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Patricia Launches New Products…firm set to change the narrative.

Patricia Technologies Limited users now have something to be excited about as the company.

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PATRICIA.COM.NG

Patricia Technologies Limited users now have something to be excited about as the company, Africa’s number one Giftcards and Bitcoin trading company recently launched a fleet of new Features ranging from Bank Account Number System, A Unique Bitcoin Wallet and Refill into the market recently available for Nigerian Users.

PATRICIA WALLET

The company expanded the Patricia Wallet to now include a  Naira Wallet, A Bitcoin Wallet and Bank Account Number system.

With the Patricia wallet feature, users would be able to hold balances with Patricia and use these balances to perform transactions within and outside the Patricia ecosystem.

The Patricia Wallet has two main wallet systems and they are:

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  1. The Naira Wallet which allows users to hold Naira Balances with Patricia. This wallet can be funded using the following methods:
  2. Bank Transfer (newly launched account number assigned to every user)
  3. Debit/Credit Card
  4. Successful completion of Trade of an item on Patricia.

What this means is that Patricia users will have a unique 10-digit Nigeria Uniform Bank Account Number (NUBAN) that can be used for transactions. Just like every other Bank Account, you can send and receive money using this account while performing other transactions right from the comfort of your home.

  1. The BTC Wallet allows users to hold BTC Balances with Patricia. Users would have unique a wallet address that can be used to send and receive BTC to and fro BTC other/any BTC platform.

The e-commerce giant has moved from just buying and selling, to also storage as anyone can now store BTC with Patricia.

REFILL

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This is where it gets even more interesting-the Patricia REFILL. This allows you to do a lot with Refill, you can make all your bills payments and subscriptions like Dstv subscriptions, electricity payment, airtime and data subscriptions. How do you do this? That’s simple, with your Patricia wallet balance (Naira or Bitcoin) you can do more with life, no stress, no hassle, just a tap on your button.

In an interactive session during the product launch, the Founder/CEO of PATRICIA Mr. Fejiro Hanu Agbodje, said “we are excited to introduce these products– We keep on pushing the limits of what is possible for us, this is one move closer to building an ecosystem, an ecosystem where business online is Faster, Smarter and More convenient. These new products will allow us to offer even more selections and faster delivery to new and existing users”.

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“This is the latest among the many products we intend to push out this year, and there is still many more to come,” he concluded.

Patricia expects these new products to create more than 300 new full-time jobs over time as operations reach full capacity. Job seekers interested in learning more about Patricia’s new positions and how to apply for open roles should visit[www.patricia.com.ng/careers]

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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.

1 Comment

1 Comment

  1. Charles C.Egwu

    October 4, 2019 at 2:30 pm

    I like what read about your firm. I would like to learn more. I am retired and pension and gratiuty is not being paid.

    Pls include me on your training/working/partnership deal.

    Thank you.

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Companies

AXA Mansard insurance divests from AXA Mansard pension as new owner emerges

This disclosure was made in a notification that was sent to the Nigerian Stock Exchange.

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AXA Mansard Insurance Plc

AXA Mansard Insurance Plc has announced its divestment from its subsidiary, AXA Mansard Pension Limited, after agreeing to sell its stake to Eustacia Limited, a member of the Verod Group.

This is part of the insurance firm’s plan to focus on and grow its insurance businesses across all parts of the country.

This disclosure was made in a notification that was sent to the Nigerian Stock Exchange (NSE) on August 8, 2020, by AXA Mansard Insurance Plc and signed by its Company Secretary, Mrs Omowunmi Mabel Adewusi.

AXA Mansard Insurance disclosed that Eustacia Limited was selected as the preferred bidder, after the completion of a bid process. AXA Mansard along with the minority shareholder agreed to sell the entire issued ordinary share capital of AXA Mansard Pensions comprising of 60% shareholding (2,067,672,000 shares) held by AXA Mansard Insurance Plc and 40% shareholding (1,378,448,000 shares) held by the minority shareholder.

READ MORE: Corporate Actions: Half a billion ‘frozen’, retirements and a New ED

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The statement from AXA Mansard Insurance reads, ‘’AXA Mansard Insurance Plc announces the divestment from its subsidiary, AXA Mansard Pensions Limited. After obtaining the Shareholder’s approval at the Company’s Extra-Ordinary General Meeting held on the 13th of February 2020, the Company commenced the process of divestment by appointing Messer Rand Merchant Bank as the Financial Advisers while Aluko & Oyebode acted as the Legal Advisers on the transaction.’’

‘’Upon completion of a bid process, Eustacia Limited (a member of the Verod Group) was selected as the preferred bidder. The Company along with the minority Shareholder entered into a sale and purchase agreement with Eustacia Limited to divest the entire issued ordinary share capital of AXA Mansard Pensions comprising of 60% shareholding (2,067,672,000 shares) held by AXA Mansard Insurance Plc and 40% shareholding (1,378,448,000 shares) held by the minority shareholder.’’

The insurance firm, also in its statement said that the divestment has received letters of no objection from the National Insurance Commission (NAICOM), National Pension Commission (PENCOM) and the Federal Competition & Consumer Protection Commission (FCCPC).

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READ ALSO: Forte Oil Plc hits fresh year to date low on the NSE

It should be noted that the completion of the divestment is, however, subject to the receipt of the final approval of the National Pension Commission.

