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Kia Motors Nigeria Unveils 2018 Kia Sportage

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KIA
  • Kia Motors Nigeria Unveils 2018 Kia Sportage

Kia Motors Nigeria unveiled the all-new Kia Sportage at a launching and media parley with motoring journalists, held at its showroom, in Victoria Island, Lagos, during the week.

The unveiling of the all-new 2018 Kia Sportage marks one of the most anticipated moments for Kia and its teeming customers in 2017, officials of the company said.

The fourth-generation new Sportage compact SUV is a show-stopper, considering its attractive design, a range of advanced technology features and greater quality.

The all-new Sportage builds on the success of its predecessor model, having been revamped with an innovative and sophisticated package and premium technology features.

Kia’s new interior is significantly upgraded with high quality materials and modern design to improve comfort and convenience of passengers and drivers. Engines and transmissions have also been updated, ensuring enhanced efficiency and performance​.

According to the Group Managing Director, Kia Motors Nigeria, Jacky Hathiramani “the development of the next-generation Sportage began with an in-depth analysis of market trends to best suit the needs of consumers. The thoughtful design, innovative packaging, premium materials, powerful engine and state-of-the art technology all translate into a stunning modern masterpiece of SUVs.”

Hathiramani stated that, “we are confident that the all-new Kia Sportage will take the entire auto industry by storm, not least because of its brave and handsome design but also its reengineered technology for optimum performance.”

He said Sportage boasts of a high, comfortable ride, acres of space for stuff, kids, pets, and off-road ability.

The new model is a bit longer than the old one – 1.6 inches, with a wheelbase 1.2 inches longer – so there is more room in the back while the floor is a bit lower making for easier entry. Sportage is the new king of the urban jungle with more than enough power to safely and smoothly navigate city roads along with a perfect combination of contemporary style and sporty appeal.

Olu Tikolo, Vice President, Kia Motors Nigeria pointed out that the aesthetic improvements in design and improved functionality of the all-new Sportage is expected to once again accelerate Kia’s market progress and open a brand new chapter in the company’s history of pioneering the compact urban SUV segment.

The anticipation and excitement for the fourth generation Sportage is expectedly high and we cannot wait for the world to enjoy the dynamic contemporary sophistication of our all-new compact SUV, he said.

Bagging the prestigious iF Design Awards immediately after its launch in the US, the extensively developed compact Kia Sportage has continued to receive praise for overall design quality, innovation, environmental impact and safety.

“The new Sportage target markets are the go-getters who need a vehicle to match their confident and active lifestyle. The new model features styling changes which highlight its striking bold appearance and gives an ultimate visual appeal.

It is adorned with the Kia’s hallmark “tiger-nose” grille, HID headlights, LED fog lamps, LED taillights and 17-inch wheels. The overall length of the car has increased while the width remains the same.

Also, the car’s wheelbase has been stretched for a more spacious interior. Under the hood, the Sportage has a 2.0litre engine on the LX and EX with 185hp and 237Nm of torque.

Jimoh Olawale, Marketing Manager, Kia Motors Nigeria stated that the new generation (Sportage) has more passenger room and cargo volume, with a distinctive exterior design.

Speaking at the event, Olawale stressed that the all-new Kia Sportage is made in Nigeria and tropicalized for Nigerian roads. The Kia Sportage is all about offering you more that you’d expect. More breathtakingly distinct design, cutting edge technologies, advanced features to enhance your comfort and safety.

The Sportage is the perfect combination of sportiness and style with distinctive and innovative design and truly striking features that offers pure refinement, commanding side profile, muscular stance, sculpted front bonnet and the Kia distinctive signature grill gives the Sportage an unmistakably sporty appearance, he said.

The Kia Sportage distinctive design and head-turning features make this ultra-athletic car hard to miss. Truly sporty inside and out, the sleek upper dash, soft-touch materials like leather seats with grey stitching make sure you stay beautifully comfortable.

Kia’s uniquely configured cabin makes things as comfy for the passengers as well as the driver. With spacious dimensions and reclining rear seats, every seat will feel like the best one. For a guaranteed flexibility, the Sportage’s seat are also able to move and fold to create an almost flat floor.

With and inspiring technology for new levels of safety, All-new Sportage offers a whole new dimension of technological assistance to help make sure you always manoeuvre with absolute peace-of-mind and comfort.

The SUV comes with Auto Cruise Control (ACC) Parking Assist System (PAS) and Vehicle Stability Management (VSM) technology Cutting-edge technology for maximum driving stability, the automatically engaging all-wheel drive (AWD) system senses road conditions, wheel speed and acceleration, then applies the right amount of torque to the front and rear wheels for optimum road grip.

Advanced High Strength Steel and hot-stamped steel 51% AHSS application makes the all-new Sportage even stronger and lighter with benefits that include better handling and improved fuel efficiency. Hot-stamped components in 14 core stress areas help provide maximum crash protection, better driving dynamics, and a quieter ride.

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

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Fintech

OPay Urges Customers to Complete BVN, NIN Verification Following CBN Directive

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Opay

OPay, a prominent financial services firm, has called upon its customers to finalize the verification of their accounts by linking their Bank Verification Numbers (BVN) or National Identity Numbers (NIN) in accordance with the recent directive from the Central Bank of Nigeria (CBN).

