Economy
Summit to Showcase Future-Proof Business Strategy
By Modupe Gbadeyanka
The first Africa Shared Value Summit will raise awareness and advocate for the strategic implementation of the Shared Value business model, which brings about social change while positively impacting profit.
Companies who create Shared Value do so through the normal operation of their businesses; it is not an (often short-term) add-on limited by budget, but rather a future-proof business strategy for long-term gain.
There are corporates that are currently taking the lead in changing the face of capitalist business practice, but it is the social innovators who are really embracing the practice and reaping the rewards – financially and societally.
The Summit’s keynote speaker will be Marc Pfitzer, Managing Director of FSG, one of the world’s leading consultancies focusing on social change strategy and creating business models and strategies that lead to social impact. Speaking on the growth of Shared Value, Marc is optimistic that business is starting to catch on: “If you look at the spread of the concept, and you look at the continued emergence of new companies who say ‘we’ve got a built-in purpose in our strategy’, it’s not just a communication-based tagline, it’s really about making different choices in our strategy. We keep on getting new companies coming into the fold, so the underlining movement is happening and is spreading all over the world.”
Marc’s expertise spans numerous subjects, including Shared Value, collective impact, agricultural development, impact measurement, and the mechanics of collaboration. His influential articles “Innovating for Shared Value” and “The Ecosystem of Shared Value” were published in the Harvard Business Review in 2013 and 2016 respectively. Prior to FSG, Marc served as Principal at The Boston Consulting Group (BCG) based in Zürich.
Chief Marketing Officer of Nando’s, one of the Summit’s sponsors, Doug Place has received more than 30 international and national marketing and advertising awards, including The Media “Top 40 Under 40” in 2014, and was recognised as one of Destiny Man Magazine’s 2015 ‘Young and Powerful’ industry leaders. Through the implementation of Shared Value principles, Nando’s has achieved major successes in the development and recognition of African artists and the fight against malaria.
Another speaker highlight is Barry Swartzberg, Group Executive Director Responsible for International Strategy at Discovery. Discovery Health’s pioneering approach to incentivising people to be healthier is world-renowned. The impact of the adoption of a Shared Value strategy underpins the organisation’s global success and new business growth. Other high-profile speakers include Sanda Ojiambo, Head of Corporate Responsibility at Safaricom, who will share her experience in multi-sectoral policy and development work throughout Sub-Saharan Africa, and Maria Papetti, Head of Enel Holdings, who will speak on sustainability, renewable energy growth and social equality.
The Summit will also feature Shared Value trailblazers like Dr Sara Saeed, winner of the UNICEF Global Goal Campaigner Award 2016, who will share insights into the doctHERS project in Pakistan.
Other participants include: Michelle Constant (CEO, BASA); Gordon Cook (Activist, Stir4Change); Zaakira Mahomed (Founder, Happy with a Purpose and Mina Cup), David Blyth (CEO, Yellowwood); Claire Reed (CIO, Reel Gardening); Genevieve Leveille (Co-Founder, 0TenTic8); Cecilia Kinuthia-Njenga (UNEP Head, South Africa); and Thomas van Viegen (EY Associate Director: Climate Change and Sustainability Services).
Embracing CSV is the key to long-term sustainability, enabling businesses to survive and thrive in a changing business climate. Shift Social Development, the team of women behind the Summit headed by Tiekie Barnard, aims to create an annual platform where Shared Value practitioners can share their stories and influence businesses and brands in the creation of Shared Value, thus embodying the Shift Social Development mantra of profit with purpose.
By Adedapo Adesanya
Food Concepts Plc neutralized the gains recorded by three securities, returning the NASD Over-the-Counter (OTC) Securities Exchange into the negative territory with a 0.27 per cent loss on Thursday, December 4.
Yesterday, the share price of the parent company of Chicken Republic and PieXpress declined by 34 Kobo to sell at N3.15 per unit compared with the previous day’s N3.49 per unit.
This shrank the market capitalisation of the OTC bourse by N5.72 billion to N2.136 billion from N2.142 trillion and weakened the NASD Unlisted Security Index (NSI) by 9.57 points to 3,571.53 points from 3,581.10 points.
Business Post reports that Central Securities Clearing System (CSCS) Plc went down by 50 Kobo to N38.50 per share from N38.00 per share, FrieslandCampina Wamco Nigeria Plc gained 29 Kobo to sell at N55.79 per unit versus N55.50 per unit, and Geo-Fluids Plc added 5 Kobo to close at N4.60 per share compared with Wednesday’s closing price of N4.55 per share.
Trading data indicated that the volume of securities recorded at the session surged by 6,885.3 per cent to 4.3 million units from the 61,570 units posted a day earlier, the value of securities increased by 10,301.7 per cent to N947.2 million from N3.3 million, and the number of deals went up by 146.7 per cent to 37 deals from the 15 deals achieved in the previous trading session.
