Tuesday 09 June 2020
BUSINESS DAY
COMPANIES & MARKETS
21
COMPANY NEWS ANALYSIS INSIGHT
CWG begins Online Academy Session across Nigeria MODESTUS ANAESORONYE
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he training and capacity building arm of CWG Plc, CWG Academy has started a six-week online session this June with registered students across Nigeria after orientation programme. The online training is occasioned by the Covid-19 pandemic, which has forced many countries, including Nigeria, to declare a lockdown of activities with the closure of schools and many people working from home. This birthed ‘CWG Online Academy’ is an initiative of the CEO, Adewale Adeyipo. The online Academy session is to be coordinated by Oghenetega Ogbeni, a Business Development manager. She stated that though the world is on recess due to the pandemic, this should not halt the impartation of the needed knowledge and technical know-how to the youths of Nigeria. “CWG’s top management team, the Chief Information Officer and I decided to leverage on tech-
nology to connect students around the country”, she said. The session began with an orientation programme students watching and listening to experts speak various aspects of Information and Communications Technology and what it takes to work
inner a conglomerate such as CWG Plc and becoming a successful entrepreneur from the comfort of their homes on. The coordinator of the orientation programme, Marcel Odiboh, chief information officer at CWG Plc, encouraged the students to
stay focused, stressing that the Academy aims to provide them with best of knowledge to help build and shape them as future leaders in the ICT sector. “You are encouraged to remain as focused as you can. Our interest in you as a
L-R: Funmi Ayoola, Lagos Team Lead, Dagomo Foundation; Joy Egolum, Corporate Affairs Manager(Lagos & HQ), Nigerian Breweries Plc; Ibrahim Lukman, beneficiary; Okocha Success, another beneficiary; Utibe-Abasi Utuk, Lagos Brewery Manager, Nigerian Breweries Plc and Anulika Akuagbazie, Head Brewer, Lagos Brewery, Nigerian Breweries Plc during the donation of drinks and food items to the elderly through the Dagomo Foundation by Nigerian Breweries Plc in Lagos today.
Bua cement Q1 profit grows 14% AOPN urges FG to make outsourcing despite slowdown in economic a strategic tool for job creation GBEMI FAMINU
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UA cement, one of the key players in Nigeria’s cement market has recorded a growth in its profit margin despite economic disorder affecting productive and commercial activities. In its recently released financial report for the first quarter of 2020, the cement giant recorded a gross profit of N24 billion representing an increase of 14.2 percent from the N21 billion recorded in the corresponding period of 2019. Similarly, the firm’s profit before tax grew by 17.6 percent to N20 billion from the N17 billion realized in the 2019, while its profit after tax stood at N19 billion representing an increase of 26.6 percent from the N15 billion realized in the previous year. The firm’s other income grew by 100 percent to N2.2 billion from N1.5 billion recorded in 2019, this increase stemmed majorly from its haulage income on goods delivery. However, the firm’s energy cost increased by 24.7 percent to N10.6 billion, its raw materials sourcing cost N11 billion while it spent N4.8 billion on fuel
company is to provide you with the major skills needed to have a thriving career in the ICT sector,” he said. One of the facilitators, Tereigh Banks, Ozakpo, head, Digital Financial Platforms, (BillsnPay & Vericash) at CWG while speaking, assured
Since the entry of BUA into Nigeria’s cement market, the industry has experienced significant expansion. Less than six months after commissioning its 1.5million metric tonnes per annum Kalambaina Cement Plant in Sokoto State, BUA has Cement completed its newest Obu plant in Edo State, which has a capacity to churn out three million MT annually of cement annually. This brings the total capacity of BUA Obu cement operations to six million tonnes and move the entire group’s installed capacity to eight million MT per annum. BUA Cement plc is a business combination of CCNN Plc (Sokoto Cement) and BUA Cement Manufacturing Company’s Obu Cement Company, which was completed in January 2020 and is currently listed on the Nigerian Stock Exchange (NSE), with a market capitalisation of N1.18 trillion ($3.3 billion), making it the third most capitalised company on the floor of the Nigerian bourse as well as the second largest producer of building material. At the close of trading activities on Monday, the company stock price’s stood at N41 per share.
