Business

CFM Launches Novel Initiative to Boost Women’s Economic Participatory Roles

Published

3 years ago

September 23, 2021

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CFM Launches Novel Initiative to Boost Women’s Economic Participatory Roles

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

In a bid to accelerate women’s contribution to the economy, Crown Flour Mill (CFM) Limited, makers of the popular Mama Gold flour, has launched a gender upskilling initiative tagged ‘Crown Flour Angels’ (CFA).

The initiative was launched recently to help more Nigerian women acquire baking skills or improve on their current baking skillset while strengthening their capacity to build successful baking businessed and become successful entrepreneurs.

CFA hosted the inaugural edition of its 3-day accelerated bakers’ training in Lagos recently. The training was facilitated by Omolara Ikpen, International Cake Exploration Societé (ICES); President, Afoke Osubor, Cake and Fruit Expert, amongst other subject matter experts that made up the capacity building faculty.

Understandably, the segment targeted for the capacity building initiative is the cake baking segment. The global cake market size, valued at US$42.94 billion in 2019, is expected to reach US$55.7 billion by 2027, growing at a 3.77 percent compound annual growth rate (CAGR) over the period.

This impressive annual growth trajectory is an attractive proposition for entrepreneurial young women searching for a lucrative market amid tough global and national economic events.

The CFM upskilling initiative in the cake baking segment, therefore, provides a path for women in the country to achieve their entrepreneurial dreams while staking a claim to scaled economic participatory roles.

Speaking about the capacity-building initiative, Ashish Pande, the Managing Director of Crown Flour Mill Limited, said, “Given that women constitute approximately half of the nation’s population and are the backbone of the family which is the bedrock and the foundation of the society, implementing a capacity development initiative in the lucrative cake baking segment will help us make a significant positive impact among that demographic.”

He explained that the number of capacity-building initiatives in the bakery industry targeted specifically at the female gender are inadequate, hence the rationale behind CFM’s decision to change the narrative by introducing CFA, which focuses on deepening the capacity of the female bakers.

He said that the initiative would reinvigorate the women community as well as raise the standards of living across households as women have the potential to contribute more to homes.

Elaborating on the women capacity-building effort, Olayinka Yusuf, Head of Crown Flour Mill Baking School, cited that the tactics deployed by CFA are aimed at ensuring that the upskilling initiative achieves the targeted impact.

He said, “Skill improvement is an essential part of any wider entrepreneurial development plan. As part of a bold execution plan that is being put in place to ensure seamless execution of the Crown Flour Angels campaign, we will concentrate on addressing baking-related issues via webinars that will feature well respected experts periodically.”

“About 50 women benefitted from the inaugural training exercise and were awarded certificates at the end of the training exercise,” he said.

This new initiative of free cake baking training for female cake bakers at the Crown Flour Baking Academy is yet another timely intervention by CFM to economically empower Nigerian women. It also marks the beginning of what it believes will be a new and exciting journey and trusts that this altruistic initiative will be impactful for female bakers across Nigeria.

Only recently, CFM donated irrigation equipment to some women wheat farmers in Kano State to help deepen the productivity levels of these farmers and as part of its value chain developmental efforts. Crown Flour Angels Image

It would be recalled that CFM, in consultation with bakers, has been working tirelessly to close the skills and knowledge gap in the bakery industry to ensure the industry continues to play the crucial role of supporting Nigeria’s nutritional needs. While it has set up various baking schools across the country, the Crown Flour Angels initiative is another innovative approach to addressing the unemployment and socio-economic challenges of the nation.

Business

Access Holdings Vests 23.8 million Units of Shares on Senior Executives

Published

3 days ago

May 8, 2024

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AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

In line with the disclosure requirements of the Securities and Exchange Commission and the Nigerian Exchange Limited, Access Holdings Plc , Africa’s leading financial services group, has announced the award of 23.8 million ordinary shares to some of its senior executives and executives of Access Bank, its flagship subsidiary.

This is in pursuant of the terms of its shareholders approved Employees Performance Share Plan.

Bolaji Agbede, the Acting Group Chief Executive Officer of Access Holdings, Roosevelt Ogbonna, the Managing Director/Chief Executive Officer of Access Bank, and six others were vested with 23,883,790 units of the Group’s shares, worth a combined N427.13 million.

This was disclosed via notices duly filed with the Nigerian Exchange Limited on Tuesday.

According to the filings, Ogbonna got the highest amount of shares totalling 12,345,679 units and worth N220.37 million, having been traded at N17.85 per share.

Agbede was vested with 2,216,992 units of shares, valued at N39.795 million.

Other directors, who had shares vested include Seyi Kumapayi, Executive Director, African Subsidiaries, Access Bank, with 1,234,568 worth N22.16 million; Iyabo Soji-Okusanya, Executive Director, Commercial and Investment Banking Division, Access Bank, with 1,691,308 at N17.95 per share.

Her vested shares are valued at N30.36 million, and Chizoma Okoli, Access Bank’s Deputy Managing Director, Retail South, who got 1,728,395 units valued at N30.85 million.

Dr Gregory Jobome, Executive Director, Risk Management, and Hadiza Ambursa, Executive Director, Commercial Banking, were each vested with 1,728,395 valued at N30.85 and N31.02m respectively.

Access Holdings’ Company Secretary, Sunday Ekwochi, was vested with 1,210,058 units of the Group’s shares worth N21.72m.

The shares were vested on May 3rd and May 6th.

