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Airtel CEO, Segun Ogunsanya, Named Industry Personality of the Year2 minutes read

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The CEO and Managing Director of Airtel Nigeria, Segun Ogunsanya, has been named the African Industry Personality of the Year by the Editorial Board of the African Leadership Magazine.

Airtel, in a statement on Thursday, said that the Leadership Magazine were the organisers of the prestigious African Business Leadership Awards 2020.

It said that Ogunsanya was presented the award at a colourful virtual ceremony held on Sept. 30.

Airtel noted that the virtual event was attended by Ernest Bai Koroma, former President, Republic of Sierra Leone; John Rwangombwa, Governor, National Bank of Rwanda and Mele Kyari, Managing Director of the Nigerian National Petroleum Corporation (NNPC) Group , among others.

According to the Magazine, “the Industry Personality of the Year award recognises the individual whose vision and innovations have become drivers of growth in particular industry sectors.

“It also recognises people that have permanently impacted in the way of doing business in that particular sector.’’

Ogunsanya emerged winner after a three-step point-based selection process was done and reviewed,’’ it said.

The company said that other contestants in the industry personality of the year award category were Joao Figueiredo, CEO, Moza Banco, Mozambique (who emerged first runner-up), and Paul Gbededo, CEO, Flour Mills of Nigeria.

Commenting on the recognition, Ogunsanya expressed appreciation to his colleagues for their support and backing, while he dedicated the award to Airtel Nigeria customers, as well as other telecoms consumers.

“This award is a special present to me, as we celebrate our 60th anniversary.

“This could not have come at a better time,” he said.

According to the statement, the keenly contested awards attracted over 220, 000 entries on the magazine’s website and across the social media platform.

The Publisher of the Magazine, Dr Ken Giami, said: “Africa depends on businesses and its leaders for sustenance, jobs and wealth creation.”

The Publisher said that at this time when there was widespread disruptions occasioned by the COVID-19 pandemic, the role and place of the business community was to serve their clients.

He noted that their role was also to become strong positive references for society on how to thrive amidst uncertainties.

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Business News

UACN Tops Gainers’ Table As Nigeria’s Bourse Rebounds By N59M

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The Nigeria Stock Exchange (NSE), on Thursday, rebounded with a growth of N59 billion in spite of social unrest and curfew in major cities of the country.

Specifically, the market capitalisation which opened at N14.870 trillion rose by N59 billion or 0.40 per cent to close at N14.929 trillion.

Also, the All-Share Index increased by 114.38 points or 0.40 per cent to close at 28,563.87 compared with 28,449.49 achieved on Wednesday.

The upturn was impacted by gains recorded in large and medium capitalised stocks, amongst which are; MTN Nigeria Communications, Stanbic IBTC Holdings, UACN, Lafarge Africa and Dangote Sugar Refinery.

Market sentiment measured by the market breadth was positive with 21 stocks gainers against 12 losers.

UACN drove the gainers’ table in percentage table, growing by 8.33 per cent to close at N7.15 per share.

Union Diagnostic followed with eight per cent to close at 27k, while FCMB Group rose by 7.96 per cent to close at N2.44 per share.

United Capital increased by 6.44 per cent to close at N3.80, while Neimeth appreciated by 5.26 per cent to close at N1.80 per share.

Conversely, Wapic Insurance led the losers’ chart in percentage terms dropping by 9.09 per cent to close at 40k per share.

UACN Property Development trailed with 3.66 per cent to close at 79k, while GlaxoSmithKline shed 3.57 per cent to close at N5.40 per share.

International Breweries dipped 2.95 per cent to close at N6.25, while Fidelity Bank depreciated by 2.50 per cent to close at N1.95 per share.

However, the total volume traded decreased by 4.67 per cent with an exchange of 311.33 million shares worth N4.69 billion traded in 3,375 deals.

This was in contrast with a total of 326.58 million shares valued at N4.22 billion transacted in 4,367 deals on Wednesday.

Transactions in the shares of Guaranty Trust Bank topped the activity chart with 77.84 million shares worth N2.34 billion.

Access Bank followed with 57.66 million shares valued at N442.78 million, while Zenith Bank traded 39.58 million shares worth N813.77 million.

FBN Holdings sold 21.75 million shares valued at N131.58 million, while United Bank for Africa transacted 18.16 million shares worth N122.81 million

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South Africa’s Pick n Pay To Open Store In Nigeria

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Pick n Pay, the second largest supermarket chain store in South Africa, plans to open its first store in Nigeria.

The retailer – which has stores in Botswana, Zambia, Zimbabwe, Lesotho, Namibia, and Swaziland will enter a market that rivals like Shoprite and Mister Price are withdrawing from.

Pick n Pay’s Nigeria venture will be a partnership with A G Leventis, a group with investments in West Africa ranging from agricultural equipment to property management.

The South African supermarket chain believes it can overcome problems that have hit competitors, like currency devaluations and logistical challenges, as well as barriers to repatriating profits.

Pick n Pay’s strategy in Nigeria will focus on opening small neighbourhood stores, whereas other foreign retailers have established flagship stores in large shopping centres.

On Tuesday the company reported a 56% drop in profits for the first half of the financial year, following constraints caused by South Africa’s strict lockdown, with reduced trading hours, a ban on sales of alcohol and tobacco, plus restrictions on sales of clothing.

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Business News

Anonymous Didn’t Hack Our Website – First Bank

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Anonymous, an online network known for launching cyberattacks against government institutions, has reportedly hacked the website of First Bank of Nigeria Limited.

But the financial institution has denied the hack.

A visit to the bank’s website at 01:30pm showed that it had been brought down completely.

In a string of tweets, Anonymous confirmed bringing down the bank’s website while alleging that the bank deducted money from the accounts of customers who are in support of the #EndSARS campaign.

Anonymous also accused the bank of instructing its staff not to join the #EndSARS campaign.

It stated, “Now #ENDSARSOPPRESSION Official website of First Banks Nigeria has been taken #Offline. You remove money from users because they support #EndSARS.

“We #Anonymous have taken-down your website in support of #EndSARS

“You will pay for your actions. you should have expected us!

“Enjoy your server taken down. no money is gone.”

Anonymous, however, said it would restore the website after it “keep it down for some time”.

However, First Bank said the website was never brought down in the first place.

The bank said, “Our attention has been drawn to the tweet making the rounds on social media on shutting down the FirstBank website following a false tweet that the Bank prevented staff from joining the ongoing protests in the country.

“As the largest banking institution in Nigeria, it is not unlikely that we may be seen as a target in circumstances such as these. This is rather unfortunate as we believe far-reaching reform is necessary and we have said as much on a number of occasions across our platforms.

“In the process of change, some pain will be borne by all and some anger may well be misdirected. We understand this as a part of the process of the struggle.

“”We have a large staff strength and an even larger customer base who may be affected by any disruption and this would be a pity as a number are also contributing in many ways to ensure that voices are heard and required action is taken.

“We have been consistent in our message on the need to end all brutality and carry out necessary reforms. We will continue to lend our voice accordingly.”

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