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Airtel’s Nine-Month Profit Surges 97% To $514 Million On Post-Covid Data Boom

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Airtel jumped 9.99 percent to N1,398 per unit in Lagos at 10:54 WAT in Lagos on Friday, following the news

Airtel Africa recorded an earnings spike that helped its after-tax profit almost double to more than half a billion dollars in the nine months to December, according to its unaudited earnings report issued Friday.

Airtel jumped 9.99 percent to N1,398 per unit in Lagos at 10:54 WAT in Lagos on Friday, following the news.

Revenue leaped 21.7 percent to $3.5 billion, drawing support from its data business, whose contribution to turnover in constant currency approached one-third of Airtel’s turnover.

A rapid acceptance of mobile money services in its Nigerian, East African, and Francophone Africa markets means earnings from that income source, now at $406 million, accelerated at the rate of 37.2 percent when set beside the figure posted a year earlier.

The future of earnings for the telco will be substantially shaped by its mobile money business which, having been spun off from its regular operation after hitting a valuation of $2.65 billion last March, pooled $550 million from investors as varied as Mastercard, Qatar Investment Authority, Chimera Investment LLC and San Francisco-based TPG in less than nine months.

Profit before tax for the period stood at $894 million compared to the $482 million posted in the relative period of 2020.

Profit after tax spiraled by 97.3 percent to $514 million. It was $261 million a year earlier.

“We have also seen further improvement in our customer growth trends for the Group with Nigeria returning to strong customer growth,” said CEO Segun Ogunsanya.

That followed “a period affected by the implementation of new ‘know your customer requirements, posting 1.9 million net additions in the third quarter, taking total group customer additions to 3.1 million,” he added.

Analysts, including Goldman Sachs, Bank of America, Barclays, and Chapel Hill Denham, expect Airtel’s revenue to touch $4.1 billion for the financial year 2022.

Now Nigeria’s most valuable company in terms of open market worth, the mobile network operator last week outpaced Dangote Cement to reach that milestone, with the remarkable financials expected to pull hefty buyers’ interest in the market on Friday, helping strengthen its hold on the top spot.

In November, Airtel and rival MTN Nigeria got an approval-in-principle from regulator Central Bank of Nigeria to run payment service banks, hoping to leverage their broadband connectivity strength to penetrate rural markets and drive inclusion, a sore point for conventional banks who risk losing income to the fierce competition the development will engender.

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FBNHoldings Wins Two Awards At Nigerian Investor Value Awards

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FBNHoldings Wins "Best Performing Stock And Best Stakeholders’ Communications Of The Year" At NIVA Awards 2022

Best Performing Stock

Best Stakeholders’ Communications of the Year

Olushola Okunlade Writes

Nigeria’s leading financial services group and holding company, FBN Holdings Plc, has won two awards at the Year 2022 Nigerian Investor Value Awards (NIVA). The prestigious event, which was held last Saturday at the Lagos Continental Hotel, Victoria Island, Lagos was organised by BusinessDay, in collaboration with the Nigerian Exchange Limited.

The first award was in the Best Performing Stock, among the bank holding companies category. The statement from the organisers read that, FBNHoldings within the period under review, had the best share price performance with a capital gain of 59.44% and a total return of 65.73%. 

Best Stakeholders’ Communications of the Year was the second award. According to the organisers, the consideration for the award was predicated on the fact that ‘FBNHoldings has a high quality, information-rich annual report, timely quarterly results communication, and a comprehensive investor relations website.’ 

FBNHoldings Wins "Best Performing Stock And Best Stakeholders’ Communications Of The Year" At NIVA Awards 2022
Left-Right: FBNHoldings Plc’s team at the event, Bode Oguntoke, Head, Internal Audit, FBNH, Opeyemi Okojie, Head, Strategy & Corporate Development, FBNH, Wale Ariyibi, Chief Financial Officer, FBNH receiving the award from Jude Chiemeka, Divisional Head, Capital Markets, Nigerian Exchange Limited, Ogho Okiti, MD/CEO BusinessDay Newspaper, and Simisola Salami, Team Lead, Communications & Shareholders Engagement, Investor Relations FBNHoldings Plc at the year 2022 Nigerian Investor Value Awards which held at Lagos Continental Hotel, Kofo Abayomi Street, Lagos last Saturday.

