Connect with us
nairametrics

Companies

ORide Launches in Nigeria, Offers Amazing Prices

@oride_ng, an on-demand ride-hailing service has launched its services in Lagos with immediate expansion plans throughout Nigeria.

Published

on

ORide

ORide, a new and innovative on-demand motorbike ride-hailing service has launched its services in Lagos Nigeria with immediate expansion plans throughout Nigeria.

Driven by technology, the ORide service is accessible via the OPay app – a super app that’s available on Android and iOS, with features that cater to a range of lifestyle demands including food order and delivery, utility bills payment, cash access and more.

ORi

Launched in May 2019 with initial operations flagging off in Lagos, the service has since expanded into other cities like Ibadan.

The service launches with ORide Green, its flagship motorbike models of 200cc engine specification aimed at servicing long distance trip requests as well as ORide Street, its lighter offering to cater to shorter intra-city trips.

GTBank 728 x 90

ORide is a solution to a myriad of transport challenges, particularly heavy traffic. The service offers flexible payment options including cash, card payment, and payment through the OPay app that allows riders to access promotional offerings.

ORide

Iniabasi Akpan, Country Manager at Opay says About 25-30% of the Nigerian adult population are uneducated, poor, and have little or no access to financial services. As a business, we exist to remove the barriers to financial services and access to a better quality of life for the underprivileged and the financially excluded.

Deal book 300 x 250
GTBank 728 x 90

Through our business operations, we provide opportunities for operators and users in the less formal and informal sector to access the tools, training, skills and finance they need for a better life leveraging the use of mobile phones and technology. ORide is just one of those channels we consider vital to achieving our goals of providing access to financial services and improving the quality of life of low-income families.

There are also several other social benefits of ORide which includes the potential to create more than 100,000 tax paying jobs, easing the movement of people and goods, and boosting commerce and entrepreneurship.

ORide

A huge emphasis has been placed on driver training and safety. Several steps have been taken to ensure this.

Ridwan Olalere, Director of Product says “All ORide motorbike riders have been trained by safety professionals – our first training resulted in a 50% pass rate. We have then taken steps to hold a monthly class for the riders.

Jaiz bank ads

All ORide motorbikes come with a pre-adjusted speed limit of 60kmph. Also, the motorbikes have unique tracking devices attached to them and can be tracked online in real time”.

Fidelity ads

ORide

Both riders and passengers who take ORide are covered by comprehensive insurance and will also have access to 24hrs customer support service. In addition, Riders have access to healthcare.

Customers can download the Opay app now on iOS and Android or from the ORide website and for this July, pay only N200 for every trip they take that’s less than N2000.

Download the OPay app on Google Play store or iOS app store.

NM Partners represent articles published in paid partnerships with corporate organisations. They include press releases, targeted content, and other forms of corporate communications on behalf of our Paid Partners.

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Companies

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.

Published

on

dividend, Nigerian Breweries reports reduced profits for first three quarters of 2019 , Analysis: Nigeria Breweries, the glory days are gone, Nigerian Breweries to raise additional N20 billion from its N100 billion CP 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.”

GTBank 728 x 90

(READ MORE:Nigerian Breweries stock up by 58% since August )

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.

Deal book 300 x 250
GTBank 728 x 90
  • 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.

Continue Reading

Companies

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.

Published

on

MTN Nigeria, MTN Nigeria Communications Plc. begins N100 billion commercial paper issuance today

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.

READ: Shell to cut 9,000 jobs globally due to oil price crash as it shifts to clean energy

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.

READ: FUGAZ; Nigerian banks considered too big to fail

GTBank 728 x 90

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.

READ: World Bank says Nigerian banks are at risk of being destabilised by COVID-19

Deal book 300 x 250
GTBank 728 x 90

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.

Continue Reading

Companies

LASACO Assurance Plc Chairman, Aderinola Disu resigns from the Board of Directors

Aderinola Disu resigned her position as a Director on the Board of LASACO Assurance.

Published

on

Lasaco Assurance

Lasaco Assurance Plc has announced the resignation of its former Chairman, Mrs. Aderinola Disu, as a Director on the Board. The resignation took effect from the 8th of September, 2020.

The following information is contained in a press release made available to the public, signed by the company Secretary, Gertrude Olutekunbi, and verified by Nairametrics.

The notification also revealed that, the aforementioned firm has received a provisional approval from the National Insurance Commission (NAICOM) to appoint two other directors.

READ: 3 bank directors resign from NESG in protest to CBN immunity letter

The two newly appointed directors are; Dr (Mrs.) Maria Olateju Phillips, and Prince Jamiu Adio Saka, both appointed to a Non-Executive Director role.

GTBank 728 x 90

Profile of the two newly appointed Directors

Chief (Mrs.) Teju Phillips, is a successful Chartered Accountant, who holds an ACCA from England and Wales. She is multilingual and has extensive experience in Management/Consultancy services, that spans across many years in both the public and private sectors. She has served as a Director in Keystone Bank; Director, Lagos State Lottery Board; Honorable Commissioner for Special Duties & Inter-Governmental Relations in Lagos State; Managing Director of Alma Beach Estate Ltd (a subsidiary of Rims Merchant Bank Ltd); Managing Director, Maridot Ventures Ltd. among others.

READ: FIRS retires coordinating directors, appoints new ones

Deal book 300 x 250
GTBank 728 x 90

Prince Jamiu Adio Saka, is an accomplished Insurance professional, having practiced in Canada and Nigeria. He brings to the board over 30 years of experience as a Broker.

Lasaco Assurance Plc, is a listed Nigerian firm that provides life and general insurance services, which includes motor, bond, contractors-all-risk, fire, burglary, aviation, marine, general accident, life, pension schemes, engineering, and oil and gas. The company has a market capitalization of about N2.05 billion and it share price currently trades at N0.28 kobo.

Continue Reading
Advertisement
Advertisement
Advertisement
ikeja electric
Advertisement
Advertisement
Patricia
Advertisement
FCMB ads
Advertisement
IZIKJON
Advertisement
Fidelity ads
Advertisement
first bank
Advertisement
bitad
Advertisement
Stallion ads
Advertisement
financial calculator
Advertisement
deals book
Advertisement
app
Advertisement