• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

ICYMI: Strategic plans, restructuring, appointments and everything else that happened in corporate Nigeria last week

Emmanuel Abara Benson by Emmanuel Abara Benson
January 22, 2023
in Business News, Company News, Exclusives, Newsletters
3 companies investigated as Q1 2023 earnings forecasts trickle in
Share on FacebookShare on TwitterShare on Linkedin

Welcome to Nairametrics’ Corporate News Roundup for the week ended January 21, 2023. This is a summary of the major company news stories from the past week, brought to you courtesy of Quidax. 

Nigerian companies have been announcing their strategic growth plans for the New Year. While Access Holdings is looking to raise capital to fund its new strategy, Chams HoldCo got a new licence even as Dangote Cement appointed a new CEO to lead the company. These and more in today’s roundup. Let’s begin.

Access Bank’s strategy: Last week, Access Holdings announced a 5-year growth strategy which it said would, among other targets, see customer acquisition for its retail business hitting 100 million by 2027.  

RelatedStories

Tetracore and Dangote Cement boost partnership to expand CNG Autogas Network with commissioning of new mobile refueling units in Phase II rollout

Tetracore and Dangote Cement boost partnership to expand CNG Autogas Network with commissioning of new mobile refueling units in Phase II rollout

June 10, 2025
 Dangote Cement rewards distributors, customers with CNG-Trucks, cash gifts worth N11 billion 

 Dangote Cement rewards distributors, customers with CNG-Trucks, cash gifts worth N11 billion 

May 29, 2025

The banking group also disclosed that it would target to establish a presence in at least 26 countries across the globe, including some OECD countries and other major financial hubs like Hong Kong, Mumbai, Beijing, etc. Of course, the goal of the expansion is to support intra-Africa trade and by doing so, make a profit for shareholders. 

Financing the plan: Meanwhile, to support its planned expansion as contained in the 5-year strategic plan, Access Holdings said it would need to raise capital.  

Without disclosing too many details about the capital plan, the banking explained that it would need to work with its development finance institutions (DFIs) partners and international financial markets to raise senior debt and quasi-equity. 

MTN’s incentive shares: MTN Nigeria announced that it is set to allot incentive shares to some shareholders who participated in its last public offer of 575 million ordinary shares. This is in fulfilment of the telco’s promise to give one ordinary share for every 20 ordinary shares bought by shareholders.  

To qualify for the incentive shares, shareholders’ names must appear in the register of members as of the qualification date which is 31st January 2023. 

Earnings projection: Jaiz Bank Plc projected N9.780 billion in gross earnings and N1.263 in profit after tax for the first quarter of 2023. 

Recall that the non-interest banking institution had reported a 20% jump in profit to N925 million in Q3 2022. 

New licence for Chams: Chams HoldCo Plc announced that it has received a payment service holding company licence from the Central Bank of Nigeria (CBN). Nairametrics reported that the company obtained the licence earlier this month. In addition to the licence, Chams HoldCo also renewed its switching and mobile money operators (MMO) licenses for its subsidiaries. 

The company’s Managing Director Mayowa Olaniyan explained that with the new licence, Chams HoldCo would be able to “establish a business institution that will further increase the pivotal role of the company in the payment industry across Africa and ensure global relevance”. 

Wakanow’s restructuring: Leading travel agency, Wakanow Limited, announced that it has restructured into a group entity in line with its next growth phase.  

As part of the restructuring, the company’s board of directors appointed Mr Adebayo Adedeji as the Group CEO and even as Mrs Adenike Macaulay was appointed as CEO of Wakanow Nigeria. Their appointments took effect this January. 

Funding Nigerian startups: Nairametrics reported that Nigerian tech startups – PaddyCover, Farmz2U, and Eight Medical – secured $200,000 each from Catalyst Fund, a pre-seed venture capital and accelerator. 

The funding was part of Catalyst Fund’s $2 million investment into 10 startups building solutions to improve the resilience of climate-vulnerable communities in Africa.  

NGX partners IFC: Nigerian Exchange Limited announced that it has partnered with the International Finance Corporation (IFC) to investigate gender-based violence and harassment in corporate Nigeria. 

A statement seen by Nairametrics explained that the study would be conducted as part of the Nigeria2Equal initiative, which aims to address gender-based violence in the private sector. The study would provide evidence-based recommendations that would help to prevent future gender-based violence. 

 New CEO for DanCem: Dangote Cement Plc announced the appointment of Arvind Pathak as Group Managing Director, effective from March 1, 2023. 

According to a statement seen by Nairametrics, Pathak’s appointment follows the impending retirement of the company’s current Group CEO Michel Puchercos who would officially step down on February 28, 2023. 

PZ Cussons Nigeria Plc also announced the appointment of Brian Egan as an interim Chief Finance Officer (CFO) of the Company, effective January 1st, 2023.  

A corporate disclosure seen by Nairametrics explained that the appointment follows the resignation of the former Chief Finance Officer Zubair Momoniat on 31 December 2022.  


Follow us for Breaking News and Market Intelligence.
Tags: Access HoldingsChams HoldCoDangote cementNigerian company newsWakanow Group
Emmanuel Abara Benson

Emmanuel Abara Benson

Emmanuel Abara Benson is an experienced business reporter and editor. He currently edits articles at Nairametrics. Reach him via email on Emmanuel.abara@nairametrics.com and follow him on Twitter @Mr_Abara for his personal opinions.

Related Posts

Tetracore and Dangote Cement boost partnership to expand CNG Autogas Network with commissioning of new mobile refueling units in Phase II rollout
Companies

Tetracore and Dangote Cement boost partnership to expand CNG Autogas Network with commissioning of new mobile refueling units in Phase II rollout

June 10, 2025
 Dangote Cement rewards distributors, customers with CNG-Trucks, cash gifts worth N11 billion 
Companies

 Dangote Cement rewards distributors, customers with CNG-Trucks, cash gifts worth N11 billion 

May 29, 2025
Dangote Cement
Dividends

Dangote Cement named dividend paying company of the year, edges out two other heavyweights 

May 25, 2025
Univasa, Kalabash54 seal partnership to launch Travel eSIM for international travellers 
Companies

Univasa, Kalabash54 seal partnership to launch Travel eSIM for international travellers 

May 20, 2025
The 10 most valuable companies in Nigeria as of September 2023 
Financial Services

Dangote Cement, Access, Zenith leads Nigerian companies with highest CSR donations in 2024 

May 8, 2025
companies
Equities

Leading Nigerian companies incurred net FX losses of N22.2 billion in Q1 2025, down 98% year-on-year

May 6, 2025
Next Post
Major oil marketers explains reasons for the lingering fuel scarcity, long queues

Major oil marketers explain reasons for lingering fuel scarcity, long queues at filling stations

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • FG secures Heathrow Airport slot for Air Peace under BASA with UK 
  • WAES: West Africa exported goods valued at over $166 billion in 2024 – Tuggar 
  • Heineken withdraws staff, suspends operations in Eastern DRC cities amid worsening rebel conflict 

Follow us on social media:

Recent News

Air Peace

FG secures Heathrow Airport slot for Air Peace under BASA with UK 

June 22, 2025
Yusuf Tuggar, Nigerian military

WAES: West Africa exported goods valued at over $166 billion in 2024 – Tuggar 

June 21, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics