By Modupe Gbadeyanka
Amber Energy Drink shone brilliantly like the northern stars at the prestigious Marketing Edge Excellence Award held recently at the D’Podium International Event Centre on Aromire Avenue, Lagos.
At the event, when the premium energy drink from Amber Drinks Limited was announced as the winner of the Product Launch of the Year category, the spotlight was on the company.
According to the Publisher/CEO of Marketing Edge, Amber energy drink won the award because of its “grand entry into the market a few months ago shattered myths, broke records, set new standards in innovation, instant market penetration; and carved a niche for itself.”
He said this “will be difficult for any new product in the market to match. Its profile has been rising since inception; and its penetration of the market has been significantly phenomenal!”
Recall that in July 2020, Amber was launched at an exclusive virtual media event in compliance with the COVID-19 protocols of the federal government.
Since the unveiling, the product has found its way to the top of the highly competitive Nigerian energy drinks market, disrupting the status quo.
The brand was able to quickly register itself as a result of its innovative strategies, including the launch of its Corporate Social Responsibility (CSR) initiative through the Amber Free Bus Ride project.
The Amber Free Bus Ride project was a major charity project the brand initiated to allow commuters in Lagos metropolis enjoy free BRT bus rides to their destinations for three months. It was one unique effort that resonated quickly with the Lagos state residents many of whom became early converts to the premium energy drink.
As if this was not enough, the energy drink brand began an ambitious empowerment programme where over one thousand Nigerians have been assisted to become their own bosses by starting their own enterprises.
The empowerment programme, which continues to record huge successes with more participants, has been providing Nigerians with the opportunity to own and grow their businesses through soft loans and business support initiatives. It was introduced as a solution to the challenges of unemployment and targeted at poverty alleviation and also to help generate jobs and income.
All these have helped the new Amber Energy Drink to gain traction, driving sales in the Nigerian burgeoning energy drinks market with the product rapidly penetrating major stores and trade outlets in Lagos State.
With reduced caffeine and taurine content, the beverage brand is scientifically formulated to provide an incredible energy boost for those who lead active and exhausting lifestyle, ranging from sports to entertainment.
It is also fortified with amino acid, citric acid and essential B-vitamins in addition to Guarana spice, which is required daily to fight fatigue, improve concentration and keep the body energized all day long.
Jumia Achieves Growth With Cost Discipline in Q1 2021
By Dipo Olowookere
The continued implementation of the cost discipline strategy by the management of Jumia has further yielded good result, going by the details of the financial statements of Africa’s e-commerce market leader for the first quarter of 2021 released recently.
For the sixth consecutive quarter, the company recorded a positive gross profit after fulfilment expense, which reached €6.2 million.
Analysis of the results showed that Jumia is making significant inroads in payment and fintech, with 37 per cent of orders in the Q1 of 2021 completed using JumiaPay.
The report revealed that total payment volume on JumiaPay increased by 21 per cent from €35.5 million in Q1 2020 to €42.9 million in Q1 2021. On a constant currency basis, TPV increased by 35 per cent year-over-year.
On-platform penetration of JumiaPay as a percentage of GMV increased to 26.0 per cent in the period under review from 18.7 per cent in the same period of 2020, while JumiaPay transactions increased by 7 per cent from 2.3 million in Q1 2020 to 2.4 million in Q1 2021.
Overall, 36.7 per cent of orders placed on the Jumia platform in the first quarter of 2021 were completed using JumiaPay, compared to 35.5 per cent in the first quarter of 2020. Jumia Food and on-demand services accounted for 22 per cent of orders and 9 per cent of GMV in the first quarter of 2021.
Likewise, annual active consumers reached 6.9 million in the first quarter of 2021, up 7 per cent year-over-year, as the platform continued to acquire new consumers and engage existing ones.
Orders reached 6.6 million, up 3 per cent year-over-year, a reversal of the declining trend observed over the prior two quarters.
“Our first-quarter results reflect solid progress towards profitability. The drivers remain consistent; selective and disciplined usage growth, gradual monetization and continued cost discipline,” the co-CEOs of Jumia, Jeremy Hodara and Sacha Poignonnec, were quoted as saying in a statement.
They stated that, “Adjusted EBITDA loss contracted by 24 per cent year-over-year, reaching €27.0 million.
“Our strategy to increase our exposure to everyday product categories continues to yield positive results, enhancing the relevance of our marketplace for consumers.”
As per the steps being taken towards the $10 billion market capitalization, the CEOs said, “We have raised over $570 million over the past 6 months, strengthening our balance sheet and increasing our strategic flexibility.
“We are confident that we have all the right ingredients to continue to build a growing business across both our e-commerce and fintech activities.”
Mouka Shines at Nigerian Real Estate Awards
Mouka, Nigeria’s leading manufacturer of mattresses, pillows and other bedding products, has won the Most Outstanding Foam and Mattress Company of the Year at the Nigerian Real Estate and Property Awards 2021 held in Lagos recently.
