and in the long run, add to the food security in the state.

Meanwhile, the State Commissioner for Agriculture, Mrs. Peju Adebajo said the seven weeks old broiler birds distributed was a cross breed between Broiler and Layers, which makes them stronger and easier to rear just like the local breeds.

SOURCE: https://brandspurng.com/ogun-empowers-3000-women-in-poultry-farming/

The National Bureau of Statistics (NBS) has said that the average price paid by consumers for premium motor spirit (petrol) decreased by -1.5% year-on-year and -1.4% month-on-month to N148.1 in June 2018 from N150.2 in May 2018.
The NBS revealed this in its Premium Motor Spirit (Petrol) Price Watch (June 2018)
The report stated that states with the highest average price of premium motor spirit (petrol) were Borno (N162.17), Kebbi (N158.24) & Sokoto (N154.20), while states with the lowest average price of premium motor spirit (petrol) were Lagos (N144.90), Abuja (N144.50) & Oyo (N144.30).

Based on a zonal analysis, the North East recorded the highest price average per liter at N150.41. South West recorded the lowest price average (per liter) at N145.52.

Read: NIGERIA IMPORTED 6.81BN LITRES OF PETROLEUM PRODUCTS IN Q1 2018 – NBS
The National Bureau of Statistics (NBS) also disclosed that federal Nigerian National Petroleum Cooperation (NNPC) imported 5.67 bln litres of premium motor spirits (PMS), 954.47 mln litres of automotive gas oil (AGO), 66.914 mln litres of household kerosene (HHK) and 5122.067 mln litres of aviation turbine kerosene (ATK) into the country in Q1 2018.
Bringing total petroleum products imported in the first quarter of 2018 to 6,813,784,945 liters.


SOURCE: https://brandspurng.com/lagos-abuja-oyo-paid-lowest-for-petrol-in-june-nbs-infographics/

Solid operations underline decent result



DANGCEM released its H1’18 result, reporting a 3% y/y PAT growth to ₦113 billion vs. our ₦123 billion estimates. The earnings growth was supported by strong Nigerian and Pan African operations, with Group EBITDA rising 21% y/y to ₦246 billion ahead of our ₦226 billion estimate – translating to a 51% margin vs 49% in H1’17. EBITDA was particularly strong in the Nigeria operation, rising 19% y/y to ₦227 billion, supported by healthy cement prices (following a price hike in April) and continued improvement in fuel efficiency. The region’s EBITDA was however 3% weaker q/q, following a mini-surge in operating costs in the quarter, with EBITDA margin consequently falling 80bps q/q though remaining strong at 65.5% (H1’18: 65.9%). Operations in the Pan African business also remained strong within the period, with EBITDA rising 32% y/y to ₦26 billion. Similarly, the region’s EBITDA was 2% weaker q/q, taking EBITDA margin 80bps lower q/q to 18.3% (H1’18: 18.7%). Meanwhile, Net finance costs rose 89% y/y to ₦15 billion (Vetiva: ₦6 billion), weakened by a ₦15 billion FX loss in Q2’18 from Pan African operations that use the CFA as a functional currency. Overall, PAT rose 3% y/y, weakened by a higher effective tax rate of 39% (H1’17: 29%, Vetiva: 31%).

Strong demand sustains impressive topline

Cement demand strengthened in Nigeria, with volumes rising 14% y/y to 7.81 million MT in H1’18 (Q2’18: 3.84 million MT, Q1’18: 3.97 million MT, Vetiva: 3.77 million MT). Combined with higher prices, topline rose 18% y/y in Nigeria to ₦344 billion. Revenue from Pan African Operations also rose 11% y/y, despite a 4% y/y drop in cement volume to 4.57 million MT (Q2’18: 2.33 million MT, Q1’18: 2.24 million MT, Vetiva: 2.64 million MT). We understand that Revenue was boosted by higher cement prices across certain regions and translation gains from stronger currencies. However, volumes remained under pressure, mainly due to weak output from Ethiopia (sustained civil unrest), Tanzania (shut down operations from Feb-May for maintenance and due to high costs) and Ghana (operations halted pending the completion of Dangote jetty). We understand, however, that operations are back up in Ethiopia amid relative stability and expect Tanzanian operations to pick up following the delivery of gas gensets (expected in August). Exports to Ghana are however expected to resume anytime from Q4’18 when sea-based exports would be operational. Overall, Group revenue rose 17% y/y to ₦482 billion (Vetiva: ₦481 billion), supported by a 7% y/y rise in volumes to 12.36 million MT (Vetiva: 12.61 million MT).

