By Adedapo Adesanya
In a spirit of partnerships, Movii, a leading mobile wallet challenger bank in Colombia, and Yabx, a leading technology company in contactless lending, have collaborated with Procter & Gamble Retailers to provide credit services in Colombia.
According to research, Colombian MSMEs face a financing gap of $56 billion and this lack of credit access leaves most of these businesses outside the financial institutional framework.
It was because of this problem both parties agreed to join forces to bridge this credit reach gap and bring expertise to these developing markets.
The partnership with Procter & Gamble, a global consumer goods company, is being launched in the South American country, where its wide range of product lines include Personal Care & Hygiene, Food and Beverages among others are in high demand considering the current COVID-19 pandemic.
This contactless service was also introduced considering the pandemic situation in the country and will help businesses with pre-approved credit facilities to purchase their retail stock and cater to the needs of general population amid lock down
With this, businesses can use this credit service to facilitate their business operations and for P&G merchants in Colombia, they can pay for their stock orders using digital credit from their Movii wallet.
These merchants credit limit will be derived using Yabx’s state-of-the-art credit decision analytics engine using advanced machine learning tools. The entire credit journey from onboarding of merchant, credit disbursal and collections would be enabled using Yabx digital lending platform.
Speaking at the launch, Mr Rajat Dayal, Founder andChief Executive Officer of Yabx said – “Usually these merchants rely heavily on cash to purchase their stock. This comes with a lot of problems such as – lack of sufficient cash availability to optimize sales, security risks and inconvenience of handling cash, lack of liquidity management, continuous alienation from credit ecosystem.”
“These problems become even bigger and riskier at the time when the world is facing dreaded COVID-19 pandemic.
“Yabx aims to help these merchants to access easy and affordable credit and enable them to plan, manage and grow their business more efficiently.
“Additionally, merchant network owners like P&G, who have a large merchant base in Colombia, can benefit from this program by enhancing their sales volumes, reduction in cash leakage, better planning and stocking as well as improved transparency in the supply chain.
“In Latin America, which is a special focus region for us, merchant financing is one of the key product to ensure effective management of COVID-19,” he added.
The Chief Executive Officer and Founder of Movii, Mr Hernando Rubio said, “This move at the time of COVID-19 crisis is an important step towards our efforts to bring digital financial services to the under-banked population in Colombia of which MSMEs constitute a significant portion.
“We are planning to roll out this loans program to our larger merchant network and continue working on building partnerships with more CPG networks.
“In addition to this, soon we will be launching more credit use-cases for merchants including cash advances, POS loans.”
Iyayi Redefines Nigeria’s Media Buying Industry With AdTraders
By Modupe Gbadeyanka
The media buying industry in Nigeria will soon witness a transformation with the birth of AdTraders, founded by a respected name in the advertising sector, Ms Elo Iyayi.
Ms Iyayi started her career in advertising in 2004 and worked with notable firms like McCann Erikson, Lowe Lintas Lagos, 141Worldwide, Leo Burnett Lagos and SHAREMIND Lagos.
During this period, she managed accounts of big brands like Nigerian Breweries Plc, British Airways, Unilever Nigeria Plc, where she lent her expertise to well known and loved brands like Close-Up, Knorr, Lipton and Omo, as well as Hayat Kimya, custodians of Molfix, Bebem, Familia and Papia.
She further worked with British American Tobacco (Dunhill, Benson & Hedges, Pall Mall and Craven), as well as Philip Morris- Malboro and Chesterfield.
After working with these brands, she felt there was still a gap somewhere, which inspired her to set up AdTraders and according to her, no one could have anticipated the effect of COVID-19 on an already fragmented audience.
She said even advertisers, who anticipated the decline of TV’s power in the wake of the internet, must be aghast at the impact of streaming channels and podcasts, while less time in the car and office has made significant inroads into radio’s listenership.
Ms Iyayi submitted that such innovation can create havoc for an advertiser or with the right media buying partner by their side, it can create enormous opportunity.
This is why it makes sense to join forces with AdTraders; an agency with the flexibility and foresight to adapt to this ever-changing landscape, she stated.
The industry expert explained that AdTraders’ approach is a long-term one as the agency strives to nurture relationships rooted in a thorough understanding of the brand, its goals and aspirations, so that – through ongoing measurement and a data-driven response – the agency is able to adjust strategies in order to achieve optimal effectiveness.
Ms Iyayi believes that the flux to the media landscape is currently experiencing is just the beginning. Going forward, it is inevitable that the trends that defined innovation today will be forgotten by tomorrow. This is why AdTraders focuses on helping brands get to grips with what may come to be, rather than what is.”
Therefore, in line with this, the agency works non-stop to create real value. This is achieved thanks to the input of a highly experienced team of negotiators, skilled at creating deal structures that make media spend work harder for clients.
