BrandArena : March 2025

Monday, 31 March 2025

Volvo CEO Jim Rowan Takes a Bow as Håkan Samuelsson Returns as Interim Chief

Volvo CEO Jim Rowan will step down immediately, with his predecessor Håkan Samuelsson returning to lead the company on an interim basis.

Nissan has confirmed plans to launch a new small electric city car in 2026, based on the Renault Twingo. This new model is expected to expand the Japanese automaker’s small EV lineup, with a particular focus on the UK market where right-hand drive versions may be produced.

AfrexInsure, the fully-owned specialty insurance arm of the African Export-Import Bank (Afreximbank), has welcomed Oando PLC as a key client, further solidifying the growing business partnership between the two entities. The collaboration will allow Afreximbank to provide critical risk management solutions to Oando, safeguarding the bank’s investments in the company's Nigerian operations through tailored specialty insurance offerings.

The head of Asia Rugby has confirmed that the UAE, Saudi Arabia, and Qatar are preparing a joint bid to host either the 2035 or 2039 Rugby World Cup.

Guaranty Trust Holding Company Plc (GTCO) saw a significant rally in the equities market last week, driven by its impressive earnings performance and strong dividend declaration. The leading financial services group reported a record-breaking net income of over N1 trillion for the 2024 financial year and announced a final dividend of N7.03 per share.

The Nigeria Deposit Insurance Corporation (NDIC) has announced plans to commence the first tranche of liquidation dividends from the assets of the defunct Heritage Bank in April. The move to reimburse depositors with balances exceeding the insured limit of N5 million.

TikTok recently convened its second Annual Africa Safer Internet Summit in Cape Town, South Africa, uniting government officials, regulators, and industry leaders from across Sub-Saharan Africa. Delegates from South Africa, Nigeria, Ethiopia, Cameroon, Côte d'Ivoire, Kenya, and other nations gathered to address pressing issues related to online safety, content moderation, and digital policy development.

Following a groundbreaking 6th Summit and Grand Finale in Kigali, Africa’s Business Heroes (ABH), the flagship philanthropic initiative of the Jack Ma Foundation in Africa, has officially launched its 2025 Call for Applications. This year, ABH is broadening its impact by actively encouraging entrepreneurs from historically underrepresented regions, particularly Francophone and Central Africa, to apply.

Project Management Institute (PMI), the world’s leading authority on project management, is excited to announce the return of PMI Global Summit Series Africa 2025. Set to take place from August 19 to 21 at the Kigali Convention Centre in Rwanda, this premier event makes its long-awaited comeback following its postponement in 2024. As Africa’s leading project management gathering, the Summit will unite key stakeholders to foster collaboration, innovation, and skills development in the profession.

Nigerian edtech startup AltSchool Africa has introduced an ambitious initiative to expand access to artificial intelligence (AI) education across Africa. Titled "AI for 10M Africans," the program aims to equip 10 million learners with AI skills, catering to a broad spectrum of educational backgrounds and expertise levels.

The African Development Bank Group (AfDB) has approved the establishment of the End School-Age Hunger Fund (ESAH), a dedicated initiative aimed at addressing hunger and malnutrition among school-aged children across Africa.

Global Ad Market Faces $20bn Cut Amid Trade and Economic Turmoil

...Advertising Growth Forecasts Cut Due to Market Volatility

Growth projections for global advertising spend have been revised downward for both 2025 and 2026, with this year’s estimate dropping by 0.9 percentage points to 6.7% and next year’s by 0.7 percentage points to 6.3%. This adjustment equates to a $19.8 billion reduction in anticipated ad spending.

First Asset Management, a leading Nigerian investment firm and subsidiary of First HoldCo Plc, has introduced the FBN Blended Dollar Fund, offering investors a strategic mix of U.S. equities and high-profile Nigerian investments. The fund aims to optimise returns and provide a hedge against inflation and currency fluctuations.

Coca-Cola in Talks to Rejoin Premier League as Official Partner

Three years after its previous deal expired, the Coca-Cola Company is in advanced discussions to return as a top-tier commercial partner of the Premier League, marking a potential comeback.

MTN Group and Airtel Africa have announced a strategic partnership to share mobile network infrastructure in Uganda and Nigeria, a move aimed at enhancing service coverage while optimizing investment expenditures. The collaboration was confirmed in a joint statement released on Wednesday.

