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Zedvance Offers Zero-Interest Loans to Small Business Owners

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Zedvance loans

By Dipo Olowookere

Small business owners in the country have been given a rare opportunity to obtain interest-free credit facility to catalyse their growth against the backdrop of the global economic downturn occasioned by the COVID-19 pandemic.

This offering is from leading consumer and SME finance company, Zedvance Finance Limited, and it is to empower small and medium-sized enterprises (SMEs).

“We understand the critical role loans play in helping SMEs looking to take their businesses to the forefront of the market.

“More importantly, we know that interest-free loans will allow them accelerate growth by reducing the burden of loan interest payment,” the acting CEO of Zedvance Finance, Mr Ever Obi, was quoted as saying in an e-mailed statement to Business Post on Tuesday.

“Essentially, we are creating a support system for SMEs. Majority of our youth are budding entrepreneurs.

“While we provide ‘safe’ capital for them, we believe that some level of guidance on corporate and product strategy will also be invaluable,” he added.

It was also stated that driven by a need to create a support system for SMEs at this uncertain time, the company will be running a 3-week virtual campaign themed Keeping SMEs Alive and the first edition will hold from August 18 – 31, 2020.

Mr Obi explained during the campaign, “We will be having five top entrepreneurs that will be speaking on different topics on entrepreneurship via our social media platform.”

He explained that the aim of the initiative is to help SMEs stay afloat at this crucial time and to promote economic enterprise in line with the company’s Corporate Social Responsibility (CSR) pillars.

Speaking on how to pitch for the zero-interest loan, the Head of Product Marketing & Brand Communications, Mr Lukmon Oloyede, said “all entrepreneurs can send their ‘pitch’ via Zedvance’s Social Media platforms – @zedvance on Facebook, Instagram, Twitter and LinkedIn or email [email protected].

“Participants are to invite their friends and family to like your pitch, follow Zedvance social media platforms and state why they deserve a zero-interest loan for your business.”

The Zedvance Finance Limited loans are accessible through a range of self-service digital channels including website – www.zedvance.com, mobile app – MoneyPal (available on Google Playstore) and phone call to the Customer Service Centre on 07001001000. Customers can access loans between N2,500 and N5 million in minutes depending on their credit score.

For the lectures through Zedvance’s Instagram Live Chat, the co-founder of Awabah Nigeria, Mr Mr Tunji Andrews, will be speaking on Strategies for SME Fund Raising in a Pandemic Era; the co-founder and CEO of Publiseer, Mr Chidi Nwaogu, will shed light on How to Avoid Common Startup Pitfalls, while the founder of cmDesign Atelier, Ms Tosin Oshinowo, will also lead the conversation on Building a Globally Competitive Creative Enterprise.

The topic on Securing Funding for SMEs in a Post Pandemic Era will have the input of Lanre Messan, the CEO of FirstFounders, while the founder of Margaritas Farm, Ms Margarita Adokuru, will speak on Building Global Competitive Agric-Business in Nigeria.

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 [email protected]

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AliExpress Accepts Verve Cards for Payment From Nigerian Shoppers

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By Modupe Gbadeyanka

Nigerian shoppers who use one of the world’s largest online retail platforms, AliExpress, can now pay for the items with their Verve cards, Business Post has learned.

This has been made possible because of a partnership between the e-commerce platform and the leading domestic payments card scheme and token brand, Verve International.

It was gathered that the collaboration empowers Verve cardholders, both locally and internationally, to engage in cross-border transactions.

It also reinforces Verve’s unwavering commitment to delivering inclusive, innovative, and secure digital payment solutions that empower individuals and businesses alike, while bridging the gap in global digital commerce.

With AliExpress joining this network and Verve integrated into its payment options, Verve cardholders can easily shop and pay for a wide range of products.

To shop on AliExpress using a Verve card, users need to simply sign in, select the items to buy, and click ‘Buy now.’ When prompted, add a new card and enter the Verve card details. Save the information for future use, confirm the details, and complete the payment seamlessly.

“We are excited to announce that Verve is now accepted on AliExpress, a globally recognised e-commerce leader.

“This marks a significant milestone in our global expansion journey, reflecting our commitment to providing cardholders with access to more possibilities in today’s digital economy.

“The addition of AliExpress to our growing network is just the beginning, there’s much more to come as we continue to innovate, expand, and deliver value to millions of Verve cardholders in Nigeria and beyond,” the Managing Director of Verve International, Mr Vincent Ogbunude, said.

