₦airaland Forum

The Consumer Price Index (CPI), which measures inflation, further decreased to 11.31 per cent (year-on-year) in February compared to 11.37 per cent in January, according to the National Bureau of Statistics (NBS).

Increases were recorded in all COICOP divisions that yielded the Headline index.

On a month-on-month basis, the Headline index increased by 0.73 percent in February 2019, this is 0.01 percent rate lower than the rate recorded in January 2019 (0.74) percent.

The percentage change in the average composite CPI for the twelve months period ending February 2019 over the average of the CPI for the previous twelve months period was 11.56 percent, showing 0.24 percent point from 11.80 percent recorded in January 2019.

The urban inflation rate increased by 11.59 percent (year-on-year) in February 2019 from 11.66 percent recorded in January 2019, while the rural inflation rate increased by 11.05 percent in February 2019 from 11.11 percent in January 2019.

On a month-on-month basis, the urban index rose by 0.76 percent in February 2019, down by 0.01 from 0.77 percent recorded in January 2019, while the rural index also rose by 0.71 percent in February 2019, same rate as was recorded in January 2019 (0.71) percent.

The corresponding twelve-month year-on-year average percentage change for the urban index is 11.95 percent in February 2019. This is less than 12.20 percent reported in January 2019, while the corresponding rural inflation rate in February 2019 is 11.23 percent compared to 11.46 percent recorded in January 2019.

Food Index

The composite food index rose by 13.47 percent in February 2019 compared to 13.51 percent in January 2019.

This rise in the food index was caused by increases in prices of Fish, Bread and cereals, Potatoes, yam and other tubers, Meat, Vegetables, Oils and fats and Fruits

On a month-on-month basis, the food sub-index increased by 0.82 percent in February 2019, down by 0.01 percent points from 0.83 percent recorded in January 2019.

The average annual rate of change of the Food sub-index for the twelve-month period ending February 2019 over the previous twelve-month average was 13.62 percent, 0.31 percent points from the average annual rate of change recorded in January 2019 (13.93) percent.

All Items Less Farm Produce

The ‘’All items less farm produce’’ or Core inflation, which excludes the prices of volatile agricultural produce stood at 9.8 percent in February 2019, down by 0.1 percent when compared with 9.9 percent recorded in January 2019.

On a month-on-month basis, the core sub-index increased by 0.65 percent in February 2019. This was down by 0.16 percent when compared with 0.81 percent recorded in January 2019.

The highest increases were recorded in prices of Tobacco, repair and hire of footwear, Major household appliances, Domestic services and household services, Dental services, Medical and hospital services, Cleaning, repair and hire of clothing.

The average 12-month annual rate of change of the index was 10.19 percent for the twelve-month period ending February 2019; this is 0.15 percent points lower than 10.34 percent recorded in January 2019.

State Profiles

In analysing price movements under this section, note that the CPI is weighted by consumption expenditure patterns which differ across states. Accordingly, the weight assigned to a particular food or non-food item may differ from state to state making interstate comparisons of consumption basket inadvisable and potentially misleading.

All Items Inflation

In February 2019, all items inflation on year on year basis was highest in Kebbi (13.78%),Taraba (13.57%) and Kaduna (13.54%), while Cross River (9.81%) Delta (9.60%) and Kwara (9.36%) recorded the slowest rise in headline Year on Year inflation.

On month on month basis however, February 2019 all items inflation was highest in Taraba (1.87%), Ogun (1.83%), and Imo (1.62%), while Jigawa recorded the slowest rise (0.13%), with Delta and Kogi recording negative inflation or price deflation (general decrease in the general price level of goods and services or a negative inflation rate) in February 2019.

Food Inflation

In February 2019, food inflation on a year on year basis was highest in Nasarawa (16.78%), Taraba (16.76%) and Abuja (16.29%), while Kogi (11.68%), Delta (11.51%) and Abia (10.81%) recorded the slowest rise in food inflation.

On month on month basis however, February 2019 food inflation was highest in Taraba (2.95%), Ogun (2.73%) and Nasarawa (2.42%), while Benue, Delta, Kogi and Ondo all recorded food price deflation or negative inflation (general decrease in the general price level of goods and services or a negative inflation rate) in February 2019.

SOURCE: https://brandspurng.com/2019/03/15/nigerias-inflation-decreases-to-11-31-percent/

Leading telecommunications services provider, Airtel Nigeria, has announced a new number range, 0901, in line with its vision to empower more people as well as create opportunities for more Nigerians to succeed.

Airtel says the new 0901 number range, which brings its burgeoning numbering series scheme to eight, will offer more Nigerians an opportunity to experience seamless telephony/mobile Internet service on an innovative and affordable network with expansive 4G coverage.

Commenting on the development, Chief Commercial Officer, Airtel Nigeria, Dinesh Balsingh, said Airtel is positioned as the network of the first choice for voice calls and mobile Internet and the introduction of a new number series is an affirmation that it enjoys the confidence and support of many telecoms consumers across the country.

“Airtel is pleased to expand its number range to accommodate more telecoms consumers who desire exceptional telephony and mobile Internet experience as well as affordability and new innovation.

“With the new 0901 number range, we are inviting more telecoms consumers to come to experience the best and widest 4G and digital experience,” he said.

Aside from the 0901 number range, Airtel currently has the following numbering series: 0802, 0808, 0708, 0812, 0701, 0902, and 0907.

Airtel Networks Limited is a leading telecommunications services provider in Nigeria headquartered in Lagos, the commercial nerve-centre of Nigeria. The telco ranks amongst the top four mobile service providers in terms of subscribers.

Airtel’s parent company, Bharti Airtel Limited is a leading global telecommunications company with operations in 14 countries across Asia and Africa.

SOURCE: https://brandspurng.com/2019/03/14/airtel-nigeria-unveils-new-number-range-0901/

According to the Central Bank of Kenya, the High Court of Kenya has ruled that the loan rate cap is unconstitutional. In a case filed by Boniface Oduor against the Attorney General and Central Bank of Kenya, Boniface challenged some procedural elements of the implementation of the rate cap law, arguing that it should have been discussed by the Senate.

The rate cap law will still be effective for a period of 12 months. In the ruling, the loan rate cap law was declared null and void but, to avoid disruption in the market, the court suspended the effect of the ruling for 12 months. This means loan yields over the next 12 months will still be subject to the limit of 400bps above the central bank rate.

The National Assembly remains the key decision maker. The court was not convinced that interest rate capping falls within the purview of monetary policy and was, therefore, solely a central bank issue. It noted that the National Assembly is still within its constitutional rights to set an interest rate ceiling. Following this ruling, the law must then go back to parliament to correct the procedural issues raised. Effectively, the National Assembly could still retain the law as is and simply correct the procedural issues. There have not yet been any change of sentiment from legislators regarding removing the loan rate cap law. We believe they would consider an amendment, but not an outright repeal.

Perfect timing for Kuria’s rate cap amendment proposal. In January, legislator Moses Kuria (member of parliament for Gatundu South) wrote a letter to the speaker of the National Assembly announcing his intention to table a bill to amend the rate cap. The bill has not yet been tabled in parliament, but this ruling gives Kuria the perfect opportunity to do so.

His proposal is as follows:

- Low-risk clients would continue to see a rate of a maximum of 400bps above the central bank rate. This would keep their loan yields at a maximum of 13%.
- A “negotiation window” of up to 600bps above the cap would be introduced for SMEs and unsecured individuals, implying loan yields of up to 19%.

SOURCE: https://brandspurng.com/2019/03/14/kenya-loan-rate-cap-declared-unconstitutional/

2019 ALREADY LOOKING LIKE A GREAT YEAR FOR BURNA BOY, AS STAR LAGER UNVEILS NEW COMMERCIAL

On Thursday, the 14th of March 2019, Burna Boy unveiled his new commercial with Star Lager Beer.

The commercial which is themed “come to the brighter side” shows the life of Burna Boy as a music superstar, seeing him in various elements; during a photo shoot and at a bar. The ad is also accompanied by a jingle composed and performed by Burna Boy.

As part of his role as the new ambassador of Star, the new campaign will also see Burna feature in the billboard ads.

Burna Boy has continued his remarkable success of 2018, releasing a new track — Dangote which has enjoyed massive airplay and widespread acclaim.

His unveil as Star’s first brand ambassador early this year, culminated a remarkable 12 months for the Afro-pop star in which had released the critically acclaimed “Outside” album as well as headline his own concert. Following these achievements, Burna has been touring Europe for his “Giant of Africa” concert, all whilst continuing to deliver great new music.

Speaking after the unveiling of the ad, Burna expressed his delight in Starring in his first commercial,

“I have never been much of an actor, so even though the cameras were on, what you see in this ad is me just being myself and celebrating the brighter side with Star. I’m thrilled to be part of the Star family and I can’t wait to partner with Star to create more magic and delight my fans.”

Burna Boy’s association with Star was unveiled on the 28th of January, 2019 at a private event in Lagos. This landmark relationship between Star and Burna will see him become the face of the brand, representing the brand across various forms of media.

Currently, Burna Boy is considered one of the biggest artists from Africa with impressive streaming numbers across Spotify, Apple music, Deezer and Youtube, making him one of the most bankable music superstars of his generation.

SOURCE: https://brandspurng.com/2019/03/14/2019-already-looking-like-a-great-year-for-burna-boy-as-star-lager-unveils-new-commercial/

After losing $192m (170m euros) in 2018 and facing difficulties in raising additional funds from its current investors, e-commerce giant Jumia is heading to the stock market in order to keep the business afloat.

Jumia is presently putting together an Initial Public Offer (IPO) in New York this year which will reportedly see the business valued at $1.5 billion.

However, reports indicate that some of its current investors are set to divest their stake in the business after it emerged that the MTN Group, Jumia’s biggest shareholder, is looking to raise up to $600 million from the sale of its shares during the IPO.

In addition to mounting losses – Jumia posted a €120.1m loss in 2017 – questions also remain over its Africa-wide strategy after the company cited challenges such as a robbery at its Kenyan warehouse, which saw merchandise worth $560,000 stolen.

In documents filed in New York, Jumia has also declared that it could not guarantee to achieve or to sustain profitability in the future.

Interestingly, Konga, another strong player in the Nigerian e-commerce market, is also set for a major listing on the New York Stock Exchange (NYSE) by the last quarter of 2020.

Although yet to confirmed by the management of Konga who, when contacted, disclosed that it will speak when the time is right, confidential sources within the New York bourse have it that the Konga Group is set for an initial public offering that will see the e-Commerce giant valued at about $3.2b.

Mark Jessey, a prominent stock analyst on NYSE had noted that the proposed Konga IPO is a much sought-after one by investors, many of whom have followed within the last eight months the huge strides and trajectory of the business which came under new ownership after the exit of previous majority investors, Naspers and AB Kinnevik.

