₦airaland Forum

Nigeria’s Total Public Debt Stock comprising the External and Domestic Debts of the Federal Government of Nigeria (FGN), the 36 States and the Federal Capital Territory (FCT) stood at USD73.213 Billion or N22.429 Trillion. These were about the same as the figures of USD73.208 Billion and N22.38 Trillion recorded in June 2018.

External Debt declined by 2.02% to USD21.592 Billion due largely to the redemption by Nigeria of a USD500 Million Eurobond which matured on July 12, 2018. The Eurobond which was issued for a tenor of 5 years in 2013, was the first Eurobond maturity for Nigeria and Nigeria’s ability to repay it seamlessly, boosted Nigeria’s position as a good credit in the International Capital Market.

The Domestic Debt of the FGN, States and the FCT grew by 1.19% from N15.629 Trillion in June 2018 to N15.814 Trillion in September 2018. This increase of N185 Billion was attributed to the FGN (N135 Billion) and States and FCT (N50 Billion).

The combination of an increase in the level of Domestic Debt and decrease in the External Debt Stock resulted in a slight shift in the Portfolio Composition. As of September 30, 2018, the share of Domestic Debt was 70.51% compared to 69.83% in June 2018. This trend is expected to be reversed in Q4 2018 as the New External Borrowing of N849 Billion (about USD2.78 Billion) provided in the 2018 Appropriation Act is expected to be raised within the Quarter.

SOURCE: https://brandspurng.com/2019/01/01/nigerias-public-debt-stock-hits-n22-38trn-foreign-debt-declines-drops-by-2/

Some Nigerians have projected rise in inflation and borrowing rates as well as naira appreciation in the next 12 months. They gave the projection in the Central Bank of Nigeria (CBN) 2018 fourth quarter Consumer Expectations Survey (CES) report released on its Website.

The highlights of the Q4 2018 Consumer Expectations Survey (CES) are as follows:

- The overall outlook of consumers was positive in the current quarter, as more consumers were optimistic in their outlook. Consumers also had a positive outlook for the next quarter and the next 12 months.
- Majority of consumers nationwide believe that the next 12 months would not be an ideal time to purchase big-ticket items like motor vehicles and house & lot.
- Most respondents expected that the naira will appreciate, the inflation rate will rise, and the borrowing rate will rise in the next 12 months
- The major drivers of the expected upward movement in prices are rent, food & other household needs, telecommunication, electricity, debt payment and purchase of house.

The Consumer Expectations Survey (CES) for Q4 2018 was conducted during the period November 24 - December 7, 2018, covering a sample size of 1,770 households drawn from 207 Enumeration Areas (EAs) across the country, with a response rate of 99.2 per cent. Respondents’ distribution by educational attainment showed that 22.0 per cent had a university education, 22.9 per cent had higher non-university education, while 29.1 per cent had senior secondary school education. Respondents with junior secondary and primary school education accounted for 16.2 and 6.7 per cent, respectively, while those with no formal education accounted for the balance of 3.1 per cent.

Consumer Overall Confidence Index

The consumers’ overall confidence outlook improved in Q4 2018, as more consumers were optimistic in their outlook. The index at 9.7 points was 8.7 points higher than the index in the corresponding period of 2017. Respondents attributed this favourable outlook to improved family income, family financial situation and economic condition. The consumer outlooks for the next quarter and the next 12 months were positive at 33.2 and 28.4 points, respectively. This outlook could be attributed to the expected increase in net household income, the anticipated improvement in Nigeria’s economic conditions and expectations to save a bit and/or have plenty over savings in the next 12 months.

Outlook on Price Changes in the Next 12 Months

Most respondents expect prices of goods and services to rise in the next 12 months, with an index of 13.3 points. The major drivers are rent, food & other
household needs, telecommunication, electricity, debt payment and purchase of house.

Buying Outlook

The overall buying conditions index for consumers in the current quarter for big-ticket items stood at 46.1 points. This indicates that the majority of consumers believed that the current quarter was not the ideal time to purchase big-ticket items like consumer durables, motor vehicles and house & lot.

Overall buying intention index in the next twelve months stood at 50.3 index points, indicating that a good number of consumers intend to buy these items in the next 12 months. The buying intention indices for consumer durables, motor vehicles and house & lot were below 50 points, indicating that respondents have no plans to make these purchases in the next twelve months. However, the index for consumer durables stood close to 50, indicating that a few respondents are contemplating purchasing furniture, gas cookers and electronics in the next twelve months.

Borrowing and Exchange Rates Outlook for the next 12 Months

With indices of 5.0 and 6.6 points, consumers expect the borrowing rate to rise while the naira is expected to appreciate in the next 12 months.

Unemployment Outlook for the next 12 Months

The unemployment index for the next 12 months remained positive at 29.3 points in Q4 2018, indicating that majority of the consumers expect the unemployment rate to rise in the next one year.

SOURCE: https://brandspurng.com/2019/01/01/expect-inflation-borrowing-rates-rise-in-next-12-months-cbn/

STARTUPS

• CowryWise was listed as one of the “50 World-Changing Startups to Watch in 2019
• Logistics startup Kobo360 raised $6M, expands in Africa
• Impact Hub Lagos collaborated with Siemens on Hack Edo
• MDaaS raised $100k From Ventures Platform

NEW INVESTMENTS, REINVESTMENTS & EXPANSIONS

• African Natural Resources and Mines Limited plans $600m iron ore, steel production in Kaduna
• AFC invested $25m Equity in Infracredit
• Symbol Mining began construction of separation plant at Nigerian zinc project
• Petrolex plans $3.6bn oil refinery for Ogun
• ExxonMobil, QIPP to invest $1.6bn on power, gas in Akwa-Ibom
• Kaduna State signed MoU with DLO Energy Resources to develop 30MW Solar PV plant
• Frigoglass in €25-30 million Nigerian glass investment
• Shell signed FID on Assa North Gas project
• Green Africa Airways, Boeing sealed $11.7 billion aircraft deal
• ABB to diversify investments in Nigeria
• Carlyle Group invested $40 million in Wakanow.com
• Taxify expanded to Benin
• itex expanded services, unveiled new brand identity

MERGERS & ACQUISITIONS

• Diamond Bank confirmed merger talks with Access Bank
• Sirius Petroleum to acquire stake in Nigeria oil project

ECONOMY

• Federal government certified Cross River garment factory’s products for export
• NSE, Nasdaq sign new trading agreement
• CAC registered 69,000 companies in 2 months
• NEXIM entered into a $1bn trade facilitation pact with African Export-Import Bank for Nigeria
• Nigeria’s first gold refinery gets underway
• ACCI signed pacts with Chinese council, 20 others
• Trade Across Border: FG approved two PPP projects

SOURCE: https://brandspurng.com/2018/12/31/highlights-of-december/

A former President and elder statesman, Shehu Usman Aliyu Shagari (GCFR), has died after a brief illness at the National Hospital, Abuja.

His grandson, Bello Shagari, announced this around 7pm on Friday via his verified Twitter handle.

“I regret announcing the death of my grandfather, H.E Alhaji Shehu Shagari, who died right now after a brief illness at the National Hospital, Abuja,” he said in the tweet.

https://twitter.com/Belshagy/status/1078713346545909763
Shagari, who was Nigeria’s president in the Second Republic under the platform of the National Party of Nigeria (October 1 – December 31, 1983) attended Barewa College.

