NASCON Allied Industries Plc is targeting more market share in the food sector through increased product range and innovation. According to Executive Director, Commercial of NASCON, Fatima Aliko-Dangote, the company, which added three new products in 2018, would be introducing more products this year as part of strategies to meet the needs of its varied customer base.
Fatima Aliko-Dangote, who spoke at the annual general meeting of the Dangote Industries Limited subsidiary held in Lagos yesterday, said NASCON products are widely accepted in the market.
Managing Director, NASCON, Paul Farrer said the company, having demonstrated its resilience in the challenging environment of 2018, is strongly focused on capacity growth and increased market penetration. He disclosed that the company would be leveraging on a number of synergies including improved output in terms of quality, quantity and business efficiency to deliver value for all stakeholders.
On the new products introduced in 2018, he said, “…we launched the Dangote Stew Mix, Dangote Curry and Dangote Classic seasoning. These three products are part of a wider product enrichment plan to diversify our product portfolio. The products were specifically developed to meet and surpass the needs of our consumers across the country. Each of these products has been tailored to suit the local taste and cooking habits of the different regions in Nigeria. We would continue to differentiate ourselves in our product category by consistently delivering high quality, nutritious products.”
Shareholders at the AGM took turns to laud the board and management of NASCON for a good outing in 2018 and counselled the latter to do better in the present year. A shareholder, Olagoke Olusegun commended the quality of the board of directors, which he said consists of vibrant and experienced members who oversee and influence the activities of the management team. According to him, the good synergy between the board and management is seen in the performance of the company despite the harsh operating environment manufacturing companies faced in the year 2018.
He also tasked the management to pay more attention to the welfare of staff who are key to the performance of the company. He said, management should adhere to the best operating guidelines in order not to run afoul of regulatory agencies’ requirements.
A leading shareholders’ rights’ activist, Sunny Nwosu, in his remarks, lauded the board and management of NASCON for their ability to declare and pay dividends despite the harsh operating environment which resulted from the Apapa Wharf gridlock and the downturn in the national economy. He said while other companies are lamenting and cutting down on production, the company is paying dividend which is commendable.
Another shareholder, Mrs. Funke Godswill, also commended the performance of the company but lamented the impact of Apapa Wharf traffic which she said hinders optimal performance of companies within the axis. Sunday Apu, a concerned shareholder, bemoaned the issue of smuggling of salt products through the borders which erodes the market share of NASCON. He called on the management to collaborate with the Nigeria Customs Service in order to curb the spate of smuggling which stifles domestic production.
Mrs. Bisi Bakare, in her contribution, commended the quality of the product mix from NASCON which she says compares with the best in the market. She also lauded the board and management for the company’s dividend policy, and paying of dividends consistently for the past eleven years. Another shareholders’ rights’ activist, Murktar Murktar said NASCON is garnering more market share through the introduction of three new products in 2018.
Keystone Bank partners Nilayo Sports to host Valuejet Remo Ultra Race
As a way of demonstrating its commitment to promoting fitness and healthy living amongst Nigerians, Keystone Bank Limited, recently partnered with Nilayo Sports Management Limited (NSML), to host the maiden edition of the Valuejet IAU African Championship, Remo 2019 competition.
The 50km ultra-distance race event held on Saturday December 7, 2019 at Sagamu, Ogun State, was the first African championship in IAU’s 35-year history. The three-in-one championship had about 4000 athletes from across 35 IAU member countries.
The race which took off at the Gateway International Stadium had in attendance dignitaries including the governor of Ogun State, Dapo Abiodun, president of IAU in Africa, Solomon Ogba, executive director, Keystone Bank, Yemi Odusoya, ex- Nigeria athlete, Falilat Ogunkoya amongst others.
Speaking at the event, Mr. Bukola Olopade, the managing director of NSML said the race is one of the company’s numerous ways to create bond among Nigerians and the world at large. “The ultra-marathon is first of its kind in Africa and we are elated that our company is responsible for bringing youths together to harness their talents. “Valuejet IAU African Championships is a trendsetter. The ultra-race has set an excellent example for ultra-running on the continent”, he concluded.
Commenting on the bank’s involvement in the event, executive director of Keystone Bank Limited, Mr. Yemi Odusanya said the lender recognises the importance of health to nation building, stating, “A healthy workforce is considered the most productive workforce. Good health is critical to economic development and therefore, health remains one of our core CSR pillars in the bank. Keystone Bank will continually strive to promote advanced healthcare in Nigeria.
“The competition showcases the bank’s commitment to community investment and project financing.
“Therefore, sponsoring the Valuejet IAU African Championship, Remo 2019 competition is in line with our vision to promote a healthier nation as a whole.”
At the event, winners of the 50-kilometre ultra-race in both foreign and local categories pocketed $2,000, while the second and the third placed runners received $1,500 and $1,000, respectively.
For the Nigerian local five-kilometre run, the winner received N500, 000, runner-up N300, 000, while the second runner-up went home with N150, 000.
Nigerian musical artistes, CDQ, Slimcase and Naira Marley were also on ground to add glamour to the event.
While Nilayo Sports Management is a sports management and marketing company, working with some of the biggest names in the world of sports like IAAF, CAA and AFN aimed at promoting sporting activities from grassroots level to international level in Africa, Keystone Bank is a technology and service-driven commercial bank offering convenient and reliable solutions to its customers.
UNIBEN Alumni honours UBA CEO Uzoka, Giwa-Osagie, others
University of Benin Alumni Association, Lagos Chapter has honoured the Group Managing Director/Chief Executive Officer of United Bank for Africa(UBA), Mr. Kennedy Uzoka.