Positive outlook maintained despite the mild miss in H1

Following better than expected volume rollout in H1’18, we revise our Nigeria volumes estimate to 15.4 million MT (Previous: 15.3 million MT) for the year. With management hinting at no plans to change prices any time soon, we estimate an FY’18 Revenue of ₦685 billion (Previous: ₦681 billion). Meanwhile, we note the sustained downtime across certain Pan African operations and thus, revise our FY’18 volume expectation to 10.8 million MT from 11.2 million MT. However, after adjusting for the impact of FX movements, we reduce revenue mildly to ₦273 billion (Previous: ₦279 billion). Overall, we cut our volume forecast for the Group to 26.2 million MT (Previous: 26.5 million MT) and our FY’18 revenue estimate to ₦958 billion (Previous: ₦960 billion). We also adjusted our FY’18 cost estimates to reflect H1’18 run rate. Following this, we arrive at a reduced FY’18 Group EBITDA of ₦490 billion (Previous: ₦499 billion). Furthermore, we raised our interest
expense from ₦27 billion to ₦39 billion, after taking into account the FX losses in Q2 and the recently issued Commercial papers (Series 1: ₦12.04 billion at 12.40% PA, Series 2: ₦37.96 billion at 12.65% PA). We understand that the proceeds from the notes would be used to fund some local projects and improve working capital. After adjusting for tax, we revise our PAT to ₦243 billion. With a revised target price of ₦276.28 on the stock, we maintain our BUY rating.


SOURCE: https://brandspurng.com/dangote-cement-plc-on-track-for-a-strong-fy18-performance/

The rapid evolution of information and communication technologies (ICT) goes along with an increase in exposure to radiofrequency electromagnetic fields (RF-EMF) in our daily life. The most relevant exposure source to the brain is the use of a mobile phone close to the head. Several studies have been conducted to identify potential health effects related to RF-EMF, though results have remained inconclusive.

The research conducted by scientists at the Swiss Tropical and Public Health Institute (Swiss TPH) looked at the relationship between exposure to RF-EMF from wireless communication devices and memory performance in adolescents. The study follows up a report published in the scientific journal Environment International in 2015 with twice the sample size and more recent information on the absorption of RF-EMF in adolescents’ brains during different types of wireless communication device use. These are the world’s first epidemiological studies to estimate cumulative RF-EMF brain dose in adolescents.

Media usage and brain exposure in young adults

The study to be published on 19 July 2018 found that cumulative RF-EMF brain exposure from mobile phone use over one year may have a negative effect on the development of figural memory performance in adolescents, confirming prior results published in 2015. Figural memory is mainly located in the right brain hemisphere and association with RF-EMF was more pronounced in adolescents using the mobile phone on the right side of the head. “This may suggest that indeed RF-EMF absorbed by the brain is responsible for the observed associations,” said Martin Röösli, Head of Environmental Exposures and Health at Swiss TPH.

Other aspects of wireless communication use, such as sending text messages, playing games or browsing the Internet cause only marginal RF-EMF exposure to the brain and were not associated with the development of memory performance. “A unique feature of this study is the use of objectively collected mobile phone user data from mobile phone operators,” said Röösli. He emphasized that further research is needed to rule out the influence of other factors. “For instance, the study results could have been affected by puberty, which affects both mobile phone use and the participant’s cognitive and behavioural state.”

The data gathered from the Health Effects Related to Mobile phone use in adolescents (HERMES) cohort looked at the relationship between exposure to RF-EMF and development of memory performance of almost 700 adolescents over the course of one year. Participants, aged 12 to 17 years, were recruited from 7th to 9th public school grades in urban and rural areas of Swiss-German-speaking Switzerland.

Minimising the risk of RF-EMF exposure

The potential effect of RF-EMF exposure to the brain is a relatively new field of scientific inquiry. “It is not yet clear how RF-EMF could potentially affect brain processes or how relevant our findings are in the long-term,” said Röösli. “Potential risks to the brain can be minimised by using headphones or the loudspeaker while calling, in particular when network quality is low and the mobile phone is f

SOURCE: https://brandspurng.com/mobile-phone-radiation-may-affect-memory-performance-in-adolescents-study/

Despite the high unemployment rate in the country, experts say people should consider many factors before saying ‘yes’ to an employment offer, SIMON EJEMBI writes.

The unemployment rate in the country is quite high. This means that millions of people are out there searching for jobs; a development concerned stakeholders describe as troubling.

The implication is that whenever there a job vacancy is announced, thousands of people apply. So, it is no surprise to see people giving testimonies and celebrating job offers.

In the excitement that follows such an offer, many people fail to ask the right questions and before long they find themselves on the hunt for a new or better job.

Human resource experts say it is important for people to consider many things and ask questions before taking up a job in any organisations. Some of those questions are discussed below.

Is the offer accurate?

It is common to see people complaining that their employees have not fulfilled promises made to them. But when their employment letters are scrutinised those promises are often not stated. One of the important things to check before accepting a job offer is that the promises made in the course of the interview or salary negotiation are documented. Verbal promises often do not add up to anything, especially in the case of litigation. Promises or offers regarding vacation, promotion, exit requirements, etc have to be properly documented.

Is the pay good enough?

This, for many people, is the main issue. HR experts, however, say such things as the work environment may even matter more. Nonetheless, when offered a job, it is important that you determine whether the pay is good enough. Is it enough to keep you motivated and to allow you function effectively? Can it pay your bills? Experts say to determine whether the pay is good enough, it is important for people to determine what their skill is worth.

The Head, Talent Intelligence Group, Workforce Management Centre, Mr. Akindele Afolabi, says, “Before you go for any job interview, you have to decide your ideal salary expectation, the realistic salary and your minimum threshold.”

