Transcorp Hotels Launches Aura, an Online Marketplace for Accommodation and Experiences

  • Nigeria’s largest hospitality brand launches a new platform for booking vacation homes, holiday lets, and experiences.

  • Aura is a new platform that connects people to great accommodation, great food, and memorable experiences in different cities across Africa

  • Aura to partner with homeowners, hoteliers, restaurateurs, tour operators, and locals to redefine travel and tourism

Africa’s leading hospitality brand Transcorp Hotels Plc. has announced the launch of Aura, a new digital platform through which people can book accommodation, restaurants, and experiences.

 

The new brand, Transcorp’s first in the alternative accommodation segment, is part of the company’s asset-light model, leveraging technology to deliver true hospitality, exciting experiences, and drive shareholder value.

 

“It’s a new dawn in the hospitality industry! I am thrilled to introduce you to Aura by Transcorp, the digital platform we are using to connect people to quality accommodation, great food, and awesome experiences,” Managing Director and Chief Executive Officer of Transcorp Hotels Plc. Dupe Olusola said.

 

“For more than 30 years, Transcorp Hotels Plc has been at the forefront of creating a superior guest experience at our locations. Today, our commitment to innovation has offered us an opportunity to extend this beyond the hotel premises,” Olusola added.

 

The launch of Aura by Transcorp is one of the most significant developments in the company’s history as it seeks to transform the travel and tourism industry in Africa by focusing on three important components of travel, whether for leisure or business — where you stay, what you eat and how you spend your time. With its people-driven hospitality model, Aura is set to revolutionise travel and help remind Africans of our deep history of hospitality.

 

Speaking on the launch of Aura, Obong Idiong, Chief Executive Officer at Africa Prudential Plc, Aura’s technology partners, expressed his excitement. “Finding the right accommodation when you travel can be incredibly complex. Options available for the right prices are often limited, and travellers sometimes end up with accommodation that taints the travel experience. Transcorp Hotels Plc has been able to fix that with Aura and we are proud to be associated with them.”

 

“To ensure topnotch user experience, we built a solution to drive digital transformation through the adoption of shared living spaces for the Aura business. With an advanced search algorithm powered by artificial intelligence, Aura determines the relevance of locations taking into consideration, the customers’ preferences and requirements to meet them at the point of their needs,” Idiong added.

 

Priscilla Adeboye, a travel enthusiast and early adopter of Aura, said the global pandemic has pushed international travel down her list. “But I still want to be able to take some time off work or spend a weekend away from home with the family. I have found incredible homes on Aura that meet my need for space and privacy.”

 

Working with thousands of partners across Nigeria and different cities in Africa, Transcorp Hotels Plc. is building the continent’s largest platform for people-driven hospitality. While travellers enjoy the right selections at the best prices on Aura, hosts can also earn a lot of money by receiving guests in their unoccupied homes and sharing the local culture with them.

 

For travellers who would rather stay in hotels, Aura also has a great selection of some of the best hotels in every city.

 

With the launch of Aura, Transcorp Hotels Plc. has further cemented its leadership in the hospitality industry and reinforced its commitment to innovation and superior guest experience across different demographics.

 

Guests and hosts can sign up at aura.transcorphotels.com to start booking or hosting. The service is currently available in Nigeria only, but the company said plans are already in place to expand to major cities in Africa.

When will Seplat Chairman, ABC Orjiakor Pay His Debt?

In life, there is a time for everything, a time to sow and a time to reap. Indeed, there is a time to be born and a time to die.

In the business sector, there is often the need to obtain a loan in a bid to push an organisation to the next level. As such, there is a time to obtain a loan and a time to also payback.

In recent times, one of the biggest talking points in the banking industry and indeed the court has been about a loan obtained by Cardinal Drilling Services (CDS), a sister company owned by the Chairman of Seplat Development Company (SPDC), ABC Orjiakor.

The loan running into millions of dollars was originally obtained from defunct Diamond Bank before it was inherited by Access Bank Plc when it acquired Diamond Bank.

So dirty has the back and forth of the repayment of the loan been that both plaintiff and defendant have been at loggerheads.

