BrandArena

Quest Merchant Bank Ratings Upgraded to BBB+(NG)/A2(NG) as GCR Revises Outlook to Positive

noreply@blogger.com (BrandArena) — Wed, 21 Oct 2026 15:56:31 +0000

Quest Merchant Bank Limited has secured an upgrade of its national scale issuer ratings to BBB+(NG) and A2(NG), following a ratings review by GCR Ratings that also revised the Bank’s outlook from Stable to Positive.

The upgrade reflects the Bank’s continued progress in strengthening its financial position, expanding its market presence and sustaining its growth trajectory. It also reinforces confidence in the Bank’s strategy and its capacity to deliver sustainable growth.

GCR Ratings highlighted Quest Merchant Bank’s strong position in Nigeria’s merchant banking sector, where the Bank accounted for approximately 30 per cent of the sub-sector’s total assets as of 31 December 2025, underscoring its status as one of the country’s leading merchant banking institutions.

The Bank’s financial performance was a key factor in the ratings upgrade, supported by prudent risk management, strong liquidity and resilient earnings. Quest Merchant Bank maintained a non-performing loan (NPL) ratio of 3.2 per cent as of 31 December 2025, while its liquidity position remained strong as of 30 June 2026.

GCR expects the Bank’s financial profile and competitive position to remain stable over the next 12 to 18 months, underpinned by its scale, earnings capacity and continued growth. The Positive outlook also reflects expectations that Quest Merchant Bank will further strengthen its market position and overall profile as its operations expand.

Commenting on the development, Afolabi Olorode, Acting Managing Director/CEO of Quest Merchant Bank Limited, said:

“This upgrade is a strong recognition of the progress Quest Merchant Bank has made in strengthening our business and positioning the Bank for sustainable growth. It reflects the confidence in the strength of our organization, our financial fundamentals and the strategy we have put in place for the next phase of our journey.

“We remain focused on deepening our capabilities, delivering greater value to our clients and building a high-performing institution that is well positioned to capture the opportunities ahead.”

The upgrade to BBB+(NG)/A2(NG), alongside the revision of the outlook to Positive, underscores Quest Merchant Bank’s market position, financial resilience and growth potential as it continues to strengthen its operations and pursue sustainable growth in Nigeria’s financial services sector.

Nomba Expands Cross-Border Payments to Zambia Along $1.2bn DRC Trade Corridor

noreply@blogger.com (BrandArena) — Wed, 21 Oct 2026 15:52:26 +0000

Nomba, a business banking and financial infrastructure platform, has expanded its cross-border payment services from the Democratic Republic of the Congo (DRC) into Zambia through licensed local partners, strengthening its ambition to build a Pan-African business banking platform.

The expansion targets the DRC–Zambia trade corridor, a key route for regional commerce, and follows Nomba’s recent fundraising to expand its cross-border payments infrastructure in the DRC.

Economic ties between the two countries continue to strengthen, with Zambia’s goods exports to the DRC reaching $1.6 billion in 2025, an increase of approximately a third from the previous year, according to the Bank of Zambia. Investment in regional transport infrastructure is also creating opportunities for cross-border trade in sectors including agriculture, retail and wholesale distribution.

However, as trade volumes increase, businesses operating along the corridor continue to face challenges transferring money across borders. Payment delays, complex cash management and foreign exchange shortages can tie up working capital, disrupt transactions and constrain business growth.

Nomba’s expanded payment corridor aims to address these challenges by making cross-border transactions more efficient. Building on its existing operations in the DRC, where businesses can collect and make payments in US dollars (USD) and Congolese francs (CDF) through its platform, the company is working with licensed partners in Zambia to enable Congolese businesses to pay Zambian suppliers instantly in CDF and USD through bank accounts or mobile wallets.

Speaking on the expansion, Yinka Adewale, CEO of Nomba, said: “The ambition to grow intra-African trade has outpaced the financial infrastructure needed to support it. Many of the continent’s busiest trade corridors remain underserved by payment solutions that help businesses move money efficiently and scale. We’ve spent the past decade building solutions to address these challenges, and we’re now extending that infrastructure to the heart of Africa along the DRC–Zambia corridor. This is part of our own ambition to build a business banking platform that enables African businesses to trade, scale and compete beyond their home markets. Africa has a significant opportunity to grow its share of global trade, and that starts with making it easier for businesses to trade across the continent.”

Founded in 2016, Nomba has evolved from a payments business into a business banking and financial infrastructure platform, processing more than $70 billion in annualised payments.

As it expands into new markets, the company is targeting monthly cross-border payment volumes exceeding $1 billion. It also plans to raise its next funding round to support its expansion and develop a broader financial platform designed to help African businesses grow.

As the Zambia corridor develops, Nomba intends to deepen its engagement with businesses operating along the route and provide financial services tailored to their needs. Beyond cross-border payments, its longer-term plans include supporting a wider range of business banking services, such as deposits, foreign exchange and credit, as its market presence and partnerships mature.

LG Electronics and Golden Penny Launch ‘Fill Up’ Promotion for Nigerian Households

noreply@blogger.com (BrandArena) — Wed, 21 Oct 2026 15:48:05 +0000

LG Electronics has partnered with Golden Penny to launch the ‘Fill Up’ promotion, offering Nigerian consumers free Golden Penny food products when they purchase selected LG refrigerators and freezers.

Commencing on 19 October 2026, the campaign brings together two established household brands to provide additional value to consumers, particularly families preparing for the festive season.

Available at all Fouani showrooms nationwide, the promotion guarantees a free bundle of Golden Penny food essentials with every eligible LG refrigerator or freezer purchased during the campaign period. The size of the bundle depends on the appliance purchased.

Customers who purchase the LG GC-L22FFQPB or GC-X24FFCAB Side-by-Side Refrigerator will receive the MAXI Box. Buyers of the LG GN-B392PLGB, GN-B202SQIR, GC-F411ELDM or GN-Y331SLSR Top-Freezer and One Door Refrigerators will qualify for the MIDI Box, while customers purchasing the LG GCF-B205BQCF or GCF-B255BQCF Chest Freezer will receive the MINI Box.

Each eligible purchase comes with its corresponding Golden Penny goodies bundle at no additional cost. The promotion covers selected Side-by-Side refrigerators, Top-Freezer refrigerators and chest freezers, offering consumers additional benefits across different appliance categories.

Speaking on the partnership, Oktae Kim, General Manager, Home Appliances Solutions, LG Electronics Nigeria, said the campaign reflects LG’s commitment to delivering meaningful value to consumers beyond the products they purchase.

“At LG, we believe the products people welcome into their homes should go beyond functionality. They should bring greater convenience, comfort, and value to everyday living. This partnership with Golden Penny is one of the ways we bring that belief to life. We want our customers to enjoy the benefits of our innovative refrigerators and freezers while receiving something extra for their households. With the Fill Up campaign, every eligible purchase comes with a guaranteed bundle of Golden Penny goodies. It is our way of appreciating our customers and making their choice of LG even more rewarding,” he said.

Kim added that the collaboration brings together two brands that play an important role in consumers’ everyday lives.

“Our customers are at the heart of what we do, and we are always looking for thoughtful ways to give them more value. As families plan their meals, prepare for celebrations and make their homes more comfortable this festive season, we are delighted to offer an added benefit that they can enjoy. We encourage consumers in Lagos to visit participating Fouani showrooms, explore the selected LG models and take advantage of the campaign before it ends,” he said.

Beyond the promotional gifts, LG refrigerators and freezers are designed to meet the everyday needs of modern households by helping families preserve food, organise their kitchens and enjoy greater convenience.

