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Primate Ayodele To Hold Maiden Edition Of Ministers’ Conference In August



The Primate Elijah Ayodele Gospel Ministers’ Forum (PEAGOM) is set to hold the maiden edition of its Ministers’ conference on August 17, 2024 at Airport Hotel, Lagos, Nigeria.

PEAGOM, a forum that houses the spiritual sons and daughters of renowned prophet, Primate Elijah Ayodele, was established to foster learning and raise more representatives for God on earth.

According to the coordinator, Pastor Elisha Olugbenga Tolulope, the Ministers’ conference initiative came into existence by the mind of God. He noted that several spiritual sons and daughters of Primate Ayodele have been reaching out to him for a forum like PEAGOM for more than ten years until God gave him a nod earlier this year.

‘’This initiative came into existence by the mind of God. God’s servant doesn’t move on any matter, until God says move. Many of his spiritual sons and daughters including me have been reaching out to him for more than ten years to request for a forum like PEAGOM where we can learn and become God’s will. But, he didn’t respond to the requests until God told him to give a nod to it this year (2024). So, PEAGOM is the mind of God for those who want to matter and gain mastery in ministry, or any field of endeavour.’’

‘’It is an initiative that aims at bringing all the spiritual sons and daughters of the chosen servant of the most high God together on a platform, so we can learn at his feet, to become God’s able representatives on the earth. Hosea 4:6 says, “My people are destroyed for lack of knowledge: because thou hast rejected knowledge, I will also reject thee, that thou shalt be no priest to me:” However, Hosea 6:3 says “Then shall we know, if we follow on to know the LORD…….. ” God’s knowledge is for those who follow on to know. Now, who you follow determines what you know, and what you know will determine what you will become in life.’’

According to him, PEAGOM stands out as an initiative for ideal mentorship and an avenue to make life better for members. Also, he made it known that some of the benefits of joining the forum includes having access to periodic seminars with Primate Ayodele, access to connect with him and an undeniable improvement in members’ ministries.

‘’PEAGOM has not come to join the crowd, it has come to stand out as a forum or initiative for ideal mentor / protege relationship. It is not an initiative for siphoning funds from members, but one to make members lives better in all ramifications.’’

‘’In PEAGOM, we have privileges and benefits which includes Access to Periodic seminars with our spiritual father feeding us with spiritual knowledge from his wealth of experience, Opportunity to have one on one encounter with him to connect with God’s grace on his life, Opportunity to have undeniable improvement in ministry or whatever you do.’’

‘’This is not a forum that will fade away with time. “I know that, whatsoever God doeth, it shall be for ever: nothing can be put to it, nor any thing taken from it: and God doeth it, that men should fear before him.” Ecclesiastes 3 : 14’’

To apply, you have to pick a form, or follow our link to get the form. Potential members can also call +234 812 824 1717 or +234 806 236 3323 for comprehensive information on how to become a member.

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As FX Headwinds, Subscription Fee Issues Take Toll on Multichoice Results as published by Thisday Newspaper




The latest performance report of Multichoice, where it posted losses for the second time may be an eye opener that the company at the centre of a storm in Nigeria over the controversial review of subscription fees is indeed under serious pressure caused by the crisis in the foreign exchange market and other operating challenges, writes Festus Akanbi

For Multichoice, Africa’s leading entertainment company, this is certainly not a time to cheer. This is because its latest financial results have shown that contrary to popular belief, the company is not making enormous profits from its DStv satellite television service. The performance result which was in red confirmed that while the satellite television service contributes significantly to Multichoice’s revenue, the truth is that the company is not solely reliant on it.
 MultiChoice reported loss-making for the year ended 31 March 2024 after incurring a net loss of 4.1 billion rand ($225.8 million at current exchange rate). The company recorded a loss for the second year running, its audited accounts released on Wednesday showed.

