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BUA Cement Declares N88.047Billion Dividend Payout For Shareholders

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BUA Cement Declares N88.047Billion Dividend Payout For Shareholders

…targets 17 Million Metric Tonnes per annum by 2023

Olushola Okunlade Writes

Shareholders of one of Africa’s largest manufacturing companies, BUA Cement Plc, have approved dividends of N88.047billion for its financial year ended December 31, 2021, at N2:60k per ordinary share of 50k each.

This approval was given during the company’s 6th Annual General Meeting held in Abuja and comes on the back of a strong financial performance in the year under review that recorded revenue growth of 22.9% from N209.4 billion in 2020 to N257.3 billion in 2021. Profits after Tax also rose by 24.5% to N90.1billion in the year under review.

BUA Cement Declares N88.047Billion Dividend Payout For Shareholders
Alhaji Abdul Samad Rabiu, Chairman Board of Directors, BUA Cement Plc.

Speaking at the Annual General Meeting, Abdul Samad Rabiu, Chairman of the Board of Directors of BUA Cement Plc commented: “our performance in 2021 gives credence to our sound business model, value proposition, and the excellent team who responded to the challenges and opportunities that were confronted in the year under review. In the meantime, the BUA Cement brand continues to grow stronger in the marketplace. Our aim is to invest more in the cement industry until Nigeria is self-sufficient, and cement is readily available, accessible, and affordable for all Nigerians. We expect to continue this excellent performance for the foreseeable future.”

Furthermore, Abdul Samad Rabiu disclosed that the company’s ongoing projects will be completed in 2023 to increase the cement company’s installed capacity to 17 million metric tonnes per annum which will solidify BUA’s position in the Nigerian Cement industry as well as position the company to take advantage of export opportunities.

BUA Cement Declares N88.047Billion Dividend Payout For Shareholders
Engr Yusuf Binji, Managing Director, BUA Cement Plc.

On his part, Engr Yusuf Binji, Managing Director, BUA Cement Plc, reaffirmed the company’s commitment to prioritizing excellence across all areas of business, and product quality whilst ensuring sustainability in its operations. Binji further added that when the installed capacity of the company increases by 2023, BUA Cement “will be better positioned to increase existing export volumes and, in the process, take advantage of some of the benefits of the African Continental Free trade Area”.

Binji also mentioned that as part of its sustainability initiatives, BUA Cement Plc remains operationally conscious, socially engaged, and economically involved. During the year under review, BUA Cement made significant progress on a cleaner energy mix through its transition from Heavy Fuel Oils to Liquefied Natural Gas in its Sokoto plants. The company completed the installation of a 50MW gas power plant together with the modification of its kilns to enable the use of LNG in the pyro process to reduce BUA Cement’s carbon footprints leading to the full substitution of foreign coal with LNG.

BUA Cement Plc is Nigeria’s second-largest cement company and the largest producer in its North-West, South-South, and South-East regions. BUA Cement operates strategically from Okpella, Edo State, and Kalambaina, Sokoto State with its headquarters in Lagos, Nigeria. Currently the second most capitalized manufacturing company on the Nigerian Stock Exchange (NSE), BUA Cement is committed to quality – a differentiating attribute, driven by its people, innovation, and technology; and positioned to solve West Africa’s cement under-capacity, while driving economic growth and development.

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Jumia Nigeria Unveils 2023 Tech Week

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Jumia Nigeria Unveils 2023 Tech Week

…Consumers in Nigeria to leverage the campaign to upgrade their tech devices

Jumia, the leading pan-African e-commerce platform, has announced the launch of its annual “Tech Week” campaign, an initiative aimed at providing consumers access to authentic tech devices such as mobile phones and accessories, TVs, computers, cameras, video games, and much more.

Scheduled to run from March 20th to April 2nd, the Tech Week campaign offers all consumers nationwide the opportunity to upgrade their tech devices for less from renowned brands like Xiaomi, Oraimo, Samsung, Tecno, Infinix, Edifier, Weyon, Nexus, Haier Thermocool, Scanfrost, and Binatone, amongst others.

“We believe everyone should have access to quality products at competitive prices, and we are committed to making this a reality. By partnering with leading brands to provide our consumers with access to the latest tech devices, we hope to help bridge the digital divide and empower more people to achieve their full potential. Consumers can be sure to have their tech needs met during this campaign. At Jumia, we remain committed to providing the best shopping experience to our consumers across the country,” said Massimiliano Spalazzi, CEO, Jumia Nigeria.

