NGE Strongly Condemns Mace Whisking Incident in Senate

20/04/2018

Funke Egbemode
President
Nigerian Guild of Editors

On Wednesday, April 18, 2018, Nigerians watched in shock as yet another charade unfolded in the Senate with the snatching of the Mace in the Senate, the symbol of authority from the Red Chamber, by alleged thugs.

Even more reprehensible is the confirmation by the Nigerian Senate that this dastardly act was perpetrated on the instruction of an elected representative of the people.

The Nigerian Guild of Editors (NGE) condemns in very strong terms, any and every act that constitutes an affront to or assault on our fledgling democracy!

Such brigandage and acts akin to hooliganism, as was witnessed on Wednesday, run contrary to the concepts and tenets of the democracy that the Fourth Estate of the Realm struggled to enshrine in our country!

The NGE, like other law-abiding organisations, agencies and persons across all strata, demand that the perpetrators be tracked, arrested and tried in accordance with the country’s constitutional provisions.

The NGE notes and commends the Nigeria Police for swiftly responding to the emergent crisis. However, all security agencies are again enjoined to as a matter of urgency, renew their commitment and restrategise to forestall a recurrence, not only in the National Assembly but throughout the country.

The NGE also reminds all officials, elected or appointed and across all tiers of government, to remember their oath of office, as well as the confidence and trust reposed in them by the Nigerian people.

At all times, their words and deeds must exemplify the highest level of decency, decorum, responsibility and stewardship, in order to remain worthy of the people’s faith and trust.

The NGE restates it’s commitment to promote issues that will deepen sustainable democracy in Nigeria. In this regard, NGE calls on all other constitutional realms to diligently and selflessly play their parts to achieve this goal for our fatherland.

NSE Employees Donates to SOS Children’s Village

Business Journal

20/04/2018

L – R shows Temitayo Ade-Peters, Team Lead, CSR, The Nigerian Stock Exchange (NSE); Mr. Gboyega Fadowole-Aje, National Fund Development & Communication Coordinator, SOS Children’s Villages Nigeria and Olumide Orojimi, Head, Corporate Communications Department, NSE during the presentation of cheque to SOS Children’s Village yesterday in Lagos.

L – R shows Mrs. Temitayo Ade-Peters, Team Lead, CSR, The Nigerian Stock Exchange (NSE); Mr. Gboyega Fadowole-Aje, National Fund Development & Communication Coordinator, SOS Children’s Villages Nigeria; Mr. Olumide Orojimi, Head, Corporate Communications Department, NSE and Mr. Ayodeji Adelopo, Programme Director, SOS Children’s Villages Nigeria, Lagos Programme during the presentation of cheque to SOS Children’s Village yesterday in Lagos.

As part of its Employee Give-Back Drive, during the last Easter celebrations, employees of The Nigerian Stock Exchange (“NSE” or “Exchange”) came together to donate money to fund medical bills for 10 children in SOS Children’s Village, Lagos, an initiative which aligns with the Exchange’s Corporate Social Responsibility strategy.

The SOS Children’s Village was established in Nigeria in 1970.The villages are uniquely set-up to provide a home setting for orphans and vulnerable children. An SOS Children’s Village in Nigeria has 10 -12 family houses, each with a mother. Other amenities include medical facilities, kindergarten and primary schools, as well as vocational training centers that offer courses in various educational and vocational skills.

While presenting the cheque to SOS Children’s Village, Mr. Olumide Orojimi, Head, Corporate Communications, The Nigerian Stock Exchange said:

“This gesture is part of the annual employee give-back initiative of the NSE. Giving of money, time and other essentials to the less-privileged is a culture at NSE. Just as the Exchange, promotes the welfare of the people in its host communities, our employees are always very willing to do the same. We are very happy to support SOS and we believe this gesture will assist to improve the total wellbeing of the children and specifically, the provision of medical service for an entire year.”

The Exchange, as part of its Corporate Social Responsibility (CSR) strategy instituted an Employee Volunteering Scheme and Employee Give-Back Initiative in 2015, to encourage employees to give back to the community whilst providing them with hands-on experience and the opportunity to make worthwhile difference to their operating community. For the flagship scheme, the Pacelli School for the Blind and Partially Sighted Children, Lagos, Heart of Gold Children s Hospice, Lagos and Regina Mundi Home for the Elderly, Lagos were chosen as beneficiaries.

