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Agusto’s Vivien Shobo Wins African Banker Icon Award 2020

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Vivien Shobo

By Modupe Gbadeyanka

The former Chief Executive Officer of Nigeria’s foremost credit rating agency, Agusto & Co, Ms Vivien Shobo, has clinched the African Banker Icon Award 2020.

She received the honour at the 2020 African Banker Awards held in Ivory Coast at the just-concluded annual meetings of the African Development Bank (AfDB).

The recognition was for her outstanding work and exemplary career during her tenure at Agusto and helping to transform the debt capital market in Nigeria and beyond; which has facilitated multibillion naira transactions and enabled companies to grow and thrive.

In addition, the Award Committee acknowledged her part in contributing to the development of a world-class organisation that competes effectively with global competition.

According to the African Bankers Awards committee, “The impact of her work is beyond measure and we are proud to have an African Champion that has been able to play such an important role and compete with and out-do global competitors with larger resources.”

Agusto & Co recorded several milestones during Ms Shobo’s tenure, including rating the largest municipal bond programme and single largest tranche issuance, Lagos State government’s N500 billion bond programme and N87.5 billion bond issuance, rating Nigeria’s first 15-year corporate green bond, as well as issued first ratings to the first bond issued by a deposit money bank in Nigeria, the first bond issuance by an insurance company, and rating the first commercial paper issuance under the new guidelines of FMDQ.

She also led the firm’s African expansion initiatives by obtaining Credit Rating Agency licenses from the Capital Market Authorities of Kenya and Rwanda.

Commenting on the award, Ms Shobo remarked that recognition is an honour and source of encouragement to African women leaders in various sectors.

“Winning the African Banker Icon Award 2020 is truly an honour. I am particularly excited that our commitment and contributions to the development of debt capital markets over the years is being recognized and rewarded.

“I urge all women leaders especially those in the financial services to be inspired by this win as this is an award for all of us. I thank my colleagues at Agusto & Co for all their solidarity,” she said.

The African Bankers Award recognises personalities and banks that are driving Africa’s rapidly transforming financial sector and celebrates the achievements of those who are driving growth and development and creating new economic opportunities for citizens and communities all over the continent and inspire new generations of bankers who are shaping Africa’s future.

The African Banker Icon category is awarded to person for their helping transform the financial services sector but who is not necessarily within banking.

Previous winners include Dr Ngozi Okonjo-Iweala, Adebayo Ogunlesi, one of Wall Street’s most eminent financiers, Tidjame Thiam and Eleni Gabre-Madhin, founder of the Ethiopian Commodities Exchange and many African luminaries

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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Olam Agri to Sustain Significant Investments in Workforce, Food Value Chain

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Olam Agri food commodities

By Aduragbemi Omiyale

The managing director of Olam Agri in Nigeria, Mr Anil Nair, has assured us that more investments in the company’s workforce will be made for economic growth.

He gave this assurance while reacting to the recognition of the organisation as a Top Employer for the fifth consecutive time by the Top Employers Institute.

“As we celebrate this recognition, we also look to the future. Olam Agri is committed to scaling our HR practices to ensure alignment with global standards.

“We will continue to make significant investments in our people and the food value chain, enriching lives and driving economic growth.

“Our goal is to create an environment where our employees can excel and thrive, and we are dedicated to achieving this.

“Olam Agri’s continued success as a Top Employer reflects its unwavering dedication to fostering growth, well-being, and excellence in its operations,” he stated.

Also commenting, the firm’s Regional Head of Human Resources, Jaideep Biswas, said, “Our people-centric strategy aligns with the dynamic demands of the global talent landscape, embedding diversity, equity, and inclusion at the core of our operations.

“This certification validates our approach, but we’re not stopping here. We remain committed to helping our workforce thrive in a rapidly evolving work environment.”

In the annual HR Best Practices Survey of the Top Employers Institute, Olam Agri in Nigeria was named the Top Employer because of its exceptional workplace culture, innovative HR strategies, and growing appeal to talent locally and globally.

“Consistency in a not-so-consistent world is remarkable. Amidst technological advances, economic shifts, and evolving social landscapes, it’s inspiring to see organisations like Olam Agri rise to the challenge.

“This year’s certification celebrates those who continue to lead with people-first strategies, setting the standard for enriching the world of work,” the chief executive of Top Employers Institute, Mr David Plink, said.