“Oraimo is delighted to partner with Jumia for this year’s Tech Week. We believe that this partnership is of great significance as it enables us to showcase our innovative and cutting-edge mobile accessories and lifestyle offerings to a wider audience in Nigeria. As a leading e-commerce platform committed to delivering quality products and excellent customer service, Jumia is the perfect partner for Oraimo. Through this collaboration, we are determined to bring amazing offers and deals to our customers and ensure that they have access to our high-quality products. We are excited to work alongside Jumia to provide our customers with a seamless shopping experience and build a lasting relationship with them. Together, we are committed to delivering the best products and services to our customers. We look forward to a successful partnership with Jumia,” said Alex Liu, E-Commerce Operation Manager, Oraimo Technology Limited.

As technology continues to play a vital role in shaping the way we live and work, it’s no surprise that more Nigerians are leveraging its power to improve themselves. According to a recent digital report by Meltwater, there were 122.5 million internet users in Nigeria at the start of 2023, and internet penetration stood at 55.4 percent. These figures are a testament to the growing importance of technology in Nigeria and the increasing role it plays in driving the country’s economy. Jumia remains committed to empowering more Nigerians to take advantage of the benefits of technology through initiatives like Tech Week.

Know More About Jumia: Jumia believes that technology can potentially transform everyday life in Africa for the better. Jumia was built to help consumers access millions of goods and services conveniently and at the best prices while opening up a new way for sellers to reach consumers and grow their businesses.

Listed on the New York Stock Exchange (NYSE) in 2019, Jumia is the leading e-commerce company in Africa, operating in 11 countries. The Jumia platform consists of a marketplace, which connects sellers with consumers, a logistics service, which enables the shipment and delivery of packages from sellers to consumers, and a payment service, JumiaPay, which offers a safe and easy solution to facilitate online payment transactions. The company offers goods across a broad range of categories, such as phones and electronics, home appliances, fast-moving consumer goods, fashion, and beauty. The company generated over USD 1 million in Gross Merchandise Value in 2022 and has over eight million customers.

For more information about Jumia, follow us on LinkedIn: Jumia Nigeria and Twitter: JumiaNigeria

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Transforming Transportation 2023: Accelerating Toward Green And Inclusive Mobility

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Transforming Transportation 2023: Accelerating Toward Green & Inclusive Mobility

Today’s global challenges are putting serious pressure on transport systems. From climate change and COVID-19 to conflict and macroeconomic instability, what are the implications of the current context for transport, and for the people and businesses that rely on it?

How can we help the sector navigate these compounding crises? Can this be a starting point to reimagine transport and make it more inclusive, safe, sustainable, and efficient?

These are some of the key questions that we will be discussing with leaders and experts from around the world as we celebrate the 20th anniversary of our Transforming Transportation conference.

Join us live on March 14-15 and be a part of the global conversation!

AGENDA

March 14, 2023

8:30 – 10:00 a.m.  EST
Welcome address: Guangzhe Chen, Vice President for Infrastructure, World Bank and Ani Dasgupta, President & CEO, World Resources Institute
Opening Keynote: Bertrand Piccard, Serial Explorer and Environmentalist
Tour around the world: Mayors’ perspectives (Accra, Dhaka, Lima)

11:30 a.m. – 12:45 p.m. EST
Plenary session – Untangling Global Supply Chains: How to Make Green and Resilient Logistics a Reality

March 15, 2023

9:00 – 10:30 a.m. EST
Opening Keynote: Oleksandr Kubrakov, Deputy Prime Minister, Ukraine followed by Anna Bjerde, Vice President for Europe and Central Asia, World Bank
Plenary session – Resilient Transport: Navigating Climate Change, Conflict, and Disruptions