“There have been significant investments in critical areas of the Konga Group business portfolio including the omnichannel strategy it pioneered, strong physical presence with a growing chain of retail stores, multiple warehouse facilities, a licensed mobile money/fintech platform and a credible logistics arm with which it has solved the problem of delivery.

“These factors have made Konga the pride of potential investors and there is renewed confidence that Konga can re-write the history of e-Commerce in Nigeria and on the African continent,” he concluded.

SOURCE: https://brandspurng.com/2019/03/14/jumia-loses-192m-heads-to-stock-market-for-survival/

The Lagos State Task Force has ordered owners/operators of commercial motorbikes, ‘Gokada’ and ‘Maxokada’ to direct their riders to comply with the Lagos State Road Traffic Laws of 2012, just as it impounded 23 motorbikes on restricted routes and arrested 10 riders.

The Chairman of the Agency, CSP Olayinka Egbeyemi disclosed this during enforcement operations on motorcyclists operating on restricted routes as well as those driving against one-way traffic around Ikeja, Ojota and Maryland.

CSP Egbeyemi stated that out of 115 motorcycles impounded during the enforcement operations 22 were of ‘Gokada and Maxokada’, adding their violation of traffic regulations by the motorcycle operators is illegal as they do not have valid documentation backing their operations in the State.

He reiterated that in accordance with the law no commercial motorcycle operator is allowed to operate around 475 restricted routes including highways and bridges across the State, saying “the government enjoins members of the public to henceforth desist from patronising commercial motorcyclists on all restricted routes as passengers are also liable to prosecution”.

“It was an eye-sore seeing operator of these newly branded commercial motorcycles (Gokada / Maxokada) struggling with motorists for the right of way on our highways and bridges across the State”, he asserted.

The Chairman revealed that the Lagos State Commissioner of Police, CP Zubairu Muazu has directed the immediate prosecution of the arrested riders.

SOURCE: https://brandspurng.com/2019/03/13/lasg-orders-gokada-maxokada-to-comply-with-traffic-regulations/

The provisional Balance of Payments (BOP) estimates for Q4 2018 showed a significant improvement in the BOP outcome as the overall balance of payments recorded a surplus of US$2.80 million compared to a huge deficit of US$4,542.08 million and a surplus of US$6,180.40 million recorded in the preceding quarter and corresponding period of 2017, respectively. The current account balance (CAB) improved from a deficit of US$1,544.41 million in Q3 2018 to a surplus of US$1,104.57 million in Q4 2018. The financial account balance indicated a net acquisition of financial assets of US$2,327.91 million in the review period as against net incurrence of financial liabilities of US$4,615.17 million recorded in the preceding period.

Current Account Balance

The current account indicated a positive outcome during the review period, recording a surplus of US$1,104.57 million as against a deficit of US$1,544.41 million and a surplus of US$3,657.18 million in the previous quarter and the corresponding period of 2017, respectively. This development was largely attributable to the decrease in imports and payments on income (net).

Goods Account

The surplus in the Goods Account increased significantly to US$6,793.60 million in Q4 2018 from surpluses of US$3,759.88 million in the preceding quarter and US$5,472.74 million recorded in the corresponding period of 2017 (Table 1, chart 2). Export earnings rose by 2.8 per cent to US$16,655.49 million in Q4 2018 when compared with Q3 2018. It also indicated an increase of about 27.6 per cent when compared to the corresponding Period of 2017. Earnings from crude oil and gas, which accounted for 93.8 per cent of total export earnings during the review period, increased by 2.1 per cent to US$15,620.90 million in Q4 2018 when compared with the preceding quarter.

Earnings from non-oil and electricity exports increased by 15.0 per cent to US$1034.59 million in Q4 2018 when compared with the preceding quarter.

Available data showed that payments for import of goods (fob) to the economy in the review period decreased significantly by 20.7 per cent to US$9,861.89 million below the level recorded in the preceding quarter. This was largely as a result of 19.9 per cent decrease in the imports of non-oil products.

Services, Income and Current Transfers

Net out-payments for services during the review period increased by 16.5 per cent to a deficit of US$8,287.57 million when compared with the level recorded in Q3 2018. When compared with the corresponding period of 2017, it indicated a much higher increase of about 76.9 per cent. However, the deficit in the income account (net) decreased by 10.8 per cent to US$3,713.84 million in the review period from a deficit of US$4,161.76 million recorded in the preceding quarter. When compared with the level in the corresponding period of 2017 it indicated an increase of about 24.5 per cent. The surplus in the current transfers (net) increased by 5.7 per cent to US$6,312.39 million in Q4 2018 when compared with the preceding quarter. However, the level of the surplus was 7.8 per cent higher than the level recorded in the corresponding period of 2017.

Financial Account

Provisional Q4 2018 BOP estimates for the Financial Account showed a overturn from net incurrence of financial liabilities of US$4,615.17 million recorded in Q3 2018 to net acquisition of financial assets of US$2327.91 million in the review period. This is also significantly lower than the net acquisition of financial assets of US$3,528.62 million recorded in the corresponding period of 2017.

Direct, Portfolio and Other Investments

Direct Investments inflow decreased by 28.3 per cent to US$314.44 million when compared with the preceding quarter of 2018. It, however, indicated a decline of 67.2 per cent when compared to the corresponding period of 2017. Portfolio Investments inflow to the economy decreased significantly to US$1,382.40 million in Q4 2018 from US$1,790.83 million and US$3,787.16 million in the preceding quarter and the corresponding period of 2017, respectively. However, other investment liabilities increased to US$1,421.26 million when compared with a reversal of US$3,070.76 million recorded in the preceding quarter.

External Reserves

The stock of external reserves as at end-December 2018 stood at US$42,594.84million, indicating a depletion of 0.03 per cent when compared with the level in the preceding quarter. However, when compared with the corresponding period of 2017, it indicated an accretion of 8.2 per cent. The level of external reserves could finance approximately 13.0 months of imports, compared with 10.3 and 15.6 months of imports cover recorded in the preceding quarter and the corresponding period of 2017, respectively. These were, however, above the WAMZ and global benchmarks of 6 and 3 months, respectively.

SOURCE: https://brandspurng.com/2019/03/13/oil-sector-accounts-for-93-8-of-export-revenue-in-q4-2018-cbn/

The UK’s Civil Aviation Authority has banned the Boeing 737 MAX from operating in or over UK airspace “as a precautionary measure”.

The decision comes after an Ethiopian Airlines Boeing Max 8 crashed on Sunday, killing 157 people on board, the second fatal accident involving that model in less than five months

The UK joins Malaysia, Singapore, China and Australia, in banning the aircraft.

The CAA said the directive would remain in place until further notice.

Tui Airways and Norwegian both operate the Boeing Max 8 in the UK as part of their fleets.

“The UK Civil Aviation Authority has been closely monitoring the situation, however, as we do not currently have sufficient information from the flight data recorder we have, as a precautionary measure, issued instructions to stop any commercial passenger flights from any operator arriving, departing or overflying UK airspace,” a CAA statement said.

A Tui statement confirmed their 737 Max 8 aircraft were grounded following the CAA’s decision.

“Any customers due to fly home today on a 737 MAX 8 from their holiday will be flown back on another aircraft.

“Customers due to travel in the coming days will also travel on holiday as planned on other aircraft,” Tui said in a statement.

Which other countries are affected?

Singapore’s Changi Airport is the world’s sixth busiest and a major hub connecting Asia to Europe and the US.

But only a handful of airlines operate Max aircraft in and out of the country.

No Australian airlines operate the Boeing 737 Max, and only two foreign airlines – SilkAir and Fiji Airways – fly the model into the country.

Shane Carmody, who is in charge of aviation safety at Australia’s Civil Aviation Safety Authority, said the suspension would remain in place while the organisation awaited “for more information to review the safety risks”.

Several airlines and regulators around the world have already grounded the Max 8 model following the crash.

South Korea has asked Eastar Jet, the only airline in the country to own Max 8s, to ground its planes from Wednesday, while Malaysia has banned the jets from its airspace, according to the AFP news agency.

Singapore’s aviation authority said the affected airlines include SilkAir, which operates six Boeing 737 Max 8 aircraft, as well as China Southern Airlines, Garuda Indonesia, Shandong Airlines and Thai Lion Air.

In the US, the country’s Federal Aviation Administration (FAA) told airlines on Monday it believes Boeing’s 737 Max 8 model to be airworthy, despite the two fatal crashes.

Southwest, which has the largest fleet of 737s in the US, said it was offering customers booked on flights using the jet the chance to change their reservation, but would not be offering refunds.

Rival American Airlines said its “standard policies for changes still apply”.

What is a Boeing 737 Max aircraft?

The Boeing 737 Max fleet of aircraft is the latest in the company’s successful 737 line. The group includes Max 7, 8, 9 and 10 models.

By the end of January, Boeing had delivered 350 of the Max 8 model out of 5,011 orders. A small number of Max 9s are also operating.

The Max 7 and 10 models, not yet delivered, are due for roll-out in the next few years.

The Max 8 that crashed on Sunday was one of 30 ordered as part of Ethiopian Airlines’ expansion. It underwent a “rigorous first check maintenance” on 4 February, the airline said.

Following last October’s Lion Air crash in Indonesia, investigators said the pilots had appeared to struggle with an automated system designed to keep the plane from stalling, a new feature of the jet.

It is not yet clear whether the anti-stall system was the cause of Sunday’s crash. Aviation experts say other technical issues or human error cannot be discounted.

Eyewitnesses say they saw a trail of smoke, sparks and debris as the plane nose-dived.

What have US authorities said?

US aviation officials have said the 737 Max 8 is airworthy and that it is too early to reach any conclusions or take any action.

Boeing has confirmed that for the past few months it has been developing a “flight control software enhancement” for the aircraft.

Paul Hudson, the president of FlyersRights.org and a member of the FAA Aviation Rulemaking Advisory Committee, nonetheless called for the plane to be grounded.

“The FAA’s ‘wait and see’ attitude risks lives as well as the safety reputation of the US aviation industry,” Mr Hudson said in a statement on Monday.

SOURCE: https://brandspurng.com/2019/03/12/uk-singapore-australia-others-ban-use-of-boeing-737-max/

International Women’s Day (IWD) is observed each year on 8th March and it is a worldwide event that celebrates women’s achievements ranging from the politics to social while calling for gender equality in the world. NOIPolls joined the rest of world in celebrating the 2019 International Women’s Day which to recognize women who have succeeded in various leadership positions and have made extraordinary achievements in the nation’s building as well as impacting lives internationally. The theme for the 2019 IWD was “Think equal, build smart, innovate for change”. The theme focused on innovative ways in which gender equality can be advanced and the empowerment of women, particularly in the areas of social protection systems, access to public services and sustainable infrastructure.

