AFRICAN BUSINESS MANAGEMENT

AFRICAN BUSINESS MANAGEMENT

The ETK group introduces the first globally recognised qualification to come out of Africa that also addresses the uniqueness of the African business market. The ABM is the first and only UK accredited Level 6 Qualification that equips its students with the practical knowledge they need to be successful doing business on the African continent.

The launch of this qualification in Nigeria is taking place at the British High Commission Residency at 7 pm tonight bringing together Nigeria’s top brass in HR, Recruitment and Training to see how they can make their businesses more successful and profitable by having employees qualified in the ABM.

The perception of Africa as one homogenous society has informed how many individuals and organisations try to engage the continent when conducting business. This includes African businesses going into other African markets. There are high expectations for Africa as the next leading global economic player. Of the ten fastest growing economies in the world, seven hail from Africa. Nigeria- one of these seven – has now surpassed South Africa as the biggest African economy and is part of the newly formed acronym: MINT, as one of the top four economies to watch. There has been a stark disconnect between actual practical knowledge about how business is conducted in the various African markets; and the more Eurocentric approach to academic education. To meet this challenge, the Enterprise, Training & Knowledge (ETK) Group, through their education arm – ETK Educational – has created a dais in the form of this very unique business management qualification.

The ABM was developed by Africans and business men who have conducted business in Africa and whose successes as well as failures have helped develop the content of this course. It is an intensive 3 -day course of degree level difficulty which is very practical in its approach. Accredited by the UK awarding body Industry Qualifications (IQ), the content is constantly updated with local knowledge and information from a host of grass roots contacts, researchers, consultants and partners on the ground.

“Perhaps the most inspiring and arresting management course I have ever taken. In three days, African business and its potential became worth its weight in Gold!” – Segun Lawal, Accountant

“A very informative and useful class. Relaxed delivery of content and outstanding knowledge of Africa.” – Richard Price, Security Risk Expert

“The organisation, course and content delivery were excellent and I learnt a lot especially about the psychology of African business culture.” – Beatrice Njindou, Marketing Consultant

The ABM has a variety of modules including Market Entry Strategy, Risk Management, Human Resource Management, Project Finance, Project Management, Post-Conflict Africa, Exporting Africa, Working in Africa and Agribusiness delivered at partner centres in 5 countries globally. It can also be tailored to specific organisations’ needs and delivered in-house.

Jonathan Suspends Sanusi Lamido Sanusi As CBN Governor

Jonathan Suspends Sanusi Lamido Sanusi As CBN Governor

President Goodluck Jonathan on Thursday suspended Mallam Lamido Sanusi as the Governor of the Central Bank of Nigeria. The suspension order was contained in a statement by the Special Adviser to the President on Media and Publicity, Dr. Reuben Abati.

Abati said Jonathan had found out that Sanusi’s tenure as the CBN governor has been characterised by acts of financial recklessness and misconduct which are inconsistent with his administration’s vision.

He named a Deputy Governor of the CBN, Dr. Sarah Alade, as the acting governor. He said Alade would remain in charge until the conclusion of ongoing investigations into breaches of enabling laws, due process and mandate of the CBN.

The statement read, “Having taken special notice of reports of the Financial Reporting Council of Nigeria and other investigating bodies, which indicate clearly that Sanusi’s tenure has been characterized by various acts of financial recklessness and misconduct which are inconsistent with the administration’s vision of a Central Bank propelled by the core values of focused economic management, prudence, transparency and financial discipline.

“Being also deeply concerned about far-reaching irregularities under Mallam Sanusi’s watch which have distracted the Central Bank away from the pursuit and achievement of its statutory mandate; and “Being determined to urgently re-position the Central Bank of Nigeria for greater efficiency, respect for due process and accountability, President Goodluck Ebele Jonathan has ordered the immediate suspension of Mallam Sanusi Lamido Sanusi from the Office of Governor of the Central Bank of Nigeria.

“President Jonathan has further ordered that Mallam Sanusi should hand over to the most senior Deputy Governor of the CBN, Dr Sarah Alade who will serve as Acting Governor until the conclusion of on-going investigations into breaches of enabling laws, due process and mandate of the CBN.

