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Shareholders Laud Transcorp Hotels Plc For Impressive Performance, Approve 15k Per Share As Dividend

Gbemileke Ajayi

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The Shareholders of Africa’s leading hospitality brand, Transcorp Hotels Plc, have extolled the Company for its impressive financial results for the year ended December 31, 2018. The congratulatory remarks were made at the Company’s 5th Annual General Meeting, which took place at the Congress Hall of the iconic Transcorp Hilton, Abuja.

Following the company’s 26% increase in turnover, the Shareholders have unanimously endorsed a final dividend of ₦1.14bn for the 2018 financial year.  The final dividend translated to 15kobo per ordinary share, which is a 20% improvement over the 12kobo per ordinary share for 2017.

Speaking on the Company’s growth milestones, Chairman of the Board of Directors, Mr. Emmanuel N. Nnorom said “Transcorp Hotels Plc has exceeded the bar with an impressive turnover of ₦17.4billion from ₦13.8billion recorded in 2017, representing an improvement of 26%. This is an unprecedented achievement in the history of the Company. It is a further demonstration of our ability to adapt quickly to a changing business environment while keeping pace with global best standards in hospitality.”  The Chairman also thanked the Shareholders for their continued support and faith in the Board and Management of the Company.

Commending the company for its overall performance, Patrick Ajudua, President, New Dimension Shareholders Association said that Transcorp Hotels Plc is an embodiment of what privatisation in Nigeria should be. He further stated that good Corporate Governance and the presence of a focused Management team who are concerned with giving returns to shareholders are some underlying factors behind the company’s continued success.

The Managing Director/CEO, Mrs. Owen Omogiafo reiterated the company’s commitment to quality and global standard customer experience, drawing on the varied international awards conferred on the Company. She said “We are redefining the hospitality landscape in Africa and positioning our continent as a preferred destination for local and international tourists. Our numerous awards and recognition are proof of this.”

On the prospects for 2019, Mrs. Omogiafo noted that “Transcorp Hotels will continue to leverage on its unique value proposition and proven strategies to exceed 2018 performance.”  She further said that growth and efficiency underpinned by a strong culture of service excellence and cost optimization will drive the company.

BUSINESS

Fidelity Bank Hosts National Capacity Building Webinar For SMEs

Gbemileke Ajayi

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Fidelity Bank Plc, a top Nigerian lender is set to organize a National Capacity Building Webinar For Small Medium Enterprises (SMEs) in the country. The programme is part of deliberate efforts to assist entrepreneurs across all sectors of the Nigerian economy to develop a requisite capacity to unlock their full potentials and take their businesses to the next level of growth.  

Targeted specifically at existing businesses operating in critical sectors of the economy including trade and commerce, manufacturing, hospitability, education, entertainment, transportation, and agriculture, these virtual sessions will take place across the country on a state-by-state basis, with the maiden edition slated for Enugu State on January 27, 2021, by 10 am.  

The Enugu event is organized in collaboration with the Enugu State Ministry of Trade and Commerce and the Enugu SME Centre; Small and Medium Enterprises Development Agency of Nigeria (SMEDAN); Nigeria Association of Small & Medium Enterprises (NASME) and Enugu Chamber of Commerce, Industry, Mines, and Agriculture (ECCIMA). 

Themed “Funding and Financial Management”, the Enugu Edition will have in attendance special guests including Mrs. Monica Ugwuanyi, First Lady, Enugu State, Sir Robert O. Anwatu, Managing Director/Chief Executive Officer, Roban Stores, and Mr. Chiedozie Atuegwu, Director, Michelle Laboratories Limited. 

Other discussants billed to the participants in the webinar are subject matter experts with respect to funding and financial management for SMEs as well as model entrepreneurs who will share their success stories with participants.  

As a financial brand unswerving in its quest to develop the Nigerian economy, the SME Webinar seeks to help the participating MSMEs grow their businesses by educating them on the best measures to take in managing their finances, improving their sales and developing their business in general. 




Speaking on the event, Fidelity CEO, Mrs. Nneka Onyeali-Ikpe said, “The programme underscores our long-running support for the growth of small businesses which stems from our recognition of MSMEs as critical agents of economic development and transformation in Nigeria and the world at large.    

According to IOnyeali-Ikpe, the session aims at providing practical information, skills, and resources to help entrepreneurs become better managers of their businesses. The Bank has embarked on virtual SME-based events, to adhere to the social distancing guideline essential to promoting the safety of every participant in view of the COVID-19 pandemic. 

 

Interested participants are required to click – https://www.fidelitybank.ng/SME-Capacity-Building/ – to register.




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Zenith Beta Life Promo Is Still On!

Gbemileke Ajayi

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The Zenith Beta Life Promo is still on, don’t miss this golden opportunity to have a better life!

Please visit www.zenithbank.com/betalife to learn more.





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Africa Fintech Foundry To Boost Innovation And ‘Techpreneurs’ With 2021 ‘Accelerator’ Programme

Gbemileke Ajayi

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Africa’s foremost innovation hub, the Africa Fintech Foundry (AFF), has opened up its registration portal for the 2021 Accelerator program.

The initiative, which is being executed in partnership with Access Bank Plc, seeks to fast-track the growth of the best start-ups operating within the African technology ecosystem. The ‘Accelerator’ programme will fast track and assist the selected start-ups to navigate issues such as start-up pricing and competitiveness, creating endearing customer experiences, support and retention, hiring and people management, scaling for growth and product development cycle fundamentals amongst others.

Speaking at the launch of the initiative, the Head of the Africa Fintech Foundry, Daniel Awe, said, “Research has shown that 90% of start-ups fail due to various reasons such as lack of funding, being in the wrong market, a lack of research, misaligned partnerships, ineffective marketing, and poor competitive positioning to name a few.  90% is a high percentage rate of failure. This indicates that many things need to go right for a business to succeed. Enabling start-ups to grow, scale and remain relevant in the tech space is where we play a major role as AFF.”

“Since its establishment, the Africa Fintech Foundry has progressively demonstrated leadership in the areas of innovation, financial technology, and entrepreneurship. We recognize the vast array of talent possessed by Africans and the wider global players and the immense potential that our technological start-ups have.

Hence, through the Accelerator programme, we will be providing cohorts with mentorship and clinic hours from leading entrepreneurs, investors, and industry experts. They will also get access to funding, unrivaled business insights, access to markets, and networking opportunities with our partners at various stages of the program,” he said.

The AFF Accelerator programme will span 12 weeks, with formal and informal mentorship from established founders, investors, and pioneers across various industries.

Ade Bajomo, Access Bank’s Executive Director for Information Technology and Operations, highlighted the need for increased corporate investment in tech-focused capacity building initiatives.  He said “Technology can serve as the catalyst for solving many of the problems faced across various industries. We also believe that it holds the potential to resolve social and economic challenges faced across the African continent.  Therefore, as Africa’s gateway to the world, we have partnered with the continent’s leading accelerator, the Africa Fintech Foundry, to create a platform that will nurture the brightest minds, providing them the needed resources to develop and scale their projects, to the benefit of all.

Start-ups to be considered for admission into the programme include those that: have a tech-enabled solution; offer a unique solution or unique application in a regional setting; have a cross-functional team with a deep understanding of the market – which includes technical lead(s) and founder(s) that are fully committed to the business; have a defensible position (IP; network effects; domain or region expertise); have been in operations for at least 6 months, amongst others.

Interested participants can visit www.africafintechfoundry.com for more information. Those who meet the required criteria will be required to fill an online application. Entry deadline has been disclosed as Saturday, 31 January 2020.




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