SPEAKERS

– Patrick Achi, Prime Minister, Republic of Côte d’Ivoire
– Oleksandr Kubrakov, Deputy Prime Minister, Ukraine
– Francois Bausch, Deputy Prime Minister, Minister for Mobility, Luxembourg
– Axel van Trotsenburg, Managing Director of Operations, World Bank
– Anna Bjerde, Vice President, Europe, and Central Asia, World Bank
– Guangzhe Chen, Vice President for Infrastructure, The World Bank
– Victoria Kwakwa, Vice President, Eastern and Southern Africa, World Bank
– Ani Dasgupta, President, and CEO, World Resources Institute
– Wayan Koster, Governor of Bali, Indonesia
– Elizabeth K. T. Sackey, Metropolitan Chief Executive, Accra, Ghana
– Atiqul Islam, Mayor of Dhaka, Bangladesh
– Bertrand Piccard, Serial Explorer, and Environmentalist

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How Diverse Leadership Teams Boost Innovation

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Jumia Launches Quick Commerce Platform In Nigeria With 20 Minutes Delivery In Lagos

By Enitan Oyenuga, HR Director, Jumia Nigeria

As the business landscape continues to evolve, it’s becoming increasingly clear that diversity and inclusion are not just buzzwords but essential elements for success. Every company needs a leadership team that understands and connects with customers from different backgrounds to deliver the best possible service. Today, companies are scrutinising their leadership teams on various criteria beyond education and experience, and having a diverse leadership team has become a necessity to build a successful business that resonates with customers worldwide.

Importance of Leadership Diversity

In the workplace, diversity encourages inclusiveness, which fosters innovation. It welcomes and respects the diverse background of each employee. It also creates a positive, supportive, and respectful working environment that encourages all employees to engage and participate freely. The importance of diversity is perhaps well displayed by a quote from Justin Trudeau, the Prime Minister of Canada, “Diversity is the engine of invention; it generates creativity that enriches the world.”

A recent study conducted by McKinsey & Company found that companies with diverse leadership teams are 33% more likely to outperform their competitors in terms of financial performance. Moreover, they are also more likely to be innovative and adapt to changes in the market.

In addition, diversity is not simply a matter of creating a heterogeneous workforce but using it to create innovative products, services, and business practices that can set a company apart and give it a competitive advantage in the marketplace. By fostering diversity in the workplace, we are bringing together various perspectives, experiences, and ideas. When people from different backgrounds and cultures work together, they are more likely to approach problems and opportunities from different angles, which can lead to creative and innovative solutions.

A business culture that welcomes and supports employees with various perspectives is bound to boost problem-solving and increase productivity. Consequently, to benefit from workplace diversity, inclusion must be integrated deeply into its culture. This holds for leadership positions just as much as for entry and mid-level ones.

How Jumia Nigeria is Enabling Diversity

At Jumia Nigeria, we prioritise diversity and inclusion in all aspects of our business. Over the years, we have implemented policies and practices to ensure everyone in our organisation is treated fairly, and feels valued and supported. This is evident across our employee lifecycle from hiring through to exit.

At Jumia, one of our core values is letting the best people and ideas grow. As such, our hiring process is open and transparent ensuring all employees are aware of and have access to all available opportunities. For example, we have recently introduced 1-minute videos where hiring managers talk about their vacancies and invite employee applications.

Similarly, our training and development opportunities are open to all employees, regardless of their background or experience.

At Jumia Nigeria, we want to be a place where people can bring their best selves without fear of discrimination, where they feel like they belong and are an important part of the team. Providing safe spaces for employees to connect with each other and share feedback are some ways we achieve this; leveraging platforms like our Jumia Women’s Network, informal team events, town halls, and HR roadshows.

Our diversity and inclusion focus also requires that we reflect the incredibly diverse markets we serve. Our diversified clientele includes a substantial percentage of women as buyers and sellers. According to the IFC 2021 report on Women and E-Commerce in Africa, over 50% of our vendors are women entrepreneurs. Giving women visible platforms and opportunities is, therefore, a no-brainer. Building a company that sets the bar for advancing female visibility is essential for us. We are implementing these measures because Nigeria offers great opportunities to reduce this gap.

We are actively tracking gender diversity at Jumia, but we also understand that diversity is much more than this. Our ambition is to promote an inclusive culture that fosters a sense of belonging while boosting productivity.

Conclusion

Despite the many benefits of diverse leadership teams, many organisations still struggle to achieve diversity in their leadership ranks. This may be due to unconscious biases or a need for more diversity in the talent pipeline. To change this trajectory, organisations must be intentional in seeking out diverse candidates and creating an inclusive culture that values differences and provides equal opportunities for all.

 

 

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