- Heirs Holdings Board Appoints Nnorom Group CEO
The Board of Heirs Holdings wednesday announced the appointment of Mr. Emmanuel Nnorom as Group Chief Executive Officer.
Nnorom previously served as the chief executive of Heirs Holdings’ affiliate Transnational Corporation of Nigeria Plc and will join the Heirs Holdings’ Board, reporting directly to the Group Chairman, Mr. Tony O. Elumelu. The appointment will take effect from today.
According to a statement issued by Heirs Holdings, as Group CEO, Nnorom will provide day-to-day leadership at the company and will be responsible for execution of the group strategy for the proprietary investment firm, whose portfolio of investments includes power, oil and gas, financial services, hospitality, real estate and medical services, with a pan-African footprint of 20 countries.
On the new appointment, Elumelu, stated: “Emmanuel is a highly respected member of the Heirs Holdings executive management team and his success at Transcorp, with its multi-sector portfolio and his broader knowledge of Africa and commitment to our pan-African vision gained at United Bank for Africa (UBA) Plc, make him uniquely qualified for the position.
“Equally important, the creation of a CEO role at Heirs Holdings, demonstrates our continuing commitment to institutionalising effective corporate governance and ensuring that our investment in human capacity matches our ambitious growth strategy.”
At Transcorp, Nnorom was responsible for the success of the conglomerate’s businesses, including Transcorp Power, Transcorp Hilton Hotel, Transcorp Hotel Plc and Transcorp Energy.
Prior to Transcorp, he had held senior positions at Heirs Holdings and served as an Executive Director at UBA and Managing Director of UBA Africa, overseeing the group’s African subsidiaries.
He has also held the position of UBA Group Chief Operating Officer, with responsibilities for information technology, operations, corporate services, marketing and corporate communications, customer service, UBA Properties, human resources and regulatory affairs.
MILO Cereal Launches New Online Campaign, ‘Beast Mode – Activated’
MILO Cereal has launched its first major marketing campaign for its newly launched Protein cereal, via independent creative communications agency Connecting Plots.
Building on MILO’s brand message of fuelling active kids, the new campaign platform, ‘Beast Mode – Activated’, evolves the master brand’s focus on team sports.
This aims to celebrate how MILO Protein helps active kids unleash their own full potential, take their training to the next level and successfully compete with their peers.
The campaign launched on 16 April and will run across various social channels and online videos.
Connecting Plots creative partner Dave Jansen said the approach to the MILO Protein cereal campaign was about tapping into the teen mindset and being less overt and more authentic.
“Creating advertising that doesn’t feel like a ‘sell’ is the challenge when targeting teens,” Jansen said in a statement.
“We’ve shied away from the polished tropes of traditional, achievement driven sports ads to bring this to life in a way that hopefully gives life to a teenager’s desire to do their best, feel like they are stepping into their future adult self and showing how MILO Protein Cereal can help on that journey.”
Cereal Partners Worldwide’s marketing manager, Keara Deignan, added: “Aussies grew up with MILO cereal, it’s a staple of every Australian pantry.
“However, we’ve seen that as teens start to carve out their own identities, their consumption habits change so this product aims to keep pace with their active on-the-go lifestyle.”
Global Digital Consumer Spent $900B In 2020 – Mastercard
According to Mastercard’s latest Recovery Insights report, this amounted to an additional $900bn being spent in retail online around the world in 2020. Put another way: in 2020, e-commerce made up roughly $1 out of every $5 spent on retail, up from about $1 out of every $7 spent in 2019.
For retailers, restaurants and other businesses large and small, being able to sell online provided a much-needed lifeline as in-person consumer spending was disrupted.
Roughly 20-30% of the Covid-related shift to digital globally is expected to be permanent, according to Mastercard’s Recovery Insights: Commerce E-volution. The report draws on anonymised and aggregated sales activity in the Mastercard network and proprietary analysis by the Mastercard Economics Institute. The analysis dives into what this means by country and by sector, for goods and services, and within countries and across borders.
“While consumers were stuck at home, their dollars traveled far and wide thanks to e-commerce,” says Bricklin Dwyer, Mastercard chief economist and head of the Mastercard Economics Institute. “This has significant implications, with the countries and companies that have prioritized digital continuing to reap the benefits. Our analysis shows that even the smallest businesses see gains when they shift to digital.”
Venmo Launches Cryptocurrency Trading
Venmo, owned by PayPal, is launching cryptocurrency trading for four major coins: Bitcoin (BTC), Ether (ETH), Litceoin (LTC) and Bitcoin Cash (BCH).
This service set to be widely available within the new few weeks, Venmo’s 70 million+ customers will be able to buy, hold and sell crypto directly within the Venmo app. The launch is offering users access to in-app guides to help them to better navigate the cryptocurrency trading space and will encourage them to share their cryptocurrency experiences via the Venmo feed.
Venmo users will be able to buy as little as $1 worth of cryptocurrency and can use either funds from their Venmo balance or from a linked bank account or debit card to buy and sell their holdings.
Over 30% of Venmo customers have already begun to purchase cryptocurrency or equities, according to the company’s research into 2020 customer behavior. Of these, 20% began their purchase during the COVID-19 pandemic, suggesting that the public health and concurrent economic crisis has accelerated trends in digitization and experimentation with new financial technologies.
Support for cryptocurrency on Venmo is facilitated through a partnership with Paxos Trust Company, a regulated provider of crypto products such as its stable coin and other services. Venmo owner PayPal is also the holder of a conditional Bitlicense from the exacting New York State Department of Financial Services. Conditional licensees, such as PayPal, are required to pair off with firms that have already been granted full-blown licenses — as, in this case, has Paxos.
Just under a week ago, PayPal CEO Dan Schulman hinted at developments underway since the payments giant first went live with its crypto offering in the United States in November of last year. Schulman said that PayPal aims to support the use of crypto for everyday transactions and to tap into smart contracts and other, more expansive features of blockchain technology. He also pitched the company’s vision of leveraging crypto for the attainment of a more “inclusive economy,” in which “things will be done much differently than today.”
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