BrandArena: July 2020

Wednesday 29 July 2020

Plans revised for HSBC World Rugby Sevens Series 2021

Working group formed to review schedule for a safe, secure and impactful return to action; Combined events in Dubai and Cape Town will not take place in 2021 Series; Health and wellbeing of the rugby community and the wider public remains top priority; New Zealand were awarded men’s and women’s titles as 2020 Series concluded – read here (

Heavy Market Liquidity Continues To Drive OMO Rates Down The Tide

KEY INDICATORS                                                                                                                     






As at June 2020. A 16bps increase from 12.40% recorded in May 2020



As at the July 20, 2020 MPC Meeting. Maintained at 12.50%

External Reserves


As at Jul 24, 2020. A c.0.06% decrease from $35.99bp on Jul 23, 2020

Brent Crude


As at Jul 28, 2020. A c.1.02% increase from $42.93pb on Jul 27, 2020

FGN Bonds

The FGN bond space started on a quite interesting note as actions from profit-takers gingered slight action especially at the tail of the curve. The day kicked off with better offers for the 2035 and 2050s papers which were matched with available bids in the market. The 2035s opened the day with it trades settling around 8.90% and then gradually increasing to 8.95% levels. By mid-day, we saw trading activities slowed, with more offers shown, and bids becoming less aggressive, making it difficult to close trades while quotes stayed stuck at 9.05%/8.95%.

MediaReach OMD Employs Data on Media Consumption to Aid Businesses in Navigating the New Normal

mediaReach OMD, a frontline marketing and media agency, had during this period of the coronavirus (COVID-19) pandemic, guided media planners, buyers, and businesses in their investment bid with data-driven newsletters on media consumption habit to maximize profits and increase productivity and to navigate the new normal.

Mastercard Leads the Payments Industry Forward to a More Sustainable Future

More than three-quarters of people say they are "very concerned" about the environment and feel companies should be doing more to address their impact on the planet. As consumers look for ways to help tackle climate change through their own positive actions, many are limiting their use of single-use plastics. 

World Hepatitis Day: LASUTH Gastroenterologist Speaks on Hepatitis Care

As the world commemorates World Haematology Day, Dr. Charles Onyekwere, Head of Gastroenterology & Hepatitis Unit, Dept. of Medicine, LASUTH joined the rest of the world to celebrate this day as he spoke, on the theme of the 2020 World Hepatitis Day which is tagged ‘Find the Missing Millions’, during a webinar on Monday, the 27th of July, 2020.

TAJBANK Holds 1st AGM as Shareholders Laud Performance

TAJBank Ltd has held its 1st Annual General Meeting (AGM) in Abuja recently as shareholders lauded the institution for an impressive performance over its first month of operations covering December 2019. The bank recorded remarkable growth across key performance indicators signifying not only viability but success of the non-interest banking model in the Nigerian banking environment.

GBfoods Relaunches its Bama Product with state-of-the-art factory in Nigeria

…develops new packaging design with a premium quality stamp 

Bama Mayonnaise, leading mayonnaise brand from the portfolio of GBfoods Nigeria, recently completed its state-of-the-art production factory in Sango, Ogun State. The factory which is the largest in Sub Saharan Africa, will support the manufacturing of the Original recipe Bama mayonnaise for Nigeria and West Africa. The factory successfully rolled out its first batch of products to the Nigerian market recently. GBfoods Nigeria is a subsidiary of GBfoods Africa, a partnership between GBfoods and Helios Investment Partners.

Tuesday 28 July 2020

FIRS releases public notice on the applicable stamp duties rates

The Federal Inland Revenue Service (FIRS) recently issued a Public Notice (the Notice) clarifying the applicable stamp duties rate on certain transactions. According to the FIRS, the Notice became necessary in response to requests received from taxpayers seeking clarification on the chargeable stamp duties due to the tax authorities. The renewed focus on stamp duty is to make it a major source of revenue for the government.

Interbank System Awash With Liquidity As Apex Bank Holds Back On OMO Issuance

KEY INDICATORS                                                                                                                     
As at June 2020. A 16bps increase from 12.40% recorded in May 2020
As at the July 20, 2020 MPC Meeting. Maintained at 12.50%
External Reserves
As at Jul 23, 2020. A c.0.05% change from $36.01bp on Jul 22, 2020
Brent Crude
As at Jul 27, 2020. A c.2.20% decrease from $43.90pb on Jul 24, 2020
The FGN bonds space opened the week on a very hushed tone as yield continued to drop across the benchmark curve. With the bulls still in the market, one would have expected exciting actions, however, we saw them scramble for bonds at a very slow pace while hoping for more profit-taking actions from the bears which might aggress slight uptick in yield.

