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Access Holdings’ Shareholders Unanimously Back Capital Raising Plan, Hail Aig-Imoukhuede’s Return as Chairman

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Access Holdings' Shareholders Unanimously Back Capital Raising Plan, Hail Aig-Imoukhuede's Return as Chairman

Access Holdings’ Shareholders Unanimously Back Capital Raising Plan, Hail Aig-Imoukhuede’s Return as Chairman
…Re-elect Olusegun Ogbonnewo, Ojinika Olaghere as a Non-Executive Directors

The shareholders of Access Holdings Plc (“Access Holdings” or “the Group”) at the 2nd Annual General Meeting (AGM) held on Friday, April 19, 2024, unanimously backed the Group’s plan to establish a capital raising programme of up to US$1.5 billion as well as the subset initiative to raise up to N365 billion, specifically, through a Rights Issue of ordinary shares to its shareholders.
The proceeds of the Rights Issue would be used to support on-going working capital needs, including organic growth funding for its banking and other non-banking subsidiaries.
The shareholders also ratified the appointments of Aigboje Aig-Imoukhuede, Olusegun Ogbonnewo, and Ojinika Olaghere as Non-Executive Directors.
The appointment of Aig-Imoukhuede as the Chairman of Access Holdings was praised by the shareholders, who pointed to his rich history of success with the institution, having transformed it into Nigeria’s biggest lender by market value alongside Herbert Wigwe.
Aigboje’s leadership was instrumental in driving the institution’s growth during the 2004 recapitalisation of the banking industry led by the Central Bank of Nigeria (CBN) under the leadership of its former Governor, Prof. Charles Soludo.
“We are thrilled with Aigboje Aig-Imoukhuede’s return to the role of Chairman. His proven track record, experience, and strategic insights position him as the ideal leader to steer Access Holdings towards meeting its lofty targets. During his tenure as CEO, particularly during the recapitalisation directive by the CBN, he steered Access Bank to raise an impressive $2 billion in capital, and this demonstrates his capacity to, once again, lead Access Holdings towards successfully achieving the objectives of our planned Capital Raise and Rights Issue targets,” said Chief Sunny Nwosu, Chairman Emeritus of the Independent Shareholders Association of Nigeria (ISAN).
Access Holdings' Shareholders Unanimously Back Capital Raising Plan, Hail Aig-Imoukhuede's Return as Chairman
In line with the Group’s strong financial performance, the payment of a final dividend of N1.80 kobo per every N0.50 Kobo ordinary share for the 2023 financial year was approved, marking a 28 per cent improvement from the corresponding period in 2022.
The Group’s full-year results for the period ending December 31, 2023, showcased an impressive 335 per cent increase in pre-tax profit to N729 billion from N167.68 billion in 2022. The Group also experienced an 87 per cent surge in gross earnings to N2.59 trillion from N1.39 trillion in 2022 and reported a remarkable 306 per cent growth in profit after tax to N619.32 billion, from N152.20 billion in 2022.
Commencing in the second half of 2024, Access Holdings’ global expansion strategy will enter the consolidation and efficiency phase, aligning with its five-year plan to accelerate the attainment of its 2027 strategic objectives. The Group remains focused on driving sustainable growth, and delivering value to its shareholders even as it continues to build a globally connected community and ecosystem, inspired by Africa, for the world.

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Celebrate Your Wins, No Matter How Small-Prudent Ludidi

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Those who wronged you may never say "I'm sorry" - Prudent Ludidi

Celebrate Your Wins, No Matter How Small-Prudent Ludidi

 

Today, I want to talk about something incredibly important, yet often overlooked: celebrating our wins. Yes, you heard that right – celebrating our wins, no matter how small.

We live in a world that constantly pushes us to achieve more, be more, and do more. We’re always striving for the next goal, the next milestone, the next achievement. And while ambition is great, it’s equally important to acknowledge and celebrate the small victories along the way.

Think about it. How often do you achieve something amazing, only to dismiss it as “not a big deal” or “just part of your job”? How often do you downplay your successes or attribute them to luck rather than your hard work and dedication?

Here’s the thing: every win, no matter how small, is worth celebrating. Every achievement, no matter how insignificant it may seem, is a testament to your strength, resilience, and determination.

Celebrating your wins does several things. Firstly, it boosts your confidence and self-esteem. When you acknowledge your achievements, you remind yourself of your capabilities and potential.

Secondly, celebrating your wins helps you stay motivated and focused. By recognizing your progress, you’re more likely to stay committed to your goals and keep pushing forward.

Thirdly, celebrating your wins fosters a positive mindset. When you focus on what you’ve achieved, rather than dwelling on what’s still to be done, you cultivate gratitude, happiness, and contentment.

So, how can you start celebrating your wins?

Start small. Write down three things you’ve accomplished each day before bed. Share your achievements with a friend or family member. Treat yourself to something special.

Celebrate the tiny victories: finishing a difficult project, trying a new recipe, or simply making it through a tough day.

Celebrate the milestones: landing a new job, running a marathon, or graduating from college.

And celebrate the moments in between: learning a new skill, making a new connection, or taking a much-needed break.

Remember, celebrating your wins isn’t about being arrogant or boastful. It’s about acknowledging your hard work and dedication. It’s about recognizing your worth and value.

Don’t wait until you’ve achieved something “big” to celebrate. Celebrate every win, no matter how small. Celebrate every achievement, no matter how insignificant it may seem.

You are worthy of recognition. You are worthy of celebration. And you are worthy of acknowledging your own strength and resilience!

