A United Nations (UN) report released on Thursday, 9 January 2025, predicted that global economic growth would remain at 2.8% in 2025, unchanged from 2024, with the US and China holding the reins.


The World Economic Situation and Prospects report available to BrandSpur digital news platform stated that “positive but somewhat slower growth forecasts for China and the United States” would be complemented by modest recoveries in the UK, Japan, and the EU as well as strong performance in some large developing economies, particularly India and Indonesia

The UN Department of Economic and Social Affairs stated in a report: “Despite continued expansion, the global economy is projected to grow at a slower pace than the 2010–2019 (pre-pandemic) average of 3.2%.”



“This subdued performance reflects ongoing structural challenges such as weak investment, slow productivity growth, high debt levels, and demographic pressures,” it added.


According to the analysis, as consumer spending slows and the job market softens, US GDP is predicted to decline from 2.8% last year to 1.9% in 2025.


According to the report, growth in China is expected to be 4.8% this year and 4.9% in 2024, with robust export performance and investments in the public sector partially offsetting slow growth in consumption and persistent difficulties in the real estate industry.

According to the research, Europe’s recovery would be moderate, with growth rising from 0.9% in 2024 to 1.3% in 2025, “supported by easing inflation and resilient labour markets.”

With regional GDP predicted to grow by 5.7% in 2025 and 6% in 2026, South Asia is predicted to continue to be the fastest-growing area in the globe. This growth will be aided by India’s impressive performance as well as economic recoveries in Bhutan, Nepal, Pakistan, and Sri Lanka, according to the research.

Furthering, the largest economy in South Asia, India, is expected to grow by 6.6% in 2025 and 6.8% in 2026 due to strong private investment and consumption. Major central banks are anticipated to further lower interest rates in 2025 as inflationary pressures subside, according to the analysis. It is anticipated that global inflation will decrease from 4% in 2024 to 3.4% in 2025, providing some respite for both individuals and companies.

It urges audacious multinational action to address interrelated challenges such as inequality, debt, and climate change.

The report went on to reveal: “Monetary easing alone will not be sufficient to reinvigorate global growth or address widening disparities.”

SOURCE:https://brandspurng.com/2025/01/12/un-predicts-global-economic-growth-to-remain-at-2-8-in-2025/

Leading Financial Institution, Fidelity Bank Plc, has donated maternity kits to 30 pregnant women at Mushin Primary Health Centre (PHC), Lagos.
The donation, organized by the Great Minds Inductees Class, was made possible through the Fidelity Helping Hands Program (FHHP), a Corporate Social Responsibility (CSR) initiative by Fidelity Bank Plc aimed at promoting staff involvement in community development.

Through the FHHP, staff across the bank’s business locations identify projects that benefit their immediate community and gather funds to implement them. The bank’s management then matches this contribution with an equivalent amount and allocates it for the chosen projects.



Speaking at the handing over ceremony, the Divisional Head, Brand and Communications Division, Fidelity Bank Plc, Dr Meksley Nwagboh, noted that, “The project was borne out of the need to support pregnant women by providing them with essential materials for a safe delivery.”


Nwagboh noted that, “Maternal mortality remains a significant public health challenge in Nigeria, with the country accounting for a substantial proportion of global maternal deaths. In fact, a 2023 United Nations report indicate that nearly 28.5% of global maternal deaths occur in Nigeria. This is an alarming statistic and as a bank given to improving the welfare of our host communities, we deemed it fit to support initiatives to address this challenge in the Mushin community with this donation.”
Appreciating the bank’s gesture, the Medical and Health Officer for Mushin Local Government Area, Dr. Kayode Odufuwa, noted that, “This intervention by Fidelity Bank will help reduce maternal mortality and encourage more women from less-privileged backgrounds to register for antenatal care.”

“On behalf of the Chairman of Mushin LGA, Mr. Emmanuel Bamgboye, we want to express our heartfelt gratitude to Fidelity Bank for extending its donation of maternity kits to pregnant women at this center. We appeal for continued collaboration with the Bank to further strengthen healthcare services within the area,” he stated.

On her part, the Apex Nurse and Deputy Director of Nursing Services in Mushin LGA, Mrs. Bolanle Odunlami, poured encomiums on Fidelity Bank for their generosity while noting that, “The donation is a much-needed relief for many mothers who are unable to afford essential delivery kits. Fidelity Bank has truly shown empathy by coming to the aid of our patients, and for that, we are extremely grateful,”.
One of the beneficiaries, Mrs. Mary Olusanya, expressed her heartfelt appreciation for the bank’s support. “I appreciate Fidelity Bank for helping us. Many pregnant women cannot afford these kits, but this donation ensures that we can have safe deliveries and better healthcare,” she said.

Ranked as one of the best banks in Nigeria, Fidelity Bank is a full-fledged customer commercial bank with over 8.3 million customers serviced across its 251 business offices in Nigeria and the United Kingdom, as well as on digital banking channels. The bank has won multiple local and international awards, including the Export Finance Bank of the Year at the 2023 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, the Best Payment Solution Provider Nigeria 2023, and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards; Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023; and Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.

SOURCE:https://brandspurng.com/2025/01/09/fidelity-bank-supports-improved-maternal-health-in-lagos/

Through a 10-year, $100 million program, the Tony Elumelu Foundation (TEF) is leading a game-changing effort to find, educate, coach, and finance 10,000 African entrepreneurs by 2025.


Successful program participants will earn US$5,000 in seed funds to launch their business ideas, receive 12 weeks of intensive online training, and work with a top-tier mentor. There will also be chances for further investment.

Additionally, they will be able to connect with the vast network of startups in the TEF. The Elumelu family has invested US$100 million in the Tony Elumelu Foundation Entrepreneurship Program, which will provide focused training, financial support, and mentorship to 10,000 African entrepreneurs over ten years.



Aim Of The Program


The program aims to boost Africa’s economy by over US$10 billion and create at least 1 million employment. The TEF keeps empowering African entrepreneurs and bolstering the entrepreneurial ecosystem in all 54 African nations through its flagship Entrepreneurship Program.

How the Program Operates

The TEF training program is specially made to divide entrepreneurs into groups according to their level of expertise and proven talents. With an emphasis on the particular difficulties faced by company owners throughout the African continent, this course is designed to give participants the tools they need to launch or expand their enterprises.

Even when the training time is over, the curriculum’s emphasis on experiential and iterative learning ensures its relevance and applicability.

Eligibility for the Program

Who is eligible to apply?

All citizens and legal residents of any of the 54 African nations are eligible to participate in the program. Africa is where the planned business must be registered and run.
• Are applicants subject to an age limit? Indeed.

Candidates must not be regarded as minors in their home countries and be at least eighteen years old. The maximum age for applicants is not specified.

• Does my company’s age have any restrictions? Indeed.

All enterprises must be either early-stage or brand-new during the first five years of their existence.

• What happens if I manage several start-up companies?

Your application should only be about one business. It is advised that you select the most creative and viable business concept. Even with a different name or business concept, chosen entrepreneurs are not permitted to reapply for subsequent program cohorts.

• If I have a family who works for TEF, will my start-up be disqualified? Indeed.

The TEF Entrepreneurship Program does not accept applications from Tony Elumelu Foundation employees or their families.

Employees and their families from affiliate businesses in the UBA Group and Heirs Holdings Group are also subject to this ban. Applications from such people will not be taken into consideration, regardless of whether they are filed individually or in a group.

For whom is participation in the TEF Entrepreneurship Program ineligible?

Partners in TEF Audits and their Close Family Members.
Employees and their immediate family members of businesses connected to the Tony Elumelu Foundation that have contributed to the development or management of the program.
This program was created and administered by the promoter’s consultants and agents, as well as by employees and their immediate family members in cases where the consultants and agents are entities.

The program will not accept applications from:

Government organisations, corporations, faith-based organisations, or research institutes that are not established in Mali.
Applications from business partners or TEF alumni.
Applications from those who were rejected from any prior TEF program.
Applications that use automated devices or processors, scripts, macros, or other digital tools to obtain an unfair advantage.
Applications that are inaccurate and lacking information.
Applications that include businesses or business ideas that are unlawful or unethical.
BrandSpur national news reports the Procedures for Applying

How can I apply for the program?

All applications must be filled out and submitted online at tefconnect.net, the official application portal.
To submit an application, candidates must answer a set of needed questions.
What takes place following submission?

An email acknowledging receipt of your application will be sent to you when it has been submitted.
What happens if my company is a partnership?

Only one selected person from the company or partnership may take part in the program in the case of a partnership. This person must own an equal or majority ownership in the company and secure approval from all partners.
Can I submit an offline application?

No, we do not accept offline applications. The only way to submit any applications is via tefconnect.net.
What happens if my first language is not English?

To make the application form accessible to non-native English speakers, it is also available in Arabic, French, and Portuguese.
What details or proof of identity are needed for the application?

Candidates must fill out the application form with accurate and current information in all required fields.
Does the application come with any costs?

No, there are no costs associated with applying to the program from the Tony Elumelu Foundation.

SOURCE:https://brandspurng.com/2025/01/02/tony-elumelu-foundation-sets-to-train-finance-10000-african-entrepreneurs-in-2025/

The Independent Corrupt Practices and Other Related Offenses Commission (ICPC) has recovered nearly N52 billion, $966,900.83, and other assets in the past year.

Dr. Musa Aliyu, SAN, the Anti-graft Agency’s Chairman, who made the revelation, credited the firm dedication to the rule of law for the noteworthy milestone accomplishment. He gave a speech on Tuesday in Abuja at a function accessed by BrandSpur national news story, commemorating his one-year tenure as ICPC chairman.

Dr. Aliyu also linked the Commission’s success to its ability to adjust to changing trends and provide its employees with digital tactics for combating corruption.

Continuing, he had this to say: “The current administration’s anti-corruption agenda and my own policy thrust encapsulated in the acronym “CARE” for impact, have further motivated the Commission to enhance its tools, approaches, and engagements. I am, therefore, bold and proud to reflect on the modest progress we have made and the challenges we have overcome so far.


“These accomplishments include notable asset recoveries, enforcement actions, and initiatives promoting transparency and good governance. For instance, through its Constituency and Executive Projects Tracking Initiative (CEPTI), the Commission continues to ensure accountability in government funds and deliver tangible benefits of democracy to citizens across Nigeria,” he added.

According to Dr. Aliyu on the assets recovery: “N29.700 billion in cash” was recovered and presently domiciled in ICPC recovery accounts. N10.986 billion VAT was recovered and remitted to FIRS. N10 billion COVID-19 vaccine fund meant for the production of vaccines was remitted to the treasury. Value of asset through final forfeiture – N2.5 billion.”

