Connect with us

Business

Dangote Foods Fetes 77 Distributors, Promises Better Days

Published

on

Dangote Foods, comprising Dangote Flour Mills, Dangote Sugar Refinery and NASCON Allied Industries, has rewarded hundreds of its customers and 77 major distributors from across the country with financial rewards among others. At the 2018 Dangote Customers Celebration and Food Distributors’ Award Night organised by the company, Monday night, in Lagos, Dangote Foods doled out millions of naira in addition to all expenses paid trips to Dubai in appreciation of their faithful patronage for year 2018. During the event, 54 winners emerged from the geopolitical zones while the balance was in the other and national categories. Alhaji Ali Balarabe  of Balarabe & Sons emerged the overall best performing customer in the national category for the second consecutive time. In her welcome address, Chairman of NASCON Allied Industries, Mrs. Yemisi Ayeni, who described the customers as “the most important part of our business,” said the recognition of this symbiotic partnership formed the theme of the award ceremony, Better. Stronger. Together. She said the event was to honour the customers who made it possible for Dangote Food products to be the preferred choice in all households. She said: “Your continuous patronage over the years demonstrates your confidence in our product range; sugar, flour and salt. You have helped to create awareness for Dangote Foods products across the six geopolitical regions. This has led to increased consumption of our products in the regions.” President/CE, Dangote Industries Limited, Aliko Dangote, in his remarks, said the awards were to appreciate customers and distributors who through their dogged and persistent efforts had made Dangote Foods products a household name in Nigeria.   He said: “You are all aware that we are celebrating 2018 against all odds. Our food businesses recorded mixed results in the year with NASCON growing while Dangote Sugar Refinery and Dangote Flour Mill had a very difficult year. “Fluctuations in performance are known to occur in the life of businesses but the greater part is that you persevered with us. My special commendation goes to Dangote Sugar and Pasta customers who, despite the price challenges posed by influx of unlicensed and substandard grey imports stood by us. “We have remained the dominant brand in most of the sectors where we play in the food sector, and we are delighted to have you as our partners through thick and thin,” he said. He disclosed that the company invested massively in the sugar sector across the country in line with its Backward Integration Project targeted at the production of 1.5 million metric tonnes per annum of refined sugar in the next 10 years. Dangote said the challenges would soon become history as investment in the sugar sector would soon create between 75,000 to 150,000 jobs, price reductions and improved profits to customers. He commended the customers for enduring the Apapa gridlock that caused delay to product delivery and increased cost to business. “To reduce the traffic gridlock, we invested significantly in the Apapa road reconstruction project and the completion in 2019 should bring massive relief to our three food companies as well as our competitors operating from the axis,” he said.  He recalled that in 2018, he disclosed plans for new investments in NASCON Allied Industries aimed at boosting efficiency and better returns.”Today, NASCON, after a strong 2018, has continued to roll out several culinary innovations such as curry, stew mix, soup mix and different seasoning flavors to satisfy consumer demands,” he said. The industrialist noted that Dangote Flour Mills had a four-prong strategy – expanding capacity, innovating to attract more user groups, upgrading capabilities and enhancing product portfolio. Dangote said that the company’s goal for 2019 was to continue to delight its customers, bakers, confectioners and consumers all over the country, saying it would result in stronger growth and sustenance of all its business units. He said that the company’s investments which include the $12 billion Ibeju-Lekki refinery& fertilizer projects would address Nigeria’s agriculture and energy needs. In his appreciation remarks, Alhaji Ali Balarabe of Balarabe & Sons, the overall best performing customer in the national category thanked God for an excellent year in which he emerged tops for the second consecutive time as the top distributor. He also thanked Dangote for the long years of maintaining the cordial relationship between the two companies. He stated that a lot of young people are venturing into the food distribution business with Dangote Foods which he described as a welcome development as it would the number of jobless youths roaming the streets. He tasked the youths not to relent but put in more efforts as no gain comes ease.

 

Continue Reading
Click to comment

Leave a Reply

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

Business

Access Holdings Vests 23.8 million Units of Shares on Senior Executives

Published

on

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.

Continue Reading

Business

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

Published

on

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.  

Continue Reading

Business

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

Published

on

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.

Continue Reading

Trending

Copyright © 2021 All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from August24news.com
This Website is designed and Managed by: August 24 Communications Nigerian Limited (RC: 798585)