Their lawyers have also not been spared of the mudslinging. Access Bank recently wrote to the Legal Practitioners’ Privileges Council (LPPC) and the Legal Practitioners’ Disciplinary Committee (LPDC), demanding the sanctioning of Mr Babajide Koku (SAN) as well as Etigwe Uwa (SAN), both lawyers to SPDC, for alleged professional misconduct.

The petition against Koku and Uwa stated that both lawyers engaged in acts unbecoming of legal practitioners and contravened well-established legal principles in bad faith.

According to Access Bank, SPDC did not meet the condition of the court by posting a bond of $20 million dollars as security before applying for the suspension of its interim Marewa injunction on its assets at the Appeal Court.

There have also been claims that Access Bank is not only bullying SPDC but is also attempting a hostile takeover.

In the real sense of things, how does a hostile takeover come into the equation?

If Orjiakor is not denying owing Access Bank through defunct Diamond Bank, why then can’t he just pay up what he owes instead of going to court.  If indeed SPDC is not responsible for the loan, is Cardinal Drilling Services Limited also denying borrowing the loan?

Actions and statement like a hostile takeover in view of current developments only paints the picture that Cardinal Drilling Services Limited is not a good corporate citizen.

A responsible entity that obtains a loan shouldn’t be forced to pay back. In a sane clime, such a company will pay back what it owes so that others in need of loans can access them.

With the business integrity of Seplat Development Company’s chairman presently being second-guessed due to the case in court, Industry Watchers are saying that it is better for Orjiakor to pay his debt.

The argument is that a debt is an obligation, and one who obtains a loan must pay. Why then can’t Orjiakor just fulfill his obligation knowing that the debt will always remain while the interest will also continue to increase?

Morola Babalola, The Maven Of Real Estate Business In Nigeria

When it comes to the business of Real Estate in Nigeria, the name Morola Olabisi Babalola is definitely worthy of some accolades and encomium. Driven by her passion to create impact and see many rise from the scratch of shelter, to live among the high and mighty in the society, coupled with her spirit of hard work and wealth of experience, she has turned the fantasies of a countless number of families into fantastic realities.

No doubt, when Morola was going into the Nigerian property business, she had one goal at the back of her mind, to help those who would not have dreamt of owning a house, not just to own a house, but to own it among the high class. Her imprints in the industry have shown that she set out to impact the actual end-users, people who are actually in need of homes, reaching out to new families who are just growing up with the creation of “middle-income-homes” in the high-ranked area of Lekki and Victoria Island. She is said to have been one of the realtors that broke the fallow ground of that area. Today, many professionals, families, small and medium business owners who are now proud house owners, have her to thank.

As if that was not enough, Morola in her bid to ensure no one is left out no matter their level of income, pioneered a housing cooperative “Affordable Housing Cooperative Society Ltd” which is aimed towards seeing tenants become landlords of the houses they rent, empowering members and putting their dreams right in their hands. (Watch out for the unveiling of this very soon)

With about two decades of experience, the Ogun state born mother of three began her career in real estate when many were still scared of venturing into the sector. She has been exposed to the industry right from the beginning. As a pioneer staff with the foremost real estate company, Primewaterview Limited, Morola started most of the housing units in the company, with individual units in Oniru. At the time, she was also the head of Corporate Services in charge of marketing and managing of high net worth individuals.

Morola’s hard work, passion and creativity saw her climb the ladder of greatness when she was deservedly promoted to become the Managing Director of PWV Management Services (a subsidiary of the group company) where she turned the subsidiary around from drowning into a profitable venture and later the Group MD and Chief Executive Officer of Primewaterview Holdings Limited in 2012, after the resignation of the erstwhile GMD and CEO, Adetunji Ogunwusi. She practically organised the facility management and other subsidiary companies for the firm.

After selflessly serving under the Primewaterview company for close to 20 years, Morola finally emerged with her own, Townsend Property Investments Limited, a seasoned and fast-growing indigenous real estate Company with a passion for affordable and comfortable housing development, in 2017. Although the company had been incorporated earlier, the full operation began in the year 2017. It is interesting to know that this was a period when the country’s economy was being shaky, but Morola was born to succeed even in the stormy weather. Almost immediately, Townsend hit the ground running with the launch of a 38-unit home in Lekki delivered to the subscribers on the 5th of February, just as promised. At the moment, some other massive, outstanding housing projects are in the pipeline.