According to ICPC, $966,900.83 was recovered and secured in the ICPC-CBN account balance pushed forward in the area of foreign currency recovery. In the same vein, the anti-graft agency reported that it recently finished tracking 1,500 projects nationally under CEPTI Phase 7, totaling N610 billion.

Furthering, Dr. Aliyu revealed that throughout the last year, the Commission has handled 851 petitions, of which 342 have been assigned for investigation, 95 have been thoroughly investigated, 72 cases have been filed in court, and 16 convictions have been obtained.

In his words: “In this regard, we are streamlining our processes to ensure faster and more effective prosecution of cases, leading to the resuscitation of 10-15-year-old cases in courts.”

Dr. Aliyu went on to reveal that the Commission evaluated 323 Ministries, Departments, and Agencies (MDAs) using its Ethics and Integrity Compliance Scorecard (EICS) as part of its dedication to institutional responsibility. To strengthen its anti-corruption initiatives, he noted, 80 Anti-Corruption and Transparency Units (ACTUs) were also established throughout MDAs.

“while doing these, the Commission stopped the diversion of public funds to the tune of N5.882 billion.”

SOURCE:https://brandspurng.com/2024/12/20/icpc-recovers-about-966900-83-n10-986-billion-vat-other-assets-in-a-year/

The Committee of Banks in Nigeria on Thursday lifted the victims of the recent flooding in some parts of Jigawa State with a solidarity visit to Dutse, the state capital, during which they made donation of assorted items of relief materials to the State Government as part of their own contribution to alleviate the plight of those impacted by the September 2024 natural disaster.


The donation of the relief materials comprising food items, including bags of rice, cartons of vegetable cooking oil, mattresses, and beverages were presented to the Governor of Jigawa State, Malam Umar A. Namadi, by a high-powered delegation of the Committee of Banks in Nigeria led by their Chairman and Group Managing Director/Chief Executive Officer (GMD/CEO), United Bank for Africa Plc (UBA), Dr. Oliver Alawuba.

Other banks’ CEOs that were on the delegation included the Managing Director/Chief Executive Officer (GMD/CEO), Access Bank Plc, Mr. Roosevelt Ogbonna; Group Managing Director/Chief Executive Officer (GMD/CEO), Zenith Bank Plc, Dame (Dr.) Adaora Umeoji; and Group Managing Director/Chief Executive Officer (GMD/CEO); Fidelity Bank Plc, Dr. (Mrs.) Nneka Onyeali-Ikpe.

In his remarks while presenting the relief materials, Dr. Alawuba stated that the gesture by the bankers was one of the ways to empathise with the government and people of Jigawa State, and importantly the residents who were severely impacted by the floods. He added that the relief materials were targeted at boosting the current multi-stakeholder efforts to support the flood victims in getting back on their feet, as well as supporting critical institutions that provide care for the victims, especially public hospitals.


“I stand before you today as the Chairman of the Committee of Banks in Nigerian, to demonstrate our solidarity with the Government and good people of Jigawa State. Principally, we are in Jigawa State to empathize with the State Government, families, and relations of those who were severely impacted by the recent flooding that occurred across some local government areas of the state, in specifically in September this year. We pray for the repose of souls that were lost in the devastating floods, as well as comfort for their families. We also pray for the recovery and restoration of those who lost properties and valuables during the floods,’’ he said.

Speaking further, Dr. Alawuba asserted: “We are here today to lend our hand of help to the State Government by donating relief materials worth several millions of Naira in support of the affected residents, and also critical institutions that provide care such as public hospitals. We believe the relief materials consisting of food items such as; bags of rice, cartons of vegetable cooking oil, mattresses, and beverages would go a long way in providing comfort and lessen the burden of the victims impacted by the floods.’’

The Chairman, Committee of Banks in Nigeria added that the humanitarian gesture was a testament to the Nigeria banking sector’s commitment to supporting the well-being of Nigerians in times of need. “As bankers, we are not just concerned about the economic implications of natural disasters; we are also deeply troubled by the human suffering that accompanies them. We believe that it is our collective responsibility to support those affected and help them rebuild their lives,’’ he noted.

Dr. Alawuba stated that the gesture further affirmed the commitment of the Nigerian financial institutions to leading from the front as agents of positive change in society, while assuring that they would continue to work together to support those in need, promote economic growth and development, and to contribute to the well-being of our great nation.

He expressed gratitude to his colleague CEOs of Nigeria banks for their generosity and contribution to the relief effort. “Your support underscores our unrelenting passion for national development and care for the environment where we do our business,’’ he applauded.

Dr. Alawuba affirmed the long history of commitment of the Nigerian banking and financial institutions to the well-being of the Nigerian people and the environment, stating that the banking sector provided similar interventions to the victims of the 2011 flooding which affected 28 states and that of 2013 flooding which affected 32 states of the federation. Other interventions by the financial institutions include corporate support for the management and containment of the spread of COVID-19 pandemic in 2020, including funding support for public healthcare infrastructure, and access to credit for micro and small businesses to stay afloat in the post-pandemic era.

He said, “Notably, we were proud to be part of the Central Bank of Nigeria-led Private Sector Coalition Against COVID-19 (CACOVID) Relief Fund, where we contributed significantly to the Fund’s efforts to provide palliatives to vulnerable Nigerians and strengthen the nation’s healthcare infrastructure. The intervention of the banking sector resulted in over Thirty-two Billion Naira (N32 billion) being pooled to fill a significant funding gap for the governments during the unexpected global pandemic.

“Furthermore, as we navigated the post-pandemic era, Nigerian banks played important roles in helping businesses recover. Banks in Nigeria supported firms of all sizes, to mitigate the impact of the extended lockdown and disruption to business activities in many ways. Through the stabilization funds, Nigerian banks provided loans and credits to small and medium businesses to stay afloat, thereby ensuring business sustainability, preventing job losses, and fostering national economic growth.’’

Additionally, Dr. Alawuba said Nigerian banks also support many other laudable initiatives across both economic and non-economic sectors, one of which is in the area of security. For example, he said banks have continued to support the Lagos State Security Trust Fund, which has become a model copied by other states for sustainable funding of the training, equipment, and welfare needs of personnel of the Nigeria Police deployed to the state. He said the support has led to improved security of lives and property in the state.

He disclosed further that the banking sector supported the government in rebuilding and remodeling of Police stations destroyed in the wake of the #EndSARS protesters, in 2020. With the support, he added that officers and men of the Nigeria Police now have more befitting workplaces to function.

The bankers commended Governor Namadi, the federal and state governments, donor agencies and other stakeholders for the efforts in responding to the need of the victims of the flooding, while noting that, through collective efforts and actions, we could all make a big difference in the society, as well as build a prosperous nation that works for all.

Responding, Governor Namadi thanked the Committee of Banks in Nigeria for their humanitarian gesture, describing it as a rare demonstration of love, care and empathy for humanity. He said he was particularly touched receiving such a high number of bank chiefs leaving their offices to come and show solidarity to the families and individuals affected by the flood.

“On behalf of the government and people of Jigawa State, I want to most sincerely thank you for this visit. Certainly, what you have done today has demonstrated a good sign of love, care and maturity because, I don’t think it has ever happened like this, for four managing directors of the big Nigerian banks leaving their offices and come and sympathise with us on the incident that happened to us; that has shown the serious sign of love, care and maturity,’’ he enthused.

Governor Namadi assured that the state government would continue to seek opportunities to work together with the financial institutions as critical enablers of socio-economic growth, adding that with the significant support of the banks, the task of supporting the flood victims to get back to normal life had received a boost.

He stated, “So whilst I really thank you very much, I assure you that as we go on we will continue to work together for the betterment of this country. Certainty, some time two of you at one time or the other has done something to help out Jigawa State and today again we are putting ourselves together as the body of banks’ CEOs also coming to our aide, to help our people and bring them back to life in order to move forward.’’

The governor gave the assurance that the donated relief materials would be judiciously used and get to the people they were meant for. “I also want to assure you that the Jigawa State government will continue to work together with you, to ensure that we improve the lives of those affected by the devastating floods.

“Like we said, these people have really suffered a lot; they lost their means of livelihood which is not easy at this time, but with the people and body like yourself, these people have a lot of hope and then at least they are being shown they have brothers and sisters that are there for them in their time of need. So, we really appreciate this gesture and we are not taking it for granted. We pray that God almighty will replenish your purse for what you have done for our people,’’ Governor Namadi stated.

Other personalities on the delegation for the donation of the relief materials were President, Association of Corporate Affairs Managers of Banks (ACAMB), Mr. Rasheed Bolarinwa; the Registrar/Chief Executive Officer, Chartered Institute of Bankers of Nigeria (CIBN), Mr. Akin Morakinyo, and others.

SOURCE:https://brandspurng.com/2024/12/20/committee-of-banks-in-nigeria-donates-multimillion-naira-relief-materials-to-jigawa-flood-victims/

Lagos, Nigeria – December, 2024: As part of its commitment to enhancing agricultural productivity and fostering food security in Nigeria, the Bill & Melinda Gates Foundation (BMGF), in partnership with the African Forum for Agricultural Advisory Services (AFAAS), hosted a stakeholder convening to validate plans for a transformative PPP DAES solution. The event, held on December 17, 2024, at the Marriott Hotel in Ikeja, Lagos, brought together stakeholders from the public, private and development sectors to explore innovative solutions that address the challenges faced by smallholder farmers and support Nigeria’s food security ambitions.

This initiative represents a significant step in addressing critical challenges faced by smallholder farmers in Nigeria, who contribute up to 90% of the country’s food production. These farmers face barriers, including limited access to advisory services, fragmented private sector solutions, and underfunded public extension systems, which limit their ability to adopt innovative practices and access markets effectively.


The proposed PPP DAES solution aims to bridge these gaps by leveraging financial sustainability, user-centred design, and tailored solutions to deliver agronomic, market, and financial information at scale. This system seeks to ensure long-term viability while aligning with Nigeria’s agricultural goals of self-sufficiency and import substitution by prioritising private sector leadership.


The event also showcased findings from a scoping study on DAES solutions and highlighted innovative delivery methods that are low-cost, scalable, and site-specific. Participants explored how these solutions can enhance access to real-time, localised support for agro-businesses and farmers, fostering productivity, traceability, and market access for key value chains, including maize, cassava, and cocoa.


Speaking at the convening, Tawanda Hove, Senior Program Officer, Digital Agronomy at the Bill & Melinda Gates Foundation, remarked the Gates Foundation is deeply committed to supporting Nigeria’s journey toward agricultural self-sufficiency. Smallholder farmers are the backbone of the nation’s food security, and empowering them with the right tools and information is essential. Today’s discussions are pivotal in building a sustainable, user-focused advisory system that aligns public and private sector resources to deliver transformative impact.