In commemoration of the International Women’s Day, NOIPolls reflects on some critical findings from its past poll on gender equality which gauged general perception of Nigerians about gender inequality, especially in political representation. The poll which was conducted in March 2018 revealed that 91 percent of adult Nigerians admitted that there is a huge gap in gender equality especially in political representation in Nigeria, mainly due to cultural norms and religious beliefs (29 percent). It is very curial to re-emphasise that certain historic values shaped by societies, passed on from generations have over the years spelt out specific expectations from women in terms of attributes and behaviours such as the creation of gender-specific roles. This has led to the labelling of some jobs and/or roles as ‘women’s work’ and ‘men’s work’ both in the household and in the wider community such as in workplaces, as well as in leadership, governance and politics. Further findings from the poll revealed that most Nigerians (85 percent) acknowledged that women make great leaders and this affirmation cuts across gender, geopolitical zones and age-groups.

The chart below showed that the North-east (97 percent) and the North-west (95 percent) zones accounted for the largest proportion of Nigerians who believe there is gender inequality in the country. On the contrary, South-east (25 percent) accounted for the zone with the highest proportion of Nigerians who claim that there is equality in Nigeria.

More findings from the poll revealed that the majority of adult Nigerians (29 percent) who claimed that there is gender inequality affirmed that cultural norms and religious beliefs are the main causes of gender inequality. Also, 17 percent of the respondents stated that gender inequality is obvious in Nigeria because women are perceived to be weak and lack the capacity to lead amongst other reasons.

On the other hand, respondents who were of the opinion that there is gender equality gave reasons for their assertion and most of these respondents (37 percent) stated that there is gender equality because there are lots of women in politics in Nigeria. While 25 percent mentioned that women have the equal constitutional right to contest political positions, 16 percent stated that representation is by merit and not by gender.

In conclusion, the poll results revealed that there is a significant gap in gender equality in Nigeria as stated by 91 percent of the respondents across gender, age-groups and geopolitical zones majorly due to cultural norms and religious beliefs (29 percent). Considering the assertions made by Nigerians, it, therefore, calls for an urgent action to be taken in order to attain more women representation in the political sphere in Nigeria. For instance, the National Assembly should consider passing the Gender and Equal Opportunity Bill (GEOB) as this will greatly balance the gender gap currently existing in the Nigerian political sphere.

SOURCE: https://brandspurng.com/2019/03/12/culture-and-religion-greatest-barriers-for-nigerian-women-in-politics-report/

Whoever came up with the wise saying that Nigerian politics is dirty deserves an award for perspicacity. I have just returned from that dirtied, muddled up, confused, uncertain, the unpredictable zone of Nigerian life and society with truck-loads of stories in my head and enough impressions in my mind to last me another lifetime. As you may be aware, I was Deputy Governorship candidate of the People’s Democratic Party (PDP) in the just concluded 2019 general elections in Ogun State. It was quite an experience.

Before now, I had followed President Goodluck Jonathan to every nook and cranny of Nigeria during the 2015 Presidential campaign. I also served previously as a member of the Governing Council of Olabisi Onabanjo University (2003- 2007), member of the Board of Lagos State Security Trust Fund (2007 – 2011), and Official Presidential Spokesperson (2011 -2015). But I can tell you that the major lesson I have learnt in the last few months is that there is a serious difference between theory and practice in Nigerian politics. The reality of Nigerian politics puts a lie to what they teach us in Grad school, in all those seminars we attend across the world and what we experience as political appointees. Nigerian politics does not follow the rule book, the theories or what the book-makers say. This thing we call democracy, which Nigeria returned to in 1999, after mass protest and frustration with military rule, is not exactly the same democracy that they have in either the United Kingdom or the United States. Professional scholars of the subject may need to embark on a closer interrogation of a special sub-set called Nigerian democracy. Its features, post-1999, are unique.

I have before now written about the violence that we encountered. In one piece, I reported how we narrowly escaped death and killing in Sagamu and how our campaign vehicles were vandalized. We later took the matter to the police and the Magistrate Court. We are still in court. On another occasion, in Abeokuta, after visiting the Hausa community in Abeokuta North, some of our vehicles were again vandalized. I didn’t even bother to report the incident. By then, violence had become the new normal not just in Ogun State but across the country. With reports of persons being killed in Rivers state, gunshots in Lagos and mayhem in some other parts of the country, it would have been foolhardy to whine about broken vehicle windscreens.

But we eventually had our real taste of violence when we visited Itori in Ewekoro Local Government just two days before the election. We went to see the Olu of Itori and his chiefs and the people of Itori to solicit for support. It was like going to the Lion’s Den. We had a good meeting; everyone was civil. Indeed, everything went well until area boys took over the streets and started attacking the Oba’s palace with stones and other weapons. We were told to ignore them and the meeting went on, but as time passed and dusk descended, the same people who had told us not to bother started advising us to hurry up and leave the community. We learnt that Itori and the entire Ewekoro Local Government is Governor Ibikunle Amosun’s stronghold. The previous day, we were told, members of the All Progressives Congress (APC) were not even allowed to campaign in the community. They were chased away with a volley of bullets.

This time, we were better prepared. Our security men went after the Itori hoodlums. They chased them into streets and disarmed them. They also launched a rainfall of gunshots. The Itori boys ran when they faced superior firepower unleashed by a combination of policemen, Civil Defence forces, vigilante groups and the OPC. The Vigilante men were valiant. They dared the hoodlums. They overpowered them and seized their weapons. Axes and guns. One look at the kind of axes that had been arrayed against us, a decent person is likely to faint! We left that community surrounded by a combined team of courageous men who led us to safety. I thought I was somewhere in Syria. When I got home, I could not sleep. My feet were hurting as if someone had set them on fire. I had body ache. My heart was palpitating. It was as if someone was playing the rhythm of gunshots in my head. I had to ask Wale and Egunje to go and help me buy Lexotan tablets. When they got to the pharmacy, they were told that Lexotan is a prescription drug and that a doctor’s prescription would be required. I don’t know how they managed the situation, but they brought a tablet which helped to calm my nerves and I slept. At that point, I lost interest in the campaign. I kept seeing images of a shining axe. It was the kind of axe that would break any bone.

Decent and serious-minded persons would continue to avoid Nigerian politics if we do not curb the menace of violence. Should decent persons summon the courage to go into politics, they too may help to deepen the culture of violence in an attempt to protect themselves. The first thing a Nigerian politician considers is how to come out of the process alive. In this last elections, persons were killed in Rivers. Oyo State became a hotbed of reprisal killing. Properties were destroyed in Kano… Yakubu Mahmood, the Chairman of INEC is not in a position to say that he did a good job. On March 9, the people were so scared and disappointed, they didn’t even bother to turn out in large numbers. The international community is relieved that in spite of everything, Nigeria, West Africa’s most strategic country, did not implode. I get the impression that Nigerians themselves are calm because the worst that they expected did not happen. They are glad to still have a country.

I have also learnt that Nigerian politics is all about money. You can talk about poverty index on television and in writing and quote those figures from the usual sources, but when you go onto the field of politics, you are bound to confront the reality of the poverty that has turned the Nigerian electorate into an endless community of beggars and cynics. The tragedy of Nigeria is the impoverishment of the people and the total collapse of values and dignity. Everywhere I went, people begged for money. They were not interested in policy documents, or campaign leaflets or gift items. They just wanted cash, raw cash. I ran into hordes of young men who earn a living by belonging to neighbourhood gangs and cults. They are not interested in any talk about development and progress, many of them are college graduates, by the way, they just want money to buy “drink and smoke.”

The Nigerian political elite, the professional wing that is, has over the years destroyed this country. The political field is peopled by hypocrites who exploit people’s poverty. The people themselves have become dangerously cynical. When we campaigned on the streets and gave exercise books to mothers and their children, we were told: “Ko si owo, ko si ibo” – “no money, no vote.” Nobody was interested in exercise books! If people said as much as hello, they wanted you to pay for it. There were endless requests for mobilization fees, transformers, vehicles and all kinds of things. Two days to the election, the situation became almost unmanageable. I was asked to pick up bills at drinking joints. People stopped by and asked for money to “enjoy the rest of the evening”. Others came with requests for money to pay hospital fees, to take care of a newly born baby, to bury a relative, or to make a girlfriend happy. One political associate told me that every request was valid because as far as the Nigerian people are concerned, only a thief goes into politics and it is better to “take their own share” before the election.

The real problem with Nigerian democracy must be the people themselves. I don’t yet have the full picture in other parts of the country, other than Oyo State where the people seem to have voted according to their conscience. They taught Governor Abiola Ajimobi a lesson. They made it clear to him that careless talk is not a virtue in politics and that arrogance has serious consequences. But in some other parts of the country, like Ogun and Lagos states, money played a major role. The people collected money. They voted according to the size of their greed. If you don’t have money to throw away and close your eyes while doing so, maybe you should never venture into Nigerian politics as it is today. I get the impression that people do not trust their political leaders and politicians. There may be slight differences here and there in terms of this effective and cognitive immersion in the Nigerian political process, but for the most part, the people believe that all politicians are the same. I was shocked by the level and size of the cynicism that I saw.

Going forward, Nigeria must address the crisis of campaign funding and finance. One Governor went on radio to boast that he will spend N7 billion to impose his candidate of choice on a state. The monthly Internally Generated Revenue (IGR) of the state in question is N7 billion. Nobody has taken up the issue. Similar acts of brazen silliness have been reported across the country. Going forward, we also need to worry more about the leadership recruitment process. It must be possible for Nigerian democracy to accommodate and promote the best, those who are willing to serve, and who believe in Nigeria and higher causes.

I also learnt many lessons about the psychology of Nigerian politics. I re-discovered our people and environment. I got first-hand exposure to Nigerian politics, not as an observer-analyst but as a direct participant. I am better prepared for the future, and I have more than enough stories to tell. I want to thank Senator Buruji Kashamu for giving me the opportunity of this field experience and for his down-to-earth-ness, his sincerity, wisdom and the leadership that he provided. We fought hard in the courts to keep the ticket and we prevailed in the end. The PDP betrayed us up till the last minute but we are comforted that we stood for the truth and for justice. Senator Buruji Kashamu has since congratulated Prince Dapo Abiodun, the Ogun State Governor-elect. He has also visited him at home in Iperu-Remo. Dapo Abiodun has a duty and a responsibility to run an inclusive government that will address the interest of all the people of Ogun State. He should resist the temptation to be an Ijebu or APC Governor. I want to thank all the friends, family members and associates who supported me and stood by me. I am grateful to every member of our political family who devoted their time, energy and resources to the campaign. I also want to thank all the people who did their best to discourage me, and the professional trolls, haters and grumblers who have sent messages to mock me. I don’t feel discouraged. I believe Nigerian politics can be upgraded and rescued if we all summon the courage to get involved in it. We did not lose. We won in losing. That is the paradox of this experience and of the future that is to come.

