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Nigerian Breweries Holds Extra-Ordinary General Meeting, Recommends 2.1 Billion Bonus Shares To Shareholders

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we look forward to the dividends that this initiative will bring to the various areas where the beneficiaries live

Olushola Okunlade Writes

Nigerian Breweries Plc, the foremost brewing company in Nigeria is set to hold an Extraordinary General Meeting (EGM) on Thursday, December 8, 2022, at the Grand Ball Room, Oriental Hotel, Victoria Island, Lagos State.

At the meeting, the Board of Directors of the Company is proposing a bonus issue of one (1) new share for every four (4) shares held by qualifying Shareholders, that is those on the Register of Members at the close of business on Tuesday, 6th December 2022.

The Board’s proposed bonus share scheme is expected to be implemented upon the receipt of the Shareholder’s approval at the EGM. In view of the Company’s huge Share Premium Account, the Board decided to reward the company’s shareholders with the bonus share scheme as the best option to close the gap between the issued and unissued shares as required by the Corporate Affairs Commission.

Other items proposed by the Board for Shareholders’ approval at the EGM include an increase in the Company’s share capital to accommodate the bonus shares, a change in that regard in the share capital clause in the Memorandum of Association, and updates to some provisions in the Articles of Association to align with the 2020 Companies and Allied Matters Act.

In furtherance of the Company’s commitment to continue to deliver value to its Shareholders, an interim dividend of 40 kobo per ordinary share of 50 kobo each was paid on 1st December 2022 to Shareholders whose names appeared in the Register of Members of the Company as at close of business on 23rd November 2022.

Speaking on the bonus issue proposal and the interim dividend payment, the Company Secretary/Legal Director, Uaboi Agbebaku explained that both actions clearly demonstrate the commitment of the Board to continue to reward Shareholders for their investment in the Company.

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Sterling One Foundation Wins CSR Award of Excellence

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Sterling One Foundation Wins CSR Award of Excellence

Olushola Okunlade Writes

Sterling One Foundation has won AS+A Communications’ Award of Excellence for Corporate Social Responsibility in recognition of its positive impact across Nigeria.

As part of its annual award ceremony and commemoration of its Managing Director’s 70th birthday, AS+A Communications awarded the Sterling One Foundation its Corporate Social Responsibility Award of Excellence at an event held in Lagos recently.

The award presented by the company’s Managing Director, Mrs. Adenike Shobanjo, was in recognition of the foundation’s developmental legacies in the areas of health, education, and environment, in partnership with its corporate partner, Sterling Bank.

Mrs. Shobanjo during her opening remarks explained that her company hosts this annual event because of how important it considers social impact work and the role that corporate organizations play in ensuring that the transformation it brings is widespread and has long-term effects.

While presenting the award to Sterling One Foundation, she applauded the efforts of Sterling Bank in setting up the Foundation and empowering them to make a lasting impact in society.

She further charged businesses operating in the country to prioritize corporate social responsibility for the development of the nation.

In her words, “There are influential, well-placed, and endowed Nigerians who sit in their closets without any care for the underprivileged. This event is to encourage them to come out and join us in building a just and egalitarian society.”

“This award is in recognition of all the successes that Sterling has achieved over the years as a socially responsible organization, most especially in areas of health, education, and agriculture,” said Shobanjo.

Accepting the award, the CEO of Sterling One Foundation, Mrs. Olapeju Ibekwe, thanked the organizers while stressing the organization’s focus to contribute to the achievement of the Sustainable Development Goals (SDGs), as a way of improving the livelihood of Nigerians and Africans living in underserved communities.

She said that Sterling One Foundation’s focus areas; education, health, climate action, gender equality, and food security are all critical areas that require urgent attention for progress to happen.

She went on to highlight that; “In 2023, the Sterling One Foundation plans to focus on expanding its education programs to reach more out-of-school children, train and fund at least 100,000 youths, plant 10 million economic trees and adopt key primary health centers in at least 10 states through key partnerships.”

