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Stanbic IBTC Packs 5 Awards at 2019 FMDQ Gold Awards

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Stanbic IBTC 2019 FMDQ Gold Awards

Not less than five awards were carted away over the weekend at the 2019 edition of the FMDQ Gold Awards by Stanbic IBTC Holdings PLC, a member of the Standard Bank Group.

At the event, which took place at the Oriental Hotel, Lagos, the spotlight was on the lender when it was being called to pick awards for different categories in the presence of dignitaries like Governor Babajide Sanwo-Olu of Lagos State, Ms Mary Uduk, who is the Acting Director-General of the Securities and Exchange Commission (SEC), amongst several others.

Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC, emerged the overall winner in the Secondary Market category, winning the ‘FMDQ Dealing Member of the Year’ award, for the second year running. The company also won the award for ‘FMDQ FX Market Liquidity Provider’ of the year.

Stanbic IBTC Capital Limited, another subsidiary of Stanbic IBTC Holdings, won the ‘FMDQ Capital Markets Securities Origination’ award, thereby emerging the overall winner of the Primary Market category. The company also won the ‘FMDQ Registration Member (Quotations) Award’.

Stanbic IBTC Pension Managers Limited won the ‘Most Active Buy-side Participant in the Fixed Income Market” award.

Chief Executive of Stanbic IBTC Capital, Mr Funso Akere, said the awards would further spur the company to continue providing excellent services across the financial services spectrum.

“The five awards we have won will have a positive impact on our operations. This means raising the bar in terms of service delivery. It is a challenge to continually create innovative solutions for our clients. As long as we keep delivering innovative solutions to our clients, they will continue to engage us and we will continue to do transactions,” he said.

He further expressed his appreciation to the clients of Stanbic IBTC, stressing that it was because of them that the company was winning awards, also commending the effort of employees of Stanbic IBTC for putting their heart and soul in service delivery to the company’s clients.

Head of Global Markets, Nigeria at Stanbic IBTC Bank PLC, Mr Samuel Ocheho, described the awards as a testament to the culture of hard work at Stanbic IBTC.

He said, “This signifies that we are a top player in the foreign exchange market and in the secondary market for all money market products. It is a testimony to the hard work that we have been engaged in as an institution.”

The FMDQ Gold Awards, held annually, recognizes stakeholders whose participation in the fixed income, foreign exchange and derivatives markets, have supported and fostered growth and development of these markets as well as the Nigerian economy. The inaugural edition was held in 2018.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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NIPR Lagos to Hold 9th Stakeholders Conference August 18

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NIPR

By Adedapo Adesanya

The Lagos State Chapter, the premier branch of the Nigerian Institute of Public Relations (NIPR) in collaboration with Addefort Limited is set to host the ninth Lagos Public Relations Stakeholders’ Conference.

In a disclosure on Thursday, the chapter said that the conference will address Leadership and Poverty Eradication at the MUSON Centre, Lagos on Thursday, August 18, 2022.

The Lagos Public Relations Stakeholders Conference is a bridge-building initiative to interact and proffer solutions to the social, political and economic challenges plaguing our nation.

This edition themed Conversations on Leadership and Poverty Eradication is expected to feature distinguished speakers including; the Governor of Lagos State, Babajide Sanwo-Olu; Mr Tony Elumelu, founder and Chairman, Heirs Holdings; and  Mr Umar Garba Danbatta, Executive Vice Chairman/ CEO, Nigerian Communications Commission (NCC).

Others are Mr Segun Ajayi-Kadir, DG Manufacturers Association of Nigeria (MAN); Mr Kayode Pitan, Managing Director, Bank of Industry (BoI); Mrs Tejumola Abisoye, Executive Secretary, Lagos State Employment Trust Fund (LSETF); Mrs Cecilia Bolaji Dada, Commissioner of Women Affairs and Poverty Alleviation, Lagos State and Dr Oluseye Ajuwon, Economist and Consultant, University of Lagos.

Speaking on the conference, the Chairman, Lagos NIPR, Mrs Comfort Obot Nwankwo, explained that the theme for this year’s edition is timely, adding that the Institute is committed to setting agenda for stakeholders’ engagement and lead the discuss to reawaken national consciousness.