He said this way you know when to say no to an offer. To determine the minimum threshold, he explains that it is important to consider the physical requirement – things like transportation and feeding.”

Many people have failed to do this and accepted offers only to realise that the package is not good enough.

What are the benefits of working there?

While it is very important to review the salary being offered, it is also important to understand what it means to work for an organisation. Are there other benefits? Experts say when the benefits of working with some companies are evaluated they may amount to even more than their salaries. Some companies organise training programmes for their workers at great expenses. These programmes cost hundreds of thousands of people who have to enrol privately. Some companies have health insurance schemes for their workers and their families. Some people who work in hotels, for instance, say they hardly get to spend money on food. All these need to be considered before a job offer is accepted or rejected. If the nature of your job means you do not have to worry about medical bills, cost of feeding or transport fare, then you should be able to put less emphasis on your salary.

Is the location okay?

It takes some people two hours or more to get to their offices. This is not ideal. According to experts, in accepting a job offer the location has to be considered. If you live far from your place of work, you are bound to spend a lot of money every month to get to work; this will diminish the amount you are left with to pay your bills. That is apart from the stress of being on the road, probably stuck in traffic, for hours and the man hours you will lose. Compared to your peers who live close to the office, you are likely to be less productive and punctual and you will be exposed to more financial pressure.

What is the work environment like?

You also need to consider the work environment before accepting an offer. What kind of people are you going to be working with? Some work environments are more suited to extroverts, some to introverts. Similarly, some work environments will require you to have impeccable human relations skill as you will be dealing with a lot of people, while some just need you to get in, get the job done, and get out.

Have you thought about whether you will fit into the environment? Are you sure you won’t end up spending your whole day avoiding people and giving thanks once it’s time to go home? Many people have quit jobs just because of the nature of the environment. “The job was boring”, “My colleagues were too withdrawn” and “The environment was not conducive”, are among that some people have to give for quitting their jobs.

Is there a clear job description?

Does your offer letter clearly specify what you will be signing up for once you accept the offer? Do you know what is expected of you – what you are expected to do daily? Many people do not. According to experts, the accepted a job offer based on their understanding of what a public relations officer is expected to do – according to the textbooks. They don’t bother to find out what it means to be a PRO in that particular organisation. So, by the time they are asked to run an unusual errand, they may end up saying, “This is not what I signed up for.”

Experts say it is important to understand what the organisation wants from you and to have that expectation documented.

It is equally important to be clear on such things as work schedule. This is more so for people with children and many other responsibilities or activities outside their jobs. By having a clear schedule and job description it is easier to plan.

The Chief Executive Officer, ReQit Limited, Mr Ken Okolo, says this is part of the questions people should ask when it comes to taking up a job offer.

“Can I say, for instance, that if I work for XYZ company, I will be able to have a good work-life balance and my retirement package is certain?”

How about the career prospects?

Another important question is about the prospects you have working for that organisation. Some organisations are notorious for failing to promote people when due. Some have no clear career path at all, leaving workers clueless as to what they have to do to get a promotion. In addition to know what is required of you, you need to know what it would take for you to rise to the top in whatever organisation you are about to take up a job with.

You should also consider policies regarding health insurance, vacation, illness, bonuses, training, further education, retirement age, growth, travel allowances, job security, among others.

SOURCE: https://brandspurng.com/questions-to-ask-before-accepting-a-job-offer-2/

Good one.

FrieslandCampina, the Netherlands based Dutch multinational has pledged to invest about US$12.78 million in a “ready-to-drink project, using 100% locally sourced milk.”

According to the Beverage Industry news, the dairy cooperative will enhance continuous training for dairy farmers, and provision of fortified milk for school pupils.

The commitments were made in a joint announcement with the company’s Dutch counterpart, Heineken who also committed to increasing their investments in the country.

On the other hand, Heineken, the maker of Heineken lager beer said the company was planning to use renewable energy for its power needs.

Mr. Roland Pirmez, Regional President, Heineken Africa, Middle East and Eastern Europe commended the government for stability in the exchange rate for the past six to eight months.

Speaking during a meeting with CEOs from Dutch firms in his visit to The Hague, Netherlands, Nigeria’s President Muhammadu Buhari said, “…. stability was the first thing in our campaigns.

You have to secure a country first before you can effectively manage it.

Before businesses can thrive, security is paramount, that is why we lay so much emphasis on securing the country.

“After security, our next emphasis is reviving the economy, and then, fighting corruption.”

Buhari urged the businesses to build factories in Nigeria and use local raw materials instead of wholesale imports adding that he was impressed with the economic cooperation between Nigeria and Netherlands.

FrieslandCampina through its consumer products arm FrieslandCampina WAMCO Nigeria Plc announced in 2015 that it was investing at least US$23.23m into their operation in the country especially to support its dairy market.

As Heineken moved to expand into one of the world’s fastest-growing beer market, it bought a controlling stake in five breweries in Nigeria from Sona Group, raising its market share in the continent.

SOURCE: https://brandspurng.com/frieslandcampina-to-invest-us12-7m-in-nigeria-use-100-locally-sourced-milk/

MTN Group’s sale of its Cyprus unit could be the start of a broader exit from small or problematic markets, with the Liberian unit leading a number of West African divisions being considered for disposal. So said Bloomberg, citing people familiar with the matter. Two people who asked not to be identified said the MTN group considers its businesses in Liberia, Guinea, and Guinea-Bissau as ones it could do without.