During the event, stakeholders also reviewed findings from a scoping study and examined elements of proposed operational frameworks and funding models to ensure the system’s financial feasibility. Discussions also highlighted the importance of inclusivity, with plans to integrate technologies such as Unstructured Supplementary Service Data (USSD), Interactive Voice Response (IVR), and smartphone applications to make the platform accessible to all, particularly women and underserved communities.

Also speaking at the event, Silim Nahdy, AFAAS, said, “We believe that the future of agriculture in Africa lies in leveraging technology to bridge the gaps in knowledge and resources. Through collaborative efforts like today’s convening, we can design innovative, locally relevant solutions that empower farmers and build resilient agricultural systems across the continent.”

The event concluded with key outcomes, including commitments from private sector participants to co-invest in digital solutions, consensus on user-centred product features, and strengthened stakeholder collaboration. These milestones set the foundation for the final development of the DAES product profile design with a sustainable business model.

This convening represents a pivotal milestone in Nigeria’s journey to transform its agricultural sector through innovation and partnership, unlocking new opportunities for smallholder farmers and fostering economic resilience.

About the BMGF
The BMGF works to ensure that everyone, everywhere, can lead healthy and productive lives. The Foundation supports innovations in agriculture that help smallholder farmers in developing countries increase their productivity, adapt to climate change, and achieve economic security.

About the AFAAS
AFAAS is a continental organisation that promotes effective agricultural extension and advisory services to empower smallholder farmers across Africa. Through partnerships and innovation, AFAAS aims to create resilient agricultural systems that drive sustainable development.

SOURCE:https://brandspurng.com/2024/12/18/nigeria-advances-agricultural-transformation-through-digital-innovation/

After years of smaller updates, Apple is reportedly thinking big by thinking thin.


The tech giant plans to debut a new iPhone next year that will be thinner than current models, The Wall Street Journal (WSJ) reported Sunday (Dec. 15), citing sources familiar with the company’s plans.

The report said this model is intended to cost less than iPhone Pro models, with a simplified camera to cut costs, designed to serve as an alternative for consumers who want a sleek-looking phone and are OK with not having all the features offered in Pro models.



Meanwhile, Apple is also planning two foldable devices, the sources said, one that would double as a laptop and a smaller one that would be a foldable phone.


According to the report, both foldable devices have been in the works for years, though some crucial components weren’t ready, and Apple faces challenges to perfect the hinge that opens and closes the devices.


Sources told WSJ that Apple experimented with designs like having a display on the outside of the device when it is folded, but it is now in favor of an inward-folding design. The company is pushing to release the foldable iPhone in 2026, the sources added.

Jeff Pu, an analyst with Hong Kong-based brokerage Haitong International Securities, said that the foldable phones currently available aren’t thin, light or energy-efficient enough to meet Apple’s standards, which is why Apple has been slower to tackle this market.

Apple is yet to respond to media houses that have contacted them for comments.

The news comes months after Huawei, one of Apple’s biggest smartphone rivals in the crucial Chinese market, introduced its own foldable phone just before the debut of the iPhone 16, which featured Apple’s artificial intelligence (AI) offerings.

Richard Yu, Huawei’s consumer group chief, announced the launch on social media platform Weibo, saying the company had spent five years on what is said to be the world’s first commercial-ready, twice-folding smartphone, and what Yu dubbed “an epoch-making product.”

Meanwhile, BrandSpur Tech news reported last week that while the smartphone market enjoyed a recovery during 2024 after two years of sharp declines, Apple played only a small role in that rebound.

Data from research firm IDC showed rival Android phones growing 7.6% this year in Asia (excluding Japan and China), Latin America, the Middle East and Africa, while iPhones sales were projected to climb only 0.4% for the year.

SOURCE:https://brandspurng.com/2024/12/16/apple-plans-thinner-foldable-iphones-to-improve-business-growth/

A new Grandoreiro banking malware has prompted an urgent warning from the National Information Technology Development Agency (NITDA) via its Computer Emergency Readiness and Response Team (CERRT.NG).


Targeting both individuals and companies, this highly sophisticated Trojan is causing havoc throughout the world by using phony websites and phishing methods to steal private financial data and take over machines. Grandoreiro Malware Overview Grandoreiro is a banking Trojan that tricks users into installing malicious software by posing as genuine updates or documents through phishing emails and phony websites. This malware uses sophisticated techniques, such as remote device control and screen overlay attacks, to gather private data and banking passwords.

The warning highlights how dangerous the issue is and how gullible consumers could unintentionally give hackers access to their devices and damage their financial information. The warning states that the Grandoreiro virus poses serious hazards, such as:

Unauthorized access to Internet bank accounts: When victims lose control of their accounts, financial theft may result.
Data theft: Private and sensitive financial information could be compromised.
Remote exploitation: By taking over the victims’ devices, attackers can get beyond security measures and carry out more nefarious actions.
Economic repercussions: Unauthorized transactions or compromised systems may result in financial losses for both individuals and companies.
Preventive Actions


BrandSpur technology and information news desk reports that NITDA has listed several preventative measures to lessen the dangers posed by the Grandoreiro malware:


Be cautious when opening attachments or clicking links in emails from unfamiliar or unsolicited sources.
Install software from reliable websites: Make sure all documentation and updates originate from reputable, official sources.

Multifactor authentication (MFA) should be enabled.
Secure financial accounts and online banking by using an additional security measure.
Update your antivirus program: Update your antivirus and anti-malware software, and run system scans regularly.
Steer clear of unprotected networks: Avoid using public Wi-Fi networks when making financial transactions.
Make use of a VPN if required.
Keep an eye on banking activity: Review account activity often to identify and quickly report any unauthorized activities.
The Grandoreiro banking malware’s appearance demonstrates the sophistication ofcyber threatss and the necessity of heightened awareness.

However, NITDA encourages all parties involved—individuals and companies alike—to stay vigilant in protecting their digital assets and implementing cybersecurity best practices.

Contact Information for CERRT.NG People and organizations are urged to get in touch with CERRT.NG via the following methods if they have any suspicions of compromise or would need more information:

Phone: +2348178774580; email: cerrt@nitda.gov.ng; website: www.cerrt.ng

SOURCE:https://brandspurng.com/2024/12/11/nitda-warns-against-grandoreiro-banking-malware-for-hacking-accounts-worldwide/

One of Ellah Lakes‘ expansion goals is to rank among Nigeria’s top five producers and processors of oil palm.


With ambitions to breed more than 5000 pigs and produce 500 tonnes of pork annually to service the Southwest and South-South subregions, the company also hopes to turn a profit from its livestock piggery endeavor by the end of the year.

According to the statement available to BrandSpur business and economy news desk, this would be accomplished by partnering with a respectable management firm to supervise the upkeep of the farmland and pig farm in Iguelaba Community, Orhionmwon Local Council, Edo State, making sure that they use their experience to maximise the new opportunity.



In his remarks during the company’s annual general meeting in Lagos, Mr. Joe Attueyi, Chairman of the Board of Directors of Ellah Lakes, revealed that the company is actively working to innovate and diversify its operations. According to him, Nigerian agriculture and agribusiness have been significantly impacted by the current macroenvironment. With a GDP growth rate of only 3.19 percent and an inflation rate of 32.70 percent, we are currently negotiating a minefield.

He went on to say: “The agricultural sector, which is vital for our food security and employment, has been particularly affected, with reduced access to finance and fluctuating commodity prices creating a challenging landscape for businesses like ours. At Ellah Lakes, we believe in turning challenges into opportunities and we are also determined to thrive amidst these challenges.


“In the past year, we have made significant changes, including appointing two new directors, Mr. Emmanuel Jakpa and Mr. Kofo Majekodunmi, which signal our commitment to governance and operational excellence,” he added.

Continuing, he emphasised that the company’s successful completion of its rights issue strengthens its financial base and positions it for future expansion, saying: “We are also changing our year-end date from July 31 to December 31. This adjustment will align our reporting dates with many companies in Nigeria, and I encourage you all to support this resolution, which is on our agenda today.

“As we look ahead, we are committed to innovating our farm structures and scaling our operations to meet the growing demands of the agricultural sector. The path forward may be fraught with challenges, but we believe in the resilience of our company and the potential for growth within Nigeria’s agricultural landscape,” he added.

However, the AGM also saw the re-appointment of board directors and the election of shareholders’ representatives to the statutory audit committee.

SOURCE:https://brandspurng.com/2024/12/11/ellah-lakes-pushes-to-climb-the-ladder-of-nigerias-top-5-producers-palm-oil-processor/

OPay, Nigeria’s leading financial institution has been recognized with the prestigious IFIC Award for Financial Inclusion Innovation by the Central Bank of Nigeria (CBN). This award was presented at the 2024 International Financial Inclusion Conference (IFIC), a flagship event that convened global thought leaders, regulators, and industry stakeholders to strategize on accelerating financial inclusion across Africa and beyond.



The award reinforces OPay’s compliance with regulatory standards and its pivotal role in advancing Nigeria’s financial inclusion goals, aligning with the CBN’s mission to achieve a 95% financial inclusion rate by 2024. Through close collaboration with the CBN and other regulatory bodies, OPay has delivered secure, innovative, and accessible digital financial services to millions of Nigerians, overcoming barriers that have long hindered inclusion efforts.


The award selection process was a comprehensive one which assessed key metrics such as regulatory adherence, technological innovation, customer impact, and contributions to advancing the CBN’s financial inclusion goals. OPay emerged as the winner of the Financial Inclusion Innovation Award, standing out among a competitive pool of financial industry players for its exemplary performance in delivering secure, accessible, and innovative financial solutions.


At the core of OPay’s success is its unwavering commitment to security and regulatory alignment. Its robust platform ensures safe transactions, fostering trust and confidence among users. “This recognition by the CBN highlights OPay’s dedication to providing innovative, compliant, and inclusive financial solutions,” said Dauda Gotring, CEO of OPay.


The 2024 IFIC Conference provided a platform to address pressing issues in Nigeria’s financial inclusion landscape, including expanding access to financial services, enhancing digital literacy, and strengthening collaboration between regulators and private sector players like OPay.

As Nigeria moves closer to its financial inclusion target, OPay remains steadfast in its commitment to leveraging technology within the framework of regulatory compliance. This award not only celebrates OPay’s contributions but also reinforces the significance of public-private partnerships in building a secure, innovative, and inclusive financial ecosystem that drives sustainable economic growth.


