LAPO disburses N1.9bn in first quarter of 2008

By John Lipsky

From right, Managing Director, Consolidated
Breweries Plc, Mr. Nico Pinotsis; former Managing
Director, Mr. Jean Poizat and General Manager,
Commercial, Mr. Philippe Elbez, during the
company’s launch of a new product, “TURBO KING,”
at Premier Hotel, Ibadan, Oyo State, recently.
Photo Alolade GaniyuLAPO, a leading microfinance institution in Nigeria disbursed N1,886,526,780 to micro entrepreneurs across the country in the first quarter of 2008.

This was disclosed by the Managing Director of the institution, Mr Godwin Ehigiamusoe, while reviewing its operational and financial performances for the first quarter of the year. He noted that the figure represented 157 per cent improvement over the N732, 653, 950 disbursed in the first quarter of 2007.

A breakdown of the figure showed that N1,672, 100,500 was disbursed to micro enterprises while N174, 066, 280 was disbursed to small businesses. Another N40, 360, 000 was disbursed exclusively to food crop farmers in communities in Edo State. Ehigiamusoe said LAPO began microfinance operations in Sierra Leone during the first quarter with the incorporation of LAPO Microfinance Company Limited in that country.

While attributing the successful performance to the capacity which LAPO has built over the years, Ehigiamusoe lauded the commtment of staff who he said traverse hamlets and urban slums to deliver quality financial services.

He was delighted with the support of local and international financial institutions such as the Grameen Foundation, Citi Bank, Skye Bank and Oceanic Bank, noting that it is a demonstration of confidence, not only in LAPO’ s capacity but also in the potentials of the microfinance sector in Nigeria.

Ecobank to raise N120bn from capital market

By Friday Ekeoba and Omolara Olukoya Lagos

With sharehold ers approval at its twentieth Annual General Meeting (AGM), Ecobank Plc is set to return to the capital market to raise the sum of N120 billion aimed at galvanising it into a world- class African banking group.

The bank said the money, to be sourced through preferential allotment, right issue and public offer would enable the bank consolidate on its strategic objectives to build scale, enhance information technology and grow capacity, among other benefits.

Speaking at the AGM, the bank’s Chairman, Chief John Odeyemi, said the bank, with a branch network of 250, would continue to build on its organic growth in the financial year.

He said the bank intended to further grow the capital base in 2008, to enhance its expansion drive as well as fund other strategic business initiatives and development.
Approving the N120 billion which the bank seeks to raise before the end of the year, leaders of shareholders group present said they would support the offer to ensure its success.

However, they warned the bank against preferential allotments, which according to them, have been used by big investors to bring woes to small investors in the capital market.

According to the annual report of the bank, it enjoyed a year of unprecedented growth in 2007 as its gross earnings grew by 90 per cent to N33billion from N17 billion recorded in the preceding year. The bank’s profit before tax hit N10 billion, representing a 101 per cent increase over previous year’s figures, while the operating ratios also generally recorded positive improvements.

In a related development, the shareholders of Consolidated Breweries Plc have applauded the beverage company’s payment of a dividend of N5.45 per share, noting that the return on investment was due to positive growth strategy of the management.
It would be recalled that the company’s net profit after taxation rose to N2.2 billion, a growth of 116 per cent while turnover increase to N13.2 representing 37 per cent growth.

Dock workers, terminal operators agree on condition of service

Dele Aderibigbe and Folashade Alli, Lagos

Industrial peace in the ports sector got a boost at the weekend, as dockworkers and terminal operators signed a Memorandum of Understanding MoU, putting to rest the lingering threat by dockworkers to disrupt public peace over total absence of any condition of service.

The accord which was brokered by the Nigerian Ports Authority NPA in Lagos between the Maritime Workers Union of Nigeria MWUN and the concessionaires guarantees the ports’ labourers better pay, new respect and an assurance of being more decently dressed, while at work.

Stressing the need for peace at the occasion, the NPA Managing Director Mallam Abdulsalam Moha-mmed said government expected the coming together of both the Terminal Operators and the Dockworkers to fulfil a key objective of ensuring peaceful co-existence between them and by extension, to all maritime stakeholders.

He challenged the dockworkers to increase their productive capacities, highlighting that the tasks before them via the new agreement demands for new standards of work ethics, as Terminal Operators would now prioritize the issues of working hours, kitting, Industrial relations and wages.

Obviously elated at the occasion, the MWUN President General, Comrade Oniko-laese Irabor commended the Managing Director, for making the issue of enhanced wages for dockworkers come to fruition., and advised that the committee which the achieved the feat should not be disbanded, but rather be further empowered to monitor compliance on all issues addressed in the agreement.

