Upon receipt of all necessary approvals from the National Pension Commission (PenCom), AXA Mansard Pensions Limited has announced a rebrand and change of name to Tangerine Pensions Limited.
This follows completion of the acquisition of 100% of AXA Mansard Pensions Limited’s equity by Eustacia Limited, a company controlled by Verod Capital Management Limited.
Verod is a leading West African private equity firm, focused on creating economic value across Africa. The firm is active across various sectors, including, life and general insurance, other financial services, light manufacturing, consumer goods, business services, agriculture, education, and healthcare.
Verod is backed by a rich blend of mainly foreign and local institutional investors, including pension funds, sovereign wealth funds, insurance companies, asset management firms, fund of funds, family offices and development finance institutions.
AXA Mansard Pensions was incorporated as Penman Pensions Limited in 2006 and AXA Mansard Insurance Plc became the majority shareholder of the company from 2014 until 2020. As of today, 26th April, 2021, the organization, which has undergone a rebranding and name change process, will now be referred to as Tangerine Pensions Limited.
Speaking on the rebrand Dapo Akisanya, CEO, Tangerine Pensions Limited (formerly AXA Mansard Pensions Limited), said: “The conclusion of this acquisition after receiving all regulatory approvals, has put the company in a position to build an even more successful organization, with our future growth anchored on delivering impeccable customer service and driven by best practices. Our change of ownership and rebranding give us an opportunity to do so much more for our customers, whilst focusing on being the premier pension provider, availing customers multi-channel access to superior retirement solutions. We are committed now, more than ever, to building life-long financial partnerships with our clients, giving them access to an assured future”.
Tangerine Pensions Limited is a leading Pension Fund Administrator managing a number of approved employee schemes including the traditional RSA and Retiree portfolios. The company has a dedicated team of professionals serving over 89,000 customers with Assets under Management of over ₦74 billion.
Chivita Crowned “Outstanding Juice Brand of the Decade” at MarketingEdge Excellence Awards
Dangote Group Reigns Supreme as Nigeria’s Most Valuable Brand
The Dangote Group has proudly asserted its position as Nigeria’s most valuable brand, achieving a remarkable aggregate score of 86.2 percent on the Brand Strength Measurement (BSM) Index, a meticulous evaluation conducted by Top 50 Brands Nigeria as part of its comprehensive 2023 Top Brand Perception Assessment.
During a much-anticipated media briefing held in Lagos on Wednesday to unveil the 2023 Top 50 Brands Nigeria list, the organization lauded Dangote for its unwavering commitment to excellence, which has solidified its stature as a premier brand within the nation.
The conglomerate revealed that MTN, a formidable contender in the market, secured a closely contested second place, boasting an impressive 85 BSM index score.
This year’s rankings saw Airtel Nigeria and Globacom securing the third and fourth positions, both earning significant BSM index scores of 77.9 and 77, respectively.
BUA Group made its inaugural appearance in the Top 10, capturing the attention of industry observers with a noteworthy BSM Index score of 70.8.
The illustrious list of the Top 10 brands further includes Access Bank, Zenith Bank, Coca-Cola, GTCO, and First Bank, each of which has maintained its exceptional reputation and resonance within the Nigerian market.
Commenting on the outcomes of this year’s assessment, Taiwo Oluboyede, CEO of Top 50 Brands Nigeria, said, “A brand is akin to a person, embodying all the traits that define its personality to the audience. When you hear a person’s name, you’re likely not merely recalling their appearance or attire, but rather who they genuinely are and the significance they hold for you.”
Oluboyede continued, “One may profess to be the best in the world and may even invest in extensive advertising to attract attention. However, the true perception of that individual is ultimately shaped by one’s personal experience. Likewise, the perception of a brand can evolve from favor to disfavor, or vice versa. This dynamic holds true for both individuals and brands alike.”
SnackFix From Bühler Adds Value to Local Grains in Nigeria and Boosts Food Security
The SnackFix small-scale cereal bar production system from Swiss technology group Bühler is the ideal solution for small and medium enterprises (SMEs) to add value to locally produced grains in Nigeria and assist the country to address food security, says Manuel Murrenhoff, Managing Director, Bühler Nigeria.
On-the-go snacking consumption in Nigeria is rising steadily, presenting opportunities for SMEs to enter the market. “In terms of bars, fruit, and sweet snacks alone, this market segment is expected to exceed half a million tonnes by 2025,” says Murrenhoff. The main driver is the burgeoning population, estimated at 223.8 million in 2023, a 2.41% increase over 2022, and expected to grow to 377 million by 2050.
“The economically active part of the Nigerian population is quite sizeable and very mobile, which is boosting on-the-go snacking consumption,” says Murrenhoff. In addition, with half of the population living below the poverty line, there is more than ever the need to drive consumption of the full range of locally grown grains to keep final product prices in check.
“With the price of wheat projected to rise to record heights, Nigeria cannot possibly feed the growing population by importing wheat and other products. On the one hand, there is a shortage of forex and on the other hand, prices are escalating globally. That is where innovation, using local grains, plays an important role in food security, especially as these can be successfully incorporated into ready-to-eat foods,” says Murrenhoff.
Iyore Amadasun, Sales and Channel Business Manager at Bühler Nigeria, says that Bühler’s Snackfix, designed for food producers seeking a share from the on-the-go snack segment, promotes the processing of locally sourced grains for snacks while maintaining the highest food safety standards.
SnackFix is a multi-grain solution that allows SMEs to innovate across the spectrum of locally produced grains in Nigeria. The technology presents an entry-level, plug-and-play solution that is compact, cost-effective, and easy to commission and operate.
SnackFix includes a continuous mixer, a cooling tunnel, and a cutting system, all in one – everything needed for quality production. The combination allows SMEs to manufacture a huge variety of cereal bars at a volume of up to 130 kg per hour.
Customers benefit from Bühler’s experience in product development using a wide range of locally produced grains including, for example, sesame seeds, cashews, and peanuts. “We can help newcomers in the market achieve the best recipe to satisfy functional and indulgence consumer requirements in this segment and then supply them with a customised solution,” says Amadasun. In addition, Bühler has an innovation centre and laboratory in Switzerland to assist with different formulations and product development.
“The ready-to-eat market is of strategic importance to Nigeria, as it can adapt local grains for snacking consumption, promote healthy eating habits, and at the same time assist with Food Security,” says Amadasun.
With offices in Lagos and Kano, Bühler Nigeria is a leader in grain and food processing and offers solutions for grain drying and storage, flour milling, rice milling, cacao and chocolate processing, wafer and biscuit, pasta and noodles, feed, and aqua feed milling. Bühler Nigeria also provides support in the form of solutions for ink and coating applications and flexible packaging systems.
Business3 weeks ago
Nigeria’s Logistics Sector Holds Untapped N3tn Potential, Says Courier and Logistics Management Institute
Black Market Rate4 weeks ago
Black Market Exchange Rate Today 14th November 2023
News4 weeks ago
Millionaire Powerplay Limited Unveils Unprecedented Odds in American Lotto’s Instant Cashless Payout
Black Market Rate4 weeks ago
Black Market Exchange Rate Today 9th November 2023
Forex3 weeks ago
Black Market Exchange Rate Today 16th November 2023
Forex4 weeks ago
Black Market Exchange Rate Today 10th November 2023
Black Market Rate3 weeks ago
Black Market Exchange Rate Today 21st November 2023
Telecommunications3 weeks ago
Airtel Africa Announces Interim Dividend Amidst Robust Half-Year Performance