Atiku Nuhu Koko, head of the Shagari Centre, also confirmed the passing away of the highly respected former President.

SOURCE: https://brandspurng.com/2018/12/28/ex-president-shehu-shagari-dies-in-abuja/

All over the world, holidays mean the return of certain specialties: Olivier salad for New Year’s in Russia, Red bean porridge for solstice in Korea, Haleem for Ramadan in India and the Middle East, Mince pies for Christmas in England, Pogača bread for Orthodox Easter, Banana cakes for Lunar New Year in Vietnam. Whatever the holiday is and wherever in the world it is celebrated, there is usually a type of special food that goes along with it.

The holidays are a great time to celebrate food and to appreciate it. Yet, in some parts of the world, holidays have become synonymous with over-eating and food waste. In general, 1/3 of all the food produced in the world is either lost or wasted. That amounts to 1.3 billion tons per year. And food isn’t the only thing that is wasted when it goes uneaten: all of the resources (like seeds, water, feed, etc.), money and labour that go into making it are also lost.

While we celebrate the people and ideas that we value, let us make saving food one of them.

Here are six tips on how to avoid and reduce holiday food waste:

1-     Be realistic – Plan in advance and don’t prepare food for 50 people if only 5 are coming to dinner.

2-     Freeze leftovers or give them to guests – If you do cook too much food, encourage guests to take some home with them. Whatever is left, put it promptly in the freezer for another day. In general, food should not be left at room temperature for longer than two hours.

3-     Turn the leftover food into the next day’s lunch or dinner – There are many creative recipes on the internet for using leftovers. In fact, several dishes like casseroles, goulash, fattoush and Panzanella started from the desire not to waste fruits, vegetables or even excess, bread. Make sure that you store any leftovers in the refrigerator and use it as soon as possible.

4-     Finish leftovers before making something new – The instinct to make something different for every meal is quite common, but before cooking a new dish, see if you have anything already prepared and still safe to eat to finish first. Alternatively, turn your old leftovers into a new dish. Just remember to avoid re-heating food and then putting it back into the refrigerator later.

5-     Allow guests to serve themselves so they can choose as much or as little as they want – As nice as it is to serve people, a host might not accurately gauge how much or how little someone wants to eat and usually errs on the side of too much. Allowing guests to serve themselves means that they can choose the amount that they would like to eat. (As a food waste tip for guests: when a meal is self-serve, don’t take more than you can eat!)

6-     Donate what you don’t use – If you buy extra cans, dried goods or other non-perishable food that can be donated, there are many local charities that happily accept these foods. Check the internet for places near you that accept donations.

This holiday, remember that having enough food is a privilege. Don’t waste it!


https://www.youtube.com/watch?v=7SqLz4O32vc

SOURCE: https://brandspurng.com/2018/12/26/make-notwasting-food-a-personal-resolution/

Both teams brought in their kicking game in a strong contest for territory after which Joshua Etim dotted down in the 30th minute to put Barewa ahead...

Barewa Rugby Club of Kano became back-to-back champions of Nigeria as they beat Cowrie Rugby Club in a pulsating Presidents' Cup final at the Main bowl of National Stadium, Surulere, Lagos on Saturday.

Tries from Joshua Etim and Sani Muhammed helped the Nothern champions into a 13-0 lead, but Cowrie hit back through Jeremiah Peters unconverted try.

Both teams brought in their kicking game in a strong contest for territory after which Joshua Etim dotted down in the 30th minute to put Barewa ahead.

Man of the match and Barewa captain; Nuhu Ibrahim created the second try after picking the ball from a loose ruck before releasing Sani Muhammed wide on the left for Barewa's Second try in the sixtieth minute.

Cowrie without their captain Onoru Jatto and wing man Christian Ogar then launched endless attacks on the Barewa defence, forcing their fullback Gabriel John to make three try-saving tackles deep inside the Barewa half.

Cowrie eventually made a try of their own when a quick penalty was taken and the ball quickly moved wide left from Azeez Olanrewaju to Jeremiah to cross the whitewash and Barewa held on for their back to back win.

Cowrie dominate the scrum & breakdown

The Lagos league champions determined to add a trophy to their cabinet decided to throw bodies into the ruck and they succeeded in halting Barewas' momentum.

For a long time, they dominated the scrum by pushing Barewa five to ten meters backwards most times and disrupted Barewa's line-out dominance for the most part of the game.

Teams

Cowrie Rugby Club: Sunday Bassey; Elijah Johnson, Olatunde Sulaiman, Ikenna Mgboji, Obiyele Ajinde; Azeez Olanrewaju, Hassan Rilwan; Hassan Mohammed, Daniel John, Jeremiah Peters, Alfred Oche, Tokunbo Lambo, Azeez Ladipo,

Replacements: Chijioke Emmanuel for Tunde Sulaiman (40), Sodiq Oduola for Elijah Johnson (40), Emeka Iheanacho for Tokunbo Lambo (50), Isaac Sani for Ikenna Mgboji (60)

Barewa Rugby Club: Mohammed Umar; Ibrahim Suraju, Zarmai Daniel, Alex Richard, Shalom  Matthew; Shamsudeen Aliyu, Jude Abrakson; Issa Omale, Nuhu Ibrahim, Sani Mohammed, Michael Gabriel, Joshua Etim, Akpabio Samuel, Gabriel John

Replacements: Bashir Usman for Michael Gabriel (56), Abdulkareem Zaraddem for Akpabio Samuel (72), Wisdom for Issa Omale (70).

SOURCE: https://brandspurng.com/2018/12/25/nigeria-rugby-barewa-beat-cowrie-13-5-to-retain-presidents-cup/

Prices of petroleum products including Premium Motor Spirit (PMS) also known as petrol and Automotive Gas Oil (AGO) or diesel, increased in November, the National Bureau of Statistics (NBS) has disclosed.

Specifically, consumers of petrol in Kebbi, Kaduna and Taraba states paid an average of N158.24, N156.75 & N155.46 per litre respectively during the Yuletide, others like Jigawa (N144.29), Sokoto (N144.20) & Imo (N142.50) recorded the lowest prices

Also, the average price paid by consumers for premium motor spirit (petrol) increased by 1.3% year-on-year and 0.2% month-on-month to N147.50 in November 2018 from N147.20 in October 2018 during the review period.

Similarly, the average price paid by consumers for automotive gas oil (diesel) increased by 0.10% month-on-month and 10.18% year-on-year to N219.54 in November 2018 from to N219.33 in October 2018.

States with the highest average price of diesel were Imo (N242.11), Osun (N240.62) and Borno (N238.89). States with the lowest average price of diesel were Kaduna (N195.50), Bayelsa (N196.82) and Kwara (N200.00).

NBS said for the data collection, field work was done solely by over 700 staff in all states of the federation, supported by supervisors who were monitored by internal and external observers.

“Fuel Prices are collected across all the 774 local governments across all states and the Federal Capital Territory (FCT) from over 10,000 respondents and locations and reflect actual prices households said they actually bought those fuels together with the prices reportedly sold by the fuel suppliers. The average of all these prices is then reported for each state, and the average for the country is the average for the state.”

SOURCE: https://brandspurng.com/2018/12/24/consumers-paid-more-for-petrol-diesel-in-november-says-nbs/

Frigoglass will invest €25-30 million to expand furnace capacity at its Beta Glass Guinea plant, located in Agbara, Ogun state in Nigeria.