Blockmaker wins N0.5m in Multi-Links promo

Odidison Omankhanlen, Lagos

From left, Mrs. Abidemi Onakoya, Customer Care
Officer, Power Holding Company of Nigeria (PHCN),
Molete District, Ibadan; Chief Sylva Emoekpere,
President National Institute of Marketing of Nigeria
(NIMN); Mr. Henry Adegbuyi, Oyo State Chairman,
National Institute of Marketing of Nigeria;
Mr. Adeyemi Adeyombo, Sales Manager,
Nigerian Tribune; and Mrs. Bose Opakunle
also of Nigerian Tribune, during a NIMN workshop
held recently in Ibadan.A Lagos-based block maker who emerged successful in Multi-Links Telkom ‘Win-a-Million’ promo, winning N500, 000 in the draw, has been presented with the cheque for the amount at a ceremony held at Marcopolo in Victoria Island, Lagos Mr. Wasiu Hassan, who happens to be the manager of a block industry, lost his job recently because he took time off from work to confirm the call he received from Multi Links’ office that he had won N500,000.

During the gift presentation, Mr. Hassan expressed gratitude to the management of Multi-Links Telekom; saying, ‘I don’t have much to talk but I’m saying thank you to Multi-Links because the money will do a lot of things in my life. I’ll use it to start my own business.

However, the CEO of Multi-Links, Mr. Justin Rumaiya, made it known at the event that Multi-Links Telekom now focuses more on the people, pointing out that since Multi-Links and Telekom SA are now one company, “We’ve decided to reciprocate our esteemed customers’ loyalty with the series of promo we’ve been running.

“We want to demonstrate that between us and our loyal customers, we are poised to making a difference in our business relation. In the past few months, we’ve grown from 200,000 subscribers in 2007 to 900,000 subscribers which I see as quite an achievement. It’s not just growing the customer base, but it’s about making sure that you are rendering high quality services people want.”

He continued by saying “you can not say your brain is good, it’s the people that’ll say so and people are saying Multi-Links is a good company and we’ll like to bring our experience and high quality service to bear.”

The CEO stated that Multi-Links was not just creating good relationship with customers but also with its employees so that they can understand what the brand is about. He said, “We have got a three weeks’ plan for June. We are going around the country where our services already exist to tell and show our employees what the brand stands for.”

The company had hitherto organised several other promos, which have enriched some of its subscribers. Last week, Theresa Onykoko emerged winner of a new Kia Rio car in the firm’s Win-a-Car promo.

Third Dimension beams Nigeria on MOBYMAP device

Oluwaseun Ayantokun, Lagos

Frontline UK affiliate digital mapping and consulting firm, Third Dimension Technologies Ltd, has unfolded latest surveying facilities and a rich portfolio of interactive MOBYMAP. The company is hitting the Nigerian market with this and GIS products, which could be applied by surveyors, telecom service providers, urban development authorities, government agencies and other users.

Managing Director of Third Dimension Technologies (2DT) and sole agent of MOBYMAP products in Sub-Sahara African region including Nigeria, Mr Opeyemi Alabi, led the team of high-profile GIS professionals, GEOs, spatial experts and surveyors at a forum organised by the company in Lagos to unveil latest mapping products and servcices.

These included MOBYMAP, CEASERMAP and SATNAV, Mr. Alabi, a UK-based Geo informatics technologist, chartered surveyor and infrastructure consultant, while presenting the company’s array of products at the interactive forum said he was optimistic that Nigeria’s economy froth, environment and urban development are directly linked through the provision of mapping and technology based surveyor infrastructure as is the practice in advanced countries like China, Europe and America.

He noted that Third Dimension Technologies along with his its partners in UK and America are looking forward to leveraging mobile mapping technology and attracting investment in GIS and MOBYMAP products stock in Nigeria for a full compliment of Geo spatial solutions, upgrading and customisation of surveying facilities for states and government agencies.

According to Mr. Alabi, MOBYMP, CEASERMAP and SATNAV (in-car mapping device) arte leading mobile phone devices and international trademark brand of GIS for urban residents and business executives which Third Dimension Technologies is introducing in Nigeria to enable the user expand his economic activities in a given community or metropolitan center across the country.

The Nigerian telecom service providers would also find the mobile mapping device strategic to their product development and competitive edge in the market. “The functions include search for streets, business districts, Banks, Schools, Hotels, Airlines etc and Zoom in/out other city maps or urban facilities while all Nigerian cities down to street level are presently covered by our mobile map network device” Mr Alabi assured He explained that the imperative of MOBYMAP as a utility handset by GSM subscribers and business executives enable users to browse Nigerian city maps on their phones was as a result of Third Dimension Technologies commitment and lofty aspiration to keep pace with the high standard of living and economic development around the world.