Brands/Products
How a Community Benefits from Industrialisation: The Rite Foods Example
To acknowledge entrepreneurship and individuals advancing the frontiers across the world, August 21 is celebrated as ‘World Entrepreneurs Day’ every year. This year’s celebration, which took place on Monday, has once again re-echoed the essence of the pivotal role entrepreneurship and industrialisation play as epicentres of human and societal development of any nation, thereby validating the vision of Rite Foods in its quest to democratise a holistic economic revolution from agriculture to industrialisation and urbanisation.
According to research, entrepreneurship across developed economies and developing one’s account for 80% of any society’s overall employment and urbanisation development, thereby making them critical components of any societal development, sustainability, and the engine room of any economy.
A good example of this human and economic development assertions has therefore been demonstrated by Rite Foods. The organisation strongly believes that without entrepreneurship, it is almost certain that the great economic potentials of any nation might not be fully unlocked; hence, it has continued to push the frontiers of entrepreneurship and industrialisation, which represents a ”way out” for low-income rural areas and can alleviate socio-political challenges of unemployment and under-development while boosting general economic and social betterment of Ososa. In fact, as a social human capital strategy, since Rite Food came onto the scene, its major recruitment policy has been such that the local indigenes of the communities have enjoyed a considerable ratio, especially within areas requiring less skilled expertise, which has tremendously boosted job creation.
Before the revolutionary industrialisation of Rite Foods into the serene Ososa community, it was simply renowned as the town of the late Herbert Adedeji Ogunde, the progenitor of the first contemporary professional theatrical company in Nigeria, largely due to his theatrical exploits during that era. Today, the town has transitioned from a drama stead to a world-class industrialisation hub due to the activities of Rite Foods within that community coupled with its grand leap in the FMCG industry through its world-class industrialisation activities, which have continued to unlock the economic potentials of Ososa while also promoting socio-economic development in the larger Nigerian food and allied value chain. The Rite Foods multi-billion dollar factory, which commenced operations in Ososa in 2013, has expanded its exploits across multiple food and beverage product brands over time.
As a pioneering innovation-driven leader in its industry in Nigeria and the African region, the factory is automated with little or no human interference, generating its source of power supply via the largest solar plant in West Africa that produces 32 megawatts of electric, Gas and Diesel-induced plant connected to the national grid that facilitates seamless, 24/7 uninterrupted power supply to the highly sensitive, sophisticated technological factory which it also deploys to boost the power supply needs of its host community, Ososa, and its proximate rural communities.
According to Seleem Adegunwa, Managing Director, Rite Foods, ”For us, the vision to industrialise our rural communities has often been one of the focus of our management’s leadership strategy, hence our systematic approach towards the realisation of our goal. Rite Foods implements inclusive community relations and corporate philanthropy that benefits the Ososa community, including infrastructural development and education through which it has helped to bring a meaningful difference to the lives of the host communities,” he avowed.
Consequently, the efforts of Seleem Adegunwa, Managing Director of Rite Foods, have never gone unnoticed in this direction. In March 2023, he was nominated for the highly coveted Ernst & Young [EY] Entrepreneurship Award [Master Category] as a continental honoree in recognition of his sterling entrepreneurship exploits.
By Adedapo Adesanya
Netflix has reached a deal with Warner Bros. Discovery to buy the legendary TV and movie studio and assets like the HBO Max streaming service for $82.7 billion.
Warner Bros. Discovery is moving forward with its plans to split into two publicly traded halves in 2026. Once the split takes effect, Netflix intends to acquire the Warner Bros. half. The other half, Discovery Global, will house CNN and other cable channels. The Warner Bros. half includes its film and television studios, HBO Max and HBO.
The transaction values Warner Bros. Discovery at $27.75 per share, implying a total equity value of approximately $72.0 billion and an enterprise value of approximately $82.7 billion.
The deal is subject to regulatory conditions, of which there will be several, due to the size of the companies involved and what it means for competitiveness.
For several weeks, Paramount was thought to be the frontrunner in the auction for Warner Bros. Discovery. Paramount executives, who want to buy all of Warner Bros. Discovery – including its cable assets – were confident about their merger proposal and their mutually beneficial relationship with President Donald Trump.
However, Netflix surprised many with the boldness of its bids as it agreed to the same costly breakup fee that Paramount proposed, according to reports. This means the would-be buyer will pay Warner Bros. Discovery billions of dollars if the deal is not completed.
“Our mission has always been to entertain the world,” said Mr Ted Sarandos, co-CEO of Netflix. “By combining Warner Bros.’ incredible library of shows and movies—from timeless classics like Casablanca and Citizen Kane to modern favorites like Harry Potter and Friends—with our culture-defining titles like Stranger Things, KPop Demon Hunters and Squid Game, we’ll be able to do that even better. Together, we can give audiences more of what they love and help define the next century of storytelling.”