Verve’s expanding global network is bolstered by partnerships with renowned brands such as Google, YouTube, Netflix, Amazon Prime, Facebook, Uber, Spotify, among others, enabling cardholders to conveniently pay for subscriptions in Naira.

These alliances solidify Verve’s position as a trusted leader in the digital payments space, ensuring that consumers can access top-notch services across diverse industries.

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FCCPC Raises Alarm Over Low-Quality Brazilian Sugar in Nigerian Markets

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Importation of Refined Sugar

By Adedapo Adesanya

The Federal Competition and Consumer Protection Commission (FCCPC) has raised alarm about low-quality sugar from Brazil in the Nigerian markets.

In a statement signed by the Director of Corporate Affairs, Mr Ondaje Ijagwu, the consumer protection agency said it uncovered the availability of substandard and unregistered sugar products in Nigerian markets, particularly smuggled brands from Brazil, including Grupo Moreno, Terous, USI S. Joao, Alvean and Arapora Bionergia.

The products failed to meet mandatory Vitamin A fortification requirements, posing serious health risks to consumers, undermining the integrity of the local sugar industry, and contributing to price manipulation that harms the market.

Acting on a tip-off, FCCPC operatives conducted discreet investigations across the country, particularly in the South-West and the North-East.

The investigations revealed that many of the identified sugar products lacked normal labelling, including production and expiry dates, batch numbers, and the mandatory National Agency for Food and Drug Administration and Control (NAFDAC) registration.

“Even more concerning, most of the products were not fortified with Vitamin A, a critical nutrient essential for good vision, immune health, and overall well-being.

“The absence of this fortification exposes Nigerian consumers to serious health risks, including blindness and increased susceptibility to infections, particularly among vulnerable groups such as children and pregnant women,” the statement added.

The FCCPC also lamented concerns about the economic impact of these products, noting that the influx of smuggled sugar undermines fair competition, placing undue pressure on compliant local producers who adhere to regulatory standards.

The body warned that importers of these substandard products engage in price manipulation to the detriment of genuine producers and consumers while pretending that the products are genuine.

“This jeopardises the sustainability of the Nigerian sugar industry and also erodes consumer trust in the market,” the statement added.

The FCCPC also warned that smuggling, facilitated through porous borders, particularly from neighbouring countries such as Cameroun and the Benin Republic, further complicates enforcement efforts and hampers traceability.

FCCPC also reassured the general public that it is taking decisive steps to address this issue consistent with the provisions of the Federal Competition and Consumer Protection Act (FCCPA) 2018.

“The Commission charged Nigerian consumers to verify the authenticity of sugar products by ascertaining they carry proper labelling, including NAFDAC registration and evidence of Vitamin A fortification.

“The FCCPC is intensifying enforcement and surveillance in collaboration with NAFDAC, the Nigeria Customs Service, and other relevant agencies. These efforts include enhanced surveillance and follow-up market inspections to disrupt the supply chain of smuggled sugar products.

“The FCCPC is also engaging with industry stakeholders to promote compliance with quality standards, protect local producers, and foster fair competition within the sugar market,” it added.

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GOtv Extends Golden Window to Customers for Festive Season

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GOtv Golden Window

MultiChoice Nigeria, the leading pay-TV service provider, has announced the extension of the Supa Plus Golden Window for the festive season.

Customers can continue to enjoy the GOtv Supa+ package at the discounted price of N13,900 instead of the regular N15,700.

The Executive Head of Marketing for West Africa at MultiChoice, Tope Oshunkeye, stated that the extension of the Golden Window is in line with making entertainment accessible to every home during the festive season.

“By extending the Golden Window, we’re allowing our valued customers to enjoy premium entertainment at a discounted price and create an immersive and delightful experience for families to enjoy together while creating memorable moments”. It’s part of our bigger goal this festive season; to make it a good season for everybody.

In addition to the extension of the Golden Window, GOtv also has an exciting lineup of shows on Africa Magic Showcase to keep viewers entertained throughout the festive season.

Running throughout the festive season, to January 11th, the lineup features captivating titles such as The Jump and 10th Anniversary two new Africa Magic original movies.

The schedule for this season promises something for everyone to enjoy, with the launch of the Holiday channel and the exclusive Bovi Comedy Special – Christmas with Bovi, from December 24th to 26th. Rounding up the entertainment is a feast of football this season.

The Golden Window is open to all GOtv subscribers. To enjoy the offer, customers can reconnect or upgrade using the MyGOtv App or the USSD code (*288#). Customers can also download the GOtv Stream app to watch their favourite shows on the go.
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