Bigi Returns as Headline Sponsor for Nigerian Idol Season 10

...Show Kicks Off on April 20

Bigi Carbonated Soft Drinks, the flagship brand of Rite Foods Limited, proudly continues its support for musical talent by returning as the headline sponsor of Nigerian Idol Season 10. This marks the fifth consecutive year of Bigi’s partnership with the reality music competition, reaffirming its commitment to fostering entertainment excellence in Nigeria.

Micro, small, and medium-sized enterprises (SMBs) are the backbone of economies worldwide, accounting for 90% of businesses, over 70% of employment, and 50% of global GDP, according to the United Nations. These businesses drive innovation, create jobs, and fuel economic growth. In Nigeria, SMBs play a vital role in strengthening local economies and contributing significantly to the nation’s GDP.

The Nigerian smartphone market is fiercely competitive, with brands constantly pushing the envelope on innovation and affordability. While Tecno, Infinix, and Redmi have long been dominant players, the itel Power 70 is shaking up the landscape. With its massive 10,000mAh battery, superior durability, and impressive high-end features at an unmatched price, the itel Power 70 is setting new standards. Here’s how:

Nigerian Exchange Closes Positive as Investors Gain N26bn

The Nigerian Exchange (NGX) market capitalisation increased by N26 billion on Tuesday, as investors saw a rise in their portfolio values. This marked the second consecutive day of positive trading, with the All-Share Index rising by 0.04% to 105,593.28 points.

New Balance’s annual “Grey Day” celebration continues to be a major event on the brand’s calendar, honoring its legacy of neutral-toned footwear. This year, the New Balance 1000 joins the lineup with a sleek “Sea Salt” edition.

Samsung Electronics announced on Tuesday the sudden passing of its co-CEO, Han Jong-hee, at the age of 63, due to a heart attack. His unexpected death leaves a significant leadership gap at the South Korean technology giant.

United Bank for Africa Plc (UBA) has announced a 26.1% increase in its profit after tax for the 2024 financial year, reaching N766.57 billion compared to N607.70 billion in 2023. This growth translates to an earnings per share of N21.73, up from N17.49 in the previous year.

Chelsea co-owner Todd Boehly has suggested that the club’s ownership structure could change depending on the outcome of discussions regarding the future of Stamford Bridge.

Bolt, the leading ride-hailing platform, hosted an Iftar gathering in Kano on Tuesday, March 19, bringing Muslim driver-partners together in celebration of the holy month of Ramadan. The event fostered community engagement, providing a platform for drivers to share a meal, exchange feedback, and strengthen their connection with the Bolt team.

South African startup Jem HR has secured ZAR60 million (approximately US$3.3 million) in pre-Series A funding to accelerate its expansion and enhance its WhatsApp-based human resources and employee benefits platform.

Alibaba.com, a leading global B2B e-commerce platform, has partnered with Kwik, Nigeria’s premier digital logistics platform, to enhance export opportunities for Nigerian manufacturers and producers.

Publicis Groupe Africa, in partnership with the Institute for Internal Communications Africa (IFICA), has introduced Africa’s first comprehensive internal communications benchmark survey. The initiative aims to equip internal communications specialists with open-source insights, which will be compiled into a whitepaper published by both organisations.

Google LLC has signed a definitive agreement to acquire Wiz, Inc., a leading cloud security platform based in New York, for $32 billion in an all-cash transaction, subject to closing adjustments. Upon completion of the acquisition, Wiz will become part of Google Cloud.

Oando Plc's Market Value Plunges to N600 Billion Amid Sell-Off

Oando Plc experienced a sharp decline in its market value following a fresh wave of sell-offs in the energy stock. This downturn has wiped out approximately 51% of its worth from its 52-week high on the Nigerian Exchange equities segment.

Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, has welcomed the Union of Comoros as its 44th member country, underscoring growing support from more than three-quarters of Africa’s nations. This membership enables Comoros to explore strategic opportunities for advancing critical infrastructure projects.

The naira weakened against the US dollar in the foreign exchange market as rising demand for the greenback outpaced available supply.

Registry Africa, the official operator of the .africa top-level domain (TLD), and GoDaddy, a global leader in domain registration and web services, have announced that the .africa domain is now accessible on www.GoDaddy.com. This milestone aims to enhance Africa’s digital presence while meeting the growing international demand for stronger connections with the continent.

