Africa's First Beauty Business Week With Focus On Shea Butter

Two and a half years ago, the Beauty Division of my company, World PR
Media (a Strategy Specialist Company based in Nigeria) decided on a quest
to put a spotlight on the Beauty Industry through a series of activities.

First, it was the Luxury Beauty Brunch, which has profiled over 150 beauty
products and hosted almost 300 Beauty Enthusiast, Beauty Editors and
Bloggers including Beauty Industry Stakeholders to themes based on growing
trends in the industry with the expertise of over 45 Speakers. These
Speakers range from Dermatologists, to product Formulators, Stockiest,
Strategists etc.

The Luxury Beauty Brunch has been known to ignite alliances between
Producers and Stockiest, Brand Managers, the press and many more.
 Through
the success of the Brunch and positive testimonials, the Beauty Division
launched the second phase of trends and stakeholders profiling in the
Beauty Industry by launching its online Beauty Blog and Documentary
called;
The Beauty Reports. A social media content that sits with the
stakeholders, celebrities who experience the trends and beauty enthusiast
to obtain first hand intel on the ever growing trends and the producers
and services providers in the beauty industry responsible.  This was fully
backed by Guerlain (Nigeria, Africa) with the La Petite Robe Noire’s
Little Black Dress Campaign.Since inception, the Documentary has been archiving perspectives of
formidable cosmetics brands like L’Oréal, Cookie Skin, Belfiore Media, R&R
Luxury, Gemology, Swiss brand Makari Cosmetics and super online Beauty E
Commerce platform Beauty Rev Ng to name a few.

Fast forward to 2017, World PR Media has partnered with the luxury car
brand giant - Mercedes-Benz to bring Africa, Mercedes-Benz World PR Beauty
Business Week, a three day Beauty business focused event complete with
seminars, workshops, beauty presentations, exhibitions and gala. With 2017
bring declared as “The Year of Skincare” in our Beauty Division, the
international product focus of 2017 is “Shea Butter”. I want the week to
be a global platform for the sustenance of indigenously created beauty
products whilst promoting the accessible regional raw materials to their
local/international end-users thereby boosting the export proceeds of the

Beauty Industry hence our Key note speech on – The Shea Innovation.Nigeria is worth an estimated 2 of the 3.6 billion dollars of the market,
which is over 57 percent of the market that needs harnessing. We cannot
wait to submit the reports and analysis from the research we are
conducting. Aside from experience zones to sample and try beauty products
and services, Panel discussions on the subject matter will also be joined
by Seminars on “The Beauty of Cosmetics, The Science of Dermatology, The
Technology of Beauty, The Strategy Behind Luxury Beauty” etc., all of
which will be hosted by Nigeria’s finest in Strategy and beauty business
Entrepreneurship.

Nigerian model, Yewande Baruwa, is dead

Nigerian model and former winner of the Miss Charismatic pageant, Yewande Baruwa has died.
She was 22 years old.


 The late Obafemi Awolowo University graduate of Public Administration was reported dead on Friday, after a brief illness.Organiser of the Miss Charismatic pageant, Ronke Tiamiyu confirmed the death on her instagram page.“I wish RIP meant “return if possible” My beautiful queen Baruwa Yewande is gone,my sister from another mother,I am short of words right now,I can’t believe I will never see this angel again,continue to rest in the bosom of the lord my queen.

Corpse being prepared for burial grabs living brother’s hands

There was panic today (Monday) at the mortuary of Plateau Specialist Hospital in Jos, when the corpse of a man being prepared for burial suddenly grabbed his living brother’s hand.
The incident happened as the deceased, identified as Choji Zeng, was being dressed up by his brother, in preparation for burial.
Family members who had participated in the washing of the corpse ran out in panic as they saw the dead Choji Zeng holding tight to his younger brother, Mr. Gyang Zeng.