With Townsend Properties Limited, Morola is setting a new goal post for others to follow, with the launching of real estate into various other sectors, like tourism, with partnership deals with international organisations like the African Union, AU. This is geared towards building tourist destination centres across the state of the federation. This is in a bid to create more comfortable and stress-free experience for tourists. This initiative will see tourists in a whole new world of a fascinating experience.

Stakeholders Endorse Ecobank Stewardship Pack and School Bundle

Stakeholders in faith-based organisations and education sector have endorsed the two new products recently introduced into the financial market by Ecobank Nigeria, saying they can provide solutions to their needs. The products Ecobank Stewardship Pack and the Ecobank School Bundle are targeted at religious and educational institutions at all levels respectively.  The Ecobank School bundle is designed to help educational institutions manage their banking needs more effectively so they can concentrate on providing world-class education. It comprised a bouquet of digital offerings that includes Omniplus/Omnilite, Collegepay, Ecobankpay, Web collections Paydirect, Point of Sale Terminals (POS), NIBBS platforms, EBILLS PAY, Asset Finance and Ecobank School Loan. The Ecobank Stewardship Account on the other hand is designed to help religious organizations run their daily operations smoothly and earn interest at the same time. Also referred to as The Good Steward Pack, its features include: zero monthly maintenance charge and interest rate payable on average monthly balance amongst others.

Speaking at the virtual launch, Prof. Humphrey Adebayo, Vice Chancellor, Covenant University, Ota, commended Ecobank Nigeria for taking the initiative to create the innovative products, stressing that they would add value to the operations of the various target groups. He lauded Ecobank for rising to the challenges of covid 19 pandemic by providing services to the banking public through its various digital offerings, stating that the new products would further free time for them to focus on core roles.

According to him, “The pandemic has disrupted human activities, and changed the perspective of the world thereby increasing the need for more digital and innovative solutions to the problems it created, which will further facilitate the ease of doing of business. Education and religious institutions were highly affected by the lock down, creating a gap in the system. Digital solutions become extremely important for online learning and services with digital financial solutions being helpful with collection. This has helped in freeing these institutions to focus on their core activities. The digital platform provided by Ecobank is efficient and guarantees a high level of security and allow for real time banking services and with minimal downtime. The new Ecobank products will undoubtedly add value to these institutions.”

Alhaji Mohammed Balarabe, a seasoned Banker and chief launcher at the event said the target group would find them useful as they embark on their conventional activities. According to him, “The new normal presents a lot of challenges in almost all aspects of our life in particular, the faith-based organizations and educational institutions because of their conventional way of carrying out activities. In a bid to address these challenges, Ecobank introduced these targeted products that will help tackle them. I believe more will come our way from the Ecobank platform.”

At the launch which doubled as Ecobank Public Sector Stakeholder Engagement Webinar titled “Digital enablement of education and faith: Winning tools for new normal lifestyle”, the  products also received endorsement from Mrs. Olabimpe Aderiye, Hon. Commissioner of Education, Ekiti State, Chief ‘Yomi Otubela, National President, National Association of Proprietors of Private Schools (NAPPS) and host of others.

Carol Oyedeji, Executive Director, Commercial Banking, Ecobank Nigeria while welcoming guests at the virtual launch was optimistic that the products can effectively assist educational institutions and faith-based organizations through tailor made digital offerings against the backdrop of the new normal lifestyle occasioned by the covid 19 pandemic. She added that “At Ecobank, we are using digital technology to assist businesses for payments and collections, financially include many millions into formal financial systems, and therefore improve lives across Africa. We are indeed making banking easier, more accessible and more affordable across the continent than ever before.”

Moji Oguntoyinbo, Segment Head, Public Sector and Agribusiness, Ecobank Nigeria, said “Ecobank products are designed to bridge the gap and meet funding and other financial needs quickly and efficiently. Education and religion are interwoven right from the onset. Religion institutions have been huge investors in Education. These products are designed to provide secured savings and collection channels especially in the post covid 19 era where digitization is highly helpful to limit the spread of the virus.”.

Ecobank Group Signs A Remittance Partnership With Small World Financial Services

Leading international money transfer provider Small World Financial Services (“Small World”), has signed a partnership with Ecobank -the leading Pan-African banking group, based in Lomé, Togo.