In 2017, under this scheme, NSE employees donated various food and household items to charities across the country including The Lagos Food Bank Initiative, Agege, Lagos, Total Parental Guidance Orphanage, Ibadan, Oyo State and Christian Relief Fund Motherless Babies Home, Obosi, Anambra State, all selected based on employees nomination and were selected via a random ballot system

Also in line with the Exchange’s commitment to Financial Literacy, employees volunteered their time teaching students financial matters both at the Exchange, during school excursions and at different learning centres including Wesley School for the Hearing Impaired Children

The Exchange continues to build a sustainable capital market by championing sustainability along four key impact areas of Marketplace, its platform for promoting market-based approach to Environmental, Social and Governance (ESG) imperatives; Community, where the NSE makes contributions to positively impact lives; Workplace, through which the Exchange facilitates diversity, wellbeing and harness the talent and skills of its people; and the Environment as it focuses on reducing its environmental impact.

Pension Operators, PenOp, Elects New EXCO

Business Journal

20/04/2018

Members of PenOp Executive Committee

L-R: PenOp Executive Secretary, Susan Oranye and PenOp President, Aderonke Adedeji (Leadway Pensure M/D).

The Pension Fund Operators Association of Nigeria (PenOp) held its 6^th Annual General Meeting in Lagos on the 13^th of April.

During the AGM, the results of the recently held elections were announced and a newly elected Executive Committee was ushered in.

The new members of PENOP EXCO are as follows:

PenOp President – Mrs. Aderonke Adedeji (Leadway Pensure)
Vice President – Mr. Akeeb Akinola (Shell CPFA)
Head, Branding Committee – Mr. Wale Odutola (ARM Pensions)
Head, Legal & Regulatory Committee – Dr. Hamza Sule Wuro Bokki (NPF Pensions)
Head, Technical Committee – Mr. Dapo Akisanya (AxaMansard Pensions)
Treasurer – Mr. Chinedu Ekeocha (Diamond PFC)

This is the first time PenOp is having a Female President and we are proud to showcase this, especially in light of the recent focus on gender issues globally.

We have great confidence that the new EXCO will carry on the excellent work done by past EXCOs of the Association in driving the growth of the Nigeria pensions industry.

Sterling Bank: N133bn Earning Caps Impressive 2017 Performance

Business Journal

18/04/2018

Sterling Bank Plc released its FY-2017 results, which showed growth across major line items, save for the Net interest income which recorded a decline in the full year. Gross earnings grew by 19.79% to NGN133.49 billion, while PBT and PAT increased by 43.47% and 65.12% to NGN8.61 billion and NGN8.52 billion respectively. Gross earnings and PBT were largely in line with our expectation, albeit with marginal deviations of 4.40% and 6.70% from our estimates, while the PAT was 16.06% higher than our expectation. Against polled estimates by Bloomberg, pre-tax profit was 1.62% lower, while post-tax profit came in 10.68% higher.

The 19.79% upturn in Gross earnings was largely driven by the 87.84% surge in NIR, which muted 10.37% decline in net interest income. A faster pace of increase in the interest expense (+39.48%) to NGN60.14 billion, than in interest income (+11.32%), drove the decline in Net interest income. Interests paid on customer deposits and on debt securities and borrowed funds were 30.43% and 205.35% higher than the previous year. As a result, NIM dropped by 251 bps to 2.51%, with yield on interest bearing assets lower by 196 bps to 14.30% and cost of funds 106 bps higher at 7.39%.

Growth in the NIR stems from the significant increase in the Net trading income to NGN4.67 billion, from NGN235 million in 2016. Gains on foreign exchange trading were 3.10x the value in the previous year, while loss on bond trading was reduced to -NGN0.58 billion (vs. -NGN3.31 billion). On the flip side, gains on T-bills instruments were lower by 26.43% at NGN1.78 billion. NGN4.66 billion was reported as cash recoveries on previously written off accounts, from NGN447 million in 2016, significantly buoying the growth recorded in Other income.

Loan and Impairment charges inched 4.72% higher than the NGN11.71 billion in 2016, to NGN12.27 billion, while loans to customers increased by 27.73% to NGN598.07 billion. As a result, cost of risk dipped 47 bps to 2.09%.

OPEX remained tapered in the year, with 3.69% (2016: +1.92%) increase to NGN52.48 billion, following 19.04% increase in depreciation and amortization charges, as well as marginal upticks by 0.20% and 2.99% in personnel and other operating expenses respectively.

Tax charge in the year was significantly lower by 89.86%, buoying growth in the bottom line, with pre and post-tax profits higher by 43.47% and 65.12% respectively.