Ecobank Academy becomes the first corporate member of the Global Business School Network

Marking a seminal moment in the history of the organization, the Global Business School Network (GBSN) is excited to welcome Togo-based Ecobank Academy ( as its first corporate member.

UBA Group Announces Global Management Shakeup

...Appoints Six New Country CEOs in Africa, International and Senior Group Roles

United Bank for Africa Plc (UBA), the leading pan-African financial services institution, announced the appointments of Rokia Hacko, Chioma Mang, Chinedu Obeta, Bode Aregbesola, Kingsley Ulinfun and Usman Isiaka as chief executive officers of six of its 20 subsidiaries across Africa, subject to regulatory approvals. The new CEOs will drive the Group’s strategy and activities in Mali, Uganda, Zambia, Senegal, Tanzania and Sierra Leone respectively.

Red Star Advocates For Nigerian Food Exports

Nigeria can become a world-class exporter of fresh farm produce if the export mechanism at the ports is completely overhauled. Speaking in an exclusive business session in Lagos, the Group Managing Director of Red Star Express Plc, Dr. Sola Obabori, noted that popular Nigerian foods such as yams and garri can be profitably exported to Europe and America if the hindrances and multiplicity of regulators at the ports can be removed. According to him, this will not only boost Nigeria’s revenue base but would also give global acclaim to those foods. 

Sunday 26 July 2020

Emirates SkyCargo reconnects Nigeria to international trade lanes in 3 months

Emirates SkyCargo is helping commerce and industry get back on track as it reconnects cities to international trade. As manufacturing and other economic activities gradually return, Emirates SkyCargo is poised to continue to provide this essential connection.

C&I Leasing declares highest dividend in its history, guarantees continuous success at 29th AGM

C&I Leasing Plc (C&I Leasing), Nigeria’s foremost leasing and business support services company has declared a dividend payout of N278,350,500 at 20k per ordinary share of 50k each (payable less withholding tax), making it the highest in the last 22 years of dividend payment.

Thursday 23 July 2020

Nigeria’s VFD Targets 2022 Financial Services IPO, says CEO

VFD Group Plc, a proprietary investor in financial services companies, is targeting a 2022 initial public offering on the Nigerian stock exchange, CEO Nonso Okpala tells The Africa Report.

Life Under COVID-19 for China and Africa - FBNQuest

The main talking point about Sino-African relations in the COVID-19 experience has been the extent to which China will take part in the G20 initiative to defer sovereign debt repayments. This came up in a webinar on ‘China-Africa Policy in the Age of COVID: A New Normal?’ but more revealing was the discussion on the direction of Chinese investment. The event was organized by a prominent London-based business platform for the continent.

Ellen Johnson Sirleaf charges African Leaders on Growth and Sustainability at Hogan Lovells Seventh Africa Forum

International law firm Hogan Lovells hosted its seventh annual Africa Forum recently, with Her Excellency Ellen Johnson Sirleaf, First Female President of Liberia and Nobel Peace Laureate, featuring as a keynote speaker to an online audience of business leaders.

Wednesday 22 July 2020

Standard Chartered appoints Olukorede Adenowo as Executive Director, Standard Chartered Bank Nigeria

Standard Chartered Nigeria has announced the appointment of Olukorede Adenowo as Executive Director of Standard Chartered Bank Nigeria.

OVH Energy Concludes First Phase of COVID-19 Intervention in Nigeria

OVH Energy Marketing, a licensee of the Oando retail brand, has wrapped up the first phase of its support for the Federal Government’s efforts at combating COVID-19 in Nigeria. The company’s intervention includes various donations such as N50 million towards NNPC’s collective intervention funds made through Major Oil Marketers Association of Nigeria (MOMAN), supply of test kits and the sum of N200 million as part of its Corporate Social Responsibility (CSR) efforts for the treatment of COVID-19 patients, donation of palliatives to host communities in Apapa, Onne, Ogu and Kaduna to help cushion the negative effects of COVID-19.

Elizabeth Rogo Appointed as Non-Executive Director on Kenya Power's Board

Eng. Elizabeth Rogo, Founder & CEO of TSAVO Oilfield Services and President for East Africa at the African Energy Chamber has been appointed Non-Executive Director on the Board of Kenya Power and Lighting Plc, Kenya’s state utility company.

Radisson Hotel Group announces six new hotels in Africa

Radisson Hotel Group has announced the addition of six new hotels to its African portfolio, bringing the total to almost 100 hotels across 32 African markets.

