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Nigerian Company Joins $5.2Bn Pladis

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Pladis Organisation

The Federal Government’s drive to diversify the economy and encourage local production and consumption, has received another boost with A&P Foods, the local manufacturer of McVitie’s and Haansbro products in Nigeria, joining pladis. A&P Foods is a subsidiary of the former United Biscuits, now pladis, a global biscuit and confectionery company which brings together Godiva Chocolatier, United Biscuits, Ulker and DeMet’s Candy Company.

Formed in January 2016, pladis is the new global biscuit and confectionery company owned by Yildiz Holding, the largest food company in Central & Eastern Europe, Middle East & Africa. Named after the ‘Pleiades’ constellation, a group of seven stars visible from anywhere on earth, the new company brings internationally recognized brands Godiva, McVitie’s and Ulker together under one roof to form a $US5.2 billion business.

“Establishing pladis is the first step in realizing the long-term strategy of Yildiz Holding. We are bringing together some of the world’s best loved brands and combining their 350 years of experience to form a new family company. We will be a global leader in biscuits and confectionery, and bring ‘bites of happiness’ to every corner of the world,” comments Yildiz Holding Chairman, Murat Ulker.

Company History

Yildiz Holding started its journey as a family company when Ulker was established in 1944. In 1989, Ulker was brought under the roof of Yildiz Holding and in just over 70 years, the company has evolved from a local Istanbul biscuit maker into a global food group that reaches 4 billion consumers.

In 2014, Yildiz Holding acquired United Biscuits (UB), a major British biscuits business and owner of the McVitie’s brand, becoming one of the world’s largest biscuit manufacturers. With the acquisition of UB, the company also acquired A&P Foods, a UB subsidiary and manufacturer of the McVitie’s and Haansbro biscuits and confectionery in Nigeria.

Strategy

With 36 factories in 13 countries including Nigeria, pladis employs 26,000 people across the world and is led by a senior leadership team: Cem Karakas, CEO, and Ali Ulker, Vice Chairman of Yildiz Holding, focusing on innovation and quality. The company operates on a regional basis, with each region led by a local management team that is responsible for manufacturing and commercial activities of the full pladis brand portfolio.

Ali Jaber, Managing Director of pladis’ Sub Saharan Africa region said, “Being part of pladis brings the opportunity to offer a wider range of brands and products, and further grow the business in the region.” With a firm belief in nurturing growth by building a sustainable flow of raw materials locally, pladis adds value to the lives of thousands of local workers.

The company has developed some long term strategies aimed at helping it achieve its vision of growth in markets where it operates. Commenting on the vision for pladis, CEO, Cem Karakas, states, “We have significant growth ambitions for pladis with the aim to outperform the category standard year-on-year. This is supported by our capital position and the strength of our manufacturing as one of only two companies in the world that produce such a broad range of biscuits and confectionery. As one global family, we can be agile and innovate around our products, developing more brand synergies to benefit our business.”

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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C&I Leasing Announces Delay in Filing 2021 AFS, Q1, 2022

C&I Leasing Plc on Tuesday announced it won’t be filing the 2021 Annual Financial Statements for the year ended December 31 and the Unaudited Financial Statements for the first quarter (Q1) of 2022 due to regulatory delay.

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Ugoji Lenin Ugoji

C&I Leasing Plc on Tuesday announced it won’t be filing the 2021 Annual Financial Statements for the year ended December 31 and the Unaudited Financial Statements for the first quarter (Q1) of 2022 due to regulatory delay.

The company stated in a statement signed by Mbanugo Udenze & CO., Company Secretary of C&I Leasing Plc and obtained by Investors King.

According to C&I Leasing, all plans were made to release the financial statements before the stipulated regulatory filing deadline but the company is “yet to obtain the approval of CBN to proceed to file.”

Therefore, the company accounts are still undergoing review with the Central Bank of Nigeria.

The statement reads, “C&I Leasing Plc (“the Company”) hereby notifies Nigerian Exchange Limited (the Exchange) and the investing public of the delay in the filing of its 2021 Annual Financial Statements for the year ended 31 December 2021 and the Unaudited Financial Statements for the period ended 31 March 2022.

“The Company’s audited accounts are still undergoing review by our primary regulator, the Central Bank of Nigeria (CBN). We had envisaged and made requisite plans in ensuring the approvals for filing was obtained before the stipulated regulatory filing deadline.

“However as at today, we are yet to obtain the approval of CBN to proceed to file.

“Consequently, the Company is also unable to file its Unaudited Financial Statements for the period ended 31 March 2022 as submission of the Audited Financial Statements is a condition precedent to filing of the Company’s Unaudited Financial Statements.