The investment will increase capacity at the plant by 35,000 tons per year.

It includes a new furnace which will replace an existing one that has reached the end of its life, an additional production line, upgrades to existing production lines, as well as new inspection equipment to strengthen the plant’s capabilities.

It said the investment will drive growth in the company’s glass business across the West African region. The new furnace, with an expected productive life of more than 12 years, demonstrates its commitment to customers across West Africa.

The plant will also pioneer the use of Narrow Neck Press and Blow (NNPB) technology, which will enable the production of lighter weight non-returnable glass bottles for the first time in West Africa.

The project is expected to become fully operational in 2020.

Frigoglass CEO Nikos Mamoulis, said: ”This strategic initiative demonstrates our commitment to implement investments that will enable the group’s future growth.

“It supports the growth of our international and regional beverage customers in the high growth potential West African region.”

Abimbola Ogunbanjo, Chairman of Beta Glass, said: “We continue to implement investments to better cater to the growing needs of our customers for glass packaging.”

Darren Bennett-Voci, Glass Division Director of Frigoglass and Managing Director of Beta Glass, said: “This new larger furnace secures the livelihoods of our existing employees in Agbara, and creates not only additional jobs but also shareholder value and contributes positively to the development of the local community.”

The company added that its Frigoglass SAIC has completed the divestment of its glass container subsidiary Frigoglass Jebel Ali FZE to ATG Investments Limited.

SOURCE: https://brandspurng.com/2018/12/17/frigoglass-in-e25-30-million-nigerian-glass-investment/

More pictures...

Renmoney recently announced that it had partnered with design firm Spacefinish to design its new Headquarters and flagship sales branch. The new office space is themed around enabling productivity as well as better collaboration among Renmoney employees.  

"It is amazing to see companies pay attention to their office spaces, this makes me very happy. Over the past year, we’ve been able to build some iconic office spaces in Africa. Working with innovative companies in executing their vision. Our big challenge each time is making sure we deliver a space that is different and innovative, something that hasn't been seen before, and I think we did that with Renmoney” says Spacefinish CEO, Remi Dada.

By researching how employees at Renmoney worked and communicated, Spacefinish was able to create a space that was tailored to meet both employees and clients needs. The life-size train converted into a workspace was designed to represent the momentum of a locomotive, which is in line with Renmoney’s dedication to continuing to move the financial sector forward.

On the ingenuity of the space, Dada adds that
“The Renmoney HQ is our most innovative workspace yet, designed to drive heightened levels of productivity for the Renmoney team, and inspire them to be more innovative. My favourite feature is the Renmoney Train. We’ve made the booth seats in the train so comfortable you’ll want to ride in it!".

SOURCE: https://brandspurng.com/2018/12/17/spacefinish-unveils-new-office-space-for-renmoney-pictures/

Week 49 Recap...


https://www.youtube.com/watch?v=5Ov7bELaFe0&t=7s

Week 49 News Recap...


https://www.youtube.com/watch?v=5Ov7bELaFe0&t=7s

Mauritius has been ranked the most prepared country in Africa for shopping online, according to UNCTAD’s Business-to-Consumer (B2C) E-commerce Index for 2018, released today at the Africa eCommerce Week taking place in Nairobi, Kenya, on 10-14 December.

Forty-three African countries feature in the 151-nation index but makeup as many as nine of the bottom ten. First-ranked Mauritius placed 55 in the global index, which is topped by the Netherlands, Singapore and Switzerland.

Nigeria, the most populous African nation, ranks second, largely thanks to a significant increase in postal reliability as measured by the Universal Postal Union (UPU).

According to the report, “Nigeria has achieved the top spot in the region thanks to a sustained performance in terms of reliability and connectivity, in spite of a drop in resilience. Indeed, with a score of 85.12, Nigeria’s reliability is among the 25 highest in the sample. This is corroborated by relatively good average delivery times of 3.6, 4.4 and 2.0 days for letters, parcels and express mail respectively.”

Nigerian Post (NIPOST) aims to reach 90 per cent home delivery by 2020 through its “Mail for Every House Initiative.” One challenge has been the addressing system that only allows 20% of inhabitants to get home delivery. NIPOST has adopted an innovative addressing system launched by a United Kingdom startup known as “what3words.” The system has divided the world into 57 trillion 3 x 3-meter cells with each cell associated with a unique three words (available in 26 languages).

The main post office in Nigeria’s capital Abuja is labelled bracelets.hesitations.mutes. The idea is that a three-word label is easier to remember that a full address or GPS coordinates. NIPOST became the seventh postal service in the world to adopt the system (and third in Africa after Côte d’Ivoire and Djibouti).

The top three African countries each have a distinctive strength in one of the four areas measured by the index. Highest ranked Mauritius has a considerable 12 point higher score than the next African country. This small island developing state scores relatively high in all four areas but particularly with regard to the share (90%) of the population having an account. In an effort to get more SMEs online, the Government launched a shopping portal in 2018 offering tax-free purchases.

As Africa’s largest B2C e-commerce market (in terms of both number of shoppers and revenue), reliable delivery of products is critical.

“Africa trails behind the rest of the world in its preparedness to engage in and benefit from the digital economy. Three-quarters of the African population has yet to start using the Internet,” UNCTAD Secretary-General Mukhisa Kituyi said.

“However, the continent is showing progress in key indicators related to B2C e-commerce. Since 2014, sub-Saharan Africa has surpassed world growth on three out of the four indicators used in the index,” he added.

“We estimate that there were at least 21 million online shoppers in Africa last year, less than 2% of the world total, with three countries – Nigeria, South Africa and Kenya – accounting for almost half. Nevertheless, the number of African online shoppers has surged annually by 18% since 2014, faster than the world average growth rate of 12%.”

The top three African countries in the index each has a distinctive strength in one of the four areas measured by the index which not only counts numbers of online shoppers but measures ease of payment and delivery.

Mauritius has a considerable 12-point higher score than the next African country. This small island developing nation scores relatively high in all four areas but particularly in the share of the population having a bank or mobile money account (90%).

Nigeria, the most populous African nation, ranks second, largely thanks to a significant increase in postal reliability as measured by the Universal Postal Union (UPU). As Africa’s largest B2C e-commerce market (regarding both number of shoppers and revenue), reliable delivery of products is critical.

South Africa is third, level with several other African countries – Cabo Verde, Gabon, Mauritius and Morocco – for its Internet penetration, with around six in ten inhabitants using the Internet in 2017. South Africa leads by some margin in the number of secure Internet servers per one million people – an indication of websites accepting online sales and payments.

While African countries need to boost Internet penetration to grow e-commerce, many also have to get more of its existing Internet users to trust the online market for making purchases. Unlike developed markets, such as in the European Union, where 68% of Internet users made an online purchase in 2017, the corresponding figure in Africa was only 13% on average in 2017.

While the B2C E-commerce Index correlates with the proportion of online shoppers for the world as a whole, in Africa this relationship is more tenuous as other factors than those captured by the index may be at play.

The main reason some countries score relatively low on the index (relative to their online shopping rank) is their low scores in the UPU postal reliability index.

Similarly, having a bank or mobile money account may not be as important as it is in other developing or developed regions since cash-on-delivery is the dominant mode of payment for e-commerce in Africa.