The CBN, in a circular dated December 1, mandated all deposit money banks to enforce a ‘Post no Debit’ restriction on accounts lacking BVN or NIN.

Accounts without BVN would be placed under a ‘Post No Debit or Credit’ status from March 1, as outlined in the circular jointly signed by Chibuzo Efobi and Haruna Mustapha, Directors at the Payments System Management Department and Financial Policy and Regulation Department, respectively.

OPay affirmed the CBN’s directive and emphasized the necessity for account holders to complete the verification process.

Dauda Gotring, the Managing Director/Chief Executive Officer of OPay, emphasized the importance of a secure and seamless experience for customers.

He encouraged users to comply with the verification process, reassuring them of the company’s commitment to a smooth process and 24/7 customer support.

OPay provided multiple channels for customer assistance, including in-app self-service, WhatsApp, phone lines, and social media platforms.

The company’s commitment to inclusivity and technological advancement underscores its mission to enhance financial services accessibility across Nigeria.

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Telecommunications

MTN Group Ltd. Reports 90% Plunge in Profit Amid Nigeria’s Currency Woes

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MTN

MTN Group Ltd., Africa’s largest wireless service provider, has announced a 90% decline in its full-year profit following the plunge in Nigerian Naira.

The company revealed that its earnings per share for the year ending December fell to a range of 1.07 rand to 3.21 rand (approximately 6 to 17 US cents), a significant drop from 10.71 rand recorded in 2022.

The Nigerian naira, which experienced a 49% depreciation in 2023 and an additional 44% decline this year, has emerged as a significant factor impacting MTN’s financial performance.

As one of the world’s worst-performing currencies against the dollar, the naira’s instability has created a volatile economic environment, prompting concerns among international businesses operating in Nigeria.

The currency crisis, stemming from a shortage of dollars and exacerbated by policy missteps and corruption, has led to an exodus of multinational corporations seeking to repatriate earnings from Africa’s largest economy.

Nigeria, with its burgeoning young population and growing tech sector, has struggled to address economic dysfunction despite its vast natural resources.

MTN Group Ltd., which boasts approximately 77 million customers in Nigeria, historically derives a substantial portion of its earnings from the country.

However, the company’s shares plummeted by as much as 7.2% in early trading following the profit announcement, reflecting investor concerns over the challenging operating environment.

Despite the bleak financial report, MTN highlighted positive metrics such as a 45% increase in data traffic and a 49% surge in mobile money transaction volumes.

However, the company refrained from providing guidance on its earnings margins, further adding to uncertainties surrounding its future financial performance.

Analysts underscored the importance of regulatory stability and economic reforms in Nigeria to restore investor confidence and mitigate the impact of currency fluctuations on companies like MTN.

As businesses navigate the economic landscape, the resilience of Nigeria’s currency and regulatory framework remains a critical concern for investors and industry stakeholders alike.

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Leatherback Set for International Growth as EFCC Drops all Fraud and Misconduct Allegations

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Nigeria’s Economic and Financial Crimes Commission (EFCC) has dropped all allegations of fraud and misconduct against Leatherback, a leading financial services technology company, and the company’s CEO, Toyeeb Ibrahim Ibitade.

In November 2023, EFCC announced that it had been made aware of the possibility of fraudulent activities on the Leatherback platform, leading to an investigation into the company’s operations to establish the facts. Cooperating fully with EFCC and working transparently with the organisation’s officials to provide a forensic view of its operations, Leatherback was able to unequivocally prove its innocence, leading the EFCC to drop all allegations and take down all previous communications on its website and social media platforms (Facebook, Instagram, and Twitter) around the matter.

Leatherback supported the EFCC investigation by making over 5,000 printed documents available to officials to enable as much clarity as possible. Leatherback also filed Suspicious Activity Reports (SARs) in the UK and Nigeria.

According to Toyeeb Ibrahim Ibitade, CEO of Leatherback, “I am relieved to see the end of this arduous episode, but I am even more delighted to see that myself and Leatherback, as an organisation, have been completely cleared of all wrongdoing. With this episode firmly behind us, we are poised to accelerate our mission to provide a single access point that empowers individuals and businesses to be truly global, delivering best-in-class financial, payment, and commerce solutions that remove barriers to global growth and mobility for all citizens of the world.”

Headquartered in London, Leatherback is regulated in the United Kingdom, Nigeria, Ethiopia, Canada, India, Pakistan, Nepal, and Sri Lanka, enabling the platform to serve customers across a wide range of markets effectively. Tens of thousands of individuals and businesses already use the platform to support business and lifestyle opportunities every day. Leatherback is also FCA Authorised, PCI DSS Compliant, and ISO Certified.

About Leatherback

Leatherback offers financial services to businesses and individuals in multiple countries with no restrictions. Users can access up to 15 currencies from 21 countries, including NGN, GBP, INR, EUR, USD, and many other currencies. Users can also send and collect money locally and internationally, with invoicing, analytics, and permissions features available for businesses.

For more information, please visit: http://www.leatherback.co

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