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Promasidor Secures N5.6b BoI Loan for Expansion

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By Modupe Gbadeyanka

Leading food company, Promasidor Nigeria Limited (PNL), has secured a N5.6 billion credit from the Bank of Industry (BoI) to support its aggressive expansion programmes.

PNL Finance Director, Mr Per Kristensen, said the facility would be used for additional machinery, factory expansion and value chain development, which would create jobs for Nigerians and increase the company’s capacity to support the country’s economy.

Disclosing this in Lagos, Mr Kristensen said repayment of the loan was structured over a seven-year tenure, including a 12-month moratorium. He added that the facility was a vote of confidence on the company’s untainted financial integrity, high credit rating and exceptional corporate governance practice.

“The near single digit interest loan is guaranteed by First City Monument Bank Limited. You cannot compare this with any other commercial loans in the country. What this means is that Promasidor has the needed funds to pursue its growth in machinery, backward integration, production plants and create more jobs,” he said.

“The loan comes with comfort because it is denominated in local currency. For the period of seven years, the only risk is the interest rate, which is minimal. We are going to repay in Naira and the process is very transparent. We are excited about the development. It will give us additional opportunity to contribute to the growth of the country’s economy.

“The business is expanding and we need a lot of capital to support that. The injection of the BoI facility gives the management the needed stability and relief to continue to pursue the expansion plans. A lot of expansion activities are ongoing at the factory, and we will continue to see more of that in the next 24 months,” he added.

Head of Legal and Corporate Communications at Promasidor, Mr Andrew Enahoro, said the company and BoI had shared passion and interest in supporting job creation and the economic growth of the country.

He pointed out that, “BoI’s interest is to support business expansion, stimulate jobs and create social values. These are fundamental to BoI’s support for any organisation. Promasidor, on its part, has plans to expand its different plants and develop other exciting products. These will create jobs.

“If we employ additional 500 people as a result of the credit, it is just the beginning of the impact it will create,” he added.

He added that the company would have to look at other multiplier effects of its spending and that of the employees that would come on board on the economy as well as other indirect jobs that would be created.

“Nigeria’s economy will gain. We should not forget that lower interest rate translates to lower cost of production, higher profits and more taxes. Essentially, both Nigerians and the national economy will benefit immensely from this partnership.

“BoI is ready to work with us to grow the economy because it has confidence in our processes and corporate governance culture,” Mr Enahoro further said.

Promasidor, makers of Cowbell Milk, Loya Milk, Top Tea, Onga and other quality products, has engaged in an extensive factory expansion in recent times while increasing its brand portfolio.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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ALTON Supports NCC Call for Made-in-Nigeria Smartphones

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ALTON

By Adedapo Adesanya

The Association of Licensed Telecommunications Operators of Nigeria (ALTON) has backed the call by the Nigerian Communications Commission (NCC) for local smartphone manufacturing to accelerate digital inclusion.

The ALTON Chairman, Mr Gbenga Adebayo, described the proposal as a practical measure capable of accelerating broadband adoption and expanding digital inclusion across the country.

He said Nigeria must deliberately transition from being predominantly a technology consumer to becoming an innovator, designer and manufacturer of digital technologies.

According to him, Nigeria’s large telecommunications market and youthful population provide the scale and human capital needed for world-class technology manufacturing.

The ALTON chairman said the country’s ambition should extend beyond assembling smartphones to developing complete technology capabilities across the value chain.

“Our ambition should extend beyond assembling devices. We must pursue genuine knowledge transfer, research and development, product engineering, software development, semiconductor capabilities and large-scale manufacturing,” he stressed.

He said the objective should be producing devices and digital technologies for Nigeria, Africa and the global market.

Mr Adebayo said the emergence of Artificial Intelligence had further strengthened Nigeria’s opportunity to become a competitive technology manufacturing hub.

He said Artificial Intelligence was transforming product design, manufacturing, quality assurance, supply chain management, customer experience and software innovation.

According to him, investing in AI-enabled manufacturing will improve productivity, create high-value jobs and strengthen Nigeria’s competitiveness across Africa.

NCC’s Board Chairman, Mr Idris Olorunnimben, at a Digital Africa Summit Roundtable in Shanghai, called for local smartphone production and innovative financing to tackle the proliferation of counterfeit and non-type-approved devices through stronger market integrity.

The ALTON boos described the grey market as a major challenge affecting consumers, Original Equipment Manufacturers (OEMs) and the wider telecommunications ecosystem.

According to him, robust local manufacturing supported by strong quality standards will provide credible alternatives to grey-market imports.

He said effective type approval, competitive pricing and consumer confidence would encourage wider acceptance of locally manufactured smartphones.

“This will strengthen consumer protection, improve network performance, retain greater value within our economy, and stimulate industrial growth,” he said.

Mr Adebayo also endorsed innovative smartphone financing, stronger device management systems and identity-enabled credit frameworks.

He added that the initiatives would enable more Nigerians to acquire quality smartphones through affordable payment models.

