FrieslandCampina WAMCO has completed the purchase of Nutricima’s dairy business in Nigeria. In March FrieslandCampina and PZ Cussons signed an agreement regarding the acquisition. Nutricima’s dairy business will be integrated into FrieslandCampina WAMCO Nigeria PLC.
Nutricima Limited (the “Company”) was founded in Nigeria in 2005 and has earned itself consumer awareness within the dairy industry since then. FrieslandCampina WAMCO has acquired the Company’s production facility in Ikorodu, Lagos State and the brands Olympic, Coast and Nunu, a range of powdered, evaporated and ready to drink milk products. These brands have a good presence across the Nigerian dairy market.
This acquisition underlines FrieslandCampina WAMCO’s continued commitment to contribute to the development of the Nigerian dairy sector. The acquisition satisfies the need for additional production capacity for FrieslandCampina WAMCO to meet the growing demand for locally produced evaporated and powdered milk by Nigerian consumers.
According to Roel van Neerbos, President of FrieslandCampina Consumer Dairy, “FrieslandCampina WAMCO has been a key player in Nigeria since 1954. With this acquisition, we demonstrate our strong commitment to Nigeria and its dairy market.”
Ben Langat, Managing Director of FrieslandCampina WAMCO Nigeria said “It is our mission to bring affordable and attainable quality dairy products to all Nigerians and meet the growing demand. That’s why we are pleased with this acquisition.”
Over the last few years, FrieslandCampina WAMCO has invested significantly in capital expenditure, including a new warehouse and a world-class Learning Academy to build capabilities across functions and to drive talent development. Recently, the company commissioned a state of the art plant for local production of Peak Yoghurt, which is directly linked to its highly successful dairy development programme; a major investment that has been at the center of Nigeria’s backward integration in local milk sourcing over the last decade with over 9000 local farmers spread across 5 States in Nigeria.
FrieslandCampina WAMCO will continue to expand its portfolio, particularly through low unit price packs and by strengthening its distribution reach in the market.
Having fulfilled all requirements including requisite shareholders and regulatory approvals, FrieslandCampina WAMCO has commenced operations at the newly acquired plant.
Cordros records business expansion, announces 3 new subsidiaries
Cordros Capital Limited has announced a major corporate expansion with the establishment of 3 new subsidiaries.
Cordros Capital Limited has announced a major corporate expansion with the establishment of three (3) new subsidiaries. In a statement released to the media on Tuesday, the company announced that it had obtained all relevant licences and regulatory approvals to open shop for its Insurance, Trustees, and Registrars businesses.
According to the Group Managing Director, Mr. Wale Agbeyangi, Cordros Insurance Brokers Limited has been granted an operating license by both the Nigerian Council of Registered Insurance Brokers (NCRIB) and the National Insurance Commission (NAICOM). Also, Cordros Trustees Limited, and Cordros Registrars Limited.
Following the achievement of this new corporate milestone, the statement confirmed that the new businesses will commence operations in earnest.
It would be recalled that after commencing operation as a Securities Trading business in 2007, Cordros recorded significant milestones in 2010 and 2013 when it started its Investment Banking and Asset Management businesses, respectively.
Geely Auto to invest 54 million dollars in the development of healthy cars
Geely’s leading track record will be taken to a new level with the development of an all-round “healthier car.”
As Exclusive Partner of Geely Automotive in Nigeria, Mikano brings us great news of Geely Automotive innovative steps towards development of “healthy, intelligent vehicles” by earmarking 54 million Dollars of funding to it; as a furthering of the fight against Coronavirus.
The move not only adds a new dimension to Geely’s understanding of “passenger safety,” it also represents a new development direction for automobiles.
The development of a “healthier car” differs from specialized medical vehicles in that Geely’s products are made for ordinary consumers. Cars with comprehensive virus protection not only require the capability to isolate harmful substances in the air, it also needs to quickly and effectively purify cabin air for occupants.
Geely Auto’s global R&D and design networks based in Europe, USA and China will jointly move to develop and research new environmentally sustainable materials with anti-bacterial and anti-viral properties which can be used within air-conditioner systems and on frequently touched surfaces such as buttons and handles.
Geely Auto will make full use of its global R&D system and resources as well as cooperate with professional medical and scientific research institutions to set up special project teams to work on the new research.