Through its ‘Life’s Good’ philosophy, LG continues to focus on developing innovative products and experiences that make a practical difference in consumers’ lives.

The Golden Penny Fill Up campaign reinforces this approach by combining home appliance purchases with additional household essentials, giving consumers more value as they prepare for the festive season.

Consumers can participate by purchasing any eligible LG refrigerator or freezer at Fouani showrooms across Nigeria from 19 October 2026. The offer is subject to stock availability, with every qualifying purchase guaranteed to include the corresponding Golden Penny goodies bundle.

By bringing together LG’s home appliance technology and Golden Penny’s food products, the partnership aims to make upgrading household appliances more rewarding for Nigerian families, offering greater convenience alongside everyday food essentials.

Fearless Energy Drink Celebrates Boldness and Self-Expression at Felabration 2026 Finale

noreply@blogger.com (BrandArena) — Wed, 21 Oct 2026 15:26:13 +0000

Fearless Energy Drink, the official energy drink of Felabration 2026, brought its signature spirit of boldness and self-expression to the festival’s grand finale, with rap battles, dance challenges and live performances celebrating the creativity and individuality shaping Nigeria’s music culture.

Held at the iconic New Afrika Shrine, the week-long festival honoured the life, music and enduring legacy of Afrobeat legend Fela Anikulapo-Kuti under the theme “Who Are You?” For Fearless Energy Drink, a brand of Rite Foods Limited, the theme reflected its philosophy of “I CAN, I AM”, encouraging individuals to embrace their uniqueness, believe in their potential and express themselves with confidence.

As the festival’s official energy drink, Fearless engaged music lovers, young creatives and entertainment enthusiasts through immersive brand experiences and talent-driven activities that brought the festival’s spirit to life.

Central to the brand’s participation was its commitment to providing emerging talents with opportunities to showcase their abilities. Through rap and dance challenges, Fearless put young performers in the spotlight, rewarding outstanding participants with exciting prizes and reinforcing the message that talent deserves an audience and boldness deserves recognition.

The grand finale featured an impressive lineup of emerging artists, including Emgray, Wonka, Kacy, 62d9, General Allen, Tademonaco, Ziggy Machala, Fome Green and Blacksnow. Their performances, spanning rap, hip-hop and Afrobeats, brought youthful energy and fresh creative expression to an audience eager for new sounds and perspectives.

Established performers also delivered memorable moments, connecting different generations of music fans. Fela’s eldest son, Femi Kuti, gave a powerful live performance that anchored the closing celebrations, while highlife and Afrobeats star Kcee thrilled the audience with a distinctive stage presentation featuring traditional masquerades.

Small Doctor further heightened the excitement with an engaging performance, alongside other artistes, including Teni the Entertainer, Sean Tizzle, L.A.X, Barry Jhay and Danny S.

The excitement had been building since Saturday, October 17, with performances by Daddy Showkey, Peruzzi, L.A.X, Barry Jhay and Hotkeed, among others, setting the pace for the festival’s climactic night. A cultural fashion showcase by AO Afriq at Freedom Park added another dimension to the celebrations, highlighting African creativity and contemporary cultural expression.

Beyond the stage, the Fearless Energy Drink stand served as a meeting point for guests and performing artistes, providing opportunities to interact with the brand and experience its product portfolio. The brand’s participation also highlighted its commitment to innovation and market leadership, including its introduction of the first-ever energy drink packaged in polyethylene terephthalate (PET) bottles.

Speaking on the brand’s participation, Olaniyi Aderuku, Brand Manager, Fearless Energy Drink at Rite Foods Limited, said Felabration provided a natural platform to connect the brand’s identity with a cultural movement rooted in originality, courage and creative expression.

“Fearless is built around the spirit of ‘I CAN, I AM’ - believing in yourself, owning your individuality and having the confidence to express who you are. Felabration embodies much of that spirit. Fela was unapologetically himself, and through his music, he challenged conventions and encouraged people to stand by their convictions. Supporting a festival that celebrates this legacy while providing a platform for emerging talents is a natural fit for Fearless,” Aderuku said.

He added that the brand remains committed to connecting with consumers through meaningful experiences that celebrate their passions, interests and shared cultural moments, particularly platforms that give young people opportunities to express themselves and pursue their creative ambitions.

Fearless Energy Drink’s participation in Felabration builds on its growing relationship with the festival and its celebration of fearless creativity. In 2021, the brand presented a posthumous award to Fela at the Afrika Shrine in recognition of his courage, originality and contribution to African music.

In 2025, Fearless served as the festival’s exclusive energy drink sponsor, with its “Shakara, No Fear” campaign using talent challenges to showcase emerging performers and give them opportunities to reach wider audiences.

Through its continued association with Felabration, Fearless Energy Drink is strengthening its connection with music, youth culture and authentic self-expression.

As Felabration 2026 draws to a close, the message remains clear: the courage to be different is a powerful force for creativity. At a festival dedicated to the enduring legacy of Fela Anikulapo-Kuti, Fearless Energy Drink reaffirmed its support for those bold enough to express who they are.

NVIDIA Pledges $250 Million to Support UK AI Safety Research

noreply@blogger.com (BrandArena) — Wed, 14 Oct 2026 16:36:14 +0000

NVIDIA has pledged $250 million in computing resources over five years to support artificial intelligence (AI) safety research in the United Kingdom, helping researchers test advanced AI systems, strengthen security and develop safeguards as the technology becomes increasingly capable.

Announced on 14 October 2026, the commitment will provide $50 million in computing resources annually, accessible to British researchers through NVIDIA Cloud Partners based in the UK. The infrastructure is expected to be hosted within the country, although the company has yet to finalise its choice of providers, technical plans and commercial terms.

Most of the computing resources will be made available to the wider UK AI research community. The initiative will also support the British Open-Ended Learning and Discovery Lab (BOLD), the Science of Fundamental AI Research Lab (SOFAIR) and Imperial College London.

NVIDIA Targets the Risks of Agentic AI

The investment comes as AI development moves beyond chatbots and question-answering tools towards autonomous AI agents capable of planning tasks, using digital tools and taking actions with less direct human supervision.

Although these capabilities could unlock new applications, they also introduce security risks. AI agents could behave unpredictably, misuse access to digital tools or carry out actions their developers never intended.

Researchers are therefore seeking better ways to test these systems, monitor their behaviour and prevent harmful outcomes before they occur.

NVIDIA chief executive Jensen Huang said AI development must progress alongside safety measures.

“AI capability and safety must advance together,” Huang said. He added that the company’s commitment would give UK researchers the computing power needed to develop and test safeguards for increasingly powerful AI systems.

Three research initiatives will contribute to the programme. BOLD, led by the University of Oxford, explores how AI systems can learn, adapt and work alongside people. SOFAIR, led by University College London (UCL), investigates open-source AI architectures and approaches to making AI development more accessible. Imperial College London will focus on safety engineering and robotics.

The wider research programme will examine secure AI agents, open-model security and ways to reduce real-world threats. Researchers will also develop secure testing environments, reproducible research methods and benchmarks for evaluating AI safety.

The work may incorporate NVIDIA OpenShell, secure runtime software for AI agents, and the company’s Sentry reference design for agent monitoring. NVIDIA expects the research findings to help inform the development of safeguards across the wider computing ecosystem.

The commitment builds on NVIDIA’s existing partnerships with British research institutions, including its collaboration on the University of Bristol’s Isambard-AI supercomputer, which uses NVIDIA Grace Hopper Superchips.