If I felt any sense of loss at all, the morning after, it was in fact, the shocking report of the death of Pius Adesanmi, Professor of English and African Studies at Carleton University, Canada, in the ill-fated Boeing 737 Max 8 aircraft that crashed a few minutes after taking off from Bole International Airport in Addis Ababa, Ethiopia.

Pius was a member of our community, and he was one of the best and the brightest. He wielded a sparkling, lyrical and polemical pen which he deployed with the ease and confidence of a well-cultured intellectual. I was his fan. I enjoyed reading him because it was not difficult to see that his talent was original and that his intellect was solid and that the respect and admiration that he enjoyed was well deserved. He criticized me on many occasions but he was that kind of critic that left enough room for your dignity. I read many of his comments on my choices and interventions without feeling diminished. Why do bad things happen to good people? Why do flowers wither? Why Claude Ake? Why Pius Adesanmi? Ethiopian Airline has the best and the largest fleet in Africa. And now this… But who are we to question the Master Builder, the Great Architect Of The Universe who in one breath creates and in another breath, astounds us with the unexpected? Pius Adesanmi made his mark. If he were here, he would have had a lot more to say about the just concluded Nigerian elections. He was a significant public affairs commentator and a credible voice on all platforms. He was right: Nigeria remains, as he put it, “a nation in progress.” His death is a sad loss to the intellectual community.

SOURCE: https://brandspurng.com/2019/03/12/nigeria-2019-notes-from-the-field-by-reuben-abati/

Eighty-nine percent buyers consider the camera as the top specification while buying a smartphone, followed by battery life (87 percent), RAM (79 percent) and internal memory (72 percent), a new report by CyberMedia Research (CMR) said on Monday.

Buyers prefer experimentation over “brand pull” when it comes to smartphones as they become increasingly brand-agnostic, said CMR’s Mobile Industry Consumer Insight (MICI) survey.

The survey said their preferences are being driven by factors such as overall product quality (92 percent), product performance (90 percent), product aesthetics (82 percent) and reliable after-sales service, with fast turnaround time (76 percent).

“In a hyper-competitive market, marked by the smartphone sea of sameness, brands that invest in ensuring product quality and other softer aspects, win big.

“Indian consumers, especially post-millennials and Gen-Z are very demanding. For them, product design, quality, and overall value for money are of critical importance,” said Narinder Kumar, Lead Analyst-IIG, CMR, in a statement.

The survey was conducted across the top eight Indian cities in February 2019 and covered teens and youth between the age group of 15 to 30 from various backgrounds and income levels.

While Samsung, with its vast retail network, scored big on after-sales service, 89 percent respondents were found to be most loyal to Oppo, followed by Xiaomi and Realme.

“The CMR MICI survey results affirm the importance and passion that consumers invest in and associate with their smartphones. While bigger smartphone brands continue to hold onto their pockets of strength, it is interesting to see Realme outperform the competition,” said Satya Mohanty, Head-User Research Practice, CMR.

SOURCE: https://brandspurng.com/2019/03/11/89-smartphone-buyers-look-for-a-good-camera-report/

NSE STATEMENT ON THE LASG’S N4.85 BILLION, 15.75% SERIES 1, TRANCHE B, ENVIRONMENTAL NOTE (MUNICIPALITY NOTE)

The attention of The Nigerian Stock Exchange (The Exchange) has been drawn to certain media publications with respect to the Lagos State Government’s N4.85 Billion, 15.75% Series 1, Tranche B, Environmental Note (Municipality Note) and the alleged default in repayment of the coupon and principal on the Municipal Note due on Tuesday, 5 March 2019.


The Exchange is of the view these publications if not addressed has the likelihood of dampening investors’ confidence in the Nigerian capital market.

Information garnered by The Exchange in the wake of the media publications reflects that the Municipality Note was issued under a N50 Billion Medium Term Note Programme by Municipality Waste Management Contractors Limited, a privately owned company promoted by Visionscape Sanitations Solutions Limited.

We wish to inform the investing public and our stakeholders that the Municipality Note was not listed on The Nigerian Stock Exchange. As part of its regulatory oversight to safeguard investors in the Nigerian capital market, The Exchange takes steps to satisfy itself that the financial and other advisers have done due diligence on all financial instruments listed on The Exchange in order to ensure that the obligations attached to those instruments are met as and when due.

As part of the requirements for the issuance and the listing of similar debt instruments, The Exchange requires that a Guarantee on the revenue of the State Government is issued, in addition to approval of the State House of Assembly to back the Notes. The established requirements are necessary to ensure that the risk of default on such instruments when listed on The Exchange are reduced to the barest minimum.

Please be assured of The Exchange’s commitment to maintaining a fair, efficient and transparent market that guarantees the protection of investors’ rights.

SOURCE: https://brandspurng.com/2019/03/11/nse-statement-on-the-lasgs-n4-85-billion-15-75-series-1-tranche-b-environmental-note-municipality-note/

Telecoms data for Q3 and Q4 2018 reflected that a total of 172,824,239 and 162,032,481 subscribers were active on voice as against 162,522,772 in Q2 2018 which represented a 6.66% increase in subscribers base.

Similarly, a total of 112,065,740 and 106,420,858 subscribers were active on the internet as against 103,514,997 in Q2 2018 which represented 8.26% growth in subscribers base.

Lagos State has the highest number of subscribers in terms of active voice per State in Q4 2018 and closely followed by Ogun and Kano States respectively while Bayelsa and Ebonyi States have the least number of subscribers.

Similarly, Lagos State has the highest number of subscribers in terms of active internet per State in Q4 2018 and closely followed by Ogun and Kano States respectively while Bayelsa and Ebonyi States have the least number of subscribers.

MTN has the highest share of voice subscription and followed by GLO, AIRTEL, EMTS and Others respectively. Similarly, MTN has the highest share of internet subscription and followed by GLO, AIRTEL, EMTS and Others.

SOURCE: https://brandspurng.com/2019/03/11/active-internet-subscribers-grew-by-8-26-in-q4-2018-nbs/

Reports from the National Bureau of Statistics show Automated Teller Machine from banks across the country recorded transactions worth N39.15 trillion in the fourth quarter of 2018.

"A total volume of 616,528,697 transactions valued at N39.15trn was recorded in Q4 2018 as data on Electronic Payment Channels in the Nigeria Banking Sector revealed".

NIBSS Instant Payments (NIP) transactions dominated the volume of transactions recorded. 228,209,423 volume of NIP transactions valued at N23.57trn were recorded in Q4 2018.

In terms of credit to the private sector, the total value of credit allocated by the bank stood at N15.13trn as at Q4 2018. The NBS report also showed that the data showed that the Oil & Gas and Manufacturing sectors got credit allocation of N3.55trn and N2.23trn to record the highest credit allocation as at the period under review.

As at Q4, 2018, the total number of banks' staffs increased by 1.80% QoQ from 102,821in Q3 2018 to 104,669.

SOURCE: https://brandspurng.com/2019/02/21/atm-records-transactions-worth-n39-15trn-in-q4-2018/

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Mercedes-Benz continues to expand its compact car portfolio with the introduction of the A-Class Sedan, following suit with the likes of the A-Class, CLA & GLA. Mercedes-Benz’s compact car segment is already fast growing with the acquisition of new customer groups from different regions around the world. This has aided Weststar’s resolve to attract different customer groups in Nigeria who look to enjoy the best driving experience regardless of their automobile preferences.

Due to an increase in demand, the A-Class is for the first time also offered as a sedan. This follows up the successful launch of the new A-Class last year that pushed boundaries in major markets. The A-Class Sedan comes with a modern and superior sporty design, an unrivalled experience with MBUX, Intelligent Drive functions from the S-Class, a completely redefined interior design and optional eequipmentand appointments like KEYLESS-GO with HANDS-FREE ACCESS.

The exterior of the A-Class Sedan exudes a modern and a superior sporty design. The front end takes a very progressive look with the low, elongated bonnet, the slimline headlamps with chrome element, the torch-like daytime driving lights - plus the single-louvre diamond radiator grille with optional chrome pins, and the central star. The side mirrors sit on the beltline, while the 16 to 19-inch wheels and the pronounced wheel arches give the A-Class Sedan a sporty stance on the road. On the rear end there are two-part tail lamps that emphasizes width, the rear reflectors have been relocated to the modular two-part rear bumper and depending on the selected equipment, this rear bumper is available with a black diffuser or with chrome trim strip and chrome tailpipe tips. The MULTIBEAM LED headlamps are another highlight, they allow extremely quick and precise, electronically controlled adjustment of the headlamps to suit the current traffic situation. Each headlamp features 18 individually actuated LEDs.

The inside of the A-Class Sedan comes in a modern and avant-garde look emphasizing a revolution from within. The dashboard gets a completely new and avant-garde design, with a cowl above the cockpit and the wing-shaped main body of the dashboard extending from one front door to the other with no visual discontinuity. Also the optional Widescreen display is completely free-standing and the air vents come in a sporty turbine look. An optional equipment is the ambient lighting with 64 colours, it comes with even more variety as well as an emotive presence. The A-Class Sedan also highlights spaciousness as a key feature of its interior offering great utility. This includes above-average shoulder, elbow and headroom plus the easy access to the rear. It is at the top of its segment with regard to rear headroom (944 mm). The boot holds 420 litres and was designed for practical usability. The A-Class Sedan can be customised with the design and equipment lines Style, Progressive and AMG Line, with the Night Package as well as further optional equipment.


The A-Class Sedan has been introduced to the market with the A200 petrol engine. It comes with a 1.3-liter M282 engine producing a power output of 120 kW (163 hp) and a torque of 250 Nm. Power is transmitted by the 7G-DCT dual-clutch transmission, this system is an automated three-shaft manual transmission consisting of two subtransmissions, each with its own clutch. This allows a particularly comfortable but nevertheless dynamic mode of driving.

The A-Class Sedan keeps up the pace with technology from the A-Class, the Mercedes-Benz User Experience (MBUX) comes as a standard equipment. The major highlight of this system is its ability to learn thanks to artificial intelligence. MBUX is customizable and adapts to the user. Other key highlights of MBUX include; the widescreen cockpit, touchscreen, navigation services, smartphone integration, vehicle set up app, LINGUATRONIC voice control, LTE communications module for Mercedes me connect services and Burmester surround sound system.

The Intelligent drive system is another technological innovation in the A-Class Sedan. This comes with the very latest driving assistance systems with cooperative driver support, and thus provides the highest level of active safety in this segment with functions adopted from the S‑Class. For instance, the Active Distance Assist DISTRONIC is able to provide route-based support to the driver in numerous situations, and to predictively and conveniently adjust the speed when approaching bends, junctions or roundabouts. While the expanded Active Brake Assist can effectively help to mitigate the consequences of rear-end collisions with slower-moving, stopping or stationary vehicles ahead. Another highlight is PRE-SAFE PLUS, which can recognise an imminent rear-end collision. If the danger of a collision persists, the system can also firmly apply the brakes of the stationary vehicle, thus minimizing the risk of injuries by reducing the forward jolt caused by an impact from the rear.