The award was bestowed on Mouka for its laudable achievements in the sleep sector and its reputation for exceptional product quality.
The company’s Chief Executive Officer, Mr Raymond Murphy, stated that this award from the Nigerian Real State reflects what Mouka is experiencing in this sector of the economy. He commented that Mouka is seeing a major uptick in demand from affluent Nigerians who are in the process of acquiring a new property.
They expect the best and usually import products. It is partly for that reason that Mouka designed and recently launched their new Royal Pillow Top Mattress.
This is a top of the range, international spec mattress that is expertly crafted to international standards in a dedicated facility in Lagos. The product is comparable with any similar top-end mattress to be found in the UK, USA or Europe, except at half the price and in Naira!
In her remark, Mouka’s Head of Marketing, Tolu Olanipekun, affirmed that the awards, like others, won in the past, attest to the remarkable craftsmanship of Mouka, which has spanned over the past 61 years. She added that Mouka remains committed to safeguarding consumers’ wellbeing through its sleep solutions.
As the promoter of healthy sleep, Mouka has a portfolio of quality products such as Wellbeing orthopaedic mattresses, in addition to the Royal luxury pillow top mattress, Mondeo plus Spring mattress, and a wide range of pillows to help all Nigerians sleep well and wake up refreshed. Mouka really is ‘Adding Comfort to Life’.
Rising Wheat Consumption in Nigeria Creating Job Opportunities—Crown Flour
By Aduragbemi Omiyale
The rising consumption of wheat derivative foods in Nigeria is stimulating job opportunities at the production, processing, distribution, warehousing and retailing levels of the wheat value chain, Crown Flour Mill Limited, a subsidiary of Olam Nigeria, has disclosed.
“Presently, the wheat value chain accounts for over 10.5 million jobs generated annually in Nigeria.
“This of course has placed the wheat value chain at the centre of the various economic development agenda of the federal government of Nigeria,” the Managing Director of Crown Flour, Mr Ashish Pande, said last Friday when he led the company’s senior management team to the Minister of Labour and Employment, Mr Chris Ngige, in Abuja.
Recent government data revealed that in the fourth quarter of 2020, 33.3 per cent of the Nigerian labour force was unemployed. While the various COVID-19 curtailment policies have been relaxed to some extent, various socioeconomic disruptions continue to pile pressure on businesses and jobs.
Hence, it is estimated that the current unemployment figure in the country is expected to increase even further in 2021 and 2022.
All jobs being generated in the country in the current economic crunch and particularly along the wheat value chain are critical to positively impacting livelihoods, feeding the nation, and stimulating economic growth.
During the visit, Mr Pande, represented by the Corporate Affairs Manager of Olam Nigeria, Ms Damilola Adeniyi, assured the Minister that the firm will continue to collaborate with other stakeholders within the local wheat value chain in sustaining the socio-economic value proposition of the sector.
He disclosed that flour millers will continue to take bold developmental steps through scaled investments in critical areas, including seed trial and research, training of smallholder wheat farmers and funding of the various farming research institutes in the country to ensure that the current local production level of the wheat crop improves significantly.
“While these efforts have ensured that we keep providing affordable and quality food for the growing Nigerian population, they have also helped to increase the number of jobs being created for the active segment of the population.
“Overall, the investment efforts, which extend to capacity building initiatives for bakers, are beginning to yield positive results,” he stated.
Stressing further on the importance of the local wheat value chain, Mr Pande said that while prices of other major national staple foods such as rice, garri, yam and beans have risen sharply by 3.2 per cent, 6 per cent, 5.3 per cent and 13.4 per cent respectively, in the past months, the prices of wheat derivative foods have been largely cushioned from the inflationary trend by local millers and bakers who continuously absorb the extra cost of production to keep feeding the population.
The solicited the backing of the Minister to ensure that millers continue to deliver on their employment generating potential, noting that, “If the current wheat value chain developmental drive is sustained, it would help secure the jobs of many Nigerians while ensuring that more homes continue to gain access to affordable quality wheat derivative foods such as semolina, bread, noodles and pasta.”
In response, Mr Ngige lauded Crown Flour and the other millers for their economic development drives, saying, “The Ministry of Labour and Employment is committed to supporting efforts that are geared towards providing good jobs for Nigerians and ultimately growing the economy.”
Also, the Minister expressed his delight over the extensive investments that the Olam group has made and continues to make in Food & Agricultural value chain.
He said, “The level of investment presently being channelled into developing the value chain is of paramount importance to help reduce the level of unemployment and underemployment in the economy.”
According to Ngige, “Sustaining and scaling the current level of developmental projects in the value chain is key to keeping Nigerians gainfully employed and well-nourished.
“At the Ministry of Labour and Employment, we will continue to support your drive as a critical partner in achieving national economic prosperity through expanded local production that can deliver more employment opportunities for the teeming Nigerian population.”
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