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Promoting Private Sector Investments; IFC Visits BUA Cement HQ In Lagos

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Promoting Private Sector Investments; IFC Visits BUA Cement HQ In Lagos

By Moninuola Sulaiman

Abdul Samad Rabiu, CFR, CON, Chairman, and Founder of BUA Group today received a delegation from the International Finance Corporation led by Sérgio Pimenta, Regional Vice President for Africa, at the BUA Cement HQ in Lagos State.

Left-Right: Abdul Samad Rabiu, Chairman, BUA, in a discussion with Sérgio Pimenta, Regional Vice President for Africa, International Finance Corporation (IFC) during a working visit of the IFC to BUA Cement HQ in Lagos.

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E-Commerce Trends In Nigeria For 2023

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E-Commerce Trends In Nigeria For 2023

Olushola Okunlade Writes

The rise of digital commerce has given birth to new ways for e-commerce retailers to improve their businesses and deliver an exceptional customer experience.

This is due to the industry’s constant adaptability to meet new demands and opportunities to create a seamless shopping experience by offering consumers a wide variety of products and services and finding new ways to connect with consumers through digital storefronts.

As a business owner or someone involved, staying current with market trends is critical to capitalize on upcoming opportunities and lessen the impact of potential disruptions.

Over the last three years, e-commerce has significantly grown, pushing millions more consumers to shop online. In 2023, the e-commerce industry is set to slowly take over the world, as revenue in the market is projected to reach US$9.02 billion in 2023.

Here are some of the most significant and disruptive e-commerce trends that could be adopted to enhance customer experience while also expanding businesses:

The Rise of Social Commerce

A trend that is expected to gain momentum in 2023 is the use of social media for e-commerce. Many businesses in Nigeria are already using platforms like Facebook and Instagram to sell their products, but this trend is expected to increase in the coming year as social media is a powerful tool for reaching potential customers and building brand awareness. Businesses that take advantage of this trend will be well-positioned for success.

The Rise of Omnichannel

Shoppers are no longer limited to a single device or channel as they research products, compare prices, complete a sale seamlessly across channels, and flip between devices without losing their place in the purchase journey. According to the National Communication Commission (NCC), 89% of internet users make purchases online, with another 24% planning to do so in the near future.

This trend has led many e-commerce platforms, like Jumia, to ensure that their channels can be accessed regardless of the platform or channel. As a result, consumers can log in to their accounts through the app or website on any device of their choice. This ease of shopping is expected to contribute to an increase in online sales.

Seamless Payment Options

Nigeria’s economic policy is gradually shifting towards cashless payment, with digital and electronic banking being implemented nationwide. Furthermore, following the announcement of the new withdrawal limit by the Central Bank of Nigeria, more transactions are expected to be conducted electronically.

This demand for electronic transactions has attracted payment facilitators from all over the world as Nigeria’s online commerce and financial technology industries are strengthened by a fast-growing youth population, expanding consumer power, and increased smartphone penetration. This is especially important for small businesses that use payment solution providers to ease the payment process for their customers. Payment Solutions Service Providers, like JumiaPay, can take advantage of these opportunities in the market.

Beyond this, payment solution providers, like JumiaPay, would also benefit from offering services for electricity bills payment, TV subscriptions, and airtime/data recharge to their consumers.

Consumer Personalization

Another important trend in 2023 is the increasing use of artificial intelligence and machine learning in e-commerce. These technologies can help businesses personalize their customer interactions, improve the accuracy of their recommendations, and make more informed decisions.

Personalizing a customer’s online shopping experience is crucial to increasing online sales and bolstering e-commerce success. Users are growing weary of algorithm-powered interfaces instead of user-generated or user-inspired interfaces and longing for tailored and customized experiences. Customers want to believe someone is paying attention to them behind a computer screen. It doesn’t have to be anything elaborate; it might be as straightforward as a customized email, a carefully chosen discount code, or something else.

Overall, the e-commerce industry in Nigeria is expected to see significant growth in 2023, driven by rising smartphone adoption, a growing middle class, and government support. Businesses that are able to keep up with these trends and adapt to the changing market will be well-positioned for success in the coming year.

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