Tuesday 21 July 2020

African Development Bank set to join landmark $20 billion Mozambique LNG financing

The African Development Bank has concluded its bid to co-finance the construction of Mozambique's integrated Liquefied Natural Gas (LNG) plant by signing a senior loan of $400 million for the transformational project.

Nyimpini Mabunda Appointed CEO for General Electric in Southern Africa

Nyimpini will lead GE’s growth in the region and drive alignment across its Power, Healthcare, Aviation and Renewable Energy businesses; An accomplished business leader with a career spanning 23 years.

ONE, MTV Base, Mandela Foundation pair up with 10 African Artists in Song to Fight COVID-19

Ten of Africa's biggest musical artists are uniting to record "Stand Together", a rallying call to all Africans to unite against COVID-19. With artists from seven African countries, the song is a powerful reminder that no one is safe from COVID-19 until everyone is protected from the disease.

Amber Energy Drink excites Lagos Commuters with Free Bus Ride

Commuting in Lagos state can be hellish and sometimes nightmarish for residents with the ever increasing population on a daily basis. Most traumatic is the fact that easy access to transportation has become a daily dilemma for commuters in the metropolis which is the commercial capital of Nigeria.

Indomie Fan Club ‘Bright Minds’ App Debuts on Google Play Store

Indomie Fan Club, the largest children fan club in Nigeria created by Dufil Prima Foods Plc, makers of Indomie Instant Noodles have launched a new child-centered educational app called Indomie Fan Club (IFC) Bright Minds app for its teeming members on Google Play Store.

Friday 17 July 2020

Cleanagent, digital marketplace for dry-cleaning, laundry services berths in Nigeria

To mitigate the hassles associated with dry-cleaning and laundry services within the Nigerian market, Cleanagent, a cleaning service technology company launched an innovative online marketplace for dry-cleaning and laundry services, specifically designed for the Nigerian consumers in Lagos Nigeria.

Stanbic IBTC Unveils Upgraded Mobile App With Exciting Features

Nigeria’s leading end-to-end financial services provider, 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.

Alumni Association of Lagos State Polytechnic Donates 1000 Face Masks to its Alma Mater

The Lagos State Polytechnic Alumni Association donated 1000 face masks to the Polytechnic to further help the institution flatten the curve of the dreadful Corona Virus pandemic.

Thursday 16 July 2020

Five-Star Recruit Jonathan Kuminga signs with NBA G League

Forward Jonathan Kuminga, a top high school basketball recruit, has signed to play in the NBA G League next season, it was announced today by NBA G League President Shareef Abdur-Rahim.  Kuminga is ranked by ESPN as the No. 4 player in the nation and the top player in New Jersey in the Class of 2020.

GTBank Named in Euromoney Excellence in Leadership Awards for Covid-19 Response

...Wins Award for Nigeria’s Best Bank for a record 10th time

Guaranty Trust Bank Plc has been awarded the Euromoney Excellence in Leadership Africa Award, a premier award category set up to recognize banks around the world who are playing a pivotal role during the Covid-19 pandemic. The foremost African financial institution, which was also named Nigeria’s Best Bank for a record 10th time, was lauded for its swift reaction in responding to the Covid-19 crisis and for addressing the impact of the pandemic on its customers and communities.

‘Switchboard’ unveiled to deepen Insurance access, penetration

A new portal has been unveiled to increase access to insurance service, broaden coverage, ease brokerage and enhance interaction between the market and the insurers.

Yewande Adewusi Named New BBC Global News' Regional Director for Africa

BBC Global News has appointed Yewande Adewusi as the new Regional Director for Africa.

Yewande has been the commercial representative for BBC Global News in West Africa since 2016, focusing on rejuvenating the West African marketplace and driving key commercial partnerships in the region. Based in Lagos, in her new role, Yewande will have overall revenue responsibility for growing the commercial opportunities for BBC World News, and BBC World Service.

MTN launches first e-SIM in West Africa

MTN has introduced the first mobile telecoms operator to introduce the eSIM service in Nigeria and indeed West Africa.

Uber acquires public-transit software company Routematch

Uber Technologies Inc has announced the acquisition of transit software provider Routematch, marking the ride-hailing company’s latest move toward expanding its business with public transportation agencies.

Nobel Laureate Ellen Johnson Sirleaf to give keynote address at Hogan Lovells 7th Africa Forum

Global law firm Hogan Lovells is honoured to announce that Nobel Peace Prize Winner and former Liberian president, Ellen Johnson Sirleaf, will be part of their line-up of prestigious panellists and speakers at the seventh annual Hogan Lovells Africa Forum. This highly anticipated event, which will be held virtually on Monday 20 July, will delve deep into business critical dialogues surrounding Africa's growth and sustainability.

