Business
President Buhari Hails CACOVID for Donating 350 Security Vehicles
…says Coalition made him proud over Covid-19 response
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&HAs the private sector-led Coalition Against Covid-19 (CACOVID) winds down, President Muhammadu Buhari has commended the initiative of private sector operators, saying the contributions he has received from the Coalition so far has elevated his status among other Presidents of the world.
The President, who spoke in Abuja yesterday while receiving a parting donation of N12 billion security equipment for the Military and the Nigeria Police from the leadership of CACOVID said his government had received so much support from the private sector in addressing social ills in the country.
Items handed over to the President by the Coalition members included 100 Tata 14 ton Troop carriers, 100 Tata 12 ton Troop carriers, 86 Toyota pick-up trucks, 64 Nissan Navara pick-up trucks with their spare parts, 13,000 helmets as well as 13,000 bullet proof vests.
It would be recalled that the World Health Organisation (WHO) had also rated CACOVID as the third largest contributor in the world to the fight against Covid-19 virus, the outbreak of which in 2020 brought the world to its knees.
An excited President Buhari while thanking the CACOVID on behalf of the Military and the Police said: “Today is indeed a very happy day for all Nigerians, and I can happily say that I am the envy of many Presidents in the world. I am exceedingly honoured to be the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, at this time.
“I am gratified to have the honour of leading a country whose private sector willingly galvanises itself to raise funds to enthusiastically support government in resolving social ills. I am proud to say that there is nowhere in the entire world, except in Nigeria, where the private sector has voluntarily come together to assist government efforts.
“Thank you for supporting our Administration’s efforts to strengthen the Police and Military as we face the security challenges that all modern nations face”, Buhari added, noting that such a patriotic gesture was proof that nationalistic determination is still alive in Nigeria, in the face of enormous challenges pervading the world and the country.
Speaking while handing over the items, Chairman of the Aliko Dangote Foundation (ADF), Aliko Dangote, a foremost industrialist who initiated the Coalition with the Group Managing Director of Access Bank Plc, Herbert Wigwe, explained that the Coalition was winding down with the latest donation.
He listed other business leaders brought together under CACOVID to include Mrs. Folorunsho Alakija, Tony Elumelu, Jim Ovia, Segun Agbaje, Abdulsamad Rabiu, Femi Otedola, Adesola Adedotun, Karl Toriola, Haresh Aswani, Raj Gupta, and John Coumantaros, all of who contributed several billions of Naira each and supported the CACOVID effort with advocacy. In all, according to him, over 100 organisations and private individuals contributed to CACOVID.
Mr. Dangote gave reason for the donation saying that as the worst of the Covid crisis waned in Nigeria, the security situation deteriorated, partly due to economic disruptions caused by the shutdown of the global and national economy.
Therefore, to provide additional response support to the Government, the ADF Chairman said CACOVID embarked on another fundraising effort, which enabled it to purchase the items for the Police and the Military.
Recalling the birth of CACOVID, Dangote explained that the Coalition as a timely response to the outbreak of the deadly covid-19 virus was borne out of the previous experience with Ebola elsewhere in West Africa, which made him to recognise the fact that the potential crisis looming was very serious
“And so together with Herbert Wigwe, we set up CACOVID and drafted our peers in the private sector to join our efforts. The CBN Governor joined our efforts very early and chaired the group. We knew straight away that we had a responsibility to act and support the efforts of Government as quickly as possible to avert disaster”, Dangote noted.
Dangote continued; “In addition to the leadership team, we set up a technical committee to guide our purchasing decisions, which was critical, given the prevailing confusion around testing and treatment options, and the lack of successful models anywhere in the world. Members of that committee included leading Nigerian scientists and public health professionals, the DG of NCDC, DG of the Presidential Task force on Covid-19, representatives of WHO, BMGF and the UN.
“In addition, a core team of select staff members from our organisations manned the initiative’s operations Centre 7 days a week for several months planning, coordinating, and delivering on the various activities of the coalition.”