The agreement brings the strengths and assets of both organisations to offer money transfer services to Africans in the diaspora. This is an exciting development for both Small World and the Ecobank Group as Small World can continue to grow its global customer base as well as its 250,000 pick-up locations, while Ecobank, with its footprint across 33 African countries can further expand its remittance reach within African communities across Europe and other parts of the world. Small World customers will be able to access the unparalleled Ecobank Africa -wide network in three ways: Direct transfer to Bank accounts, mobile wallet; and cash pick up at any Ecobank location.

This partnership will further financial inclusion in Africa as Ecobank will make available the Ecobank Xpress Account (a mobile based bank account developed for the unbanked and under-banked) for the recipients of remittances sent by Small World Financial Services’ customers.

Nick Day, Chief Executive and Founder of Small World, said: “We are delighted to be forging a partnership with Ecobank. It is a leading bank in Africa with over 50,000locations in the region which means our global customers get access to even more ways to send money home to African countries. Importantly, Ecobank shares our commitment in delivering great customer service alongside providing fast, affordable and reliable transfers.

“Nana Araba Abban, Ecobank Group Consumer Banking Head, added: “We’re proud to offer seamless payments across our vast borderless network in Africa. At Ecobank, we value partnerships, such as this, that enable Africans in the diaspora to remit money affordably and conveniently. This provides a win-win partnership as Ecobank can offer banking services to Africans wherever they are on the globe.”Ecobank shares Small World’s commitment of making financial services seamless, convenient, and interoperable across Africa.”

WITH YOUR FIRSTMONIE WALLET, YOUR VALENTINE HAS GOT A BOOST WITH BONUS DATA AND AIRTIME

You’ve got Firstmonie Wallet on your phone? Did I hear you say Yes… then, count yourself lucky because your first daily recharge and data subscription between 13 – 15 February will give you the opportunity to speak more to your loved ones, or spend more time on your favourite social media channel.

In sharing love this valentine season, Firstmonie Wallet – the electronic wallet initiative by FirstBank – will gift customers bonus 100% data and 50% airtime on their first recharge each day across all GSM networks… make some Noise!!!

Firstmonie Wallet is your friendly e-wallet to pay for your utility bills, buy airtime and data, transfer and receive money from any account in a seamless and convenient way and much more. It is your wallet with many more possibilities.

You don’t have Firstmonie Wallet on your phone? Then count yourself also lucky because you will be gifted the bonus airtime and data once you download the Firstmonie Wallet app, purchase airtime and data; that’s all, data and airtime is all yours. You can also sign up on Firstmonie Wallet via USSD by simply dialing *894*1#.

To sign up for Firstmonie Wallet using your phone,

  • Simply download the app from your store (iOS or Android)
  • Enter your mobile number and agree to terms and conditions.
  • Follow the steps to complete registration.

To sign up for Firstmonie Wallet via the USSD string,

  • Just dial *894*1#.
  • Choose 1 to register without BVN and input necessary information.
  • Choose 2 to register with BVN and follow the prompt.

Use your Firstmonie Wallet between 13 – 15 February and share in our love this valentine.

Terms and conditions apply.

Ecobank Nigeria announces the pricing of its Senior Unsecured $300 million bond

Ecobank Nigeria (“ENG” or “the Bank”), a wholly owned subsidiary of leading pan-African banking giant, Ecobank Transnational Incorporated (‘ETI’), the parent company of the Ecobank Group, announced that it has successfully priced its USD 300 million bond issuance maturing in February 2026, with settlement of the bond to take place on 16 February 2021.

The fixed-rate, US dollar-denominated bond, with a tenor of 5 years, carries a coupon rate of 7.125% and will be listed on the London Stock Exchange. It is accompanied by an Issuer Rating of B- from Fitch Rating Agency and S & P.  The coupon / yield represents the lowest ever coupon / yield achieved by a Nigerian financial institution for a benchmark bond transaction. At the peak of marketing the transaction, the issue was over 3 times oversubscribed, with significant interest from international investors. The transaction opened with Initial Price Thoughts (‘IPT’s’) of 7.75% and finally tightened to close at 7.125% on the back of robust demand. The strength and depth of the book demonstrated global investors’ strong appetite for the Ecobank franchise in Nigeria, a testament to the strength of the Ecobank Group. This transaction is the first non-sovereign bond from Africa in 2021 and is milestone capital raise for the banking sector in Nigeria, giving Ecobank access to global debt capital markets, and more favorable credit terms, commensurate with its strong financial position and robust capital structure. For international investors, it represented an attractive option to gain exposure to Nigeria.