Mr Greg Peters, the other co-CEO of Netflix, said the acquisition would “improve our offering and accelerate our business for decades to come,” adding: “Warner Bros. has helped define entertainment for more than a century and continues to do so with phenomenal creative executives and production capabilities. With our global reach and proven business model, we can introduce a broader audience to the worlds they create—giving our members more options, attracting more fans to our best-in-class streaming service, strengthening the entire entertainment industry and creating more value for shareholders.”
“Today’s announcement combines two of the greatest storytelling companies in the world to bring to even more people the entertainment they love to watch the most,” said David Zaslav, President and CEO of Warner Bros. Discovery. “For more than a century, Warner Bros. has thrilled audiences, captured the world’s attention, and shaped our culture. By coming together with Netflix, we will ensure people everywhere will continue to enjoy the world’s most resonant stories for generations to come.”
The terms of the agreement will see each Warner Bros. Discovery shareholder receive $23.25 in cash and $4.50 in shares of Netflix common stock for Warner Bros. Discovery common stock share.
By Aduragbemi Omiyale
A global video game commerce company, Xsolla, has integrated Nigeria’s Paga into its payment system, allowing Nigerians more secure payment options.
Xsolla helps developers launch, grow, and monetize their games and with a large market available in Nigeria, with a population of over 230 million people, working with Paga is a good idea.
With services like Pay with Paga, Bank Transfers with Paga, and Cash by Paga, Xsolla provides a comprehensive payment solution that caters to diverse needs.
Serving more than 20 million users and processing massive volumes nationwide, Paga is one of Nigeria’s largest licensed mobile-money operators.
By integrating Paga’s full suite of payment options, players can enjoy seamless transactions, whether through quick in-app purchases, bank transfers, or cash deposits – with instant confirmations and reduced friction for all types of payments.
“Introducing Paga as a new payment method to players in Nigeria reflects our commitment to meeting players where they are,” said Chris Hewish, President at Xsolla.
“Paga’s strong local presence and trusted platform make it easier for Nigerian players to engage confidently, ensuring that convenience and security go hand in hand.”
From Nigeria to the world, Xsolla provides every payment method developers need to grow and monetize their games globally.
Local payment methods are crucial, enabling developers to reach every player, increase transaction conversions, and drive more sales and revenue. With Paga in Nigeria, it’s easier than ever to pay, play, and succeed.
Key benefits of the Paga integration include instant confirmations, localized experiences, and increased market reach and conversion.
By Modupe Gbadeyanka
As part of its strategies to aggressively scale its logistics capabilities across key African markets, especially in Nigeria, the fast-growing global e-commerce powerhouse, Temu, has entered into a delivery partnership with Lagos-based logistics startup, Dellyman.
Through this collaboration, Temu customers in Nigeria will experience faster, more predictable, and more transparent deliveries, a critical factor in sustaining the platform’s customer satisfaction as order volumes continue to rise.
Dellyman’s technology-driven approach, spanning rider management, route optimisation, and customer visibility, played a central role in Temu’s selection process.
In the pilot phase, Dellyman completed more than 1,300 deliveries with a 95 per cent success rate, demonstrating its readiness to support large-scale e-commerce operations nationwide.
Founded in 2020, the firm has grown into one of Nigeria’s most reliable same-day and last-mile delivery platforms.
The company recently achieved a 10,000-order monthly delivery milestone in November 2025, contributing to a cumulative total of more than 300,000 lifetime deliveries.
This track record made Dellyman a strong fit for Temu, which is aggressively scaling logistics capabilities across key African markets.
“Our partnership with Temu is a major endorsement of the vision we set out with, to build Nigeria’s most reliable, scalable, and transparent last-mile delivery infrastructure.
“Achieving a 95 per cent delivery success rate during the pilot underscores our readiness to support high-volume e-commerce platforms.
“This collaboration shows that local startups can meet and exceed global standards when given the opportunity,” the chief executive of Dellyman, Mr Dare Ojo-Bello, said.
He further noted that the partnership represents more than operational growth as it signals a shift in how global e-commerce brands view Nigerian logistics capabilities.
“This is not just about fulfilling orders; it is about reshaping perceptions of what Nigerian delivery companies can achieve. We are committed to building the kind of infrastructure that supports international standards, empowers local businesses, and ultimately strengthens consumer trust in the broader digital economy,” he noted.
Mr Ojo-Bello added that Dellyman will continue investing in capacity, fleet expansion, and merchant-facing tools to ensure superior delivery experiences for Temu buyers and other online shoppers nationwide.
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