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Afriq Group CEO, Staff graduates of Certified Cryptocurrency Compliance Specialist 3Cs

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Afriq Group CEO, Staff graduates of Certified Cryptocurrency Compliance Specialist 3Cs

 

The A&D Forensic Institute has awarded staff members of the Afriq Group of Companies the Certified Cryptocurrency Compliance Specialist (CCCS) certification after they successfully completed the required training. The ceremony, held in Abuja from November 4 to 8, 2024, marked a significant milestone for Afriq Group’s dedication to compliance and security in the cryptocurrency sector.

Notably, Afriq Group of Companies is the first Cryptocurrency company in Africa to train over 12 staff members as Certified Cryptocurrency Compliance Specialist.

During the event, Mr. Jesam Michael, CEO of Afriq Group, expressed his gratitude to the A&D Forensic Institute for their in-depth training. He acknowledged that previously, the company focused mainly on trading and profit-making in the crypto space but had now realized the value of knowledge and compliance. “We were mainly focused on making money, but A&D has helped us see the importance of a knowledge base in the crypto space,” Mr. Jesam Michael said.

A highlight of the training week was the introduction of Mrs. Faith E., Afriq Group’s new Cryptocurrency Consultant, who visited the staff on the fourth day. The CEO described her as a mentor and guide for the company’s growth. Mrs. Faith, a seasoned expert in cryptocurrency since 2016, emphasized the importance of education in the evolving technological space. She noted, “People often view technology as magic, but anything lasting over a decade is no longer a trick; it is innovation.” Mrs. Faith stressed that staying educated is essential for Afriq Group to protect its reputation and thrive within the global community, especially given the challenges of operating in a sensitive and risky sector.

She also highlighted how this training would elevate the staff’s capabilities and open new career paths for them. “This training benefits you as individuals first, making you certified specialists, which is recognized internationally,” she said. Mrs. Faith urged the participants to make the most of their knowledge and continue learning to strengthen Afriq Group’s position in the market.

After completing their certification exams, the staff received their CCCS certificates. Mr. Martin, CEO of Farm Trading, joined the ceremony to present the certification to Mr. Jesam Michael as a newly certified Cryptocurrency Investigator. In his remarks, Mr. Martin praised the achievement as a positive step for compliance in the industry and emphasized the balance between business operations and regulatory standards. “Work closely with management, document processes, and follow rules carefully. This way, your role as compliance officers can drive success without jeopardizing business integrity,” he advised.

The event concluded with renewed excitement and a sense of purpose among the staff, who now hold specialized expertise in cryptocurrency compliance. Mr. Jesam Michael reminded everyone to continue their dedication, noting that their work would be under the scrutiny of experts like Mrs. Faith to ensure excellence and adherence to best practices.

 

Afriq Group CEO, Staff graduates of Certified Cryptocurrency Compliance Specialist 3Cs

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BUA Foods Bags Multiple Awards

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BUA Foods Bags Multiple Awards

…Becomes first Nigerian business to win AABLA Company of the Year Award

 

BUA Foods Plc, the makers of IRS Pasta, BUA Sugar, IRS Flour, and BUA Rice, has emerged as the 2024 Company of the Year at the prestigious CNBC’s Africa All Africa Business Leaders Awards (AABLA) held in South Africa.

 

This historic win makes BUA Foods the first Nigerian organisation to win the Company of the Year award in the 12-year history of AABLA, Africa’s largest premier business award renowned for recognising outstanding achievers in Africa’s business landscape.

BUA Foods Bags Multiple Awards
…Becomes first Nigerian business to win AABLA Company of the Year Award

The award came hours before BUA Foods was named the “Most Valuable Indigenous Food Company” at the 2024 BrandCom Award in Lagos State. In late September 2024, Marketing Edge also awarded BUA Foods as the “Customer-centric FMCG Corporate Brand of the Year” while Media Consortium named IRS Premium Wheat Flour the “Premium Brand of the Year”.

 

According to the leading Nigerian food company, the awards acknowledge its significant contributions to the African food industry, commitment to sustainable growth, and positive impact on the continent.

 

The Managing Director of BUA Foods, Engr. Ayodele Abioye (PhD.), in his acceptance speech at the AABLA award in South Africa, noted that the award is not just for BUA Foods but for the entire African food industry.

 

A statement from BUA Foods on Sunday quoted Abioye as saying, “We are deeply honored to be acknowledged as the Company of the Year. This recognition is a testament to our position as a leading force in the African food industry. We are proud to contribute to economic development and positively impact the continent.

 

“This award is not just for BUA Foods but for the entire African food industry. It acknowledges our collective efforts to bolster food security in the region, especially in the face of ongoing challenges.

 

“Just last month, we solidified our position as a global player by signing agreements with Italian and Turkish firms to expand our Pasta and Wheat production to 900,000 metric tonnes per annum and 2.5 million metric tonnes per annum respectively. This strategic move positions us to become the largest milling company in Nigeria by 2025, and ultimately Africa in the near future”.

 

Ayodele subsequently expressed gratitude to the organisers of the award, valued stakeholders, and employees of the company, saying their trust and loyalty have fueled BUA Foods growth.

 

He also reaffirmed BUA Foods’ commitment to empowering African communities through sustainable food production and distribution.

 

“As we look ahead, we remain steadfast in our mission to feed Africa and contribute to the region’s economic development. We will continue to explore new markets, forge strategic partnerships, and invest in innovative technologies to elevate the African food industry to unprecedented levels,” he added.

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