The institute evaluates organisations based on a comprehensive survey covering six key HR domains and 20 topics: People Strategy, Work Environment, Talent Acquisition, Learning, Diversity, Equity and Inclusion, and Wellbeing.

Since 2020, Olam Agri’s operations in Côte d’Ivoire, Ghana, Nigeria, South Africa, and the Africa region have consistently earned top rankings, solidifying its reputation as an employer of choice.

As a leading agribusiness in food, feed, and fibre, Olam Agri is deeply committed to making a positive impact on its workforce, customers, host communities, and stakeholders.

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Proposed NLC Protest Over Tariff Hike Unnecessary—Subscribers

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End Hunger Protest5

By Adedapo Adesanya

The National Association of Telecommunication Subscribers (NATCOMS) has distanced itself from the planned industrial action by the Nigeria Labour Congress (NLC) against the recently approved telecommunication tariff hike.

According to NATCOMS President, Mr Deolu Ogunbanjo, in a statement on Thursday, the proposed protest was unnecessary, warning that it could send negative signals to investors.

Earlier this week, the Nigerian Communications Commission (NCC) approved a 50 per cent tariff adjustment in response to rising operational costs following over 11 years of discussion.

The move has raised worries and one of the parties which have been vocal about is NATCOMS.

The subscribers’ group and the labour union criticized the move, describing it as excessive and burdensome for Nigerian consumers.

On the part of the union, Mr Joe Ajaero, the NLC President, called on the industry regulator and the National Assembly to halt the 50 per cent implementation, urging Nigerian workers and the public to reject the hike, suggesting a nationwide boycott of telecommunication services as a possible course of action.

“This is for our dignity, our rights, and our survival as a people. The NLC remains resolute in defending the interests of Nigerian workers and the masses.

“We will resist this injustice and demand that the government prioritizes the interests of its citizens over corporate interests,” Mr Ajaero said.

But NATCOMS has advocated legal action and not the proposed protest.

“We do not support the Nigerian Labour Congress’ call for industrial action. No, we don’t! NATCOMS is not in support,” Mr Ogunbanjo stated.

“To investors and businesses, it is a wrong signal. Negotiation is still ongoing, and the tariff hike is scheduled for February. We still have eight days,” he added.

Business Post had reported that NATCOMS is engaging with the NCC to find a resolution and is prepared to approach the courts if consultations fail.

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Five Firms Get N16.3bn for 68km Rural Roads in Oyo

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Rural Roads Development

By Modupe Gbadeyanka

Five construction companies have sealed a deal worth N16.3 billion to construct about 68 kilometres of rural roads under phase 1 of the Oyo State Rural Access and Agricultural Marketing Project (Oyo RAAMP).

The roads, according to the Commissioner for Agriculture and Rural Development, Mr Olasunkanmi Olaleye, cut across five local government areas of the state.

He said the project was expected to have a positive impact on lives of rural communities, farmers, and traders as well as market hubs to reduce post-harvest loss of agricultural products.

The Commissioner urged the firms to execute quality and satisfactory jobs since they emerged from the highly competitive bidding and procurement processes.

Mr Olaleye explained that the phase 1 intervention roads of backlog maintenance/rehabilitation and cross drainage structures would include the Fashola Farm settlement road networks in Oyo West, the Oloko Oyo Junction-Ikere Junction in Iseyin Local Government, the Alako-Idiya-Batake-Olowa Farm settlement in Ido Local Government, the Adebayo-Alata-Aba Oje in Oluyole local government, the Okudi-Oyada road in ATISBO Local Government, and the Tewure-Ila junction road in Oriire local government.

The contractors awarded the road projects are Dephhanny’s Venture Limited, Messrs CGC Nigeria Limited, Messrs Coastline Engineering Limited, Messrs Lopek Engineering and Construction Limited, and Messrs E.A.A Engineering Limited.

Speaking at the signing ceremony, the Permanent Secretary in the Ministry of Agriculture and Rural Development, Mrs Abosede Owoeye, said that the objectives align with the vision of Governor Seyi Makinde to support farmers with the necessary equipment to enhance food security, adding that this was one step closer to achieving its goals of promoting economic growth, improving livelihoods, and enhancing food security.

She, therefore, thanked the federal government, the World Bank, and the French Development Agency for the support.

In her remarks, the Oyo State Project Coordinator for Rural Access and Agricultural Marketing Project, Ms Adeola Ekundayo, urged the contractors to cooperate with stakeholders who will be monitoring their activities.

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