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Business News

Outsource Global Extends Services to Silicon Valley, to Work with Business Reactors

Coming on the heels of its recent expansion to the UK and Japan, Outsource Global has announced its strategic working relationship with US-based information as a service firm, Business Reactor.

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Outsource Global Extends Services to Silicon Valley, to Work with Business Reactors

Coming on the heels of its recent expansion to the UK and Japan, Africa’s leading business process outsourcing company domiciled in Nigeria has announced its strategic working relationship with US-based information as a service firm, Business Reactor.

“We have traditionally served mainstream clients in financial services, legal, social advocacy, consultancy and healthcare within the US and UK markets. But technological advancements across the world shows that the tech industry is underserved,” said Amal Hassan, the Founder and CEO of Outsource Global. “Where else do we show the viability of this cost effective business model to tech founders, accelerators and venture capitalists than the home of tech innovation – Silicon Valley. We now have a working agreement with Business Reactors to introduce Outsource Global and its services to key players in Silicon Valley.”

Business Process Outsourcing (BPO) is considered not only a simple cost-cutting mechanism but also a strategic initiative used to improve the quality of business processes while managing the bottom lines of a company.

Such services are particularly important for tech innovators and global software companies that require acceleration partners to manage different operational processes to help deliver more efficient and lean growth while maximising operational expenses.

“I am confident, with the company’s sharp focus and strong leadership skills, Outsource Global is poised for global domination,” Valeiry Galistky, CEO Business Reactors said.

Speaking on the capacity of the organisation to handle the expected increase in client requests, Peter Oriabure, the Head of Infrastructure and Technology at Outsource Global said: “Keeping in view our strategic growth plan, and anticipating an increase in the number of clients that Outsource Global will serve over the next five years, we have established critical technological and infrastructural protocols to handle large client requests. We currently have about 800 remote teams working in three locations across Nigeria. We are able to increase that number to over 2,000 with 99.9 percent uptime.”

Outsource Global is one of the biggest and leading Africa business and knowledge process outsourcing firms based in Nigeria, providing services such as data training, software development, back office outsourcing, remote sales development as well as market research services to businesses, NGOs and public sector clients across the world.

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Business

FG explains why Lagos-Ibadan rail line was not linked to the sea

The government in its explanation said that the delay was due to disruption by trucks going in and out of the port complex.

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FG needs $656 million to complete Lagos-Ibadan railway project – Amaechi, Nigeria loses N150 billion annually to shipping tariffs, Ibadan to Kano rail construction

The Federal Government has stated why the China Civil Engineering Construction Company (CCECC) Nigeria Limited could not link the final part of the Lagos-Ibadan rail line to the sea.

The government in its explanation said that it was due to disruption by trucks going in and out of the port complex.

According to a press statement signed by the Director, Press and Public Relations of the Federal Ministry of Transportation, Eric Ojiekwe, this disclosure was made by the Minister of Transportation, Rotimi Amaechi, while on a routine tour of the Lagos-Ibadan rail line project on Saturday, April 10, 2021.

The Minister pointed out that the original blueprint for the Lagos-Ibadan rail line project was not adhered to by CCECC Nigeria Limited and TEAM consortium and therefore warned that the master plan of the soon to commence Ibadan-Kano rail line project should not be changed.

The statement from the ministry partly reads, “The Nigerian Government has restated its commitment to connect the whole country by rail with the soon to commence Ibadan-Kano Standard Gauge Rail project.”

Amaechi forewarned that the master plan of the soon to commence project should not be changed as the original blueprint for the Lagos-Ibadan wasn’t adhered to by Messrs CCECC Nigeria and TEAM consortium. The Minister who rode the train from Ebute-Meta to the 8.72 km Apapa Port Spur line, informed the media that the inability of Messrs CCECC Nigeria to link the final part of the rail line down to the sea is rather due to disruption by trucks going in and out of the port complex.’’

The Minister had noted that the Federal Government has paid its share of the counterpart funding of the Ibadan-Kano rail line project and is waiting for China-Exim bank to ratify its side of the agreement for the project to commence.

He also advised the Nigerian Railway Corporation (NRC) to acquire more land around the train stations and the rail tracks for future development adding that this will be near impossible to do in the future as whatever space available now would have been taken over by businesses attracted to the rail line.

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In case you missed it

It can be recalled that full commercial train services commenced on the Lagos-Ibadan rail line after train operations commenced on December 7, 2020, with only Lagos, Ibadan and Abeokuta residents enjoying the train services.

This is because other minor and major stations along that route were yet to be completed.

 

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Manufacturing

Industrial Index loses -12.39 points, as BUA and Lafarge Cement shares top losers list

The NSE Industrials index lost 12.39 index points in the first trading week in the month of April.

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Manufacturing: Activity levels pick up albeit readings still below water

The Nigerian Stock Exchange Industrial Index at the close of trading activities for the first week in the month of April closed on a bearish note, following a 0.66% decrease in the shares of BUA CEMENT and Lafarge.

At the close of trading activities on the Nigerian Stock Exchange on the 9th of April 2021, the industrial index depreciated by 55.01 index points, to close lower at 1,928.18 index points for the week.

When compared to the overall performance of the market, the NSE Industrial index underperformed, noting that the NSE All-Share Index and Market Capitalization depreciated by 0.66% to close the week at 38,866.39 and N20.3350 trillion respectively.

READ: COVID-19, VAT, FX scarcity adversely impacted our operations in 2020 – Nigerian Breweries boss says

What you should know

The NSE Industrial Index was designed to provide an investable benchmark to capture the performance of the Industrial Sector. It comprises the most capitalized and liquid companies in the industrial sector and is based on the market capitalization methodology.

The index tracks the performance of ten industrial companies on the Nigerian Stock Exchange which includes Dangote, BUA, and Lafarge Cement.

The overall performance of the companies for the week was bearish, as the index closed on a negative note driven by the decrease in the share price of BUA Cement and Lafarge.

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MEYER (19.51) was the only gainer for the week, while BUACEMENT (-1.09%) and LAFARGE WAPCO (-3.00%) were the only losers for the week.

GAINER

  • MEYER up by19.51% to close at N0.49.

LOSER

  • WAPCO down by -3.00% to close at N21.00.
  • BUACEMENT down by -1.09% to close at N72.70.

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