P+ Measurement Plans18th Edition of EvaluatePR Sept 24

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23/09/2021

Nigeria’s foremost media intelligence agency, P+ Measurement Services is set to host its quarterly edition of EvaluatePR as it welcomes all communications professionals around the globe to the 18^th edition of this event.

EvaluatePR is an informative event that will be honoured by communications and media monitoring professionals, who will be sharing their experiences, advice, insights, and quotes on Media Measurement, Monitoring, and Evaluation during the interactive session.

This edition will feature public relations and measurement practitioners which includes: Francois Van Dyk, Head of Operations, Ornico Group, Johannesburg, South Africa and Samuel O. Adeyemi, Lead Strategist, Media DNA, Nigeria, who together will share from their wealth of knowledge, experiences and insights to the theme of the event.

The 18th Edition of EvaluatePR, is scheduled to take place on Friday, September 24, 2021, with the theme “Media Monitoring & Measurement: An Essential Tool in Public Relations” between the hours of 12pm and 1pm (West African Time) on the Google Meet platform.

Jobberman, Mastercard Target 5m Job Seekers in Alliance for Better Work Initiative

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Business Journal

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22/09/2021

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Jobberman, a major job placement website in sub-Saharan Africa, has announced its Alliance for Better Work initiative, as part of its long-standing partnership with the Mastercard Foundation.

The employer-centred initiative is geared to radically bolster recruitment in Nigeria, with a focus on driving female hires and providing integrated end-to-end support on the easy-to-use online jobs’ platform.

Large corporations to SMEs in Lagos, Abuja, Kano and Kaduna will be able to capitalise on access to over 182,000 pre-vetted jobseekers between the age of 18-35, segmented by industry and qualification level and with a core focus on the agricultural, creative and digital sectors in Nigeria.

The Alliance for Better Work has been designed to improve job retention, workplace productivity, business development and, crucially, bridge the gap on gender unemployment which according to recent data is 35.2 percent compared to 31.8 percent for men. To-date, employers have faced challenges such as cost for training new employees, a flood of unfiltered applications and wide skills gap.

The campaign will run in parallel to Jobberman’s successful soft skills training program, which has already equipped 190,628 young people between the age of 18-35 for the workplace, as well as placing more than 82,600 in dignified employment.

The latest drive will see the pioneering platform draw from its leading expertise in the market to tackle both strands of recruitment with equal volition and on course to reach its target of securing employment for 3 million young people by 2025.

The Alliance will establish a commitment between Jobberman and employers in the agriculture, creative, digital, finance, healthcare, retail/FMCG, advertising and education sectors to #hirebetter and move beyond the inertia of costly recruitment processes.

According to Jobberman’s data insights, companies can spend an average of 4-6 weeks on their hiring process and cost an estimated 20-25 percent of the annual gross salary of a candidate to recruit.

The Alliance for Better Work is an exclusive recruitment club that gives employers access to the largest pool of trained quality candidates in the country, innovative end-to-end recruitment and post-hiring support, brand amplification, and exclusive rates, all tailored to companies’ specific needs.

Speaking on the initiative, Rolake Rosiji, CEO of Jobberman Nigeria said: “The Alliance for Better Work is ultimately about unlocking the competitive advantage of Nigerian companies, often lost in long and poor cycles of recruitment. By joining forces with Nigeria’s most astute companies we aim to set a standard of progressive recruitment practices that will allow businesses to flourish. Plus, this opens up the opportunity to accelerate our mandate with Young Africa works in placing trained young people in dignified work. Employees are a company’s greatest asset and Jobberman has the experience, the tools, platform and the resources to make this a reality for employers.”

Country Head Nigeria, Mastercard Foundation, Chidinma Lawanson added: “The Mastercard Foundations Young Africa strategy aims to give 10 million youth, and women access to dignified and fulfilling work in Nigeria – 70 percent of which must be women. The Foundation’s partnership with Jobberman is one of the many ways that we intend to achieve this. The launch of the Alliance for Better Work Campaign is intentional in filling the gap in the recruitment process, particularly as it pertains to gender unemployment. We look forward to seeing its impact.”

With over a decade in the recruitment business, Jobberman has used its platform to develop job seeker skill sets, identify gaps in the labour market and streamlined the hiring processes for employers.

The partnership with the Mastercard Foundation is steering transformative change in the issues surrounding unemployment in Nigeria. The partnership aims to train 5 million job seekers and place 3 million in dignified employment over the next five years.

About Jobberman

Founded in 2009, Jobberman is an online platform that provides training and placement for jobseekers, as well as the best selection of candidates for companies hiring. It is the single largest job placement website in sub-Saharan Africa and has the vision to become the leading source of talent in every market it operates in by simplifying job searching and talent acquisition; matching the right set of skills with employers’ needs.

