By Adedapo Adesanya
PennyTree, a gamified digital lifestyle platform, has launched an Exclusive Associate Program for young people to help tackle the issues of unemployment and unemployability in Nigeria.
According to the company, Chairman of the Presidential Economic Advisory Council and recently appointed Chief Economic Adviser to the President (CEAP), Mr Doyin Salami, had projected Nigeria’s unemployment rate to hit 40 per cent by the end of 2021.
However, using this experimental financial inclusion and behavioural learning programme, it will help participants to increase their chances at employment as well as help impact the needed qualities and skills.
The course is aimed at reaching at least 100 young Nigerians that are passionate; offering them reward for smart work, cultivating interpersonal and finance management skills and employment opportunities.
Participants of the programme will be known as Penn Exclusive Associates.
It is set up with layers and tools which reinforces the values of hard and smart work with proper reward, enables them to become financially disciplined (especially with savings), gets monthly bonuses and remuneration which ensure earning between N68,000 and N204,000 in 30 days, build their network and look great on their resume.
According to Mr Ayo Ogunlowo, PennyTree’s co-founder, “PennyTree’s Exclusive Associate Program is designed to encourage and reward smart work among young people, networking, effective communication skills and creativity as long as they have a smartphone and BVN.”
Launched in December 2021, PennyTree has experienced exponential growth and market acceptance, offering products and services such as utility bill payment, a wallet system that enables free transfer in record time, target savings that allow users to save frequently to meet a goal without charges, personal vault for locking away funds for a set period of time and earning reasonable interest and of course, Penn Rules which is expected to help users experience the possibilities of lifestyle and finance being mutually inclusive.
Speaking on the initiative, PennyTree’s Brand, Marketing and Corporate Communications Manager, Ms Elsie Godwin said “PennyTree is not just concerned about helping Nigerian youths’ savings culture and making it seamless but to provide young people with skills through additional education and training, which ensures that they have a better shot at earning a good income in the global village.”
Partnering with Thought Leaders, Life and Career Development Coaches, PennyTree Exclusive Associate programme is designed to help participants upskill while earning an income.
Any Nigerian living in Nigeria between the ages of 18 and 35 is eligible to apply. The program is open to everyone within this age bracket, regardless of their field of specialization. Participants must have a BVN, own a smartphone and be active on at least 4 of the top social media platforms in Nigeria.
The Exclusive PennyTree Associate program has an iterative cycle of 30 Days and is now open for the first cycle and application is available via mypennytree.com/program and the program commences on Monday, January 10 and will close on January 14, 2022.
Hann Succeeds Chimphondah as Shelter Afrique CEO
By Aduragbemi Omiyale
Shelter Afrique has announced the appointment of Mr Thierno-Habib Hann as its new chief executive officer, replacing Mr Andrew Chimphondah, who left the company early this year.
A statement from the Nairobi-based pan African housing development financier disclosed that Mr Hann brings to the company over 20 years of experience in housing finance, capital markets and structured finance.
According to the chairman of Shelter Afrique, Mr Ephraim Bichetero, the selection of the new CEO was very competitive, based on merit and competence.
He is expected to strengthen governance, be an embodiment of the values of the organisation and drive the investment strategy of the firm focused on delivering large-scale affordable housing.
“Mr Hann has extensive international experience in housing finance, capital markets and structured finance, set-up and management of investment funds with banking and multilateral institutions, spanning over 20 years.
“He brings with him a wealth of leadership experience in development and investment, sharp insight in the real estate landscape and a strong track record of delivery. Over the years, he has developed housing finance transactions in the US, Latin America and Eastern Europe, valued over $32 billion,” Mr Bichetero said.
Business Post gathered that Mr Hann will not resume office at the moment because he currently serves as the Asia/Pacific Lead for housing finance at the International Finance Corporation (IFC) based in Bangkok, where he leads the strategy development and implementation of the housing finance program with a portfolio of over $2 billion.
He will join the organization at the end of his current contract with IFC and in the interim, Mr Muwowo will continue to serve as Acting Managing Director.