The pandemonium attracted mortuary attendants, who came in to separate the two brothers.
The two brothers had lived together at Ungwan Juma’a abattoir in Jos metropolis. Choji Zeng, 35 years old, died after a brief illness, relations said. He was said to have suffered from a liver disease.
Gyang Zeng confirmed the unusual incident to the News Agency of Nigeria. He said that after bathing
He said he had to call the mortuary attendants for help. The mortuary attendants forced the dead hands off him.

Relations and neighbours who witnessed the incident also confirmed it to The News Agency of Nigeria.
Gyang also revealed to NAN that when the deceased held his hands, he asked him, “Choji, why did you hold my hand? Do you want me to join you, or what?”
One of the mortuary attendants said it was not the first time such a thing would be happening in the mortuary.
his brother, h
Mr. Benjamin Oche, a neighbour of the two brothers who also witnessed the incident, told NAN that before Choji’s death, both brothers had a misunderstanding.
He said both of them had quarreled over the land they inherited from their parents.
No foul play is being suspected in Choji Zeng’s death, however.
e was dressing him in white cloth when his corpse grabbed his hands.

Africa Fashion Week Nigeria Pulls Record Breaking Model Casting Call

The Model casting call for the Africa Fashion Week Nigeria 2017 would go down in history as one of the biggest of its kind in sub-Saharan Africa. As early as 8 am on Friday 27 April, hundreds of aspiring models for the AFWN had already gathered in groups with their agents. It was a massive turnout which provoked discussions among those present at the Women Society Skill Centre, Lekki, venue of the casting.

Sola Olabisi, a fashion photographer, who attended the shows last year, said he was not surprised that the turnout of models jostling for Africa Fashion Week Nigeria platform is record breaking because the organizers have a way of putting up remarkable shows while promoting Africa fashion to the rest of the world.The models want identify with the growth and reputation of the brand.

AFWN casting team had on board, AFWN Head of Production, Bayo Hasstrup, AFWN Chief Operating Officer, Aiki Odiawa, Eke EKE Group Merchandising Officer Daviva, Mr Jide Adedeji the head stylist, Mr Zuby Enoma AFWN hair director and Mr Barrectt Akpokabayen the official photographer. The team went through rigorous session after session before final selection of 70 models.

The model casting is part of build up towards the AFWN 2017 that will come up between June 3 & 4 at the National Arts Theatre, Lagos. The organizers had two iconic shows in April as pre-events shows. The first one took place at the National Theater, while the second one was at the Tinubu Square, Lagos. The iconic shows held at historic veues, as a way of blending the creativity of designers with the richness of our cultural heritage of Lagos.

The Founder of Africa Fashion Week, Ronke Ademiluyi said she was overwhelmed by the large turn of models who aspire to join the fashion week every year. “The platform keeps growing every year with remarkable shows. We are not going to relent.That is why government and multinationals should support us. AFWN is more than entertainment. We add economic value to African designers on our platform with our creativity every year.”

Why I Want To Be Lagos Island LG Chairman - Ojora

Apparently disturbed by the lackluster developments in the Lagos Island local government areas, Prince Wale Ojora has taken the bull by the horn to vie for the chairmanship position of the council in the forthcoming local council elections.

This is as a result of his conviction that he has got what it takes to take the council area to the next level that will be in conformity with his party’s manifestos and aspiration of change
Speaking recently with journalists, the former secretary to the local government explained that he was persuaded by various political interest groups in the area who have severally lobbied him to come out A well educated young politician has his first degree in Industrial Chemistry and two masters degrees in chemical engineering and operations research from the University of Lagos and Certification in Oracle 9i Data administrator from Oracle university in South Africa

In his view, Lagos Island needs to be brought back to its old glory where virtually all the blue-chip companies used to have their headquarters either on Marina or Broad street, saying ‘it is disheartening that almost all the companies now prefer Victoria Island, Lekki or Ikoyi, we must find a way to bring those companies back because the problems are being resolved by the present state governor’

and vie for the position and perhaps make him the only candidate to beat at the moment.