About the Mastercard Foundation

The Mastercard Foundation works with visionary organisations to enable young people in Africa and in Indigenous communities in Canada to access dignified and fulfilling work. It is one of the largest, private foundations in the world with a mission to advance learning and promote financial inclusion to create an inclusive and equitable world. The Foundation was created by Mastercard in 2006 as an independent organisation with its Board of Directors and management.

ITU: COVID-19 Pandemic Worsens Global Digital Divide

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Business Journal

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22/09/2021

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More than a year and a half into the COVID-19 pandemic, amid relentless global demand for broadband services, the Broadband Commission for Sustainable Development has reaffirmed its call for digital co-operation, innovation with information and communication technologies (ICTs), and collaborative approaches to secure universal connectivity and access to digital skills.

State of Broadband 2021
Houlin Zhao, Secretary-General of the International Telecommunication Union (ITU) and Commission co-Vice Chair, warned that the pandemic had further exacerbated the global digital divide.
“I’m concerned that digital technologies and services, which have proven so essential during the crisis, are still out of reach, unaffordable, irrelevant, too complicated to use, or not secure enough for far too many people around the world,” he said. “I was pleased to see that the State of Broadband report calls for additional investments to advance progress towards universal access.”
Commissioners – recognising the increasing role of digital technologies in all facets of economic activity – shared current strategies to incentivize investment in digital literacy, connectivity, and skills. Discussions spanned joint actions, initiatives, and hands-on, replicable solutions to boost broadband connectivity, drive capacity and policy development, and address persistent disparities of access, affordability, adoption and use.
The Commission’s State of Broadband Report 2021, released during the meeting, outlines the impact of pandemic policies and calls for a concerted, people-centred push to close the world’s persistent divide. In the world’s least developed countries (LDCs), no more than a quarter of the population is online.
“Digital cooperation needs to go beyond access to broadband,” said H.E. President Paul Kagame of Rwanda, Co-Chair of the Commission. “We also need to close the gap in the adoption and use of affordable devices and services, in accessible content, and in digital literacy.”
More than 50 Commissioners and special guests, representing government leaders, heads of international organizations and private sector companies, civil society and academia, affirmed that people-centred solutions must be at the heart of building a sustainable path towards universal broadband.
Commission co-Chair Carlos Slim, Founder of Carlos Slim Foundation and Grupo Carso, added: “To achieve our universal connectivity goal, we need to work together. We need to build a digital future that is inclusive, affordable, safe, sustainable, meaningful and people centred. We need to support infrastructure and to deal with affordability and relevant content to ensure usage. For that to happen, it requires concerted efforts.”

Connectivity for Sustainable Development
The Annual Fall Meeting, held in a virtual format, underscored the need to accelerate digital connectivity to fulfil the United Nations Agenda for 2030, centred on 17 Sustainable Development Goals.
“The absence of digital skills remains the largest barrier to Internet use,” noted Audrey Azoulay, Director-General of the United Nations Educational, Scientific and Cultural Organisation (UNESCO) and co-Vice Chair of the Commission.

“Digital education must therefore be as much about gaining skills as about developing the ability to think critically in order to master the technical aspects and be able to distinguish between truth and falsehood.”
“UNESCO’s Media and Information Literacy curriculum, launched in Belgrade, Serbia, in April, provided a key tool to boost skills,” she added.
A newly released Commission report on distance and hybrid learning cites the need to foster digital skills along with expanding broadband infrastructure.
Need for Targeted Collaboration
Other key speakers included H.E. Minister Abdulla Shahid, President Elect of the 76^th Session of the UN General Assembly; Klaus Schwab, Executive Chairman and Founder of the World Economic Forum; and Maria Francesca Spatolisano, Interim Officer in Charge at the Office of the UN Secretary-General’s Special Envoy on Technology.
In view of the massive investments needed, the group exchanged views on collaborative and innovative financing approaches to make it “worth the risk” to fund universal connectivity.
In the world’s 46 LDCs, only 25 percent of the population is online, noted Courtney Rattray, Under Secretary General and High Representative for the LDCs, Landlocked Developing Countries and Small Island Developing States (UN-OHRLLS) and a newly appointed Commissioner.

He urged the Commission to prioritize connectivity in in those countries ahead of the Fifth UN Conference on the LDCs, set to happen in Doha, Qatar, in January 2022.

ITU: COVID-19 Pandemic Worsens Global Digital Divide

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Business Journal

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21/09/2021

0

More than a year and a half into the COVID-19 pandemic, amid relentless global demand for broadband services, the Broadband Commission for Sustainable Development has reaffirmed its call for digital co-operation, innovation with information and communication technologies (ICTs), and collaborative approaches to secure universal connectivity and access to digital skills.

