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Etisalat Upbeat of Profitable Financial Year

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Etisalat

Etisalat Upbeat of Profitable Financial Year

Despite the harsh business environment crippling growth and profitability of businesses in Nigeria, Etisalat Nigeria has expressed confidence of achieving a profitable financial year while also assuring its loyal and esteemed customers of quality and innovative products in 2017.

The Head of Sales and Distribution, Etisalat Nigeria, Mr. Oluwatosin Olulana, explained that 2016 was a very challenging year for the business community, but stated that with innovation and quality partnerships with its channel partners, the company has continued to wax stronger providing quality and better services to its numerous customers in the country.

Olulana during the company’s annual channel partner conference, said: “Despite the challenging business environment, we believe innovation is key to business profitability and sustainability. We drive our businesses through creating innovative products. Innovation is about doing things differently. 2016 was very challenging, but in terms of initiatives that we deployed and the resolve of our channel partners, we were able to do very well in terms of our performance. Our channel partners are very happy about our performance.”

In his words, “Today is our annual channel partner conference which sets the tone for another business year and also to appreciate our channel partners because they are really important to us. The customer is the major thing for us at Etisalat Nigeria. Everything we do in Etisalat is all about the customers. We always look for ways to impress our customers to satisfy their needs beyond expectation. Customers should expect lots of innovative products and best customer service from us in 2017. Right now we are ahead in terms of experience and we intend to maintain that lead.”

A Virtual Airtime Distributor, Etisalat, Mr. Samson Isa, who has been doing business with Etisalat in the past five years, expressed delight partnering Etisalat, stressing that in a challenging economy like Nigeria, there are lots of opportunities for businesses if only they deploy innovative strategies to remain competitive.

“The year under review was challenging, but out of every challenge, there is an opportunity. We as virtual distributors, there are opportunities for us to grow, because the key value proposition for virtual airtime distribution is convenience and we have seen growth in the part of the business. We want to thank Etisalat for their support and we see more growth this year and years beyond,” he said.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Social Media

Meta Celebrates As Threads Platform Records 275m Active Users Monthly

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Threads

Meta’s social networking platform, Threads has recorded a whopping 275 million monthly active users.

The platform, in its bid to rub shoulders with X (formerly Twitter), described the feat as a milestone and closure to its competitive dream.

Adam Mosseri, Head of Threads and Instagram, made this known while expressing gratitude to users and acknowledging areas for improvement on the platform.

Recounting how Threads has been faring in the social media market since it was launched by Meta in July 2023 as a competitor to X, Mosseri submitted that a whole lot of transformation has taken place.

He explained how the platform achieved impressive sign-ups, reaching 100 million users in less than a week, saying engagements have been rising ever since.

Recalling how Meta’s CEO Mark Zuckerberg reassured investors in April that Threads’ user growth was on track with his expectations, Head of Threads Instagram expressed optimism that the platform’s users would increase in months to come.

Zuckerberg also noted that the open internet server is a key feature in Threads and that it has contributed in making users accept the platform.

It would be recalled that in the months following its launch, Meta added various features to enhance the platform and address user needs.

The platform also got attracted to users through its concentration on integrating with ActivityPub and the decentralized protocol powering networks like Mastodon.

Investors King reports that Nigerians, known for their enthusiasm in embracing new ideas, especially those related to money and influence, are no exception to the increasing number of Threads’ active users.

Some of Nigerian users of the social media app have highlighted enhanced communication, creative expressions that the app’s features provide, opportunity for businesses and influencers to thrive, and empowerment of voices as merits of the platform which have contributed in endearing the app to more users across the globe.

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E-commerce

Nigerians To Enjoy 85% Discount On Groceries, Phones, Home Appliances, Others As Konga Begins Yakata Black Friday Sale

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Konga

Consumers in Nigeria now have opportunity to get 85 percent discount on products of their choice in this year’s yuletide as Konga, Nigeria’s leading e-commerce group, has officially commenced its highly anticipated annual Konga Yakata Black Friday sale.

The offer that was launched on Friday, November 1st, will run through November 30th, 2024.

The Konga Yakata Black Friday campaign is a unique opportunity for Nigerian consumers to access premium products at unbeatable prices, while also benefiting from Konga’s trusted logistics and payment solutions. Shoppers are encouraged to visit Konga.com to take advantage of these exceptional offers throughout November.