While enumerating all the supports the Coalition has offered the nation in the last two years, Dangote disclosed that the group mobilised its members and raised N62 billion to provide 39 fully kitted isolation centers in all 36 States and FCT; Testing Supplies for almost 1 million tests; Food for 10 million vulnerable individuals across the country; Oxygen and tanks to the most affected states; Support for vaccines delivery and distribution across the Nation; Support to re-open the economy (Travel Portal, IT, airport scanners/PPE and other support) with communications and advocacy campaigns around prevention and against disinformation.
According to Dangote, the donation marks the end of the CACOVID initiative “as we wind down what has been deemed an example of patriotism, solidarity and efficiency in terms of partnership between the public and private sectors. This is a lesson in the power of collaboration for a worthy cause.
“Thank you to my partners on this CACOVID journey. I would like to especially thank the Presidential Covid-19 team led by SGF Mr. Boss Mustapha for their excellent collaboration. My gratitude goes to Mr. President for your unwavering support and that of your entire Government.”
Also speaking on the activities of CACOVID, Mr. Godwin Emefiele, Central Bank Governor, who led the CACOVID Committee told the President he was proud to be part of the Coalition that supported government in its fight against insecurity.
“I am immensely gratified by what CACOVID has achieved in its few years of existence. The nationalist and patriotic drive of my colleagues therein is unmatched anywhere in the world and must be applauded. The Coalition is a good example of what Nigeria must become: a nation of patriotic solidarity of individuals and corporations, and effective collaboration of the public and private sectors,” he said.
Business
UBA Champions Youth Empowerment through Graduate Programme, Employs 398 Across Africa.
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
African’s Global Bank, United Bank for Africa (UBA), held the second edition of its expanded Graduate Management Acceleration Programme (GMAP) class of 2024, where 398 young Africans were inducted into the UBA Tribe after a rigorous six-month hands-on-work and learning experience.
The event, which was held in a grand ceremony in Eko Hotel, Lagos on Thursday, was graced by esteemed guests, the UBA management, faculty members, mentors, and the graduating cla
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
Africa’s Global Bank, United Bank for Africa (UBA), held the second edition of its expanded Graduate Management Acceleration Programme (GMAP) class of 2024, where 398 young Africans were inducted into the UBA Tribe after a rigorous six-month hands-on-work and learning experience.
The event, which was held in a grand ceremony in Eko Hotel, Lagos on Thursday, was graced by esteemed guests, the UBA management, faculty members, mentors, and the graduating class.
The graduands are from six African countries, including Nigeria, Ghana, Cameroun, Kenya, Tanzania and Zambia.
Addressing the gathering, UBA’s Group Chairman, Tony Elumelu, who congratulated all the graduates, expressed profound pride and admiration for their success having completed the intense capacity-building programme, combining learning with on-the-job training experience, garnered while rotating across several departments and units in the bank.
Elumelu took time to highlight the bank’s passion for youth empowerment in Africa, while bridging the unemployment gap, which according to him, remains one of the greatest challenges of the continent.
“For me these young UBA Graduates are a testament to who we are: a truly pan-African Group, that invests in African talent.This milestone is more than just numbers. It signifies UBA’s commitment to youth empowerment. Unemployment is the greatest challenge we face – a tragic and cruel betrayal of a generation. We know governments alone cannot create all the jobs we need – so it is up to us, the African private sector, to partner our government in improving lives and livelihoods. This is Africapitalism, and it is gratifying to see UBA play its part. UBA is dedicated to creating a positive impact, through the GMAP programme UBA is creating employment, boosting economic growth, and transforming lives across Africa,” Group Chairman said.
Continuing, he said, “At UBA, identifying these young ones, bringing them to the centre, training them, equipping them for the future and the task ahead, not just for a career in UBA, but wherever they end up remains our passion, because this is how we play our role as a Pan-African bank, in helping to empower the next generation, which is the African youth. We are helping to create employment and this for us is our driving force.”
Earlier in his speech, UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, commended the graduating class for their unwavering commitment and emphasized the program’s role in cultivating the next generation of UBA leaders.