State of Broadband 2021
Houlin Zhao, Secretary-General of the International Telecommunication Union (ITU) and Commission co-Vice Chair, warned that the pandemic had further exacerbated the global digital divide.
“I’m concerned that digital technologies and services, which have proven so essential during the crisis, are still out of reach, unaffordable, irrelevant, too complicated to use, or not secure enough for far too many people around the world,” he said. “I was pleased to see that the State of Broadband report calls for additional investments to advance progress towards universal access.”
Commissioners – recognising the increasing role of digital technologies in all facets of economic activity – shared current strategies to incentivize investment in digital literacy, connectivity, and skills. Discussions spanned joint actions, initiatives, and hands-on, replicable solutions to boost broadband connectivity, drive capacity and policy development, and address persistent disparities of access, affordability, adoption and use.
The Commission’s State of Broadband Report 2021, released during the meeting, outlines the impact of pandemic policies and calls for a concerted, people-centred push to close the world’s persistent divide. In the world’s least developed countries (LDCs), no more than a quarter of the population is online.
“Digital cooperation needs to go beyond access to broadband,” said H.E. President Paul Kagame of Rwanda, Co-Chair of the Commission. “We also need to close the gap in the adoption and use of affordable devices and services, in accessible content, and in digital literacy.”
More than 50 Commissioners and special guests, representing government leaders, heads of international organizations and private sector companies, civil society and academia, affirmed that people-centred solutions must be at the heart of building a sustainable path towards universal broadband.
Commission co-Chair Carlos Slim, Founder of Carlos Slim Foundation and Grupo Carso, added: “To achieve our universal connectivity goal, we need to work together. We need to build a digital future that is inclusive, affordable, safe, sustainable, meaningful and people centred. We need to support infrastructure and to deal with affordability and relevant content to ensure usage. For that to happen, it requires concerted efforts.”

Connectivity for Sustainable Development
The Annual Fall Meeting, held in a virtual format, underscored the need to accelerate digital connectivity to fulfil the United Nations Agenda for 2030, centred on 17 Sustainable Development Goals.
“The absence of digital skills remains the largest barrier to Internet use,” noted Audrey Azoulay, Director-General of the United Nations Educational, Scientific and Cultural Organisation (UNESCO) and co-Vice Chair of the Commission.

“Digital education must therefore be as much about gaining skills as about developing the ability to think critically in order to master the technical aspects and be able to distinguish between truth and falsehood.”
“UNESCO’s Media and Information Literacy curriculum, launched in Belgrade, Serbia, in April, provided a key tool to boost skills,” she added.
A newly released Commission report on distance and hybrid learning cites the need to foster digital skills along with expanding broadband infrastructure.

Need for Targeted Collaboration
Other key speakers included H.E. Minister Abdulla Shahid, President Elect of the 76^th Session of the UN General Assembly; Klaus Schwab, Executive Chairman and Founder of the World Economic Forum; and Maria Francesca Spatolisano, Interim Officer in Charge at the Office of the UN Secretary-General’s Special Envoy on Technology.
In view of the massive investments needed, the group exchanged views on collaborative and innovative financing approaches to make it “worth the risk” to fund universal connectivity.
In the world’s 46 LDCs, only 25 percent of the population is online, noted Courtney Rattray, Under Secretary General and High Representative for the LDCs, Landlocked Developing Countries and Small Island Developing States (UN-OHRLLS) and a newly appointed Commissioner.

He urged the Commission to prioritize connectivity in in those countries ahead of the Fifth UN Conference on the LDCs, set to happen in Doha, Qatar, in January 2022.

Digital Inclusion: Bridging the Digital Divide by 2030

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Business Journal

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21/09/2021

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Professor Umar Danbatta

Executive Vice-Chairman

Nigerian Communications Commission

The International Telecommunication Union (ITU) has announced the launch of the Partner2Connect Digital Coalition to foster meaningful connectivity and digital transformation in the world’s hardest-to-connect countries.
These include the Least Developed Countries, Landlocked Developing Countries, and Small Island Developing States – groups facing specific development challenges and designated for priority assistance in pursuit of the United Nations-backed Sustainable Development Goals (SDGs) for 2030.
The world’s 46 least developed countries (LDCs) are struggling to extend connectivity to all their citizens – even as pandemic conditions push economic, educational, and social activities increasingly online.
“The COVID-19 pandemic has impacted the least developed countries in unprecedented, profound, and disproportionate ways,” said the ITU Secretary-General, Houlin Zhao.

“Through partnerships with UN agencies, ITU aims to support the LDCs in the face of this challenge, harness the power of digital technologies, and turn today’s digital transformation into a development transformation for all.”
While Internet coverage and affordability are gradually improving in some LDCs, only 25% of people across all LDCs have started using the Internet. Another 50% are theoretically able to access the Internet but are not using it, according to the latest data on Internet connectivity worldwide.
Doreen Bogdan-Martin, Director of the ITU Telecommunication Development Bureau, said: “In the wake of the COVID-19 pandemic, ITU has re-doubled its efforts to help countries rapidly expand connectivity to connect the 3.7 billion people who are still offline, along with the millions of communities around the world where connectivity is still too poor to offer meaningful benefits. Based on the principles of inclusion, partnership and SDG-focused digital development, the Partner2Connect Coalition can pave the way to the Global Digital Compact and the 2023 UN Summit of the Future.”
The compact and the summit are among the main milestones in the UN Common Agenda presented this month by the UN Secretary General, António Guterres.
“The new coalition recognizes that progress can only be achieved through a multi-stakeholder based approach,” Bogdan-Martin added.

