Lagos based fintech company, NetPlusDotCom, announced a webinar series focused on helping businesses with digital transformation; the first part of the series set for June 3rd begins with a Webinar on eCommerce and digital payments.
As the whole world slowly reopens after several weeks of lockdown, we should not expect things to go back to the way they used to be, the world has changed and there will be an emergence of a new normal.
There are clear economic indicators showing that we are entering a deep global recession and an ongoing debate about what shape the global economy will take as it starts.
Some argue the recovery will be quick, other economists disagree and believe that it will take several years for things to bounce back. Whichever side you believe, one thing is clear, businesses around the world are already impacted, some so bad that they won’t survive and it is already happening, as earlier this week, US car rental giant, Hertz filed for bankruptcy for a chance to restructure.
What the post-COVID-19 era for businesses will look like is anyone’s guess, but one theory is emerging and already being validated – Digital Transformation – this means leveraging technology as a driver for your business across various functions and indicators.
This will be very important and specifically for SMEs who are generally used to conducting business in certain ways. This transformation may not come naturally or organically but will require deliberate and concerted effort.
At the minimum, these (3) areas must be explored in thinking about Digital Transformation:
- Driving Sales/Revenue using Digital Tools – business must learn to reach customers digitally, there is going to be fierce competition and those that will thrive must device new customer engagement strategy.
- Lowering cost through Digital Tools – this is key as businesses must manage their asset and increase their runway by leveraging today’s tools to serve customers tomorrow.
- Refocusing – businesses may have to choose and narrow their offerings, backed with digital tools.
NetPlus understands this and so is organizing this webinar which is focused on helping business owners through the challenges presented in managing their businesses during this COVID-19 era and especially after.
The tech firm has also announced a relaunch of its payment gateway, NetPlusPay 2.0, which will allow Nigerian businesses receive and reconcile payments from anywhere in the world using cards and directly from bank accounts.
Online, specifically, contactless payments have received increasing interest from all over the globe since the rise of the Coronavirus pandemic. The question however is, how reliable are the existing platforms?
The world has largely become dependent on online transactions and many are predicting a continuous superiority of the digital payments trend over cash, even post the pandemic. Unfortunately, we are seeing a higher number of failed transactions and many suggest that this is possibly due to the saturation on these platforms.
NetPlus answers this question or maybe concern with the launch of her revamped payment gateway.
The Product lead, Emeka Akano, who will be the champion for the Series, told TechRoundUp that “NetPlus 2.0 has been redesigned and readapted to carry on the increasing numbers of people relying on digital payments through this unprecedented times.
“We are 100% confident that our solution will seamlessly eliminate the concern of business owners as regards receiving payments and also serve as an alternative gateway for those with existing solutions, but requires reliable alternatives.
“We won’t assume that people may not already have an existing solution, what we are saying is it won’t hurt to have a reliable alternative hence, NetPlus 2.0, and this is how confident we are of what we have created.”
For information on how to register for the webinar;
please visit: www. netplusdotcom.com/webinar.html
Heavy sell-off in Guinness shares leads to N6.9 billion market value loss in a single day
Shares of Guinness Nigeria Plc suffered a 9.89% loss today.
Guinness Nigeria Plc suffered a 9.89% loss today following a heavy sell-off in the shares of the brewer. This triggered a market value loss amounting to about N6.9 billion at the close of trading activities on the Nigerian Stock Exchange, as investors scaled-down stakes in the brewer.
Data tracked at the close of the market today revealed that the shares of GUINNESS declined from N31.85 per share at the market open, to N28.70 per share at the close of the market today, to print a loss of 9.89%.
This decline saw the market capitalization of the leading maker of beer and spirits fall from N69.75 billion to N62.86 billion at the close of trading activities today, putting the total market value loss at N6.89 billion.
The shares of Guinness at the close of the market today cleared at N28.70 per share, 9.89% lower than the closing price of N31.85 per share yesterday.
At the current price, Guinness shares are currently trading 20.27% lower than their 52-week high of N36.00 per share. However, the shares of the company have returned about 120.8% gains for investors who bought them at their 52-week low trading price of N13.00 per share last week.
During trading hours on the Exchange today, about 159,380 ordinary shares of Guinness Nigeria Plc worth about N4.57 million, were exchanged in 27 executed deals.
The shares of Nigerian Breweries Plc and Golden Guinea Breweries Plc closed flat at N50.1 per share and N0.81 per share respectively, while the shares of International Breweries Plc shed 0.88% to close low today at N5.65 per share.
What you should know
- At the close of trading activities today, the NSE All-Share Index and market capitalization appreciated by 0.29% to close higher at 39,128.34 index points and N20.477 trillion respectively.
- The NSE Consumer Goods Index, an investable benchmark designed to track the performance of the shares of consumer goods companies like Guinness Nigeria Plc, depreciated by -0.35% to close the day lower at 553.26 index points.
NAICOM revokes operational licence of UNIC Insurance, appoints Receiver/Liquidator
NAICOM stated that it had appointed Hadiza Baba Gimba as the Receiver/Liquidator to wind up the affairs of the company.
The National Insurance Commission (NAICOM) on Wednesday announced the withdrawal of the operational licence issued to UNIC Insurance Plc.
Although no official reason has been provided for the revocation of the insurance firm’s operating license, NAICOM, however, stated that the decision of the regulator was in the exercise of the powers conferred on it by the enabling laws.
According to a report from the News Agency of Nigeria (NAN), this disclosure is contained in a notice which was issued by the commission in Lagos to the general public and policyholders, where it noted that the revocation of the operational license, RIC 043, is with effect from March 25.
NAICOM, thereafter stated that it had appointed Hadiza Baba Gimba as the Receiver/Liquidator to wind up the affairs of the company.
NAICOM in its statement said, “The general public/policyholders are by this notice required to direct all inquiries and correspondence regarding UNIC Insurance to the receiver/liquidator.
The receiver/liquidator will be dealing with the company’s liabilities in accordance with the provision of Insurance Act 2003.’’
What you should know
- It can be recalled that NAICOM, for the third time in June 2020, gave insurance firms in the country a one-year extension to meet the recapitalisation obligation that was recently set for them apparently due to the coronavirus pandemic which had disrupted the activities of most insurance companies.
- Some insurance companies had been going through some bad patches with a good number of them struggling to meet up with their obligations and the recapitalization requirements.
- The recapitalisation programme requires life insurance firms to meet a minimum paid-up capital of N8.0 billion, up from N2.0 billion previously. In the same vein, general insurance companies are required to raise their minimum paid-up capital to N10.0 billion from N3.0 billion previously.
- The regulatory capital for composite insurance was raised to N18.0 billion from N5.0 billion previously while reinsurance businesses are now required to have a minimum capital of N20.0 billion from a previous N10.0 billion.
Nairametrics | Company Earnings
Access our Live Feed portal for the latest company earnings as they drop.
- VFD Group set to raise additional capital of N9.01 billion through rights issue and private placement.
- GT Bank records a 9% dip in profit to N45.55 billion in Q1 2021.
- Secure Electronic Technology Plc records a 121% surge in Profit after tax in Q1 2021.
- Lafarge Africa Plc notifies stakeholders of 62nd Annual General Meeting.
- GlaxoSmithKline (GSK) announces Annual General Meeting.