“Your dedication, resilience, and unwavering commitment have been nothing short of inspiring. Each of you has demonstrated the qualities of a true UBA ambassador, and today, we celebrate not just your achievements but also the collective strength of our UBA family.
While recognizing the invaluable support extended by families and friends, the GMD said, “Let us take a moment to express our deepest appreciation for their steadfast support as the invaluable support of your families and friends throughout this journey. Their love, encouragement, and understanding have undoubtedly played a pivotal role in your success.”
UBA’s Group Head, Human Resources, Modupe Akindele, said the bank remains committed to nurturing talent and leadership within the organisation. She noted that the GMAP programme, which marked its second graduation will be a continuous initiative, as it culminates an intensive journey towards leadership excellence.
“Already, the programme has graduated over 1,100 graduates, that is about 700 in 2023 and now we have 398 graduates. The fact remains that at UBA, we believe in equal opportunity for all, regardless of age, tribe, gender, or background; and so, we will continue to pursue our dream to nurture these young ones to their full potential,” she added.
United Bank for Africa Plc is a leading Pan-African financial institution, offering banking services to more than twenty-five million customers, across over 1,000 business offices and customer touch points, in 20 African countries and across 4 continents.
With presence in the United States of America, the United Kingdom and France and more recently the United Arab Emirates, UBA is connecting people and businesses across Africa through retail; commercial and corporate banking; innovative cross-border payments and remittances; trade finance and ancillary banking services.
Picture 1: l-r: Group Deputy Managing Director, Muyiwa Akinyemi; Group Head, Human Capital Management, Modupe Akindele; Group Managing Director/CEO, Oliver Alawuba; Group Chairman, Tony Elumelu; Group Head, Customer Experience, Michele Nwoga; Executive Directors, Ugo Nwaghodoh and Alex Alozie flanked by graduands of Graduate Management Accelerated Programme(GMAP) of United Bank for Africa(UBA), held in Lagos on Thursday
Picture 2: l-r: Group Deputy Managing Director, Muyiwa Akinyemi; Group Head, Human Capital Management, Modupe Akindele; Group Managing Director/CEO, Oliver Alawuba; Group Chairman, Tony Elumelu; Group Head, Customer Experience, Michele Nwoga; Executive Directors, Ugo Nwaghodoh and Alex Alozie flanked by graduands of Graduate Management Accelerated Programme (GMAP) of United Bank for Africa(UBA), held in Lagos on Thursday
Picture 3: l-r: Group Treasurer, Stephen Amangbo(1st from Left) ; Executive Director, Alex Alozie(3rd from left); Group Deputy Managing Director, Muyiwa Akinyemi(5th from left); Group Chairman, Tony Elumelu(middle); Group Managing Director/CEO, Oliver Alawuba(9th from left); Executive Directors, Ugo Nwaghodoh(11thfrom left); Group Head, Human Capital Management, Modupe Akindele(12 from left); and Company Secretary, Bili Odum, flanked by graduands of Graduate Management Accelerated Programme(GMAP) of United Bank for Africa(UBA), held in Lagos on Thursday
Business
Access Bank Advocates for Innovative Financing Models to Realise SDGs
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
At the 2024 Medic West Africa Event, organised by ABCHealth in collaboration with Informa Markets, Access Bank reaffirmed its dedication to fostering positive transformation in healthcare across Africa.
L-R: Mories Atoki, Chief Executive Officer, ABCHealth; Jane Ike-Okoli, Head of Specialised Sectors Business & Commercial Banking, Stanbic IBTC; Ralph Opara, Group Head, Commercial Banking Division (Lagos 2), Access Bank PLC; Odunayo Sanyo, Executive Director, MTN Foundation; Ibironke Akinmade, Group Head, Health Finance, Sterling Bank, and Zouera Youssoufou, MD/CEO, Aliko Dangote Foundation at the 2024 Medic West Africa Event hosted by ABCHealth in partnership with Informa Markets in Lagos…recently.