UK Strengthens AI Safety and Governance Ambitions

The announcement supports the UK’s ambition to become a global leader in AI safety and governance. Although Britain does not host AI developers on the scale of leading US companies, it aims to influence how the industry evaluates and manages emerging risks.

The UK government has invested in AI evaluation through its AI Security Institute, which assesses the capabilities and risks of advanced AI systems. The country sees this work as an opportunity to help shape international approaches to AI safety, even as much of the industry’s development takes place elsewhere.

Growing concerns about AI agents have added urgency to these efforts. Companies such as Anthropic and OpenAI have disclosed cases of rogue or unintended AI behaviour, according to Reuters. Some industry figures have also warned that increasingly powerful AI systems could pose risks on a much larger scale.

UK AI Minister Kanishka Narayan welcomed NVIDIA’s commitment, saying the resources would help British innovators advance their research and develop AI systems that serve the public interest.

The pledge comes amid a wider debate over how governments and technology companies should manage the risks associated with artificial intelligence. As developers introduce increasingly capable systems, researchers face mounting pressure to establish effective testing methods and safety measures before deployment.

However, increased access to computing resources alone will not guarantee safer AI. Researchers must translate their findings into practical safeguards that developers can implement, while regulators and technology companies must determine how to measure safety and respond when systems behave unexpectedly.

NVIDIA’s five-year commitment provides British researchers with additional resources to address these challenges. Its long-term impact will depend on the discoveries generated by the programme and how effectively the wider AI industry adopts its findings.

Cascador, Sterling Bank Launch $200m SME Credit Backstop Fund in Nigeria

noreply@blogger.com (BrandArena) — Wed, 14 Oct 2026 16:27:39 +0000

Cascador and Sterling Bank have announced a $200 million SME Credit Backstop Fund aimed at expanding access to growth capital for Nigerian small and medium-sized enterprises (SMEs) ready to take on debt. The independent platform is designed to provide a credit-risk backstop to participating finance partners, with the potential to support up to $1 billion in outstanding lending.

The initiative follows the publication of Cascador’s white paper, The Multiplier Model, which examines the challenges limiting the growth of African businesses and highlights the importance of matching capital to the needs and maturity of individual enterprises.

Across sub-Saharan Africa, businesses rely more heavily on equity financing for investment than the global average, reflecting the limited availability of suitable debt financing. Only 22% of businesses in the region have a bank loan or line of credit, compared with the global average of 36%.

The SME Credit Backstop Fund seeks to address this financing gap by creating a structured pathway to larger, longer-term loans for businesses with established operations and growth potential that struggle to secure commercial debt.

“Nigeria is rich in entrepreneurial talent and innovation and yet their potential is constrained by lack of access to capital that matches where they are and what they are trying to achieve,” said Trish Thomas, CEO of Cascador. “The SME Credit Backstop Fund aims to transform potential into a reality by bringing the experience and capital of the ecosystem to create a practical route to debt for Nigerian businesses with proven traction. By sharing risk with lenders, and translating community trust into a bankable signal to lend, the fund can help more businesses access what they need to scale and create jobs.”

Cascador brings experience in identifying, supporting and investing in businesses with the potential to scale, while Sterling Bank contributes its lending infrastructure and credit-market expertise.

The fund will also bring together SME ecosystem partners, finance partners and backstop capital providers, including philanthropic funders, impact investors and development finance institutions. Through a shared risk model, the initiative aims to strengthen the guarantee reserve and mobilise additional lending to SMEs.

“At Sterling, the strength of this partnership lies in how it addresses lending risk across the entire financing journey,” said Obinna Ukachukwu, Group Executive, Sterling Bank. “Alongside the additional protection of the credit backstop, the initiative brings together businesses recommended by participating venture funds and studios that know these enterprises and have supported their development. This combines a stronger borrower pipeline with structured assessment and ongoing monitoring, giving us greater confidence to provide larger, longer-term loans. As a lending partner, we see the potential for this arrangement to bolster SME lending, helping proven businesses access the capital they need to scale.”

Sterling Bank is an innovation-led financial institution guided by the principle of impact capitalism, deploying capital to generate commercial returns while improving lives and expanding opportunities.

Its focus on the HEART sectors — Health, Education, Agriculture, Renewable Energy and Transportation — reflects its commitment to addressing Nigeria’s most pressing challenges and supporting business growth. The partnership reinforces the bank’s belief that Nigeria’s growth capital should be mobilised locally, informed by the country’s economic realities and designed to address its specific needs.

For SMEs, the model is intended to improve access to larger loans with longer repayment periods while reducing collateral and guarantee requirements. Finance partners will benefit from a pipeline of debt-ready businesses and a structured risk-sharing arrangement, while ecosystem partners will have a financing pathway for businesses that have progressed beyond early-stage support and are ready for commercial borrowing.

The fund’s financing model operates across four stages:

Business identification: SME ecosystem partners identify and nominate businesses that meet the fund’s debt-readiness standards.
Eligibility assessment and risk protection: The fund applies its own eligibility, guarantee and portfolio-risk standards, using artificial intelligence-powered underwriting and due diligence. Approved borrowers receive a defined credit backstop against losses.
Loan assessment and administration: Finance partners independently assess borrowers, approve and disburse loans, and remain responsible for servicing, monitoring and collections.
Access to growth capital: SMEs can initially access local-currency loans equivalent to $250,000, with longer-term financing structured around business cash flows and subject to lender approval. The fund aims to unlock loan sizes of up to $1 million when fully funded.

Iyinoluwa Aboyeji, Founding Partner of Future Africa, said, "Over the last 12 years, Future Africa has provided early-stage funding to over 100 companies, including a third of the continent's unicorns. Those early bets have taught us one thing: the future cannot be sustainably built on one layer of the capital stack. Equity must work with debt and long-term securities to provide builders with the capital they need to build the future. This is why we are so excited about the SME Credit Backstop Fund, and how it will enable more Nigerian businesses to access financing for the productive assets they need to create jobs."

The fund will operate through Riverwell Platform Holding Limited, a UK-owned, technology-enabled SME infrastructure platform, and Riverwell Platform Services Nigeria, with reserve capital held separately.

The Nigerian operating company will oversee partner coordination, business readiness, assessments, data collection, portfolio monitoring and reporting. A separate reserve company will hold and manage the capital supporting the credit backstop.

Ukachukwu will also serve as a director on the Riverwell platform, bringing Sterling Bank’s banking expertise to support financing structures, credit-risk oversight and portfolio monitoring.

The fund builds on a catalytic financing structure piloted over the past two years by Cascador, acting as nominator and guarantor, and Sterling Bank, acting as lender. The new initiative will be independently managed to promote sustainability and financial discipline while allowing participation from a broader range of ecosystem partners.

The SME Credit Backstop Fund also builds on Cascador’s track record as an active investor in Africa and its work supporting entrepreneurs with the potential to transform Nigeria’s economy.

Since 2019, Cascador has supported 80 ventures that have collectively raised more than $150 million in capital. In 2025 alone, businesses in its alumni network delivered essential products and services to more than 1.7 million customers and directly employed almost 4,000 people.

BIGI Supports Emerging Music Talent at FUNAAB Through Soundcity OnTour 2026

noreply@blogger.com (BrandArena) — Wed, 14 Oct 2026 08:43:29 +0000

Fadina Segun Samson, popularly known as SEGZY, has won the BIGI Music Competition at the Federal University of Agriculture, Abeokuta (FUNAAB), during the 2026 edition of Soundcity OnTour, as emerging Nigerian artistes showcased their talents in a three-day celebration of music and entertainment.