UNCTAD supports the ability of African countries to engage in and benefit from e-commerce through its Rapid eTrade Readiness Assessments of least developed countries. These reports identify bottlenecks and propose remedies and, as of December 2018, assessments in Africa have been completed for Burkina Faso, Liberia, Madagascar, Senegal, Togo, Uganda and Zambia.

Image Captions:

1. The preferred method of shopping on Jumia Nigeria

2. The top ten ranked African countries in the index are shown below.

SOURCE: https://brandspurng.com/2018/12/10/mauritius-nigeria-top-africa-online-shopping-readiness-ranking-in-2018/

Africa Magic, the leading provider of entertainment content for Africa by Africans, is celebrating 15 years of magic, quality content and the continuous development of the local African television entertainment industry.

According to the Channel Director, Africa Magic Channels, Wangi Mba-Uzoukwu: “For 15 years the Africa Magic channels have entertained viewers and audiences with the best content coming from some of the most amazing talents behind and in front of the cameras. In doing this, we have also undoubtedly led the development of the current African television entertainment scene, a role we continue to play.”

Beginning with just two channels in 2003, the Africa Magic channel roster now includes six channels with three local language channels: Africa Magic Yoruba, Africa Magic Igbo and Africa Magic Hausa.

Speaking on the milestone, the CEO of MultiChoice Nigeria, Mr John Ugbe said: “The celebration of Africa Magic is also the celebration of Africa’s film and television industry. The growth witnessed in the industry can be linked to the impact of the Africa Magic channels in operation across 53 countries on the continent. The Africa Magic channels have also consistently proven to be a platform for the unearthing, promotion and celebration of existing and up and coming film and TV talent, and the channels’ various means and models of industry partnerships ensure a steady line of critical investment in the industry.”

Over the years, Africa Magic has developed original content that continues to entertain Africa: from the flagship TV drama, Tinsel, which already holds the record for the longest running series in Sub Saharan Africa; to the Pan African drama series, Jacob’s Cross, magazine shows 53 Extra and Jara; and comedy series The Johnsons and Hustle. The channels are also known the telenovelas which have become television staples over the years including Hotel Majestic, Hush, Battleground, Ajoche, Forbidden and Eve.

For more information about Africa Magic programming, please visit www.africamagic.tv and following the conversation using the hashtag: #CelebratingAfricaMagic.

SOURCE: https://brandspurng.com/2018/12/08/africa-magic-is-celebrating-15-years-of-quality-african-entertainment/

Wawu...

The power generation statistics for Q3 2018 reflected that a total average of 78,917 MWh of energy was generated daily by power stations, according to the latest data from the National Bureau of Statistics obtained by our correspondent.

Daily energy generation attained a peak of 90,197 MWh on the 16th of August 2018. Thermal stations generated a peak of 85,948 MWh on 10th July 2018 while the hydro stations attained a peak of 30,164 MWh on the 28th of August, 2018. However, the lowest daily energy generation of 57,357 MWh was attained on 8th of July 2018

However, the total number of consumers with prepaid meters increased by 2.36% to 1,653,144 customers in Q3 2018 from 1,615,066 customers in Q1 2018.

Abuja Disco has the highest number of customers metered. This is closely followed by Benin Disco and Ibadan Disco while Yola Disco recorded the least total number of customers metered.

SOURCE: https://brandspurng.com/2018/12/03/electricity-consumers-got-38078-prepaid-meters-in-q3-2018-nbs/

Nigeria leads in the amount of revenue it generated from gaming activities between January and October 2018 ahead of its peers on the continent, the latest report on the Global Games Market for the period under review has shown.

Analyses of the data in the report showed that Nigerian ranked second on the continent having generated about $180m in revenue while Egypt led the whole continent with $286m in revenue for the same period.

Other countries by revenue showcased in the study are: Algeria, which generated $142m and number three in Africa; South Africa made $129m and Kenya earned $31m from gaming activities this year ended October.

In the study carried out by NewZoo, a global provider of games and e-sports analytics, Ghana earned $30m and Ethiopia generated $27m from consumer spending on games within the same period.

However, out of 100 countries that the study covered globally, Egypt ranked 37th, Nigeria ranked 45th and Algeria ranked 54th, South Africa ranked 56th while Kenya ranked 89th.

The report stated that the revenues were based on consumer spending in each country and exclude hardware sales, tax, business-to-business services, and online gambling and betting revenues.

Commenting on the findings, the Chief Executive Officer, Newzoo, Peter Warman, said, “It took more than 35 years for the global games business to grow to $35bn in 2007, the year that the iPhone was introduced. Since then, the games market has added an extra $100bn in revenues to arrive at this year’s total of $137.9bn worldwide.

“The uptake of smartphones has been a key contributor to the accelerated growth of the games market, in terms of both engagement and revenues, but is only one of the many factors that have brought us to where we are today.”

Globally, the study showed that China led the top 100 countries by game revenues with $37.9bn in revenues for the same period.

It added that the United States and Japan remained second, and the third-largest by game revenues with $30.4bn and $19.2bn, respectively.

According to the findings, despite having one-third of the number of players, the Japanese mobile market is almost the same size as North America’s, as mobile gamers in Japan spend more than anyone else in the world.

“The German games market will total $4.7bn this year, placing it at 5th and the largest market by game revenues in Europe. South Korea is the most notable riser in the ranking. It surpassed both the United Kingdom and Germany and is now the fourth-largest market with game revenues of $5.6bn,” it added.

The report added, “In terms of regions, Asia-Pacific builds out its lead with revenues of $71.4bn in 2018. With markets like India and Indonesia, Asia-Pacific is home to the fastest-growing games market globally. Driven by increased smartphone adoption, better Internet infrastructure, and competitive and immersive mobile games, these markets have boosted the region to capture 52 per cent of the global market.

“ North America is the second-largest region with $32.7bn in-game revenues, ahead of Western Europe at number three.”

SOURCE: https://brandspurng.com/2018/12/03/nigeria-generates-180m-from-gaming-activities-report/

See the video recap of the news highlights from week 48...



https://www.youtube.com/watch?v=ydoRPScE_Z8

See the video recap of the news highlights from week 48...


https://www.youtube.com/watch?v=ydoRPScE_Z8

See the video recap of the news highlights from week 48...


https://www.youtube.com/watch?v=ydoRPScE_Z8

Foremost African financial institution, Guaranty Trust Bank Plc has won the award for "Bank of the Year Nigeria” for the second year in a row at The Banker's Bank of the Year Awards, regarded as the industry standard for excellence within the global banking sector. Guaranty Trust Bank Sierra Leone Ltd, a subsidiary of Guaranty Trust Bank Plc, was also recognized as the “Bank of the Year Sierra Leone” at the event, which held on November 29, 2018, at the Sheraton Grand London Park Lane, London, United Kingdom.

The Banker, a publication of the Financial Times, is the world’s leading monthly journal of records for the banking Industry, with over 90 years expertise in publishing developments in the banking industry in Africa and on the global scale. The Magazine’s Bank of the Year Awards celebrates leading financial institutions within the global banking sector who are setting new industry standards and driving innovation in financial services and customer experience.

Receiving the award on behalf of the Bank, Segun Agbaje, Managing Director/CEO of GTBank said; “We are honoured to be recognized as the 2018 Bank of the Year in Nigeria and Sierra Leone. These awards serve as further motivation for us as we continue to go beyond traditional banking services by creating innovative digital services that are less about us as bank and more about our customers and how we empower them with everything that they need to better their lives.”

