Nigeria: Isaac, winner of Bank PHB’s Apprentice Africa

How do you feel winning?
I am highly elated to be the first Apprentice Africa. I thank God for that.

What was your Strategy?
Sincerely speaking, I wouldn’t say I had a grand strategy how to play the game. This is because one cannot pretend about his true character for long. I was myself and put in my professional best in every task that was given. I spent a lot of time listening to people rather than talking. That helped me understand every contestant very well, knowing the strength and weakness of their temperaments. I therefore was able to relate to them very well as a team player. No wonder I was never taken to the boardroom by any Project Manager as the weakest link.

Give us an insight into your philosophy
I believe I can do all things through Christ who strengthens me. I respect every human being and because of that I command respect and believe in professionalism, integrity, honour and passion as my core values to success.

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The Apprentice Africa (Bank PHB) in a grand finale

The Finalist 1

Eunice                                            saac

The eighteen week job interview came to a dramatic end on Tuesday night with a tense battle between the two finalists, Isaac, Ghanaian based in Ghana and Eunice, a Nigerian based in the United States of America.

After 17 weeks which had seen the elimination of 16 contestants, eight men and eight women from 6 different African countries, it was left to these two to see who will land the plum $200,000 (N24 million) per annum job with Bank PHB, the title sponsors of the Apprentice Africa.

The 17 weeks saw all the contestants handle different task from the very basic like arranging a garden in The Apprentice Africa mansion, to branding and selling groundnuts, or soccer balls on the streets of Lagos or exotic business task like route to market strategy for Celtel Nigeria red phones or striking deals with the major dealers of Tetmosol, a major antiseptic soap in the Nigerian market.

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Nigeria: Intercontinental Bank Asset Base Hits N1.7trillion

Intercontinental Bank Plc, has announced its financial results for the year ended February 2008 which shows a deposit base of N1.05 trillion, up by 126 per cent from N468 billion in the previous year. The total assets plus contingents rose to N1.7 trillion, up by 108 per cent from N823 billion, thus making the bank the first to hit trillion mark in deposit and also giving it number one position in total assets.

Financial analysts attribute the unprecedented growth in the bank’s deposits portfolio to robust customer confidence. The customer base has been on the rise since post consolidation.

The bank also recorded a phenomenal growth in gross earnings which stood at N173.5 billion, an increase of 99 per cent over the N87.4 billion recorded in the previous year. Profit before tax grew by a whopping 102 per cent to N45.6 billion, as against N22.6 billion in 2007, while profit after tax soared by 125 per cent to N34.8billion during the period under review. The capital base also rose to N200 billion from N157 billion.

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Total Nigeria declares turnover of 137.33 billion in 2007 financial year

Total Nigeria Plc has posted a post-tax profit of N3.255 billion for its 2007 operations, indicating an increase of 29 percent over N2.51 billion of the previous year.
Pre-tax profit also rose by 29 per cent from N2.51 billion to N3.255 billion, while turnover grew by 9 per cent, from N126.57 billion to N137.33 billion. Read more

Celtel Nigeria Sponsors Strategic Distribution Partners and Staff to China

Celtel’s Chief Operating Officer, Lars Stork and Director, Commercial Distribution, Tayo Bright, and Celtel Strategic Distribution Partners and staff, during at ZTE office in Shenzhen, China, during a recent business trip to China sponsored by Celtel Nigeria.

First inland Bank plans for 200 new branches and a change of logo

In other to be in line with contemporary trend, First Inland Plc is making plans to re-brand its appearance and service mode. The rebranding include a change in logo, increased bank networking and improvement in staff/customer relationship.

According to the Bank’s managing director Mr Okey Nwosu 200 branches would be added to existing branches and half would be completed before the end o f this year.

The bank’s re-branding efforts, according to Nwosu, would be far-reaching, and would be reflected in the prototype branches of the bank’s buildings, both in their internal and external structures.

“We look forward to creating a workforce that is more dedicated, confident and that can take on the emerging challenges of the Nigerian banking industry,” Nwosu said.