Mr Hann, a native of Guinea, began his career at the consulting firm Arthur Andersen, LLC as a Senior Consultant in Financial Services and Capital Markets in New York City.
He has worked at JPMorgan Chase and Goldman Sachs as Manager and Vice President respectively and led investment teams issuing mortgage-backed securities (RMBS/CMO), and credit derivatives (CDS) in these organizations.
He also served at the World Bank Group as the Private Sector Development Program Manager in Guinea, responsible for designing and implementing the business climate improvement program, while developing a bankable pipeline of investments and government advisory projects in strategic sectors of the economy.
Electricity Workers Threatens Strike from Today
By Adedapo Adesanya
Organised labour has directed workers in the power sector to down tools and commence an indefinite strike from Wednesday, August 17 over pending labour issues with the Transmission Company of Nigeria (TCN).
The National Union of Electricity Employees (NUEE) on Tuesday demonstrated at the headquarters of the TCN in Abuja.
They complained about the alleged failure of the federal government to pay the entitlement of former staff of the defunct Power Holding Company of Nigeria (PHCN) in December 2019.
The aggrieved workers under the aegis of the National Union of Electricity Employees (NUEE) said this is a prelude to an indefinite strike action expected to commence today.
In a circular entitled “call to action”, the General Secretary of NUEE, Mr Joe Ajaero, directed them to ensure total compliance, vowing to paralyse operations of TCN nationwide over what they consider “anti-masses activities.”
This means the nation’s electricity supply crisis could worsen from Wednesday following this decision if an impasse is not reached.
“You are hereby enjoined to mobilise immediately for a serious picketing of TCN Headquarters and stations nationwide over the directive by the TCN Board that all PMs in acting capacity going to AGM must appear for a promotion interview,” the circular read.
“This directive is in contravention of our conditions of service and career progression paths, and unilaterally done without the relevant stakeholders.
‘’This action takes effect from Tuesday 16th August 2022 and total withdrawal of services commences on Wednesday 17th August 2022. Ensure full compliance in all the stations nationwide.”
This will not be the first time electricity workers will threaten to put the nation in darkness. On May 18, the union issued a 14-day ultimatum to the Managing Director/Chief Executive Officer, MD/CEO of the company.
In the circular titled “Unresolved issues on the year 2021 promotion exercise and others,” the union threatened to down tools at the expiration of the ultimatum if its grievances were not addressed.
NW Tech Capital Appoints Stella Damasus to Help Boost African Expansion
By Adedapo Adesanya
Nigerian veteran actor and singer, Stella Damasus, has been appointed as the lead Consultant for talent acquisition of Las Vegas-based company, NW Tech Capital (NWTT) Beauty and Wellness division in its African expedition.
In a statement, the company said, “NW Tech Capital and TROPICSLAB is pleased to announce that award-winning Nollywood celebrity Stella Damasus, has joined us, as lead Consultant for talent acquisition of the company’s Beauty and Wellness division in its African expedition.”
It was disclosed that she will be tasked with the responsibility to expand the company’s tentacles by acquiring the best talents to fulfil the vision of establishing a flurry of high-end celebrity cosmetic brands across Africa.
NW Tech Capital, a publicly traded diversified holding company that was founded in 1996, is actively involved in the acquisition and investment of small, mid-size, and development-stage private businesses in varied industries.
Based on Tropicslab’s clinically tested formula, over the next five years, NWTT projects to invest at least $100,000,000 in Africa, in Skincare research and development, manufacturing, distribution, and marketing, to generate substantial revenue for our shareholders and to help combat skin cancer for people of colour.
Speaking on the projection, NWTT CEO Mr Cedric Yengo said – “Stella brings with her a wealth of experience and refined skill in talent acquisition that is almost unparalleled in today’s market.
“With her extensive connections in the industry and her acumen for strategic alliances, we believe that Stella will help us to position ourselves as the premier Beauty and Wellness Company, in the nearest future”.
According to Ms Edith Delight CEO of Tropicslab, “The Task Force led by Stella Damasus will begin accepting applications from celebrities immediately, for the creation of high-end celebrity cosmetic brands”.
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