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Ethiopian Airlines Offers to Partner Nigeria on National Carrier



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  • Ethiopian Airlines Offers to Partner Nigeria on National Carrier

Ethiopian Airlines has expressed its preparedness to partner Nigeria on the federal government’s planned national carrier.

The airline said a country with such huge passenger traffic needs government-backed airline, saying that it has all it takes, including technical know-how, equipment and personnel to partner with the planned carrier.

Ethiopian Airlines Managing Director, International Services, Mr. Esayas Haliu, who spoke to a team of Nigerian journalists in Addis Ababa, said the airline has succeeded in all it had established with many countries in Africa.

Hailu, said as the largest economy in Africa, with such huge population, which he described as most precious, Nigeria truly deserves a national carrier.

“There have been attempts to off-load some bids for foreign airlines by Nigerian government, Ethiopian has always been participating in that but so far, we have not been picked but we are able, capable and ready and whenever the vacancy is created, we are ready to come for any partnership.

“Secondly, Nigeria has been a very good host and by their volume of the population which is demography dividends, the most precious resource is the human resource, the largest economy, the mobility is very high both domestically and foreign, for that; Nigeria really requires a national carrier, we wish them success, if we are required to support, we are ready and willing to do that, any partnership that arises from that is most welcome and we are in expectation of that”, he said.

The East African carrier also hinted that it plans to introduce a second frequency into Lagos, through the Murtala Muhammed International airport, adding that it plans to connect the United States of America from Nigeria, subject to approval by the Nigerian government.

On the Single African Air Transport Market (SAATM), Haliu said the success of the treaty was the key to reducing the dominance of international mega carriers, which have 80 per cent of the African travel market and enhancing connectivity in Africa.

He noted that Africa has only three per cent of the global air travel market and 80 per cent of that market was dominated by international carriers, leaving African carriers with only 20 per cent.

According to him, the full implementation of SSATM would free the market from mega carriers, as the treaty guarantees access to African airlines to all signatory nations.

“When Single African Transport management which is advocated by African Union commission, when that one comes people think that only a few airlines will benefit from that, No!

“As we are speaking, 80 per cent of African traffic is taken by non-Africans, so all of us put together we have only 20 per cent so we need to attack that 80 per cent.

“We need to eclipse, 80 per cent should be African airlines and 20 per cent should be non-African airlines. This is our continent, that is our traffic and so for more African countries to come, the traffic, which is not in the hands of the African airlines is much more.

“So we have a lot more to play with, it’s not as if we have to scramble that same 20 per cent. No! We don’t settle for that and we want to contribute more than three per cent of the global air traffic which we are doing now, it’s only three per cent.”

He said it was in the bid to make such major contribution that Ethiopia Airlines is going to every African country and helping to establish regional national carriers.

According to him, if SAATM was fully implemented one of its benefits would be to redistribute wealth by reducing capital flight from Africa to non-African countries.

“All this effort is for African airlines to grow, thrive and dominate the 80 per cent of the market so that employment, taxes, revenue, opportunity the capital sinks in the African continent and does not fly away.

He, however, expressed dissatisfaction about the uncooperative stance of some African countries preferring to sell traffic rights to non-African countries at the detriment of African carriers.

“Right now, many of the African nations have been given traffic rights to non -African nations more and when fellow Africans ask they deny them services.

“So, SAATM is a very good solution for Africa to put its hands together, organise itself together and to thrive, so SAATM is the best thing that can happen to Africa because air traffic connectivity is a tool for economy, cultural exchange, tourism, regional tourism as well as people and goods transaction,” he said.

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


Eat’N’Go Expands To East Africa, Projects 180 Stores By Year End



In a bid to further extend its tentacles beyond the West African market, Eat’N’Go limited, one of the leading Quick Service Restaurant (QSR) operators in Nigeria and master franchisee for world-class food brands – Domino’s Pizza, Cold Stone Creamery, and Pinkberry Gourmet Frozen Yoghurt, announced its expansion into the East African market.

This development comes after the successful acquisition of the franchisee which operated Cold Stone Creamery and Domino’s Pizza in Kenya. This acquisition will see Eat’N’Go limited become the largest Domino’s pizza and Cold Stone Creamery Master Franchisee in Africa with operations in Nigeria and Kenya.

Since its entrance to Nigeria in 2012, the QSR company has grown exponentially and has continuously nurtured the drive to extend its footprint across the African market. This acquisition provides them their first foreign market expansion, making them a Pan African company with a total number of 147 outlets across Africa and a projection to reach 180 stores by end of 2021.