Added to this, the team is well-versed in the pros and cons of all media touchpoints, objectively identifying that which offers the most cost-effective buy for clients, she said.
She assured that AdTraders brings a fresh perspective that turns its back on the staid and irrelevant, helping clients to plug into a new type of consumer living in a new type of environment.
Nestle Rebrands Milo RTD Packs for Cleaner Environment
By Ahmed Rahma
A leading beverage company, Nestlé Nigeria Plc, makers of Nestle Milo, has changed the pack of its Ready-To-Drink from plastic to paper straws for a cleaner environment.
In a statement by the company on Monday, this is with the aim of eliminating 60 metric tonnes of plastic yearly.
The company added that the bold step was to deliver on its global commitment to make 100 per cent of Nestlé’s packaging recyclable or re-usable by 2025 to protect the environment.
The newly developed paper straws are 100 per cent biodegradable as well as safe and easy to use and consumers can purchase the new packs starting this February.
Speaking on the paper straws for Milo Ready-To-Drink (RTD), Mr Wassim Elhusseini, the MD/CEO for Nestlé Nigeria, said: “We are proud to take this leading action to protect the environment.
“Transforming how we make, use, reuse and recycle our packaging plays an important role in the bold commitments we have made to reduce packaging waste and mitigate climate change.”
“This is proof that Nestlé and other companies can be a force for good in society by providing products that are good for people and good for the planet,” Mr Wassim reaffirmed.
Also, Mr Olutayo Olatunji, Category Manager, Beverages, Nigeria, stated that, “By introducing papers straws, Milo is shoulder-to-shoulder with consumers to improve our environment.”
“We are doing our best to guarantee that our consumers continue to enjoy the delicious MILO RTD they love with the added assurance that it is packaged safely and sustainably,” he further said.
Nigerian Int’l Trade Expert Unveils Platform to Link Buyers, Sellers
By Modupe Gbadeyanka
One of the major problems Nigerian manufacturers face, especially those on a small and medium scale, is selling their products in the international market.
Selling for export is what many people see as a daunting task but for those who know the nitty-gritty, it is one of the easiest forms of trade.
It is unfortunate that this gap seems to have been left wide open and this may have prompted a Nigerian international trade expert, Mr Olugbemiga Ojo, to take up the task to assist business owners to tackle this issue head-on.
The alumnus of the Harvard Law School on Thursday, February 4, 2021, launched a platform called EXIM Trade Options.
The initiative, which was introduced under Lakinberg LLC, is to boost export and import trade on the African continent and across the world.
The trading platform is structured to manage the end-to-end of the supply chain for both importers and exporters from any part of the world with the protection of the legal framework and insurance against losses.
It provides array of opportunities, with four payment and service packages to accommodate different capabilities including SMEs.
Speaking at the unveiling, Mr Ojo, a Notary Public in Washington DC and the State of Maryland, explained that the new platform creates a seamless flow of the supply value chain linked to reputable buyers and sellers around the world.
He assured that the company will provide end-to-end support to clients’ transactions “whether you buy, sell, or want to see samples [and provide] matches for goods and services that will accelerate your business growth.”
This, Business Post gathered the company hopes to achieve this with the assistance of the brilliant minds on the team, which include Mr Joel Patenaude, who is the Executive Vice President of the company, and Mr Peter Ojo, the Vice President of the firm.
The CEO of Lakinberg LLC, Mr Olugbemiga Ojo, is a renowned corporate commercial attorney with expertise in international trade law.
No wonder at the launch of the platform, several dignitaries and stakeholder in the industry were present to honour him, including the MD/CEO of the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), who was represented by the Assistant General Manager Mr Eze Nwakanwa.
Others at the event were the CEO of the Nigerian Export Promotion Council (NEPC) represented by Mrs Getrude Ukuoanem; Mr Tunde Sodade of Lekki Free Trade Zone and Mr Gary Scotland, the Head of West Africa Trade and Investment Hub at United States Agency for International Development (USAID).
Cold Stone Creamery Unveils Mobile App
By Ahmed Rahma
A leading ice cream brand across the world, Cold Stone Creamery, has launched a mobile application and an e-commerce site to make it easier for its Nigerian customers to make orders.
The company disclosed that the new app is simple, fast, easy to use and offers indulgence on the go, expressing optimism that it would grow its customer base.
“As a food and lifestyle brand, we are all about bringing satisfaction to our customers as well as making their lives easier,” the Marketing Director of Eat’N’Go, Mr Ilyas Kazeem, stated.
“We have offered all kinds of indulgences over the years, and we believe that our customers enjoy our products. It has only become expedient that we make things easier for them by bringing indulgence right to their pocket.
“Now, our customers can order their favourite flavours from the comfort of their homes and have their ice cream delivered to them in minutes. They will also enjoy 50% off select items when they order using the App,” he added.
Commenting further, Mr Ilyas revealed how the brand is fast embracing digital innovations, saying, “Despite being a food brand, we are very big on digital innovations.