Commenting on the awards, the FBNHoldings Group Managing Director, Nnamdi Okonkwo said; “we are delighted to have been recognised for the high returns the share price of our great institution provided to our shareholders and investors in the year. This remains consistent with our focus of enhancing shareholder value”. Adding further, Okonkwo posited that “winning the second award on stakeholders’ communication demonstrates the quality of our disclosure, the excellent relationship with our stakeholders and the strong Investor relations practice. This epitomises the value our Group brings across engagements with our various stakeholders, which helps to make ours, the brand of the first choice”.

The NIVA Awards are being held for the second year in a row. It was formerly the Top 25 CEOs Awards which was held for over eight years. These latest awards are coming on the back of the recent International Finance awards where FBNHoldings won two awards, Best Investor Relations – Banking – Nigeria and Most Diversified Financial Portfolio Services – Nigeria.

Know More About FBN Holdings Plc: FBN Holdings Plc. is the non-operating financial holding company of one of the largest banking and financial services organisations in Africa. A truly diversified financial services group that offers a broad range of products and services, including commercial banking, merchant banking, and asset management and insurance to millions of customers. FBNHoldings oversees business groups that collaborate to deliver innovative financial solutions.

The bank and the non-bank subsidiaries of the holding company operating in Nigeria, as well as through overseas branches, subsidiaries, and representative offices across the world. The companies in the FBNHoldings Group include; First Bank of Nigeria Limited (FirstBank), a commercial bank with operations in 10 countries; the Merchant Banking and Asset Management business of FBNHoldings, which comprises FBNQuest Merchant Bank Limited, FBNQuest Capital Limited, FBNQuest Trustees Limited, FBNQuest Asset Management Limited, FBNQuest Funds Limited, and FBNQuest Securities Limited.

In the Insurance business line, the 20-year-old Insurance broking Company, FBN Insurance Brokers Limited is a subsidiary of the FBN Holdings Plc offering broking and advisory services to the Group’s captive businesses and other clients.          

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Alliance For Youth Nigeria Equips Youth Across The Country For Employment

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Alliance For Youth Nigeria Equips Youth Across The Country For Employment

…Alliance for Youth Nigeria is investing in young Nigerians, equipping
them with the right skills, and information to thrive and succeed in the world of work – Uwadoka

Olushola Okunlade Writes 

Alliance for Youth Nigeria equips youth across the country for employment

Over 200 fresh graduates across Nigeria have received employability skills training facilitated by the Alliance for Youth Nigeria. The training comprised Building Winning Resumes, Career Positioning, Personal Brand Marketing, Personal Effectiveness, Time
Management, and Starting the Career Journey among others.

In addition, the best performers will benefit from internship and mentoring opportunities in the six companies that form part of the Alliance. At the end of the training, some participants of the training also had the unique opportunity of partaking in job interviews and placements, progressing on their career journeys.

Alliance For Youth Nigeria Equips Youth Across The Country For Employment
Left-Right: Mrs. Omomene Odike, CEO, U-Connect Human Resources Limited Edidiong Peters, Public Affairs Specialist, Nestlé Nigeria PLC Victoria Uwadoka, Corporate Communications, and Public Affairs Manager, Nestlé Nigeria PLC; Second Row Left-Right: Oyinlola Lawal, Youth Engagement Analyst, Jobberman Nigeria Damilola Odubanjo, Learning, and Development Associate, Jobberman Nigeria Olugbenga Alabi, Category and Marketing Manager, Coffee, Nestlé Nigeria PLC Uche Aso, Head, Learning and Development, U-Connect Human Resources Limited Lanre Coleman, Head, Recruitment and Outsourcing, U-Connect Human Resources Limited.
Alliance For Youth Nigeria Equips Youth Across The Country For Employment

Launched in August 2021, the Alliance is a business-driven movement of organizations passionate about working together to help young people around the country get the necessary skills to thrive in the world of work. Members of the Alliance for Youth Nigeria include Nestlé Nigeria, Jobberman Nigeria, Sterling One Foundation, Big Bottling Company, the United Nations Global Compact Network Nigeria, and U-Connect HR Limited, with Lagos State Employment Trust Fund and Activate Success International as partner organizations.

The member and partner organizations have positioned themselves to invest in joint and individual projects to give young Nigerians meaningful work experience, internships, readiness-for-work training, and mentoring opportunities in line with the United Nations Sustainable Development Goal 8 – to promote sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all by 2030.

The employability skills training is one of the projects of the Alliance designed to meet the target of reaching more than 250,000 young Nigerians with employability and entrepreneurial skills to enable them to secure gainful employment or set up businesses of their own within 3 years. This objective, which was announced during the launch of the Alliance, is in line with their commitment to work together to address the challenges of youth unemployment in the country with the associated social and economic impact.