The review is being led by CEO Rob Shuter, who said in March he planned to evaluate whether the company needs a presence in all 33 markets in which it operates. There was no immediate response from MTN to market speculation, reported Bloomberg.

MTN announced the sale of its Cypriot unit to French billionaire Xavier Niel’s Monaco Telecom on 16 July for about EUR 260 million, the first country exit in the company’s 24-year history. Cyprus had the lowest number of subscribers of all MTN’s markets at the end March, though Liberia and Guinea-Bissau were close. The only other MTN country division with fewer than 1 million customers in South Sudan, which has been engulfed in a civil war since 2013.

The sale of smaller markets could be laying the ground for an attempt to break into Angola, one of the people told Bloomberg. There are plans to sell a minority stake in state-owned telecommunications provider Angola Telecom and hold an auction for a fourth industry operator. Meanwhile, the Ethiopian government is planning to sell parts of the state-owned telecommunications company to foreign investors, opening the door to a market long coveted by MTN and rival Vodacom Group, said Bloomberg.

SOURCE: https://brandspurng.com/mtn-considers-sale-of-some-west-african-divisions-report/

Stanbic IBTC’s status as a leading employer brand has again been reaffirmed as the financial institution won an unprecedented five of nine awards at the HR People Magazine Awards 2018 held recently in Lagos.

The five awards won by Stanbic IBTC are: Best Training, Learning & Development Strategy 2017; Outstanding Employee Engagement Strategy 2017; Employer of Choice 2017 (large corporates category); HR Manager of the Year 2017; and HR Champion of the Year 2017 (awarded to the Group Chief Executive for outstanding commitment to growing people at the organization).
L-R: Head, Human Resources Shared Services, Lafarge Africa Plc, Oluwakemi Akinsinde, presenting an award to Head, Corporate and Transactional Banking, Human Capital Business Partners, Tope Popoola; Head, Learning and Development, Godwin Akpong, both of Stanbic IBTC receiving the award on behalf of Stanbic IBTC during the 2018 Human Resources Practitioners Awards ceremony held in Lagos recently…

HR People Magazine, organizers of the awards, is the foremost magazine dedicated to the human resources and people development profession in Nigeria and Africa at large. According to the organizers, the awards are evidence-based, and the criteria used to select winners include a demonstrable and effective strategy to drive the HR touchpoints in all the award categories, ability to show consistent best practice implementation within the organization, evidence-based programs and the impact of these programs on the organization. Specific emphasis on; employee retention, client testimonials and organization’s reputation throughout the business and wider community, employee engagement and productivity levels; among other criteria. The performance was judged over the period covering January 2017 through to December 2017.


Chief Executive, Stanbic IBTC Holdings PLC, Mr. Yinka Sanni, stated that winning five awards is a testament to Stanbic IBTC’s strategy of growing a responsible, disciplined, and highly productive workforce. It also reinforces the company’s strong management, systems and its leadership in the financial services industry.

According to Sanni, the awards are a testament to Stanbic IBTC’s continuous investments in its human capital and the establishment of people-friendly procedures and practices, as well as a professional but friendly work environment and a support structure that helps to motivate the employees to give their best while exhibiting their talents.

“We are delighted to be recognized in five different categories out of nine for our strong human capital strategies and deliberate and consistent investments in our people. For us, a highly motivated workforce, one that can deliver better services, is a function of the level of investment in the human capital for professional and personal development that helps to create a productive workforce whilst fulfilling individual career aspirations,” Sanni said. “These awards will energize us to continue to fine-tune our strategies and provide our people with the right environment, the right tools and adequate incentives to win their commitment as well as grow our people,” Sanni added.

Speaking on the rationale for the awards, Editor-in-Chief of HR People Magazine, Dapo Saheed, said the awards were instituted to celebrate individuals and organizations that have invested in their workforces and are committed to strategies that help to engender best practices in HR and efficient business outcomes. “These accolades were instituted to reward companies and HR managers who have strategies in place to engender a work-life harmony. They prioritize Human Capital as essential to delivering superior value to stakeholders and this is reflective in people-related investments, processes, policies, and practices put in place.”

Stanbic IBTC had similarly been recognized by the Chartered Institute of Personnel Management (CIPM), the principal HR body in Nigeria, for its exceptional people strategy. In 2016 and 2017, Stanbic IBTC won CIPM’s Overall Best HR Practices in Corporate Nigeria. Other awards won by Stanbic IBTC’s Human Capital team are: CIPM 2017 HR Optimization Award as the Best Employee Engagement & Internal Communication Initiative; CIPM 2017 HR Best Practice Awards (Banking & Finance Category); HealthMeetings.Org’s 2017 Special Award for Outstanding Investment in Employee Health; and HR People Magazine Award for Outstanding Talent Strategy 2016.

Head, Human Capital, Stanbic IBTC, Mrs. Funke Amobi, thanked HR People Magazine for the recognition, even as she assured that the organization will not rest on its oars in ensuring a productive and motivated workforce.