SOURCE:https://brandspurng.com/2024/12/10/opay-honored-with-cbn-financial-inclusion-innovation-award/

Ralph Mupita, the group president and CEO of MTN Group, has had his employment term extended until August 31, 2030, the company stated today.


The telecom giant stated that the group board of directors accepted the extension of Mupita’s contract, which was initially scheduled to expire on September 30, 2025, during today’s meeting after an agreement was reached with him.

In response to the announcement available to BrandSpur telecom and information news desk, Mcebisi Jonas, the Group Chairman, said: “The extension of Ralph’s tenure will provide important continuity during a period of significant global and regional uncertainty.



“It will allow MTN to effectively navigate the complex geopolitical dynamics, market volatility, and macroeconomic challenges affecting the business.


“Additionally, it will ensure that the company remains focused on its strategic priorities and continues to deliver on its commitments to shareholders and broader stakeholders,” he added.

Continuing, before joining MTN Group, Mupita spent five years as CEO of Old Mutual Emerging Markets, a company that managed more than R1 trillion in customer assets at the time and offered financial services to people and corporations in 19 countries in Africa, Latin America, and Asia.

Since joining MTN Group in April 2017 as CFO, he has been instrumental in the creation and execution of the organization’s strategy. After Rob Shuter resigned in September 2020, Mupita was elevated from CFO to CEO.

SOURCE:https://brandspurng.com/2024/12/04/mtn-group-renews-contract-with-ceo-to-end-in-2030/

To begin the holiday season, United Bank for Africa hosted its annual Garden Light-Up event on Monday through the UBA Foundation, its Corporate Social Responsibility arm.


The glittering event accessed by BrandSpur banking and finance news, which took place at the United Bank for Africa (UBA) headquarters in Lagos, united employees, clients, and supporters in a touching demonstration of happiness, thankfulness, and solidarity. An annual event, the Garden Light-Up symbolizes UBA and its Foundation’s dedication to promoting the joy and a feeling of community throughout this unique season.

The event sets the tone for the season of giving with its colorful decorations, sparkling lights, pyrotechnics, and upbeat music. It is a beacon of celebration and optimism.



Oliver Alawuba, UBA’s Group Managing Director and Chief Executive Officer, spoke at the occasion and emphasized the bank’s commitment to making memories and its gratitude for the year-round efforts of its employees and clients. The yearly Lighting ceremony, he reaffirmed, is a sign of hope for the upcoming year, the future, and all the positive things that will happen in people’s lives.

According to him: “As we approach Christmas, a time of love, we remember the spirit of giving and community. I would like to express gratitude to every one of you. We are happy and grateful for all your sacrifices and contributions, especially during what has been a difficult year.


“I am particularly grateful to the board of UBA, led by our own Chairman, Tony Elumelu. I would also like to thank the entire executive management team – including Our ED/CEOs from America, and all our management team. We appreciate the work they have done so far.”

Continuing, he clarified that the bank will keep creating a lasting legacy as it commemorates 75 years. He had this to say: “This ceremony is a reflection of our belief in the importance of family, unity, and giving back to the communities we serve. Together, we have achieved remarkable milestones, and we look forward to an even brighter future; I therefore encourage each of you: when you go home, touch your neighbor’s life. By spreading kindness and light.”

The UBA Customer Fulfillment Center choir performed Christmas carols for the well-attended lighting event, which was attended by both UBA employees and customers. Fireworks and a guided tour of the UBA Foundation gardens on the Lagos Marina marked the end of the event.

The UBA Foundation will be providing food to tens of thousands of individuals around Africa over this Christmas season as part of its corporate social responsibility.

The Foundation has been actively involved in fostering sustainable development in its host communities throughout the years. With a focus on development in the fields of education, the environment, economic empowerment, and other special projects, the UBA Foundation, the CSR division of the UBA Group, is dedicated to the socio-economic improvement of the communities where the bank operates.

SOURCE:https://brandspurng.com/2024/12/04/uba-foundation-csr-arm-holds-uba-annual-garden-light-up-in-lagos/

Sharon Ooja is the newest brand ambassador for Goslo Ice Cream, the hub of high-end enjoyment. She, a well-known actress and style icon, epitomizes the Goslo way of living, which emphasizes appreciating life’s most delightful moments.

Ooja, who is well-known for her grace, charisma, and lively disposition, is a wonderful fit for Goslo. This partnership is about more than just ice cream; it’s about giving everyone treasured, joyful, and decadent moments.


Speaking about the collaboration, she expressed her enthusiasm, saying: “Goslo represents everything I value – luxury, quality, and treating yourself to life’s best moments. I’m thrilled to be the face of a brand encouraging people to slow down and enjoy life, one delicious scoop at a time.”

BrandSpur national news brand reports that Goslo, which is well-known for its superior quality and range of flavors (Cookies & Cream, Chocolate Almond, Vanilla & Coconut, Peanut Butter, and Salted Caramel; all available in 320m & 460ml), is setting trends in the indulgence industry. With Ooja as the brand’s spokesperson, Goslo hopes to strengthen its relationship with its audience and encourage them to live up to the motto “Taste Life Slo.”


Keep an eye out for thrilling advertisements, exclusive Goslo merchandise, and a year full of indulgence moments inspired by Sharon Ooja.

SOURCE:https://brandspurng.com/2024/12/03/goslo-ice-cream-endorses-sharon-ooja-as-new-brand-ambassador/

The SEC has cautioned the public from doing business with Marino FX Limited. It has been stated that the company is not registered with the Securities and Exchange Commission (SEC) to operate in any capacity in the Nigerian capital market.


“We hereby notify the public that Marino FX Ltd, who is posing as an SEC-licensed cryptocurrency exchange, is NOT registered or licensed by the SEC to operate in any capacity in the Nigerian capital market, including cryptocurrency exchanges,” the Commission said in a notice released yesterday.

“Any claim to the public by the company of its registration or license by the SEC is false and misleading. The Commission thereby advised the public to exercise caution and refrain from engaging with Marino FX Ltd or any of its representatives”.



The Commission further stated that transacting in the Nigerian capital market with unregistered and unregulated entities exposes investors to financial risks, including fraud and the potential loss of investment and expressed its commitment to protecting investors in the Nigerian Capital Market while working diligently to curb scams and other fraudulent activities.


Last week, a public hearing was held on the proposed Investments and Securities Bill (ISB) 2024 which proposes a penalty of N20 million or 10 years imprisonment or both for Ponzi scheme operators.

The Director-General of SEC, Dr Emomotimi Agama, while speaking at the event, said that the bill also prescribed stringent jail terms and other stiff sanctions for the promoters of Ponzi schemes.

He said that SEC introduced an express prohibition of Ponzi/Pyramid Schemes and other illegal investment schemes to ensure that illegal fund managers were not allowed to fleece unsuspecting Nigerians of their funds.

Agama said the commission had observed areas which required review in the ISB 2007 to strengthen existing provisions, remove ambiguities, introduce new provisions that would enhance the international competitiveness of the Nigerian capital market.

SOURCE:https://brandspurng.com/2024/12/02/sec-advises-investors-against-doing-business-with-marino-fx/

Between June 2023 and June 2024, the British government processed more than N40 billion in visas for Nigerian citizens.


At least 225,000 Nigerian visa applications were handled during the reviewed period, according to Marc Owen, director of visa, status, and information services at UK Visas and Immigration. He gave a speech at the opening of the largest UK visa application center (VAC) in Africa, Lagos, Nigeria.

Continuing, with a statement available to BrandSpur Nigeria news today, the British High Commission, Lagos cited the Director of Visa: “In the year to June 2024, we processed more than 225k UK visas for Nigerian nationals across all categories and this new partnership demonstrates our continued commitment to ensuring our visa services are accessible, efficient and meet the needs of all applicants.”



Adding: “I’m delighted to be here in person as we celebrate this important moment together with our customers and partners.”

The Director of Visa did not disclose the precise number of visa applications, but a study comparing the 225,000 Nigerians listed as the lowest number with the $150 UK six-month regular visitor charge reveals that the UK made almost $34 million from processing. This would equal more than N40 billion if the average exchange rate from June 2023 to June 2024 was N1,200. Even if processing is unsuccessful, the application fee for a visa is not refundable.


Nigeria was one of five nations where study visa refusal rates increased in the second half of 2023, according to statistics released earlier this year by the British government. About one out of every eight applications in Nigeria were denied in Q4 2023, compared to one out of every 31 in Q4 2022. Although at lower accruals, Saudi Arabia, Vietnam, and Indonesia also had significant visa denial rates.

The only nation where fewer applications were received than Nigeria was India. When compared to the final three months of 2022, the data indicated that issuances to Nigerians had decreased by 63%. The rise in denials coincided with stricter UK immigration visa regulations.

Following adjustments to the graduate route post-study work visa, the British government claimed that modifications to dependant visa laws sparked unfavorable feelings in both nations. A large number of Nigerians are now seeking assistance from the United States.

With 20,029 students enrolled in the US during the 2023–2024 academic year, Nigeria was the largest supplier of international students in Africa and the seventh largest source worldwide. Nigeria’s enrollment numbers represented a 13.5 percent increase over the previous year.

SOURCE:https://brandspurng.com/2024/11/29/british-government-clinches-over-n40-billion-for-processing-nigerian-visa-in-a-year/

The quick uptake of digital payments has made fraud prevention a top concern for both customers and providers. At PalmPay’s anti-fraud awareness walk, Chika Nwosu, Managing Director, PalmPay Nigeria, discussed the need to protect financial transactions and stressed the necessity for customers to choose a payment platform wisely.


He further had this to say: “Digital payments are revolutionizing how we handle money which is a good thing. But this convenience must be matched with caution.

“Understanding what to look for in a provider can significantly reduce the risk of fraud,” he added.



Three crucial elements were listed by Nwosu to guarantee payment security. He began by emphasizing how crucial it is to select regulated and licensed companies like PalmPay. He said: “Licensing is the foundation of trust.

“A licensed provider adheres to regulatory standards designed to protect users. Always verify that your payment platform operates under the approval of the appropriate financial authority. At PalmPay, our compliance with the Central Bank of Nigeria (CBN) regulations underscores our commitment to user safety,” Nwosu added.


Second, he emphasized the importance of sophisticated security mechanisms in protecting transactions. He said: “The right technology makes all the difference.

“Look for features like two-factor authentication (2FA), biometric login, and encryption. These tools protect accounts from unauthorized access and ensure that your data remains safe. PalmPay prioritizes these innovations to provide users with the highest level of security,” he added.

Nwosu concluded by stressing the importance of selecting a supplier with a solid track record and strong customer service. He said: “An established provider with a strong reputation is more likely to have the resources to address fraud cases effectively.