An Conghui, President of Geely Holding Group and President and CEO of Geely Auto Group said “Epidemic prevention is a job that requires the long-term effort of wider society. As the most common mode of transportation, consumers spend a considerable amount time in their cars, akin to a “second home” Only by making healthier products can we meet consumer demand for better quality of life. Based on the automotive industry’s development direction built around electrified, connectivity, intelligence, and shared mobility, auto companies should commit to developing products that help protect the health of drivers and passengers. This will become one of Geely Auto key long-term development objectives.”
Earlier on January 28, Geely Holding Group joined hands with the Li Shufu Foundation to set up a special 30 million dollars fund in support of the new coronavirus prevention and control, with a focus on the mass purchasing of much needed medical supplies for China in the short term.
Geely’s leading track record will be taken to a new level with the development of an all-round “healthier car.” Geely’s move sets a new precedent in the development of safety technologies that goes beyond developing leading crash test results and moves into new dimensions of passenger safety.
Visit www.geely.ng to find out more about Geely Nigeria
Stanbic IBTC introduces Super App; upgraded with exciting features to enable seamless transactions
Stanbic IBTC Holdings PLC has upgraded its mobile App by introducing exciting features to enable seamless transactions.
The financial services industry is enjoying a phenomenal growth and Stanbic IBTC bank, certainly is not left behind in its effort to consistently guarantee a seamless digital experience. Everyday customers are exposed to innovative mobile technologies, this therefore places a higher expectation that Banking Apps will provide a fully rounded experience.
Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has upgraded its mobile App by introducing exciting features to enable seamless transactions for its customers with additional cutting-edge capabilities to enhance the customer experience. The App, termed the “Super App” is a one-stop App that offers the opportunity to transact across core banking transactions, while also managing Mutual Funds, Pensions, Insurance and Stockbroking accounts. Customers have a unique opportunity to experience unified access to all of these products, all at once. The App delivers easier, faster, and more convenient all-round experience.
Banking without barriers
At its core, the App has “My Bank” Module. This module of the Super App makes it possible to transfer funds to a single as well as multiple beneficiaries. You can also use My Bank on the Stanbic IBTC Super App to buy airtime, pay bills, make cardless withdrawals from an ATM, schedule payments and load a prepaid card. The special ‘Hide Account Balance’ feature on My Bank allows customers to hide their account balance, especially when in public or insecure environments. The Super App also offers quick log-in capability with facial and fingerprint biometric options and provides more self-service options such as unfreezing of account and password reset option. The integration of an automated voice banking service on the “Super App” allows customers to bank as quickly as they speak. Basic transactions can be performed by speaking directly to your mobile phone using the microphone icon on the top left corner of the App.
The Electronic wallet module is designed to meet the lifestyle needs of the informally served, under-banked and multi-banked using a unique combination of technology and agent network. With the @ease wallet, customers can send and receive money, purchase airtime, pay bills and withdraw cash through any of the agent networks. To ensure maximum security, the @easewallet is protected by a four-digit secret pin which is needed to log-in and authenticate all transactions on the App.
The Stockbroking module.
The Stanbic IBTC Stockbroking module gives direct access to the Nigerian Stock Market for its customers to trade independently. The days are gone when customers had to visit their stockbrokers and spend hours trying to attend to basic concerns about their investments in stocks and securities. This module also allows customers to check current stock prices; get stock market news; view, modify or cancel pending stock orders. Customers can also retrieve their stockbroking account information (trading account number, CSCS number, address, and more).
The Pensions module – A richer tomorrow.
With the Pension module, customers can enjoy the benefits of making inquiries, signing-up for e-statements, viewing their Retirement Savings Account (RSA), Approved Existing Scheme (AES) and Voluntary Contribution (VC) balances. They can also request registration certificates and customize their log-in profiles.
The Insurance module.
Stanbic IBTC has also introduced Insurance Brokerage solutions as a new feature on the Super App. This functionality enables customers of Stanbic IBTC Insurance Brokers view the status of their insurance policies, view their transaction history, renew insurance policies, report claims and upload claims-related documents and pictures.
The Mutual Funds module allows customers invest to ensure overflowing streams of income. You can also use the ‘Mutual Funds Module’ to create a new mutual funds account, increase online redemption limit, buy additional mutual fund and move funds across your various mutual funds or to a new mutual fund. With the “Mutual Funds Module’, you can make Investments with a few taps.
Indeed, the new Stanbic IBTC Mobile App is more than just the ordinary; It is a Super App.