Stanbic IBTC Holdings PLC is a full-service financial services group with a clear focus on three main business pillars – Corporate and Investment Banking, Personal and Business Banking and Wealth Management. Stanbic IBTC belongs to the Standard Bank Group, the largest African financial institution by assets and market capitalization. It is rooted in Africa with strategic representation in 20 countries on the African continent. Standard Bank has been in operation for 155 years and is focused on building first-class, on-the-ground financial services institutions in chosen countries in Africa; and connecting selected emerging markets to Africa by applying sector expertise, particularly in natural resources, power, and infrastructure.

L– R: Head, Learning and Development, Godwin Akpong; Head, Human Capital Services, Wale Aina; Manager, Employee Relations, Tosin Finnih; Head, Personal and Business Banking, Human Capital Business Partners, Ezinne Anosike; Head, Reward Performance Management & Recognition, Wunmi Ehis-Uzenabor; and Head, Resourcing & Talent Management, Carol Olayi, all of Stanbic IBTC during the 2018 Human Resources Practitioners Awards ceremony held in Lagos recently…

SOURCE: https://brandspurng.com/hr-people-magazine-awards-2018-stanbic-ibtc-wins-5-hc-awards-reaffirmed-as-leading-employer-brand/

Justice Hassan of the Federal High Court sitting in Ikoyi, Lagos, has given his ruling on the copyright infringement suit against Samsung Electronics West Africa Limited (“Samsung”) and Ringier Media Nigeria limited (“Ringier Media”) by Eagle Eye Production Limited (“Eagle Eye”).

The Abuja-based production company had filed a N65 million lawsuit against Samsung for allegedly using a part of its ‘Lekki-Ikoyi Link Bridge at Night’ video in a Galaxy S8 advert without authorization.

Samsung had, after receiving the lawsuit, claimed it had no knowledge of the creative process of the ad, as it outsourced the job to one Cheil Communications Nigeria Limited. Cheil Communications, in turn, claimed it outsourced the job to Ringier Media Nigeria Limited.

At the first hearing on the lawsuit on May 3, 2018, Ringier Media’s Counsel applied to strike out the suit, claiming that the court lacked jurisdiction to entertain the suit because Eagle Eye in suing Ringier Media omitted the word ‘media’ in its name. Ringier Media also argued that the suit did not disclose a reasonable cause of action against it.

Eagle Eye Counsel, Mrs. Abimbola Akeredolu (SAN) however, prayed the court to dismiss Ringier Media’s application with substantial cost on the basis that the omission of the word media from Ringier Media’s name is “a misnomer” and that the suit disclosed a reasonable cause of action against Ringier Media.

The learned Silk also pointed out that the omission of the word “media” was in fact caused by Ringier Media and its counsel who in various correspondences exchanged prior to the suit represented to Eagle Eye’s counsel that the full name of Ringier Media is Ringier Nigeria Limited instead of Ringer Media Nigeria Limited.

The learned Silk also pointed out that Ringer Media’s counsel also described its client’s name as Ringier Nigeria Limited in the conditional memorandum of appearance filed by the said counsel on Ringier Media’s behalf.

On the same day, Eagle Eye’s Counsel also moved an application to amend their Writ of Summons and other accompanying originating processes to reflect the proper name of Ringier Media.

Court proceedings were witnessed by a Newsroom correspondent when Justice Hassan gave his ruling on Monday, June 2, 2018. On Ringer Media’s application to strike out the suit, the learned judge held on the first leg, that the omission can be treated as a misnomer and representatives for the plaintiffs are allowed to file an application for amendment.

“There is no kind of mistake or error which the court cannot correct, except it is intended to cause injustice to a party. The omission can be corrected without causing injustice to the other party,” he ruled.

The Learned judge also held on the second leg, that looking at certain paragraphs in Eagle Eye’s Statement of Claim, the court is satisfied that a reasonable cause of action has been disclosed against Ringier Media.

The learned judge thereafter dismissed Ringier Media’s application and awarded the cost of N20,000 in favor of the Plaintiffs against Ringier Media.

On Eagle Eye Production’s application to amend, the learned judge ruled that representatives for Eagle EyeProduction Limited were misled by Ringier Media. He made references to the exhibits submitted by the legal counsel for the Eagle Eye, where it was established that Ringier Media Nigeria Limited described itself only as Ringier Nigeria in various correspondences. Thus, the learned judge reiterated as follows:

“As stated earlier, there is no mistake or error which the court cannot correct, except it is intended to cause injustice to the second party,” Justice Hassan ruled.

“The omission of the word ‘media’ is a misnomer which can be corrected without causing injustice to the second defendant.”

The Learned judge awarded another N20,000 sum in favor of the plaintiffs against Ringier Media Nigeria Limited. Eagle Eye Production counsel in court, Miss Adeola Agunbiade, prayed the court for further dates for hearing.

Justice Hassan adjourned the matter to October 11, 2018, for the mention.


SOURCE: https://brandspurng.com/samsung-enmeshed-in-n65m-copyright-infringement-lawsuit-in-nigeria/

Data from an e-payment channels report in a series from the NBS, produced in collaboration with the CBN, reveal that 457 million transactions valued at N32trn were recorded on the channels in Q1 2018.