JOSEPHINE OKOJIE
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he Association of Outsourcing Professionals of Nigeria (AOPN) has urged the Federal Government to make outsourcing a strategic tool for job creation by strengthening and positioning the industry for economic growth. In a statement made available to BusinessDay, AOPN says outsourcing is an integral part of services export and offers significant opportunities with the aim of creating jobs, earning FX, enhancing competitiveness, and stimulating economic growth among others. “Outsourcing is an enabler for economic growth. Capabilities in outsourcing and positioning as an outsourcing destination create a significant surge in job creation and by extension, wealth creation,” said Madu Obiora, president, AOPN in the statement. “This administration has job creation as one of her cardinal points and we believe that strengthening the outsourcing sector will go a long way in this direction,” Obiora said. He noted that India and the Philippines have recorded immense success in creating jobs for their citizenry through their outsourcing industry owing to the critical role played by the
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various governments in ensuring that outsourcing thrives. He says it is therefore critical for government agencies with oversight function for the outsourcing sector to champion the cause for Job creation through the promotion and standardisation and regulation of the industry in the country. He added that the standardisation and regulation of the country’s outsourcing sector is imperative for economic growth and international recognition. According to him, the global business process outsourcing and contact centre industry currently employ close to 12 million people and nearly 88percent of them are aged between 19 –36 years. Data from the National Bureau of Statistics (NBS) states that about 1.8 million youth enters the Nigerian labour market yearly. “In addition to the detrimental effects on the nation’s economy, unemployment and poverty are the primary causes of addiction and substance abuse by teenagers and young adults in Nigeria,” he said. “A reduced unemployment rate will bring about improved human development and reduce poverty. It will also reduce crime and insecurity and attract foreign investment into the country,” he further said.
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the students that apart from giving them book knowledge, the students are also expected to gain hands-on skills in the areas of software, hardware, project management and basic knowledge of ATM and PoS.: “You can be assured of learning the skills required to succeed in the ICT ecosystem and compete favourably among your peers globally,” he assured. Meanwhile, Mr. Emmanuel Effiong, training manager at the Academy, while also speaking to the students, disclosed that the online resumption is not quite different from the conventional classroom. He added that the Academy is one of the many ways CWG contributes her quota to Nation a building by helping to tackle the Nigerian unemployment quagmire. “What we do here is to create the know-how and confidence needed to be the next set of Tech-leaders in Nigeria as we believe doing this will continue to create jobs for other Nigerians, riding on technology,” he said.:
DHL moves to grow e-commerce footprint in Africa MIKE OCHONMA
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HL Express has acquired a minority stake in Link Commerce; the UK-based e-commerce firm that helped the logistics company develop its DHL Africa eShop platform. The acquisition company demonstrates the company’s commitment to growing ecommerce in Africa. Hennie Heymans, DHL Express sub-Saharan Africa CEO said,“Acquiring a stake in Link Commerce, the company behind the MallforAfrica.com platform, positions us to realise our ambitions of growing the eShop offering globally, and to work on the scalability of the platform when the opportunity arises.” He said the new strategy will help DHL expand its white-label turnkey B2B e-commerce platform and provide online shoppers with the ability to shop more and get more at great shipping rates, fast. Just more than one year on from its initial launch, the DHL Africa eShop continues to see “massive growth in sub-Saharan Africa”. He says the DHL Africa eShop has consistently outper@Businessdayng
formed expectations since its launch. The platform was developed in partnership with Link Commerce and initially launched in 11 African countries in April, 2019.It was an immediate success, gaining around 5 000 subscribers within the first six weeks. “Today, DHL Africa eShop is live in 34 countries across sub-Saharan Africa with tens of thousands of users across the continent and enables African customers to shop directly from over 200 US- and UK-based online retailers, with purchases delivered directly to their door, by DHL Express,” explains Heymans. The DHL Africa e-Shop offers African consumers access to international retailers. “Online buying behaviours and product mixes have evolved quite significantly since the onset of Covid-19,” he adds. “Some of the most popular items on the platform now include productivity and communications devices to support remote working, home and kitchen appliances, entertainment gadgets and health-related products, in addition to the historic orders of fashion and beauty products.