In Q4-2017, Gross earnings grew (+3.44% q/q, +22.19%y/y) to NGN38.84 billion, as the 33.50% q/q (-8.49% y/y) growth in net income muted the 20% q/q (+353.71% y/y) decline in NIR. Contrary to the full year’s performance, the net trading income dropped by 51.92% from the previous quarter, and 294.55% lower from the previous year.

Loan impairment charges (+30.59%q/q, +2.66%) in the quarter increased to NGN4.64 billion. Total opex also grew by 4.84% q/q and 18.21% y/y to NGN13.72 billion in the period.

The bank recorded a pre-tax profit of NGN2.04 billion in the quarter, from a loss of 73 million in the same period of 2016. A tax credit of NGN573 million was recorded in the quarter, driving the 24.44% growth of PAT in the quarter to NGN2.62 billion, loss of NGN377 million in the previous year.

	FY:2017	FY:2016	YoY Growth	Q4 2017	Q4 2016	Q4 q/q %	Q4 y/y %
GROSS EARNINGS	133,490	111,440	19.79%	38,841	31,788	3.44%	122.19%
Interest income	110,318	99,104	11.32%	31,686	30,211	10.77%	104.88%
Interest expense	(60,137)	(43,115)	39.48%	(18,443)	(15,740)	-1.29%	117.17%
*Net interest income*	*50,181*	*55,989*	-10.37%	*13,243*	*14,471*	33.50%	91.51%
Fee and commision income	12,876	10,788	19.35%	3,840	2,559	22.53%	150.06%
Net trading income	4,669	235	1886.81%	2,249	(1,156)	-51.92%	194.55%
*Other income*	*5,627*	*1,313*	328.56%	*1,066*	*174*	-5.83%	612.64%
Non-interest income	23,172	12,336	87.84%	7,155	1,577	-20.00%	453.71%
Total Operating Income	73,353	68,325	7.36%	20,398	16,048	8.13%	127.11%
Loan impairment charges	(12,267)	(11,714)	4.72%	(4,636)	(4,516)	30.59%	102.66%
*Personnel expenses*	*-11,545*	*-11,522*	0.20%	*-2,885*	*-2,828*	-0.89%	102.02%
Depreciation and amortization	-4,995	-4,196	19.04%	-1,368	-1,100	0.74%	124.36%
Other operating expenses	(35,939)	(34,894)	2.99%	(9,465)	(7,677)	7.36%	123.29%
Total Operating Expenses	(52,479)	(50,612)	3.69%	(13,718)	(11,605)	4.84%	118.21%
Profit before Income tax	8,607	5,999	43.47%	2,044	(73)	-8.30%	2800.00%
Income tax expense	(85)	(838)	-89.86%	573	(304)	-554.76%	-188.49%
Profit after Tax	8,522	5,161	65.12%	2,617	(377)	24.44%	-694.16%

Siemens, Anglo American Partner on Digital Skills Development in Africa

Business Journal

18/04/2018

Currently, one of the most debated topics influencing innovation is digitalization and its impact on the future of employment. It is met with equal parts excitement and trepidation. No matter how you look at it, digital transformation and a truly connected global economy is already upon us.
Siemens has provided automation equipment and industrial networks to assist Anglo’s Engineering Skills Training Centre (ESTC). One of the pillars of Digitalization is industrial networks and security and it is crucial that these engineers understand the role of this technology in the future of mining.
As a leader in automation we are continuously expanding our leadership role in Industrial Digitalization. There is an opportunity, especially in Africa to embrace new and exponential technologies combined with human talent to accelerate industrialization and drive economic growth. “We are proud to be supporting Anglo American Platinum to advance skills and opportunities in Africa,” explains Sabine Dall’Omo, CEO for Siemens Southern and Eastern Africa.
Gary Humphries, Anglo American Platinum’s Executive Head for Processing was appreciative of Siemens completion of yet another skills project at the ESTC. In his address, Gary said, “Siemens and Anglo American Platinum have been in partnership since 2010 and we have seen approximately 298 artisans successfully trained and qualified at this centre. This vital contribution by Siemens to ESTC will significantly contribute towards the development of the human resource capabilities of our artisans and will help broaden the thinking of the students to explore new career capabilities. We celebrate the handover of the Siemens Simatic Wall and look forward to the role it will play in training the current and next generation of skilled artisans.”
We are ramping up our commitment to the region to meet our customer’s needs, expanding our portfolio for digital enterprises, supporting our customers in the manufacturing and process industries with digitalization, customization and efficiency improvements and investing in equipping our future generation with the right skills,” ends Sabine.