ATM transactions dominated with a volume of 212 million. Electronic transactions are directly linked to internet subscriptions, which stood at 101 million as at end-Q1 according to the Nigerian Communications Commission (the regulator). This translates into a penetration rate of 55%.

Point-of-sale (PoS) transactions assist with checking the impact of the cashless policy on the economy. The NBS data show that 54 million PoS transactions were recorded in Q1 2018, representing increases of 13% q/q and 101% y/y. The recorded growth is commendable, but such transactions accounted for only 12% of total electronic payments during the quarter under review.
Mobile payments recorded 15 million transactions valued at N329bn (US$1.07bn) in Q1. The value of transactions grew by just 21% y/y and accounted for only 3.3% of total electronic transactions.
Meanwhile, there was increased patronage of m-cash (a mobile payments solution designed specifically for merchants). Transactions rose sharply by 225% q/q and over 1,000% on a y/y basis. We stress that this payment system accounts for less than 1% of electronic payments. Perhaps the authorities could explore incentives that would encourage increased m-cash usage by traders, especially in the rural economy.

Sources: National Bureau of Statistics (NBS); FBNQuest Capital Research

Based on official data, the financial exclusion rate for Nigeria is 42%. Therefore, only about 100 million Nigerians are within the inclusion net. However, if we consider only those individuals within the formal banking system, this figure slips significantly.
One solution would be to create a tailored version of Kenya’s M-Pesa. service. However, this would require better synergy between telecommunications operators and banks.


SOURCE: https://brandspurng.com/nigeria-still-has-a-long-way-to-go-in-becoming-a-cashless-society/

Ok

welcomed development

When you are close with your coworkers and have lunch together daily or hang out outside of the office, it’s easy for the lines between personal and professional to disappear. Even if you’re not good friends, it’s normal to want to chat about things other than work projects with your co-worker or co-worker(s). But there are some things that are always better left unsaid.

Read: 10 Things To Never Say To Your Boss

Below are some of them:

Your job search

Some people get so comfortable with their colleagues and even their boss that they will share their desire to move onto something else with exactly the wrong people. The thing is, no matter how much your boss likes you, if you leave, you will be replaced. Same goes for your colleagues. Don’t tell co-workers that you are looking for a new job either.

Your political opinions

Political topics can be polarizing and no matter how friendly you are with your co-workers, you should never assume that someone shares the same viewpoints as you. Political points of views are usually associated with stereotypes and are always highly emotional. As such, it should be avoided at all costs,” she adds.

Gossip about your boss or any coworkers

If you wouldn’t say it to your boss’s face, don’t say it behind your boss’s back. You may think that you are just airing your grievances with another coworker who shares your frustration about how the boss handles things, but you could be unpleasantly surprised to learn that this coworker is friendly with the boss and will happily tell everything that you shared.

Jokes about sensitive subject matters

As much time as you spend together, you may not know everything your coworkers are dealing with in their personal or professional lives. It’s advisable not to joke about a sensitive subject matter.

Complaints

Even if you’re not complaining about work, being someone who complains will give you a bad reputation in the office.  You will appear as untrustworthy because if you talk negatively about one co-worker you’ll probably talk negatively about other people, too.

Take your career to the next level

If you’re the kind of person who knows when to speak up, and when to stay quiet, you might be ready for the next step in your career. At any rate, it’s always a good habit to keep your ears and eyes open to new opportunities.

 

Written by: Damilola Faustino

SOURCE: https://brandspurng.com/things-you-should-never-share-at-work/

Next to a home, buying a car is one of the most important financial commitments you could ever make. There are many factors to consider when getting a car: the brand, the model, the pricing, tear rubber or tokunbo, and of course the payment plan. The interest paid back on loans should make anyone cautious about using a loan to purchase a car. But, the allure of that new car might find you filling out the next available loan form. Is a car really worth getting into debt for?

Before you answer that, we know a car is important! The average urban Nigerian spends a lot of time commuting. The Punch Newspaper says that the average Lagosian could spend up to a quarter of a day on the road. If you are going to spend so much time in traffic, you might as well do so in the comfort of your own car. So, let’s examine your options.

Consumer Debt:

Taking on consumer debt is simply put, double spending. In the case of a car, you have to pay back the loan as well as maintain the car. Your monthly expenses will increase significantly after taking a car loan.

There are cases where people purchased a car with a loan, only to have the car sit at home because there wasn’t enough money to fuel it. God forbid, one Danfo should then bash the car when you haven’t finished paying for it. Gbese!

A Loan You Cannot Afford:

There is an income verification process involved in getting a car loan. Many people find ways around this and end up with a loan they simply can’t afford. If you do apply for a loan, please ensure you do not take one beyond your reach. It’s a double-edged sword.

So, what can you do instead of taking a car loan?

You might be thinking, “I just want my own car. Saving on my current income would take me 4 years to buy the car I want. Meanwhile, taking a taxi is inflating my budget.”

Well, let’s switch to the ‘buying with cash’ lane and see where that leads.

1. Define your Car Needs:

Properly define what you need from a car. Even if you live in a high-class city like Abuja, don’t neglect the fact that the main purpose of a car is to get you from point A to point B. Thinking of the cash you’re going to spend, should help you narrow down your needs.

