Category: Business & Economy

Brand Finance has named Nigeria’s most valuable companies.

Dangote Group emerged as Nigeria’s most valuable brand with a brand value of US$491 million.

Nigerian Breweries came in as Nigeria’s strongest brand with a brand strength rating of AA+ and a brand value of US$78million.

The ICT sector saw its brand value grow by 63%. Tranzact emerged as the fastest growing brand, up 65% to US$17 million. Glo mobile is the most valuable telecommunications brand, value that US$427 million, up 62% from last year.

The Banking sector made up 48% of the Brand Finance list this year with the sector’s overall brand value growing at six percent year on year. First Bank of Nigeria has consecutively been the most valuable banking brand, valued at US$301 million.

The Oil and Gas brands, which comprise 20% of the overall brand value, experienced a decline in sector brand value this year. Oando was an exception; its brand value did not see a change this year. Despite the waning brand value of the sector as a whole, Seplat’s brand value enjoyed a 10% increase to US$90 million, confirming it as the most valuable Oil and Gas brand. The decline in the sector’s brand value is attributable to the decline in oil output and prices, which has increased discount rates.

According to Babatunde Odumeru, Managing Director, Brand Finance Nigeria,

“The fact that both the strongest and most valuable brands came from the manufacturing sector is re-assuring. This somewhat dispels the notion of how undiversified our economy really is. This is something to build upon. The government’s effort towards diversifying the economy should be complimented with a drive to develop corporate Nigeria’s capability of building strong and global brands. This is absolutely crucial in successfully implementing the policy of wealth creation we seem to have embarked on.”

Brand Finance is the world’s leading brand and branded business valuation consultancy, with offices in over 25 countries, providing clarity to marketers, brand owners and investors by quantifying the financial value of brands.

Cellulant and its e-wallet AgriKore has been engaged by the Ministry of Agriculture Irrigation and Livestock, in Afghanistan, to commence the process of establishing a market-based input distribution technology for it.

The collaborative effort is aimed at bolstering Afghanistan’s drive for self-sufficiency in wheat production. Afghanistan will be the first country in Asia to adopt the e-wallet system, following the footsteps of countries like Liberia and Togo.

Beyond its benefits to Afghan, the development is a testimony of Nigerians innovation and creativity in providing IT solutions not only for the Nigerian market but also for export.

The technology had enabled Nigeria to increase its food production by an average of 21 million metric tonnes annually between 2012 and 2015. Cellulant had previously exported the technology to other African countries in Francophone and Anglophone Africa, such as Liberia, Togo, Uganda, and a host of others.Speaking on the partnership with the Afghan Government, the Co- founder, Cellulant Corporation, Bolaji Akinboro, said the technology originating from Nigeria, “is a gift from Cellulant to humanity.”

‘‘Afghanistan is beautiful to us, and we are glad to come all the way from Africa, Nigeria to make life better for the smallholder farmer in Afghanistan,” he stated.

According to him, the AgriKore technology gives smallholder farmers access to agricultural inputs of improved varieties/breeds, fertiliser and agro-chemicals, making it the backbone of increased productivity and profitability.

“This technology allows the best available seeds and fertiliser get into the hands of hundreds of thousands of smallholder farmers to raise crop yields,” he said.

Bolaji Akinboro appreciated the government and the people of Afghanistan for giving the company the opportunity, and the space to participate in making life better for smallholder farmers. He explained:

“Cellulant is driven to solve difficult problems on use of payment technology. We will work with the government of Afghanistan to get inputs to one million farmers in the next 90 to 120 days.

This e-wallet system, which works on a block chain technology, provides a holistic system to link the farmers to agricultural inputs supply chain, finance and markets through integration with mobile network operators, input markets, extensions services, financial service providers, commodity market, and insurance service providers.

So far, Cellulant’s e-wallet or AgriKore ecosystem, which connects everyone to everything in agriculture all the time, has been of benefits to 17 million farmers, 2500 agri-businesses; 800 e-extension workers and over 2,500 service points in Nigeria. This technology enables more than five million farmers to get access to high quality inputs every year.”

The e-wallet system was conceived in Nigeria, and was first implemented during the President Goodluck Jonathan’s administration under former Minister of Agriculture, Dr. Akinwumi Adesina, who is currently the President, African Development Bank (AfDB).

TrustBond Mortgage Bank has emerged winner of the 2017 Capital Finance International Award for “Outstanding Contribution to Home Ownership in Nigeria 2017″.

Continue reading TrustBond Mortgage Bank Wins 2017 Capital Finance International Award

Africa Prudential Registrars Plc has emerged the Best Registrar Firm in West Africa, by the Africa-Canada Trade Alliance, at the 7th Edition of the West Africa Innovation and Excellence Awards ceremony in Abuja.