She noted that eradicating poverty in all its forms remains one of the greatest challenges facing humanity; Nigeria is not an exemption, despite the efforts of government in the country, too many are still struggling for the most basic human needs.

On the part of Mr Olabamiji Adeleye, Conference Coordinator & Lead Consultant, Addefort Limited, participants at the conference will include; representatives from government, Public Relations practitioners, economic experts, the United Nations, embassies, corporate organisations, institutions, NGOs, HODs of relevant agencies, and the media among other stakeholders.

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How to Choose an Ideal Price for Your Product

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price for your product

By Emmanuel Otori

The price of a product determines what customer segment would make demands for them and determines its classification as a luxury good or one for the middle class. There are many factors used in determining the price of a product or service and they can determine your market share.

  1. The Price of Your Competition

Your competition comprises those who have been in the market and established a name, a growing brand, and a network, they could be a startup like you and already have a differentiating factor to make customers rethink should they consider switching to a different product.

You should consider your price range falling into what is affordable for both the existing and new products, therefore, making room for flexibility to accommodate the needed change when it arises. This shouldn’t mean copying what the competition is doing, but watching the changes made by them can give a signal of not just holding the market share but also establishing new connections.

  1. Your Suppliers or Service Providers

The supply chain is a key factor in the delivery of a superb product or service. Some organizations have created synergy with suppliers that make raw materials available all year round and at a stable price, and this helps with consistency, however, this would not always be the case as the price could change, transportation costs could increase or loss due to theft. A selection of suppliers with quality service, integrity and proximity to raw materials is the best bet that can make the product or service delivered at a reasonable price.

  1. Packaging of Your Product

Most products are branded with materials that make the exterior attractive to the customer and take a percentage of what the selling price would be. The acceptance of the “going green” form of packaging that considers reduction in the use of polyethene is gaining recognition, if affordability for your company is fair, and then adopting a material that doesn’t pose environmental hazards, is cheap and easily disposable would make a good price for your product.

  1. Energy needs

Most businesses depend on the power grid for their energy needs and this is a recurring expense that needs to be put into the budget to avoid interruptions in power supply which would affect the day-to-day operations of your business. To complement your primary source of energy, it is of valuable consideration to put in place alternative sources of energy. In determining the overall cost used in producing your goods, the power supply is pivotal.

  1. Cost of Goods

The cost incurred in making a product is referred to as the “cost of goods”, which involves the expense of procuring raw materials, the wage of the labour force, processing, packaging and energy needs. This cost excludes transportation and distribution. Profit on any product or service can only be determined with accuracy when the COGS (Cost of Goods Sold) is known and leading to the possibility of making a sales forecast to know how many units of goods were produced and if all were sold, how much would be recorded as revenue.

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7th African Brands Congress to Attract Critical Stakeholders

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African Brands Congress

By Aduragbemi Omiyale

Some critical stakeholders in the branding industry will converge on Lagos Sheraton Hotels & Towers, Ikeja, Lagos on Friday, August 12, 2022, for the 7th edition of the African Brands Congress.

According to the organisers led by its convener, Mr Desmond Esorougwe, the theme for this year is Digital Technology AI & IOT: A Catalyst for Brands Growth.

The event is an annual fiesta of the best brains behind the most successful and sought-after African brands. It is meant to stimulate, motivate and excite the creativity in individuals as it is designed to educate, engage and inspire Brands Managers and professionals in the pursuit of best practices in brand building and value creation.

It is an appropriate platform used by stakeholders to discuss how brands in Africa can increase their global competitiveness. It is also used to enhance professional development skills in the area that are most relevant to the business community today.

The congress will provide hands-on skill-building experience for brands and the brand management community.

The focus of this one-day occasion will be to support establishments in the journey of excellence in brand building and discuss and influence the issues of sharing the African brands’ future. The platform will provide an ideal opportunity for interactions among leading companies and keynote interactive discussions.

The programme is packaged by African Brands Media Ltd, a leading brands magazine providing opinions, research and news for all brand owners and industry players.

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