2. Budget and Plan:

How much do you earn and how much is the car you want? Once you assess your car needs, you can come up with an ideal budget to match. When you have a clear budget, you will be faced with three options to raise the money: cut down expenses, increase income or do both.

3. Save! Save! Save!

Yes, save! However, don’t use a regular savings account. Instead, check out Investment One’s Abacus Money Market Fund, which offers higher interest rates on your savings with your principal guaranteed. This product from Investment One is especially suited for long-term savings and would be ideal for your car goal.

4. Your Fully Owned Car

With your successful savings plan and interest earned, you are now ready to purchase your car!

So, wouldn’t you rather save towards your next car?

SOURCE: https://brandspurng.com/why-you-should-never-take-a-loan-to-buy-a-new-car-and-what-you-can-do-instead/

The Development Bank of Nigeria (DBN) is gearing up to provide N5 billion to 20,000 Small and Medium Enterprises (SMEs), its Managing Director, Tony Okpanachi, has said.

He said the lending started last November with loans to three of the largest microfinance banks in the country.

“DBN management is taking this phenomenal responsibility very seriously and we are determined to ensure that serious entrepreneurs get the support they need to grow so that the positive impact is felt in their businesses and the economy as a whole,” he said.

On repayment terms for DBN loans, Okpanachi said the institution will “provide funds for up to 10 years in terms of actual repayment period but when necessary we also provide a moratorium of up to 18 months”.

He said DBN loan cuts across all sectors. “Our mandate and operations seek to achieve the Nigerian Sustainable Banking Principles (NSBP) of the Central Bank of Nigeria (CBN), where financial inclusion ranks high, as well as the United Nations Sustainable Development Goals and are in line with the Economic Recovery and Growth Plan of the Federal Government of Nigeria,” he said.

He said another step taken by the bank was the recent shortlisting of seven banks for loan disbursement to entrepreneurs across the country who meet the requirements.

The initial banks whose number is expected to be boosted by others, being processed include commercial banks – Wema, Ecobank, Sterling, Diamond, Fidelity, UBA, and FCMB.

SOURCE: https://brandspurng.com/development-bank-of-nigeria-to-offer-n5b-loans-to-20000-smes/

interesting

fact

interesting

New Centre to empower thousands of youths, students

Airtel Nigeria says it has commenced plans to rehabilitate an ICT (Information Communications Technology) center in Imodi-Ijebu, Ogun State, in line with its commitment to empower Nigerian youths.

In the fifth episode of the on-going Airtel Touching Lives (ATL) Season 4, representatives of the telco met with community leaders of Imodi-Ijebu to discuss how the company will support, empower and up-skill youths in the area, leveraging on ICT.

Executive Chairman of Ifesowapo Imodi LCDA, Honourable Obafemi Onakoya, thanked Airtel for its commitment to touching lives and helping youths in the community, noting that he is positive that the new ICT center will positively impact the youth and also accelerate learning and economic growth.

“In Ifesowapo Community, we have over 25,000 people with 70 percent as youths and students. We believe that the impact of an ICT center will be huge on the youths and the people of the community in general. It will improve their social and economic activities, influence research and enhance knowledge”, he said.

Some of the students of the community also believe the ICT Centre provided by Airtel will help reduce poverty, enhance knowledge and empower the younger generation.

“As a youth in the Imodi-Ijebu community, we are faced with different challenges because we do not have access to the internet. Most times, we have to travel out of the community to access the Internet and to complete assignments given to us at school. With the new ICT center, things will definitely get better,” Oluwatoyin James Mary, a community youth said.

Sodiq Oluwasegun, a student in the community noted that “If we are not opportune to get an ICT center in our community, this town and the neighboring village will be lagging behind. Other cities that have an ICT Centre are already congested and having one to ourselves will make us truly happy and fulfilled. I am really excited that Airtel has come to our aid.”

Airtel’s intervention will include refurbishing the existing ICT structure in the community, provision of computers, scanners, copiers and a generator.

Episode 6 of the TV programme would be shown on Africa Magic Urban from 6:30 – 7:00 pm; on Arewa 24 TV from 7:00 – 7:30 pm and on Africa Magic Family from 8:00 – 8:30 pm all on Sunday, 15th July 2018.

Through the Touching Lives revolutionary CSR programme, Airtel has been promoting the spirit of giving, self-sacrifice, and love among Nigerians.

SOURCE: https://brandspurng.com/airtel-commissions-ict-centre-in-imodi-ijebu-ogun-state/

There are five common motives that impact the type of job you should have…

Ever have to psych yourself up to go to work? If that’s the case more often than not, your job might not align with your personal motives, says Carter Cast, author of The Right (and Wrong) Stuff: How Brilliant Careers are Made and Unmade.

Strengths are your natural skillsets, and motives are the place from which you draw energy, says Cast. They differ from values, which are what’s important to you. “If you ask someone what their values are, they can rattle them off quickly,” he says. “Motives are much harder to identify because we’re often not conscious of them. They’re the river that flows under us.”

