The Board of Directors of Africa Prudential Plc has appointed Mrs. Christabel Onyejekwe as an Independent non-executive director of the company.
This was contained in the company’s notice to the Nigerian Exchange Limited seen by Nairametrics.
According to the company statement the appointment took effect from May 24, 2024 and subject to the approval of the Securities and Exchange Commission.
The statement reads:
The Board of Africa Prudential Plc (the Company) is pleased to inform the Nigerian Exchange (NGX), its shareholders and stakeholders, that Mrs Christabel Onyejekwe, has been appointed as an Independent Non–Executive Director of the Company with effect from May 24, 2024, subject to the approval of the Securities and Exchange Commission.
The board noted that the appointment is expected to promote an independent voice and bring a high degree of objectivity to the Board for sustaining stakeholder trust and confidence.
Profile of Mrs. Christabel Onyejekwe
According to the statement signed by the Company Secretary, Joseph Jibunoh. Mrs. Onyejekwe sits on the Boards of several companies and is a highly respected executive management professional and a proven change and result oriented leader, with over three decades of high-level experience in the financial service industry.
She brings to Africa Prudential Plc, vast knowledge and experience in implementing successful strategies for businesses, projects, and product development.
The Board is confident that Mrs. Onyejekwe’s appointment will further strengthen Africa Prudential Plc’s commitment to leadership excellence and sustained business growth.
Africa Prudential Plc’s financial performance
Africa Prudential Plc reported its earnings results for the full year ended December 31, 2023, showing sales of N872.57 million, a decrease from N1,903.22 million the previous year.
Net income was N962.91 million, down from N1,493.25 million a year earlier.
For the first quarter ended March 2024, the company reported sales of N59.09 million, a significant drop from N770.2 million in the same period the previous year.
However, net income increased to N197.31 million from N177.67 million in the comparable period of 2023. Basic earnings per share from continuing operations were N0.10, up from N0.09 a year ago.
On Thursday, May 30, 2024, Africa Prudential closed trading at N7.00 per share on the Nigerian Stock Exchange (NGX), marking a 5.3% gain from its previous closing price of N6.65.
Despite this recent increase, the company’s share price has declined by 5.41% since the beginning of the year, when it was valued at N7.40.