Usage Gap Widest in LDCs
A new report, Connectivity in Least Developed Countries – Status report 2021, highlights the persistent digital divide within LDCs.
The report, released at the Digital Coalition kick-off, was produced jointly by ITU and the United Nations Office of the High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States (UN-OHRLLS).
“Many LDCs are losing out on opportunities associated with the digital economy – and they shouldn’t have to,” said Courtenay Rattray, UN High Representative for OHRLLS. “The reasons go beyond access to broadband connectivity. They speak to the critical issue of Internet usage, which has to do with affordability, skills and the amount of local content. Enabling more people to get online and to use the internet productively will help deliver massive payoffs, not only in e-commerce but everything from education and health to governance.”
Along with affordability, the root causes of the wide usage gap include low awareness about the benefits of the Internet, lack of access to devices, insufficient skills, low content relevance, and lack of appropriate regulation.

Working to Drive Digital Transformation
The Partner2Connect Digital Coalition aims to create a platform for global leadership to mobilise commitments, resources, and partnerships, and to implement solutions and projects, to drive digital transformation. Leaders from government, international organizations, and the private sector, as well as youth representatives, gathered from across the globe in a virtual launch meeting, sharing their visions of advancing connectivity to drive socio-economic development.
Coalition actions will focus on four key areas: connecting people everywhere; empowering communities; building digital ecosystems; and incentivizing investments.
Each focus area will be supported by a working group.
In line with the UN Secretary General’s Roadmap for Digital Cooperation, the Partner2Connect Digital Coalition has received support from the Office of the Secretary-General’s Envoy on Technology.
The coalition will also coordinate closely with the Broadband Commission for Sustainable Development.
Convened by ITU, the four working groups will meet on a regular basis to discuss issues, define key actions, and make recommendations to advance coalition aims in each focus area.

Committed to Progress
The coalition will work through a pledge and commitment mechanism set to be launched in early 2022, proving a platform for governments, private sector companies, philanthropic entities, UN agencies, international or regional organizations, civil society, youth organizations and academia to make financial, policy, advocacy, and programmatic pledges.
A tracking system will be developed to monitor implementation and report on a regular basis on progress and impact achieved.
The coalition preparatory process, starting today, will help refine the governance and pledge models ahead of the Partner2Connect Digital Development Roundtable, set to take place next year on 7-9 June during the ITU World Telecommunication Development Conference (WTDC, 6-15 June 2022).
The Partner2Connect Digital Coalition builds on the outcomes of the first chapter of the Road to Addis discussion series, organised by ITU to build momentum towards the WTDC. The second chapter of the series looks at the four Partner2Connect Digital Coalition focus areas, with events planned between November 2021 and May 2022.

African Alliance: 50% Growth Target in 2021, N3.2bn Premium, DIY Portal

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Business Journal

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21/09/2021

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Amaka Ogbedaigo, Chair, Event Organising Committee, NCRIB South-South Area Committee; Ayodeji Johnson, Guest Speaker; Joyce Edmund, Vice-Chairman, NCRIB South-South Area Committee; Joseph Olayeni, Chair, NCRIB South-South Area Committee; Joyce Ojemudia, MD/CEO; Amaka Okafor, Head, Northern Region and Emmanuel Eburajolor; Head, Corporate Marketing, all of African Alliance Insurance PLC at the recent NCRIB SSAC Members’ Evening hosted by the Life Insurer.

Foremost life insurer, African Alliance Insurance Plc, has developed an innovative self-service portal to ease seamless transactions between insurer and brokers.

This was disclosed at the Members Evening of the Nigerian Council of Registered Insurance Brokers, South-South Area Committee, held in Port Harcourt recently hosted by African Alliance Insurance.

Joyce Ojemudia, the firm’s Managing Director/Chief Executive Officer, while addressing the body of brokers in the region said, “the self-service policy platform is customised for all brokers to buy end-to-end from the comfort of their offices. This is one of the ways we are embedding technology in our business just so we can achieve seamless service delivery and customer satisfaction while speeding up the underwriting process.”

She also reiterated the company’s quest to achieve a minimum of 50 percent growth in its market share by the end of the year.

“Progress is what we are all about and as the figures show, we are making loads of progress. In the same period, we paid N3.12 billion in claims, a 29 percent increase from the N2.43 billion we paid same period last year while our Gross Premium Income rose from N1.8 billion to N3.2 billion, representing a 66 percent increase year on year. These figures are the reasons we have embarked on an aggressive market expansion campaign with a view to consolidating our all-round progress across board.”

Earlier in her remarks, she thanked the body of brokers for their unstinting support whilst seeking for better relationship and a most mutually beneficial strategic business engagement, “we thank everyone here present who has partnered with us and aided our progress month by month, quarter by quarter. We do not take this for granted,” she added.

In his welcome address, Joseph Olaniyan, the Chairman of the NCRIB South-South Area Committee, commended the management of African Alliance Insurance for the giant strides they have made especially in the last one year.

“We at the South-South Area Committee have felt and experienced a major turnaround in African Alliance and I can assure you today, personally and as a group, that we will do more business with African Alliance Insurance in the coming days because for us, we want to do business with the firm that can assure us of their unwavering quality service delivery at all times.”

About African Alliance Plc

Incorporated in 1960 to transact life businesses in Nigeria, African Alliance Insurance PLC has grown in leaps and bounds providing succour for individuals and aiding businesses across the country for over six decades.

Recently, the firm deepened its retail footprints with the opening of two new branches in Abeokuta and Akure in a bid to drive its market expansion strategy whilst bringing insurance closer to the people of the ancient cities.

Union Bank, Ex-CEO Charged by EFCC over N2bn Fraud

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19/09/2021

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Union Bank of Nigeria Plc is in the crosshairs of the Economic and Financial Crimes Commission (EFCC) over an alleged N1.9 billion fraud involving its recently retired CEO, Mr. Emeka Emuwa and two other senior officials.

Already, the EFCC has filed a five-count charge (suit No: ID/14355C/2021of February 17, 2021) against Emuwa, Mr. Adeoya Oluwagenga and Mrs. Oyinkan Adewale before a Lagos High Court on the charge of conspiracy and stealing. The trio were alleged to have converted the said N1,927,836,804 belonging to Aso Savings and Loans Plc in 2014.

The EFCC action came as a result of a petition by the law firm of AEC Legal from April 5, 2018 thus: “Criminal Complaint of Fraudulent Misrepresentation And Diversion Of N1,927,836,8049 (One Billion, Nine Hundred And Twenty Seven Million, Eight Hundred And Thirty Six Thousand, Eight Hundred And Four Naira) And Criminal Conspiracy To Defraud By Mr. Emeka Emuwa And Other Principal Officers Of Union Bank Of Nigeria Plc. We make this criminal complaint of misrepresentation and diversion against Mr Emeka Emuwa, the managing director of Union Bank of Nigeria Plc and other principal officers of Union Bank Nigeria Plc with address at Stallion House 36, Marina Lagos. Mr Emeka Emuwa and other principals of Union Bank of Nigeria Plc sold Union Homes Savings & Loans Plc (UHSL) to our client (Aso Savings and Loans PLC) for the total sum of N5 billion. At the time of negotiations of the sale and purchase agreement of the UHSL, our client was informed that UHSL’s shares in Union Assurance company PLC, valued at N1,134,615, 384 formed part of its asset of UHSL to be acquired by our client.It therefore came as a shock to our client to discover, upon the conclusion of sales, that Emeka Emuwa and other principal officers of the bank had sold off UHSL’s shares in Union Assurance Plc to Greenoaks Global Holdings Limited and realised that the sum of N1,927,836,804 from the sale. More shocking is that there are no records whatsoever showing that the proceeds of sale of the Union Assurance Plc was paid into UHSL’s account or financial records. Our client has confronted Emeka Emuwa with this allegation but he has failed to proffer any explanation nor made any attempt to account for the proceeds of the sale. It is obvious that Mr Emuwa and his cohorts fraudulently diverted our client’s money in the tune of N1,927,836,804 and have no intentions of returning same.”

The court’s proceeding on the matter was adjourned to September 21, 2021.

World Bank Dumps Doing Business Report over Data Irregularities

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17/09/2021

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The World Bank Group issued the following statement on the Doing Business report:

“Trust in the research of the World Bank Group is vital. World Bank Group research informs the actions of policymakers, helps countries make better-informed decisions, and allows stakeholders to measure economic and social improvements more accurately. Such research has also been a valuable tool for the private sector, civil society, academia, journalists, and others, broadening understanding of global issues.

After data irregularities on Doing Business 2018 and 2020 were reported internally in June 2020, World Bank management paused the next Doing Business report and initiated a series of reviews and audits of the report and its methodology. In addition, because the internal reports raised ethical matters, including the conduct of former Board officials as well as current and/or former Bank staff, management reported the allegations to the Bank’s appropriate internal accountability mechanisms. 