“From a dedicated support team to robust fraud monitoring systems, these elements are vital for user confidence. PalmPay’s extensive infrastructure ensures seamless support for our customers at all times,” he added.

BrandSpur banking and finance news desk reports that PalmPay is committed to offering a safe and convenient way to make payments. The Nigeria Deposit Insurance Corporation (NDIC) insures all deposits, and the Central Bank of Nigeria (CBN) has granted the platform a full license. Modern security features like 2FA, biometric authentication, and real-time transaction alerts are embedded into it. It is backed by a committed customer service team that works around the clock to guarantee that user issues are immediately resolved whenever they arise.

The Palmpay MD went on to reveal: “Our mission is to make digital payments safe and accessible for everyone. PalmPay is not just a payment platform; it’s a partner you can trust with your financial security.”

SOURCE:https://brandspurng.com/2024/11/29/palmpay-holds-anti-fraud-awareness-walk-shed-light-on-the-need-to-protect-financial-transactions/

Human Mobile Devices is transforming mobile phone design with its most innovative smartphone to date: HMD Fusion
A personal paparazzi in your pocket, HMD Fusion boasts impressive camera capabilities with an 108MP camera and 50MP selfie cam
Leading the charge in a new era of mobile phone design, Human Mobile Devices is creating human technology designed to be better for people and kinder to the planet

Everyone knows that with the right outfit you can do anything. And the same goes for the latest launch from European mobile innovator- The HMD Fusion.

Wrapped in an uber-cool industrial-chic shell, HMD Fusion is the pinnacle of design brilliance. Ever wished your phone had a built-in ring light for picture perfect selfies or could double as a games console? Well, now it can. With a series of interchangeable outfits2 coming later this year, you can customise HMD Fusion to your personal style or for the functionality you need. Priced at just N375,400, HMD Fusion is the height of tech innovation at an accessible price point.

Whether it’s a super-stylish outfit to match your vibe, an in-built ring light or a gaming controller that allows you to play your favourite games on the go, Fusion Outfits2 coming later this year are the ultimate wardrobe for your device. Attached via six specialised pins, each outfit instantly alters the hardware and software of the phone, unlocking new capabilities, unique interfaces and enhanced performance.


But that’s just the beginning. Believing that collaboration fosters creativity, Human Mobile Devices is putting the power in your hands. Taking phone personalisation to new levels, you can customise your device with almost any accessory with a simple to use, open-source software and hardware developer kit3. Whether it’s for creativity, gaming or productivity, Human Mobile Devices’ latest smartphone evolves with you – the only limit is your imagination.


To get you started, Human Mobile Devices is launching a suite of Fusion Outfits2 later this year designed to elevate your smartphone experience. Built for the selfie queens, the Flashy Outfit will be a content creator’s dream that’s equipped with a built-in ring light for use with both the front and back camera. A game-changer for selfie afficionados, HMD Fusion is the first device that will allow you to control mood lighting and camera effects via on-device controls, thanks to seamless integration with the existing camera app infrastructure. And there’s no bulky case or need for charging as the Flashy Outfit is powered by the device itself via Fusion’s six smart pins.


Butter fingers? The Rugged Outfit will have you covered. Built for added protection, the IP68 outfit is dust-tight and protected against full immersion in water4. Complete with wireless charging support with magnets and an in-case-of-emergency (ICE) button, it’s any adrenaline junkie’s best friend. And the Wireless Outfit brings tech that’s usually reserved for a higher price within reach.

Outfits aside, with its slim, strong, stainless steel reinforced plastic casing HMD Fusion is an enviable fashion statement in itself. Tapping into the raw, grunge aesthetic beloved by Gen Z, it’s giving no-frills industrial chic. The device comes with a clear Casual Outfit that showcases its groundbreaking design so you can go au-naturel when you don’t need any extra functionalities. Bringing the extra protection of a case without the clunky outline, the clear Casual Outfit is in the box with HMD Fusion, with a range of coloured Casual Outfits to choose from for just N 375,400.

But it’s more than just a pretty face. HMD Fusion comes equipped with a top of the range camera system. Both front and rear cameras are packed with features, helping you capture core memories like a pro. The 50MP selfie camera opens up new possibilities with Selfie Gestures and Selfie Slow-Mo, whilst a 108MP dual rear camera is ready for low light, high speeds and most things in between. It’s a personal paparazzi in your pocket.

And like the other smartphones in Human Mobile Devices’ original portfolio, HMD Pulse Family and HMD Skyline, HMD Fusion is designed with FIY front of mind. The device is equipped with Gen 2 repairability, making it easier than ever to repair a smashed screen, depleted battery or other part.

As the digital detox movement continues to gain pace, Human Mobile Devices is on a mission to provide people with a choice when it comes to their smartphone use. Embodying the HMD’s commitment to a balanced digital experience, HMD Fusion will become equipped with a powerful in-built Detox Mode, which is now available for purchase on shelves and online.

Want a break from social media or some down time from always-on notifications? With bespoke app and contact blocking, Detox Mode allows you to tailor your digital detox to your needs, giving you more time to live in the moment without distraction.

Commenting on the launch of HMD Fusion, Lars Silberbauer, Global Chief Marketing Officer at Human Mobile Devices (HMD), said; “In this day and age, a smartphone is more than just a device for connectivity. It’s a fashion statement, a means to express ourselves and a tool for navigating the modern world. HMD Fusion is the next generation of smartphone – for the first time, we’re inviting people to embrace their creativity and build a device that’s totally tailored to them with our industry-first Smart Outfits. Fusion represents everything we stand for at Human Mobile Devices: creativity, innovation and collaboration, and we’re so excited to see what people create.”

Transforming mobile phone design, HMD Fusion reflects Human Mobile Devices’ commitment to creating technology that is shaped to consumer and business needs. The device is a leap forward in tech innovation, and the latest in Human Mobile Devices’ line of design-led, human-first, original smartphones.

SOURCE:https://brandspurng.com/2024/11/28/hmd-fusion-debuts-with-innovative-smartphone-features/

Low credit ratings for African countries are leading to high borrowing costs and liquidity challenges. This is according to panellists at a plenary session on harnessing sovereign credit ratings power for Africa’s economic transformation, organised by the Economic Commission for Africa at the 2024 African Economic Conference (AEC) in Gaborone, Botswana.

Zuzana Schwidrowski, Director of the ECA’s Macroeconomic, Finance and Governance Division at the ECA said low credit ratings contribute to high borrowing costs and more broadly to a vicious spiral of liquidity challenges as well as debt accumulation for African countries. Despite the overall challenges in credit ratings, she emphasized some positive developments and turnarounds in selected credit ratingtrajectories of African sovereigns, such as Moody’s upgrade of Tanzania or S&Ps positive outlook on South Africa. However, the overall double-digit inflation prevents African Central Banks to reduce policy rates, which is another factor behind high borrowing costs and overall subdued growth, especially among resource (and fuel)-intensive exporters.


In her presentation on credit ratings in Africa, Sonia Essobmadje, Chief of ECA’s Innovative Finance and Capital Markets Section, said, “Improving Africa’s fundamentals and implementing a structural reform program would certainly over time contribute to better ratings, but more importantly to sustainable, inclusive growth and the well-being of the population. The development of African national and regional financial markets should be a priority, as this would reduce excessive dependence on external debt and improve the transmission of monetary policy.”

Misheck Mutize, Lead Expect on Credit Ratings, African Union cautioned that excessive reliance on credit ratings can amplify market instability and lead to pro-cyclicality. Interestingly, it is a rule under the EU Regulation 1060 of 2009, adopted following the crisis, that sovereign credit ratings should only be published on a Friday after close of business to avoid market disruptions and overreactions as well as reduce asymmetric information, as different markets are open at different times. This practice gives the investors a chance to digest the information and undertake their own analysis over the weekend.”

For his part, Marcus Courage, CEO of Africa Practice, said recent analysis and data collected by Africa Practice and Africa No Filter indicates that stereotypical media narratives about Africa are costing African nations $4.2 billion a year in inflated interest on sovereign debt due to poor international media coverage, often underpinned by conflict and war.

Daniel Cash, a non-resident Fellow at UNU-CPR, said, “To overcome the current ‘credit rating impasse’, large-scale architectural reform is needed. African countries need support and investment from partners to inject knowledge, skills, and nuance into their capacity to navigate the credit rating process.

“Now is the time for partners to come together and offer a unified service to African Countries, and the rest of the Global South, so that the new environment that surrounds them need not be so punitive and regressive,” he added.

SOURCE:https://brandspurng.com/2024/11/27/low-credit-ratings-for-african-countries-see-high-borrowing-costs-and-liquidity-challenges/

Inspired by the question, “What makes a bicycle a bicycle?” Stephan Henrich is developing a universal, all-wheeled alternative bicycle design at his design and research firm, Stephan Henrich Robotic Design and Architecture, located in Stuttgart, Germany.

He is interested in building, robotics, and design. He has dubbed this innovative invention the “Infinity Bicycle.” Following its social media debut, the Infinity bicycle is frequently compared to a bike or a bicycle due to the handlebar’s similar-looking wheels, which raises a significant query.


The wheels are constructed to resemble a caterpillar more than anything else. A caterpillar element, a construction element that fluidly alters the function, is present in this supposed wheel. In the central section, which is oriented toward the chain wheel, it takes on the appearance of a toothed bar propulsion element, while in the rear sections, something resembling a rim forms automatically and momentarily. That’s the idea.


According to him, it’s worthwhile to challenge the idea of two wheels if you want to attempt creating anything akin to a bicycle, and I thought: “Go two-three steps backward from that and reimagine how something could look that propels both wheels.”

We have a handlebar, saddle, pedals, and other components because it’s a bicycle with a frame and a fork-like component. However, except for that, it’s entirely different.

He went on to reveal the advantage:

With both wheels propulsed, it has much more traction.

He has this to say about the source of his inspiration. He said sources of inspiration for the design originated from his extensive BMX riding. Considering all the tricks the bike might perform, particularly pedaling nose wheelies, which are impossible for any bike in the world.

On social media, people are inquiring: “Will it be available for purchase one day?”

“How much would be the price?”

He stated: “The prices aren’t set yet, the release date isn’t set yet,” because I’m in the process of prototyping and solving problem by problem because when you rethink the concept from the beginning, you have to solve problems that appear.

Continuing, he added: “But, I’m confident that one day, hopefully sooner than later, I’ll have a rideable device.”

SOURCE:https://brandspurng.com/2024/11/27/german-designer-set-to-reverse-cycling-idea-with-infinity-bicycle-debut/

With an innovative new marketing strategy, Pepsi, the second most valuable soft drink brand worldwide, manufactured by PepsiCo, has relaunched its 60cl LongThroat Bottle into the Nigerian market.