SEGZY emerged winner ahead of Olawumi David, known as Dayvo, who finished as first runner-up, while Adebayo Moyinoluwa, known as Sourde, placed third. The competition featured a reported ₦1 million prize pool, rewarding emerging performers while providing an opportunity to showcase their music and gain wider recognition.

Held from 7 to 9 October, the FUNAAB leg of Soundcity OnTour 2026 featured music, dance, games and interactive activities, culminating in a concert that placed student performers and campus entertainment at the forefront. BIGI and Fearless Energy Drink, brands of Rite Foods Limited, sponsor the tour.

The regional finals also highlighted the musical talent emerging from Nigerian tertiary institutions. Taiwo Oladapo Opeyemi, known as T.Boss, of Yaba College of Technology (YABATECH), secured first place, while SEGZY of FUNAAB finished second. Alabi David, known as The Vyine, of the University of Ibadan, came third.

The results underscore the depth of musical talent across Nigerian campuses and the opportunities available when young performers are given platforms to compete, connect with audiences and pursue their ambitions beyond the classroom.

Speaking on the importance of supporting emerging artistes, Biola Aransiola, Brand Manager at BIGI, said the competition reflects the need to create opportunities for young people to express themselves and develop their talents.

“There is no shortage of talent on Nigerian campuses. What matters is creating platforms where young artistes can be heard, recognised and encouraged to go further. Seeing them step up and earn their moment in the spotlight is what makes this initiative worthwhile,” Aransiola said.

The FUNAAB event forms part of Soundcity OnTour 2026, sponsored by BIGI and Fearless Energy Drink, which is expanding its nationwide campus entertainment and talent discovery initiative to 20 institutions. The programme debuted across 10 campuses in 2023.

The tour combines music competitions, dance challenges, interactive experiences and live concerts, bringing brands and young audiences together through entertainment while providing a platform for discovering and promoting emerging talent.

For Rite Foods Limited, the Nigerian food and beverage company behind BIGI Carbonated Soft Drinks, Fearless Energy Drink, BIGI Premium Drinking Water, Sosa Fruit Drink, a range of sausage products and the recently launched LIDA malt, the initiative offers an opportunity to connect with young Nigerians while supporting the creativity shaping contemporary music and youth culture.

Following the conclusion of the FUNAAB competition, Soundcity OnTour 2026 is set to continue in Kwara State, where students at Kwara State University will have another opportunity to showcase their musical abilities and pursue their ambitions in the entertainment industry.

Helios Sports and Entertainment Group Targets Africa’s $20bn Sports Economy

noreply@blogger.com (BrandArena) — Wed, 14 Oct 2026 08:41:09 +0000

Nigeria’s sports economy is attracting increased commercial interest, with more than ₦50 billion in private-sector investment flowing into the sector in 2025 as global demand for African sports and entertainment grows alongside the continent’s young, digitally connected population and rising pool of athletic talent.

Across Africa, the sports economy is projected to reach $20 billion by 2035. Following growth of 2.8 per cent in 2023, the market is expected to more than double by 2028, placing it among the world’s top three regions for sports industry growth, according to PwC’s Global Sports Survey.

The continent’s expanding youth population and growing appetite for diverse sports and entertainment content are creating favourable conditions for long-term industry development.

However, Africa’s sports and entertainment sector remains largely underfunded, with limited investment in infrastructure, talent development and intellectual property. This funding gap also constrains employment opportunities, particularly for young people.

Helios Investment Partners aims to address these challenges through its Helios Sports and Entertainment Group (HSEG), combining capital, industry expertise and regional networks to scale commercially viable businesses and support capacity building and skills development across Africa’s sports and entertainment industries.

HSEG is Helios’ investment strategy focused on developing Africa’s sports and creative sectors. Its investments span sports intellectual property, talent, entertainment, venues and arenas, with interests in Professional Fighters League (PFL) Africa, NBA Africa, Zaria Group and The Malachite Group.

PFL Africa illustrates how sustained private-sector investment can help establish long-term sports platforms on the continent. Launched in 2024 as a joint venture between HSEG and the Professional Fighters League, the world’s second-largest mixed martial arts (MMA) league, PFL Africa extends the organisation’s global network into the African market.

The league is the first international MMA competition to establish a permanent presence in Africa, focusing on developing local talent, expanding audiences and creating pathways for African fighters to compete on the global stage.

In June 2026, PFL Africa staged its first Nigerian event at the Eko Convention Centre in Lagos. The event marked what was described as the largest MMA event in West African history, featuring eight Nigerian fighters, including Wasi Adeshina and Patrick Ocheme.

The competition gave local athletes the opportunity to compete in an international professional league on home soil. It also brought together key elements of the sports ecosystem required to establish an international sports property, including athletes, operational partners, live audiences and local activations.

Beyond PFL Africa, HSEG’s portfolio reflects a broader strategy to develop the infrastructure, intellectual property and commercial opportunities underpinning Africa’s sports and entertainment economy.

NBA Africa manages the NBA’s business operations and intellectual property across the continent, while Zaria Group develops and manages sports and entertainment-led venues and infrastructure. The Malachite Group, meanwhile, creates global content and live experiences through brands including Afro Nation.

Together, these businesses give HSEG exposure to companies positioned to benefit from growing global demand for African talent and the expansion of the continent’s domestic media market.

“Helios has for over two decades exclusively focused on harnessing the wealth of investment opportunities in Africa, generating both competitive returns and real socio-economic impact. Helios Sports and Entertainment Group is a demonstration of our unwavering passion for Africa and its people and the continuation of the Helios investment strategy, creating unique investment opportunities in sports and entertainment across a broad spectrum, from seeding start-ups to providing companies with growth capital and expertise,” said Tope Lawani, Co-Founder and Managing Partner, Helios Investment Partners LLP.

As international interest in African sports and entertainment continues to rise, investment in the platforms, infrastructure and businesses needed to sustain that growth is becoming increasingly important. Through HSEG, Helios Investment Partners is positioning itself to capitalise on the continent’s expanding sports economy while supporting the development of commercially sustainable opportunities across the sector.

Alpha Morgan Bank Relocates Head Office to Lagos, Signals New Phase of Growth

noreply@blogger.com (BrandArena) — Wed, 14 Oct 2026 07:52:31 +0000

Alpha Morgan Bank Limited has relocated its head office from 44 Adetokunbo Ademola Crescent, Wuse II, Abuja, to 52 Adetokunbo Ademola Street, Victoria Island, Lagos, marking a new phase in the bank’s growth and nationwide expansion.

The relocation follows a series of milestones, including the expansion of its branch network across several cities. Within its first 10 months of operations, the bank recorded a profit before tax (PBT) of ₦1.9 billion and exceeded its capitalisation threshold, reflecting strong early growth.

Beyond its financial performance, Alpha Morgan Bank continues to invest in its workforce through inclusive recruitment, support local communities through its corporate social responsibility initiatives, and promote economic knowledge sharing through the quarterly Alpha Morgan Economic Review webinar featuring Bismarck Rewane.

Commenting on the relocation, the Managing Director and Chief Executive Officer, Mr Ade Buraimo, said “The relocation of our Head Office from Adetokunbo Ademola, Abuja to Adetokunbo Ademola, Lagos is unique and exciting, representing an important step in our growth journey. Our achievements so far reflect the dedication of our people, the trust of our customers and our commitment to building a strong, accessible and sustainable financial institution.’’

Buraimo also thanked the Central Bank of Nigeria (CBN) for its continued support to the bank and expressed appreciation to the board, management and entire staff for their contributions to its progress.