After reviewing all the information available to date on Doing Business, including the findings of past reviews, audits, and the report the Bank released today on behalf of the Board of Executive Directors, World Bank Group management has taken the decision to discontinue the Doing Business report. The World Bank Group remains firmly committed to advancing the role of the private sector in development and providing support to governments to design the regulatory environment that supports this. Going forward, we will be working on a new approach to assessing the business and investment climate. We are deeply grateful to the efforts of the many staff members who have worked diligently to advance the business climate agenda, and we look forward to harnessing their energies and abilities in new ways.”

How to Buy Property Cheap Using PRE-LAUNCH Strategy

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17/09/2021

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By Dennis Isong

The high cost of housing has become a source of concern for most real estate investors. This scenario, combined with the rising cost of building materials, has pushed many home buyers to look for a cheaper alternative to acquire homes at a discounted rate.

This low-cost property acquisition option is available in pre-launch, launching or introduction, and post-launch prices. These prices are the result of a home’s various discount variations as it is completed in stages.

Essentially, purchasing a home early on is less expensive than doing so later on, when the price is bound to rise.

Ways to Spot Home Discounts

As a real estate professional, I know the process of looking for a home to buy is typically difficult, and most property investors are unable to execute this house haunting flawlessly. But some property investment companies, both public and private, do advertise their home-for-sale products in newspapers, magazines, and publications.

Furthermore, real estate online sites are another way to find good deals on property in Nigeria. In rare cases, you may have the opportunity to meet the developer while the home is being built. A deal can be finalized at this point, but you must act quickly because the longer you wait, the higher the price becomes.

One of the easy ways is to connect to a realtor because some of these realtors usually get first class information from developers before the public knows

Pre-launch and Early Bid

There is no better time to get the best deal on a home than during its pre-launch phase. During this early stage, homebuyers typically receive a 15% to 25% discount, which may be higher or lower depending on the scope and cost of the house project.

However, available slots during this time are limited, and it is always a time for property companies to assess the general public’s reaction to the project.

In addition, when a homebuyer expresses an interest in purchasing a home during this stage, the real estate company rewards the person for taking a risk by lowering the building’s purchase price. This is one of the primary reasons why home prices are currently appealing. All of this is done to compensate customers who have different reasons for purchasing the home.

One of the reasons could be that the buyer is in the property marketing business, wants to buy them as resident apartments, or wants to lease them. Following the goodwill customers, company begins to generate cash flow through bookings, reservations, and deals.

Launching or Introduction Phase

This is the stage at which the developer sells the house to a prospective buyer at a formal event. At this point, the brokers, who act as middlemen in the marketing chain, make the necessary arrangements and are tasked with ensuring that an agreement is reached between the company and the buyer.

Also, during this stage, most real estate agencies offer discounts ranging from 10% to 17%; however, for smaller projects, the home discount may reach 20%.

This is an important phase because it marks the time when the terms and conditions of the home are agreed upon. Legal actions are also carried out in accordance with the law, as both the company and the client will sign the contract papers in the presence of their respective legal representatives.

Once everything is in order, both the homebuyer and the property agency can set a date for the building’s official transfer of ownership. Meanwhile, because the house is not yet finished at this point, there is some execution risk.

If things go wrong, the homebuyer will be refunded in full or depending on the agreement, which is when the role of a legal practitioner comes into play; but this is a rare occurrence. Nonetheless, demand is targeted at this point, and homebuyers are rewarded with discounts for their time, patience, and risk.

Post-Launch Phase

This is the stage at which the developer completes the home project and presents it in marketable ready-made form.

During the post-launch phase, the house is open to the public and the price is set. This is due to the fact that the home has been completed and is well furnished, so the risk involved in this stage is minimal. Regardless, legal counsel is involved because there are instances where the real estate agency may wish to take advantage of the buyer.

This is also the time when the property will be advertised in newspapers and on television for marketing purposes.

Risk Analysis

Risk is an inherent component of all businesses, including real estate. Early investments in real estate are more risky than later ones, and they are also heavily discounted.

When an investor takes a risk by placing an early bid on a home project during its pre-launch phase, he or she will almost certainly be rewarded with a discount.

Many homebuyers are hesitant to purchase a home at this early stage due to concerns about some unfavorable factors. Those who can muster the courage to invest in such circumstances are the prepared risk-takers.

However, as a project progresses, the risk involved decreases. Buyers are less risk-averse at this stage because the sole purpose of the house-building project will be revealed to the general public. In fact, property experts advise homebuyers to seek the advice and services of a professional real estate advisor before purchasing a home during its pre-launch phase.

This is done for evaluation purposes, and it also protects investors from being duped. Nonetheless, adhering to the proper legal and formal procedures will ensure that risks are minimized. Two important documents used to verify the genuineness of the seller are:

Intimation of Disapproval (IOD) Papers: This contains information about the developer’s different approvals by responsible government authorities;

Commencement Certificate (CC): This document authorises the developer to start work on the home construction project.