The vesting of the shares is not a purchase or sale transaction in the context of the Exchange’s Rules.

Business

Owen Omogiafo, Transcorp Group President Makes MIPAD’s Global Top 100 List, As Company Posts Impressive Q1 Results

Published

4 days ago

May 7, 2024

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AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Dr. Owen D. Omogiafo, OON President/GCEO of Transcorp Group, has been recognized as one of the most influential people of African descent (MIPAD)’s Global Top 100 Futurist & Innovators List.

The list recognises individuals who have made remarkable contributions to shaping the future and pioneering innovative solutions within their respective fields.

The announcement of the recognition comes as Transnational Corporation Plc (Transcorp Group) released its Q1 2024 results, which showed impressive growth on all indices. Profit before tax (PBT) grew year-on-year (YoY) by 1,475 percent to N45.7 billion in the first quarter of 2024 (Q1’24) from N2.9 billion in the corresponding period of 2023.

The company also reported a 173 percent YoY growth in revenue to N88.6 billion in Q1’24 from N32.4 billion in Q1’ 23.

The Company’s continuous growth and impressive results year after year are testament to Omogiafo’s visionary leadership.

Transcorp Group has experienced significant growth and expansion under Omogiafo’s leadership having taken up leadership during a difficult time, as the world grappled with the COVID-19 pandemic.

However, she has led the Group and its subsidiaries, including Transcorp Power, Transafam Power and Transcorp Hotels Plc back to the path of exponential growth and profitability.

Transcorp Group’s shares ended 2023 as one of the best-performing stocks of the year. The impressive growth has continued in 2024.

Dr. Owen Omogiafo’s commitment to innovation, sustainability, and social responsibility has made a positive impact on the lives of millions of people across Africa, in line with Transcorp Group’s purpose of improving lives and transforming Africa.

The MIPAD recognition, is therefore, timely, as Omogiafo’s Transcorp releases another impressive result, reinforcing the Company’s position as a leading conglomerate in the country, and highlighting Owen Omogiafo’s transformational leadership.

The MIPAD recognition is a global initiative that identifies and celebrates outstanding individuals of African descent who are making a positive impact in their communities and the world at large. Dr. Omogiafo’s inclusion in this prestigious list is a well-deserved honour, acknowledging her tireless efforts to drive economic growth, social progress, and environmental sustainability in Africa.

The Transcorp President has been recognised by many local and international bodies for her contributions to Nigeria and Africa’s socio-economic growth, including a national award which was bestowed on her by the Federal Government of Nigeria last year.

Business

Union Bank Achieves Another Milestone; Attains MSECB ISO 27001:2022, 20000-1:2018 and 22301 Certifications

Published

5 days ago

May 6, 2024

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AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Union Bank, one of Nigeria’s foremost and most trusted financial institutions, has announced another significant achievement with its attainment of the MSECB management system certifications in ISO/IEC 27001:2022, ISO 22301:2019, and ISO/IEC 20000-1:2018.

The Bank was awarded these three noteworthy certifications by MSECB, a leading international provider of audit and certification services, after being rigorously assessed and found to be in accordance with the management system requirements covering Information Security, IT Service Delivery, and Business Continuity standards under the combined Information Management Systems (IMS) standards.

The information security management systems ISO/IEC 27001:2022, ISO 22301:2019, and ISO/IEC 20000-1:2018 are internationally recognised standards that outline the requirements for establishing an effective information management system that guides against data breaches, IT system compromises, and disruption to business processes.

These latest certifications will enable the bank to continue to offer its customers improved data security, innovative banking solutions, and seamless service delivery through its state-of-the-art banking network.

Commenting on the Bank’s recent attainment, Chief Information Security Officer at Union Bank, Francis Mojoyinlola, said: “The Bank’s continued adherence to best international practices, as acknowledged by an independent third-party audit from a reputable international certification firm, reaffirms our capacity to erect, implement, and maintain best information and security management practices.

We remain committed to offering our esteemed customers simpler, more innovative services rooted in the highest standards of information security and cutting-edge innovative banking service.”

MSECB Management System Incorporated, or simply MSECB, is a reputable international organisation specialising in the certification of management systems based on a wide range of global standards.

They offer audit and certification services and expertise in multiple fields, including, but not limited to, Information Security, Quality Management, Business Continuity, and Service Management. They help guide, evaluate, and issue various organisations’ certifications against internationally recognised standards.

Their mission is to provide their clients with comprehensive services that inspire trust and demonstrate recognition.

This recent achievement by Union Bank follows the bank’s recertification of Payment Card Industry Data Security Standard (PCI DSS) version 3.2 and the International Organisation for Standardisation ISO/IEC 27001:2013 certification attained in 2018.

This further highlights Union Bank’s commitment to the strictest information management security standards while securing its pride of place as one of Nigeria’s most trusted financial institutions.

Established in 1917 and listed on the Nigerian Stock Exchange in 1971, Union Bank of Nigeria Plc. is a household name and one of Nigeria’s long-standing and most respected financial institutions.

The Bank is a trusted and recognisable brand, with an extensive network of over 300 branches across Nigeria.

The Bank currently offers a variety of banking services to both individual and corporate clients including current, savings and deposit account services, funds transfer, foreign currency domiciliation, loans, overdrafts, equipment leasing and trade finance.

The Bank also offers its customers convenient electronic banking channels and products, including Online Banking, Mobile Banking, Debit Cards, ATMs and POS Systems.