Alpha Morgan Bank said it remains committed to strengthening its nationwide presence, deepening customer relationships and creating lasting value for the communities it serves.

AREWA24 Launches ‘Uwa Da Da’ TV Show to Tackle Infant Mortality in Northern Nigeria

noreply@blogger.com (BrandArena) — Wed, 14 Oct 2026 07:49:02 +0000

AREWA24, a Hausa-language family entertainment and lifestyle television network in Nigeria, has launched a new programme, ‘Uwa Da Da’, aimed at improving maternal, newborn and child health and helping to reduce infant mortality across northern Nigeria.

The programme, which premiered on Saturday, 3 October 2026, focuses on mothers, babies and the critical journey from pregnancy through childbirth and early childhood. It airs every Saturday from 7pm to 7.30pm on the AREWA24 television network.

The launch comes amid persistent maternal, newborn and child health challenges in Nigeria, particularly in northern communities, where mortality rates remain high.

According to the 2023–24 Nigeria Demographic and Health Survey (NDHS), Nigeria recorded an infant mortality rate of 63 deaths per 1,000 live births, while neonatal mortality stood at 41 deaths per 1,000 live births. Earlier NDHS data also showed an under-five mortality rate of 187 deaths per 1,000 live births in the North-west, compared with 62 per 1,000 in the South-west.

Speaking on the programme’s objectives, Aisha Lawal, AREWA24’s Director of Studio Production, said: “For many women, pregnancy and motherhood can be accompanied by uncertainty, fear and misinformation. Uwa Da Da places particular emphasis on supporting first-time mothers by providing clear, practical, and culturally relevant information to help them understand what to expect before, during, and after childbirth. The show will create a platform where mothers can hear directly from qualified health professionals and other mothers, while learning about important issues including pregnancy nutrition, antenatal care, birth preparedness, breastfeeding, newborn danger signs, immunization and postnatal wellbeing.”

Uwa Da Da seeks to use television’s reach and accessibility to provide practical health information that enables mothers to make informed decisions about their wellbeing and that of their babies.

A key objective of the programme is to encourage pregnant women, particularly expectant and first-time mothers, to begin antenatal care (ANC) early in pregnancy and maintain regular contact with qualified healthcare professionals throughout pregnancy.

The Chief Executive Officer of AREWA24 TV Network, Celestine Umeibe, said: “Uwa Da Da (“Mother and Child”), reflects AREWA24’s commitment to producing content that informs, educates and entertains while addressing issues that directly affect families and communities across Northern Nigeria and beyond.

“The program combines human-interest stories, expert advice, practical demonstrations and conversations with mothers and families to make maternal and newborn health information engaging, relatable and actionable. The goal of the “Uwa Da” is not to replace professional healthcare, but to encourage mothers and families to seek, understand and use available healthcare services at the right time,” he said.

Through Hausa-language conversations, real-life stories and expert-led discussions, the programme will seek to demystify pregnancy and childbirth while reinforcing the importance of early antenatal care and attendance at recommended appointments.

It will also educate mothers and families on following professional medical advice, recognising pregnancy and newborn danger signs, seeking urgent medical attention when necessary, and keeping up with newborn immunisation and other recommended healthcare services.

By combining culturally relevant communication with expert guidance, AREWA24 aims to make essential maternal and newborn health information more accessible to families across northern Nigeria.

Fearless Energy Drink Returns as Sponsor of Felabration 2026

noreply@blogger.com (BrandArena) — Wed, 14 Oct 2026 07:42:49 +0000

Fearless Energy Drink, a brand of Rite Foods Limited, has returned as the official energy drink sponsor of Felabration 2026, reaffirming its commitment to promoting creativity, individuality and self-expression among young Nigerians.

The festival, scheduled to hold from October 12 to 18 at the New Afrika Shrine in Ikeja, Lagos, celebrates the legacy of Afrobeat pioneer Fela Anikulapo-Kuti. This year’s theme, “Who Are You?”, highlights the individuality, creativity and bold expression that defined Fela’s life and continue to shape Nigerian music and culture.

Known for challenging convention and using music to amplify ideas, Fela embodied the spirit of originality and fearless self-expression that Fearless Energy Drink seeks to promote. Through its participation in Felabration 2026, the brand aims to encourage consumers to embrace their uniqueness, express themselves confidently and stand out without fear.

For Fearless, the festival goes beyond celebrating a music legend. It provides an opportunity to create platforms where emerging talents can showcase their abilities, connect with audiences and experience the excitement of live entertainment.

The brand will bring this vision to life through two talent-focused activations. On Tuesday, October 13, the Fearless Rap Challenge will invite aspiring rappers to demonstrate their lyrical skills, take the microphone and compete for rewards. The excitement will continue on Friday, October 16, with the Fearless Dance Challenge, giving dancers an opportunity to showcase their signature moves.

Both activations will feature consumer rewards, building anticipation towards the festival’s grand finale on Sunday, October 18.

Speaking on the sponsorship, Adeniyi Aderuku, Brand Manager, Fearless Energy Drink, said the brand’s participation reflects its commitment to celebrating young Nigerians’ creativity and individuality.

“Fela challenged people to think differently, speak boldly, and stand for what they believe in. At Felabration, Fearless is creating opportunities for people to express themselves, showcase their talent, and be part of an experience that celebrates originality. It is about giving people the confidence and platform to show the world who they are,” Aderuku said.

Fearless Energy Drink’s return builds on its growing association with Felabration. In 2021, the brand presented a posthumous award to Fela at the Afrika Shrine in recognition of his courage, originality and contribution to African music.

In 2025, Fearless Energy Drink served as the festival’s exclusive energy drink sponsor under its “Shakara, No Fear” campaign, featuring talent challenges that brought emerging performers into the spotlight.

The 2026 edition will once again bring together established artistes, rising performers and music enthusiasts to celebrate Afrobeat and its enduring cultural influence. The line-up includes Femi Kuti and The Positive Force, Made Kuti, and Seun Kuti and Egypt 80, among other performers.

For Rite Foods Limited, the sponsorship reflects its continued investment in platforms that connect its brands with consumers through music, entertainment and shared cultural experiences.

The company’s portfolio includes Fearless Energy Drink, Bigi Carbonated Soft Drinks, Bigi Premium Drinking Water, Sosa Fruit Drink, a range of sausage products and its recently introduced LIDA Malt.

As Felabration celebrates the enduring influence of a man who dared to be different, Fearless Energy Drink is inviting a new generation to find its voice, embrace individuality and take centre stage.

With rap and dance competitions, consumer rewards and live entertainment adding to the excitement, the brand is encouraging festival-goers to join the celebration and show the world who they are.

Meta, Google and Other Tech Giants Join Global Crackdown on West African Scam Networks

noreply@blogger.com (BrandArena) — Wed, 14 Oct 2026 07:39:11 +0000

Meta and 14 other leading technology companies have joined law enforcement agencies from 10 countries in a major operation to disrupt criminal scam networks operating in West Africa and targeting victims worldwide.

The operation resulted in the removal of more than 3.7 million accounts, pages and groups from Facebook and Instagram, the sharing of intelligence on more than 30 suspected scam centres, and the arrest of 28 individuals. Law enforcement agencies also confirmed the rescue of 117 people who had been trafficked and held against their will at scam centres in Ghana.

The operation marks the first coordinated disruption specifically targeting scam centres across West Africa and represents the largest initiative of its kind to date, as technology companies and law enforcement agencies intensify international cooperation against online fraud.

