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Crown Flour Mill Flour Fortification Compliance Efforts Get Global Commendation

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Crown-Flour Mill Ltd- Investors King

In recognition of its efforts and investments in food fortification and infrastructure, culminating in Nigeria’s first state-of-the-art vitamin premix facility, Crown Flour Mill Limited (CFM), the flour milling subsidiary of Olam Nigeria, an agribusiness conglomerate, has received a widespread commendation for consistently delivering highly fortified, quality and affordable food staples that meet global standards and improve public health.

This assertion was made at a Food Fortification webinar, organised by the Global Alliance for Improved Nutrition (GAIN), on Wednesday, June 30, 2021, the flour milling company has successfully ramped up its food processing methodology through quality partnership and acquisition of a state-of-the-art premix facility to provide food products that improve the health of the Nigerian population.

Andreas Bluethner, Director of Nutrition at the Bill and Melinda Gates Foundation (BMGF) who moderated the panel discussion, said, “Olam’s CFM has been able to achieve 90 percent food fortification compliance in flour production to deliver foods that change the lives of people who suffer from food deficiency diseases.”

He added: “Olam’s approach offers a sound model for other food manufacturers which seek to drive business competitiveness by delivering food products that contain the right micronutrients and engender regulatory and consumer confidence.”

Speaking on CFM’s food fortification achievements, Ashish Pande, Managing Director of Crown Flour Mill Limited, highlighted that by leveraging technology, the company is able to determine and achieve food fortification data accuracy at its fully digitalized vitamins premix plant in Lagos.

He said, “CFM’s state-of-the-art vitamins premix facility delivers 99.9 percent food fortification data accuracy. We have therefore been able to choose the right level of micronutrients in all our food product processing efforts in line with global best practices and regulatory standards.”

“These quality assurance investments in our food processing facilities are delivering highly nutritious meals that are more affordable, easily accessible and instill confidence in all our products across the market.”

He cited, for instance, the affordable pricing structure and quality of bread produced by bakers who use CFM’s Mama Gold flour in their bakeries. Because our flour brands contain the right micronutrient mix and has qualities like better water absorption and taste, the bakers prefer to buy the flour brands for making bread that meets consumers’ shrinking wallet, deliver maximum returns and support healthy living.

The food fortification event was tagged “Scaling up innovation for a fortified future: fortification quality digitization”. The event provided a high-level overview of quality compliance challenges in food fortification on local and global scales; it also explored how digitization can solve the various food fortification challenges.

Panelists for the food fortification webinar were drawn from across varying areas of expertise in food processing like data analytics, IT, not-for-profit advocacy and regulatory sectors. The panelists were Dipika Matthias, Deputy Director, Nutrition, BMGF, USA; Bernard Kowatsch, Head of World Food Programme Innovation Accelerator, Italy; Ashish Pande, Managing Director, Crown Flour Mill Limited, Nigeria; Anna Zhenchuk, Managing Director, BioAnalyt, Germany; Zameer Haider, National Program Manager for Oil Fortification, Nutrition International, Pakistan; Janice Zdankus, Vice President of Innovation for Social Impact, Hewlett Packard Enterprise, USA; Harun Rashid, Chairman, Shakti Edible Oil, Bangladesh; and Imtiaz Masud, Head of QA & EMS, Bangladesh Edible Oil, Bangladesh.

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Transcorp Power Plc Listing Sparks Surge in Energy Sector Interest in Capital Market

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Transcorp Power

The recent listing of Transcorp Power Plc on the Nigerian Stock Exchange has ignited a wave of enthusiasm among energy sector players, signaling a significant shift towards capital market engagement.

With the introduction of 7.5 billion ordinary shares at N240 per share, Transcorp Power Plc entered the market with a bang, boasting a market cap worth N1.8 trillion.

The reception was nothing short of remarkable as the stock surged by 10% on its first trading day, closing at N264 per unit.

By the end of the week, it had appreciated by 46.38% to N351.30 per share.

This unprecedented success has not gone unnoticed with financial analysts and stockbrokers heralding the listing as a catalyst for broader market participation.

Vincent Ugwu, Managing Director/CEO of De-Lords Securities Limited, explained the allure of the capital market for power sector players, citing its capacity to raise low-cost capital.

He highlighted the abundance of opportunities within the sector, including those in the gas value chain, widening areas of coverage, and cross-border power sales.

Echoing similar sentiments, Mike Eze, CEO of Crane Securities Limited, commended the reception of Transcorp Power Plc’s listing by Nigerian investors, underscoring the market’s ability to absorb funding demands from the power sector.