According to the company, the substantial net foreign exchange translation losses resulted from losses on, “USD-denominated non-quasi equity loans between MultiChoice Africa Holdings B.V. and MultiChoice Nigeria Limited.”
This, it added, “follows the depreciation of the Naira against the Dollar from a closing rate of N464.50 in FY23 to N1 308.00 in FY24.”
According to the income statement, revenue dropped 5.9 per cent to 55 billion rands due to a slide in subscription fees.

“The combination of foreign exchange headwinds and a lower subscriber base resulted in a net decline in group revenues of five per cent to ZAR56.0 billion,” MultiChoice said.

Counting the Gains of Diversification
The report showed that general and administrative expenses jumped to 18.4 billion rands from 16.6 billion rands a year earlier after surges in employee costs and software license expenses, weakening operating profit.

The report showed however that Multichoice’s diversification strategy has led to significant growth in other segments, such as Showmax, SuperSportBet, and Moment. These new revenue streams have contributed to the company’s overall performance, offsetting some of the challenges faced by DStv.

According to the financial results, several of the company’s other products and services also performed well. Showmax, in particular, has shown impressive growth, with a successful relaunch across 44 markets in sub-Saharan Africa and a significant increase in active users.

Highlighting the company’s achievements in the face of adversity, Multichoice Group Chief Executive Officer, CEO, Calvo Mawela, said despite a tough year, the company delivered a trading profit margin of 26 per cent in South Africa and a 48 per cent increase in trading profit in Africa.

“We’ve just published our results for the past financial year, which ended in March 2024. The year has been like no other in terms of economic turmoil, but we showed resilience and navigated significant headwinds – managing our business with focus, dedication, and tenacity,” said Mawela.

Emphasis on Efficiency
He added that the company’s financial results were a testament to its ability to adapt and innovate in a rapidly changing market, noting that the emphasis on efficiency has positioned the company for future growth, despite the challenges faced by its satellite television service.

“KingMakers delivered strong growth in the online business in Nigeria by growing monthly active online users by 37 per cent and online gross gaming revenues by 26 per cent, year-on-year in constant currency. The business launched BetKing Casino and a virtual football sportsbook service, BetKing FootballGO, in Nigeria and SuperSportBet in South Africa”, the CEO stated.
He continued: “SuperSport continues to bring fans the best of sports from across the globe. In the past year, we broadcast over 34,000 action-packed sports events, more live sports than any other broadcaster in the world. Highlights of the year were the Rugby World Cup, Cricket World Cup, Netball World Cup, FIFA Women’s World Cup, and AFCON.

“Also, SuperSport Schools continues to grow strongly and more than doubled its registered user base during the year. Showcasing South Africa’s talent of the future, the platform displayed 49,000 hours of live programming across 43 different sports, covering 1,100 schools and 14,500 teams.”

Mawela emphasised the company’s commitment to creating authentic African stories. “We are the largest producer of original content on the African continent and remain committed to creating and growing authentic African stories. We produced over 6,500 hours of local content, to bring our local content library to 84,000 hours of content. More than half of our general entertainment budget is spent on local content.”

Commitment to Innovation
With a cost savings target of ZAR2 billion (108.9 million) set for the upcoming year, the company is poised to continue its trajectory of growth and innovation.
“We know that nobody else has the content we have for the customers we serve. This puts us in a great position to prosper – by better understanding our customers’ entertainment choices, identifying their needs, and tapping into the growth opportunities that arise along the way.

“In the year ahead, our focus will be to drive scale in Showmax, Moment, and SuperSportBet and to grow DStv Insurance, DStv Internet, and DStv Stream. We are purposefully pursuing our vision of becoming Africa’s entertainment platform of choice with determination and vigour. Significant progress has been made towards achieving this strategic objective. Our combined efforts will put our business in a strong position to prosper once the macro-economic environment stabilises,” the Multichoice boss assured

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All On Announces $395,000 Grant to Ceesolar Energy for Mini-Grid Power Project in Niger Delta.




