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Glo Sponsors Ofala Festival As Monarch Marks 20th Anniversary

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Glo Sponsors Ofala Again As Monarch Marks 20th Anniversary

Olushola Okunlade Writes

Digital telecommunications solutions provider, Globacom, has announced its sponsorship of this year’s Ofala Festival which holds from October 22nd to 23rd October 2022.

The mobile network operator has been a major sponsor of the festival since 2011.

The annual event is a customary obligation performed by His Majesty, Nnaemeka Achebe, the Obi of Onitsha. The celebration to be held at Ime Obi Onitsha will span two days including Iru Ofala on October 22 and the Azu Ofala on October 23. This year’s celebration is a twin event as the revered monarch will be using the occasion of the Ofala also to commemorate his 20th anniversary on the throne. 

Globacom said at a press conference held by the Ofala Steering Committee at Ime Obi, Obi’s Palace, Onitsha, on Thursday, October 13, 2022, that its sponsorship of Ofala, underscores its recognition of the huge potential of Nigeria’s tourism sector and the positive impact it can have on the economy and its key output sectors. 

“Being a truly Nigerian enterprise, Globacom will continue to play a leading role in promoting this sector through support for, and preservation of our rich cultural heritage such as Ofala and other festivals that we sponsor,” Globacom said. 

Glo Sponsors Ofala Again As Monarch Marks 20th Anniversary

The company referred to a recent World Travel & Tourism Council (WTTC) Economic Impact Report which indicated that “The Travel and Tourism sector in Nigeria is expected to create 2.6 million new jobs over the next decade, doubling the number of those employed within the sector by 2032.” 

“The forecast shows that an average of 260,000 new jobs will be created every year for the next 10 years, to reach more than 5.1 million. It also stated further that Nigeria’s Travel and Tourism contribution to GDP is expected to grow at an average rate of 5.4 % between 2022 and 2032, significantly outpacing the 3%  growth rate of the overall economy”, Globacom noted.

The digital transformation leader also signed a Memorandum of Understanding (MOU) with the Palace to extend the company’s sponsorship of the festival for another three years, from 2022 to 2025.

Highlights of Globacom’s sponsorship of the 2022 festival include a special promotion to provide subscribers an opportunity to win fantastic prizes including tricycles, popularly called Keke, sewing machines, and grinding machines. The promotion which started on October 3rd will end on October 19. “All a subscriber needs to do to win any of the prizes is to recharge with a minimum of N1,500 or to buy a minimum data bundle of N1, 000 before the end of the promo,” the network explained.

Events will round off with a Royal Banquet organized by Globacom in honor of the monarch on Wednesday, October 26 at the Dolly Hills Hotel, Onitsha, and  Ofala Thanksgiving service scheduled for Sunday, October 30 at St. Stephen’s Anglican Church, Onitsha.

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Abuja Hosts Glo Festival Of Joy Promo Draw

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Abuja Hosts Glo Festival Of Joy Promo Draw

Olushola Okunlade Writes

Abuja, the federal capital city, on Thursday hosted another draw to produce a new house winner in the ongoing Glo Promo, Festival of Joy.

Globacom said the keys to the house would be presented to the lucky winner in Abuja on Friday, December 2.

The draw which was held at Gloworld, Aminu Kano crescent, Wuse 11, was attended by Glo subscribers, the media, and the representative of the National Lottery Regulatory Commission (NLRC), Mrs. Mariam Imam.

Two subscribers,  Ibrahim Akindele, a student of Ekiti State University, and Ola Owonifari Joseph, a Port-Harcourt-based Engineer had earlier been presented with their house prizes in the ongoing promo which is offering 20 houses, 24 brand new cars, 100 generators, 200 sewing
machines and 1,000 rechargeable fans to Glo subscribers nationwide.

Globacom said, “subscribers wishing to participate in the promo to dial *611# and keep recharging for voice and data (as desirable) during the promo period in order to be eligible to win the prizes on offer”.

“To become a Festival of Joy landlord, all you have to do is make data subscription(s) of at least N20, 000 during the promo period. Those who are interested in winning cars should make a monthly recharge of N10,000; N5,000 monthly recharge for power generators, N2,500 monthly
recharge for sewing machines and N500 weekly to win rechargeable fans”, Globacom explained.