Ojora who presently oversees the Lagos State Law Enforcement Training Institute (LETI) claimed to be the appropriate candidate for the post, having been a Supervisor for works and Secretary to the local government in the past and equally well educated to take the challenge of the council leadership.

According to him, the local government urgently need to fix all the primary health centers and the primary schools to give a decent life to the residents who may not afford the luxury of private consultations.

In this regard, he said an aggressive close collaboration with the state government is needed to fast track all these massive transformation which are very achievable with a visionary leader like himself.On his confidence to clinch the ticket of his party, All Progressive Congress, Ojora opined that APC is a party of democrats that will give a level playing ground to all aspirants and because of this, he is assured that he is the man the party will put forward to contest the July election.
Reeling in comfort of his royal blood, the prince who pride himself as the home boy of Lagos Island called on his people to rally round him to achieve the dream of a new Lagos Island.
“At the moment we need to key our ideas into the state governor’s vision to take our area to the next level. We should key into the proposed regeneration program of the Marina by Governor Ambode to benefit our people in terms of jobs and empowerment” he said...

ETI announces 15% increase in PAT N18.68bn for Q1 2017

                              

As part of its re-engineering effort and coming from a loss position in 2016, Ecobank transnational incorporated (ETI) has announced 15 per cent increase in profit after tax to N18.7 billion for the first quarter (Q1) ended March 2017.
The financial institution in the first quarter of 2016 posted N16.2 billion profit after tax.
Ecobank had announced a loss before tax of $131million in 2016 financial year as against profit before tax of $205million recorded in 2015,  attributable to higher loan impairment charges taken in fourth quarter of 2016.
Ecobank in its unaudited result and accounts to the Nigerian Stock Exchange (NSE) on Thursday, stated that profit before tax gained 11 per cent to N22.9 billion in Q1 2017 from N20.6 billion recorded in Q1 2016.
Gross Earnings rose by 36 per cent from N131.39 billion in Q1 2016 to N178.4 billion in Q1 2017 while operating profit before impairment losses gained 36 per cent from N33.89 billion to N46 billion in first quarter of 2017.
In a statement, the Group Chief Executive Officer, ETI, Mr.  Ade Ayeyemi, said, “Our performance in the first quarter was encouraging despite continued macroeconomic headwinds.
“All of our businesses made meaningful progress in executing our strategy by continuing to focus on cost discipline, stringent credit risk practices, and digitisation of processes to enhance the customer experience.
“Our first quarter revenues of $425 million (N130 billion), increased three per cent in constant dollars, while operating expenses were flat, year-on-year.
“Preimpairment income increased 10 per cent in constant dollars, reflecting positive operating leverage.
“The cost-to-income ratio of 64.5 per cent was an improvement on the 66.1 per cent for 2016, reflecting strong efficiency gains. However, pre-tax profits decreased 17 per cent in constant dollars, mainly because impairments remain elevated as we forecast, for which we continue to aggressively address in our ongoing overhaul of credit risk management. We delivered a return on tangible equity of 16 per cent.
“Our diversified business model and pan-African footprint is a competitive advantage for us. It allows us to meet the trade finance, cash management, and online and mobile financial needs of our clients across Middle Africa with unique financial products and services.
“Together with the more than 17,000 Ecobankers, I am proud of what Ecobank continues to do for its customers,” he said.
ETI’s total assets rose by 36 per cent from N4.6 trillion in 2016 to NN6.26 trillion as at March 2017, driven by 28 per cent increase in loans and advances to customers to N2.8 trillion as at March 2017 from N2.2 trillion recorded in 2016 financial year results.
Other key contributors to the financial institution balance sheet include 32 per cent increase in deposits from customers to N4.15 trillion as at March 2017 and 12 per cent increase in total equity from N505.5 billion in 2016 to N565.7 billion as at March 2017.
Market watchers are expecting the commencement of the proposed $400million convertible bond issue this year.

