News Wings

Tag: business operations

  • CANAL+ Unveils New Africa Leadership Team

    CANAL+ Unveils New Africa Leadership Team

    …The new leadership will operate as a single management team covering the entire African continent, structured into three divisions: Operations (TV and Fiber activities), Content, and Corporate Functions

    C+ is proud to unveil its new leadership team for combined businesses in Africa

    Calvo Mawela, outgoing CEO of MultiChoice, is appointed as Chairman of CANAL+ Africa, which now includes MultiChoice Group and the whole of Africa including French speaking territories. David Mignot is appointed Chief Executive Officer (CEO) of this new combined entity. The newly formed top management team is drawn from the two companies’ combined talent pool, with CANAL+ and MultiChoice each contributing an equal number of senior executives.

    Congratulating the new management team, David Mignot, CEO for Africa, said: “We have an incredible Africa leadership team and has an exceptional track record across the continent and within the global group.  Working together, we will deliver growth across the continent by telling unique, high-quality African stories, bringing great international content to our subscribers and leveraging our scale across the global company. With seven nationalities represented, this leadership team has the diversity, knowledge and networks to deliver best in class services and content for our subscribers – all enabled by commercial and technical excellence.”

    New Leadership Appointments

    The new leadership will operate as a single management team covering the entire African continent, structured into three divisions: Operations (TV and Fiber activities), Content, and Corporate Functions.

    The new C+ Africa Leadership team is:

    • David Mignot, CEO, Africa
    • Nicolas Dandoy, CFO, Africa   
    • Aziz Diallo, CEO, PayTV French-speaking Africa
    • Byron du Plessis, CEO, PayTV South Africa
    • Fhulufhelo “Fhulu” Badugela, CEO, PayTV Rest of Africa
    • Jean-François Duboy, CEO, GVA
    • Hennie Visser, Director, Business Operations, Africa
    • Fahmeeda Cassim-Surtee, CEO, Advertising and Media Sales, Africa
    • Fabrice Faux, Director, Content, Sport and General Entertainment French-speaking Africa
    • Nomsa Philiso, Director, Content, General Entertainment, English and Portuguese-speaking Africa
    • Rendani Ramovha, Director, Content, Sport, English and Portuguese-speaking Africa
    • Clément Hellich-Praquin, General Secretary, Africa
    • Jean-Christophe Ramos, Director, Public Affairs French-speaking Africa
    • Keabetswe Modimoeng, Director, Public Affairs English and Portuguese-speaking Africa
    • Michel Sibony, Chief Value Officer, Africa
    • Karim Bouzid, Director, Integration, Africa
    • Hala Saab, Director, Brand and Communication, Africa
    • Sabelo Mawali, Chief Technology Officer, Africa
    • Tshepi Malatjie, Director, Human Resources, Africa

    Steven Budlender and Timothy Jacobs will each hold a senior position in the combined Group. Steven will be managing legal affairs for English-speaking Africa countries and Timothy will be managing synergies in Finance department.

  • LCCI Commends CBN for the Removal of Price Verification System

    LCCI Commends CBN for the Removal of Price Verification System

    The Lagos Chamber of Commerce and Industry (LCCI) applauds the Central Bank of Nigeria (CBN) for its recent decision to discontinue the Price Verification System (PVS) Portal, effective July 1, 2024. This commendable step directly responds to the persistent advocacy efforts of LCCI and other stakeholders in the organized private sector, aiming to create a more conducive business environment in Nigeria.

    In a statement signed by the Director-General of LCCI, Dr Chinyere Almona, FCA, the CBN introduced the Price Verification System Portal to ensure accurate pricing of goods and services for foreign exchange transactions and to prevent over-invoicing and under-invoicing. While it intended to foster fair pricing in Nigeria’s import and export activities, the PVS Portal had inadvertently become an impediment to business operations, particularly for importers. The mandatory Price Verification Report for completing Form ‘M’ added bureaucratic hurdles and operational inefficiencies that negatively impacted the business community.

    The LCCI, representing the interests of the organized private sector, has continuously highlighted these challenges to the CBN and the government. Our concerted efforts, including engaging in dialogue with key stakeholders and presenting data-driven evidence on the adverse effects of the PVS, have culminated in this favourable outcome. The high level of responsiveness of the present government to our advocacy on several issues affecting the private sector is indeed commendable.