Nwosu noted that the re-branding process would see the bank putting up subsidiaries outside the shores of Nigeria, especially in the West African, South African and East African sub-regions.

A statement by the bank on Wednesday said, in line with the resolve, the Southwest/Midwest zone of the bank held a retreat for its staff in Ibadan over the weekend on the way to move forward and outperform the competition.

Celtel takes 9ice for Mandela 90 Birthday london concert

Wave-making Nigerian artiste, 9ice, his manager and an official of Celtel Nigeria, will depart Nigeria today aboard a Virgin Atlantic flight to the United Kingdom, to join a galaxy of international artists to commence the rehearsal for the Nelson Mandela 90th Birthday Music Concert in London.

9ice will be joining more than a dozen of Africa’s most respected artists including Johnny Clegg, Soweto Gospel Choir and Papa Wemba and many international artistes including the multi-million selling classical pop singer Josh Groban, legendary folk rock singer Joan Baez, singer Amy Winehouse confirmed and Jerry Dammers, one of the organisers of Artists Against Apartheid and Nelson Mandela’s 70th birthday concert and whose song ‘Free Nelson Mandela’ became a banner for the 80’s anti-apartheid movement in UK, who have confirmed participation in the event to prepare for the concert which holds this weekend.

The roll call of artistes expected in London for the concert also include Queen + Paul Rodgers, Annie Lennox, Simple Minds, Leona Lewis, Sugababes, Dame Shirley Bassey and Razorlight, and virtually many big names in the industry who account for multi millions of record sales in recent years.

The music concert which is designed to honour Nobel Laureate and former South African President, Dr. Nelson Mandela is sponsored by telecommunication giant, Zain Group, owners of Celtel International which operates in several African countries such as Nigeria, Sierra Leone, Tanzania, Uganda and Zambia, Burkina Faso, Chad, Democratic Republic of the Congo, Republic of the Congo, Gabon, Kenya, Malawi, Madagascar, Niger, and a soon to be launched operations in Ghana, holds at the London’s Hyde Park on the evening of Friday June 27.

According to Emeka Oparah, Head of Corporate Communications, Celtel Nigeria, a member of the Zain Group, sponsors of the concert, 9ice was issued a VISA by the British Deputy High Commission during the week and every other travel arrangements for his imminent departure and performance at the world class event have been concluded.

Aside from the possibility of doing a solo, 9ice will join other renowned artistes like Papa Wemba, to render a birthday song for the African icon for freedom and democracy.

Many of the world’s most powerful and instantly recognisable figures and a concert audience of 46,664 are expected to pay tributes to one of the world’s most loved leaders, Nobel Peace Prize Laureate and icon of freedom, Nelson ‘Madiba’ Mandela, as he turns 90.

Royalty and politicians from both sides of the Atlantic, leading figures from corporate world, sport, movies and entertainment industry – and some of the most successful musicians in the last twenty years – will participate in the three days programmes lined up to celebrate Mandela’s birthday. The celebrations will culminate in a three-hour evening concert in London’s Hyde Park on Friday June 27, the 46664 Concert Honouring Nelson Mandela at 90.

The concert proceeds will go to the 46664 campaign, the Nelson Mandela Foundation which is committed to raising awareness about the impact of AIDS, especially in Africa, and promoting effective HIV prevention measures throughout the world.

Nigeria: Intercontinental Bank Donates N50m Hostel to Kwara Poly

Intercontinental Bank Plc last Saturday marched forward in its Corporate Social Responsibility (CSR) campaign as it commissioned the N50million ultra modern hostel accommodation it built and donated to the Kwara State Polytechnic Ilorin, Kwara State. The commissioning was performed amidst fanfare as authorities of the institution, students and management staff of the bank were in attendance.