“We understand the importance of the audited report to the Exchange and the general public, and we pledge to file and make them available once they are approved by the Central Bank of Nigeria.”

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IL Bagno Rewards High Performing staff with All-Expense Paid Trip to Dubai

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Victor Nwaogu receiving Ticket from ED Black Pelican

IL Bagno, the leading total interior solutions company in Nigeria, for the world’s leading manufacturers of sanitary fittings, kitchen, tiles, doors, and other interior solutions recently recognised two members of its staff for their high performance and commitment to the success of the organisation.

Bosede Opebiyi and Victor Nwaogu both administration officers at IL Bagno’s Abuja and Lagos office respectively were awarded the IL Bagno excellence award based on a voting process by managers of the organization. They were both presented with a 5 day all-expense paid trip to Dubai and a commendation letter signed by the CEO.

Speaking on the award presentation, Mrs. Adetola Owolabi; Executive Director Black Pelican Group said ‘’as an organisation, we value and reward professionalism and exceptional performance. We voted the winners considered to be the most supportive and representatives of the ethos of hard work, diligence, and professionalism. They both represent the ideals of the company and go over and beyond to support other members of the team to achieve the organisations objectives. Consistent good work never goes unnoticed; I would therefore encourage others to emulate the diligence shown by them’’.

An elated Opebiyi thanked the organization for the kind gesture. ‘’I am proud to be a part of the Black Pelican Group, thank you for recognising my effort, I am motivated to do even more’’.

‘’I am truly humbled by the trust and faith placed in me, I feel compelled to work harder and improve my skills on the job’’ Nwaogu stated.

The debut award will be given twice in a year to deserving staff members voted by managers of The Black Pelican Group.

IL Bagno business is the business unit with the Black pelican Group that provides total interior solutions, it has carved a niche for being the preferred supplier of bathroom and other interior fittings to the most discerning clients and projects. The company recently celebrated its 18th anniversary.

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Appointments

Former Goldman Sachs Managing Director, Gurbhej Dhillon Joins Flutterwave as New the CTO

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Flutterwave - Investors King

Flutterwave, Africa’s leading payments technology company, today announced the appointment of former Goldman Sachs’ Managing Director, Gurbhej Dhillon as Chief Technology Officer (CTO).

Gurbhej joins at a key time for Flutterwave, following its recently completed Series D funding round, valuing the company at over USD 3 billion, and maintaining its rapid expansion.

As the new CTO, Gurbhej will be responsible for the further development of Flutterwave’s innovative technology platform which currently supports integrations with key technology partners like VISA, Mastercard, Discover Card Networks, and customers like Uber, Flywire, Booking.com etc. He will focus on improving the architecture and infrastructure, as well as providing leadership enabling other engineering and product leaders to create the best solutions that support business growth for customers.

Gurbhej joins Flutterwave from Marcus by Goldman Sachs, where he was the CTO and Head of Lending Engineering. He has extensive experience in enterprise application architecture across financial services and consumer businesses. At Marcus, he was responsible for launching platforms to significantly grow businesses while improving customer experience and established strategic partnerships with several Fortune 500 companies.

Prior to that, Gurbhej was CTO for Goldman Sachs’ Investment Banking Capital Markets team, responsible for the design, architecture, and build-out of strategic platforms that enabled clients to execute equity and debt product offerings.

Gurbhej is a great supporter of the Developer Community in Africa and admires the work they have done in recent times, building creative solutions at a world-class standard.

In his role as CTO of Africa’s leading technology company, Gurbhej hopes to support the Community to attain higher levels.

Olugbenga ‘GB’ Agboola, Founder and CEO of Flutterwave, said: “I look forward to working closely with Gurbhej as we continue to expand rapidly. With the needs of our customers constantly evolving, we remain focused on driving further innovation across the business and continuing to develop our cutting-edge technology platform that simplifies payments and connects the African market with the world. Gurbhej’s experience and deep expertise in developing financial technology platforms will be instrumental in Flutterwave’s further growth.”

Commenting on his appointment, Gurbhej Dhillon said: “I am delighted to be joining the Flutterwave team at such an exciting time for the company. As a leading financial technology company in Africa, Flutterwave is well-positioned to capitalise on the global trends in payment digitisation and continues to drive Africa’s digital transformation, creating further opportunities for customers and merchants alike. It is a very crowded market with lots of new entrants so it is vital that we as a company continually look to innovate our products and services, improve our existing architecture and create endless possibilities for everyone.”

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