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Stanbic IBTC Receives Outstanding Community Service Award

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In recognition of its meritorious contributions to the development of Olambe Community in Ogun State, Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC, has been honoured with the Outstanding Community Service Award in the Corporate Social Responsibility (CSR) category.
The award, organised by Ascend Hotels Limited, in conjunction with Rainbow Entertainment, was held recently. It was an avenue to recognise brands and personalities who positively impacted the community through their activities.
The selection process was based on wide consultation with various community leaders and endorsement letters that provided specific details about the reputation, dynamic growth and sustainable business achievements and award recipients’ qualifications. Expressing the Bank’s appreciation for the recognition, Wole Adeniyi, Chief Executive, Stanbic IBTC Bank PLC, stated that the organisation is excited to reap the fruits of its various corporate social responsibility initiatives which is a testament of the hard work we put into supporting the underserved within the communities we operate. Adeniyi reiterated that the Bank, besides its business objectives, also strongly believes in giving back to the communities where it operates to create an enabling environment in society continually. “Through our Corporate Social Investment (CSI) initiative, which is hinged on three major pillars, namely: Education, Health and Economic Empowerment, we consistently reach out to underserved communities and provide the assistance required to make the society a better place,” Adeniyi added.
Congratulating the leading financial institution on behalf of Olambe Community, Wale Olatunde, Chief Executive Officer, Ascend Hotels Limited, urged other corporate organisations to take a cue from Stanbic IBTC Bank PLC.
He stated that the development of the various communities in the nation was a collective responsibility. According to him: “We must be intentional in offering adequate support to the government and the people of our communities to achieve the desired growth.”
Speaking on the award won by Stanbic IBTC Bank, Olatunde said: “This is a well-deserved honour given to the organisation for being dependable and supportive over the years. We recognise and appreciate the positive impact and contributions of the organisation to Olambe Community.”

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Brands and Company

How Jumia stock is rebounding and gaining momentum 

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Commerce

The last four weeks has been that of uplift in fortune for holders of Jumia stock, and the development is rightfully drawing attention of stock-inclined minds:

Fruitful yuletide: The stock sold as high as $47 a day to Christmas and has hovered between $34 and $39 since December 11th 2020. On January 12th 2021, Jumia stock sold at $40 on the floor of New York Stock Exchange.

Unexpected positive turn in fortune: Jumia recorded a 12% drop in revenue in the first three quarters of 2020, but has made a 600% increase in stock price since then.  The best part is that the stock has sustained its good momentum for over a month.

Regret for doubters: Some investors who didn’t buy Jumia stock when it sold for just over $2 in March 2020 are beating up themselves for not taking advantage. Currently trading for just over $40, some holders see an opportunity to sell. But the next few months can also bring huge fortune for those who dare to hold.

 

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Bright prospect: Analysts ascribed the improvement to investors’ belief in Jumia’s potential and are willing to overlook lagging business results for the time being. For instance, a $5,000 investment in Amazon in 1997 will translate to more than $4 million today. The current good performance of Jumia stock is an indication that the brand holds the potential of being a replica of the Amazon story in Africa.

Opportunity for Africans: Jumia prides itself as Amazon of Africa. It could end up being a smart move for Africans who buy into the dream by owning part of a brand that identifies with them.

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Brands and Company

Covid-19 Second Wave: Online Shopping Still Among Measures To Limit Spread – Jumia CEO

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Covid-19

Jumia Nigeria CEO, Massiliano Spalazzi 

As authorities put measures in place to prevent rapid spread of covid-19 in the light of the second wave of the pandemic emanating from mutation variants of the dreaded virus, Jumia Nigeria CEO, Massiliano Spalazzi has highlighted the services of ecommerce platforms as one of the measures to help mitigate the spread among Nigerians.

While speaking on the crucial role and contributions of ecommerce in the present day socio-economic reality in Nigeria, Spalazzi said online shopping will help promote the adoption of social distancing measures and eliminate the contact risk associated with brick and mortar stores, as people can purchase different products of their choice and get them delivered from the safety of their home.

“Online shopping remains one of the ways individuals can take precautions to limit the spread of Covid-19. People are being urged to avoid large gatherings, and limit human contact as much as possible. Ecommerce platforms possess all these features that will help customers keep to the safety culture. From the comfort of their safety, customers can shop on the Jumia platforms, make payment through online payment solutions like JumiaPay and get them delivered via Jumia Express, or our contactless agents,” he said.

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He pointed out the crucial role played by ecommerce platforms during the 2020 Covid-19 lockdown. “What we have seen last year has been how relevant and important e-commerce was in serving the population during these tough times. We’ve seen many different situations happen from the Covid-19, which obliged people to be locked down and having to purchase their goods in a safe way.”

During the first wave of the pandemic, ecommerce platforms served as a veritable channel for brands and businesses to connect with their customers. Global brands such as Coca-Cola, Procter & Gamble, Reckitt Benkiser, Nestle, Unilever and other essential goods manufacturers partnered with Jumia for sales of their products.

Likewise, online retail platforms were key for the survival of food and grocery enterprises when sit-in services were prohibited with customers restricted by social distancing rule. It was a period where more customers boarded the ecommerce food service train and several local restaurants partnered with Jumia to keep their food, beverage and grocery service going during the lockdown.

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Brands and Company

Dangote Cement Successfully Purchased Shares Worth N9.77 Billion

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  1. Dangote Cement Successfully Purchased Shares Worth N9.77 Billion
Dangote Cement has announced the completion of the first tranche of its share buy-back programme.
Dangote Cement Plc has announced the completion of the first tranche
Cement, industry
of its share buy-back programme, as the cement behemoth bought back shares of the company worth N9.77 billion.
This announcement was made by the management of the company, in a recent statement issued and signed by the Deputy Company Secretary, Mr Edward Imoedemhe, today, 11 January 2021.
During the first tranche of the share buyback programme which commenced on Wednesday, 30 December 2020 and ended on Thursday, 31 December 2020, the company on the open market of the Nigerian Stock Exchange purchased 40,200,000 ordinary shares of the company at an average price of N243.02, representing 0.24% of the Company’s issued and fully paid ordinary shares.
What you should know
Following the conclusion of Tranche I, the total number of residual issued and fully paid outstanding shares of DCP amounts to 17,000,307,404.
However, the completion of the share buyback programme of the company does not portend any material impact on the Company’s financial position, and the operation of the company as a going concern.

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