He further stated that “Our vision has always been to create an oasis in the financial services industry that leads, not only in earnings and returns on equity but also in maintaining world-class corporate governance standards and pushing the bounds in service delivery and customer experience. These awards reflect our sustained commitment towards this vision, which we will continue to pursue, driven by our passion for excellence and guided by our founding values of hard work, discipline and integrity.”

Alongside its record for consistent year-on-year growth, GTBank is widely regarded by industry watchers as a trailblazer in the banking industry due to its many innovations in digital and financial services. Recently, the Bank launched Habari, Nigeria’s largest platform for music, shopping and lifestyle content and the first mobile platform created by a financial institution in the country that focuses on enabling people’s needs and lifestyle rather than providing regular banking products.

SOURCE: https://brandspurng.com/2018/12/02/gtbank-maintains-leading-position-as-best-bank-in-nigeria-wins-bank-of-the-year-sierra-leone/

GDP per capita is often considered an indicator of the standard of living of a given country, as it reflects the average wealth of each person residing in a country. It is, therefore, the standard method used to compare how poor or wealthy countries are in relation to each other. With 2018 just underway, we decided to take a look at our forecasts for GDP per capita from 2019 to 2023 for the 127 countries we cover to get an idea of what countries are the poorest currently and which will be making a leap toward becoming wealthier in the coming years.

The projections used in this study are Consensus Forecasts based on the individual forecasts of over 1000 world-renowned investment banks, economic think tanks and professional economic forecasting firms.

As one might imagine those closest to the top of the list are mostly emerging markets and the least developed countries of which the majority are from Sub-Saharan Africa. Similar to our ranking for the most miserable economies, this is one of those lists where the “winners” aren’t really winners; being as far from the top of the list as possible is a good thing.

Many of the poorest nations in the world are places where issues such as authoritarian regimes, political turmoil, weak financial institutions, inadequate infrastructure and corruption deter foreign investment despite the fact that many of them are immensely rich in natural resources and have a young, growing population. In our list of the top 10, five are landlocked, which means they have no direct access to maritime trade and another one is in the midst of a civil war, which helps to explain why some of them are currently not in the best of shape.

Despite how grim that may sound, these countries stand to benefit the most in the coming years as emerging markets will become vitally important to the global economy. Although per capita GDP will still be the highest in the developed world by 2023, the fastest growth in GDP per capita will indeed come from many of the world’s poorest economies currently. According to our forecasts, the highest per capita growth from 2017–2023 will be in Mongolia with an 89% increase in that time span, followed by Myanmar, Egypt, Serbia and Bangladesh with 83%, 80%, 79%, and 67% growth in per capita GDP, respectively.

With that said, let’s have a look at the poorest countries in the world according to the FocusEconomics Consensus Forecast for 2019 nominal GDP per capita.

1. Democratic Republic of Congo

2017 GDP per Capita: USD 439

2019 GDP per Capita (projected): USD 475

2023 GDP per Capita (projected): USD 551

Although the DRC has abundant natural resources, unfortunately with a projected 2019 GDP per capita of USD 475, the country is in the unenviable position of being the poorest country in the world. There has been severe political unrest in recent years, as calls for President Joseph Kabila, who took power after the assassination of his father in 2001, reached a fever pitch in 2018. Kabila was reelected in 2011 in a controversial election and had since postponed elections several times. Finally, in August, Kabila declared that he would not seek re-election and named a successor candidate. The next presidential election has been slated for 23 December and opposition parties selected well-known businessman and veteran legislator, Martin Fayulu, as the unity candidate on 11 November following lengthy talks in Geneva. Fayulu has been one of the fiercest critics of President Joseph Kabila’s tight grip on power. While strong activity in the extractive sectors has supported firm growth, the long-delayed elections have led to a tense business environment and a slowdown in overall activity. Moreover, Katanga Mining (a subsidiary of Glencore) announced a temporary halt to cobalt production at its Kamoto mine, after high levels of uranium were discovered.

Strong demand for key export commodities, including copper and cobalt, is expected to drive growth next year. Moreover, a sharp decline in inflation should buoy domestic demand. Political risks, however, darken the outlook. FocusEconomics analysts have thus far priced-in a peaceful transition of power—which would mark the first since independence in 1960—projecting growth of 3.7% in 2019 and 4.3% in 2020.

2. Mozambique

2017 GDP per Capita: USD 429

2019 GDP per Capita (projected): USD 502

2023 GDP per Capita (projected): USD 648

The second poorest country in the world is Mozambique with a forecasted GDP per capita of USD 502 for 2019. The former Portuguese colony has high hopes of transforming its economy based on prospects of abundant natural gas fields discovered in 2011. The country recently took an important step toward said transformation with the approval of a USD 20 billion Anadarko liquified natural gas plant in early-2018, which envisages exploiting the country’s vast deposits of natural gas.

Economic growth is expected to accelerate this year on the back of higher prices for natural gas. FocusEconomics panellists see the growth of 3.5% in 2018 and 4.1% in 2019.

3. Uganda

2017 GDP per Capita: USD 726

2019 GDP per Capita (projected): USD 759

2023 GDP per Capita (projected): USD 959

Uganda finds itself in third place on the list with a 2019 projected GDP per capita of USD 759. Although this represents a large leap from the level of the first two on the list, Uganda is a bit of a strange case. Following the 1986 armed conflict, the ruling political party National Resistance Movement (NRM), enacted a series of structural reforms and investments that led to a period of significant economic growth and poverty reduction all the way up to 2010. In the last five years or so, economic growth has slowed and consequently so has the pace of poverty reduction. There are a variety of factors that have brought on the slowdown, however, it has been attributed mostly to adverse weather, private sector credit constraints, the poor execution of public sector projects and unrest in their neighbour South Sudan, which has flooded the country with refugees fleeing the country and subdued exports. According to the World Bank, if Foreign Direct Investment accelerates, the banking system stabilizes, and budgeted, capital spending is executed without delays, the economy may start to pick up once again, helping to reduce poverty.

Luckily for Uganda, it appears the FDI is indeed improving according to the latest confirmed data, expanding by double digits in 2017, which bodes well for the economy and poverty reduction in the near future. The downside risk to the outlook is the weakness in the financial system, particularly the low level of credit in the private sector and the high cost of small loans. FocusEconomics panellists see the growth of 5.9% in 2019 and 6.1% in 2020.

4. Tajikistan

2017 GDP per Capita: USD 777

2019 GDP per Capita (projected): USD 861

2023 GDP per Capita (projected): USD 1159

Tajikistan is number four on the list of poorest countries with a projected 2019 GDP per capita of USD 861. Tajikistan gained independence after the fall of the Soviet Union, however, a civil war broke out shortly after, which lasted five years until 1997. Since then, political stability and foreign aid have allowed the country’s economy to grow, reducing poverty rather remarkably. According to the World Bank, poverty fell from over 83% to 47% between 2000 and 2009 and fell further from 37% to 30% between 2012 and 2016. Since then, poverty reduction has regrettably stagnated, however, it is projected to fall from 30% to 25% by 2019 as growth picks up.

The economy, which is highly reliant on remittances, is expected to grow strongly in again 2019. Improving labour market dynamics, and a continued robust inflow of remittances supported by Russia’s ongoing economic recovery should buoy private consumption. Headwinds to the growth outlook include a less supportive external environment owing to tighter global financial conditions and the escalating tit-for-tat trade war. The economy is seen growing by 5.7% in 2019 and 5.4% in 2020.