Meta, Coinbase, Google, Microsoft, OpenAI, Starlink, Adobe and other technology companies announced the results of the operation, which was hosted by the UK’s National Crime Agency (NCA) in London in partnership with the US Department of Justice, the Federal Bureau of Investigation (FBI) and several other American federal agencies.

The initiative brought together public and private sector partners to exchange intelligence, dismantle sophisticated criminal networks and strengthen efforts to protect people from online scams.

Unlike the large, highly industrialised scam compounds prevalent in Southeast Asia, criminal networks operating in Nigeria, Ghana and other West African countries are generally more decentralised. However, authorities warned that criminals continually seek new locations where they believe they can operate with limited risk of detection.

The operation highlighted the importance of coordinated action by law enforcement agencies, technology companies and governments to disrupt these networks wherever they emerge.

Among the key outcomes was Meta’s removal of more than 3.7 million accounts, pages and groups from Facebook and Instagram that were based in West Africa. Most appeared to target victims in the United States and the United Kingdom through profiles impersonating American and British users. Microsoft also suspended accounts suspected of being linked to the fraudulent activities.

In addition to the arrests and rescues, Coinbase proactively identified more than 65 active scam victims and prevented potential losses exceeding $415,000. Information shared during the operation also generated new investigative leads, strengthening the ability of participating platforms to detect and take enforcement action against criminal groups.

International Cooperation Targets Scam Networks

The operation began on Tuesday, October 6, when the NCA convened representatives of leading technology companies and law enforcement agencies at its London headquarters.

The NCA worked alongside the FBI, the US Department of Justice, Homeland Security Investigations and other American agencies, as well as law enforcement partners from Nigeria, Ghana, Australia, Canada, New Zealand and India.

The opening session included remarks from law enforcement leaders, including Jeanine Pirro, US Attorney for the District of Columbia and leader of the US Department of Justice Scam Center Strike Force. Other participating American agencies included the US Secret Service, the US Department of the Treasury and the Homeland Security Task Force.

Over the following days, participating teams exchanged actionable intelligence to connect information across technology platforms, national jurisdictions and financial systems. The objective was to identify and disrupt criminal networks at multiple stages of the fraud process, from recruiting scammers and establishing digital infrastructure to identifying victims and tracing the movement of stolen funds.

Although most of the identified schemes targeted people in the United States, victims in the UK and other countries were also affected.

The operation also exposed the human cost of these criminal enterprises. Authorities confirmed that 117 people trafficked into Ghana had been forced to work in scam compounds operated by criminal syndicates.

The victims were rescued from imprisonment in a residential compound, where they had reportedly suffered malnutrition and physical and psychological abuse at the hands of their captors. Those responsible were arrested and are facing prosecution.

Seven Types of Fraud Identified

The coordinated operation identified and disrupted several forms of fraud linked to the criminal networks.

These included investment scams, in which criminals establish fake romantic or professional relationships before persuading victims to invest in fraudulent schemes, including cryptocurrency-related investments.

Job and task scams involved fake employment offers or online assignments designed to trick victims into paying upfront fees or transferring money.

Other schemes included law enforcement impersonation scams, in which criminals pose as police officers or government officials to extort money, and military impersonation scams, where fraudsters impersonate military personnel to gain victims’ trust and solicit funds under false pretences.

Non-delivery scams involved sellers accepting payment for goods or services that were never provided, while romance scams relied on fabricated relationships to manipulate victims into sending money.

The operation also targeted scam recovery fraud, in which people who had previously lost money to scammers were approached with false promises of recovering their funds in exchange for an upfront payment, only to be defrauded again.

Meta Pledges Continued Action Against Online Scams

Chris Sonderby, Vice President and Deputy General Counsel at Meta, said the operation demonstrated the importance of international cooperation in tackling online fraud.

“Scams are a global threat that demand a global response. Last week, working with the UK National Crime Agency, the FBI, DOJ, and the Homeland Security Task Force, we took the fight to scam centers across West Africa. As part of the disruption, we removed more than 3.7 million accounts, Pages and Groups targeting people in the US, UK, and beyond, and shared leads on over 30 suspected scam centers resulting in dozens of arrests, the rescue of trafficking victims, and cryptocurrency seizures. This operation shows what partnership makes possible, and we’ll keep working with law enforcement and industry to pursue scammers wherever they operate.”

Nick Sharp, Deputy Director of Fraud at the National Crime Agency, said cooperation between law enforcement and technology companies had helped authorities target criminals responsible for widespread harm.

“Fraud is a global problem and it takes partnership working across international boundaries to tackle it. Hosting such a rich and dedicated team of law enforcement and technology companies at NCA’s headquarters enabled us to utilize the power of partnerships and strike back at a significant set of criminals who inflict misery on thousands of victims of fraud. Fraudsters can operate from anywhere and will target victims both domestically and globally. The NCA will continue to work with international and private sector partners to tackle fraudsters working upstream, overseas, and online. Collaborating in this way sends a clear signal to criminals that the combined capabilities of law enforcement and industry means that we will relentlessly pursue them and the infrastructure they rely on no matter where they operate.”

FBI Director Kash Patel highlighted the operation’s wider impact, including arrests, seizures and efforts to identify funds potentially linked to criminal activities.

“Thanks to brilliant partnership with the Department of Justice and the private sector, across multiple African countries, we arrested dozens of criminal actors, seized hundreds of devices, identified at least $11 million in potentially freezable funds, and truly saved lives. This is what happens when law enforcement executes with precision across the interagency. We are demolishing Scam Centers across the globe and crushing a criminal industry preying on American citizens.”

Jeanine Ferris Pirro, US Attorney for the District of Columbia and founder of the Scam Center Strike Force, said international cooperation was essential to prosecuting criminals operating across borders.

“Transnational fraud demands a transnational response. I have partnered with the NCA and the Crown Prosecutor for England and Wales to push forward cases on both sides of the Atlantic; criminals are not hindered by borders, and neither are we. We will deploy our team wherever in the world transnational criminals target innocent victims.”

Lord Hanson, the UK Minister for Fraud, said overseas criminal networks were responsible for many scams targeting the British public and stressed the importance of coordinated enforcement.

“Criminal gangs operating overseas are behind most of the scams targeting the British public. That is why these multi-agency operations are critical, and my thanks go to all the officers involved in intercepting and arresting these scammers. Our new Online Crime Centre will build on this work to dismantle criminal networks and bring offenders to justice, wherever in the world they might be.”

Chainalysis also highlighted the growing sophistication of international fraud networks and the need to identify criminal infrastructure before victims lose money.

“Fraud networks now run at industrial scale, using AI to target victims and move proceeds across chains faster than any manual process can follow. Effective disruption means more than victim reporting and tracing funds after the fact; it means identifying scam infrastructure early enough to prevent losses. Chainalysis is proud to contribute that capability alongside public and private sector partners to hold these criminal organizations accountable.”

African Marketplace Dubai 2026 Opens to Boost African SMEs’ Global Export Opportunities

noreply@blogger.com (BrandArena) — Mon, 12 Oct 2026 16:56:12 +0000

African Marketplace (AMP) Dubai 2026 has opened at Conrad Dubai with a call to turn Africa’s small and medium-sized enterprises (SMEs) into a global export powerhouse, highlighting the vast, largely untapped commercial potential of businesses that account for 90 per cent of the Afro-Caribbean productive sector.

Founded by Mrs Ibukun Awosika, African Marketplace aims to bridge the gap between African and Caribbean entrepreneurs and international markets by connecting businesses with global buyers, strategic partners and the wider Dubai business community.

Running from 10 to 12 October 2026, the three-day exhibition provides a global platform for showcasing products, services, technology, innovations and creative enterprises from across Africa and the Caribbean, opening up opportunities for market access, partnerships and international trade.