Abdulmumin Ali, an Abuja-based financial analyst, projected sustained growth for Transcorp Power Plc shares, urging early investors to seize the opportunity for substantial returns in the short to medium term.

Speaking at the listing ceremony, Transcorp Power’s Managing Director, Peter Ikenga, expressed pride in the company’s dedication to Nigeria’s growth and its commitment to delivering sustainable energy solutions.

As the energy sector increasingly embraces the capital market, the listing of Transcorp Power Plc stands as a testament to the market’s potential to drive sectoral growth and innovation in Nigeria.

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Merger and Acquisition

Foreign Investor Eyes 7% Stake in LivingTrust Mortgage Bank Plc

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LivingTrust Mortgage - Investors King

LivingTrust Mortgage Bank Plc is on the brink of a significant financial move as reports indicate a foreign investor’s interest in acquiring a seven percent stake in the institution.

According to industry insiders familiar with the matter, the prospective investor is poised to proceed with the regulatory formalities following the completion of due diligence.

The potential investment is anticipated to provide a substantial capital injection for LivingTrust Mortgage Bank Plc, paving the way for enhanced operational capabilities and strategic growth initiatives.

However, as of the time of reporting, the specifics of the investor and the financial terms of the deal remain undisclosed, pending regulatory filings and approvals.

This development comes on the heels of the recent appointment of Dr. Olumide Adedeji as the new Managing Director of LivingTrust Mortgage Bank Plc, effective March 7, 2024.

Dr. Adedeji, a seasoned finance professional with a wealth of experience garnered from esteemed institutions such as Standard Chartered Bank, FCMB, and Diamond Bank, among others, is poised to steer the bank through this potential transformative phase.

While the transaction awaits official confirmation, industry analysts speculate that the investment could signify a vote of confidence in the bank’s prospects and the broader Nigerian financial landscape.

Furthermore, it underscores the appeal of Nigerian financial institutions to foreign investors seeking strategic opportunities in emerging markets.

The move aligns with LivingTrust Mortgage Bank Plc’s commitment to fortifying its position in the market and unlocking value for its stakeholders amidst a dynamic economic environment.

As the regulatory processes unfold, stakeholders eagerly anticipate the potential implications of this strategic partnership on the bank’s trajectory and the broader financial ecosystem.

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Transcorp Power Lists on the Nigerian Exchange; Gains 10% First Day of Trading

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Transcorp Power

Transcorp Power Plc, a power subsidiary of Transnational Corporation Plc (Transcorp Group), has listed its shares via introduction on the Main Board of the Nigerian Exchange (NGX), adding more than N1.8 trillion to the market capitalization of NGX and further boosting liquidity in the Nigerian capital market.

The listing was celebrated on the 4th of March 2024, with a Closing Gong ceremony and a “Facts Behind the Listing” presentation.

Transcorp Power gained 10% on the first day of trading, to close at N264 per share, up from the listing price of N240 per share.

The listing of Transcorp Power is further evidence of the execution of Transcorp Group’s integrated power strategy, ensuring Nigeria’s natural resources are harnessed for the development of the Nigerian economy and so delivering on the Group’s mission of “Improving Lives and Transforming Africa”.

The listing which comes on the 10th anniversary of Transcorp Power’s founding, demonstrates the Company’s strong corporate governance, operational excellence, and value creation for stakeholders.

This track record was earlier recognised in May 2023, when the Company became the first successor Power Generating Company in Nigeria to receive its post-privatization discharge from the National Council on Privatisation, having met and surpassed the key performance indicators set out by the Bureau of Public Enterprises (BPE).

Transcorp Power operates the Ughelli Power Plant in Delta State, with an installed capacity of 972MW. At the time of acquisition, the plant had an available capacity of 160MW.

Transcorp Power invested and increased the available capacity to 680.83MW (a 227% increase) within 4 years of acquisition, surpassing the 5-year target of 670MW set by the Bureau of Public Enterprises.

Transcorp Power Plc is a member of the West African Power Pool and a participant in the ECOWAS Regional Electricity Market. Today, Transcorp Power supplies electricity to the ECOWAS Regional Market.

Peter Ikenga, Transcorp Power’s Managing Director/CEO stated, “This is a testament to our unwavering dedication to powering Nigeria’s growth.  We embark on this new chapter with a sense of purpose, innovation, and a commitment to continue to deliver sustainable energy solutions in Nigeria and beyond.”

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