Bargain Hunting in Bellwethers Buoys Market Performance… ASI up 63bps

Business Journal

18/04/2018

The local bourse posted a bullish performance yesterday as the All Share Index (ASI) rose 0.6% to 40,788.68 points while YTD return increased to 6.7%. As a result, investors gained N92.2bn as market capitalisation increased to N14.7tn. Price appreciations in bellwethers – SEPLAT (+4.0%), ZENITH (+1.7%) and UBA (+3.3%) – accounted for yesterday’s bullish performance.

Similarly, activity level strengthened as volume and value of shares traded surged 732.4% and 248.9% to 1.6bn units and N10.9bn respectively.

The top traded stocks by volume were FCMB (952.6m), UBA (382.5m) and ZENITH (65.2m) while the top traded stocks by value were led by UBA (N4.2bn), FCMB (N2.4bn) and ZENITH (N1.8bn).

Bullish Sector Performance
Sector performance was largely bullish across 4 of 5 indices that we track. Only the Insurance index recorded a bearish performance, down 0.7%, due to losses in EQUITYASSURE (-2.1%). On the other hand, the Oil & Gas index appreciated the most, up 2.0% as investors took position in SEPLAT (+4.0%) and OANDO (+9.3%).

Similarly the Banking and Consumer Goods indices advanced 1.3% and 0.6% respectively on account of gains in ZENITH (+1.7%), UBA (+3.2%), NESTLE (+0.9%) and NIGERIAN BREWERIES (+0.7%). Likewise, the Industrial Goods index rose 0.1% due to price appreciation in WAPCO (+3.6%).

Investor Sentiment Strengthens
Investor sentiment as measured by market breadth (advance/decline ratio) strengthened to 1.8x from 1.3x recorded yesterday as 34 stocks advanced against 18 stocks that declined. The top performing stocks were UNITY (+9.5%), OANDO (+9.3%) andSKYE (+9.1%) while FIDSON (-5.0%), CILEASING (-5.0%) and AGLEVENT (-4.8%) led laggards.

In line with our projection, we expect market performance to remain buoyed by increased bargain hunting as investors take advantage of attractive entry prices in the market.

Global Airlines Financial Monitor: March 2018

Business Journal

18/04/2018

The final data for Q4 2017 confirms the stabilisation in airline financials in 2H17. The industry-wide EBIT profit margin was a robust 8.7% of revenues in Q4 2017 – effectively unchanged from Q4 2016.
The broad-based global equity market sell-off in March also impacted airline shares, although the 2% decline for airlines was less than the market generally (down 2.4%). Looking through the monthly volatility, airline shares have risen by 22% over the past year, easily outpacing the overall equity market (up almost 13%).
Oil prices rose in March, recovering some of the ground lost in February. Although jet fuel prices were largely unchanged this month, both oil & jet prices are currently around 30% higher than their level of a year ago.
As the 2018 Lunar New Year disruption in the data clears, both passenger and freight demand remains robust. Industry-wide capacity is now growing broadly in line with the pace of demand growth.
The premium cabin accounted for 5.3% of total international origin-destination passenger traffic but almost 30% of revenues in January, highlighting the importance of the premium cabin for airline finances.

NSE Migrates UBA, Access Bank to Premium Board Today

Business Journal

16/04/2018

The Nigerian Stock Exchange (NSE) is pleased to announce it will be migrating Access Bank Plc, Lafarge Africa Plc, Seplat Petroleum Development Company Plc and United Bank for Africa Plc to its Premium Board on Monday, April 16, 2018 sequel to them applying and meeting the Exchange’s listing requirements for the board.

The Premium Board is the listing segment for the elite group of issuers that meet the Exchange’s most stringent corporate governance and listing standards. The Board is a platform for showcasing companies who are industry leaders in their sectors. Premium Board features companies that adhere to international best practices on corporate governance and meet the Exchange’s highest standards of capitalization and liquidity.

The Board gives a company access to a global pool of investors who are focused on companies managed in conformity to the highest standards in their target markets. Access Bank Plc, Lafarge Africa Plc, Seplat Petroleum Development Company Plc and United Bank for Africa Plc have all passed the Corporate Governance Rating System (CGRS) and have market capitalisation of N347.12bn, N378.60bn, N391.37bn and N374.48bn respectively.