A mismatch in job and motives will wear you down and eventually cause you to fail to live up to your potential, says Cast. “Currently, the assumption is that if you took this job, it’s the right job for you,” says Cast. “But people who are smart, don’t have a skill gap, and are good interpersonally will underperform if they don’t have the energy for the position.”

While employers often assess and measure for competency and strengths, they most likely don’t assess how energized you are by the job. Understanding your motives falls on employees, who need to determine if the job fits, says Cast. Based on the work of Hay Group and Harvard psychologist David McClelland, he identified five common motives, and how they impact the type of job you should seek:

ACHIEVEMENT

Achievement is the need to constantly improve your performance and accomplish goals that are meaningful to you. If you’re highly motivated by achievement, you prefer working in environments with clear performance indicators and tangible progress that can be seen on an ongoing basis, says Cast. You seek feedback in order to improve and advance, and set clear goals, organizing your work effort and measuring your progress.

AFFILIATION

Affiliation is a need for maintaining close, friendly relationships with others, such as in team situations. If you’re highly motivated by affiliation, you’re a team player who is a good listener and sensitive to perspectives of others. You enjoy building team spirit to accomplish goals. Your boss often considers you to be a good barometer for the cultural climate of the team or department and utilizes your inclusive nature to further develop the team’s sense of fellowship.

POWER

Power involves the need to have influence over others. It can be expressed personally or institutionally. People-oriented toward personal power generally seek status and recognition and try to control others, while those with an institutional power drive try to organize the efforts of a team to further the company’s goals. At your best, the power motive pushes you to empower others and move toward accomplishing group goals.

AUTONOMY

Autonomy is the need to control your own work and determine its direction. You prefer having discretion over the task you do, the time you do it, the methods you use, and the team with which you work. Having a motive of autonomy doesn’t necessarily mean you’ll do everything yourself; it can simply mean that you can are able to structure your work.

PURPOSE

The purpose is the need to do work that is tied to a higher cause. You choose organizations and assignments that connect your work to social good that aligns with an important personal value. You are drawn to a place where the purpose is bigger than the product, a place that uses its resources and profits to offer assistance to those in need.

MAKE SURE YOUR MOTIVES MATCH YOUR JOB

To find a good match, list a job’s activities. Give each a green, yellow, or red light–green meaning you enjoy doing it, red meaning you don’t, and yellow meaning you’re ambivalent. Be deliberate and reflective. If you give 70% a green light, 20% a yellow, and 10% a red, the job is a match to your motives, says Cast. Your job should be aligned with your motive structure.

You will likely have more than one motive. Successful management consultants, for example, are typically high in the achievement and power motives and lower in the affiliation motive. Entrepreneurial founders usually have a high achievement motive, and are often motivated by a sense of purpose, as well, says Cast.

Cast suffered his own personal mismatch when he was tapped to be the CEO of Walmart.com. “My interest has always been being a good marketer, and I love to be close to the product,” he says. “The job was offered to me because my boss thought I had leadership qualities. My motives, however, are high on achievement and high on autonomy.”

An important component to being a CEO is having a high power motive, and Cast says that’s a motive where he’s low. “You have to be able to influence other people and wield that power to cajole people into doing what you needed them to do,” he says.

While Cast performed his duties, he was exhausted all of the time. “In hindsight, I realized that just because you can do a job doesn’t mean you should do a job,” he says. “I bought into the progression of my career; it seemed like the next logical step to grab the brass ring.”

By better understanding your drives and motives, you can work your way into positions that match your inherent needs, says Cast. “When you find those positions, the chances are good that you’ll perform well,” he says.

This article appeared first in fastcompany.com

SOURCE: https://brandspurng.com/how-to-figure-out-if-youre-in-the-wrong-job/

Leading Information and Communications Technology company, MTN Nigeria, recently, empowered 100 women from the Police Officers Wives’ Association (POWA), Lagos State chapter. The women who were elated with the gesture were handed mobile stalls to sell products – airtime and data virtually through the use of digital gadgets.

As part of the empowerment programme, MTN also beautified the POWA market corridor in Falomo, Ikoyi.

Representing the Commissioner of Environment, Lagos State at the tape-cutting ceremony was the General Manager of Lagos State Parks and Gardens, Bilikiss Adebiyi- Abiola, who commented; “We are glad that MTN is making conscious effort to give back to the community and also beautify Lagos through the renovation of the POWA Shopping Complex Corridor here in Ikoyi and we are glad that Lagos State is gradually becoming a greener and healthier environment”.

Also speaking at the event was the Sales and Distribution Executive, MTN Nigeria, Adekunle Adebiyi, who said; “ We’re really excited to unveil the new POWA corridor as this project has been a long time coming. We’d like to thank the Ministry of Environment for giving us the approval and opportunity to do this. We’re also excited to have impacted the lives of members of the POWA association ”.

The highpoint of the event was the presentation of empowerment materials, which included, phones, POS devices, chairs, tables, umbrellas and digital tablets, to the beneficiaries and the commissioning of the renovated POWA secretariat.

This empowerment and renovation is part of MTN Nigeria’s commitment to continually brighten the lives of their customers across the nation.

SOURCE: https://brandspurng.com/mtn-brightens-the-lives-of-100-powa-women-in-lagos/