By using the popular song “Big Big Things” by Afrobeat artist, Young Jonn to create a Pepsi remix as the official theme music for this campaign, the company used pop culture to reveal its message of “Big Big Tinz” (Big Refreshment. Big Value). The brand took this calculated action to solidify its messaging and strengthen its relationship with customers.

As part of this innovative campaign, the Afrobeat artist remixed this worldwide popular song for Pepsi, incorporating the brand uniquely and smoothly while preserving the original’s rhythmic sense. The Pepsi 60cl Longthroat bottle, which was first released in 2015, is now available again in Lagos, Ibadan, and Ilorin, providing customers with large refreshments, big value, and big flex.



Sam Okolie, the Senior Brand Manager at Seven-Up Bottling Company, spoke on the new theme song’s release and said that “Big Big Tinz” is a great fit for the brand’s young appeal and the return of Pepsi’s 60-cl product value.

He had this to say: “As a brand, we will continue to be at the forefront of driving contemporary pop culture, engaging the right partners and platforms to seed our message, drive connection, and dial-up affinity for the brand. Crafting such a compelling message, ‘Big Big Tinz,’ to communicate the relaunch of our 60cl Longthroat bottle was a natural fit. Nigerians have a unique style of expressing their bold cravings, big desires, and dreams. Tapping into the global hit song and popular street anthem allows us to entrench our message and the essence of the campaign – delivering big refreshments and Big Value.

“Also, Pepsi is deeply rooted in Nigerian pop culture, and this theme song strengthens the brand’s connection with the consumers as they chase their big ambitions,” he added.

Continuing, according to the Senior Brand Manager, Pepsi is launching an innovative experiential campaign that will provide consumers with memorable and distinctive brand interactions in shopping centers and other brand contact locations.

Launched on Saturday, November 16, the remix track and video may now be downloaded and streamed on YouTube and all other music outlets, BrandSpur news brand reports.

SOURCE:https://brandspurng.com/2024/11/25/pepsi-storms-lagos-ibadan-ilorin-market-with-its-60cl-longthroat-bottle-relaunch/

As a testament to its market dominance, Moniepoint, Africa’s fastest-growing financial institution, was named the 2nd International Financial Inclusion Conference’s (IFIC) Financially Inclusive Fintech of the Year.


Deputy Governor, Financial System Stability, Central Bank of Nigeria, Philip Ikeazor, Director-General, National Pension Commission (PenCom), Omolola Oloworaran, Country Manager and Area Business Head for West Africa, Mastercard, Folasade Femi-Lawal, and Chairman of the Committee of e-Business Industry Heads (CeBIH), Ajibade Laolu-Adewale, were among the important figures in the financial services sector who attended this esteemed event hosted by the Central Bank of Nigeria (CBN).

This year’s conference, with the theme “Inclusive Growth: Harnessing Inclusion for Economic Development,” brought together leaders of the industry, policymakers, and experts from around the world to discuss ways to promote financial access and economic development.



Along with its innovative products and solutions that bridge gaps and offer a safe, quick, and transparent means to access digital financial services, Moniepoint was recognised for its outstanding contributions and nationwide impact in advancing financial inclusion across underprivileged groups. Along with this honour, Moniepoint hasseveraler of other industry awards in recent weeks, solidifying its standing as a pioneer in promoting economic empowerment and financial inclusion in Nigeria.


Tosin Eniolorunda, CEO of Moniepoint Inc., commented on the honours and victories, saying: “These recognitions underscore our commitment to engineering financial happiness via solutions that empower individuals, small businesses and communities at large. At Moniepoint, we believe that financial inclusion is not just a goal but a necessary foundation for sustainable economic growth and development. We are honored to contribute and support the Federal Government’s aspirations and agenda to become a trillion dollar economy by 2030 and we remain dedicated to making a meaningful impact.


“The laurels and accolades are a strong validation of the hard work and dedication that our DreamMakers put into powering the dreams of millions of Nigerians, and it will continue to fuel our passion for driving excellence in Nigeria’s financial services sector. It’s just Day One for us and we will continue to develop solutions that make financial services more accessible to all,” Eniolorunda added.

In the seventh edition of CB Insights’ annual Fintech 100, which ranks the 100 most promising private fintech businesses globally and characterises them as high-momentum firms influencing the future of financial services, Moniepoint Inc. achieved an unusual hat-trick by being ranked for the third consecutive year.

BrandSpur banking and finance news reports that in the 12th year of the prestigious BusinessDay Banks & Other Financial Institutions BAFI Awards 2024, which honours innovation and excellence in the financial services industry and recognises the organisations that have raised the bar for leadership, performance, and customer service, Moniepoint Microfinance Bank took home the title of “SME Microfinance Bank of the Year,” while Tosin Eniolorunda was named the Fintech CEO of the Year.

In addition to winning the award for Overall Best OFI in Digital Banking Solution Delivery (Vision Category) at the NEXUS 2024 Gala and Awards Night hosted by Qore, a leading fintech infrastructure and Banking-as-a-Service platform provider, Moniepoint was recognised for Best Digital and Best Website in the Microfinance Bank sector at the Phillips Consulting (pcl.) Digital Jurist Awards 2024, which honours the outstanding accomplishments of organisations that have exemplified innovation and excellence in leading digital transformation across various sectors in Nigeria.

Since 2019, 10 million businesses and individuals in Africa have benefited from Moniepoint Inc.’s comprehensive financial ecosystem, which includes banking, credit, business management tools, and easy payments. It powers the majoritpoint-of-sale Sale (POS) transactions in Nigeria and is the biggest merchant acquirer in the nation.

However, Moniepoint Inc. operates profitably and processes $17 billion for its clients each month through its subsidiaries.


SOURCE:https://brandspurng.com/2024/11/22/moniepoint-secures-2nd-financially-inclusive-fintech-of-the-year-at-ific/

FOUNTAIN VALLEY, Calif., November, 2024 – Hyundai has been awarded the 2025 Best SUV Brand by U.S. News & World Report. The award recognizes industry-wide excellence of the automotive market and reflects the best combination of safety, reliability, space, convenience, and connectivity. The publication’s editors evaluated 38 automotive brands and concluded that Hyundai SUVs stood out, not only due to the exceptional quality of its Palisade, Tucson and Tucson HEV models, but also on the strength of its vast SUV lineup including Santa Fe, Kona, Kona Electric, and IONIQ 5 EV. Earlier this year, U.S. News & World Report named the 2024 Hyundai Tucson its Best Compact SUV for the third consecutive year and the 2024 Hyundai IONIQ 5 was selected as the Best Electric Vehicle for Families.


“As the popularity for SUVs continues to grow, so does the competition for market share,” said Olabisi Boyle, senior vice president, product planning and mobility strategy, Hyundai Motor North America. “Amidst such a challenging landscape, we are truly honored to receive such a strong accolade by U.S. News & World Report. Our SUV lineup offers the styling, space, quality and technology customers are seeking. This success is also evidenced by our SUV sales increases. Last month, Tucson HEV enjoyed its best-ever sales month in total and retail sales. We look forward to expanding our lead as the Best SUV Brand as we launch our newest all-electric SUV at the Los Angeles AutoMobility show.”

“A key consideration for consumers during the car-buying process is the strength of an automaker’s brand – and how it’s reflected on the quality of the cars in its lineup,” said John M. Vincent, senior automotive correspondent at U.S. News & World Report. “With high-quality products in nearly every SUV segment and fantastic warranty coverage, Hyundai is a brand that every shopper should consider when they’re in the market for a new vehicle.”

In their evaluations, the U.S. News & World Report editorial team looked at each company’s product offerings, evaluating elements like safety data, predicted reliability ratings, passenger and cargo space and the consensus opinion of the automotive press. To determine the award winners, U.S. News Best Cars averaged the overall score of all the given brand’s products in each award class. The brand with the highest average score was designated the winner in that specific category.
U.S. News Best Cars

Since 2007, U.S. News Best Cars, the automotive channel of U.S. News & World Report, has published rankings of the majority of new vehicles sold in America. Each year, U.S. News also publishes the Best Cars awards, including Best Vehicle Brands, Best Cars for the Money and Best Cars for Families. U.S. News Best Cars supports car shoppers throughout the entire car-buying journey, offering advice for researching cars, finding cars for sale near you and getting the best rate on car insurance. U.S. News Best Cars had more than 73 million visitors over the past year, with the majority actively shopping for a car. Eighty percent of active shoppers reported that the U.S. News Best Cars site influenced their car purchasing decision.

Hyundai Motor America

Hyundai Motor America offers U.S. consumers a technology-rich lineup of cars, SUVs, and electrified vehicles, while supporting Hyundai Motor Company’s Progress for Humanity vision. Hyundai has significant operations in the U.S., including its North American headquarters in California, the Hyundai Motor Manufacturing Alabama assembly plant, the all-new Hyundai Motor Group Metaplant America, and several cutting-edge R& facilities. These operations, combined with those of Hyundai’s 835 independent dealers, contribute $20.1 billion annually and 190,000 jobs to the U.S. economy, according to a recent economic impact report.


SOURCE:https://brandspurng.com/2024/11/22/hyundai-named-2025-best-suv-brand-by-u-s-news-world-report/

SeerBit, Africa’s most trusted payment solutions provider, has reaffirmed its pivotal role in shaping the future of the technology industry by impacting one billion lives at DevFest Lagos 2024 hosted on 15th and 16th November 2024 at Landmark Centre, Victoria Island, Lagos.

An annual conference organised by the Google Developer Groups Lagos (GDG Lagos), the highly interactive two-day event brought together developers, tech leaders, enthusiasts and innovators from all over Africa and beyond. Through various workshops, focal sessions, and product showcases, attendees explored the latest advancements and conversations shaping the tech landscape.



As Gold Sponsor of the event, SeerBit reaffirmed its dedication to advancing Africa’s developer ecosystem through the brand’s strategic thought leadership, innovative solutions and Pan African capacity-building initiatives.

On respective days of the event, Olaolu Akintoye, Engineering Manager and Babajide Shoyebo, Senior Product Manager, both from SeerBit, took centre stage as they shared relevant knowledge on key topics shaping the evolving role of technology in driving business and economic growth. Akintoye, who spoke on the topic – Building Resilient Systems: Flexibility and Adaptability – took attendees through a revealing session into resilience and chaos engineering, as well as the importance of building systems that can adapt and remain stable in the face of disruptive events and actions. On his part, Shoyebo contributed invaluable nuggets as a panellist in a session that focused on the essence of balancing innovation, agility and compliance in building sustainable businesses. Drawing relevant instances from SeerBit’s operational standards, Shoyebo demonstrated the need to ensure a healthy mix to future-proof businesses.


