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Aero Contractors Expands Operations

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Aero contractors
  • Aero Contractors Expands Operations

Nigeria’s oldest commercial airliner, Aero Contractors, has expanded its operations by re-opening its old routes and introducing new ones with the acquisition of new fleet.

The airline also spots new-look cabin crew as it introduced uniform accessories to re-connect with its customers.

Speaking during the unveiling of the uniform accessories at Murtala Muhammed Airport terminal 2, Lagos (MMA2) at the weekend, Aero Contractors Cabin Crew Executive, Kudirat Bello, said the event was to promote and elevate Aero brand for a better service and seamless service delivery to its passengers.

“We are using this medium to tell the public that we are back and we are back for good. We are in business. We changed the uniform accessories such as the tie and scarf just to enhance the beauty of our uniform. We are telling our passengers to expect us in a big way.

“We have increased in fleet. Our service delivery will be impeccable this time around; we have significantly improved our service,” Bello said.

Also speaking during the event, the CEO of Aero Contractors, Captain Ado Sanusi said the airline is starting new routes and reinstating those routes that it suspended.

“When I joined we were doing eight flights a day, we were servicing only Abuja and Port Harcourt. In the past 24 months, we have increased to more than 30 flights daily. We were carrying close to 8,000 passengers a month then; now we are doing almost 33,000 passengers every month.

“We have included Kano to our routes. We introduced more frequencies into Abuja. We now operate Abuja-Asaba, Warri, Uyo and we are in the process of introducing Yola.

“We will operate Lagos-Yola, Abuja-Yola, Yola-Abuja and Yola-Lagos. This will open more routes for our passengers. Sokoto bound passengers going to Yola can come and join our Yola flight and those from Asaba can join our Yola flight.

“We are opening up Nigeria for our esteemed passengers. We believe that by the end of first half of this year, we should have opened new routes in the Eastern part of the country. We are looking at Owerri and Enugu and it will come very soon. Uyo was there before, so we are reinstating it.”

Speaking on its fleet expansion, Sanusi recalled that the airline started with one aircraft in the beginning of 2017 but has increased to four, adding that it intends to bring more airplanes.

“Our aim is to have a 15-aircraft airline. What we have done today is to tell passengers that we are back and we pride in safety and reliability, which is the best way to fly in Aero,” he said.

Aero Contractors recently launched a training school to end the dearth of skilled manpower in the aviation industry.

The training school was launched by the company after obtaining Approved Training Organisation (ATO) licence from the Nigerian Civil Aviation Authority (NCAA).

Aero had said the school would kick-off with the training of cabin crew and dispatchers and later other courses would be added to the curriculum, noting that it aims to be aviation training facility for the West and Central Africa. It also aims to partner with the Nigerian College of Aviation Technology (NCAT), Zaria and similar international institutions to give Nigeria the best skilled manpower for the industry.

The CEO of Aero Contractors, Captain Ado Sanusi, had said: “We have just got Aviation Training Organisation license. We have been on this for a long time because we wanted to get it right; we wanted to make sure we have a training organisation that is based on a solid foundation, which can be grown into a centre of excellence.

“Now, we are starting with two approvals on our ATO, which are flight dispatcher and cabin crew. We intend to grow that into a bigger school and eventually into a research centre.”

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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South Africa’s Largest Fund Administrator Goes Live with Temenos

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Temenos Multifonds Global Accounting Platform - Investors King

Temenos Multifonds Global Accounting platform enables Curo Fund Services to deliver seamless back office service; Curo is a third-party administrator for 3,000 funds with assets under management in excess of $150 billion; Agility and scalability of Temenos platform supports Curo’s large multi-client fund base and rapid pace of product evolution in the investment industry.

Temenos (SIX: TEMN), the banking software company, today announced that Curo Fund Services, South Africa’s largest third-party administrator, has gone live with Temenos Multifonds Global Accounting platform, completing the first phase migration of funds from its five legacy systems to a single instance of Temenos’ award-winning funds administration platform.

The move to Temenos’ platform has transformed Curo’s operating model by simplifying its architecture and enabling more automated exception-based processing to increase efficiencies, reduce costs and open up new opportunities for growth.

Curo provides investment operations and fund accounting services to life companies, asset managers and multi-managers. It employs 300 people and services 3,000 funds with assets under administration of more than $150 billion. Its clients include Sanlam and Old Mutual, South Africa’s largest asset managers.

With Temenos’ platform, Curo is able to deliver a seamless back office service with a higher degree of automation and straight through processing. This reduces risk and cost by reducing human processing and enables Curo to deliver a best-in class service to clients with automated information flows between the administrator and asset managers.

Having successfully completed a first phase migration of funds, Curo expects to transition all 3,000 funds to the Temenos platform during 2021.

Temenos’ platform has proved it can easily scale to meet the needs of Curo’s large multi-client fund base. It has also demonstrated it supports requirements specific to the South African market, including complex life and pension portfolio structures and reporting; market specific requirements for asset classes such as bonds and swaps; and South Africa tax reporting and regulatory reporting.

Curo is now looking ahead at international opportunities. Operating its business on Temenos Multifonds Global Accounting gives Curo the agility to expand geographically and support its local clients that operate in international markets.

Barri Maggott, Chief Executive Officer, Curo Fund Services, commented: “We are delighted to complete the first migration of funds to the Temenos platform. Temenos’ single, scalable platform delivers cost-efficiency benefits and provides the agility and flexibility we need to deliver a best-in-class service to our clients. With Temenos technology, we can more efficiently support our clients’ key asset servicing, position keeping, valuation and accounting functions. We can also support their rapid pace of product evolution to bring timely, creative investment offerings to their markets. In the fast-paced investment industry this gives Curo and our clients a competitive edge.”