The fully equipped ultra modern students’ hostel is furnished with full wardrobe, ceiling fans, 120 bed spaces, and other facilities such as water and electricity. It is provided with a 8,000 capacity underground borehole. The hostel block construction started in August 2007 and was completed in January 2008. The building is the biggest student hostel in the polytechnic

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Intercontinental Bank seeks to increase authorised share capital to N13 billion

Intercontinental Bank plc is seeking to create additional 3.5 billion ordinary shares to raise the company’s ordinary shares from 21 billion to 24.5 billion ordinary shares of 50 kobo each and 1.5 billion preference shares of 50 kobo each. This is aimed at increasing the the authorised share capital from N11.25 billion to N13 billion. This plan would be presented before shareholders at the annual general meeting that would be held in Abuja.

Shaeholders are expected to approve a total dividend of N13.5 billion for the 2007/2008 year, this is made up of the N6.3 billion paid to the investors as interim dividend last September and the N7.2 billion, the bank is proposing to pay as final dividend payout to its shareholders this month. So translates to 75 kobo total dividend per share for the year up from 60 kobo paid last financial year.

Shareholders are also expected to ratifythe change of the bank’s financial year - end from February to December in accordance with the directive of the Central Bank of Nigeria that all banks must end their financial by December of each year.

However, last week, the bank announced its financial results for the year ended February 2008 showing a deposit base of N1.05 trillion, up by 126 per cent from N468 billion in the previous year. Total assets plus contingents rose to N1.7 trillion, up by 108 per cent from N823 billion.

This has made the bank the first to hit trillion mark in deposit and also giving it number one position in total assets.

The bank also puts its gross earnings at N173.5 billion, an increase of 99 per cent over the N87.4 billion recorded in the previous year. Profit before tax grew by 102 per cent to N45.6 billion, as against N22.6 billion in 2007, while profit after tax soared by 125 per cent to N34.8 billion during the period under review. The capital base also rose to N200 billion from N157 billion.

The bank paid N574 million as total dividend in 2001 and paid N1 billion in 2002. The bank’s dividend payout rose to N1.4 billion in 2003 climbing to N1.6 billion in 2005. Shareholders had a dividend payout of N4.2 billion in 2006 and N9.5 billion last year.

The Corporate Communication’s head Emeka Anaeto said the result is indicative of the bank’s management capacity to turn its growing shareholders funds into profitability and higher returns on investment.

The Group Chief Executive, Dr. Erastus Akingbola said the exceptional performance of the bank in all financial indices represents a bold step in the bank’s global strategy of benchmarking the best financial institution in the international arena.

Recently, Intercontinental Bank entered into a joint venture with Blue Financial Services Company, the number one micro finance institution in Africa with 171 branches spread across ten African countries to float Blue-Intercontinental Microfinance Bank.

UBA Launches Tourism Paycard in Nigeria

United Bank for Africa Plc, has introduced UBA Tourism Paycard in Nigeria.

The bank partnered the Tourism Ministry and Nigerian Tourism Development Corporation (NTDC) to co-brand the Tourism Paycard- an electronic wallet which is poised to be Africa’s premier tourist payment solution.

The card was launched in Abuja recently by Minister of Tourism, Culture & National Orientation Mr. Adetokunbo Kayode at the National Workshop on Tourism Development Master Plan held in NICON Luxury. It was one of the five tourism products launched at the event.

The UBA Tourism Paycard which comes in three categories - silver, gold and platinum- has joined the array of innovative electronic payment solutions, debit and credit cards, introduced by UBA in recent time.

According to Mr. Ibrahim Jega, executive director, Public Sector, UBA Plc, the UBA Tourism Paycard would be availed to inbound tourists at point of entry, Nigerian foreign commissions/embassies, tourist centres and any UBA business offices globally.

“It will enable tourists reduce dependence on cash for their expenses; the card will be a medium of payment through point of sale terminals, Internet and ATMs,” concludes Jega.

Another interesting feature of this card is holders of the card will build up UBA loyalty pride points with hotels, restaurants, airlines, transport companies, recreation centres etc. These are redeemable for prizes and discounts at selected retail outlets.

The Executive Vice Chairman of e-Tourism Ltd, Dr. Felix Obada expressed delight in seeing through the vision of taking Nigerian Tourism industry to the next level with the suite of products launched.

“This will position Nigeria as a first choice tourist’s destination just like any first world country,” he said

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