Equally important, both resource persons shared insights into how SeerBit is utilising cutting-edge technology to simplify payments, while seamlessly addressing payment fragmentation and availability gaps for businesses and their customers across Africa.

“For SeerBit, sponsorship is more than financial support. It’s about accelerating progress in the tech space,’’ disclosed Omoniyi Kolade, Founder and CEO of SeerBit. ‘‘Technology has demonstrated its incredible power to transform lives and developers are the visionaries driving that transformation. DevFest Lagos 2024 provided the perfect platform for us to engage, inspire and empower developers with the tools and support they need to drive this change. Our goal of impacting one billion lives reflects our long-term commitment to contributing significantly to growth and development within and beyond the tech industry,” he added.

Highlights of SeerBit’s participation at the event include connecting with members of the SeerBit Developer Community who showed up at DevFest Lagos 2024, introducing over 3,000 developers to the concept of resilience engineering, while also reinforcing the importance of compliance, agility and innovation for forward-thinking businesses, particularly in view of the huge expenses and challenges tied to evolving financial crime compliance requirements. A recent study reveals that the global cost of compliance for financial institutions grosses more than $206bn.

Also catching the attention was the company’s booth which remained a major attraction point for thousands of attendees, sparking meaningful discussions about integrating SeerBit’s tools into their projects and fostering further growth and impact through the SeerBit community. Crucially, the SeerBit community – SeerBit Developer Community – presents a unique opportunity for attendees to benefit from networking, career growth and hiring opportunities.

The excitement among developers was palpable, with many expressing keen interest in leveraging SeerBit’s products. Afolake Ojo Makinde, a software engineer based in Abuja, attended DevFest Lagos for the first time. She shared her enthusiasm. “The SeerBit team was incredibly approachable and insightful. Their payment tools are intuitive and I can’t wait to integrate their APIs into my app. It’s inspiring to see a company so invested in helping developers succeed.”

“DevFest Lagos 2024 was an extraordinary celebration of innovation, collaboration and community. With over 3,400 attendees across two action-packed days, we brought developers together to learn, share and grow through technical talks and workshops, led by solid people from within and outside the continent. This also created networking opportunities for the community. We’re grateful for the invaluable support of our partners like SeerBit who played a key role in making this event a success and empowering the tech ecosystem in this region and beyond.”

SeerBit’s partnership with the GDG Lagos, organisers of DevFest Lagos 2024, spans several years, aligning with the brand’s mission to positively impact one billion lives through accessible, inclusive and economically empowering digital payment solutions. The partnership has seen SeerBit supporting various developer-led events hosted by GDG across the country such as Ilorin, Lagos, and Jos, as the brand continues to lead in empowering developers with the tools and resources that they need to create innovative solutions to equip businesses for economic growth.

As part of this project, SeerBit announced further plans to launch several developer-focused initiatives in 2025, including hackathons to challenge and inspire the creation of groundbreaking solutions, capacity-building programmes to train developers, product managers and other tech enthusiasts, as well as seed funding opportunities for standout developer-led projects.

SeerBit is a Pan-African payment solutions provider that makes it easier for businesses and financial service providers to make and accept payments from their customers across Africa. Users have the advantage of enjoying flexible features to fit any business with a single integration. SeerBit is building a unified payment ecosystem that removes the complexity and fragmentation of the digital payment process in Africa, enabling businesses to seamlessly accept multiple payment methods and streamline online and offline transactions.


SOURCE: https://brandspurng.com/2024/11/21/seerbit-takes-goal-to-impact-one-billion-lives-to-devfest-lagos-2024/

To increase shareholder value, Samsung Electronics announced today that it intends to repurchase KRW 10 trillion worth of company stock. Today, the Board of Directors of the Company approved the share repurchase program, which will be implemented in stages over the course of the upcoming year.


All shares will be cancelled and KRW 3 trillion worth of stock will be repurchased over the course of the following three months. Between November 18 and February 17, 2025, 50.14 million common shares and 6.91 million preference shares will be repurchased.

The Board will determine how to increase shareholder value, including when and how to use the treasury shares, and will authorize the remaining KRW 7 trillion in the repurchase program.


Samsung will keep improving long-term value creation and is dedicated to providing sustainable shareholder value, BrandSpur news brand reports.

SOURCE:https://brandspurng.com/2024/11/19/samsung-discloses-plan-to-repurchase-krw-10-trillion-worth-of-company-stock/

NAIROBI, Kenya, November, 2024/ — Nigeria’s Feed and Fodder Multi-Stakeholder Platform achieved a remarkable success under the RAFFS Project by securing over USD 100 million in investor commitments during the Agri Summit Africa (ASA) Deal Room, which was sponsored by the Commodity Development Initiative (CDI) in partnership with Sterling Bank.

The Feed and Fodder Deal Room, which was conducted in Abuja in November, was the first of its kind. The Deal Room was designed to encourage investment in Nigeria’s feed and fodder sector by convening key stakeholders, including financial institutions, equipment suppliers, investors, and government agencies.

This collaborative endeavor is a significant advancement in the commercialisation of feed and forage production, and it is consistent with recent government initiatives, including the establishment of the Ministry of Livestock Development and the endorsement of the National Dairy Policy. In order to guarantee the fulfilment of these multimillion-dollar commitments and to position the sector for sustainable growth and innovation, CDI will persist in providing support for post-event activities.

SOURCE:https://brandspurng.com/2024/11/17/nigerias-feed-and-fodder-platform-attracts-100-million-in-deals-strengthening-sector-commercialization/

The executive branch of Peru, which had set a target of 86% regional advancement in mobile internet coverage by October of this year, has reached 100% before the end of 2024.


The president of the Republic of Peru, Dina Ercilia Boluarte Zegarra, stated in her July 28 Message to the Nation that 4G mobile services would be available in several remote villages.

According to her claims: “By October of this year, 3,282 rural locations will have 4G mobile services, reaching an advance of 86%. The remaining 14%, 543 locations, will receive 4G services in 2025.”



The president noted that rather than collecting fees, a pledge to base coverage was made in the 2023 4G tender. With an expenditure of over 600 million dollars in 2024 and 2025, 3,825 locations with 4G services were made available as a consequence of the auction competition.


Continuing, she has this to say: “Concession renewals and spectrum allocation processes aim to connect more Peruvians, prioritizing technical criteria to adequately value the resource.”

She also emphasized that up to 60% of the money paid for spectrum use can be diverted by operators to infrastructure projects in places without 4G connectivity thanks to the Coverage Fee system.

She revealed: “Currently, 665 rural localities have mobile services through this mechanism, benefiting 140,000 inhabitants. This year, we have chosen 425 additional rural localities in 22 regions, which will benefit 68,000 inhabitants.”

President Boluarte promised that the transportation network in 18 regions will be finished by the end of this year as part of the contract requirements for regional telecommunications projects. With this, 180 province capitals and 1,481 districts around the country will be connected by a network of more than 40,000 kilometers of fiber optics, including the National Backbone Fiber Optic Network.

In the first half of 2025, this will enable internet connectivity to be made available to 699 public health centers and 1,328 public schools in rural areas or areas of preferential social interest through dedicated fiber optics to the establishment. This will enable them to benefit from the advantages that internet access offers to our schools and health centers, such as increased productivity at work and more opportunities for adults, seniors, and young people.

She added that to be able to provide internet connectivity through dedicated fiber optics to over 4,680 public schools and 476 public health centers in rural areas and of preferential social interest in 2026 and 2027, investment projects are being developed and their financing is being managed in collaboration with the World Bank (WB) and the Inter-American Development Bank (IDB).

She added: “In our government, we are laying the foundations for the digital development of people and entrepreneurs, not only in large cities but especially in rural and remote areas of our country. This will allow us true digital inclusion and address the development future of our country with greater digital connectivity.”

SOURCE:https://brandspurng.com/2024/11/15/peru-meets-100-of-regional-advancement-in-mobile-internet-coverage-in-2024/

Mark Gurman of Bloomberg claims that Apple is getting ready to unveil a new smart home hub. The iPhone manufacturer may unveil a tablet that mounts to your wall, manages smart home appliances, makes video calls, and, of course, has Apple Intelligence as early as March 2025.


According to reports reaching BrandSpur news brand, the gadget has a 6-inch touchscreen, but it is anticipated that similar to a HomePod, it will be controlled by voice using Siri, Apple Intelligence, or an upcoming system called “App Intents,” which enables AI to control apps. It will have standard Apple apps like Safari, Apple Music, Notes, and Calendar, but it is said to run on a new operating system with sensors to determine a person’s proximity.

Expect Apple’s “command center for the home” to cost between $100 and $250, as it appears to be positioned as a competitor to Google’s Nest Hub and Amazon’s Echo Hub. But Apple is also developing an iPad with a robotic arm that follows you around the room; this device could cost more than $1000.

SOURCE:https://brandspurng.com/2024/11/13/apple-sets-to-unveil-new-smart-home-hub-in-2025/

Unsold commodities in the manufacturing sector increased to N1.24 trillion in the first half (H1) of 2024, according to the Manufacturers Association of Nigeria (MAN).


Francis Meshioye, the President of MAN, stated in the association’s first-half economic report available to BrandSpur business and economy news, that the number of unsold products increased by 357.57 percent on an annual basis.

Meshioye ascribed the notable increase in unsold inventories to a decline in consumer purchasing power brought on by the naira’s devaluation, rising inflation, and the elimination of subsidies. He claimed that the large amount of unsold inventory underscores the difficulties that customers are encountering and emphasizes the necessity of taking action to increase demand and improve the sector’s performance.



Continuing, he had this to say: “The inventory of unsold finished products in the manufacturing sector surged by 357.57 percent year-on-year, reaching N1.24 trillion in H1 2024.”

According to him, the manufacturing sector’s capacity utilization fell little year over year, from 56.5 percent in H1 2023 to 56.4 percent in H1 2024. On the other hand, he recorded a 2.8 percent gain over H2 2023, suggesting some recovery, saying: “Real manufacturing output in Nigeria declined by 1.66 percent year-on-year in H1 2024, falling to N1.34 trillion from N1.36 trillion in H1 2023. Despite this decline, the sector saw a 9.97 percent increase compared to H2 2023, driven by a baseline effect. In nominal terms, the manufacturing sector’s output in Nigeria increased by 30.38 percent year-on-year, reaching N5.34 trillion in H1 2024.


“This growth was primarily driven by the sharp rise in domestic prices, as reflected in the Consumer Price Index, which surged to 34.19 percent in June 2024,” MAN’s President added.