Mr. Mirko Plath, Managing Director, Weststar Associates Limited, has described the growing compact car family as a step in the right direction from Mercedes-Benz. He also pointed out that the A-Class Sedan would serve more customer groups and that owning a Mercedes-Benz would be more attractive for the younger generation with the emotive and technological appeal of the MBUX, the modern design of the A-Class Sedan, the latest driving assistance systems and a very competitive entry price.

The compact car family of Mercedes-Benz has continued its growth in the Nigerian market with the A-Class Sedan set for its arrival. This follows the successful introduction of the new A-Class last year. Weststar Associates Limited, authorized General Distributor of Mercedes-Benz in Nigeria will introduce the A-Class Sedan by May, 2019.

SOURCE: https://brandspurng.com/2019/02/21/weststar-set-to-introduce-the-new-a-class-sedan/

In line with its mandate of addressing skills gap while also reducing the rate of unemployment in the State, the Lagos State Ministry of Wealth Creation and Employment has again trained and graduated 250 youths with skills that would change the beneficiaries' status from being unemployed to employers of labour.

Speaking at the graduation ceremony of trainees held at Adeyemi Bero Auditorium, Alausa, the Commissioner for Wealth Creation and Employment, Pharm. (Mrs.) Uzamat Akinbile-Yusuf said the graduands were trained to become employable, create jobs as well as have access to finance for entrepreneurship through the Lagos State Employment Trust Fund (LSETF).

Akinbile-Yusuf also disclosed that 50 of the graduates received training on auto-maintenance/repairs skills while 200 youths were trained on employability skills for a period of six months.

She expressed satisfaction with the conduct of the graduating students throughout the training period and admonished them to make Lagos proud by putting the knowledge acquired to practical use.

According to her, the programme was established to reduce unemployment and empower youths to become employable or self-employed while also leveraging on innovative technology.

In her contribution, the Permanent Secretary, Ministry of Wealth Creation and Employment, Mrs. Ganiat Raji, reiterated that the training programme is one of the numerous wealth creation initiatives of the State government to empower youths to look beyond white-collar jobs.

Earlier, the Chief Operating Officer, Automedics Limited, Mr. Gbola Oba, in his keynote address, informed the gathering that two of the graduating students had already been employed by his organisation in the course of the training.

He admonished the graduating students to aspire beyond the stereotypes and applauded females who went against accepted gender stereotypes by participating in the Automedics training.

Also, the Head, Micro Enterprise, Lagos State Employment Trust Fund (LSETF), Mr. Adewunmi Oni, encouraged the graduating students interested in entrepreneurship to forward loan applications to the agency for the establishment of their own businesses.

SOURCE: https://brandspurng.com/2019/02/20/lasg-empowers-250-unemployed-youths/

They say good things come in small packages but this one is on whole new vibe with such cheesy delicious goodness in a cute mini box! Say hello to the new 6-inch revolution in town, called the Domino’s Smallie Pizza! Believe us when we say you haven’t seen anything like this before in Nigeria, as Domino’s Pizza keeps breaking new grounds. What’s even more amazing? It costs just N550 only.

You may be wondering how pizza can be that affordable but the dream for Domino’s, is that one day, every Nigerian will be able to afford a box of pizza with the new Smallie. Talk about a revolution!

The Smallie Pizza is packed with mighty taste and value second to none. It is the perfect yummy and snack able-sized pizza, great for breakfast, school and work lunches, snack ideas for your favourite parties, ideal for light eaters or people who just want to try something different. These small but mighty pizzas are also best for when you don’t want to share (it’s okay to want all that cheesy-deliciousness to yourself sometimes!). It was time for a mini pizza delight and Domino’s is always a step ahead.

“We get excited when we are able to revolutionize our industry with unique products to address every consumer said Ilyas Kazeem, Marketing Manager, Domino’s Pizza Nigeria. We have simply done it again with our new Smallie Pizza, made with the freshest dough, local ingredients and high-quality expertise. What we want to achieve with the Smallie Pizza is for every Nigerian to be able to afford quality pizza, just whenever they feel like it. We want to be as close enough to our consumers as possible with the new Smallie Pizza, he added”.

This new pizza comes in 6 new flavours you can select from; Fiery Suya – topped with Chicken Suya and Red Chilli; Hot Chic – cheesy goodness topped with Chicken and Red Chilli; Smallie Pepp – the classic Pepperoni and Green Peppers; Sweet Marghie – made especially for lovers of cheese; Smallie Beef and Smallie sausage – both feasts for meat lovers!

If you simply just want to satisfy your hunger or pizza craving on the go, get you a Smallie. It is time to join the Pizza revolution! Walk into any Domino’s Pizza store or start placing your orders via the Domino’s App or website. It’s only a click away.

Source: https://brandspurng.com/2019/02/20/dominos-pizza-nigeria-launches-smallie-pizza-a-k-a-small-but-mighty/

Arik Air has introduced a N16, 000 fly- to -vote promotion to encourage Nigerians to travel to their respective wards to cast their votes in the rescheduled elections.

The promo also covers the Governorship and State Houses of Assembly Elections holding across the country on February 23, 2019, and March 9, 2019, respectively.

The N16, 000 promotional fare is the one-way ticket cost to any domestic destination on Arik Air’s network and customers must present a valid Permanent Voters’ Card (PVC) at the point of purchase and at check-in to be eligible to fly.

The fly- to- vote promotion is available for sale from Monday, February 18, 2019, till Tuesday, March 11, 2019, for travel between Thursday, February 21 and Tuesday, February 26, 2019, as well as between Thursday, March 7, 2019, and Tuesday, March 12, 2019.

Elaborating on the need for the promotion, Arik Air’s Chief Executive Officer, Captain Roy Ilegbodu said: “We have put this promotional fare in place to ameliorate the effect of the postponement on the travelling public and encourage voter participation.”

SOURCE: https://brandspurng.com/2019/02/20/arik-air-introduces-fly-to-vote-promo/

L’Oréal’s recently acquired Augmented Reality and Artificial Intelligence entity, ModiFace, and L’Oréal Research & Innovation have announced the launch of a digital skin diagnostic for consumers based on 15 years of scientific research on skin ageing by L’Oréal R&I evaluation teams.

This new technology is based on an Artificial Intelligence-powered algorithm developed by ModiFace and nourished by L’Oréal’s skin ageing expertise and photo database. Using deep learning, the algorithm has been trained on 6000 clinical images from L’Oréal’s R&I evaluation and knowledge studies conducted with Skin Aging Atlases1, and then a new model has been created on over 4500smartphones selfies for 3 groups of women (Asian, Caucasian and Afro-American) in 4 different lighting conditions. The results, which were developed with dermatologists, achieved a high level of skin assessment precision2. Accurate results were obtained with different facial expressions and photo taking conditions (light, phone position) similar to those used by consumers.

L’Oréal’s Skin Aging Atlases are the first exhaustive atlases of facial ageing, addressing visual aging signs. Studies for Skin Aging Atlases were carried out in France, China, Japan, India and the United States on a total of 4000 women and men aged from 20 to 80 years. Skin Atlases allow to evaluate or predict the general ageing of the face and are used today for clinical evaluations of cosmetic or dermatological treatments.

The first application of L’Oréal’s new skin diagnostic will be Vichy SkinConsultAI that launched in January 2019 in Canada and will be rolled out on the brand’s websites worldwide later this year.

The SkinConsultAI will provide women with a tailor-made diagnostic in 3 easy steps:

Women are invited to take or upload a selfie on the brand’s website.

The technology detects seven ageing signs: under-eye wrinkles, lack of firmness, fine lines, lack of radiance, dark spots, deep wrinkles and pores. The ageing signs are analyzed and the women discover their personalized skin aging matrix, their skin strengths and priorities to act on.

Each woman receives a tailored made product routine to address her specific skin priorities.

Lubomira Rochet, Chief Digital Officer of L’Oréal, said: “With the acquisition of ModiFace, we have started the second phase of L’Oréal’s digital transformation, focused on reinventing the beauty experience through technologies such as voice, AR and AI. We believe that services will be the new gateways for discovering our brands and products. After virtual makeup try on, virtual hair colour try on, online beauty consultations powered by AR, L’Oréal and ModiFace are proud to unveil the first skin care diagnostic authentically powered by AI and science.”

Myriam Bekkar-Schneider, Vichy General Manager, said: “As #1 anti-ageing brand in European pharmacies, we are proud to present SkinConsultAI, a true scientific milestone developed with dermatologists. For the first time, this technology allows all women to obtain a personal diagnostic to better understand their skin ageing and to find a skincare routine tailor-made for them.”

SOURCE: https://brandspurng.com/2019/02/19/loreal-launches-ai-powered-skin-diagnostic-based-on-scientific-research-in-skin-ageing/

Reliable sources close to Nairametrics indicate tier one lender Zenith Bank could earn close to N100 billion or more as gains from derivatives and treasury bills trading in the 2018 financial year.

The bank has consistently made trading gains in the last few years rising from N20 billion in 2016 to over N60 billion in the 2017 financial year.

Who heads the trading desk?

The trading desk of the bank is headed by Michael Anyimah. He is a 1997 graduate of Actuarial Science from the University of Lagos. He also obtained an MBA from the same institution in 2003. In addition, he is a CFA charter holder.

From July 2005 to March 2008, he was an FX trader with Citigroup Nigeria. While there, he was responsible for developing foreign exchange risk hedges for clients. He was also responsible for the active foreign currency balance sheet management.

He joined Zenith Bank in March 2008, as the Head of Foreign Exchange trading and Derivatives Sales and Trading. At Zenith, he manages the FX Trading Unit which trades the G7 currencies and the Naira against the G7 currencies. G7 currencies comprise currencies of the 7 industrialized countries namely the United States, Germany, France, Canada, Italy, Japan, and the United Kingdom.

He also heads the unit in charge of Derivative sales and trading, taking proprietary positions and providing hedging solutions to clients foreign exchange and interest rate risks

Zenith Bank is currently trading at N24.20 in today’s trading session on the Nigerian Stock Exchange, up  1.25%.

Note

This story was published before the bank’s release of its full-year 2018 results which showed it made N80 billion as net trading income.

SOURCE: https://brandspurng.com/2019/02/19/zenith-bank-earns-over-n80-billion-as-trading-gains-in-2018/

The outcome of the 2019 elections may come down to politics of the 6 geopolitical zones. In 2015, APC defeated PDP after clearing most votes in the more populated Northern region (83.0% of N/West, 78.0% N/East votes and 59.0% of N/Central votes).

Conversely, the PDP was more popular in South (amassed 91.0% votes in the S/South and S/East) although with lower turnout. The result was close in S/West (APC: 56.0% and PDP: 42.0%) and turnout was lowest (34%).