    The Chamber is also delighted with the similar stance on exempting Small and Medium Scale Enterprises (SMEs) from withholding tax, and the suspension of VAT and import duties on medical supplies. These non-cash interventions, which the Chamber has recently been recommending to the government, have the capacity to gradually and consistently ease the inflationary pressures recorded in the economy in the past two years. These policy interventions by the government will enhance the ease of doing business in Nigeria. The LCCI appreciates the government’s responsiveness and commitment to addressing the concerns of the organized private sector.

    Discontinuing the PVS will have several positive impacts on the Nigerian economy:

    1. By removing the Price Verification Report requirement, businesses will experience reduced delays and lower operational costs. This will streamline the importation process, allowing timely access to essential inputs and fostering higher production levels in the manufacturing sector.
    2. Reducing bureaucratic bottlenecks will make Nigerian businesses more competitive globally. Lower operational costs and improved efficiency will enable businesses to offer more competitive prices, increase market share, and expand their export potential.
    3. The policy change aligns with the CBN’s mandate of maintaining price stability and promoting sustainable economic growth. By reducing the cost of doing business and enhancing supply chain efficiency, the policy is expected to exert downward pressure on production costs, thereby curbing inflation.
    4. With more certainty about the pricing of goods, importers can plan better and reduce losses due to unexpectedly higher prices from such automated price verification systems.

    The LCCI commends the CBN for this strategic move and reaffirms our commitment to continuing our advocacy efforts to foster a business-friendly environment in Nigeria. We look forward to further collaborations with the CBN and the government to ensure that policies are in place to support the growth and development of the private sector, ultimately driving Nigeria’s economic prosperity.

  • FirstBank unveils new Retail Products

    FirstBank unveils new Retail Products

    First Bank of Nigeria Limited has announced its variety of retail products specifically designed to enhance the operations and sustenance of various businesses in the country. The products: Petroleum Dealership Finance (PDF), Operational Vehicle Finance (OVF) and Commercial Mortgage will strengthen the capacity of businesses to meet their immediate and long-term needs which are required to continually impact the socio-economic development of the country.

    Commercial Mortgage (CM) is designed to meet the funding needs of established small and medium-scale enterprises in viable businesses to acquire Office Premises. This product is structured to part finance the acquisition of business /office premises and warehouses as the building itself is collateral. With its competitive pricing entailing a tenor of 60 months, flexible repayment period as well as flexible collateral structure, the product is designed for SMEs across different sectors of the country including accounting, tech, legal and other specialised disciplines. To access the product, customers must have been in business for at least 5years and must have maintained an active account with either FirstBank or any reputable bank for a minimum of 6 months.

    Operational Vehicle Finance (OVF) is intended to provide part finance to ease the acquisition of brand-new vehicle(s) essential for the day-to-day running of business activities. Its flexible tenure is in 2 variants, comprising 1 – 24 months and 2 – 36 months which is dependent on the brand of the vehicle.  The product is also designed for SMEs as well as traders in all sectors of the economy with verifiable cash flow as they will be at an advantage in sustaining the distribution of goods from one location to another. To be eligible for the service, the customer must have been in business for at least 12 months and should have maintained a healthy and active bank account with either FirstBank for a minimum of 6 months or 12 months with other banks.

    Petroleum Dealership Finance (PDF) is created to offer working capital finance to filling stations with a DPR licence for the purchase of kerosene (DPK), petrol (PMS), and diesel (AGO). This product facilitates access to financing opportunities to purchase products at competitive rates. A 12months facility tenor with a cash flow lending option up to N20M is also available. The product is packed with lots of exciting benefits including access to up to N20million without providing tangible collateral as it bridges the customers’ liquidity gap while also aiding the continuous stock replenishment. The product also provides the opportunity to increase the volume of business as well as margins through consistent growth in turnover through credit financing.

    To take advantage of the product, interested customer(s) must have a valid DPR license, and maintain an account relationship with FirstBank or any bank for at least 6 months. The dealer must have been in business for at least 24 months and the account must have been operated satisfactorily without a history of returned cheques or previous default on facility or facilities granted.

    According to Folake Ani-Mumuney, Group Head, Marketing & Corporate Communications, FirstBank: “as a bank woven into the fabric of society, we are delighted with the indelible mark and role we have played in boosting businesses in the country, irrespective of the economic sector. Our Commercial Mortgage (CM), Operational Vehicle Finance (OVF) and Petroleum Dealership Finance (PDF) are integral to sustainably enhancing business operations while ensuring that our customers remain at an advantage in meeting their immediate and long-term business goals.”