Local raw material sourcing in the manufacturing sector increased marginally to 56.03 percent in H1 2024 from 55.4 percent in H1 of the previous year, according to the President

He went on to say that the slight increase is indicative of a slow shift towards domestic sourcing, which is being fueled by difficulties obtaining foreign exchange. The challenges of shifting away from imported raw materials are reflected in the losses in local sourcing in some industries, such as non-metallic mineral goods and textiles, clothing, and footwear.

Furthering, he added that investments in the industrial sector grew steadily, rising 29.63 percent year over year to N250.13 billion in H1 2024. He claimed that the depreciation of the naira, which increased the price of importing machinery and other essential assets, was the primary cause of the increase.

He stated: “In real terms, investment spending did not increase, as manufacturers focused on maintaining current production levels rather than expansion due to the challenging economic environment. Also, electricity supply to industries showed some improvement in H1 2024, with average daily supply hours increasing to 11.28 hours per day.

“However, the cost of providing alternative power continued to rise, with manufacturers spending N238.31 billion on alternative energy sources in H1 2024, a 7.69 percent increase from H2 2023.

“The surge in costs was driven by higher prices for diesel, gas, and other energy sources, as well as the need for manufacturers to invest in self-energy generation due to unreliable power supply from the national grid,” he added

MAN’s President spoke further that the H1 2024 report on the manufacturing sector emphasizes the pressing necessity for the adoption of significant and well-thought-out economic changes. He stated that the goal of the reforms is to address the issues that manufacturers face.

Meshioye claims that the time under review was characterized by serious difficulties for Nigeria’s manufacturing industry, including rising inflation, decreased consumer demand, and high operating expenses. He claimed that while certain industries showed development and resilience, others struggled with falling production values, rising inventories, and decreased employment.

According to him, the report’s primary focus was on manufacturing metrics such as capacity utilization, production value, inventory levels, domestic raw material usage, investments, and spending on alternative energy sources. He determined that improving the business climate, encouraging economic diversification, and fortifying policy coherence were the main areas of concentration.

He went on to say: “The success of these reforms will be crucial in reversing the current economic downturn, creating jobs, reducing inflation, and improving the overall welfare of Nigerian citizens.

“As the country navigates through these turbulent times, the resilience of its policy framework and the effectiveness of its economic management will determine the path forward,” he added.

According to Meshioye, the world economy held up well throughout that time, with major economies avoiding a sharp decline and lowering inflation without raising unemployment.

However, Meshioye stated that growth was still hampered by the residual effects of high interest rates, difficulties with debt sustainability, ongoing geopolitical conflicts, and escalating climate concerns. He cautioned that the elements endangered decades of progress, especially for small island governments and developing nations.

Additionally, MAN’s President stated that political instability, high inflation, growing borrowing costs, and continuous exchange rate pressures had made the economic prospects for many African countries worse. He went on to say that Nigeria’s economy continues to face major obstacles that have hampered its capacity for expansion and threatened its stability. He claimed that despite measures to stabilize the economy, such as the Central Bank of Nigeria’s (CBN) strong monetary tightening, the intended outcomes in terms of reducing inflation and fostering growth were still elusive.

SOURCE:https://brandspurng.com/2024/11/12/mans-president-reveals-nigerias-unsold-commodity-witness-n1-24-trillion-in-h1-2024-records-2-8-gain-over-h2-2023/

Amo Farm Sieberer Hatchery Limited’s subsidiary, natnudO Foods, a leading producer of high-quality animal protein, has officially commissioned its new processing plant in Benin City, Edo State. Located in the Obayanto community, Ikpoba Okha Local Government Area, the commissioning ceremony, held on Wednesday, November 6, 2024, marks a significant milestone for the company as it expands its operations in Nigeria, contributing to the nation’s food security and the accessibility of high-quality animal protein.


The Benin City facility, one of several strategically located processing plants across Nigeria, will support natnudO’s mission of making affordable animal protein available to every Nigerian. The company already operates plants in Akinyele, Ibadan (Oyo State), Uyo (Akwa Ibom State), and Kaduna State, and the opening of this new plant underscores its commitment to providing sustainable food solutions while driving economic development in the region.

With support from Heifer International Nigeria, natnudO Foods launched the natnuPreneur Scheme, a transformative initiative aimed at empowering farmers and entrepreneurs in Edo State. This initiative is designed to provide farmers and entrepreneurs, especially women, with the knowledge, resources, and support they need to engage in poultry farming and the sale of animal protein products. The scheme consists of two key models: natnuPreneur Farmer and natnuPreneur Seller.

The natnuPreneur Farmer entrepreneurial initiative allows farmers to raise broiler and Noiler chickens under an out-grower model, which will then be bought back and processed at natnudO’s facilities. Similar to the way the program has delivered in other states, it aims to enable farmers with the knowledge, resources, and support necessary to succeed in the poultry business, creating wealth and employment opportunities in the local community across Edo State and beyond.


Also, the natnuPreneur Seller model is designed to enable individuals and businesses to establish themselves in the animal protein business. This model will operate through a Hub and Spoke system, where each Hub will be equipped with solar-powered freezers to store and distribute products to four attached Spokes, which will be provided with push carts and parasols for daily sales. This model is expected to empower small businesses, improve local distribution, and increase access to affordable protein in Edo State.


Both the Hubs and Spokes systems, including the solar-powered freezers and push carts, were officially commissioned during the event.

Speaking at the event, Dr. Ayoola Oduntan, Group Managing Director of Amo Farm Sieberer Hatchery Ltd., expressed the company’s excitement about the new plant’s potential to drive both economic and social growth in Edo State. “We are excited to expand our operations into Edo State, a state with tremendous agricultural potential,” he said.

“We believe in the power of partnership and community. Our mission is to ensure that protein is accessible to every Nigerian, and by launching the natnuPreneur scheme, we are not only increasing local production but also creating new opportunities for farmers and entrepreneurs across the state.” He continued.

Hon. Chris Nehikhare, Commissioner for Communications and Orientation, who represented the Governor of Edo State, Godwin Obaseki, commended the initiative for its potential to improve food security, generate employment, and contribute to the state’s economic development.

Mr. Stephen Idehenre, Commissioner for Agriculture and Food Security, also attended the event and praised natnudO Foods for its innovative approach to addressing protein scarcity and promoting entrepreneurship.

natnudO Foods is committed to providing Nigerians with high-quality, affordable animal protein. Through its network of strategically located processing plants, natnudO aims to contribute to the country’s food security while supporting sustainable agricultural practices and economic development.

SOURCE:https://brandspurng.com/2024/11/12/natnudo-foods-commissions-benin-city-processing-plant-launches-natnupreneur-scheme-to-empower-farmers-and-entrepreneurs-in-edo-state/

More companies are proactively searching for methods to have a significant impact on various communities at a time when customers are focused on brands and businesses that take social responsibility seriously.


By providing and assisting communities through infrastructure development, financial aid, investing in local talent, skill development, collaboration with local leaders, addressing food insecurity, improving quality of life, disaster relief, and other means, creative and progressive companies are bridging the gaps. In Nigeria, Nestle, a prominent Fast-Moving Consumer Goods (FMCG) corporation, continues to be at the forefront of corporate social responsibility (CSR). The company has shown for decades that it is dedicated to supporting the communities in which it works.

Nestle Nigeria has made a positive impact on thousands of lives through a variety of projects and programs that support sustainable development and enhance the standard of living for people and families in areas such as infrastructure development, women’s empowerment, education, health, and environmental sustainability. A portion of its early intervention The goal of CSR initiatives is to address urgent social and environmental challenges in rural communities while generating shared benefits.

Nestle’s History of Community Project Passion


Henri Nestle, the company’s Founder, was a strong advocate for community development, so Nestle knows the value of giving back to the community since it’s in its DNA.


Nestle is committed to carrying on the founder’s legacy through Nestlé Cares for Communities, which enhances the influence of our partners’ efforts in the communities that shaped who we are today. Two-thirds of Nestlé’s 2023 gifts, totaling CHF 177.4 million, were product donations, primarily to foodbanks or disaster relief organizations.

Nestlé Nigeria Corporate Communications, Public Affairs, and Sustainability Lead Victoria Uwadoka said in a statement available to BrandSpur national news brand that the company is dedicated to fostering common values and the welfare of Nigerian communities.

Furthering, she had this to say: “At a time when economic challenges place added strain on families nationwide, we’re proud to provide meaningful financial support that eases this burden. By investing in education, we’re not only empowering individual students but also fostering the growth and prosperity of our entire community.”

Some of its significant CSR include:

Nestle Nigeria, as a company that values good hygiene, made an investment in a water and sanitation facility in Adie Owe, Ado-Odo-Ota Local Government, Ogun State, that provides services to more than 500 people. Individuals, teachers, students in the school, and several families in the neighborhood are all served by the amenities.

Nestlé for Healthier Kids (N4HK), a school-based nutrition and health education program based on the four pillars of healthy diet, healthy hydration, physical activity, and hygiene, also helped LG Primary School Adie Owe.

Continuing in the same spirit, Nestle Nigeria started a water project in Nigeria’s north. a water project that reduced the strain on women and children, who had to previously travel great distances to obtain safe drinking water.

Water, Sanitation, and Hygiene (WASH): To encourage cleanliness and avoid illness, Nestle Nigeria built handwashing stations, latrines, and boreholes in rural areas.

To educate and empower women to be financially and economically independent, Nestle also launched several programs under its women’s empowerment initiative, including “Nestle Nigeria’s Empowering Rural Women in Nigeria.”

Through training, coaching, and subsidies in the form of Nestlé items that have a major positive impact on Nigerians’ well-being, the program assists rural women in growing their retail businesses and maintaining them at a level up to three times larger than their current ones.

The company has carried out several health programs, emphasizing disease prevention and nutrition for mothers and children. To combat malaria, the company reduced the number of cases by distributing insecticide-treated mosquito nets to populations that were at risk.

Regarding nutrition for mothers and children: Nestle Nigeria collaborated with the Federal Ministry of Health to enhance nutrition for mothers and children using micronutrient supplements and education.

It is expedient to know

Significant advantages have resulted from Nestle Nigeria’s community development initiatives, including better health outcomes, more educational opportunities, higher economic empowerment, infrastructure development, and environmental sustainability, to name a few.

Nestle Nigeria is committed to building a brighter future for Nigerians, as seen by its involvement in community development. This company keeps empowering communities, promoting good change, and enhancing lives through partnerships and sustainable projects.

SOURCE:https://brandspurng.com/2024/11/07/nestle-nigeria-embarks-on-wide-corporate-social-responsibility-across-communities-in-nigeria/