They will join Dangote Cement Plc, FBN Holdings Plc, and Zenith International Bank Plc who were migrated to the Premium Board in 2015, bringing the total number of companies on the Board to seven. Commenting on the development, Chief Executive Officer, NSE, Mr. Oscar N. Onyema said: “This migration affirms the strides our listed companies are making towards meeting the highest standards of corporate governance and underpins the robustness of our market. The new companies have consistently demonstrated their inherent values to be globally competitive brands and we congratulate them on the attainment of this migration”.

“Companies on the Board are already enjoying the highest levels of visibility and appeal to investors looking for large companies with highest standards of corporate governance. From inception to date, the Premium Board Index continues to outperform the benchmark NSE ASI with the Premium Board recording a total return of 84.99% versus the NSE ASI’s 41.79% as at 11 April 2018. The Premium Board’s performance continues to reinforce the sentiments of both foreign and domestic investors on the importance of corporate governance and sustainability”, he added.

To be listed on the Premium Board of The NSE, the aspiring companies must attain a minimum market capitalization of N200bn as at the date of application, a minimum score of 70% on the Corporate Governance Rating System (CGRS), and maintain a minimum free float of 20% of their issued share capital or a free float value equal to or above N40 billion, as well as meet other standard listing criteria. Recall the NSE Premium Board and the associated Premium Board Index were launched on Tuesday, August 25, 2015.

Consolidated Hallmark Insurance Plc

Business Journal

16/04/2018

Mr. Eddie Efekoha (MD/CEO- Centre)
From left – Dotun Adeogun, Head, Human Resources & Communications, Jimalex Orjiako, Head Technical Division; Ose Oluyanwo, Regional Director, Lagos Central; Mac Ekechukwu, Regional Director, Northern Operations; Mary Adeyanju, ED, Operations; Babatunde Daramola, ED Finance, Systems & Investments; Ijeoma Okoro, Regional Director, Eastern Operations and Tope Ilesanmi, Regional Director, Retail & Western Operations.

MTN, Ecobank to Deepen Financial Inclusion Across Africa

Business Journal

12/04/2018

The MTN Group and Ecobank Transnational Incorporated (ETI) have announced a collaboration enabling both companies to leverage each other’s assets that will ultimately offer more value to their respective customers across the continent.

MTN’s large subscriber base, comprehensive distribution, innovative digital products and drive for mobile financial services are being linked with Ecobank’s trail blazing digital banking products to provide instant bank accounts and remittances through Africa’s largest bank by network.
The two entities, with an extensive footprint on the continent, have signed a Memorandum of Understanding to develop this partnership agreement, which will allow them to innovate and enhance access to affordable financial services via MTN Mobile Money and Ecobank Banking services.
This includes;

Enabling Ecobank and MTN Mobile Money customers to transfer money between mobile money wallets and bank accounts.
Leveraging of Ecobank and MTN’s assets to digitise international remittance, foster product innovation in the field of mobile saving and lending, and offer digital payment solutions to consumers, merchants and corporates.

Ade Ayeyemi, Group CEO of Ecobank said: “The changing landscape of digital banking and mobile telephony is creating unique opportunities in the way and manner customers are served. Africa will need to digitise financial services to rapidly scale up client acquisition and patronage. MTN and Ecobank are taking the big step today at this grand event to support this agenda”

Further he reiterated that “Ecobank’s digital strategy has long been committed to ensuring transaction convenience for the market. We have made giant strides in our mission to ensure financial inclusion and today’s agreement with MTN will greatly accelerate the easy availability of banking services to the previously unbanked.”

Commenting on the collaboration, MTN Group President and CEO, Rob Shuter said: “Partnerships between banks and mobile money operators are fundamental in the mobile money ecosystem, hence our long-standing partnership with Ecobank in many of our markets aimed at driving financial inclusion. We are excited to be taking this partnership to the next level as this latest development will spearhead innovative initiatives which will deepen financial access on the continent.”

Ecobank Mobile App Handles $1bn Transactions in 18 Months

Business Journal

12/04/2018

The groundbreaking Ecobank Mobile App, a single, unified financial services application across 33 African countries, has processed nine (9) million transactions worth over $1 billion since launch less than 18 months ago.

With over 4 million users, the Ecobank Mobile App is available to all, enabling users to open an Ecobank Xpress™ Account instantly on their mobile device (providing an easy route to financial inclusion for the previously unbanked.

There are now over 4 million Ecobank Xpress™ Account holders on the Ecobank Mobile App and USSD platforms. Other bank customers may onboard the Ecobank Mobile App with their MasterCard or Visa cards while Ecobank customers do so using their card or retail internet banking credentials.
Users of the Ecobank Mobile App are able to transfer money instantly within Ecobank locally or across Africa using Ecobank Rapidtransfer™, a unique service that is faster and more affordable than competing options. Consumers may also make transfers to other local bank accounts, mobile wallets and to Visa cardholders using Visa Direct on the Ecobank Mobile App.