In his reaction, the CEO of AXA Mansard Insurance Plc, Kunle Ahmed, said that this transaction marks a new step in the insurance firm’s broader strategy to focus on and grow their life, property & casualty and health businesses across all its geographies. He said that the AXA Group sees great potential in the Nigerian insurance market and believes they are ideally placed to capture these opportunities due to its market leadership position.

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On his part, the CEO of AXA Mansard Pension Limited said that they are confident about Verod’s strong commitment to providing the company with the requisite support to actualize their promise to its clients and stakeholders.

A partner at Verod Group, the new owners, Eric Idiahi, said, ‘’We strongly believe that this is the ideal time to enter the market and that AXA Mansard Pensions provides an excellent beachhead from which to establish a consolidated position and gain market share.’’

Nairametrics reported early this year that AXA Mansard Insurance Plc announced that its shareholders have approved the company’s plan to sell its pension management subsidiary, AXA Mansard Pensions Ltd and some undisclosed real estate investments.

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Companies

Africa’s largest telecoms firm, MTN, to divest from its Middle East operations

The MTN Group is in advanced talks to sell its stake in MTN Syria to the minority shareholder.

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Africa’s largest telecoms firm, the MTN Group, has announced its plans to exit the Middle East. This is part of the wireless carrier’s strategic plan to shift focus entirely to its home continent, Africa.

The mobile operator said that as part of its medium-term strategy, it will be leaving the Middle East, starting with the sales of its 75% stake in MTN Syria. Overly reduced revenue from war-torn Syria and the complex nature of the operating environment in the country are part of the reasons MTN is divesting.

READ MORE: MTN seeking to sell stake in Jumia Technologies AG

MTN’s Chief Executive Officer, Rob Shuter, noted during a conference call with reporters, that “the Middle East environment is becoming increasingly complex and it contributes less to the group’s earnings.’’

Shuter disclosed that the disposals in the Middle East region will be done in a phased manner, with its 3 consolidated subsidiaries in Yemen, Afghanistan, and Syria earmarked to be sold first. These markets only contribute about 4% to the group’s earnings before interest, depreciation, taxation, and amortization.

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READ ALSO: Why MTN is being dragged to court by families of American soldiers 

The MTN Group is in advanced talks to sell its stake in MTN Syria to the minority shareholder, TeleInvest, who has 25% stake in the firm, according to the CEO. He believes that the telecoms firm is better served to focus on its Pan-African strategy and simplify its portfolio by leaving the Middle East region in an orderly manner.

In the medium term, the group will also dispose of its 49% stake in MTN Irancell, one of its largest markets.

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The South African firm plans to exit the entire portfolio in time, which will then leave it with 17 subsidiaries in Africa.

Just yesterday, Nairametrics reported about MTN’s plan to sell its stake in Jumia Technologies. MTN will also be divesting from telecommunications infrastructure firm, IHS Towers. The divestments from Jumia and IHS Towers were informed by the decision to raise funds in order to reduce MTN’s debts. It will also help the company to refocus its operations.

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Companies

Airtel and Telkom discontinue merger plans

The disclosure was made in a notification that was sent to the Nigerian Stock Exchange.

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Raghunath Mandava, MD and CEO of Airtel Africa, Airtel Africa receives NCC approval to acquire 10 MHz spectrum for $94 million

Telecoms giant Airtel Africa Plc and Telkom Kenya Ltd have decided to discontinue the completion of their merger plans due to the lengthy process of the transaction which has been on since February 2019.

The two telecom firms resolved not to complete the business combination despite their respective efforts to reach a successful closure and having it drag on for a while.

The disclosure was made in a notification that was sent to the Nigerian Stock Exchange (NSE) by Airtel Africa and signed by its Group Company Secretary, Simon O’Hara, on Wednesday, August 5, 2020.

A subsidiary of Airtel Africa Plc, Airtel Networks Kenya Limited and Telkom Kenya Limited, in collaboration with other parties, had entered into an agreement on February 2019 to combine their businesses in Kenya, so as to create an integrated telecommunications platform with mobile, enterprise and wholesale divisions.

Airtel Africa Plc in its statement said, ‘’Airtel Networks Kenya Limited (Airtel Kenya), an Airtel Africa Plc subsidiary, and Telkom Kenya Limited (Telkom) amongst other parties, had entered into an agreement dated 8th February, 2019 to combine their businesses in Kenya, so as to create an integrated telecommunications platform with mobile, enterprise, and wholesale divisions.’’

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‘’The completion of the business combination was subject to the satisfaction of various conditions precedent, including regulatory approvals.

“Despite Airtel Africa Plc and Telkom respective endeavours to reach a successful closure, the transaction has gone through a very lengthy process which has led the parties to reconsider their stance. Accordingly, Airtel Africa Plc and Telkom have decided to no longer pursue completion of the Transaction.’’

In his own reaction, the Chief Executive Officer of Airtel Africa Plc, Raghunath Mandava, said that Kenya was a large and growing market and stressed on the commitment of Airtel Africa to build a growing profitable business.

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He disclosed that the telecoms giant currently serves over 14 million Kenyan customers, a number that is growing every month. He pointed out that the revenue numbers were up double-digit in constant currency in Kenya in the last quarter.

The Airtel boss reiterated the strategy of the firm is to focus on winning more customers, invest in a best in class voice and data network and progressively expand their mobile money business, will continue to build on these results in order to deliver against the opportunities the Kenyan market has to offer.

Airtel Africa is a leading provider of telecommunications and mobile money services with a presence in 14 countries in Africa primarily in East Africa and Central and West Africa.

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