Mrs Ibukun Awosika was joined by Walid Hareb AlFalahi, Founder and Chief Executive Officer of UAE Trade Centre; Grace El Mahmoud Marabe, Consul General of Ghana to Dubai; and Janice Costa, Project Manager and Events and Partnerships Leader at the African Export-Import Bank (Afreximbank), to officially open the exhibition with a ribbon-cutting ceremony.

“Ninety percent of our productive sector sits in the SME space, and that is where the value is. The world just does not know it yet. Our job is to unlock these businesses as an export machine and take them to the global stage. Last year, visitors asked us if these products were really made in Africa. They are. When people see them and hold them, the doubt goes. That is why we are in Dubai,” said Mrs Ibukun Awosika, Founder of African Marketplace and the Ibukun Awosika Leadership Academy (IALA).

Her remarks underscored the importance of improving the visibility of African-made products, building international buyer confidence and creating opportunities for SMEs to compete in global markets.

H.E. Walid Hareb AlFalahi said interest in African products in Dubai was growing, describing this year’s exhibition as a significant improvement on its inaugural edition.

“Market entry takes persistence. From last year to this year, I see a major improvement. There is real interest in African products here, and this can grow bigger,” he said.

He also called for greater participation from the women's community and the Dubai Chamber of Commerce to strengthen the platform's reach and commercial impact.

The Dubai Department of Economy and Tourism (DET) is the key strategic partner for African Marketplace Dubai 2026.

Afreximbank, which has supported the organisers since the exhibition's inaugural edition in 2025, is a strategic partner and key sponsor. The Development Bank of Nigeria (DBN) is participating as a partner for the first time this year, supporting selected exhibitors to attend the event.

Other supporters include FCMB, Emadeb Energy and Senator Daisy Danjuma.

African Business Heroes, a Jack Ma initiative that has spent seven years supporting the development of African entrepreneurs, is also represented at the exhibition, with some of its past winners showcasing their businesses.

African Marketplace Dubai 2026 runs from 10 to 12 October at Conrad Dubai, bringing together entrepreneurs, buyers, investors and business leaders to strengthen commercial connections and expand export opportunities for African and Caribbean businesses.

Global Advertising Spend to Hit $1.34 Trillion in 2026 Despite Consumer Caution, WARC Forecasts

noreply@blogger.com (BrandArena) — Sun, 11 Oct 2026 11:01:58 +0000

Global advertising expenditure is forecast to grow by 11.9% to $1.34 trillion in 2026, despite mounting cost-of-living pressures and cautious consumer spending, according to the latest WARC Media Global Ad Spend Forecast.

The forecast, released on 8 October 2026, follows consecutive annual growth of 10.0% in 2024 and 2025. Advertising investment continues to rise amid geopolitical uncertainty, supported by substantial corporate investment in artificial intelligence (AI) and major events, including the Olympics, FIFA World Cup and US mid-term elections.

However, WARC warned that further escalations in global tensions could pose downside risks to the advertising market, despite the economy's resilience so far.

Suzy Young, Head of WARC Media Data, says: "These are unusual times for advertising. Investment is accelerating even as many consumers face cost-of-living pressures and become more cautious with spending. This apparent contradiction reflects an increasingly uneven economy, where growth – particularly from the AI boom – is benefiting some companies, sectors and consumers more than others."

Social Media Leads Global Advertising Growth

Social media is expected to record the strongest growth among major advertising channels in 2026, with spending projected to increase by 21.3% to $394.6 billion. The channel is on course to surpass $500 billion in advertising expenditure by 2028.

Social media, search and retail media remain among the largest destinations for advertising investment. Combined, the three channels are expected to account for 66.4% of global advertising spend in 2026, rising to 70.0% by 2028.

Other digital advertising channels are also projected to record double-digit growth this year. Video-on-demand (VOD) advertising is forecast to rise by 15.1% to $48.4 billion, while retail media spending is expected to increase by 14.3% to $202.1 billion.

Search advertising is projected to grow by 14.2% to $295.7 billion, while digital out-of-home (OOH) advertising is expected to increase by 13.7% to $21.7 billion.

According to WARC, performance-driven advertising channels continue to benefit from their ability to respond quickly to changing market conditions as businesses adapt to persistent economic uncertainty.

Technology, Travel and Automotive Drive Advertising Growth

Technology and electronics is forecast to be the fastest-growing product category for advertising in 2026, with spending expected to rise by 20.7% compared with 2025.

Travel and transport follows with projected growth of 19.3%, while automotive advertising expenditure is expected to increase by 17.8%.

Social media is expected to capture 40.2% of total advertising spending by technology and electronics companies in 2026, underlining the channel's growing importance to brands competing for consumer attention.

Global Advertising Growth to Moderate in 2027

WARC expects global advertising expenditure growth to slow to 8.4% in 2027, taking total spending to $1.46 trillion. The moderation reflects tougher year-on-year comparisons and a return towards more normal growth following the exceptionally strong performance of recent years.

The market is forecast to expand by a further 7.9% in 2028, reaching $1.57 trillion. This would make global advertising expenditure approximately 2.3 times its 2019 level.

Artificial Intelligence Creates New Advertising Opportunities

Artificial intelligence is increasingly shaping global advertising growth, both as a driver of corporate investment and as a tool for improving campaign performance.

New technology businesses are spending heavily on advertising to acquire customers and establish their brands, while established companies are increasing investment to remain competitive in an increasingly crowded marketplace.

At the same time, AI-powered tools are improving audience targeting, creative asset production and campaign optimisation, helping advertisers enhance returns on investment and supporting further spending.

Generative search and AI assistants are also creating new opportunities for advertising. As consumers increasingly use these technologies to discover products and make purchasing decisions, advertising investment is expected to follow, potentially reshaping how audiences encounter brands and how businesses allocate their marketing budgets.

Alphabet, Amazon and Meta Strengthen Advertising Dominance

Alphabet, Amazon and Meta are expected to account for a combined 59.7% of global advertising expenditure outside China in 2026, equivalent to $659.6 billion.

Their combined share is projected to increase to 61.5% in 2028, when their advertising revenues are expected to reach $804.1 billion.

The forecast highlights the growing concentration of advertising investment among major digital platforms, as businesses continue to prioritise channels that offer extensive audience reach, targeted advertising and measurable campaign performance.

Advertising Spending Highlights Global Market Differences

Advertising expenditure per capita continues to vary significantly across global markets, reflecting differences in economic development, consumer spending power and advertising investment.

The United States is forecast to record the highest spending among the markets highlighted by WARC, at $1,395 per capita in 2026. The United Kingdom follows at $935, while Austria and Switzerland are projected to record $850 and $825 per capita, respectively.

By comparison, advertising expenditure per capita is forecast at $170 in China, $110 in Brazil and just $13 in India.

Despite their lower per-capita spending, China, Brazil and India have substantial consumer populations, presenting considerable opportunities for advertising growth as their economies and consumer markets develop.

The projections point to an advertising industry undergoing significant transformation, with digital platforms, artificial intelligence and performance-led marketing continuing to shape investment decisions even as economic pressures influence consumer behaviour.

SKOT Impact Academy Launches Third Cohort to Develop Africa’s Communications Talent

noreply@blogger.com (BrandArena) — Sun, 11 Oct 2026 10:56:26 +0000

SKOT Impact Academy, the social impact learning programme of SKOT Communications for early-career public relations and communications professionals, has commenced its third six-week, intensive, tuition-free training programme on 10 October 2026.