5. Yemen

2016 GDP per Capita: USD 762

2019 GDP per Capita (projected): USD 913

2023 GDP per Capita (projected): USD 1079

Yemen is in the midst of massive civil war that has caused a catastrophic humanitarian crisis, which goes a long way to explaining the country’s place on this list of the poorest countries in the world. Yemen is forecast to have a GDP per capita of USD 913 in 2019. Basic services across the country are on the verge of collapse, as half of the population is currently living in areas directly affected by the conflict and millions of Yemenis have been forcibly displaced.

Yemen is also facing the worst famine in a century, according to the United Nations, with 14 million people at risk of starvation. After peace talks failed to get off the ground in September, fighting only intensified. In recent weeks, the unofficial exchange rate has come under pressure despite a USD 200 million cash injection from Saudi Arabia into Yemen’s Central Bank in October, while Yemenis around the country have protested for better living conditions.

Following three-and-a-half years of civil war, the economy is expected to return to growth for the first time in six years in 2019; albeit thanks in part to a miserably-low base effect. FocusEconomics expects the economy to expand 5.3% in 2019 and 7.6% in 2020.

6. Haiti

2017 GDP per Capita: USD 776

2019 GDP per Capita (projected): USD 923

2023 GDP per Capita (projected): USD 993

Haiti is number six on the list with an expected GDP per capita of USD 923. Haiti is extremely vulnerable to extreme weather and natural disasters with 90% of the country’s population at risk according to the World Bank. These natural disasters batter the country in more ways than one, including the economy. The 2010 earthquake, for example, did damage equivalent to 32% of the country’s GDP.

Although there is some positive sentiment over Haiti’s political situation, as new president Jovenel Moïse took office in February of last year and the new parliament and cabinet were ratified later in the year, which should allow the country to accelerate reforms and move public programs forward to create a more sustainable development for all Haitians, the country remains the poorest in the Americas. More than 6 million out of 10.4 million Haitians live under the national poverty line of USD 2.41 per day and over 2.5 million live under the national extreme poverty line of USD 1.23 per day according to the latest household survey (ECVMAS 2012). As far as income equality goes, it is also one of the most unequal, with a Gini coefficient of 0.59 as of 2012.

While the economy started 2017 on a solid footing, economic activity has decelerated since, mostly due to the negative impact of Hurricanes Harvey and Irma. Furthermore, the U.S. administration’s decision to scrap Temporary Protected Status (TPS) for Haitians as of July 2019 threatens all-important remittance inflows, which account for around 34% of the country’s GDP. As a result of this decision, around 60,000 Haitians currently living in the U.S. could be forced to return to Haiti.

Growth should accelerate in 2019, though the country’s prospects remain hampered by rampant corruption and political instability. Growth is projected to come in at 2.7% in 2019 and 2.7% again in 2020.

7. Ethiopia

2016 GDP per Capita: USD 884

2019 GDP per Capita (projected): USD 1122

2023 GDP per Capita (projected): USD 1508

Back to Africa now with number seven on the list, Ethiopia is located in the Horn of Africa, which gives it a great strategic jumping off point, as it is close to the Middle East and its markets. Although it is technically landlocked, it’s a tiny bordering neighbour, Djibouti acts as its main port. Ethiopia has grown rapidly since the turn of the century and is currently the fastest growing country in Africa, although extremely poor as evidenced by it’s projected 2019 GDP per capita of just USD 1122.

Along with Ethiopia’s rapid economic growth came significant reductions in poverty with over 55% of Ethiopians living in extreme poverty in 2000 dropping to 33.5% in 2011, according to the World Bank. To sustain its economic growth and poverty reduction, good governance is needed, however, significant public unrest has taken hold in Ethiopia of late over the country’s authoritarian regime.

In a bid to cool mass unrest and open the way for economic reforms, Prime Minister Hailemariam Desalegn submitted his resignation on 15 February. In October, parliament approved Sahle-Work Zewde to become the country’s first female president—a sign of political openness from Prime Minister Abiy Ahmed. Growth should remain robust in FY 2018, although is likely to slow somewhat as the government restrains public investment growth to limit imports. That said, an improving business environment following market-friendly economic reforms could propel stronger activity in the private sector. FocusEconomics sees the economy growing 8.2% in FY 2018 and 7.6% in FY 2019.

8. Tanzania

2017 GDP per Capita: USD 1037

2019 GDP per Capita (projected): USD 1159

2023 GDP per Capita (projected): USD 1502

Number eight on the list of poorest economies is Tanzania with an expected USD 1159 GDP per capita for 2019. Tanzania’s economy has been very consistent over the last decade averaging between 6 and 7% growth every year. According to the World Bank, the poverty rate has also steadily declined, however, the absolute number of people living in poverty has not due to the high growth rate of its population over that time.

Economic prospects for Tanzania depend on infrastructure investment, improving the business environment, increasing agricultural productivity, amongst others and growth prospects for next year remain strong. The economy should continue to expand solidly, supported by sustained infrastructure spending and growth within the services sector on the back of growing tourist inflows. FocusEconomics expects GDP to expand 6.5% in 2019, which is unchanged from last month’s forecast, and 6.4% in 2020.

9. Kyrgyzstan

2017 GDP per Capita: USD 1203

2019 GDP per Capita (projected): USD 1266

2023 GDP per Capita (projected): USD 1488

Kyrgyzstan is ninth on the list with an expected 2019 GDP per capita of USD 1266. A landlocked, largely mountainous country with just over 6 million inhabitants, the Kyrgyz Republic recently adopted a parliamentary system in 2011. Having experienced considerable political and social instability with weak governance and high corruption since gaining independence in 1991, the country’s current democracy is a far cry from those days. Nonetheless, corruption is still pervasive in the public sector, which constrains the country’s economic growth potential.

The Kyrgyz economy is also vulnerable to external shocks due to its overreliance on its massive gold mine, Kumtor, which accounts for about 10% of GDP, as well as remittances, which amount to about 30% of GDP.

Growing gold production in September at the all-important Kumtor mine powered the rebound in economic activity recorded in the January–September period, when GDP increased slightly in annual terms, from the small contraction recorded in January–August. That said, cumulative mining output in January–September was still much lower than in the same period last year, which translated into falling exports. On the other hand, during the same time span, sustained wage increases and rising remittances led to a solid expansion in retail sales while both capital investment and construction increased strongly.

GDP growth is set to accelerate next year, as production at the Kumtor gold mine increases, driving output growth in the industrial sector. Solid consumer spending, fueled by healthy wage growth and higher remittances from Russia, will also underpin the expansion. A possible cooling in economic activity in Russia due to U.S. sanctions, however, cloud the outlook. FocusEconomics projects GDP growth of 4.3% in 2019 and 4.5% in 2020.

10. Uzbekistan

2017 GDP per Capita: USD 1514

2019 GDP per Capita (projected): USD 1350

2023 GDP per Capita (projected): USD 2351

Uzbekistan is last on the list of poorest countries according to 2019 GDP per capita, which is forecast to come in at USD 1350. The country’s economic growth was fast between 2004 and 2016, lifting significant portions of the country out of poverty. A country rich in commodities, Uzbekistan was aided by high commodities prices and increased exports of gas, gold and copper, which generated state revenues that financed large increases in investment and wages that bolstered private consumption.

