Connect with us

Business

Wema Bank Set To Reward Customers With 945’ Promo

Published

on

Wema Bank Set To Reward Customers With 945’ Promo
One of Nigeria’s most innovative and digitally led financial institutions, Wema Bank, has set out to make this season of love as eventful as possible for customers with its ‘14 Days of Love with 945’ promo.
The two-week-long promo will see the bank giveaway goody bags, airtime and even data bonuses to bring the spirit of love, good cheer and fun to all this season.
The social media campaign (hyperlink: http://bit.ly/WemaALATsocial), slated for February 5 – 18, 2021, aims to encourage new and existing customers to transact and pay bills with the *945# codes for a chance to win prizes.
The promo will test customers’ knowledge of the different *945# USSD codes, wit and creativity in developing loved-themed messages and videos around the codes, among other activities.
Speaking on the campaign, Head, Brand and Marketing Communications, Wema Bank, Funmilayo Falola, said: “The *945# string codes represent the ease and simplicity of banking that we offer our customers. Plugging into this festivity of love, we intend to remind our Wema Bank family that not only do we care for their ease of banking, but their general welfare and happiness is a concern of ours, hence the gift and goodies attached to this campaign.”
Even as customers go about transacting with the *945# codes this season, hoping to claim one prize or the other, the Bank encourages them to maintain COVID-19 safety guidelines and show love, not just to family and friends but to themselves as well.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.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

Business

London Stock Exchange Welcomes Ecobank Nigeria’s Senior Bond Issuance

Published

on

London Stock Exchange Welcomes Ecobank Nigeria’s Senior Bond Issuance
London Stock Exchange Welcomes Ecobank Nigeria’s Senior Bond Issuance

Ecobank Nigeria on Thursday opened the market at London Stock Exchange via a virtual ceremony to mark the listing of its five-year fixed rate senior unsecured US$300 million bond.

 

Ecobank Nigeria, a subsidiary  of Ecobank Transnational Incorporated, the parent company of the  Ecobank Group, provides the full suite of banking products, services and solutions through multiple channels to retail, commercial, corporate and public sector customers.

 

The bond carries a coupon rate of 7.125%, significantly below its Initial Price Thoughts of 7.75%. The successful launch was three times oversubscribed and is the lowest  coupon/yield by a Nigerian financial institution for a benchmark bond transaction since 2013. It has an Issuer Rating of B- from Fitch Rating Agency and S & P. Citi, Mashreq, Renaissance Capital and Standard Chartered Bank acted as Joint Lead Managers and Bookrunners.

 

The proceeds will  provide medium term funding and help to enhance the capacity of the Bank to support international trade and service across Africa.

 

 

Patrick Akinwuntan, Managing Director, Ecobank Nigeria: “The strong demand for our bond shows the international appetite for the Ecobank franchise in Nigeria, its unique positioning for facilitating pan-Africa trade and  the attractive opportunity for the many investors seeking to back world-class Nigerian corporates.”

 

PUBLIC

DISCLAIMER: This email and any attachments are confidential and are intended solely for the addressee. If you are not the addressee tell the sender immediately and destroy it. Do not open, read, copy, disclose, use or store it in any way, or permit others to do so. Emails are not secure and may suffer errors, viruses, delay, interception, and amendment. Ecobank and its subsidiaries do not accept liability for damage caused by this email and may monitor email traffic.

Ce mail, y compris toute pièce jointe, est confidentiel. Il est exclusivement adressé aux destinataires désignés. Si vous le recevez par erreur, veuillez immédiatement aviser l’expéditeur et détruisez-le sans l’ouvrir ni le lire. Toute copie, diffusion, conservation, utilisation sous quelque forme que ce soit ou l’autorisation de toute personne à le faire est interdite. Le mail n’est pas un moyen sûr et peut contenir des erreurs ou des virus, comme il peut être retardé, intercepté ou modifié. Ecobank et ses filiales déclinent toute responsabilité pour des dommages causés par ce mail et se réservent le droit de contrôler la circulation des mails.

Continue Reading

Business

Q4 Report: Jumia Maintains 12% Gross Profit Increase YoY

Published

on

Q4 Report: Jumia Maintains 12% Gross Profit Increase YoY

….. as Business rebalancing drives growth

Africa’s leading ecommerce platform, Jumia has reported gross profit of €27.9 million, translating to a year-over-year increase of 12% in its 2020 Q4 and full year report released on Wednesday. The report by the pan African etailer showed that Gross Profit after Fulfillment Expense reached a record of €8.4m.

According to the company, business mix rebalancing, alongside enhanced promotional discipline, was a meaningful driver of economic improvement experienced throughout 2020, as the brand continues its progress towards profitability.

 “While 2020 has been a challenging year operationally with COVID-19 related supply and logistics disruption, it has been a transformative one for our economic model, as we firmly put the business on track towards breakeven.

We continued to make significant strides towards profitability during the fourth quarter of 2020. Gross Profit after Fulfillment expense reached a record €8.4 million during the quarter. In parallel, efficiencies across the full cost structure allowed us to decrease Fulfillment, Sales & Advertising and General & Administrative expenses (excluding share-based compensation) by 18%, 34% and 36% respectively, year-over-year.

As a result, Adjusted EBITDA loss contracted by 47% year-over-year, reaching €28.3 million. In addition, we raised approximately €203 million in a primary offering in December 2020,” commented Jeremy Hodara and Sacha Poignonnec, Co-Chief Executive Officers of Jumia.