In 2019, defections by political heavy-weights and the Shiite crisis may affect the APC’s hold in the N/West, however, the party unlikely to lose its stronghold. President Buhari’s perceived push-back of Boko Haram and his pro-poor programs may support his chances in N/East. However, this may be deflated by Alhaji Atiku who is from the Zone. The N/Central may switch overwhelmingly in favour of the PDP, no thanks to the Herdsmen’s crisis, especially in Benue and Plateau States. Kwara State will split between Senate President Saraki’s bloc and APC remnants. Overall, the APC’s popularity in the Northern region may be lower relative to 2015.

Conversely, the PDP’s popularity in the South is unlikely to change, especially in the S/South and S/East where it has held since 1999. Also, the S/West could swing in either way, with the margin between both the APC and the PDP further slashed by dissenting votes to key contenders such as Dr. Kingsley Moghalu.

Table Sources: INEC, United Capital Research

SOURCE: https://brandspurng.com/2019/02/15/2019-election-the-regional-permutations/

African humour is set to take over the world! This Comedy Central Roast of AKA is set to rally Africans from Lagos to Cape Town to join in the celebration of poking fun at the celebrities they love the most. Welcome three wise men to unite our continent’s socio-political differences in a spectacular show of love and laughter as part of the Comedy Central Roast of AKA in partnership with Showmax, coming to The Teatro at Montecasino, Johannesburg, South Africa on 21 February 2019.


https://www.youtube.com/watch?v=iyMtQF1S-V4

Adding to his list of impressive achievements, Nigerian singer, Davido will become the first Nigerian to join the globally famous Comedy Central Roast. Davido has racked up numerous nominations and awards including the BET Award and the MTV EMA recognition in the “Best International Act: Africa”. Just how much will his presence on the stage unsettle the SupaMega AKA?

Commenting on the Roast Davido said, “I’m such a big fan of Comedy Central, this is going to be a hilarious night. I’m ready, Africa are you ready? This is a Roast so nothing is off limits!”


https://www.youtube.com/watch?v=tACoCnkHB28&list=PLD7nPL1U-R5rMSBbWzn3YRRAfZ1Ri78KG

Alex Okosi, Executive Vice President and Managing Director of Viacom International Media Networks Africa (VIMN Africa) added, “At VIMN Africa, we continuously evolve and innovate content to create unique and engaging experiences for our audiences that drive culture. In a continental first, this Comedy Central Roast now transcends boundaries by welcoming Africa’s international star, Davido, to the panel.”


https://www.youtube.com/watch?v=ofwCDTqBNmY

Warm-hearted and gentle, Moshe Ndiki stands tall on stage and is a growing role model. As a performer he easily steps out of standard social lines and into the hungry minds of his audience. Free from inhibition, this comic genius has shown us that we can all laugh at ourselves, shatter taboos, and that we are all as strong as the walls we can break. Moshe is a media sensation and has enough fiery flamboyance to take on the Man — AKA.


https://www.youtube.com/watch?v=C1CRoYZeD0Q

Comments Moshe: “I love the Comedy Central Roast because this will be a platform for me to query aspects of how AKA believes he is the first guy who invented blonde hair in December, he might as well have pioneered the passion gap for coloured folk. I mean he is the first coloured guy on earth according to his tweets.”

Last but never least, Pierre Van Pletzen, also known as ‘Oubaas’ will fan the flames onto AKA when he hits the stage. Proud but tactile in his approach, and after many years on the circuit with his multi-faceted screen performance he has a certain knack which will light up AKA and burn the theatre.

Pierre Van Pletzen concluded, “It feels wonderful to be part of the Roast of AKA, whom I’d like to address as the non-humble infamously popular rapper, about a few things; his no-show at performances, his knowledge of Geography and since he says he loves soccer… I would like to ask if he’s practising his technique by kicking fans off the stage?”


https://www.youtube.com/watch?v=ucVJrja8r6Q

So let’s get this Roast on: sit back and enjoy the fire as Comedy Central and Showmax bring you panellists Davido, Pierre and Moshe to join Francois Van Coke, Mark Fish, Nina Hastie, Moonchild Sanelly, Joey Rasdien, Papa Penny and Pearl Thusi as Roast Master. Get ready, because life just gets better when you laugh!


https://www.youtube.com/watch?v=dZXE1HhUpik

For more information about the Comedy Central Roast of AKA, please visit www.comedycentralafrica.com, Like us on Facebook at www.facebook.com/comedycentralafrica or join the conversation with us on Twitter and Instagram @comedycentralAF using the hashtag #RoastofAKA.

SOURCE: https://brandspurng.com/2019/02/15/davido-becomes-first-nigerian-panelist-on-comedy-central-roast/

Section 22 of the Companies and Allied Matters Act ("the CAMA" provides that a private limited liability company is a company which states in its memorandum of association to be a private liability company. The company shall restrict the transfer of its shares and the total number of its members shall not be more than 50 (fifty) persons.

Employees of a company shall not be included in computing the number of members of a private company. If 2 (two) or more persons hold one or more shares in a company jointly, they are treated as a single member. Unless authorized by law, a private company shall not invite the public to subscribe for its shares or debentures or deposit money for fixed periods payable at call whether or not it bears interests.

Advantages of private company limited by shares 

Limited Liability

The main advantage of a private company limited by shares is the limited liability of its shareholders. During the recent recession, many businesses experienced financial constraints which affected their performance and solvency. One advantage of private limited companies during the period is that the financial liability of the shareholders of such companies was limited to the number of shares they hold in the company. Therefore, if a private limited company is in financial trouble and had to wind up, shareholders would not risk losing their personal assets.

However, perpetrating a fraud related to the private limited company would negate an owner's limited liability protection. In such a case, the corporate veil of the company will be pierced to hold the perpetrators of the fraud personally liable. In the same vein, Section 290 of the CAMA provides that a director and other officers involved shall be personally liable where a company receives money by way of loan for specific purpose; or receives money or other property by way of advance payment for the execution of a contract or project; and with intent to defraud, fails to apply the money or other property for the purpose for which it was received.

Restricted Trade of Shares

This is an advantage to some shareholders because shareholders who want to sell their shares cannot sell them to outside buyers. Shareholders must also agree to the sale or transfer of shares. The risk of hostile takeovers is low.

Separate Personality

As propounded in the landmark case of Salomon v Salomon, once a private company is incorporated, it becomes an independent legal entity which is able to sue and be sued and own assets separate from that of the company's owners.

Continued Existence

Another advantage of a private limited company is its continued existence, even after the owners die or leave the company. A private limited company differs from a sole proprietorship in that the latter is owned by a single individual who is personally responsible for the business debts and essential to its continued existence.

Disadvantages of private company limited by shares

Registration Process

Registration of private company limited by shares takes a longer period and involves a process and cost which are not applicable to sole proprietorship and business names. However, once registered, the private limited company enjoys a wide variety of powers and rights.

Compliance Formalities

A private limited company requires a range of compliance post incorporation. It is required to hold board meetings, general meetings, get the accounts audited, maintain a statutory register and file an annual return with the Companies Registry each year. In addition to the corporate compliance formalities, a company would also have to maintain compliance with tax and labour laws, which are applicable.

Division of  Ownership

A major disadvantage of the private limited company is that it requires a minimum of 2 (two) persons to act as directors and shareholders. There is no one-man company in Nigeria yet. The Bill to amend the CAMA to provide for a one-man company is yet to be passed by the National Assembly.

As it stands now, a sole entrepreneur who wishes to start and operate a business by him/herself cannot start a private limited company. Major decisions in the company require the consent of at least 2 (two) directors. The company would also need to have 2 (two) shareholders to legally carry on business, even if one person holds a negligible amount of shares. This may stifle the progress of the company, especially where the directors or shareholders are at loggerheads.

Restricted Trade of Shares

This may be a disadvantage because the restriction placed on the sale of shares limits the options in which shareholders have to liquidate their shares to raise capital for other endeavours that they may be interested in.

Restriction on Public Participation

A private company is prevented from raising capital for its business by inviting the public to subscribe for its shares. This may be a limitation to the prospects and growth of the company.

Written by: Fred-young & Evans LP

SOURCE: https://brandspurng.com/2019/02/15/advantages-and-disadvantages-of-private-companies-limited-by-shares-in-nigeria/

DHL Global Connectedness Index: Mauritius becomes the most connected country in Sub-Saharan Africa

- International flows of trade, capital, information and people all intensified significantly for the first time since 2007; 
- Mauritius is sub-Saharan Africa's most connected country;
- Mozambique named as one of the countries where international flows most exceed expectations

DHL released the fifth edition of the DHL Global Connectedness Index (GCI) yesterday – a detailed analysis of globalization, measured by international flows of trade, capital, information and people. The new GCI report represents the first comprehensive assessment of developments in globalization across 169 countries and territories since the Brexit referendum in the United Kingdom and the 2016 presidential election in the United States. In spite of growing anti-globalization tensions in many countries, connectedness reached an all-time high in 2017, as the flows of trade, capital, information and people across national borders all intensified significantly for the first time since 2007. Strong economic growth boosted international flows while key policy changes such as US tariff increases had not yet been implemented.

The 2018 index measures the current state of globalization, as well as individual rankings for each country, based on the depth (intensity of international flows) and breadth (geographical distribution of flows) of countries’ international connections. The world’s top five most globally connected countries in 2017 were the Netherlands, Singapore, Switzerland, Belgium and the United Arab Emirates. Eight of the top 10 most connected countries are located in Europe, helping make it the world’s most connected region, in particular for trade and people flows. North America, the leader in capital and information flows, ranked second among world regions, followed by the Middle East and North Africa in third place.

In Sub Saharan Africa, the highest ranking country was Mauritius, which featured in 40thposition, while South Africa was named the highest-ranking country on the African continent itself, with an overall ranking of 56thplace.

“As the world continues to globalize, there are still many opportunities for intercontinental & intraregional trade, particularly for emerging economies in Sub Saharan Africa,” says Hennie Heymans, CEO of DHL ExpressSub Saharan Africa. “Globalization is a key driver for growth and fiscal security, which is evident in countries that have embraced it. We are confident about continued further growth in the region with new trade agreements coming into effect, to support regional collaboration.”

“Surprisingly, even after globalization’s recent gains, the world is still less connected than most people think it is,” commented GCI co-author Steven A. Altman, Senior Research Scholar at the NYU Stern School of Business and Executive Director of NYU Stern’s Center for the Globalization of Education and Management. “This is important because, when people overestimate international flows, they tend to worry more about them. The facts in our report can help calm such fears and focus attention on real solutions to societal concerns about globalization.”

At the global level, the GCI shows, for example, that just about 20% of economic output around the world is exported, roughly 7% of phone call minutes (including calls over the internet) are international, and only 3% of people live outside the countries where they were born. The report also debunks the belief that distance is becoming irrelevant. Most countries are much more connected to their neighbours than to distant nations.