Lagos, Nigeria – 20-06-2024- In its commitment to sustainable development and economic growth in the Niger Delta, All On, the Shell funded leading Nigerian impact investment company, announces a $395,000 grant awarded to Ceesolar Energy Limited, a renewable energy firm specialising in solar system design and construction, energy system deployment. This marks the first beneficiary of the Niger Delta Grant program, a collaborative initiative designed to bridge the energy gap in the Niger Delta region.

The Niger Delta, despite its abundance of natural resources, faces significant energy access challenges. Recognising this disparity, All On established the Niger Delta Grant program to empower off-grid developers to bring clean, reliable power to underserved communities.

Ceesolar Energy Limited will utilise the grant to bring off-grid power to the Oweighoroha community in Bayelsa State. Their project will provide essential electricity for 430 connections, empowering residents with both social and productive-use applications.

“We are delighted to announce the grant to Ceesolar Energy,” said Caroline Eboumbou, All On’s Chief Executive Officer. “This signing signifies our unwavering commitment, alongside Shell, to fostering a brighter future for the Niger Delta This decision reflects Bayelsa’s critical importance to All on, which is determined to address the significant lack of access to commercial electrification opportunities that the communities have endured.

The presence of Country Chair of the Sustainable Energy for Change Initiative, Shell Companies in Nigeria (SCiN), Osagie Okunbor, at the signing ceremony underscored the program’s significance and the commitment of Shell’s All On in driving positive change across the Niger Delta.

“The Niger Delta holds immense potential,” said Country Chair of the Sustainable Energy for Change Initiative, Shell Companies in Nigeria (SCiN), Osagie Okunbor. “By providing grants, we can empower developers and contribute to closing the energy gap, one community at a time. Our aim is to ensure that the project is sustainable; this is the reason we went through the rigorous selection process. Protecting the mini grid is crucial; we seek the cooperation of the leaders and residents of the community to prevent vandalism because the success of this project will pave the way for more initiatives not from All On alone but from other organisations.”

Following a rigorous selection process conducted by All On and the Renewable Energy Association of Nigeria (REAN), Ceesolar Energy emerged from a shortlist of 15 developers. Their proven track record operating in the Niger Delta and their existing project pipeline within Bayelsa State made them a compelling choice.

The Chief Executive Officer, Ceesolar Energy Limited, Chibueze Ekeh, said, “We are excited and honoured be awarded this grant. At Ceesolar Energy we are passionate about reducing carbon footprints through sustainable energy impacts. The Niger Delta is a region that needs sustainable energy impact; hence, this grant is timely to provide the impact to 2,000 people in the Oweighoroha community through the provision of mini grids.”

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The Improvement Society of Nigeria, is proud to celebrate her 91st Founder’s Day anniversary, commemorating nearly a Century of dedicated service and impactful contributions to community development and national progress.

The celebration will take place on 22nd and 23rd June, 2024 at The African church Cathedral, Ifako, featuring a day of inspiring speeches, inauguration of new National Executive members,Bible Quiz and Fundraising.

The African Church Improvement Society came to life on 18th June 1933 in The African Church Cathedral Bethel, Lagos now The African Church Arch Cathedral Bethel, Lagos, having been founded by Late Elders T. G. A. Williams, J. A. Johnson and Bro. B.  O. Adesigbin among others.

It has blossomed from such humble beginnings into a giant spreading into Dioceses of The African Church.

President General, Bro. Adebiyi Abiodun Aderibigbe said that: by the special grace of God, we have remained focused on our mission and vision, which are geared toward promoting unity among members and positively contributing to the development of The African Church.

Looking forward, Improvement Society of Nigeria plans to expand its reach and deepen its impact with new initiatives focused on digital literacy, renewable energy in the Vineyard, continue wining souls for Christ and entrepreneurship training for the youth.  These initiatives aim to equip the next generation with the skills and opportunities needed to thrive in a rapidly changing world.

The Improvement Society of Nigeria is a leading Society in The African Church  committed to fostering relationship and enhancing the quality of life for all members of the Church.

Publicity Secretary -General

Ms. Abosede Adegboyega

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