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Med-View Airline’s Turnover Hits N26bn in Five Years

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medview airline
  • Med-View Airline’s Turnover Hits N26bn in Five Years

Med-View Airline Plc said it grew its turnover by 622.2 per cent to N26bn from N3.6bn in the past five years.

The airline, which was listed on the Nigerian Stock Exchange by introduction, on Tuesday, said it was coming to the market to raise working capital and further grow shareholders’ value.

“We have been able to operate successfully for 10 years. We have a very clean record and have grown turnover from N3.6bn to 26bn in five years,” the Managing Director/Chief Executive Officer of the company, Alhaji Muneer Bankole, said in his address at the Nigerian bourse.

On why the company decided to list on the Exchange, Bankole reiterated that the firm was seeking to enhance its corporate value and brand image.

In addition, he said the airline wanted better access to long-term capital from wide range of local and international investors; better clout and rating when obtaining loans from financial institutions.

This was also to boost the international image and profile of the company, as well as improve its corporate governance and accountability.

According to him, the company is projecting to grow its revenue from N31.432bn in 2017 to N58.491bn by 2020.

Commenting, the Chief Executive Officer, NSE, Oscar Onyema, said Med-View had taken strategic steps to list on the NSE, which further reinforced “our belief; in spite of several policy and economy challenges in the nation, our platform remains one of the best venues for raising capital and encouraging an enabling sustainable growth for national development.”

He noted that despite the challenging operating environment in the aviation industry in Nigeria and globally, the air transport industry had continued to contribute $10bn to gross domestic product of Africa countries and “it is projected that close to six million jobs would be supported by Africa air transport sector over the next 20 years.”

Onyema confirmed that Med-View Airline met the listing standards of the NSE, saying that with the listing, the company was showing its commitment to a culture of strong corporate governance, excellence, professionalism and efficient services to its passengers as well as guaranteeing increased return to its shareholders.

Also speaking at the forum, the Minister of State for Aviation, Senator Hadi Sirika, said there was a huge potential and opportunity within the sector of aviation, especially looking at tourism connecting businesses, places and people.

He said it was very important for the sector to experience growth and development and make the Nigerian economy more robust.

Sirika said, “I believe that this time around, finding capital will not be difficult and government will encourage the sector with favourably policies targeted at also expanding the economy.”

“We can achieve a lot through tourism as a nation. Kenya for example is living on tourism which has empowered many indigenous companies. No doubt, a lot of countries are boosting their revenue through tourism.”

He said stakeholders in the country’s aviation sector were doing everything within their powers to ensure that the industry developed and increased capacity to provide the needed service in such a manner that is standardised.

“Aviation in particular is regulated worldwide and what we are doing is to ensure we align our self to provide services that are internationally recognised and accepted within international principle,” the minister added.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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Arla Food To Set Up Dairy Farm In Nigeria, Train 1,000 Dairy Farmers

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Arla Foods- Investors King

Arla Foods, makers of Dano Milk, has announced that it will build a state-of-the-art commercial dairy farm in Northern Nigeria where it plans to train and support up to 1,000 local dairy farmers as part of its long-term commitment to developing the Nigerian dairy sector.

The 200-hectare farm, scheduled to open in 2022, will have housing for 400 dairy cows, modern milking parlours and technology, grasslands and living facilities for 25 employees.

The firm said the farm is expected to produce over 10 tonnes of milk per day to supply locally produced dairy products to Nigerian consumers.

Managing Director, Arla Foods, Peder Pedersen said “there was a great need for nutritious food and dairy products to satisfy the growing demand from Nigeria’s fast-growing population.”

“This requires a complementary approach where imported food is crucial to ensuring food security while also supporting the government’s long-term agricultural transformation plan to build a sustainable dairy sector in Nigeria,” Pedersen said.

In 2019 Arla scaled up its commitment to developing a sustainable dairy sector in Nigeria with a new public-private partnership with the Kaduna State government.

It is the first of its size and offers 1,000 nomadic dairy farmers permanent farmlands. Arla is the commercial partner that will purchase, collect, process and bring the local milk to market.

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The Board of Chemical and Allied Products Plc (CAP Plc) Appoints Vitus Ezinwa as a Non-Executive Director

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Chemical & Allied Products (CAP) Plc - Investors King

The Board of Chemical and Allied Products Plc (CAP Plc) has appointed Dr. Vitus Ezinwa as a Non-Executive Director of the company effective from Thursday June 17, 2021, subject to the approval of the Company’s shareholders at the next Annual General Meeting.

The company announced in a statement signed by Ayomipo Wey, Company Secretary/General Counsel, CAP Plc.

Dr. Ezinwa is a seasoned business manager and human resource professional with experience in leading multinational corporations.

He is currently the Chief Operating Officer (COO) of UAC of Nigeria Plc (“UACN”) and previously, the Group Director of HR at UACN.

Prior to Joining UACN, Dr. Ezinwa worked as Group Human Resources Director for Promasidor Africa; Human Resources Director, CocaCola Nigeria & Equatorial Africa with responsibility for 10 countries and Human Resources Director for British American Tobacco, West & Central Africa covering Ghana, Benin, Niger & Togo.

Dr. Ezinwa was, until recently, the Group Human Resource Director for Tropical General Investments (TGI) Group.

He is a member of the Advisory Board of Afterschool Graduate Development Centre, member of the Institute of Directors and a Fellow of the Chartered Institute of Personnel and Development (CIPD) UK.

He is a co-founder and Director of HR Network Africa and was until 2014, a member of the Lagos Business School’s Advisory Board. He holds a Bachelor’s degree in Sociology/Anthropology from the University of Nigeria, Nsukka, MBA in Management from Lagos Business School, a Master’s in applied business research and a Doctorate in Business Administration, both from Swiss Business School, Zurich, Switzerland.

In addition to holding an executive director role on the Board of UACN, Dr. Ezinwa is a non-executive director of Grand Cereals Limited.

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Business

DLM Capital Group Retains Position as Best Structured Finance & Securitization Team in West Africa

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Sonnie Ayere - Investors King

DLM Capital Group, a prominent Developmental investment bank, has once again emerged as the best-structured finance and securitization team in West Africa at the just concluded Capital Finance International (CFI) 2021 awards.

The leading developmental investment bank has won the award in the last three years to affirm its position as the leading investment institution and asset manager in the region.

CFI awards seek to identify the contributions of individuals and organizations that contribute significantly to the advancement of economies and truly add value for all stakeholders.

DLM Capital Group creates bespoke business solutions for alternative financing and harnessing funds for growth. The group focuses on four key sectors — consumer credit, agriculture, microfinance, and education with a mandate to reduce poverty and improve living conditions for Africans, while mobilizing resources for the continent’s economic and social development.

In the past three years, our portfolio management team’s performance has remained consistent, and our clients have benefited immensely from exposure to our solutions, including the NMRC securitization deal and the DLM Primero BRT Securitization,” said Head of Corporate Communications and Marketing, DLM Capital Group, Chinwendu Ohakpougwu.

We are positioned to provide services to an expansive client base of retail, high net-worth and institutional customers. DLM Capital Group remains committed to constantly providing financial solutions that will enable our clients make a difference, and we are honored to be recognized once again as a reflection of the quality of support offered to our clients’,’ she added.

DLM has won recognition in West African capital markets, acting as a sole arranger to over 80 percent of structured finance transactions in Nigeria — and all the securitization transactions. It provides deal structuring, advisory execution and capital raising services across the Nigerian capital market.

The Institution recently launched an asset financing scheme and is preparing a venture into digital banking under its subsidiary, Sofri.

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