Emerging economies remain less connected than advanced economies 

The GCI continues to reveal vast differences between levels of globalization in advanced versus emerging economies. Emerging economies trade almost as intensively as advanced economies, but advanced economies are more than three times as deeply integrated into international capital flows, five times for people flows, and almost nine times with respect to information flows.

Additionally, while leaders from large emerging markets have become major supporters of globalization on the world stage, emerging economies’ progress catching up in terms of global connectedness has stalled.

Mozambique beats expectations 

Mozambique was named as one of the five countries where international flows exceed expectations the most. This is positive news for the region because deeper global connectedness can help accelerate countries’ economic growth.

One cause for optimism regarding further growth potential for Sub Saharan Africa is the signing of the African Continental Free Trade Agreement (AfCFTA), signed by 49 countries in March 2018. According to a study by the UN Economic Commission for Africa, full implementation of the AfCFTA could double intra-African trade and boost the whole continent’s global connectedness.

SOURCE: https://brandspurng.com/2019/02/14/dhl-global-connectedness-index-mauritius-becomes-the-most-connected-country-in-sub-saharan-africa/

Pope Francis today highlighted the importance of rural development and the essential role played by the United Nations' International Fund for Agricultural Development (IFAD) in achieving the first two Sustainable Development Goals – ending global hunger and poverty.

"None of this will be possible without achieving rural development, a development that has been talked about for a long time but has not fully materialized," the Pope said, addressing Member States gathered at IFAD's 42nd Governing Council in Rome.

IFAD President Gilbert F. Houngbo,  in his address, echoed the Pope’s message. "The rates of extreme poverty and food insecurity remain persistently high. The progress we once claimed in reducing hunger has stalled. Today, nearly 821 million people suffer chronic under-nourishment, 37 million more than in 2014," said Houngbo.

Given this reality, Houngbo urged those present to invest more in rural development in order to prevent future crises of hunger, poverty and migration.

The Pope said the world has achieved great scientific and technical advances and now has the capacity to win "the battle against hunger and misery if it is taken seriously."

He called on government leaders to work together to make the slogan "hunger does not have a present or a future, only a past" a reality. Speaking of the world's poor and hungry people, he said: "I would like us to be able to look at their faces without blushing because their cries have been heard".

The Pope urged all those who have responsibilities in national governments and international organizations, as well as those who can contribute from the private sector, to develop and implement the necessary mechanisms and measures to enable rural people to become the architects of their own development.

"Today more than ever," he said, "we must join efforts, achieve consensus, strengthen ties. The current challenges are so intricate and complex that we cannot continue to deal with them on an occasional basis, only with emergency resolutions. "

The Pope assured the audience that IFAD has achieved great results in its fight against hunger and poverty, "promoting South-South cooperation, diversifying funding sources and modes of action, promoting action based on evidence that, at the same time, generates knowledge."

He said that the world must "rely on innovation, entrepreneurial capacity and the central role of local actors." Pope Francis concluded by saying that the path of rural development is "humble, but fair" and when followed to the end provides "a harvest of justice and prosperity."

Source: https://brandspurng.com/2019/02/14/pope-francis-highlights-the-role-of-the-ifad-in-ending-global-hunger-and-poverty/

237 million people affected in sub-Saharan Africa, straining global and continental hunger eradication efforts...

Hunger in Africa continues to rise after many years of decline, threatening the continent's hunger eradication efforts to meet the Malabo Goals 2025 and the 2030 Agenda for Sustainable Development, particularly the Sustainable Development Goal 2 (SDG2). New data presented in the joint UN report, the Africa Regional Overview of Food Security and Nutrition, released today, indicates that 237 million people in sub-Saharan Africa are suffering from chronic undernutrition, derailing the gains made in the past years.

The joint report by the Regional Office for Africa of the Food and Agriculture Organization of the United Nations (FAO) and the United Nations Economic Commission for Africa (ECA) was launched today in Addis Ababa at an event presided by FAO's Deputy Director-General Climate and Natural Resources, Maria Helena Semedo.

It shows that more people continue to suffer from undernourishment in Africa than in any other region - evidence suggests that in 2017, 20 percent of the African population was undernourished.

"The worsening trend in Africa is due to difficult global economic and worsening environmental conditions and, in many countries, conflict and climate variability and extremes, sometimes combined. Economic growth slowed in 2016 due to weak commodity prices, in particular for oil and minerals. Food insecurity has worsened in countries affected by conflict, often exacerbated by drought or floods. For example, in Southern and Eastern Africa, many countries suffered from drought," FAO Assistant Director-General and Regional Representative for Africa, Abebe Haile-Gabriel, and ECA Executive Secretary, Vera Songwe, said in their joint foreword of the report.

Of the 257 million hungry people in Africa, 237 million are in sub-Saharan Africa and 20 million in Northern Africa. The annual UN report indicates that compared to 2015, there were an additional 34.5 million more undernourished people in Africa, of which 32.6 million in sub-Saharan Africa and 1.9 million in Northern Africa. Nearly half of the increase is due to the rise in the number of undernourished people in Western Africa, while another third is from Eastern Africa.

At the regional level, the prevalence of stunting in children under five is falling, but only a few countries are on track to meet the global nutrition target for stunting. The number of overweight children under five continues to rise and is particularly high in Northern and Southern Africa. According to the regional report, progress towards meeting the World Health Organization's global nutrition targets is slow at the continental level.

In many countries, notably in Eastern and Southern Africa, adverse climatic conditions due to El Niño led to a decline in agricultural production and soaring staple food prices. The economic and climatic situation has improved in 2017, but some countries continue to be affected by drought or poor rainfall.

Economic growth slowed in 2016 due to weak commodity prices, in particular for oil and minerals

Greater efforts and collaboration needed to achieve SDG 2

The report reveals that more efforts are needed to achieve SDG2 and global nutrition targets amidst the important challenges faced by the continent, such as tackling youth employment and climate change. Agriculture and the rural sector must play a key role in creating decent jobs for the 10 to 12 million youths that join the labour market each year. Another present and growing threat to food security and nutrition in Africa, particularly to countries relying heavily on agriculture, is climate change. The effects of climate change, reduced precipitation and higher temperatures negatively influence the yields of staple food crops.

At the same time, there are significant opportunities for agriculture in developing intra-African trade, harnessing remittances for development, and investing in youth. Remittances from international and internal migration play an important role in reducing poverty and hunger as well as stimulating productive investments. International remittances amount to nearly $70 billion, about three percent of Africa's GDP, and present an opportunity for national development that governments should work on to strengthen.

The signing of the African Continental Free Trade Area agreement provides an opportunity to accelerate growth and sustainable development by increasing trade, including trade in agricultural products. Although agricultural intra-African exports rose from $2 billion in 2000 to $13.7 billion in 2013, they remain relatively modest and often informal. The report highlights that opening trade of food also carries risks to consumer and producer welfare and governments should avoid using trade policy for multiple objectives but rather combine trade reform with additional instruments, such as safety nets and risk-mitigating programmes, to achieve food security and nutrition goals.

Call for greater action to address the threat from climate variability and extremes

This year's Regional Overview, entitled, "Addressing the Threat from Climate Variability and Extremes for Food Security and Nutrition," illustrates that climate variability and extremes, in part due to climate change, are important factors underlying the recent rise in food insecurity and severe food crises on the continent.

Many countries in Africa are at great risk to climate-related disasters and suffer from them frequently. Over the last ten years, climate-related disasters affected on average 16 million people and caused annually $0.67 billion in damages across the continent. Although not all of these shorter-term climate variations may be attributable to climate change, the evidence presented shows that more numerous and more frequent occurrences of climate extremes and a rise in climate variability are threatening to erode gains made towards ending hunger and malnutrition.

FAO and ECA stressed, "Greater urgency in building the resilience of households, communities and countries to climate variability and extremes is needed. We need to face myriad of challenges to building institutional capacity in designing, coordinating and scaling up actions for risk monitoring and early warning systems, emergency preparedness and response, vulnerability reduction measures, shock-responsive social protection, and planning and implementing resilience-building measures. Strategies towards climate change adaptation and disaster risk reduction must be aligned as well as coordinated with interventions in nutrition and food systems across sectors."

In terms of developing climate adaptation strategies and implementation, the report highlights the need for greater efforts in data collection, monitoring and implementation of climate-smart agriculture practices. Continued efforts through partnerships, blending climate change adaptation and disaster risk reduction, and long-term financing can bridge humanitarian and development approaches.

Key facts and figures

- Number of hungry people in Africa: 257 million or 1 in every 5 people
- Children under five affected by stunting (low height-for-age): 59 million (30.3 percent)
- Children under five affected by wasting (low weight-for-height): 13.8 million (7.1 percent) -
- Children under five who are overweight (high weight-for-height): 9.7 million (5 percent)
- Percentage of women of reproductive age affected by anaemia: 38 percent
- Percentage of infants aged below 6 months who were exclusively breastfed: 43.5 percent
- Percentage of adults who are obese: 11.8 percent

SOURCE: https://brandspurng.com/2019/02/13/hunger-on-the-rise-in-africa-new-un-report-reveals/

More pictures...

BMW M GmbH is expanding its high-performance model line-up to include models in the mid-size Sports Activity Vehicle (SAV) and Sports Activity Coupe (SAC) segments for the first time. The BMW X3 M and BMW X4 M set the benchmark for dynamic excellence, agility and precision in their respective classes.

Also new is the launch alongside the BMW X3 M and BMW X4 M of their Competition siblings. The BMW X3 M Competition (fuel consumption combined: 10.5 l/100 km [26.9 mpg imp]; CO2 emissions combined: 239 g/km*) and BMW X4 M Competition (fuel consumption combined: 10.5 l/100 km [26.7 mpg imp]; CO2 emissions combined: 239 g/km*) will capture customers’ imagination with their extra power and exclusive appointments.

New six-cylinder in-line engine with superlative performance.

The most powerful straight-six petrol engine ever to see action in a BMW M car provides the muscle for stunning performance attributes. The newly developed high-revving unit with M TwinPower Turbo technology generates maximum output of 353 kW/480 hp from its 3.0-litre displacement, together with peak torque von 600 Nm (442 lb-ft). The version of the bi-turbo unit developed specially for the BMW X3 M Competition and BMW X4 M Competition raises the output figure by 22 kW/30 hp to 375 kW/510 hp.

Flawless distribution of power: M xDrive, Active M Differential.

The new high-performance engine teams up with an eight-speed M Steptronic transmission with Drivelogic and uses the new M xDrive all-wheel-drive system, which made its debut in the BMW M5, to channel its power to the road. The M xDrive system has a rear-wheel bias and offers BMW X3 M and BMW X4 M owners two AWD driving modes. The centrally controlled interaction between M xDrive and the Active M Differential at the rear axle allows the all-wheel-drive system to split the engine’s power between the four wheels as required to deliver optimal traction, agility and directional stability. The BMW X3 M and BMW X4 M both sprint from 0 to 100 km/h (62 mph) in 4.2 seconds, while their Competition variants hit 100 km/h (62 mph) from rest in just 4.1 seconds.