As contained in the report, Total Payment Volume on JumiaPay reached €59.3 million, increasing by 30% year-over-year. On-platform TPV penetration increased from 15.6% of GMV in the fourth quarter of 2019 to 25.7% of GMV in the fourth quarter of 2020. JumiaPay Transactions increased by 10% from 2.4 million in the fourth quarter of 2019 to 2.7 million in the fourth quarter of 2020.

Overall, the report showed that 33.1% of orders placed on the Jumia platform in the fourth quarter of 2020 were paid for using JumiaPay.

Jumia’s annual active consumers reached 6.8 million in the fourth quarter of 2020, up 12% year-over-year with continued growth in both new and returning customers. This cascaded to increased sales on the platform, as Jumia’s 2020 Black Friday sales records surpassed that of the previous year.

The platform recorded 1.5 billion page views, up 34% when compared to 2019, while video content registered almost 100 million views, 3 times higher compared to the 2019 event. The report showed that more than 41,500 sellers participated in the 2020 event, with the top 20 sellers registering 141% growth in items sold in the 2020 Black Fridays compared to the same period in 2019.

The brand also recorded impressive figures on platform monetization. As contained in the report, Jumia Logistic service which was opened to third parties in 2020, shipped almost half a million packages on behalf of more than 270 clients.

According to the report, Jumia is also making meaningful progress in the reduction of the overall rate of Cancellations, Failed Deliveries and Returns (CFDR). “The CFDR rate as a percentage of GMV improved from 30% in 2019 to 25% in 2020. The CFDR rate as a percentage of Orders improved from 22% in 2019 to 16% in 2020.

The CFDR rate is typically lower when expressed as a percentage of Orders than GMV as higher average item value orders tend to show higher CFDR rates. As a result of the significant improvement in CFDR ratios, year-over-year trajectory of GMV and Orders after CFDR compares favorably vs pre CFDR. GMV was down 19% in 2020 while GMV after CFDR was down 12% and Orders increased by 5% while Orders after CFDR increased by 14% over the same period,” The report read.

The company also stated that General & Administrative expenses, excluding SBC, reached €21.8 million, down 36% on a year-over-year basis. This significant decrease was attributable to staff costs savings as a result of the portfolio optimization and headcount rationalization initiatives launched in the fourth quarter of 2019, alongside a decrease in professional fees, including legal expenses.

Jumia also reported operating loss of €40.0 million in the fourth quarter of 2020, while Adjusted EBITDA loss was €28.3 million, decreasing by 35% and 47% on a year-over-year basis respectively.

Continue Reading

Business

ACCESS BANK COMMENCES ACCELERATOR PROGRAM, TO EMPOWER STARTUPS THROUGHS AFRICA FINTECH FOUNDRY (AFF)

Published

on

ACCESS BANK COMMENCES ACCELERATOR PROGRAM, TO EMPOWER STARTUPS THROUGHS AFRICA FINTECH FOUNDRY (AFF)

The Africa FinTech Foundry (AFF), an initiative of Access Bank Plc has commenced its accelerator programs.

 

The initiative is set to empower emerging startups, with mentorship programs, advisory and has committed N10 million in cash to the top three finalists.

 

The accelerator program which opened its entries last month, received 306 registrations and after rigorous assessments was later shortlisted to 30 participants.

 

Theses finalists were further screened by the Head of the Africa Fintech Foundry, Mr. Daniel Awe; Group Head, Emerging Businesses, Access Bank, Mrs. Ayodele Olojede; and Vice President, Investments MBO Capital and Fintech Consultant, Mr. Oshone Ikazobor, in a bid to narrow it down to 10 -15 finalist.

 

Speaking on the sidelines of the event, Awe said the AFF was committed to empowering startups with resources and to ensure start-ups are equipped to scale their businesses.

 

He said: “If a start-up has an idea and you throw it into a market of 42 million customers, the acceleration is going to be faster. So, it is using the entire ecosystem of our group to build the future of the country.”

 

“In the next 10 years, these guys coming here we see them becoming a unicorn worth over $100 million and a season is coming where would see these startups becoming the next drivers of our economy.”

 

On funding available for the start-ups, he added: “Funding is based on ideas and what would be required to move the idea forward. We have a commitment of about N10 million. After they come into the accelerator program, there are a top three but the other ones are going to be exposed to investors.

 

“This initiative would have a direct impact into the economy because it is targeted at the medium scale businesses and these are the businesses that can change economies in terms of reducing employment rate and socioeconomic levels.”

 

Also speaking at the event, the Head, Retail Product Insight and Capabilities, Access Bank Plc, Mr. Rob Giles said: “We are looking for companies with ideas that can solve real world problems and were we are different from venture capital firms is we offer an environment where startups can be supported, nurtured, advised and get access to people who are further ahead on their journey like mentors.

 

“We have seen three companies that can go all the way and our job is to make sure they stay the course and structure their foundations from the very beginning that would allow them to scale.”

 

Furthermore, speaking to one of the participating startups, the Founder, Farm Delight Ms. Love Uduma, a start-up focused on agriculture value chain from production to distribution and consumption said this platform is an impactful stream for startups to get support from.

 

On her expectation, she said: “I am expecting tech support and a good relationship with the tech community. We have the agricultural aspect covered but we need the technology assistance and also funding.”

Continue Reading

Trending

Trending

Copyright © 2020 Thepage News