The App offers easy payments using Ecobankpay Scan+Pay through Masterpass, mVisa and Mcash, and has options to pay utility bills, school fees, subscriptions, make donations, buy airtime instantly and generate payment tokens using Ecobank Xpress™ Cash to do cardless ATM withdrawals or at an Ecobank Xpress™ Point (agent locations).

Ade Ayeyemi, Ecobank Group CEO explained that Ecobank’s strategic mission is built around using mobile banking to deliver innovative, efficient and cost-effective services to those who have typically sat outside of the formal economy, and therefore goes far beyond the reach of the traditional branch and ATM networks. He noted that they had processed almost as many transactions on the Ecobank Mobile App in the first few months this year as they did in the second half of 2017.

“Customers can enjoy 24/7/365 access to financial services from the convenience of their mobile devices with the Ecobank Mobile App,” he said. “We have brought world-class functionality to consumers in the 33 countries in Africa where Ecobank operates.”

Patrick Akinwuntan, Ecobank’s Group Executive, Consumer Banking says that Ecobank is committed to providing easy access to financial services for all Africans, leveraging the ubiquity of mobile phones via the bank’s Mobile App and at Ecobank Xpress™ Point agents wherever physical interaction is necessary especially for cash deposits.

“We aim to be the leading consumer financial services franchise in Africa and have developed a range of products and services relevant to meeting the daily banking, financing, investment and transactional needs of our customers,” said Mr. Akinwuntan.

“The Ecobank Mobile App provides easy access to these services anytime and anywhere and we are very pleased with the fast and increasing uptake.”

WorldRemit Partners Lebara on Money Transfer Service to Africa

Business Journal

12/04/2018

Lebara and WorldRemit, two leading brands serving international residents, have entered into a strategic partnership making WorldRemit the exclusive global money transfer partner of Lebara, including transfers to over 40 African countries.
The deal allows over 3 million Lebara Mobile and Lebara Money users to use WorldRemit’s digital money transfer service seamlessly, directly from the Lebara app and website. With more than half of WorldRemit’s transfers now going to Africa, this partnership will support the company’s plan to serve 5 million customers connected to the continent by 2020.
Lebara customers living in the UK, France, Germany, Spain, Denmark and Netherlands will benefit from WorldRemit’s extensive payout network in over 145 countries. This will provide a more convenient and lower cost alternative to the 90% of migrants who still send money through offline routes.
As part of the deal, WorldRemit will also benefit from co-branding in Lebara’s full retail estate stores and advertising in Lebara Mobile simpacks sold in 260,000 stores across Western Europe.
Ismail Ahmed, Founder and CEO at WorldRemit said: “We are delighted to be partnering with one of the world’s premier MVNO brands targeting international residents in Europe, giving its users access to our mobile-first service. With more than 260,000 points of sale, Lebara’s visibility and brand awareness complements WorldRemit’s strong digital capability. This partnership will introduce our safe, fast and low-cost remittance service to millions of new customers.
“WorldRemit has been working with telecommunication partners on the receive side, but this is our first strategic partnership with a mobile operator on the send side. We look forward to strengthening our leading position in the market with equally ambitious partnerships in the future.”
Graeme Oxby, CEO of Lebara Group adds: “This initiative is in response to a growing need of our valued customer base. Many of Lebara’s customers send money home to relatives and friends and we are delighted to be able to partner with WorldRemit to offer a simple to use and highly cost effective service”.
“Lebara mobile’s leadership position in the growing international residents market in Europe, coupled with a surge in smartphone users, creates an ideal platform for launching new and exciting services through partnerships. Our partners get unique access to a customer base which few other mobile companies can match.”
WorldRemit handles a growing share of the $600 billion migrant money transfer market – better known as remittances. Known for its mobile-first approach, one third of its transactions go to mobile money accounts; it currently handles 74% of international money transfers to mobile money accounts globally.
WorldRemit’s digital model allows customers to complete their transactions in just a few taps from a smartphone. Worldremit customers make more than 1 million transactions every month, using its app or website.