M-specific chassis technology provides sublime dynamics.

The combination of dynamism and precision for which BMW M cars are renowned is underpinned by model-specific body strengthening elements and sophisticated chassis technology tuned astutely to marshal the engine’s power. With three settings selectable at the touch of a button, the M-specific suspension’s electronically controlled dampers enable both excellent everyday comfort and extremely direct contact with the road, with low wheel and body movements. The bespoke kinematics and elastokinematics of the M-specific suspension – with its double-joint spring strut front axle and five-link rear axle – deliver precise wheel location and directional stability. Composed to also deliver precisely controllable on-limit handling, the chassis technology package rounds off with M-specific steering (including M Servotronic and variable ratio) and powerful M compound brakes. Among the other items on the standard specification list are 20-inch M light-alloy wheels.

Like the damper control systems and M xDrive modes, the engine and transmission characteristics and steering set-up can be adjusted at the touch of a button. The DSC (Dynamic Stability Control) system allows controlled wheel slip in M Dynamic Mode and, needless to say can also be switched off. Plus, the content shown in the optional Head-Up Display can be specified via the iDrive menu. The driver can store two overall set-up options – configured as desired from the above parameters – in the iDrive menu and select them as and when required using the two M buttons on the steering wheel.

Signature M design elements for the exterior and interior.

M-specific design features optimise the supply of cooling air for the BMW X3 M, BMW X4 M and Competition models, as well as their aerodynamics. Inside the cars, the electrically adjustable sports seats, Vernasca leather upholstery, M-specific cockpit, M leather steering wheel and M gearshift selector lever create a sporty and luxurious ambience.

The BMW X3 M Competition and BMW X4 M Competition bring further exclusive accents to the exterior, in the form of High-gloss Black for the BMW kidney grille surround, exterior mirror caps and M gills, and the rear spoiler of the Sports Activity Coupe. Their standard equipment also includes 21-inch M light-alloy wheels in polished Black and an M Sport exhaust system. The expressive aura of the interior, meanwhile, is enhanced by M Sport seats with extended Merino leather upholstery, model-specific door sill plates and a model nameplate on the centre console. Options for the Competition models include special bi-colour leather upholstery variants with Alcantara applications.

The optional M Carbon exterior package (expected to be available from August 2019), which features design elements in carbon fibre-reinforced plastic (CFRP) for the front air intakes, the air blades in the front apron, the rear diffuser and the exterior mirror caps, adds further individual flourishes. On the BMW X4 M and BMW X4 M Competition, these elements are joined by a CFRP rear spoiler.

Among the items fitted as standard in the BMW X3 M, BMW X4 M and Competition models are LED headlights, the hi-fi speaker system and the ConnectedDrive navigation package including the Navigation system Professional. The options list for the BMW X3 and BMW X4 provides further scope for individualisation and includes cutting-edge driver assistance systems and the digital services from BMW Connected and BMW ConnectedDrive.

SOURCE: https://brandspurng.com/2019/02/13/bmw-unveils-the-all-new-2020-x3-m-and-x4-m-pictures/

Toy industry sales decreased by 2 percent * in 2018 across the 13 global markets (G13)** tracked by The NPD Group, a leading global information company. Similar to last year’s reporting, toy sales in the United States, the world’s largest toy market, matched the world’s collective performance (-2 percent). Mexico, Russia, and Brazil saw growth while the United Kingdom, Australia, Spain and France experienced declines.

Category Highlights

Dolls, Action Figures & Accessories, and Youth Electronics experienced respective growth of 9 percent, 8 percent, and 1 percent, while sales of Arts & Crafts were flat. Of the remaining supercategories tracked by NPD, Plush and Vehicles saw the largest declines.

“Several factors added up to a smaller share of wallet for traditional toys in 2018, including a shrinking retail footprint and the increasing demand for video games,” said Frédérique Tutt, Global Toys Industry Analyst at The NPD Group. “While it isn’t business as usual for toys, 2019 sounds promising thanks to a wide range of kid-friendly movies, which often helps to drive toys sales, as well as old, favourite toy brands that are either celebrating milestone birthdays or attempting to make a comeback.”

Looking at the top five selling toy properties across the G13 in 2018, L.O.L. Surprise! was the largest property overall, holding the first position in six out of 13 global markets followed by Barbie, Marvel Universe, Nerf, and Star Wars.

“In 2018, many manufacturers demonstrated their resilience in what could easily be described as a tumultuous market, with two rising to the top to win NPD’s annual awards for excellence in sales,” continued Tutt. “The winners of 2018’s Global (G13) Toy Industry Awards are Mattel for the #1 Manufacturer, as well as MGA Entertainment for #1 Property, L.O.L. Surprise!, and for the #1 Selling Toy, L.O.L. Surprise! Doll Assortment.”

SOURCE: https://brandspurng.com/2019/02/13/global-toy-sales-declined-by-2-in-2018/

The Nigerian e-Commerce market is set for exciting times ahead as two major players, Jumia and Konga, are reportedly set for the eye-catching listing of their shares on the international market.

e-Commerce giant, Jumia is planning an initial public offering (IPO) in New York this year which will reportedly see the business valued at $1.5 billion, even as MTN Group, Jumia’s largest shareholder is looking to raise up to $600 million from the sale of its shares during the IPO. In May 2018, Jumia was said to be planning an IPO in Frankfurt or London as its mother investment company, Rocket internet was seeking an exit, a report that was neither denied or confirmed.

It has also emerged that Konga, arguably Nigeria’s biggest Omni- Channel e-Commerce group, is also set for a major listing on either the London Stock Exchange or New York Stock Exchange (NYSE) by the last quarter of 2020.

Feelers from confidential sources within the New York bourse have it that the Konga Group is set for an initial public offering that will see the e-Commerce giant valued at about $3.2b, further shoring up the potential of the e-Commerce industry in Nigeria, Africa’s biggest market.

Investigations reveal that Mark Jessey, a prominent stock analyst on NYSE had hinted of the strong possibility of a Konga IPO before the end of next year, a move which, according to him, is a much sought-after one by investors, many of whom have followed within the last 8 months the huge strides and trajectory of the business which came under new ownership after the exit of previous majority investors, Naspers and AB Kinnevik.

While Jumia’s successful listing could help MTN reduce its debt which unconfirmed reports indicate to have increased to over five billion dollars in June from about $4.1b at the end of 2017, Konga’s imminent IPO is one that should see the business excite a horde of potential investors, going by the current standing of the company.

When contacted on the likely listing of Konga, Chris Uwaje, a tech enthusiast and Africa Chair for IEEE World Internet of Things (WIoT), noted that the company has added huge value to the e-commerce landscape which should see its value gross over $3.5b.

“Within the last seven months, I am aware that the new owners of Konga have repositioned the company strategically and upped the overall value of the business. Konga could claim to be unarguably the most structured e-Commerce company in Africa, with huge infrastructure and technology backbone which is rare in Africa and which is the strength of global players such as Amazon and Alibaba. In valuing Konga, you must consider its strategic 360 degrees Omni-channel strategy, their Central Bank of Nigeria-licensed mini bank – KongaPay which I am sure cannot be valued anything less than $750m and best in Africa digital logistics division known as Kxpress with a nationwide network. I know Konga is likely the only company that does about ninety percent of her long haul and last mile deliveries in the continent.

“In today’s investment climate, investors are investing strategically in quality companies that are owned by experienced and well tested local Entrepreneurs with global vision and I am sure you know Konga has all these qualities under one roof in addition to over thirty physical retail stores spread all over Nigeria and which also act as delivery, collection and payment centres, so they could ask for more than $5b for their sweat.”

Commenting further, MMrUwaje stated: “We have also seen the huge investment in massive warehouses across major cities such as Abuja, Enugu, Akwa-Ibom, Rivers State, Imo, Kano, Delta, just to mention a few, in addition to more than three mega structures in Lagos. I am also aware that the company recently spent over N9b in acquiring a very huge warehouse in a high-brow area in Lagos in preparation for Artificial Intelligence and Robotics-driven warehousing.”

According to Uwaje, who doubles as the Director General, Delta Innovation Hub, Konga is an African e-Commerce Unicorn whose impressive strategies and achievements within such a short period would be hard to replicate in the Nigerian e-Commerce space.

Efforts to reach any of the Chief Executive Officers of the Konga Group were unsuccessful.

A staff of the company disclosed that all Management staff were in a lengthy strategy meeting and she would hate to interrupt them.

SOURCE: https://brandspurng.com/2019/02/13/boom-for-e-commerce-as-jumia-konga-plan-1-5b-3-2b-ipos/

An interview with the Group Executive Director of Dangote Group...

Q: Your foundation has obviously got a lot of influence in Nigeria, what are your main objectives for this year?

A: One of the main pillars is health. Nutrition determines the state of one’s health and we are investing towards nutrition, specifically primary health care, and most importantly towards eradication of polio, that itself is a good example of what Public-Private Partnerships should put on the top of their list. This year’s Dangote Foundation is partnering with the Bill & Melinda Gates Foundation and the Nigerian government. It is crucial for us to get buy-in from each state government that we partner with; so Dangote Foundation, government and B&M Gates Foundation have equal responsibilities and we do really see the impact when we each are accountable. Through impact assessment in the rural areas, studying the root causes, we are able to determine where we want to see results and how to achieve progress. The formula is working and we will keep at it as there is a lot to cover.

Q: Healthcare and infant mortality obviously is a huge issue across the poorest countries in Africa. What could other corporates do to get more involved in helping, following your model?

A: The business sector is the most important in this model, and we put a strong emphasis to really pull the business sector, like the ones here at the Health Business Forum. This thing that we are pushing to get 1% of the tax dedicated to health; we need the support of other businesses to do it as well? All of us corporate can just contribute and see this would ultimately help the health sector, and I mean, the way the foundation sees it, when investing in health, it should not be considered a cost, it is a huge investment in the future generations and it’s going to cost us a lot more if we don’t start now, a lot more.

Q: What are your proudest moments?

A: I am extremely proud of being able to make a difference in this world, that collectively we are changing and influencing people to keep aiming for a better lifestyle and to take better care of their health and well-being of their loved ones.

Q: If you had one single most important message from you personally to the world, what would it be?

A: I think, every single person has a role to play, and it is important to search deeper and find ways to contribute. Ultimately it can be very little, but you have to make an effort to participate. It’s not just about saying it. It is about being honest with yourself and having the courage to walk the talk.  We all live on the same planet. Our communities within our cities play a strong role in the way we live with one another. Everybody has to participate! Everyone deserves to be healthy and happy!

SOURCE: https://brandspurng.com/2019/02/12/we-need-to-do-more-collectively-for-africa-at-the-africa-business-health-forum-halima-dangote/