UBA Group Starts Strong in 2017, Grows Profits By 41% In First Quarter

    Its African subsidiaries wax stronger, contributing 35% of earnings

The Pan African financial institution, United Bank for Africa (UBA) has released its unaudited first quarter results, showing significant growth across major income lines.

Following a sterling performance in 2016 financial year, UBA Group delivered another impressive 41% percent year-on-year growth in profit-before-tax in the first three months of 2017. Leveraging on strong growth in both interest and non-interest income as well as increased efficiency, UBA recorded N25.5 billion in profit before tax in the first quarter, ending March 31st 2017, compared to N18.1 billion achieved in the first quarter of 2016. The Group also recorded a profit after tax of N22.4 billion in the first quarter, an impressive 32 percent year-on-year growth compared to N17.0 billion achieved in the corresponding period of 2016. The group sustained its strong profitability recording an annualized 19.4% Return on Average equity(RoAE).

Driven by an unprecedented 43% year-on-year growth in interest income, UBA Group recorded a 38% percent year-on-year growth in gross earnings to close at N101.2 billion for the three months period ending March 2017, compared to N73.7 billion recorded in the first three months of the year 2016.

The Group Managing Director/CEO of the United Bank for Africa Group (UBA), Mr. Kennedy Uzoka, expressed satisfaction with the Bank’s impressive performance in the first quarter of 2017, despite intensifying competition and a very challenging business environment.

"Our performance in the first quarter of the year strengthens our optimism on economic and business recovery in Nigeria and many of our markets across Africa. More importantly, this result is evidence of efficiency gains in our pricing, balance sheet management and operations,”  Uzoka said. ing Loan ratio stood at 3.95%, with a 136% provisions coverage, inclusive of regulatory risk reserve.  We remain well capitalized and liquid to fulfill our growth strategy; 19.4% BASEL II capital adequacy ratio and 41% liquidity ratio, which present opportunity to explore the headroom in our low LTD of 61%,” Nwaghodoh said.

“Driven by our balance sheet liquidity, we grew interest income by 43% to an unprecedented quarterly run-rate of N77 billion. Buoyed by improving foreign currency supply in Nigeria, remittance and trade services fees almost doubled and foreign currency trading income grew by 148% year-on-year, as we leveraged our Customer First initiatives to gain market share in these offerings. More so, it is my pleasure to report that we made further progress in our consistent retail penetration, as reflected in the 12% year-to-date growth in retail savings and current account deposits. Notwithstanding the tight interest rate environment, we recorded a 30bps reduction in cost of funds to 3.4%, a positive result of our customer service-led approach to low cost deposit mobilization. As at Q1, low cost savings and current accounts (CASA) represent 80% of our deposit funding,” Uzoka explained. 

While emphasizing the increasing relevance of its African operations to its bottom line, Uzoka said, “Our businesses outside Nigeria continued to wax stronger, contributing 35% of our earnings. We remained prudent in risk asset creation growing net loans by 2% year-to-date, as we have continued to monitor development in key sectors of the economy to take advantage of emerging bankable opportunities in due time. Albeit the structural challenges that exist in Africa, the opportunities and returns are immense and compelling. We will deepen our penetration across our chosen markets, as we diligently execute our strategies for consistent market share gain.”

Also speaking on UBA’s financial performance and position, the Group CFO, Ugo Nwaghodoh, said the Bank’s performance in the first quarter further proves its resilience and very strong prospect of the business across its chosen markets.  He said that beyond the sterling growth in top and bottom lines, he remained particularly impressed with the quality of the earnings, which reflects the bank’s focus on the core business of financial intermediation and transaction banking.

“We remain steadfast on our prudent and proactive risk management, which helps to minimize the impact of the macroeconomic pressures on our portfolio. Our non-perform