“The world is evolving and it’s important who also move with it. So, why not make their favourite dessert available just by tapping a few buttons on their phones.
“We believe that the launch of this App and E-Commerce site is a step in the right direction and we will continue to initiate ground-breaking innovations.”
Cold Stone Creamery is a franchisee of Eat’N’Go Limited. Together with the sister companies, Domino’s Pizza and Pinkberry Gourmet Frozen Youghurt, Eat’N’Go is always on the outlook for initiatives to better serve their customers.
Earlier in 2020, Cold Stone partnered with Jumia as a means to offer delivery services to her customers.
Unilever Sells New Closeup Variant on Jumia at Lower Prices
By Aduragbemi Omiyale
In its determination to make its latest toothpaste variant, Closeup Triple Fresh Formula, accessible and available to consumers across Nigeria at the best market prices, Unilever has partnered with Jumia Nigeria.
The global fast-moving consumer goods manufacturer explained that it collaborated with Jumia to reach millions of Nigerian customers through an online platform with the widest reach in the country.
Also, with the partnership, Unilever is offering customers free delivery on its laundry, hygiene and seasoning products on Jumia Express which makes delivery within 24-48 hours possible.
“As Nigeria’s leading e-commerce platform, the partnership with Jumia will let Closeup meet its millions of users across the country and give them the opportunity to get the new Closeup Triple Fresh.
“Like the best brand that gives long-lasting freshness, the new Closeup with Triple Fresh cleans deeply, fights up to 90 per cent of bacteria, and cools intensely. It gives superior cleaning, protection and cooling benefits which leaves customers fresh and protected.
“This partnership with Jumia will help drive awareness for Closeup Triple Fresh and increase purchase intent of customers,” the Field Sales Manager Unilever Nigeria, Ibidare Adegunle, said.
Also commenting, the Chief Commercial Officer at Jumia Nigeria, Ms Omolola Oladunjoye, explained that, “This partnership is part of our commitment to ensuring Jumia customers continue to have access to quality products with ease and comfort while keeping safety measures at this time.
“Unilever is a household name in the FMCG sector with a track record of quality products that meet the daily needs of our customers.
“We are partnering with them to deepen consumers’ access to essential products at the best market prices and also enjoy the additional benefits such as free and speedy delivery on our Jumia Express platform.”
Zedvance Visits Loyal Customers for Val
By Dipo Olowookere
Some loyal customers of Zedvance Finance Limited were on Sunday, February 14, 2021, swept off their feet when officials of the leading consumer finance company came knocking on their doors.
The firm, in celebration of love and brand loyalty, made the surprise visits to the customers to share several gifts with them for Valentine’s Day.
Zedvance designed the #WithLoveFromZedvance initiative to “show love to our customers and reward their loyalty for having us as their preferred financial partner,” according to the acting Managing Director of the firm, Mr Ever Obi.
Some of the customers that received the company’s special gifts included Dr Ogunbowale Matthew, Senior Doctor, Ikorodu General Hospital; Dr Aramide Adediran, Senior Doctor, Ikorodu General Hospital; Dr Olanipekun Emmanuel Olushola, Senior Veterinary Doctor, General Hospital, Badagry; Mr Liadi Oladapo Atinshola; and Mr Luqman Adedotun Adebayo, Pathologist at Lagos University Teaching Hospital.
Dr Olanipekun Olushola during the visit commended Zedvance Finance for its efforts in bridging the credit gap in Nigeria.
“Giving is a practical demonstration of love. I am so grateful for this show of love by Zedvance Finance and we all appreciate the company’s efforts towards promoting access to credit in Nigeria,” he said.
On her part, Dr Aramide Adediran also thanked the company for its quick loan disbursement time which has always helped her meet urgent needs whenever she applies for a loan.
“I appreciate the fact that Zedvance has never disappointed me. I will recommend Zedvance to anyone that needs a reliable financial partner,” she revealed.
For Mr Liadi Oladapo Atinshola, he applauded the excellent customer service experience offered by Zedvance Finance describing it as “seamless and impressive,” urging the company to continue its excellent service delivery.
The acting MD of Zedvance, while explaining the rationale behind the campaign, stated that it was mainly to “thank our customers for their commitment to Zedvance Finance.”
He said the company was committed to building and nurturing a relationship with each of its customers by offering tailor-made solutions that will help them meet all their financial needs.
“Ours is a relationship that pays. That’s our mantra and we are committed to ensuring that each and every single one of our customers do not have to worry about any financial needs because we have them covered,” he said.
Zedvance loans are available to both salary-earners and non-salary earners in Nigeria and customers can access Zedvance loans through different digital channels including website www.zedvance.com, Moneypal mobile app (available on Google Play), by chatting Zee on 09060003933 and phone call to the Customer Service Centre on 07001001000.
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