“The President expects that as Acting Governor of the Central Bank, Dr. Alade will focus on the core mandate of the Bank and conduct its affairs with greater professionalism, prudence and propriety to restore domestic and international confidence in the country’s apex bank.

“The Federal Government of Nigeria reassures all stakeholders in Nigeria’s financial and monetary system that this decision has been taken in absolute good faith, in the overall interest of the Nigerian economy and in accordance with our laws and due process.”

Political analysts are seeing this as a short-cut to the removal of Sanusi as the Governor of CBN by the Jonathan administration. With time we shall get to see the full picture.

Good Bless Nigeria.

Troyka Holdings Hires Tayo Oyedeji as MD Media Perspectives

Troyka Holdings Hires Tayo Oyedeji as MD Media Perspectives

One of Nigeria’s media specialist agency, Media Perspectives, a member of the Troyka Holdings has announced the appointment of Dr. Tayo Oyedeji as its Managing Director following the departure of Emeka Okeke, the pioneer Managing Director of the agency who resigned his appointment at the end of 2013.

Tayo Oyedeji holds Ph.D. in Media Management from the University of Missouri-Columbia, USA and an MBA in General Management from Oxford University, UK. He will provide strategic leadership and oversee the day-to-day operations of the agency.

He brings 16 years of corporate and academic work experience spanning media advertising, management consulting and financial services in Africa, Europe and North America to his new position.

Until his recent appointment, Dr. Oyedeji was the General Manager/Chief Operating Officer at Credit Direct Limited, one of Nigeria’s top financial services company with annual turnover in excess of N15billion. He was responsible for managing the operations of about 1,500 employees in 50 branches across 24 states of Nigeria.

Before his stint in financial services, Dr. Oyedeji was the Director of Business Development at MediaReach OMD where he pioneered the digital media business unit and was led the Etisalat account management team.

Culled from: brandworknigeria.com

First Bank, Ranks Number One Banking Brand for the 3rd year in Nigeria in World Top 500 Banking Brands

First Bank, Ranks Number One Banking Brand for the 3rd year in Nigeria in World Top 500 Banking Brands

First Bank of Nigeria Limited, for the third consecutive year, has been ranked as Nigeria’s number one banking brand in the 2014 The Top 500 Banking Brands Ranking of the world just released by The Banker Magazine, Financial Times Group in its February edition and Brand Finance in the United Kingdom.

According to a release by the Country Representative – Nigeria, The Banker, Mr. Kunle Ogedengbe, First Bank which was also ranked number one banking brand in 2012 and 2013, came top amongst the Nigerian banks and was joined in the ranking in second and third by Guaranty Trust Bank and Zenith Bank respectively.

First Bank is ranked 382 in the world from 414 last year. The brand value of the bank also increased to $228 million from $201 million from the preceding year. Guaranty Trust Bank ranked 422 from 415 while Zenith Bank is ranked 453 from 454 last year. Apart from the three banks, no other Nigerian bank made the ranking.
Brand Finance is the world’s leading brand valuation consultancy which advises branded organisations on how to maximize their value through the effective management of their brands and intangible assets.
According to The Top 500 Banking Brands report, though there are numerous ways of calculating brand value, Brand Finance which complied the ranking used royalty relief method that values the brand based on what would be paid to use the brand if it were owned by a third party. The method is recognized by courts and tax authorities.

The valuations of the brand take into account brand-specific financial and revenue data, model the market to identify market demand and the position of individual banks in the context of all other market competitors, establish the royalty rate for each bank, calculate the discount rate specific to each bank (taking account of its size, geographical presence, reputation, gearing and brand rating) and discount future royalty stream to a net present value, that is, the brand value.

According to the Africa Editor of the magazine, Mr. Paul Wallace, brand value of Nigerian banks increased by three per cent to $593 million. This made Nigeria to be among the Top 50 countries of the world by total brand value.

The top ten banking brands in the world remain in America, Europe and Asia. The 2014 number one banking brand in the world is Wells Fargo (USA) which was second last year. It is followed by HSBC (UK) Bank of America, Citi, JP Morgan Chase (all from USA), ICBC (China), BNP Paribas (France), Santander (Spain), China Construction Bank and Agricultural Bank of China.