According to him, telecom operators remain ready to partner with the government, manufacturers, financiers, academia, investors and development partners to build sustainable local manufacturing.

The ALTON boss described the initiative as a national economic transformation agenda capable of creating jobs and strengthening Nigeria’s position in the global digital economy.

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PRovoke Media Crowns Woodrow Africa Agency of the Year

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Woodrow communications PR agency

By Adedapo Adesanya

Woodrow has been named Africa Agency of the Year 2026 by PRovoke Media, one of the world’s leading authorities on the communications industry.

The award recognises Woodrow’s rapid growth across the continent and its work supporting clients navigating some of Africa’s most complex communication, policy, reputation and stakeholder challenges.

In announcing the award, PRovoke Media described Woodrow as “a different kind of communications firm for Africa. Built locally, but operating across borders, with a focus on high-stakes, high-complexity mandates that reflect the realities of the continent’s political and economic landscape.”

Founded five years ago by Mr Charlie Tarr, who has spent more than two decades working across African markets advising various organisations, Woodrow has grown from its Nairobi headquarters into a multi-market African consultancy. It now has teams and partners across Kenya, Nigeria, Ghana, Zambia, Senegal and South Africa, delivering work across 13 countries.

Since 2024, Woodrow has more than doubled revenue, expanded delivery across more African markets and supported assignments that have generated global audiences exceeding 70 million people in multiple markets.

Speaking on the recognition, Mr Charlie Tarr, Founder and CEO of Woodrow Communications, said, “When we started Woodrow, we believed Africa deserved communications advice built for Africa’s realities, not imported templates. This recognition is a testament to our people, our clients and our belief that world-class strategic communications can be built from the continent and compete with the very best anywhere in the world. This feels more like a beginning than an arrival.”

Adding his input, Mr David Karega, Head of East and Southern Africa, added, “This award belongs to the team and the clients who have trusted us with some of their most important moments. From major launches and investment announcements to reputation management, policy engagement and crisis situations, we have had the privilege of helping them achieve influence. It shows that globally recognised PR excellence can be built from Nairobi and delivered across Africa.”

Woodrow’s growth has been driven by its local-first operating model, combining deep in-market expertise with regional coordination and strategic advisory support. It supports organisations such as AGRA, Bupa Global, BIC and a range of international foundations, investors and development institutions working across Africa.

Looking ahead, Woodrow is investing in new capabilities around digital influence, audience intelligence and integrated stakeholder engagement to help clients navigate the media landscape in Africa.

“Africa has never been a side conversation for us,” Mr Tarr added, “It sits at the centre of our work and future. The continent is producing some of the world’s most important opportunities in technology, investment, food systems, climate and economic transformation. We are excited to continue helping clients shape those conversations, build influence and contribute to Africa’s growth.”

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SportyTV Joins DStv and GOtv Line-Up Across Africa

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SportyTV DStv and GOtv packages

SportyTV has been added to select DStv and GOtv packages in Nigeria, expanding the sports content available to subscribers. The 24-hour sports channel offers a range of live sporting events alongside news, analyses, highlights and is available to DStv Yanga and GOtv Jolli customers. The channel is also available on GOtv in Kenya and Ghana.

The addition of SportyTV complements the existing sports offering on DStv and GOtv, providing subscribers with access to additional football, basketball and combat sports content.

“SportyTV is a valuable addition to the DStv Access and GOtv Value content offering across Africa,” said David Mignot, CEO of CANAL+ Africa. “It expands the range of sporting events available to customers at an accessible price point and reflects our commitment to making quality sports content available to audiences across the continent.”

Sudeep Ramnani, Founder and CEO of Sporty Group, said: “Our ambition has always been to provide African audiences with broad access to sports content and storytelling. Through this partnership with CANAL+, we are extending that offering to more households across the continent.”

“The SportyTV channel gives DStv and GOtv subscribers additional viewing options that complement SuperSport’s existing range of sports programming,” said Rendani Ramovha, Director of Sport Content for English and Portuguese-speaking Africa at CANAL+. “It broadens the overall sports proposition with additional live events and supporting content.”

SportyTV’s football schedule includes competitions such as the English Premier League, Carabao Cup, EFL Championship, Women’s FA Cup, La Liga, Bundesliga, Serie A and the Spanish Super Cup. The channel also carries South American competitions including the Copa Libertadores, Argentina League and Brazil Serie A, as well as select basketball and other international sports content.

Elias Gallego, Vice President of Business Development, Marketing and Media at Sporty Group, said: “Launching SportyTV on DStv and GOtv allows us to extend our reach and bring a broader range of sports content to viewers across Africa.”

SportyTV will also carry dedicated club channels including Real Madrid TV, Arsenal TV, Chelsea TV and Manchester City TV. Additional content includes coverage from leagues in Greece and Saudi Arabia, alongside basketball programming featuring the NBA.

The channel launched on 10 June 2026 and is available in HD on DStv channel 236 and GOtv channel 58 in Nigeria.

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