Business and Brand
Romco Recycling Company Limited Quotes ₦1.26 Billion Commercial Papers on FMDQ Exchange
FMDQ Securities Exchange Limited (“FMDQ Exchange” or the “Exchange”), through consistent collaboration with its stakeholders, continues to deepen and effectively position the Nigerian debt markets for growth, supporting the realisation of a globally competitive and vibrant economy. In keeping with its commitment to provide a reliable and credible platform to support capital formation, FMDQ Exchange is pleased to announce the approval for the quotation of the Romco Recycling Company Limited ₦0.41 billion Series 1, ₦0.42 billion Series 2 and ₦0.43 billion Series 3 Commercial Papers (“CPs”) under its ₦6.00 billion CP Issuance Programme on its platform on May 24, 2024.Romco Recycling Company Limited (the “Issuer”) is a multinational non-ferrous metal recycler dedicated to sustainability. The company creates usable recycled metal ingots for manufacturers, reducing the need for mining raw materials. The proceeds from the quotation of these CPs, sponsored by Quantum Zenith Capital & Investments Limited, a Registration Member (Quotations) of the Exchange, will be used by the Issuer to support its short-term funding requirements.To fulfill its mandate of deepening the Nigerian financial markets, FMDQ Exchange will consistently uphold its market development and governance responsibilities by providing a cost-effective, efficient, well-regulated, transparent, and reliable platform for raising and transferring capital, ensuring value for its diverse stakeholders.FMDQ Group PLC is Africa’s first vertically integrated financial market infrastructure (“FMI”) group, strategically positioned to provide registration, listing, quotation and noting services; integrated trading platform, clearing & central counterparty, and settlement services for financial markets transactions; depository of securities, as well as data and information services, across the debt capital, foreign exchange, derivatives and equity markets, through its wholly owned subsidiaries – FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited. As a sustainability-focused FMI group, FMDQ Group PLC, through FMDQ Exchange, operates Africa’s premier Green Exchange – FMDQ Green Exchange – positioned to lead the transition towards a sustainable future.
Business and Brand
Olam Agri Celebrates Five Consecutive Years as a Certified Top Employer
LAGOS, January 16, 2025 – Olam Agri in Nigeria has again been recognised as a Top Employer by the Top Employers Institute, marking the fifth consecutive year it has achieved this prestigious certification. Announced during an event celebrating organisations that excel in the Institute’s annual HR Best Practices Survey, this milestone underscores Olam Agri’s exceptional workplace culture, innovative HR strategies, and growing appeal to talent locally and globally. The Top Employer Institute evaluates organisations based on a comprehensive survey covering six key HR domains and 20 topics: People Strategy, Work Environment, Talent Acquisition, Learning, Diversity, Equity and Inclusion, and Wellbeing. Since 2020, Olam Agri’s operations in Côte d’Ivoire, Ghana, Nigeria, South Africa, and the Africa region have consistently earned top rankings, solidifying its reputation as an employer of choice. As a leading agribusiness in food, feed, and fibre, Olam Agri is deeply committed to making a positive impact on its workforce, customers, host communities, and stakeholders. Through its efforts in Nigeria and other markets, the company contributes to food security, environmental sustainability, and economic development. This latest certification reflects Olam Agri’s adherence to global best practices and focus on creating meaningful, lasting change. David Plink, CEO of the Top Employers Institute, commended Olam Agri and other certified organisations for their resilience and excellence. He noted: “Consistency in a not-so-consistent world is remarkable. Amidst technological advances, economic shifts, and evolving social landscapes, it’s inspiring to see organisations like Olam Agri rise to the challenge. This year’s certification celebrates those who continue to lead with people-first strategies, setting the standard for enriching the world of work.” Jaideep Biswas, Regional Head of Human Resources at Olam Agri, highlighted the significance of the recognition, stating: “Our people-centric strategy aligns with the dynamic demands of the global talent landscape, embedding diversity, equity, and inclusion at the core of our operations. This certification validates our approach, but we’re not stopping here. We remain committed to helping our workforce thrive in a rapidly evolving work environment.” Anil Nair, Managing Director, Olam Agri in Nigeria, expatiated, “As we celebrate this recognition, we also look to the future. Olam Agri is committed to scaling our HR practices to ensure alignment with global standards. We will continue to make significant investments in our people and the food value chain, enriching lives and driving economic growth. Our goal is to create an environment where our employees can excel and thrive, and we are dedicated to achieving this. Olam Agri’s continued success as a Top Employer reflects its unwavering dedication to fostering growth, well-being, and excellence in its operations.
