The Lagos State Employment Trust Fund (LSETF) in partnership with Jobberman and ATC (one of Nigeria’s leading independent owner, operator, and developer of wireless and broadcast communications real estate), has graduated 62 trainees within the Makoko community in Lagos State and succeeded in attaining 44% job placement for them.
The partnership, which kicked off in October of 2017 is aimed at training and providing job placements for unemployed youths within the various communities in Lagos State, with the initiative kicking off with Makoko. Youths, who possess a minimum of SSCE certification will receive an intensive training in life skills, entrepreneurship and information and communication technology (ICT). The training will include digital skills such as graphics and web designs, digital marketing as well as photography and videography.
This is in line with the Fund’s key mandate of bridging the huge unemployment gap in the state, by providing skills development and job creation opportunities for thousands of unemployed youths in Lagos State and to ensure effective learning and individual coaching, the training partners will admit and train 36 youths monthly in 6 months cycle across the state.
Commenting on the initiative, the Executive Secretary of LSETF, Mr. Akintunde Oyebode said “The Makoko youth has been entrenched in the minds of Lagos residents as the poster child of indigent living conditions and lack of opportunities. So as change agents, our choice of starting this initiative with Makoko is straight forward. We aim to make an impact in the very heart of where the problems of poverty and unemployment are most manifested.
“With this initiative, we intend to create a pipeline of very young competent professionals who would inspire the younger generation of youths in their community to aspire to a life of meaning and opportunity. There is no better way than to equip them with life and digital skills, which are today, the most relevant requirements in the digitally-driven businesses and economies”. he said
Asides this partnership, the LSETF is currently working with the United Nations, Development Programme (UNDP) through the Lagos State Employability Support Project. Already, the programme has graduated over 1134 trainees and has helped with job placement of 263 of the certified trainees.
Registration for the 2nd batch of trainees is currently ongoing and it is expected that by the end of the training, the state will experience an increase in the pool of skilled manpower required to alleviate the acute shortages of employable labour.
“To enable the success of this initiative, the LSETF calls on well-meaning individuals, corporates and civic societies, who are very keen to join us to combat the scourge of unemployment can do so by contacting the Fund for donation or strategic support partnership. The UNDP and some individuals have already set the pace in this very exemplary endeavor, so I enjoin others to join the league”, Oyebode added.
Dangote delays London Stock Exchange listing
Dangote Cement Plc isn’t expected to attempt a U.K. initial public offering until at least 2023.
Africa’s richest man, Aliko Dangote, is once again delaying plans to list Nigeria’s second most capitalized company on the London Stock Exchange, rather choosing other options like boosting exports and the Nigerian company’s foreign-exchange reserves in a report credited to Bloomberg.
Dangote Cement Plc, Africa’s biggest producer of building material isn’t expected to attempt a U.K. initial public offering until at least 2023, Temilade Aduroja, Head of Investor Relations, at the Lagos-based company, said by email.
“The London listing is not something which will happen in the short to medium term. We are focused on our export strategy and increasing our foreign-currency revenue,” he said.
Dangote, a major shareholder of Dangote Cement, with a net worth of more than $14 billion has longed for the company to have a secondary London Stock Exchange listing to diversify its holding and gain more leverage to cheaper funds on international markets.
Aliko Dangote said in 2018 that the listing would happen the following year (2019), only for Brian Egan, former Chief Financial Officer, to state that 2020 was more likely.
More detail later as the story is developing…
NB Plc to raise additional N20 billion from its N100 billion Commercial Paper
Nigerian Breweries has announced the continuation of its N100 billion Commercial Paper (CP) Issuance Programme.
Nigerian Breweries has announced the continuation of its N100 billion Commercial Paper (CP) Issuance Programme in a bid to raise up to N20 billion to support its short term funding needs. The company has launched Series 9 and 10 of the programme for this purpose.
This information was disclosed in a notification signed by the Company’s Secretary, Uaboi G. Agbebaku, and sent to the Nigerian Stock Exchange.
The notification reads;
“[Nigerian Breweries Plc] is pleased to inform the Nigerian Stock Exchange and the investing public of the continuation of its “CP” (Commercial Paper) programme with the launch of Series 9 and 10 of the programme.
“Series 9 of the Commercial Paper programme would be for a tenor of 180 days, while Series 10 would be for 270 days. However, the launch of the CP opens today 23rd October 2020.”
What you should know
According to data obtained from Financial Market Dealers Quote (FMDQ), Nigerian Breweries has raised up to N90.12 billion since the start of the year.
- N52.76 billion was raised from Series 6 between February 12 to November 6, 2020.
- N13.03 billion was raised from Series 7 from April 15 to October 14, 2020.
- N24.33 billion was raised from Series 8 from April 15 to January 8, 2021.
- The recent issuance of the Series 9 and 10 CP will bring the total funds raised to N110.12 billion.
Why it matters
- The CP will help the company navigate through the recent impact of COVID-19 and other trade disruptions.
- The programme will strengthen the balance sheet of the company, and enable the brewer to execute its plans while delivering value to customers and creating wealth for shareholders,
- In like manner, the CP programme is expected to provide opportunities for non-equity investors to invest in the company and support its cost management initiatives.
MTN shareholders have made approximately N1 trillion since April 2020
Shareholders of MTN Nigeria gained close to a trillion naira in less than 7 months.
MTN Nigeria shareholders have gained N986.58 billion since the first trading session in April 2020.
This was uncovered by calculating the difference in the telecommunication giant’s market capitalization of ₦1.832 trillion at the open of trade, for the first trading session in the month of April 2020, and the market capitalization of ₦2.646 trillion at the close of trade in the first trading session in the month of October.
This gives a whopping N814 billion increase in market capitalization, and this with the dividend the company has paid to shareholders on two occasions between this time period, brings the total gains both realized and unrealized to approximately N1 trillion.
Hence, the N814 billion increase in market capitalization translates to the joint gains MTN investors have made from the increase in the shares of the company, as the share price of the company has increased by 44.44% or ₦40.00 between April 1, 2020, and October 2, 2020, with the share price of increasing from ₦90.00 to ₦130.00.
However, the gains MTN NG investors have made from their investments in the telecommunication company, is not limited to the gains driven by the increase in the price of the shares.
Recall that the company declared payment of dividends to its shareholders on two occasions, as investors/shareholders of the company, whose names appear in the Register of Members, as of the close of business on April 17, 2020 and August 14, 2020 were paid a cumulative dividend per share of ₦8.47, for all the outstanding shares of 20,354,513,050 held by the shareholders, and this translates to a total dividend payout of N171 billion by the company to its shareholders.
It is noteworthy that the realized and unrealized gains MTN investors have made from holding the shares over this period stands at N986.58 billion.