As the world marks International Women’s Day this month, the film and television industry is emerging as a dynamic force for gender transformation and a powerful platform for empowering women. This is particularly evident in Africa, where women are increasingly taking on leadership roles within the sector.

Meta, in collaboration with Data Science Africa, has unveiled the Llama Impact Grant to support startups and researchers across Sub-Saharan Africa. As part of Meta's global Llama Impact Grants, this initiative seeks to foster innovative projects that utilise Llama, Meta's advanced open-source large language model, to create tailored solutions addressing regional challenges.

Insight Publicis, a leading integrated marketing communications agency in Nigeria, has officially ended its partnership with Airtel Nigeria, effective immediately.

Google Replaces Google Assistant with Gemini in Major AI Overhaul

Google is officially phasing out its long-standing virtual assistant, Google Assistant, in favor of its next-generation AI initiative, Gemini. Announced in a blog post on Friday, the transition marks a major shift in the company’s AI strategy, with a broader rollout of Gemini expected for more users in the coming months.

Following the success of her first two signature models, Coco Gauff and New Balance have unveiled the Coco Delray, a tennis shoe crafted for everyday players at all skill levels.

The Asset Management Corporation of Nigeria (AMCON) has highlighted the significant difficulties it faces in recovering outstanding debts, as some debtors remain unwilling to pay.

Marking 125 years of Ajax’s footballing legacy, adidas and the club have unveiled a timeless anniversary collection.

Trading on Nigeria’s stock market ended in the red on Friday, as key performance indices dipped by 0.25 per cent.

Relevent Sports has secured a groundbreaking deal to manage commercial rights for the UEFA Champions League and other top European men’s club soccer competitions from the 2027-28 season through 2032-33.

Entrepreneurs in Africa and the Middle East can now apply for the 15th edition of the Orange Social Venture Prize (OSVP), an initiative dedicated to driving social innovation and fostering entrepreneurship across the region. Since its launch in 2011, OSVP has recognized and rewarded groundbreaking startup projects that use technology to create positive social impact in sectors such as education, healthcare, e-commerce, agriculture, and environmental sustainability.

Ahead of next week’s 2025 Conference of African Ministers of Finance, Planning and Economic Development, a Committee of Experts has convened at the UN Conference Centre in Addis Ababa for a three-day technical meeting to evaluate Africa’s economic and social development and assess progress towards regional integration. This year’s Conference of Ministers is themed “Advancing the implementation of the Agreement Establishing the African Continental Free Trade Area: proposing transformative strategic actions.”

Iwosan Investments Limited, a leading healthcare investment firm, has announced the acquisition of Euracare Multi-Specialist Hospital in Victoria Island, Lagos. This move strengthens Iwosan’s commitment to delivering high-quality healthcare services in Nigeria and reinforces its leadership in the country’s healthcare sector.

itel Unveils Power 70: A Game-changer with 10,000mAh Dual-power Battery

itel, a global smart life brand focused on providing affordable electronic solutions for emerging markets, proudly introduces the itel Power 70. Designed to address the power challenges faced by users in these regions, this smartphone sets new standards in reliability and convenience with its massive 10,000mAh battery capacity, making it an ideal choice for those dealing with frequent power shortages and high energy demands.

Tinubu Seeks Senate Nod for CBN Board Member, NCOS Chief

President Bola Tinubu has formally requested the Senate’s approval for the appointment of Prof. Melvin Ayogu to the Central Bank of Nigeria (CBN) Board of Directors.

The Nigerian naira weakened against the US dollar across currency markets as escalating demand drove exchange rate fluctuations. The local currency dropped to ₦1,536.15, while the parallel market rate depreciated to ₦1,580, according to data obtained from FX markets.

The Nigerian Exchange (NGX) witnessed a significant downturn as investors lost N284 billion following a sell-off in major stocks, including MTNN and banking shares. The market closed in negative territory, with key indicators dropping by 0.43%, reversing the previous day’s marginal recovery.

The WARC Creative 100, the definitive global benchmark recognizing the most awarded campaigns and companies for creativity, has been released. Compiled by WARC Creative, the annual ranking highlights the standout creative work from 2024, as determined by the most prestigious global and regional creative awards.

CIG Group has announced the appointment of Adeleye Fabusoro as its new Group Marketing and Corporate Communications Director.

Monday, 31 March 2025

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