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Jumia’s Positioning For Growth

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Jumia

New strategy shows Jumia is well positioned for growth in Nigeria

strong optimism exists with new focus on cost discipline and return to e-commerce fundamentals

Olushola Okunlade Writes

Before e-commerce came to Africa, Nigeria was one of the nations described as a ‘cash-based’ economy. Until recently, most business transactions for goods and services were carried out by face–to–face negotiations in open markets with payments through cash or cheques.

The culture adopted by most Nigerians was to inspect goods, negotiate physically, and, if satisfied, pay. The effect of this commerce culture was that most individuals were forced to travel within and outside the country to purchase goods and services carrying physical cash.

Over the years, e-commerce adoption has grown year-on-year, with more Nigerians willing to trust online shopping. Also, in the post-pandemic era, people now rely more on shopping for items online that can easily be easily delivered. This demand has made it even more important for e-commerce companies like Jumia to step in and fill the gap by providing innovative trading opportunities for thousands of sellers to connect with millions of consumers in Africa.

Jumia continues to navigate Africa’s business environment, where a  myriad of regulatory, logistic, socio-cultural, and technological challenges exist. Every country where Jumia operates has a unique environment. Notwithstanding, the company has built an innovative multi-purpose platform that empowers small businesses and consumers in the continent.

What Does the Future Hold?

The dust is now settled on the leadership changes in Jumia, which has seen several market watchers predicting a new lease of life in the company. Following the recent announcement from the company, it is important to analyse its third-quarter 2022 financial report and the new strategy from the management team to see what the future holds.

The third quarter of the year saw Jumia record substantial revenue and gross profit growth, according to the company’s financial earnings report. The most recent statistics show that $50.5 million was generated in revenue in Q3 2022, an increase of 6% from the $47.6 million reported in Q2. This also represents an 18.4% increase from the $42.7 million reported in the same period last year.

Interestingly, Jumia’s acting CEO, Francis Dufay, laid out the new business strategy for the company during the Q3 2022 earnings call, stating that the recent focus on cost discipline and return on investment speaks to an ever-increasing need to make the company profitable in the near future. Results for Q3 showed more encouraging signs that the company is on the right path.

He further stated that the company intends to bring more focus to the core business, allocating capital, resources, and teams to main areas and projects with attractive returns on investments and clear ecosystem benefits. Jumia will deemphasise or cease projects and ventures that do not meet such criteria. In line with the above, the company will scale back First Party grocery offerings in geographies where this category remains sub-scale. In addition, Jumia Prime will be paused indefinitely from the 1st of January 2023 as the company looks to focus more resources in other areas of the business.

It is important to note that the company plans to keep logistics open to third parties only in the countries where they have strong assets (Nigeria, Ivory Coast, Morocco). The e-commerce opportunity in Nigeria remains vast with a very young population and growing middle class. Hence, this new focus will further strengthen the company’s hold in its biggest market.

Going forward, the company is looking to continue strengthening its foothold in all the countries where it is currently operational. However, this is likely to come with changes to its operating model. In a statement released by Francis Dufay, Acting CEO of Jumia, “We have a clear focus for the next chapter of our journey and are taking decisive action to support our path to profitability. We will bring more focus to the business, directing our efforts and resources to projects and activities that deliver tangible value to our consumers, sellers and broader ecosystem participants. We are also enforcing tighter cost discipline and driving efficiencies across the full structure while enhancing the fundamentals of our core e-commerce business to drive user growth.”

The company is showing greater willingness to constantly invest in Nigeria and has stated it would be making some adjustments in its organisational setup in the coming weeks. Allocating more people and resources to its marketplace, tech, and in-house logistics platform are some of the strategies expected to enhance future success.

Clearly, there is strong optimism that this new strategy will continue to deliver value to Jumia’s consumers in Nigeria. The company is on the right path to profitability through growth and optimization.

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Yvonne Jegede Had Mercy Johnson Okojie All Emotional In Episode 2 Of “Mercy’s Menu” Season 3

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Yvonne Jegede Had Mercy Johnson Okojie All Emotional In Episode 2 Of "Mercy's Menu" Season 3

By Moninuola Sulaiman

In this episode of Mercy’s Menu season 3 Mercy Johnson Okojie is joined by her colleague, Nollywood star and Film producer, Yvonne Jegede.

The movie stars shared exciting conversations and emotional moments as they prepared Peri Peri Chicken and Coconut Milk Pasta.

They discussed her Marriage, Divorce, Son, Challenges, and Charity work.

This episode was filled with so many emotions.

Click on the YouTube link for Mercy’s Menu Season 3 (Episode 2)

Watch video below

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