According to the management of the firm, this year’s Yakata sale brings unbeatable offers across all Konga subsidiaries, including Konga Online, Konga Retail, KongaPay, Konga Travel and Tours, Konga Health, and Konga Logistics.

Touted as the “Biggest Sale of the Year,” Konga Yakata Black Friday offers consumers the opportunity to enjoy up to 85% discount on a wide range of products across categories, including groceries, phones and accessories, home appliances, fashion, and beauty.

It is believed that the sale campaign will usher significant relief to shoppers as Konga moves to cushion the effect of the nation’s harsh economic realities.

As a trusted and authorized retailer of leading Original Equipment Manufacturers (OEMs), Konga provides shoppers with unmatched access to genuine products from renowned brands such as Starlink, L’Oreal, Apple, Samsung, Philips, Zinox, Nokia, Hisense, Oppo, Infinix, Lenovo, and HP.

It further asked consumers to expect not only the convenience of authentic goods but also a distinct pricing advantage on these premium brands.

The Yakata campaign also supports Nigerian small and medium-scale enterprises (SMEs) by driving consumer demand through nationwide awareness and promoting e-commerce adoption.

It indicated that Konga has invested significantly in creating awareness for Yakata, enabling more Nigerians to leverage online shopping for their essential needs and lifestyle desires.

For this year’s offer, the deals do not end on Konga.com alone as Konga, through its subsidiaries, provides exclusive deals to customers during the Yakata period:

Konga Travel and Tours affiliates and top clients were asked to watch out for perks including free weekend hotel accommodations, and a zero-service charge for corporate clients who book travel during the Yakata campaign.

Konga Health is offering exciting discounts on renowned brands like CeraVe and on your favourite beauty and health products. Customers can also use your favourite Konga Health influencer’s voucher code to unlock even more exclusive deals and freebies! Stay tuned to Konga Health’s social media pages for the latest updates and announcements.

KongaPay is offering shoppers who use KongaPay for purchases on Konga.com will receive a 10% discount, with additional benefits like 10% off on bill payments including electricity, cable TV, and data.

It added that users who maintain a savings balance of at least NGN50,000 are eligible for a 15% annual interest rate. As part of a special promotion, shoppers who use KongaPay also stand a chance to win cash prizes in a 100k giveaway. To qualify, customers simply need to download the KongaPay app and create an account in minutes.

Assuring customers of a seamless delivery system, Konga Logistics noted that it offers delivery at competitive, discounted rates. Konga Logistics assured that a seamless shopping experience with reliable and affordable delivery options for all purchases made during the Yakata season.

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Telecommunications

MTN Nigeria Strengthens Working Capital By Raising N50bn In New Commercial Paper

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MTN

MTN Nigeria Communications PLC (MTN Nigeria) has disclosed plans to raise N50 billion through its latest issuance of commercial paper (CP) to boost its working capital.

The plan is under N250 billion Commercial Paper Issuance Programme.

Not only that this Series 11 and 12 CP issuance is expected to strengthen MTN Nigeria’s short-term working capital, it will also diversify its financing base.

A notification to the Nigerian Exchange Limited and the investing public further revealed that this proposed issuance is part of MTN Nigeria’s ongoing strategy to tap the debt market as a flexible funding source to meet immediate financial needs.

It builds upon the company’s series of CP issuances in the past year as it pursues a robust approach to balance its capital structure.

The funds are expected to support the company’s operational and growth requirements as it seeks to expand its infrastructure, improve service delivery, and cater to the increasing demand for telecommunications and digital services across Nigeria.

MTN’s financial statement as of September 2024 suggests it has negative working capital of about N1.49 trillion

The cash flow is necessary in order to enable the company meet cash flow demands and service short-term debt without over-relying on long-term financing

This approach provides financial flexibility, allowing MTN Nigeria to manage interest costs and adjust its debt profile in line with operational cash flow, which is critical for a company with significant external loans.

The issuance also serves the broader purpose of diversifying MTN Nigeria’s financing sources, reducing reliance on bank loans, and maintaining a balance between short- and long-term debt.

This financial strategy not only enhances MTN’s liquidity but also positions it to better withstand the economic challenges in Nigeria’s volatile business environment.

While the company has yet to disclose specific terms of the Series 11 and 12 notes, further details are expected to be shared in the coming weeks.

 

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