At the close of business, Infrastructure Credit Guarantee Company (InfraCredit) Plc was the most traded stock by value on a year-to-date basis with the sale of 5.8 billion units for N16.4 billion, trailed by Okitipupa Plc with 170.4 million units worth N8.0 billion, and Air Liquide Plc with 507.5 million units valued at N4.2 billion.
InfraCredit Plc also finished the session as the most traded stock by volume on a year-to-date basis with 5.8 billion units transacted for N16.4 billion, followed by Industrial and General Insurance (IGI) Plc with 1.2 billion units sold for N420.2 million, and Impresit Bakolori Plc with 536.9 million units traded for N524.9 million.
By Dipo Olowookere
The upward trend witnessed at the Nigerian Exchange (NGX) Limited in recent sessions continued on Thursday as it further improved by 0.10 per cent.
This was despite investor sentiment turning bearish after the local equity market ended with 23 price gainers and 28 price gainers, indicating a negative market breadth index.
UAC Nigeria gained 10.00 per cent to finish at N88.00, Morison Industries appreciated by 9.94 per cent to N3.54, Ecobank rose by 8.53 per cent to N36.90, and Coronation Insurance grew by 8.47 per cent to N2.56.
On the flip side, Ellah Lakes depreciated by 10.00 per cent to N13.14, Eunisell Nigeria also shed 10.00 per cent to finish at N72.90, Transcorp Hotels slipped by 9.95 per cent to N157.50, Omatek shrank by 9.23 per cent to N1.18, and Guinea Insurance dipped by 8.46 per cent to N1.19.
Yesterday, the All-Share Index (ASI) went up by 152.28 points to 145,476.15 points from 145,323.87 points and the market capitalisation chalked up N97 billion to finish at N92.726 trillion compared with the previous day’s N92.629 trillion.
Customs Street was bubbling with activities on Thursday, though the trading volume and value slightly went down, according to data.
A total of 1.9 billion stocks worth N19.2 billion exchanged hands in 23,369 deals during the session versus the N2.3 billion valued at N21.0 billion traded in 21,513 deals a day earlier.
This showed that the number of deals increased by 8.63 per cent, the volume of transactions depleted by 17.39 per cent, and the value of trades decreased by 8.57 per cent.
For another trading day, eTranzact led the activity chart with 1.6 billion units sold for N6.4 billion, Fidelity Bank traded 31.0 million units worth N589.3 million, GTCO exchanged 28.3 million units valued at N2.5 billion, Zenith Bank transacted 27.1 million units for N1.6 billion, and Ecobank traded 21.9 million units worth N744.3 million.
By Adedapo Adesanya
The Naira marginally depreciated against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Thursday, December 4 amid renewed forex pressure associated with December.
At the official market yesterday, the Nigerian currency lost 0.01 per cent or 18 Kobo against the Dollar to close at N1,447.83/$1 compared with the previous day’s N1,447.65/$1.
It was not a different scenario with the local currency in the same market segment against the Pound Sterling as it further shed N15.43 to sell for N1,930.97/£1 versus Wednesday’s closing price of N1,925.08/£1 and declined against the Euro by 20 Kobo to finish at N1,688.74/€1 compared with the preceding session’s N1,688.54/€1.
Similarly, the Nigerian Naira lost N5 against the greenback in the black market to quote at N1,465/$1 compared with the previous day’s value of N1,460/$1 but closed flat against the Dollar at the GTBank FX counter at N1,453/$1.
Fluctuations in trading range is expected to continue during the festive season as traders expect the Nigerian currency to be stable, supported by intervention s by to the Central Bank of Nigeria (CBN)in the face of steady dollar demand.
Support is also expected in coming weeks as seasonal activities, particularly the stylised “Detty December” festivities, will see inflows that will give the Naira a boost after it depreciated mildly last month, according to a new report.
“As the festive Detty December season intensifies, inbound travel, tourism spending, and diaspora inflows are expected to provide moderate support for FX liquidity,” analysts at the research unit of FMDA said in its latest monthly report for November.
Traders cited by Reuters expect that the Naira will trade within a band of N1,443-N1,450 next week, buoyed by improved FX interventions by the apex bank.
Meanwhile, the crypto market was down as the US Federal Reserve’s preferred inflation gauge, core PCE, likely rose in September—moving in the wrong direction. However, volatility indices show no signs of major turbulence.
If the actual figure matches estimates, it would mark 55 straight months of inflation above the US central bank’s 2 per cent target. The sticky inflation would strengthen the hawkish policymakers, who are in favour of slower rate cuts.
Ripple (XRP) depreciated by 4.5 per cent to $2.08, Solana (SOL) went down by 3.8 per cent to $138.11, Litecoin (LTC) shrank by 3.1 per cent to $83.23, Dogecoin (DOGE) slid by 2.5 per cent to $0.1463, Cardano (ADA) declined by 2.1 per cent to $0.4368, Bitcoin (BTC) fell by 0.9 per cent to $91,975.45, Binance Coin (BNB) crumbled by 0.9 per cent to $899.41, and Ethereum (ETH) dropped by 0.7 per cent to $3,156.44, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 apiece.
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