Unfortunately, in the period between 2013 and 2016, commodities prices came crashing down along with the weak performance of Russia and China, key trade partners, adversely affected the economy. Despite the external environment weakening, the government’s countercyclical fiscal and monetary policies allowed growth to slow only slightly, however, poverty reduction has largely stagnated.

In February of 2017, the government began implementing its Strategy of Actions for the Development of Uzbekistan for 2017-2021, which among other things included measures to liberalize its economy. One measure was implemented in September of 2017, which linked the official exchange rate with the curb market rate and established a framework to allow it to flow.

Unfortunately, the economy moderated sharply in 2017 to 5.3% from 2016’s 7.8%, the lowest print since 2003. The moderation partly reflected the impact of the currency devaluation, which had caused inflation to spike and real disposable income to drop. It also underscored the short-lived impact that many market-friendly reforms pushed ahead by the government to attract foreign investment are having on the economy.

The economy grew 5.2% annually in the January–September 2018 period, driven by a strong services sector and solid industrial output. Industrial activity was propped up by soaring mining and quarrying production, largely thanks to a booming natural gas sector. In addition, construction activity expanded robustly in the same period, supported by buoyant demand for real estate amid easing inflationary pressures. On 19 October, authorities began preparatory work on the country’s first nuclear plant, estimated to cost USD 11 billion and largely financed by Russia, in a bid to further strengthen Uzbekistan’s energy sector. The government has also signed multibillion-dollar economic and investment deals with Russia and the U.S. as the country continues its pro-liberal economic policy push.

In 2019, growth should remain solid on the back of sustained government spending, healthy capital investment and a growing inflow of remittances from Russia. FocusEconomics expects the economy to expand 5.1% in 2019, down 0.4 percentage points from last month’s forecast, and 5.5% in 2020.

SOURCE: https://brandspurng.com/2018/12/01/the-poorest-countries-in-the-world/

Renmoney won the ‘Consumer Finance Lender of the Year’ award at the 2018 BusinessDay Banking and Financial Institutions (BAFI) awards. The awards ceremony was held on Friday, November 23, at the Lagos Continental Hotel.

The BAFI awards recognize top players in Nigeria’s banking and financial sector for their outstanding performance and Renmoney’s award was in recognition of their efforts in driving the fintech lending value chain in the financial sector.

The Chief Executive Officer, Tobi Boshoro, represented by Head of Commercial, Yetunde Faulkner, described the award as an indication that the initiatives being implemented by Renmoney, particularly regarding improved convenience and service delivery, were adding value to customers.

She said: “We are pleased to be recognized for our efforts in leveraging technology to make credit more accessible to our customers. This award will encourage us to continue to build more convenient solutions for Nigerians.”

Earlier in November, it was double honours for Renmoney at the Nigeria Finance Innovation Awards. While the company received the Consumer Finance Company of the Year award, the CEO, Tobi, was recognised as the ‘Woman of the Year: Fintech’.

The company also received the award for Excellence in Lending and Financing at the Africa Fintech Summit, also held in November.

SOURCE: https://brandspurng.com/2018/11/29/renmoney-wins-businessday-award-for-consumer-lending/

With a wealth of innovations, the all-new Mercedes-Benz GLE is poised to set new benchmarks in its segment at an extremely competitive price. For example, the revolutionary new E-ACTIVE BODY CONTROL system is the world's most intelligent SUV suspension developed by Mercedes-Benz and powered in part by the 48-volt battery.

The driver assistance systems also take another step forward with Active Stop-and-Go Assist that enables the GLE to recognize traffic jams at an early stage and support the driver in stop-and-go traffic. The interior is even more spacious and comfortable, with a newly available third-row seat. The new GLE is equipped with the intuitively-operated infotainment system Mercedes-Benz User Experience (MBUX) with Voice Control and natural language understanding and introduces the new MBUX Interior Assistant, which supports operating intentions by recognizing hand and arm movements. The exterior design not only exudes presence and power but also sets a new standard for aerodynamics in the SUV segment. The all-new GLE lineup includes the GLE 350, with an MSRP starting at $53,700,* the GLE 350 4MATIC starting at $56,200,* and the GLE 450 4MATIC starting at $61,150.*

The new GLE benefits from exciting new additional standard features including MBUX with Voice Control, dual-12.3" digital instrument cluster and 12.3" touchscreen multimedia displays, Mercedes-Benz Navigation, LED headlamps, HANDS-FREE ACCESS and a host of safety features, including Blind Spot Assist and Active Parking Assist.

Newly optional features such as the enlarged panoramic sliding sunroof with a 50% larger viewing area, 4-Zone Climate Control and Inductive Wireless Charging make the in-car experience even more luxurious for the driver and passengers. The new 9G-TRONIC 9-speed automatic transmission on all GLE models allows for faster, smoother and more efficient driving.

The new Mercedes-Benz GLE will be launched with a variety of engine offerings, including a 2.0L Inline-4 turbo engine for the GLE 350 and GLE 350 4MATIC that produces 255 hp and 273 lb-ft of torque. The new 3.0L inline six-cylinder turbo engine with EQ Boost in the GLE 450 4MATIC produces 362 hp and 369 lb-ft of torque and is systematically electrified with 48-volt technology. The Integrated- Starter Generator (ISG) is responsible for functions such as EQ Boost and energy recuperation while allowing fuel savings that were previously reserved for high- voltage hybrid technology.

Available on the GLE 450 4MATIC, the sophisticated E-ACTIVE BODY CONTROL suspension uses the Road Surface Scan and a curve inclination function that makes an extraordinary level of comfort possible. It is the only system on the market where the spring and damping forces can be individually controlled at each wheel. The suspension also introduces and enhances off-road capabilities. For example, the new Free-driving mode can quickly and automatically help rock the GLE free by raising and lowering the suspension level if it becomes bogged down.

The 2020 Mercedes-Benz GLE 350 4MATIC and GLE 450 4MATIC will be available in the U.S. starting in spring 2019, followed by the GLE 350 in summer 2019.

SOURCE: https://brandspurng.com/2018/11/29/mercedes-benz-announces-pricing-on-2020-mercedes-benz-gle/

At its debut four years ago, the AMG GT confidently sought out the competition on the world-wide sports car scene - and conquered a large part of the market. For the model year 2020, the top athlete from Affalterbach now comes to the starting line honed even further, and with the new limited edition AMG GT R PRO.

In addition to exterior updates, the two-door AMG GT Coupes and Roadsters will be fitted with the AMG DYNAMICS integrated driving control system for added agility, a new AMG Performance steering wheel, the center console with innovative display buttons from the AMG GT 4-Door Coupe and a fully digital instrument display with exclusive AMG "Supersport" display style on the instrument cluster.

The AMG GT R PRO was modified in numerous details to deliver even more racetrack performance: The lightweight construction, new suspension and aerodynamic fine-tuning result in even more downforce overall. Lightweight-design wheels also contribute to the enhanced driving dynamics and faster lap times on the racetrack.

"The AMG GT embodies the core of our brand, "Driving Performance," in a unique way. At its debut four years ago, it not only turned the heads of customers and sports car enthusiasts but also created new dimensions in the competitive environment. In order to continue this success story, we have now equipped it with numerous innovations from the AMG GT 4-Door Coupe and added a new limited-edition model: No other current production Mercedes- AMG is as close to motor racing as the new AMG GT R PRO. A lot of experience from our current GT3 and GT4 motorsport activities entered into its development.