Conclusion

Using the pre-launch strategy to purchase a property is a better way to save money on real estate investment. Though it is riskier than buying it ready-made that is why you need a real estate professional to advice.

The reasonable discount involved is too tempting and enticing for most real estate businessmen to resist. Furthermore, property investors who use this home buying method stand a good chance of saving up to 25% of their investment.

When combined with its growing trend, the real estate sector may undergo a paradigm shift, and this development may continue to thrive into the near future.

Dennis Isong Helps Individuals Invest Right In Real Estate. For Questions On This Article Or Enquiring About Real Estate Email: [email protected] or Whatsapp/Call

Global Pension Assets Rose to $35Tr in 2020 Despite COVID-19

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Business Journal

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16/09/2021

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Aisha Dahir-Umar

Director-General

National Pension Commission (PenCom)

Preliminary data for 2020 shows that pension funds held over $35 trillion of assets worldwide at end-2020, exceeding 2019 levels despite the headwinds due to COVID-19, according to Pension Funds in Figures.

Pension fund assets grew by nearly nine percent in the OECD area to reach $34.2 trillion at end-2020. Outside the OECD area, pension fund assets amounted to $0.8 trillion at end-2020 in a group of 31 jurisdictions, just over one percent more than at end-2019.

Pension fund assets continued to rise in 2020 in almost all countries. This increase was supported by capital gains in financial markets and government measures that helped members to continue participating in their pension plans.

Some of the strongest asset rises in nominal terms occurred in Georgia (over 100%) where participation in a 2 nd pillar pension scheme has become mandatory since 1 January 2019, and France (84%) where insurance companies have started creating and transferring pension business to FRPS (i.e. a newly authorised vehicle that is a pension fund).

Only 5 out of 68 jurisdictions reported a decrease in pension fund assets: Australia (-1.2% between end-June 2019 and end-June 2020), Poland (-3.7%), Chile (-5.2%), Jamaica (-5.7%) and Peru (-5.7%).

While investment losses in financial markets contributed to this decline in Australia (at end-June 2020), Jamaica and Poland, pension funds in Chile and Peru experienced significant outflows as members took advantage of the repeated opportunities granted during the COVID-19 outbreak to withdraw part of their savings from their individual accounts.

The amount of assets in pension funds varies greatly by country, with seven countries in the OECD area responsible for more than 90% of pension fund assets: the United States (USD 20.1 trillion), the United Kingdom (USD 3.2 trillion), the Netherlands (USD 2.1 trillion), Australia (USD 1.8 trillion), Canada (USD 1.6 trillion), Japan (USD 1.5 trillion) and Switzerland (USD 1.2 trillion).

Ecobank Nigeria: Four Millionaires in Super Reward Scheme

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Business Journal

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15/09/2021

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Ecobank Nigeria has presented grand prize of N1 million cheque each to the four winners that emerged at the end of its Super Reward Scheme.

The Bank says the campaign was to reward customers’ loyalty. For equitable representation of its customers’ base, the Bank segmented the country into four regions including Lagos, Federal Capital Territory (FCT)/North, Mid-west/South-West and South-South/South-East regions where one millionaire each emerged based on highest deposit and transaction value within the campaign duration.

At the end of the four months campaign, 800 customers won N25,000 weekly in batches of 50 per week while four millionaires emerged in each of the four delineated regions.

The four winners are:

Tsoho Alaye, FCT/Northern Region
Badero Modupe Olufunmilayo, Lagos Region
Omiwole Damilare Daniel, Midwest and South-West Region
Hayford Gogo Lawson, South-East and South-South

Africa, ME PC Market Faces 7.2% Decline in H2 2021

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Business Journal

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15/09/2021

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The Middle East and Africa (MEA) personal computer (PCD) market, which is made up of desktops, notebooks, workstations, and tablets, is expected to see shipments decline of 7.2% year on year for the second half of 2021, according to industry analysis conducted by International Data Corporation (IDC). The global technology research and consulting firm’s latest Quarterly PCD Tracker shows that a total of 11.1 million units will be shipped across the region in H2 2021.
“The decline is expected to stem entirely from the consumer segment,” says Fouad Charakla, IDC’s senior research manager for client devices in the Middle East, Turkey, and Africa. “With many schools across the region beginning to resume face-to-face learning, demand for personal computing devices from the consumer segment is expected to slow down, particularly as many students have already purchased such devices since the COVID-19 pandemic began.
“On the other hand, many organisations across the region are continuing with remote working practices or implementing hybrid working models. As a result, demand for personal computing devices from the commercial segment is expected to continue growing.
“Looking at the overall picture, each of the region’s key markets – including Turkey, Saudi Arabia, and the UAE – will experience a year-on-year decline in PCD shipments for H2 2021. The notable exception will be South Africa, which will see a recovery from the slowdown it experienced during H22020.”

