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Stanbic IBTC Appoints Mediacraft Associates as New PR Agency

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  • Stanbic IBTC Appoints Mediacraft Associates as New PR Agency

Stanbic IBTC Holdings PLC, a member of Standard Bank Group and Nigeria’s leading end-to-end financial services group, has announced the appointment of Mediacraft Associates as the Group’s new PR agency. The appointment took effect from August 5, 2019.

The appointment of Mediacraft Associates followed the conclusion of a very competitive pitch process that featured some of Nigeria’s leading PR agencies.

By this appointment, Mediacraft Associates will be responsible for the PR and Reputation Management for all the 11 subsidiaries of the Stanbic IBTC Group.

Bridget Oyefeso-Odusami, Head, Marketing and Communications at Stanbic IBTC, said: “The PR pitch process was very thorough, transparent and competitive and we are happy to finally announce Mediacraft Associates as our new PR agency. In arriving at this choice, we considered not just their level of competence and professionalism, but also their experience and track record, especially in the financial services sector where we play. We believe that we made the right choice.”

John Ehiguese, Founder/CEO of Mediacraft Associates, expressed excitement and pleasure on winning the Stanbic IBTC business. He said: “The Stanbic IBTC business means a great deal to us for two major reasons. First, is the transparency and integrity of the entire pitch process. The second reason is that Stanbic IBTC is a brand that I have personally always admired from a distance. Both our organisations share a common set of core values, especially with regards to very high professional and ethical standards.

“We are happy to finally have Stanbic IBTC Holdings PLC on our client list. There is of course the challenge of having to service all the subsidiaries in the Group, but then we did not get to where we are today by running away from challenges. We have every intention of giving the Stanbic IBTC business our very best support and contributing our quota to making it the most admired and successful financial services group in Nigeria”, John concluded.

Stanbic IBTC also confirmed the re-appointment of Playhouse Communication as their digital agency. Playhouse has handled digital services for the Group since 2014.

Tolu Onile-Ere, Managing Director, Playhouse Communication, said: “On the back of being named Digital Agency of the Year 2019 by Marketing Edge, Playhouse is thrilled to be re-appointed to continue to work with Stanbic IBTC on their journey towards leveraging the digital space to service their customers, staff and the brand in general.”

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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Brands

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

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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

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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

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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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