The agile responses to all driver commands and the overall performance now deliver even more of that incomparable feeling that our racing drivers experience on the track," says Tobias Moers, Chairman of the Management Board of Mercedes-AMG GmbH.

Fully digital instrument display as standard.

As in the AMG GT 4-Door Coupe, the new telematics architecture in the two-door AMG GT models makes the innovative, standard fully digital instrument display with 12.3-inch instrument cluster and a 10.25-inch multimedia display on the centre console possible. The instrument cluster offers an entirely new screen design with the three AMG-specific display styles "Classic," "Sporty" or "Supersport." In the "Supersport" mode, there is also extensive additional information specific to AMG, such as a prompt borrowed from motorsport to shift up while in manual transmission mode. The newly designed visualizations in the multimedia display enable further vehicle functions to be experienced even more vividly, e.g. with an animated presentation of the driving assistance, vehicle and communication systems.

Via the left-hand touch control button on the steering wheel, preferred information can also be displayed on the left or right-hand side of the instrument panel – for example the classic speedometer and rev counter, navigation information or assistance systems through to detailed engine data. Sporty drivers can even fade in a g-force display or the current output and torque values.

SOURCE: https://brandspurng.com/2018/11/29/mercedes-amg-officially-reveals-the-all-new-gt-model-track-focused-amg-gt-r-pro/

The new A-Class is the benchmark of the compact car class. It remains youthful and dynamic as ever and is grown-up and comfortable like never before. Courtesy of the authorized general distributors of Mercedes-Benz in Nigeria, Weststar Associates Limited; the new A-Class is now available in the Nigerian market. Since its world premiere in March 2018, the new A-Class has solidified its position as the top choice for compact and comfort-oriented vehicles with more revolutionizing technology and an increased appeal to comfort and connectivity.

The Mercedes-Benz A-Class completely redefines modern luxury in the compact class and revolutionizes interior design. All models of the new A-Class are also powered by new, efficient petrol engines. And although Mercedes-Benz has retained the sporty appearance, the utility value has increased. Technologically the A-Class stands out among its competitors with MBUX – Mercedes-Benz User Experience, it offers a number of functions that were previously the preserve of the luxury class. Here are some key facts and features of the new A-Class.

The completely new multimedia system MBUX (Mercedes-Benz User Experience) in the A-Class creates an emotional connection between the vehicle, driver and passengers. It is enhanced with an inbuilt learning capability thanks to artificial intelligence and can also be personalized to the taste and needs of the driver. The MBUX multimedia system comes with a comprehensive touch operation by touchscreen, touchpad (optional) on the centre console and touches control buttons in the steering wheel, there is also an optional Intelligent voice control with natural language comprehension and activation using the keyword "Hey Mercedes". Other key features of the MBUX include a navigation display with MBUX augmented reality technology and new “Mercedes me” services.

The A-Class is highly distinguished in its segment with the intelligent drive system, for the first time, the A-Class is able to drive semi-autonomously in certain driving situations. It has also been able to achieve the highest safety standard in this segment thanks to extended driving assistance systems with S‑Class functions as optional equipment. Other features like the Active Distance Assist DISTRONIC and Active Steering Assist now support the driver even more conveniently in keeping a safe distance and steering, the vehicle speed is now also automatically adjusted on bends, at road junctions and on roundabouts. PRE-SAFE® PLUS can recognize an imminent rear-end collision. If the danger of a collision persists, the system can also firmly apply the brakes of the vehicle when stationary, thus minimizing the risk of injuries by reducing the forward jolt caused by an impact from the rear. There are also other additional features like the Active Emergency Stop Assist and the intuitively understandable Active Lane Change Assist.

Drivers are in for a treat as the A-Class is enhanced to give more driving pleasure and ride comfort compared to its predecessor. There is further improved suspension with MacPherson front suspension with aluminium transverse control arms and multi-link rear suspension. This is also further enhanced with 4MATIC and more powerful engine variants: four-link rear suspension. The active damping adjustment comes as an optional equipment with electronic control: in conjunction with the standard DYNAMIC SELECT (four driving modes), there is a choice of comfortable or sporty damping characteristics.

Modern luxury is redefined in the A-Class. The Avant-garde styling of the dashboard and a cockpit with no cowl create a unique architecture, the two displays measuring up to 10.25 inches (26 cm) each blend together under a shared glass cover (except with the basic variant with two 7‑inch displays) to form a completely free-standing Widescreen cockpit. There is also ambient lighting with 64 colours and illuminated air vents in a turbine look, this comes as an optional extra. There is more shoulder room (+9/+22 mm front/rear), elbow room (+35/+36 mm) and headroom (+7/+8 mm), as well as easier entry to the rear.

Speaking on the arrival of the new A-Class, MD/CEO Weststar Associates Limited, Mr. Mirko Plath declared; “The new A-Class takes personalization and social interaction to a whole new dynamic, the Mercedes-Benz User Experience (MBUX) gives drivers a whole new experience with the voice control feature and an inbuilt learning capability personalized to the taste and needs of the driver. The safety systems in the new A-Class are also best in its class with even more technological advancements and there is increased spaciousness in the front and the rear in comparison to its predecessor”.

With the fourth generation of the A-Class, Mercedes-Benz is redefining modern luxury in the compact class opting for a combination of uncompromisingly dynamic design and an intuitive operating concept. By focusing on people and making their lives easier, the A-Class becomes an emotively appealing and intelligent companion.

SOURCE: https://brandspurng.com/2018/11/28/the-new-a-class-debuts-in-nigeria-pictures/

CHARMED, a new movie from the stable of Verte View had it’s premiere last Thursday, 22nd November 2018 at the Genesis Deluxe Cinemas, The Palms, Lagos.

CHARMED is the story of David Hale a successful and cocky young man who has everything going for him until he suddenly begins to experience a run of bad luck after an encounter with the uncoordinated and carefree Lola Thomas.


https://www.youtube.com/watch?v=KkRBr8VhNdI

We all have negative “cause and effect” experiences either personally or through interactions with family and friends. Some people say it is Karma; some call it fate while others associate it with mere coincidence. But generally, the overpowering goal usually is to unravel the mystery (if any), resolve the issue and get back on course. CHARMED explores themes on friendship, love, ambition and career.

The cast of the new flick includes Nollywood rising stars such as Jimi Odukoya (David Hale) and Bimbo Ademoye (Lola Thomas) as the lead actors supported by Kingsley Ogboso, Elozonam, Omowunmi Dada, Chris Iheuwa, Moyo Lawal and BellaRose Okojie.

The well-attended premiere had in attendance the movie’s cast and crew, and stakeholders in the Nigerian entertainment industry.

CHARMED which was released in cinemas across Nigeria on 23rd November 2018 is written by Kemmie Ola, produced by Benjamin Abejide Adeniran and directed by Adeola Osunkojo.

Verte View is a Nigerian film production and film distribution company based in Lagos, Nigeria. CHARMED is our second production and the first feature movie. We are uber excited about this project and are looking forward to gracing your screens with more quality entertainment.

SOURCE: https://brandspurng.com/2018/11/26/get-charmed-in-the-cinemas/

Awesome...



https://www.youtube.com/watch?v=RrHQu_uReUg&t=7s