According to the organisers, the innovation award celebrates outstanding innovations, brands and personalities in the public and private sectors across West Africa, which includes Nigeria, Ghana, Sierra Leone, Republic of Benin, Coté d’Ivoire, and Gambia. Others are Mali, Senegal, Togo, Guinea Bissau, and Cameroun.

Based on internationally acceptable methodology, the panel of judges, rated and determined the winners. Africa Prudential Registrars scored above the minimum score line of 75 per cent to clinch the coveted award.

The Chief Operating Officer, Africa Prudential Registrars Plc, Mrs. Catherine Nwosu, who received the West Africa Innovation Award on behalf of the company, assured that it is poised to consistently improve on its performance.

“With this award, the bar has been raised, and we cannot afford to deliver less.”

 

Africa Prudential had previously won several awards, including International Quality Crown Award, London 2013; Top 25 CEOs Award, BusinessDay 2014; Best Profit Margin Ratio and Best Corporate Governance Awards, Pearl Awards 2015.

 

For the second consecutive year in a row, Access Bank Plc has been awarded the Outstanding Business Sustainability Achievement Award 2017 at the 2017 Karlsruhe Sustainable Finance Awards in Karlsruhe, Germany.

Held on July 13, 2017 and attended by CEOs of leading international financial institutions, senior executives of other winning institutions and top German government officials, the award was presented to Access Bank CEO, Mr Herbert Wigwe.

Continue reading Access Bank & BoI Win 2017 Karlsruhe Sustainable Awards

Accra Weizo is an annual Tourism event for the ECOWAS region which is organised by Akwaaba African Travel Market and it is held in Accra, Ghana.

Stella Obinwa, the Director of International Operations in charge of Africa for Dubai Tourism won the Travel Personality of the Year for West Africa.

SAHCOL was voted as the Best Handling company in West Africa.

The Top 100 Travel and Tourism Personalities in West Africa were also honoured at the event.

Mr Frank Nneji the CEO of ABC Transport won the award in recognition of his trail blazing effort which has transformed land transportation across West Africa and in the process linking several countries conveniently through the gesture.
Leading travel promoters in Nigeria and Ghana equally emerged winners of the award, among whom are Mrs Uloma Egbuna, the Managing Director/Chief Executive Officer of Tour Brokers International; Mr Simon Grindrod, the General Manager of The Wheatbaker Lagos; Dr Michael Pinder, Group General Manager, Sun Heaven Hotels and Resorts, and Mr Lehlohonolo Hloni Pitso, the Regional Manager West Africa for South African Tourism’s regional Africa office based in Lagos, Nigeria.

According to Mr Ikechi Uko, organiser of the awards:

“The Top 100 Tourism Personalities was set up to recognise individuals who have distinguished themselves and through their efforts or that of their organisations have impacted positively on the travel and tourism sector across the West African sub region.
Also the personalities whose efforts have stimulated and helped to achieve their individual country’s tourism goals and forging interactions among stakeholders and customers across the region.”

Chioma Ukonu, co-founder and COO of RecyclePoints has won 2nd place and a prize of US$ 200,000 at the 2017 Chivas Venture Competition. Chioma Ukonu emerged victorious after a rigorous voting and pitching process involving inspirational social entrepreneurs from 32 countries, with the grand final in Los Angeles.

RecyclePoints is enabling individuals, particularly from low-income households, to create value from their everyday waste. It operates an incentive-based model which collects recyclable waste materials from registered households, and in turn rewards them with points, which they can accumulate and redeem for cash or other useful items offered through their iRecycle Store. The company employs young ‘Wastebusters’ to ride its electric tricycles and collect door-to-door recyclable waste such as plastic bottles, aluminum cans, newspapers, or cartons. These items are then processed at the company’s Collection & Sorting Hub by unemployed women within the community, and sold on to recycling plants to use as raw materials for new products. RecyclePoints supports environmental sustainability, and engages the community to be part of the solution. With additional funds the company is hoping to expand its operations and impact, within its current city and to other states, purchasing new equipment and replicating its solution in a franchise model.

The global competition staged by Chivas Regal, was launched with a mission to find promising, up-and-coming startups that also have a positive impact on the world.

The Chivas Venture Competition was open to startups that have a working business model and at the same time, create social good with their endeavors. With 32 countries taking part, each region held its regional round, with winners eventually being selected to participate in the grand finals for a chance to win and share a stake from the US$1 million social entrepreneurship fund. The ultimate aim of The Venture is to find and support the most promising startups with the potential to succeed financially and make a positive impact on the lives of others.