Business and Brand
Interswitch to Host Inaugural Startup Mixer
Lagos, January 13, 2024 – Interswitch Group, one of Africa’s leading integrated payments and digital commerce companies, has announced plans to host its first-ever startup innovation mixer. Themed “Unlocking Synergies between Startups and Established Corporates,” the event will take place on January 24, 2025, at the Interswitch Innovation Lab, Victoria Island, Lagos.Designed to bridge the gap between startups and established businesses, the Innovation Mixer will provide a platform for stakeholders across the tech ecosystem to collaborate, share ideas, and forge partnerships, as it promises to bring together a vibrant mix of innovators, tech enthusiasts, investors, and industry leaders for an evening of transformative solutions and networking.Highlighting the significance of the event, Adaobi Okerekeocha, Chief Innovation Officer, Interswitch, noted that partnership remains central to driving innovation within Africa’s tech ecosystem. She expressed optimism about the mixer’s potential to generate lasting impact, saying:”At Interswitch, we believe collaboration is the bedrock of innovation. As the tech and innovation landscape in Nigeria and across Africa continues to evolve, its immense and untapped potential calls for platforms like this to unlock new possibilities.The Startup Mixer represents a pivotal step toward building a vibrant community where startups and established corporates can exchange ideas, explore opportunities, and forge synergies that drive impactful solutions.”The event will feature a panel discussion, which will be moderated by Akeem Hassan, Technical Adviser to the Honourable Commissioner, Ministry of Innovation, Science, and Technology, Lagos State Government. The panelists include Ireayo Oladunjoye, Managing Director, Endeavor Nigeria; Linda Ochugbua, Digital Sales Manager, BusinessDay; and Olapeju Nwanganga, Founder, Pepcode. Together, they will delve into the theme, exploring practical ways to strengthen collaboration between startups and established corporates.Attendees can look forward to a thoughtfully curated experience featuring stimulating discussions and unparalleled networking opportunities. The mixer will spotlight groundbreaking ideas, inspiring success stories, and transformative partnerships that are shaping the future of Nigeria’s tech ecosystem and driving innovation across Africa.By hosting this event, Interswitch reaffirms its unwavering commitment to nurturing innovation and fostering partnerships that drive growth within Nigeria’s tech ecosystem and beyond.Don’t miss the opportunity to connect with innovators, industry leaders and changemakers. Register now at tinyurl.com/ISWmixer to secure your spot!
Business and Brand
Setting Sails for the New Year: E-Commerce Trends to Watch in 2025
E-commerce is evolving rapidly, and according to Forbes, online retail is projected to account for 23% of all purchases by 2027. Two years away from 2027, with rapid technological advancements, shifting consumer behaviors, and intensifying competition, 2025 is set to be a defining year. Businesses—large and small—must understand emerging trends, underpinned by data, to strategically position themselves for growth and profitability.In Africa, where digital commerce has grown exponentially over the past decade and is set to surpass half a billion ecommerce users by 2025, these trends signal an era of innovation, inclusivity, and customer-centricity. Here are the most essential e-commerce trends to watch out for in 2025:The Rise of Rural E-CommerceWhile urban centers have historically been the focal point of e-commerce growth, rural markets represent a largely untapped opportunity, particularly in emerging markets like Africa. In Nigeria, over 50% of the population resides in rural regions, yet only a fraction of these areas have access to reliable e-commerce services. Logistics remains a challenge, but innovations such hyper-local distribution hubs are making rural areas more accessible. Jumia’s strategic expansion into smaller towns and villages has unlocked new markets, helping consumers gain access to authentic goods and enabling sellers to reach untapped customers. With an extensive logistics network of over 60 third-party logistics partners, 210+ pick-up stations, and a vibrant community of 7,000+ active independent sales consultants (called the JForce), Jumia is making every region in Nigeria accessible. This is tangible in the expansion of its operations to locations such as Port Harcourt, Yenegoa, Owerri, Onitsha, Anambra, Ilorin, Osogbo and other states to aid the delivery of goods to rural regions and bring the benefits of e-commerce closer to every Nigerian irrespective of location.Accelerated Digital Payments AdoptionThe rise of digital wallets and other cashless solutions is reshaping the payment industry with mobile money and fintech innovations leading the charge toward a cashless economy. By 2025, digital payment systems will be indispensable for e-commerce growth, offering secure, fast, and flexible transactions. Hence, companies like Jumia through its JumiaPay platform have strengthened its offerings leveraging collaborations with both local and global payment partners like PalmPay, Opay, EasyBuy, CredPal, to provide a secure payment gateway and various payment options to customers.Social Commerce Gaining MomentumSocial media is no longer just a marketing tool—it is becoming a direct sales channel. Platforms like Instagram, TikTok, and Facebook are integrating shopping functionalities, enabling users to purchase products without leaving the app.With the insurgence of social media, social commerce represents a lucrative opportunity. Micro and nano-influencers play a pivotal role in driving product discovery and conversions. In 2025, e-commerce companies must leverage social commerce to engage with younger, tech-savvy audiences in authentic ways.Businesses that incorporate storytelling, user-generated content, and interactive shopping experiences will benefit from increased brand affinity and higher sales. Importantly, small and medium enterprises (SMEs) can capitalize on social commerce to reach niche markets without substantial investments in traditional e-commerce infrastructure.The AI Chatbot RevolutionCustomer service is being redefined by conversational AI. In 2025, chatbots will evolve from merely answering queries to providing proactive recommendations, resolving complex issues, and even closing sales. By reducing wait times and improving service quality, AI chatbots can elevate customer satisfaction.Ultimately, the e-commerce trends shaping 2025 reflect a combination of technological innovation, consumer-driven shifts, and regional opportunities. From leveraging AI for personalization to tapping into rural markets, businesses must be proactive in adapting to these changes. In 2025, one thing is clear: the future of e-commerce belongs to those who innovate, adapt, and put the customer at the heart of their strategies.