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Business

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Capital Market

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Insurance

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Verve, Adidas Renew Partnership towards Africa’s Biggest Fitness Party, VerveLife 7.0

Verve, Africa’s leading domestic payments card and token brand, has announced a renewed partnership with leading global sportswear brand, adidas, for the seventh (7.0) edition of VerveLife, which has progressively gained acclaim as Africa’s largest and most celebrated fitness festival series. This marks the second time Verve and adidas have entered strategic collaboration, premised on a common goal of transforming fitness and wellness across the continent.

Launched seven (7) years ago, VerveLife has become Verve’s flagship lifestyle initiative, revolutionising fitness and wellness in Nigeria and beyond, while promoting a healthy lifestyle among Verve’s cardholders and fitness enthusiasts.

Attracting over 12,000 participants annually from West and East Africa, the festival has grown into one of the continent’s most significant fitness platforms. It features high-intensity workout sessions, dance routines, and fitness challenges led by expert instructors, culminating in a spectacular after party designed for fitness enthusiasts to unwind following the invigorating wellness sessions.

Cherry Eromosele, Executive Vice President, Marketing and Communications, Interswitch Group, expressed her optimism about the renewed partnership:

“We are thrilled to take VerveLife to new heights this year, building on the success of our previous editions. Our renewed partnership with adidas underscores our unwavering commitment to delivering exceptional experiences that resonate deeply with fitness enthusiasts across Africa.

This collaboration not only enhances the quality of the event but also enriches the overall experience for our participants. With adidas on board, attendees can look forward to an invigorating presence, including exclusive complimentary merchandise and attractive product discounts. We are excited to see our community come together, united by a shared passion for fitness and wellness,” Eromosele said.

Brett Burgess, Commercial Director for Africa at adidas, commenting on the partnership said,

“Our partnership with VerveLife is an amazing opportunity for adidas as a Brand to connect with potential consumers in East and West Africa through this transformative event, bringing likeminded consumers together, working out together while enjoying the experience with a community.

“VerveLife provides a unique platform for us to connect with individuals who are passionate about fitness, and we are eager to bring our expertise and resources to support their journey. This collaboration allows us to contribute to a larger movement that encourages people to live healthier, more active lives, while having fun. We look forward to an inspiring and impactful VerveLife 7.0, where we can help participants achieve their fitness goals and enjoy a vibrant community experience,” Burgess remarked.

This year, the VerveLife fitness train will travel across Nigeria stopping in cities such as Asaba, Enugu, Abuja on August 17, September 14, and October 12, 2024, respectively before returning to Lagos for the highly anticipated grand finale in November.

It will also make a stop at Uganda (Kampala) for the 2nd time and Kenya (Nairobi) for the 3rd time, before culminating in an exciting grand finale for the ultimate fitness extravaganza. The grand finale and after-party will be held on November 2, 2024, at the Landmark Event Center in Victoria Island, Lagos.

As Verve and adidas continue their commitment to championing fitness and wellness across Africa, fitness enthusiasts across Nigeria, Kenya and Uganda can look forward to yet another exciting edition of Africa’s biggest fitness party, VerveLife 7.0.

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‘Cost of Finance Too Expensive in Africa’

“I would say the biggest challenge companies face is the cost of finance. Funds are very expensive in Africa,” says Jonty Levin, a Partner at financial advisory and structuring specialist, Alkebulan. There are two main reasons why the cost of finance generally remains high across the continent, according to Levin. One is the perceived risk associated with investing in African companies, and another is the shallow financial markets, where limited supply is rationed through higher costs.
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