- Delta Air Lines Pledges Commitment to Nigerian Market
The commercial director East and West Africa of Delta Air Lines, Bobby Bryan has restated the airline’s commitment to the Nigerian market, describing international air travel in Nigeria as resilient.
Speaking during a media launch in Lagos on Wednesday, Bryan said that despite the recession, foreign exchange problem, Delta Air Lines is in Nigeria to stay and has adapted to the transient but prevailing economic situation.
He noted that the African continent and Nigerian market remain a continued area of focus for Delta as the airline will continue to adapt, fly and grow in Nigeria.
He disclosed further that the airline has almost carried one million passengers between Nigeria and United States since 2007 it started operating into the country.
He said the attainment of one million passengers on the Nigerian US route is a milestone the airlines will soon celebrate.
Bryan said the airline feel important flying to the country because Nigeria is strong market for Delta Air Lines.
“This is an important year as we celebrate our 10th anniversary of service to the African continent. Back in December 2006, Delta launched services to Johannesburg, Dakar and Accra, becoming the only U.S. airline to operate scheduled flights between Africa and the United States since the 1980s”.
He said Delta is focused on deploying Radio Frequency Identification (RFID), which is a baggage tracking technology.
This will allow passengers track the movement of their bags on the aircraft, he said.
The commercial director East and West Africa of Delta Air Lines added that the airline will be rolling Delta Premium in 2017.
He said though the airline still has trapped funds in Nigeria, it is coping with the situation in the country.
Bryan while thanking the Nigerian government for her efforts in getting some of the airlines trapped funds in the country out, he urged the government to continue helping so that the airline will continue operating in the country.
He attributed the sustainability of their operations in Nigeria to strong market, incredible Nigerian staff, commitment to the market.
The commercial director East and West Africa of Delta Air Lines said the demand for travellers has not dropped, as the number of people desiring to travel has not dropped but has rather increased.
He said despite all the challenges, there is light at the end of the tunnel for the airline.
Bryan explained that the airline is coping with the scarcity of Aviation fuel as its effect on its operation is minimal.
The airline has not cancelled flights for once since the scarcity became worse, Bryan confirmed.
He said the airline works with varieties of Jet A1 suppliers and also plan ahead to keep up their operations in the midst of the scarcity.
Bryan observed that the major problem the airline is grappling with is that of Forex after which every other things flow from it.
He disclosed further that Delta is one of the airlines running the best operations in the industry, offering Wifi services on its international flights including from Nigeria to US.
“Atlanta is Delta’s hometown and it is also the world’s largest hub.
Are There Better Ways to Help Consumers Tackle Social and Environmental Problems?
Techniques used by online microfinance platforms to spur user involvement could be useful in helping organisations to persuade people to behave in ways that benefit both society and environment.
Microfinance platforms have popularised the idea that ordinary people can become bankers to the poor. Communities of lenders get together every day to crowdfund microloans to disadvantaged micro-entrepreneurs by investing small sums of around only 25 dollars.
A new study digs into the universe of these microloan platforms to investigate how they manage to attract investors and perpetuate their enthusiasm for responding to social problems such as poverty.
Researchers from the Universities of Birmingham and Southern Denmark have identified two major ways through which platforms maintain and potentiate lending. Their findings are published in the Journal of Consumer Research.
Firstly, the platforms assemble resources that function as an ‘apparatus of affirmation’ – providing first-hand evidence of impact that help consumers imagine the benefits of their actions, thereby creating a sense of empowerment.
Secondly, the platforms translate complex and distant social problems, such as poverty, into personal encounters between lenders and borrowers – creating a sense of connection and familiarity via photographs, stories and loan updates. This set of techniques is theorised as the ‘apparatus of relatability’.
Co-author Dr Pilar Rojas-Gaviria, Lecturer in Marketing at the University of Birmingham, comments: “Organisations such as microlending platforms, which strive to mobilise responsible consumers, face two key challenges – overcoming the powerlessness felt when facing daunting problems, and removing a sense of disconnection from ‘faraway’ problems.
“Supplementing the power of ideas and knowledge with personal stories that inspire hope and aspiration, affinity and connection are powerful techniques that could be useful in inspiring consumers to more actively participate in efforts to tackle social and environmental problems, such as climate change.”
Through storytelling, imagery, platform design and communication, the researchers note that online microlending platforms nurture a feeling that genuine change is possible through affordable actions. They also develop a sense of affinity and empathy among potential investors with aspiring micro-entrepreneurs, particularly those from Low-and Middle-income Countries (LMIC).