The honour which was conferred at an impressive Dinner held at Sheraton Hotel, Ikeja-Lagos at the weekend was in appreciation of Uzoka’s ‘hardwork, diligence and continuous commitment to the values of excellence’ as a banker and head of the Pan-African financial institution with presence in 20 African countries.
Honoured along with Uzoka were Emeritus Professor, Osato Giwa-Osagie, a renowned professor of Obstetrics and Gynaecology and Founder of OMNI Medical Clinic, Dr(Mrs) Rametu Omamegbe Momodu, Deputy Director, National Agency for Food and Drug Administration and Control (NAFDAC), among others.
Responding to the honour, Uzoka expressed his delight at being honoured by the university he holds in high esteem, saying, “I am very proud of this great university which was very instrumental in moulding me to what I have become today, driving a financial institution with strong commitment to the development of the African continent,” Uzoka said.
He reiterated his personal commitment and that of the bank to continue to support the development of UNIBEN, adding that UBA has been showing deep interest and support to the institution, for instance, it recently built an ultra-modern ICT Centre at the Ugbowo Campus through the UBA Foundation among other things.
The Chairman of Occasion, Gen. Felix Edafioghor, who spoke at the occasion, said the dinner was in honour of the Alumni of the university who have contributed immensely to the development of the society and that of the university. He encouraged the alumni to show deep interest in the affairs of their alma-matter by giving back to the university that contributed to their successes.
Also speaking, Pharm. Stephen Onojomete, Chairman, UNIBEN Alumni Association, Lagos Chapter, noted that the award provides an “opportunity to showcase and celebrate our great mean and women who by hardwork, diligence and a continuous commitment to the values of excellence; have recorded major strides in their chosen profession thus contributing to national growth and development in general and projecting the good image of UNIBEN.”
Kennedy Uzoka is a distinguished African business executive, with vast experience in banking, business development, financial and business advisory, strategic planning and execution as well as human resource management. He is an advocate of disruptive technology and has led many game-changing innovations in the African banking industry over the past two decades of his career.
Uzoka holds a BSc. in Mechanical Engineering from the University of Benin is also a Fellow of the Chartered Institute of Bankers in Nigeria (CIBN). He is an alumnus of the Advanced Management Program (AMP) of the Harvard Business School, Boston USA, the International Institute of Management Development (IMS) in Lausanne, Switzerland, and the London Business School, United Kingdom.
Again, UBA Group emerges African Bank of the Year
The Banker Magazine has once again selected leading African financial institution, United Bank for Africa (UBA) Plc as the “African Bank of the Year 2019”.
This is the second time, UBA has clinched the prestigious award, having been named Best African Bank of 2017 by The Banker magazine.
This year, UBA also won best bank category in 6 of its subsidiaries: UBA Benin, UBA Tchad, UBA Gabon, UBA Congo, UBA Cote D’Ivoire and UBA Sierra Leone.
The unprecedented win marks the first time ever in the history of the banker awards, that any one bank will be given as many as six wins including the grand regional award.
The awards ceremony took place at the Sheraton Grand, Park Lane in London at the weekend where UBA was represented by its CEO, UBA Africa, Mr. Victor Osadolor who received all seven awards on behalf of the bank.
John Everington, Middle East and Africa Editor for The Banker, said the aim of the award “is to highlight industry wide excellence within the global banking community. The winner is selected from participating banks in each of the countries from which entries are received for the competition.”
Mr. Kennedy Uzoka, UBA’s group managing director/chief executive officer, who expressed delight over the recognition from The Banker stated “The recognitions come as a reassurance that we are on track in consolidating our leadership position in Africa, as we continue to create superior value for all our stakeholders,”
“UBA must be doing something right, and for us, these awards mark another milestone for the Group. It is a testament of the diligent execution of the bank’s strategic initiatives geared towards customer service. Being recognised as Africa’s best bank complements positive feedback from customers and is a recognition of our improving efficiencies, service quality and innovation. I therefore dedicate it to our growing loyal corporate and retail customers, who are our essence.”
Uzoka dedicated the awards to the UBA’s customers, “whose loyalty, support and patronage have remained the source of the group’s growth and competitive edge in all the markets we operate.”
The CEO of UBA Africa, Victor Osadolor who received the awards, added: “UBA group will continue to innovate and lead in all our business segments, whilst delivering top-notch operational efficiencies and best-in-class customer service. We are beginning to realise early gains from our ongoing transformation programme and I am excited about the days ahead.”
The Banker Magazine is a publication of the Financial Times – a leading global finance news publication which has been in existence since 1888. The Banker magazine is the definitive reference in international banking for high level decision makers globally.
The “Bank of the Year Awards” are widely regarded as the Oscars of the Banking Industry. For over 90 years, The Banker has been the world’s leading monthly journal for the banking industry.
United Bank for Africa Plc (UBA) is a leading pan-African financial services group with presence in 20 African countries, as well as the United Kingdom, the United States of America and France.
UBA was incorporated in Nigeria as a limited liability company after taking over the assets of the British and French Bank Limited who had been operating in Nigeria since 1949. The United Bank for Africa merged with Standard Trust Bank in 2005 and from a single country operation founded in 1949 in Nigeria – Africa’s largest economy- UBA has become one of the top providers of banking and other financial services on the African continent. The bank provides services to about 15 million customers globally, through one of the most diverse service channels in sub-Saharan Africa with over 1000 branches and customer centres and a robust online and mobile banking platform.
UBA was the first Nigerian bank to make an Initial Public Offering (IPO), following its listing on the NSE in1970. It was also the first Nigerian bank to issue Global Depository Receipts (GDRs). The shares of UBA are publicly traded on the Nigerian Stock Exchange (NSE) and the bank has a well-diversified shareholder base which includes foreign and local institutional investors, as well as individual shareholders.
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