Oded Weiss, Managing Director, Temenos, said: “We are delighted the largest fund administrator in South Africa is now live on the Temenos platform. Temenos is trusted by leading fund administrators and asset management firms around the world to administer, service and value assets for their global client base. Curo is building a world-class fund administration service and we are proud to support them as they continue to innovate and expand their offering on our platform.”

Temenos was awarded the highest ‘best in class’ status in Aite’s Matrix Evaluation of Investment and Fund Accounting Systems report. Temenos Multifonds Global Accounting also gained the highest status in five portfolio management and accounting solution categories by Adox Research.

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Appointments

Ardova Appoints Mr. Oladeinde Nelson-Cole as Company Secretary/General Counsel

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Olumide Adeosun Ardova - Investors King

Ardova Plc, an indigenous energy group, headquartered in Lagos, Nigeria, with extended operations in Ghana, has confirmed the appointment of Mr. Oladeinde Nelson-Cole as Company Secretary/General Counsel with effect from 1 April 2021.

This was disclosed in a letter signed by Olumide Adeosun, Chief Executive Officer, Ardova Plc.

Mr. Nelson-Cole is a lawyer with over 14 years of experience spanning Company Secretarial, Corporate Compliance and General Legal Practice. He is a graduate of the Lagos State University.

Prior to joining Ardova Plc, Mr. Nelson-Cole was a Senior Associate in the law firm of RouQ and Co.

As the Company Secretary/General Counsel, Mr. Nelson-Cole will continue to guide the Board of the Company in ensuring strict compliance with regulatory and statutory requirements.

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Heirs Oil & Gas Announces CEO and Board Appointments

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Tony Elumelu

Heirs Oil & Gas (HHOG), the leading African integrated energy company, has announced the appointment of Osayande Igiehon as Chief Executive Officer, effective May 4, 2021, together with a distinguished non-executive board, bringing together leading industry figures, with considerable global and regional experience.

Heirs Holdings Limited’s (HH) portfolio company, HHOG, completed the acquisition of OML17 in January 2021, in one of the largest oil and gas financings in Africa in more than a decade, with a financing component of US$1.1 billion. The transaction represents a further implementation of the HH Group strategy of creating the leading integrated energy business in Africa. Through a series of strategic portfolio holdings, HH is executing this strategy. Most recently, affiliate company, Transcorp made a US$300 million acquisition of Afam Power, increasing the Group’s installed electricity generating capacity to 2,000MW.

Mr. Igiehon, who joins from the Royal Dutch Shell (Shell), where he was previously a Vice-President with the Group in the Hague, Netherlands. He brings over twenty-seven years of experience and expertise in the oil and gas sector with Shell, where he held a series of senior management positions. Mr. Igiehon previously served as Chairman and Chief Executive Officer of Shell Gabon, where he led the successful turnaround of the operational, safety and financial performance.

HHOG is also pleased to announce the appointment of the following distinguished private sector and senior industry leaders to the Board:

  • Tony O. Elumelu, CON is the Chairman of Heirs Holdings, the United Bank for Africa (UBA), Transnational Corporation of Nigeria (Transcorp), and Founder of the Tony Elumelu Foundation.
  • Sally Udoma who previously served as general counsel for Chevron Europe, Eurasia, and the Middle East Exploration and Production. Previously, she was general counsel for Sasol Chevron Consulting Limited and managing counsel at the London Legal Service Centre for Chevron Global Upstream and Gas. She has also served as general counsel and general manager for Chevron Nigeria Limited.
  • Anil Dua is a founding partner at Gateway Partners Limited, a private equity fund specialising in dynamic growth markets including Africa, the Middle East and Asia. Prior to this, Mr. Dua worked for over thirty-five years with Standard Chartered Bank in Asia, Africa, Europe and the US, where he held various roles including Regional CEO West Africa and Regional Head of Origination and Client Coverage, Africa.
  • Ahmadu Kida Musa who previously served as Deputy Managing Director of Total Exploration and Production Nigeria Limited, has over thirty-two years of experience in the Oil and Gas industry and brings considerable expertise in Nigerian oil and gas.
  • Stanley Lawson currently serves on the board of Transnational Corporation of Nigeria Plc. He is Managing Partner at Financial Advisory & Investment Consultants Ltd. Dr Lawson previously occupied the position of Group Executive Director-Finance & Accounts at Nigerian National Petroleum Corp.
  • Samuel Nwanze is the Chief Finance Officer at Heirs Oil and Gas. Prior to this he was the Chief Investment Officer at Heirs Holdings responsible for investment and capital management.

Commenting, Mr. Igiehon stated: “HHOG represents an extraordinary opportunity, to create Africa’s first true integrated energy company, with a mission to ensure that Africa’s natural resources are directed toward value creation in Africa, powered by sustainable, robust and abundant African energy. I am excited to join the Heirs Oil and Gas leadership team and look forward to the opportunity to transform the energy sector, purposefully address Africa’s energy needs and improve the lives of people across Africa.”

The Chairman of the Board, Tony O. Elumelu, CON, stated: “I am delighted to welcome our new board members. We are building a role model institution for African businesses and our investment in human capital is a further strong demonstration of our intent. The regional and global expertise of our board members will serve to further drive value creation to our continent, as we execute our goal of becoming Africa’s largest, indigenous, integrated, energy company.”

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