The event, which served as a platform for stakeholders across industries deliberate on the theme ‘Healthcare Investments in Africa: Mobilizing the Private Sector to Drive Healthcare Investments in Africa,’ aimed to chart a path through which corporates can leverage innovative financing models and strategic partnerships in fostering the achievement of the United Nations Sustainable Development Goals.
The discussions also explored strategies for strengthening healthcare infrastructure, leveraging technological advancements, as well as enhancing community health initiatives.
Lending his voice to the conversation, Ralph Opara, Group Head, Commercial Banking Division at Access Bank Plc, stressed that, “The government can’t carry the burden of the health sector alone. Hence, it is imperative that the private sector explores and implements innovative financing models and strategic partnerships to bridge the healthcare investment gap.”
Opara noted that collaborative effort between the public and private sectors is not only crucial but essential to driving innovation, improving healthcare accessibility, and ensuring sustainable development across the continent.
Walking the talk on partnerships, Access Bank partnered with the Private Sector Health Alliance of Nigeria (PSHAN), to launch the Adopt-A-Health Facility Program (ADHFP) with the primary aim of delivering, at least, one global standard Primary Healthcare Centre (PHC) in each of the 774 Local Government Areas (LGAs) in Nigeria. So far, the initiative has resulted into over 180 PHCs adopted across the country.
Other notable participants at the event include Mories Atoki, CEO, ABCHealth; Jane Ike-Okoli, Head of Specialised Sectors Business & Commercial Banking, Stanbic IBTC; Odunayo Sanyo, Executive Director, MTN Foundation; Ibironke Akinmade, Group Head, Health Finance, Sterling Bank, and Zouera Youssoufou, MD/CEO, Aliko Dangote Foundation.
Business
Transcorp Hotels Breaks All-time Revenue Record in Q1 2024, Achieves 844% PAT Growth
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
Transcorp Hotels Plc, the hospitality subsidiary of one of Africa’s leading, listed conglomerates Transnational Corporation Plc (Transcorp Group), has sustained its remarkable financial performance as shown in its released Q1 2024 unaudited financial statements, for the period ended March 31, 2024.
The company recorded a 72% increase in revenue to N13.8 billion compared with N8 billion reported in Q1 2023.
Highlights of Transcorp Hotels Q1 2024 Results
Q1 2024 RevenueN13.8 billion, up 72%, in comparison with N8 billion reported in Q1 2023.
Profit before Tax rose by 568%, amounting to N6 billion in Q1 2024, compared to N911.6 million during the same period last year.
Profit after Tax grew by 844 % year-on-year to N5 billion in Q1 2024, compared to N531 million in the same period last year.
Occupancy grew to 82% in Q1 2024, up from 75% in Q1 2023.
Commenting on the Q1 results, Oluwatobiloba Ojediran, the Chief Financial Officer said, “This outstanding performance highlights the continuous improvement we have recorded in all parts of our business, and how our operational efficiency has given us a competitive edge.
We have continued to break our own revenue records and outperform industry performance on all indices”.
Transcorp Hotels Plc Managing Director/CEO, Dupe Olusola said, “Our excellent first quarter performance marks the beginning of another great year for our company.
We broke our all-time monthly revenue record in March, a demonstration of our commitment to excellence and superior performance.
We leveraged opportunities across our segments for continuous growth. Demand in our International Business Travel and leisure segments remained strong in Q1 2024, delivering an industry-leading revenue per available room (RevPAR) growth of 74% and profit growth in excess of 844%”.
“We assure our stakeholders that we will continue to deliver exceptional value and leverage innovative tactics to rapidly expand our business portfolio.”
About Transcorp Hotels Plc
Transcorp Hotels Plc is the hospitality subsidiary of Transnational Corporation Plc (Transcorp Group), one of Africa’s leading, listed companies with strategic investments in the power, hospitality, and energy sectors.
Transcorp Hotels is redefining hospitality standards in Africa through its businesses, including the iconic Transcorp Hilton, Nigeria’s flagship hospitality destination, and digital platform, Aura by Transcorp Hotels. www.transcorphotelsplc.com
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