For example, the platforms publish loan requests to showcase individual borrowers with first names, photographs, and short biographies. This personalised strategy effectively frames microlending as a virtual encounter with a borrower and their story of micro-entrepreneurship. Celebrities, such as actor Natalie Portman, have over the past years helped the microfinance industry to promote microloans as an act of hope that empowers resourceful poor in their efforts to escape poverty.
Co-author Domen Bajde, from the University of Southern Denmark comments: “The advent of online microlending has expanded the pool of potential investors to anyone with internet access and $25 to spare.
“After learning that lenders were more interested in ’emotional returns’ rather than financial profit from their loans, platforms began to dramatise microlending as an act of aspirational hope and affinity toward the entrepreneurial poor.”
The research is also significant for charitable giving, noting that donors are more likely to contribute when they see their donations as a way of empowering the disadvantaged and when donations are experienced as impactful investments.
Tunde Hassan-Odukale is FBN Holdings Largest Shareholder, Not Femi Otedola, FBN Holdings Clarifies
In response to the questions asked by the Nigerian Exchange Limited (NGX), FBN Holdings has said Mr. Tunde Hassan-Odukale, a Director of First Bank of Nigeria Limited is FBN Holdings Plc’s largest shareholder and not billionaire Femi Otedola.
In a statement signed by Seye Kosoko, Company Secretary, FBN Holdings Plc and released via the Nigerian Exchange Limited on Wednesday, Mr. Tunde Hassan-Odukale directly holds 26,231,887 shares or 0.07 percent.
However, his indirect holdings stood at 1,897,280,212 shares or 5.29 percent of FBN Holdings’ total issued shares.
Breaking down Mr. Tunde Hassan-Odukale indirect holdings, the director holds 755,959,459 or 2.11 percent shares through Leadway Assurance Company Ltd.
Another 486,605,478 shares or 1.36 percent via ZPC/Leadway Assurance Prem & Inv Coll Acct. He acquired 0.04 percent or 13,229,148 shares through Haskal Holdings Ltd. Mr. Hassan-Odukale also purchased 1,004,528 shares through Leadway Capital & Trust Ltd.
He then bought 112,552 shares through LAC Investments Ltd; 112,237 through Leadway Properties & Investment Ltd; 211,290,798 or 0.59 percent via Leadway Holdings (Holdco); 53,771,413 or 0.15 percent through OHO Investment and finally acquired 375,194,599 or 1.05 percent through Leadway Pensure PFA.
Therefore, Mr. Tunde Hassan-Odukale direct and indirect holdings in FBN Holdings Plc stood at 26,231,887 or 0.07 percent and 1,897,280,212 or 5.29 percent, respectively. In totality (Direct and Indirect), he holds 1,923,512,099 or 5.36 percent shares in FBN Holdings.
This is more than the 10,000,000 or 0.03 percent shares directly owned by Mr. Olufemi Peter Otedola and another 1,808,551,625 or 5.04 percent he acquired via Calvados Global Services Limited. Mr. Otedola total stake’s in FBN Holdings now stood at 1,818,551,625 or 5.07 percent. Making him the second-largest shareholder in the company.
Tesla’s Valuation Crosses $1 Trillion Mark After Hertz Orders 100,000 Vehicles
Price of Tesla stock rose by $115.18 or 12.66 percent on Monday after Hertz, an American car rental company based in Estero, Florida, ordered 100,000 Tesla electric vehicles in a deal worth $4.2 billion.
Four months after surviving bankruptcy, Hertz Global Holdings Inc. is strategically moving away from fuel cars to electrify its rental-car fleet.
According to Hertz, customers will be able to order Tesla Model 3 at airports and other locations in major U.S. markets and some cities in Europe starting from early November.
The announcement bolstered Tesla’s market value above $1.03 trillion before it moderated to $1.01 trillion at the close of business on Monday.
Tesla’s valuation has risen at an unusual pace since the COVID-19 outbreak. The company’s valuation jumped from $100 billion to $1 trillion in less than two years, according to data available on Dow Jones. It took Amazon, Apple and others more years to attain the same status. To put it in perspective, it took Amazon more than eight years to move from a $100 billion valuation company to $1 trillion.
Despite analysts saying Tesla is extremely overvalued and a series of price adjustments post-COVID-19 are predicted, Tesla Inc and Elon Musk, the company’s CEO and Co-founder, seem not to be slowing down.
Musk’s Tesla holdings, including vested and unvested options, were valued at around $297 billion as of Monday, October 25, 2021, according to corporate-governance data company Equilar Inc. Elon Musk’s holdings in Tesla is more than the valuation of Toyota Motor Corp., the second-largest automaker by market capitalization.
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