Political Risk Remains Key Concern for Investors in Africa

Business Journal

12/04/2018

Political risk will remain a major concern for dealmakers in Africa in 2018. According to a recent report, Resourceful dealmaking: Outlook for M&A in Africa, published by Mergermarket in collaboration with specialist risk consultancy, Control Risks, there has been a dramatic fall in M&A activity, with declines of 25% in volume and 26% in value in the first half of 2017, compared with a relatively buoyant 2016.
Imad Mesdoua, senior political risk consultant at Control Risks, comments: “The drop-off signifies growing investor anxiety surrounding governance issues and weaker economic signals across key African markets. Specifically, political risk and transparency concerns have become the principal obstacles to successful acquisition in Africa. Ethical and compliance considerations are another major factor clouding the outlook for potential investors.”

Key findings of the report:

Political uncertainty and relatively weak economic fundamentals have negatively affected M&A activity in Africa. A fall-off in deals was seen in the first half of 2017 compared with a relatively buoyant 2016.
Political risk will be a major obstacle to dealmaking in Africa over the next 12 months, according to 84% of respondents. Other risk factors include transparency concerns and completeness of information, which ranked joint first alongside political risk (84%), as well as compliance and integrity issues (80%).
Almost three-quarters (72%) of respondents say that getting caught up in a regulatory or criminal investigation is one of the highest risks in relation to a target company’s ethics and compliance standards.
Good news though for South Africa, Zimbabwe and Angola: greater political stability and a more favourable economic and business environment are expected to boost M&A activity in the coming year.
72% of respondents are pursuing co-investment strategies in Africa as a means of allocating risk more effectively.

Mesdoua continues: “Political risk will continue to pose a major challenge to M&A activity on the continent as several large markets such as Nigeria undertake difficult elections and unpopular reforms to improve their economic outlooks. However, the political uncertainty and weak macroeconomic situation that accounted for fewer deals in Africa’s largest markets in 2017 look set to ease over the coming year as countries such as South Africa, Zimbabwe and Angola begin to stabilise.”

Vodacom Nigeria Deploys Intelsat 35e Satellite to Improve Internet Connectivity in Nigeria

Business Journal

12/04/2018

L-R: Hans Geldenhuys, Managing Sales Director, Intelsat Africa and Lanre Kolade, Managing Director, Vodacom Business Nigeria during the signing of an agreement to deploy next generation Intelsat 35e Satellite to improve internet connectivity in Nigeria at the just concluded Satellite 2018 event held in Washington, D.C. USA.

Vodacom Business Nigeria and Intelsat S.A. yesterday announced an agreement to expand its enterprise broadband connectivity in Nigeria. This is in order to further provide improved satellite services to its local enterprise customers.

The strategic agreement was signed at the Satellite 2018 event which took place in Washington D.C, United States of America recently. This agreement now makes Vodacom Business Nigeria the first telecommunications provider in Nigeria to lease capacity on the Intelsat 35e Satellite.

As satellite coverage increases globally, enterprises businesses are no longer limited to operating from just one location because of the high speed broadband requirements for their business operation. Through this agreement with Intelsat S.A, which is the operator of the World’s first Globalized Network and leader in integrated satellite solutions, Vodacom Business Nigeria will deploy the Intelsat EPIC^NG satellite services, which is a next generation of satellite technology; to its enterprise customers to enable them to operate from anywhere they want throughout Nigeria.

Brian Jakins, Intelsat’s Regional Vice President, Africa Sales, said that “Intelsat Epic^NGenables higher data rate applications and smaller terminals that give enterprises the avenue to expand into new regions and take advantage of business opportunities regardless of where they occur.

He further noted that with the improved performance delivered by Intelsat Epic^NG, Vodacom Business Nigeria’s customers will utilize the satellite services on Intelsat 35e to deliver fast, high quality and resilient broadband connectivity to the banking, oil and gas, and enterprise sectors across West Africa for an improved quality of service.

Speaking on behalf of Vodacom, Lanre Kolade, Managing Director for Vodacom Business Nigeria said: “With plans in top gear to deploy the Intelsat EPIC^NG satellite services, this will enable Vodacom Business Nigeria to deliver an efficient, quick, reliable, secure broadband solution with a low monthly recurring cost within the shortest time to our Enterprise customers.”

Kolade said that this agreement will further allow Vodacom to connect businesses located in places where there is no access to terrestrial and mobile networks, therefore bringing them closer to their employees, customers as well as other businesses, to help empower them to remain operational and profitable.

“As a leading provider of corporate connectivity and telecommunications solutions, Vodacom always strives to stay up-to-date with the technological needs and requirements of the changing environment hence the reason for this agreement,” said Kolade.