Alliance For Youth Nigeria Equips Youth Across The Country For Employment
Tosin Babasanya-Craig, Country Manager, Performance Fact Inc. facilitating one of the Alliance for Youth Nigeria sessions to equip youth across the country for employment.

Speaking at the opening session of the training, Victoria Uwadoka, Corporate Communications, and Public Affairs Manager, Nestlé Nigeria PLC said, “I am delighted that yet again, the Alliance for Youth Nigeria is investing in young Nigerians, equipping
them with the right skills and information to thrive and succeed in the world of work. At Nestlé, we believe that society cannot thrive if we fail to offer a future for the young generations. The Alliance will continue to work together with other stakeholders in line with the United Nations Sustainable Development Goal 8 in fulfilling the huge target we
have committed to and I encourage young people around the country to take advantage of the available opportunities”.

Also speaking at the training, Mrs. Omomene Odike, CEO U-Connect Human Resources Limited, congratulated the youth for their interest and dedication to achieving their career and business goals demonstrated by their participation in the training. She further highlighted the value-adding opportunity of job interviews and placements provided by her organization for participants of the training, urging them to take maximum advantage of the offer.

According to Innih Ikhide, Youth Engagement, and Learning Manager Jobberman Nigeria, “Jobberman is dedicated to creating increased pathways for young people to access dignified livelihoods for a better Nigeria”.

For Naomi Nwokolo, Executive Director, United Nations Global Compact Network Nigeria, “The active engagement of youth in sustainable development efforts is central to achieving sustainable, inclusive, and stable societies by the year 2030, and averting the worst threats and challenges to sustainable development, including the impacts of unemployment. The beneficiaries of the training have shown a willingness to improve their skills and attain professional development and are now more equipped for successful participation in job recruitment processes”.

On behalf of other participants, Adasa Okandiji, commended the member companies for the excellent upskilling platform provided to equip and better position young Nigerians for a productive career, now and in the future. She expressed her readiness and that of other participants, to fully utilize the value-adding information obtained in creating their desired future. She also called on youth across the country to be deliberate about seeking out and taking advantage of existing opportunities, particularly that provided by the Alliance.

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FBNHoldings Wins “Best Performing Stock And Best Stakeholders’ Communications Of The Year” At NIVA Awards 2022

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FBNHoldings Wins "Best Performing Stock And Best Stakeholders’ Communications Of The Year" At NIVA Awards 2022

…FBNHoldings Plc Wins NIVA Awards

Olushola Okunlade Writes

FBNHoldings Plc has won two awards, Best Performing Stock and Best Stakeholders’ Communications of the Year at the 2022 Nigerian Investor Value Awards (“NIVA”) which was held at Lagos Continental Hotel, Lagos last Saturday, May 14th, 2022.

According to the organizers, “Best Performing Stock and Best Stakeholders’ Communications of the Year Award” was conferred on FBN Holdings Plc for proven the resilience of its business model, and recovery capacity across all verticals it participates in, and strategic opportunism in new growth areas.

This award is in recognition of the indelible contributions of FBNHoldings Plc and its subsidiaries to the economic growth of Nigeria, throughout its 128 years of existence; representing all that is enviable about the financial services industry in Nigeria, reinventing itself to transform into a digital bank with sprawling footprints across the country and Africa.

FBNHoldings Wins "Best Performing Stock And Best Stakeholders’ Communications Of The Year" At NIVA Awards 2022
Left-Right: FBNHoldings Plc’s team at the event, Bode Oguntoke, Head, Internal Audit, FBNH, Opeyemi Okojie, Head, Strategy & Corporate Development, FBNH, Wale Ariyibi, Chief Financial Officer, FBNH receiving the award from Jude Chiemeka, Divisional Head, Capital Markets, Nigerian Exchange Limited, Ogho Okiti, MD/CEO BusinessDay Newspaper, and Simisola Salami, Team Lead, Communications & Shareholders Engagement, Investor Relations FBNHoldings Plc at the year 2022 Nigerian Investor Value Awards which held at Lagos Continental Hotel, Kofo Abayomi Street, Lagos last Saturday.

FBN Holdings Plc has been providing exceptional services to its customers, bringing mainstream banking to Nigeria’s 774 LGAs. Through its Agent Banking Platform, they empower people and transform lives. Its shareholders remain key to its success story and every day it strives to deliver quality returns on its investment whilst strengthening the fundamentals of the business through smart investment in technology, our people, and process. As a business, it also prioritizes Nigeria’s Economic, Social, and Governance practices to ensure the sustainability of the environment.”

The company has won many awards for its portfolio.

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