Stanbic IBTC CEO Commends RetireFit Participants

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Business Journal

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15/09/2021

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Chief Executive, Stanbic IBTC Holdings, Demola Sogunle while addressing participants at the recently held “RetireFit 1.0” stated that, “It warms my heart to see so many of you logged on to participate in today’s fitness session. On behalf of all of us at Stanbic IBTC, I say a big thank you and welcome. It is 9 am, and you could be in bed getting the much-needed rest after a long work week. We are delighted that you have chosen to share a part of your morning with us instead.”

“At Stanbic IBTC, we recognise that keeping fit is an essential part of your wellbeing journey, hence, our reason for organising this event. As the theme implies, “RetireFit” is our attempt to encourage as many people as possible to adopt a healthy lifestyle that optimises their wellbeing beyond their active work life. To us, retiring fit incorporates healthy living, being physically active with strategic financial planning for the future.

We already run virtual Financial Fitness sessions where we provide our clients with relevant insights to help them make informed financial decisions, maximise their earnings today and secure their livelihoods in their post work lives.

We are taking it a step further to give you the opportunity to physically practice some of the health and wellbeing tips we share at those sessions. This we hope will be a clear reminder to pay attention to self-care and be physically active just as we mind our money. Our sole desire is to see more people become physically and financially fit, as these two factors contribute to the general health and wellbeing of our clients.

I am pleased that you have joined this session today and I assure you that you are in for an exciting 50 minutes. First, Kemen Fitness will take us through a hopefully not-too-rigorous workout session to get our blood pumping and afterwards, Kate will lead the conversation with our experts to share tips on optimising our wellbeing and wealth.

Bring your family together, send the registration link to your friends who are not here yet, and together, let us have as many people as possible join in the workout with Stanbic IBTC.”

CBN Chief, Godwin Emefiele, to Headline FICAN Summit on SME financing

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Business Journal

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15/09/2021

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Godwin Emefiele

Governor

Central Bank of Nigeria

The Central Bank of Nigeria (CBN) and the Nigeria Sovereign Investment Authority (NSIA) are set to lead discussion at a summit on Infrastructure, Small and Medium Scale Enterprises (SMEs) financing.

The summit is part of activities marking the 30th Anniversary celebration and 2021 Annual Conference of the Finance Correspondents Association of Nigeria (FICAN).

A statement from the Association said the theme of the conference scheduled to hold on September 25th and 26th, 2021 at Ikeja Lagos is: “Financing Infrastructure & SMEs for Inclusive Growth in Post-COVID-19 Economy.”

It would bring together leaders in the banking, technology, SMEs fields, including regulators and government agencies as they explore areas Nigeria can mobilise patient funds for infrastructure development and upgrade.

Infrastructure is critical to Nigeria’s sustainable economic growth as it is the pivot on which the wheel of other economic activities rotate. But, over the years, its financing has been a challenge.

Incidentally, financing the SMEs sector is also a challenge, thereby highlighting the fact that almost every sector of the Nigerian economy is in dare need of adequate infrastructure.

The statement further revealed that seasoned experts and leaders in the financial services sector will serve as panelists in the media interactive session with sub-themes: Synergising monetary and fiscal policy for economic sustainability;

Filling infrastructure gap in face of rising debts; Financing SMEs in the new normal; mobilising funds from the capital market and Financing Nigeria health sector in post Covid-19 economy.

Minister of Finance, Budget and National Planning Mrs. Zainab Ahmed is expected to give opening remarks while Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele will deliver the keynote address.

The Managing Director NSIA, Mr. Uche Orji will be the guest speaker while Panelists will include: Mr. Ifie Sekibo, Managing Director, Heritage Bank; Managing Director FMDQ Mr. Bola Onadele-Koko, Director General, Debt Management Office, Ms Patience Oniha; Managing Director, Fidelity Bank, Mrs. Nneka Onyeali Ikpe, officials of the CBN, Managing Director NSIA, Mr. Uche Orji; Chairman of the Foundation for Economic Research and Training (FERT) Lagos Professor Akpan Ekpo.

The event will also feature awards and recognitions to corporate bodies and individuals who have supported the Association over the years. Recognitions will be made to past national chairmen of FICAN for their unique service and dynamism in sustaining the vision of the Association.

The conference will be attended by the umbrella body of finance journalists and business editors, covering money market, capital market and the insurance industry, from the print, online and electronic media, it noted.

NCC: Launch of EVC’s Compendium, New Strategic Vision

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Business Journal

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13/09/2021

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The Minister of Communications and Digital Economy, Dr. Isa Ali Ibrahim Pantami, the EVC/CEO of NCC, Prof. Umar Garba Danbatta, Board Chairman and Commissioners and other dignitaries at the Joint Launch of NCC’s new Strategic Vision (Implementation) Plan (SVP), The EVC’s Compendium and NCC Global Connect Podcast at the Communications and Digital Economy Complex, Mbora, Abuja.

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