About Vodacom Business Nigeria

Vodacom Business Nigeria, a wholly-owned subsidiary of the Vodacom Group, is a leading pan-African corporate connectivity and telecommunications provider. Vodacom Business works in partnership with the continent’s largest businesses in sectors including oil and gas, retail, banking, mining, distribution, and tourism; helping them stay connected across Africa, and to the rest of the world.

Vodacom Business’ core infrastructure connects over 580 million people, across more than 40 African countries and includes over 50 satellite transponders, 24 dedicated teleports and access to multiple sub-sea cable landing ports. By utilizing on-the-ground support, Vodacom Business provides system integration and maintenance, high-speed Internet services, Pan-African data networks, enterprise voice, wireless broadband and international VPNs.

Vodacom Business’ mission is to build the future of African communications through continued investment in infrastructure, products and services, creating the best value for its customers and the communities in which it operates.

Guinness Nigeria, Wecyclers Sign MoU on Waste Management

Business Journal

12/04/2018

L-R: Sustainable Development & Alcohol in Society Manager, Guinness Nigeria, Titilola Alabi; Corporate Relations Director, Guinness Nigeria Plc, Viola Graham-Douglas; Chief Executive Officer, Wecyclers, Olawale Adebiyi, and Head, Brand Protection and Corporate Security, Guinness Nigeria, Kingsely Onyeoziri at the MoU signing ceremony between Guinness Nigeria Plc and Wecyclers.

L-R: Liaison Manager, Guinness Nigeria Plc, Deborah Sobowale; Sustainable Development & Alcohol in Society Manager, Guinness Nigeria, Titilola Alabi; Corporate Relations Director, Guinness Nigeria Plc, Viola Graham-Douglas; Chief Executive Officer, Wecyclers, Olawale Adebiyi; Business Development Manager, Wecyclers, Omobolanle Olowu, and Head, Brand Protection and Corporate Security, Guinness Nigeria, Kingsely Onyeoziri at the MoU signing ceremony between Guinness Nigeria Plc and Wecyclers.

Guinness Nigeria Plc has partnered with Wecyclers, a for-profit social enterprise that promotes environmental sustainability, socioeconomic development, and community health to support Guinness’ waste management agenda.

The partnership is expected to, among other things, help support the implementation of Guinness Nigeria’s 4R waste management strategy, covering REDUCTION, REUSE, RECOVERY and RECYCLING, while addressing increasing local and global concerns around the environmental issues of waste disposal.

Mr. Peter Ndegwa, Managing Director/CEO, Guinness Nigeria Plc, stated that the partnership with Wecyclers is in line with Guinness Nigeria’s commitment to reducing its environmental impact across its operations and throughout its supply chain.

He added that it is also in line with the Nigeria’s Extended Producer Responsibility (EPR) policy approach under which producers are given a significant responsibility for the treatment or disposal of post-consumer products.

“This partnership with Wecyclers is in line with our commitment to reduce our environmental footprint as well as join the global movement to advance sustainable development. Every year, at Guinness, we set ourselves stretched targets that will guide us as we work to reduce our impact on the environment. We also strive to increase our positive social impact by delivering transformational social investments in communities where we operate,” Ndegwa said.

Speaking at the MoU signing, Chief Executive Officer, Wecyclers, Mr. Olawale Adebiyi, stated that Wecyclers, aims to build a low-cost waste collection infrastructure while raising general awareness on the importance of recycling for environmental sustainability and social welfare.

According to him, ‘’households are given a chance to generate value from their waste and provide a reliable supply of raw material to the local recycling industry. Partnerships with well-meaning organisations such as Guinness Nigeria Plc are a critical part of driving that agenda forward’’.

On her part, Corporate Relations Director, Guinness Nigeria Plc, Viola Graham-Douglas, stated “In the medium to long-term, Guinness Nigeria has set targets as part of its2020 Sustainability & Responsibility commitments, comprising three key pillars: Leadership in Alcohol in Society, Building Thriving Communities and Reducing our Environmental Impact. Delivering on these goals is an integral part of our long term business strategy and our commitment to making a real difference in communities where Guinness Nigeria operates,”

She further stated that “to this end, we have developed a sustainability strategy that will help us reduce our environmental impact while increasing our positive social impact in the society and this partnership will help us achieve our objectives. “

Wecyclers provides convenient recycling services in densely populated urban neighborhoods, with services that include the collection of waste products, such as, Polyethylene terephthalate (PET), cans, bottles and other small formats from different locations across Lagos, thereby reducing the chances of them ending up as waste in the open environment.

Guinness Nigeria Plc plans to run this pilot successfully in Lagos and then extend the initiative to other states in Nigeria within the next two years.

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