This transaction followed a series of virtual global investor calls, with a number of blue-chip local, regional and international financial institutions, led by Citi, Mashreq, Renaissance Capital and Standard Chartered Bank as Joint Lead Managers and Bookrunners.

Commenting on the issuance, Mr. Patrick Akinwuntan, Managing Director of Ecobank Nigeria, said: “Despite the challenging global environment owing to the COVID-19  pandemic, and on the back of a successful NGN 50bn Tier 2 issuance in December 2020, ENG was able to successfully issue and price Nigeria’s first 2021 senior unsecured 5 year bond transaction. Ecobank Nigeria, through this issuance, is being  proactive in optimizing its capital structure as it continues to drive its medium term growth strategy of establishing itself as a leading facilitator of pan-Africa and international trade and payments.”

Mr. Akinwuntan continued, “I would like to extend my appreciation to our regulators, the Central Bank of Nigeria, for their timely support and continuous guidance, in granting necessary regulatory approvals.”

He further added: “We believe that our  capital raising activities are  key steps forward towards strengthening ENG beyond the regulatory ratios in addition to diversifying ENG’s medium-term financing sources. ENG is poised for continued growth in the Nigerian financial services industry.”

Video: Scanfrost & Sony Home Appliances Store opened in Ikeja City Mall

Quality and availability just berthed to the advantage of people with taste for quality living in Ikeja and its environ following the opening of a new home appliances store where various Scanfrost and Sony products are readily available, shoppers are sure guarantied of good times.

The new stores which is powered Mauve Motions Ventures is at Shop L-5, Ikeja City Mall, Alausa, Ikeja, Lagos. Tel- 2349027057557.

Below is the overview video of the store;

FIRSTBANK PROVIDES LOAN FACILITIES TO ITS FIRSTMONIE AGENTS

In furtherance of the need to promote the business activities of its foremost agent banking platform – Firstmonie Agents – Nigeria’s leading financial inclusion services provider, First Bank of Nigeria Limited, has announced the provision of loan facilities – up to one million naira – to its banking agents. The Bank currently has over 86,300 Firstmonie Agents, spread across the country’s 772 Local Government Areas.

With its location in every neighbourhood, Firstmonie Agents have been integral to filling the financial exclusion gap, providing convenient banking services that are easily accessible, thereby saving time and travel costs for individuals in the suburbs and remote environments that have no access to financial services.

The  Bank’s financial inclusion activities is in line with the mandate of the Central Bank of Nigeria (CBN) to ensure the availability of affordable financial products and services to all individuals and groups of people in the country; irrespective of location, literacy levels, familiarity with technology and accessibility to modern infrastructural facilities. The Firstmonie Agent channel is amongst the Bank’s many initiatives to expand financial access in the country.

Appreciating the Firstmonie Agents, Mr. Chuma Ezirim, Group Executive, e-Business & Retail Products, First Bank of Nigeria Limited said “the roles played by our Firstmonie Agents in promoting businesses across the nooks and crannies of the country cannot be overemphasized as they have continued to set the pace in extending financial inclusion to communities with little or no access to financial services.

“With our Firstmonie Agents in every neighbourhood, several communities have witnessed a surge in business and financial activities, which is contributory to national growth and development. We commend our Agents and are delighted to support them with credit facilities, which they can access 24hours a day in less than 2minutes.”

FBN HOLDINGS PLC ANNOUNCES NEW BOARD APPOINTMENTS

FBN Holdings PLC (“FBNHoldings), Nigeria’s leading financial holdings company, has announced the appointments of Mr. Seni Adetu and Mrs. Juliet Anammah as Independent Non-Executive directors, while Mr. Otu Hughes has been appointed as a Non-Executive director. These appointments are subject to the approval of the Central Bank of Nigeria (“CBN”).

Speaking on the appointments, the Group Chairman of FBN Holdings Plc, Dr. Oba Otudeko, CFR, said, “On behalf of the board, management and staff of FBNHoldings, I am delighted to welcome the trio of Seni Adetu, Mrs. Juliet Anammah and Otu Hughes to the FBNHoldings board as they bring on board their combined professional experience and expertise of over 97 years, cutting across various industries and institutions of global repute.”