Wednesday 15 July 2020

Syinix Unveils the First Android TV in Kenya with Size 8 Reborn

Syinix will be launching its first Android TV in Kenya at 10.30 pm, 15th July 2020. The Launch will be on NTV and Startimes Kenya and hosted by Size 8 Reborn. With the launch, Syinix will explain to customers in detail what the Syinix A20 series has to offer.

IFMA Nigeria Applauds Federal Government’s Handover of National Theatre

The International Facility Management Association, Nigeria Chapter, has lauded the Federal Government’s initiative of handing over the National Theatre, Iganmu, Lagos to the Central Bank of Nigeria (CBN) and the Banker’s Committee. The symbolic event which happened on Sunday, July 12 2020, is not only commendable but equally a step in the right direction.  This was said by the Acting President of the Association, Mr Segun Adebayo.

SAP names Claudio Muruzabal Regional President of EMEA South

SAP has appointed Claudio Muruzabal as the new President for SAP's EMEA south region that comprises Southern Europe, the Middle East and Africa. Muruzabal replaces Steve Tzikakis who is leaving SAP to pursue a leadership opportunity outside of the company.

Ecobank Group named Africa’s Best Bank for Corporate Responsibility by Euromoney

The leading pan-African banking group, Ecobank has won the coveted prize of Africa’s Best Bank for Corporate Responsibility in the Euromoney Awards for Excellence 2020. Euromoney recognises Ecobank’s focus on sustainability and partnerships and its core capabilities in delivering positive social and environmental outcomes across Africa.

CBN Orders banks to collect Loan Defaulters Funds across Banks

The Central Bank of Nigeria (CBN) has moved a step ahead of bank loan defaulters with a new guideline that allows seizing of their funds in other accounts.

Gokada Founder, Fahim Saleh murdered in New York apartment

The founder of the motorcycle-sharing platform, Gokada, Fahim Saleh, is dead.

He body was found Tuesday afternoon decapitated in his Manhattan apartment in the U.S., the New York Daily News reported.

Tuesday 14 July 2020

12 African Leaders selected to join Facebook Community Accelerator Programme

As part of its focus in bringing people together and building communities, Facebook on Tuesday, July 14, 2020 announced the 12 African community leaders who have been selected to join Facebook's Community Accelerator, a six-month programme that aims to equip communities with the training, mentorship, and funding they need to grow.

Monday 13 July 2020

Ecobank Group appoints Alain Nkontchou as Chairman

The leading pan-African banking group, Ecobank has announced the appointment of Mr Alain Nkontchou, a Cameroonian and Independent Non-Executive Director since 2015, as Board Chairman of its holding company, Ecobank Transnational Incorporated (ETI), with effect from 30 June 2020.

Electric Power Industry Needs Urgent Transformation, Huawei's New ICT Empowers Smart Grids

Today marked the Seventh Huawei Global Power Summit themed "Bits Drive Watts, Building a Fully Connected Smart Grid". Held online, the summit invited global customers, partners, industry experts, and thought leaders in the electric power industry to discuss the impact and response to this year's pandemic, and political and economic uncertainties.

AfDB Appoints Dr. Rabah Arezki as Chief Economist and Vice President, Economic Governance and Knowledge Management

The African Development Bank Group (AfDB) has announced the appointment of Dr Rabah Arezki as Chief Economist and Vice President, Economic Governance and Knowledge Management, effective 1st October 2020.

LASUTH Partners EAPAN to Holds Psychosocial Support Webinar With Staff

The Coronavirus pandemic, in the last few months since it hit the shores of Nigeria, has been bravely fought by the medical profession in the country.  The bravery and resilience of health workers, most especially the frontline personnel, has put them at great risk as many have tested positive. Worsestill, some have been isolated.

Sunday 12 July 2020

Nigeria Rugby Football Federation partners Rugby Outreach UK to provide fitness advice in Nigeria

Nigeria Rugby has announced its partnership with Rugby Outreach UK to provide Rugby fitness, strength and conditioning advice to local teams across Nigeria.

Education Minister Calls for Public-Private Sector Partnership for Schools Adoption

The Minister of State for Education Hon. Chukwuemeka Nwajiuba has called on key players in the education sector to support the federal government in its efforts at moving the education sector forward.

SEPLAT appoints Onwuka as CFO, ED

The Board of Directors of Seplat Petroleum Development Company Plc has announced the appointment of Mr Emeka Onwuka as its Chief Financial Officer (CFO) and Executive Director of the Company. The appointment takes effect from August 1, 2020.