Group Chief Executive Officer and Managing Director Eat’N’Go Limited, Patrick McMichael said that expanding into East Africa represents a very exciting time in the growth of the organization and also a strategic investment for the firm and its stakeholders. “Over the years, we have fostered the mission to not just bring the best QSR brands to Africa, but to directly impact on Africa’s economy and we are glad we are finally on the way to making this happen. Studying the growth of the Kenyan market in the last couple of years, we are convinced that now is the time to extend our footprint into the country.”

“We are very thrilled about this expansion as this move avails us more opportunity to provide Jobs to more Africans, especially in times like this. We remain thankful to all our customers, partners, and stakeholders who have supported us this far and we are more than ready to strengthen our dedication in satisfying the needs of our customers” Patrick added.

Eat’N’Go has over the years maintained its position as the leading food franchisee in Nigeria. As it expands its presence to other parts of Africa, the organization also places a strong focus on the quality of its products and services of all its three brands. The expansion to this new region is in line with the company’s plan to reach 180 stores across Africa by the end of 2021.

The milestone achievement and development will better position the company in its contribution to Nigeria and Africa’s economy. Currently home to over 3000 staff members across Africa, the company is committed to continuously provide job and business opportunities across the continent.

Eat’N’Go launched in 2012 in Nigeria with the vision to become the premier food operator in Africa. Today, the company has over 147 stores in Nigeria and Kenya and it continues to deliver on this promise by successfully rolling out the globally recognised brands Cold Stone Creamery and Domino’s Pizza across Africa. The company continues to expand its presence in key markets by fusing company goals with new strategic development goals and is projected to reach 180 stores across Africa by end of 2021.

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Shoprite Exit: LCCI Explains Challenges Hurting Business Operations in Nigeria




Following the recent announcement of Shoprite, a leading South Africa retail giant, that it is leaving the Nigerian market due to harsh business environment and tough business policies, Dr Muda Yusuf, the Director-General, Lagos Chamber of Commerce and Industry (LCCI) has explained some of the challenges responsible for such decision despite Nigeria’s huge population size.

Yusuf said while such decision is negative for the Nigerian economy, several factors like harsh business environment could have forced the company to make such decision. He said it also could be due to intense competitive pressure.

He said, “Shoprite is an international brand with presence in 14 African countries and about 3,000 stores. The comparative analysis of returns on investment in these countries may have informed the decision to exit the Nigeria market.

“The opportunities for retail business in Nigeria is immense. But the competition in the sector is also very intense.

“There are departmental stores in practically every neighbourhood in our urban centres around the country. There is also a strong informal sector presence in the retail sector. It is a very competitive space.”

According to the Director-General, there are also important investment climate issues that constitute downside risks to big stores like Shoprite.

He said, “These include the trade policy environment, which imposes strict restrictions on imports; the regulatory environment, which is characterised by a multitude of regulators making endless demands.

“There is also the foreign exchange policy, which has made imports and remittances difficult for foreign investors. There are challenges of infrastructure which put pressures on costs and erodes profit margins.”

The LCCI boss added, “But we need to stress that Shoprite is only divesting and selling its shares; Shoprite as a brand will remain. I am sure there are many investors who will be quite delighted to take over the shares.

“It should be noted that there are other South African firms in Nigeria doing good business. We have MTN, Multichoice, Stanbic IBTC, and Standard Chartered Bank, among others. Some of them are making more money in Nigeria than in South Africa.”

He added that some sectors are more vulnerable to the challenges of the business environment than others.

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Afrinvest Appoints Mrs. Onaghinon As COO



Afrinvest West Africa Limited, has appointed the former head of public private partnership agency of the Edo State, Mrs Onoise Onaghinon as its chief operating officer.

Onaghinon joined Afrinvest in 2003 as an analyst in the firm’s investment banking division, rising through the ranks to become an associate, then vice president and eventually executive director & head of investment banking.

She is a seasoned veteran in the Nigerian capital markets and investment landscape with over 18 years of experience in capital raising, mergers and acquisitions, and restructurings across many industries.

In 2017, Onaghinon took a sabbatical from the Firm to head the Public Private Partnership Agency of the Edo State Government. Having acquitted herself creditably in the public sector, she has rejoined the Firm to resume as the new COO.

Speaking on the appointment, group managing director of Afrinvest, Ike Chioke, said: “over the years, Onaghinon has demonstrated great leadership, professional excellence and outstanding client commitment in driving the firm’s business units, particularly our investment banking division. We are delighted to have her back and we look forward to leveraging her cross-disciplinary experience across the Afrinvest group”.

In her new role, Onaghinon will oversee human resources, legal & compliance, internal control and general services while leading the firm’s initiatives to improve efficiency across its subsidiaries.

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