“I am certain that these rich experiences will have immediate and long-term impact on the group and its subsidiaries across Africa and beyond,” he added further.

SENI ADETU

Seni Adetu, a former Managing Director/CEO Guinness Nigeria Plc, has 35 years of private sector experience garnered at the highest levels primarily with John Holt Plc, Coca-Cola International and Diageo (Guinness) Plc in various countries within and outside Africa. He holds a first degree in Chemical Engineering and Masters in Business Administration (with specialization in Marketing), both from the University of Lagos. Adetu was at various times Marketing Director, Coca-Cola Nigeria Ltd, Managing Director of Coca-Cola, and the first African Managing Director/CEO and Executive Vice Chairman of Guinness Ghana Plc.

In 2009, Adetu was appointed Group Managing Director/CEO East African Breweries (EABL), the biggest company in East Africa, based in Kenya, during which time he was named Runner-up Forbes/CNBC CEO of the Year 2012 in East Africa.  He was subsequently appointed MD/CEO of Guinness Nigeria Plc and Executive Chairman Diageo Brands Nigeria thus, again becoming the first Nigerian in nearly 20 years to lead that company. Adetu has had working stints in Hungary and the UK and has been exposed to various high-profile leadership courses globally including at the prestigious Harvard Business School.

He has served on the boards of various multinational companies in both Executive and Non-Executive capacity in Nigeria and abroad and was until recently an Independent Non-Executive Director on the Board of Fidelity Bank Plc and Non-Executive Director at APT Pensions Ltd among others.

Adetu is the Founder/Group CEO of Algorithm Media Limited and Ogilvy Nigeria Limited, two leading Marketing Communications agencies in Nigeria, in partnership with WPP, the world’s largest advertising and media agency network. He is a member of many reputable social clubs including the Metropolitan Club Lagos. He is also the immediate past National Vice President of the University of Lagos Alumni Association.

JULIET ANAMMAH

Juliet Anammah is Chairwoman Jumia Nigeria & Head of Institutional Affairs Jumia Group. Jumia is the largest eCommerce platform in Africa and the first African Tech start-up to be listed on the NYSE

She is an experienced executive with 28+ years of professional experience including 7 + years at Partner / Chief Executive level.

Before her current role, she was the CEO of Jumia Nigeria. Prior to joining Jumia, Juliet spent 16 years at Accenture and was the Partner managing Accenture’s Consumer Goods Practice in West Africa.

A Pharmacist by training, she started her career in Sales & Marketing with May and Baker (Sanofi-Aventis) in 1991 before joining Accenture as a Senior Strategy Consultant in 1999.

Juliet also serves on Corporate and non-profit Boards in a non-executive capacity. She is currently on the Boards of Flour Mills of Nigeria and APT Pensions as Independent non-executive member. She is also an EXCO member of Consultative Action Group for the Poor (CGAP) a not for profit agency funded by the World Bank, Bill and Melinda Gates Foundation and several Bilaterial/ Multilateral agencies.

She holds a Bachelor of Pharmacy degree, an MBA (Finance track) and is an alumnus of both Wharton College University of Pennsylvania (AMP) and Yale University.

OTU HUGHES

Otu Hughes has over 25 years’ experience in operations and strategy, principal investment, mergers and acquisition as well as capital raising in both the US and Sub-Saharan Africa. He started his career in 1993 with Lehman Brothers, providing strategic and financial advisory services to government entities and companies in privatisation and empowerment issues, notably Brazil (power and mining), Ghana (mining), South Africa (empowerment programmes), amongst others.

Otu joined Deutsche Bank in 1998 as Associate– Mergers, Acquisitions and Corporate Advisory Group with the oversight responsibilities of providing mergers, acquisitions, corporate and strategic financial advisory services to companies and government agencies across industries and countries, rising to Vice President. He is the Co-founder and Principal of Rofgam/Hughes Consulting and also worked at KeyBanc Capital Markets, amongst many others.

Otu is the Co-Founder & Managing Director of Candesco Limited, set up with the primary responsibility of developing and managing off-grid and independent power projects for Sub-Sahara Africa market, providing affordable, clean and stable power to clusters of communities.

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