Since its launch, the Academy has expanded from an initial cohort of 40 participants to a growing learning community. The second cohort welcomed 60 participants through a hybrid learning model, combining in-person training with virtual participation from Nigeria, Kenya and the United Kingdom.

The programme has received more than 1,300 applications across its three cohorts, reflecting sustained interest in accessible professional development opportunities within the communications industry.

For the third cohort, SKOT Impact Academy received more than 450 applications from Nigeria and other countries. Applicants represented 14 countries, including Kenya, South Africa, Ghana, Uganda, Pakistan, Rwanda, Zimbabwe, Ethiopia, Indonesia, Malawi, Bangladesh, Nepal, Tanzania and The Gambia.

Speaking on the commencement of the third cohort, Tokunboh George Taylor, Founder and CEO of SKOT Communications, said the Academy’s growth reflects both the depth of talent within the communications ecosystem and the need for greater investment in developing that talent.

“When we launched SKOT Impact Academy, we knew there was a need for more accessible and practical pathways into the communications profession. As we begin our third cohort, we see clear evidence of both the demand for this kind of opportunity and the depth of talent that exists within our industry.

But to us at SKOT, the impact and growth of the Academy is not simply about numbers. It is about the people and careers we are able to influence and the contribution they will go on to make to our industry. As the Academy grows, our ambition is to reach more people, deepen the quality and relevance of the programme, and extend its impact across Africa and beyond. We believe this is only the beginning of what SKOT Impact Academy can become.”

The Academy’s growing reach comes as the communications profession continues to evolve amid rapid changes in business, media and digital technology. Today’s communications professionals are expected to go beyond media relations and storytelling to navigate reputation management, crisis communications, digital platforms, emerging technologies, industry trends and increasingly complex stakeholder expectations.

They must also understand how strategic communications supports wider organisational objectives, making practical skills and industry knowledge increasingly important for career development.

SKOT Impact Academy’s tuition-free model seeks to remove the financial barriers associated with professional training, while its intensive curriculum introduces participants to the practical demands of public relations and strategic communications.

The programme complements formal education with practical knowledge, industry exposure and opportunities to learn from experienced communications professionals.

For the Academy, developing the next generation of communications talent involves more than transferring knowledge. It also requires creating an environment where early-career professionals can develop practical skills, professional judgement and confidence alongside a solid understanding of communications principles.

As it enters its third cohort, SKOT Impact Academy’s expanding community of participants and alumni represents an emerging talent pipeline with the potential to contribute meaningfully to the communications industry across Africa and beyond.

Through each cohort, the Academy continues to advance its ambition to make quality professional development more accessible while helping to build a stronger, more practical and better-equipped generation of communications professionals.

NGX Loses N1.58trn as Investors Sell Off Stocks Ahead of Q3 Earnings

noreply@blogger.com (BrandArena) — Sun, 11 Oct 2026 10:54:43 +0000

The Nigerian Exchange (NGX) recorded a N1.58 trillion week-on-week decline in market capitalisation as weak buying interest and renewed sell-offs in selected stocks weighed on equities ahead of third-quarter (Q3) earnings releases.

The local bourse closed the week in negative territory, reflecting subdued investor sentiment and selling pressure across several sectors of the market.

The All-Share Index (ASI), the benchmark indicator of the Nigerian equities market, fell by 0.97 per cent week-on-week to close at 248,363.55 points. Market capitalisation also declined by approximately N1.58 trillion to N161.26 trillion.

Despite the downturn, the market's year-to-date (YTD) return moderated to 59.60 per cent, remaining ahead of the country's consumer price index, a key measure of inflation.

Market sentiment remained weak, with market breadth closing negative at 54 decliners against 23 advancers. This translated to a breadth ratio of 0.43x, indicating that declining stocks significantly outnumbered those that recorded gains.

Trading activity presented a mixed picture during the week. According to market data, the number of deals and transaction value increased by 1.65 per cent and 2.14 per cent week-on-week, respectively, while trading volume fell by 14.22 per cent.

Investors exchanged 2.72 billion shares valued at N158.42 billion in 210,385 deals during the period, according to Cowry Asset Securities Limited's market update.

Sectoral performance on the Nigerian Exchange was largely negative, with four of the five major sectors recording losses amid widespread selling pressure.

The performance highlighted persistent investor caution, particularly in the oil and gas and banking sectors. Meanwhile, the marginal gain recorded by industrial goods stocks suggested selective buying interest rather than a broad-based market recovery.

The oil and gas sector led the market's decline, shedding 3.85 per cent as losses in ARADEL and ETERNA outweighed a 4.00 per cent gain in OANDO.

The banking sector followed, falling by 2.64 per cent, driven by losses in FIDELITYBK, FIRSTHOLDCO and GTCO, despite a marginal gain in ZENITHBANK.

The insurance sector declined by 1.74 per cent, as losses in MANSARD and CONHALLPLC outweighed significant gains in GUINEAINS and REGALINS.

Similarly, the consumer goods sector shed 0.58 per cent, pressured by declines in NESTLE, HONYFLOUR and UNILEVER. Gains in MULTITREX and DANGSUGAR provided some support but were insufficient to reverse the sector's negative performance.

In contrast, industrial goods was the only sector to close in positive territory, edging up by 0.02 per cent. Strong performances by TRIPPLEG and CAP offset a decline in CUTIX, allowing the sector to record a marginal gain despite the broader market downturn.

J.P. Morgan to Launch Merchant Bank in Nigeria Before End of 2026

noreply@blogger.com (BrandArena) — Sun, 11 Oct 2026 10:47:46 +0000

Global financial services giant J.P. Morgan has announced plans to establish a dedicated merchant bank in Nigeria, with operations expected to begin before the end of 2026, subject to final regulatory approval.

Dapo Olagunji, Managing Director of J.P. Morgan West Africa, disclosed the plan during the Nigeria Asia Financial Connectivity Dialogue in Singapore. The high-level forum was jointly convened by the Central Bank of Nigeria (CBN), J.P. Morgan, the Nigerian Exchange Group (NGX) and FMDQ Group to showcase emerging investment opportunities in Africa’s largest economy.

The planned establishment of the merchant bank represents a significant expansion of J.P. Morgan’s presence in Nigeria. Although the global banking group has maintained a representative office in Lagos for decades to serve corporate and institutional clients, a dedicated merchant banking licence would enable it to provide a broader range of institutional financial services directly within the country.

These services are expected to include corporate advisory, underwriting, treasury solutions, asset management and institutional banking, strengthening the firm’s capacity to support Nigerian businesses and investors.

The move also comes amid efforts by the Nigerian government and the CBN to implement financial and macroeconomic reforms aimed at improving investor confidence, foreign exchange liquidity and access to international capital.

Speaking at the forum, CBN Governor Olayemi Cardoso emphasised that foreign investor interest in Nigeria is returning as a result of fundamental structural adjustments.

Nigeria’s gross external reserves recently reached a reported peak of $55.07 billion, while net reserves rose above $46 billion. Financial analysts have also pointed to improvements in foreign exchange liquidity and market transparency following exchange rate reforms and initiatives to clear outstanding foreign currency obligations.

“The establishment of a full-scale merchant bank by an institution of J.P. Morgan’s stature signals that long-term institutional capital is viewing Nigeria with renewed optimism,” noted a Lagos-based investment analyst. “It bridges domestic corporate borrowers to global capital pools at a scale rarely seen in recent years.”

J.P. Morgan’s planned entry comes as Nigeria’s banking sector undergoes a recapitalisation exercise mandated by the CBN. By focusing on merchant banking rather than retail services, the firm would operate primarily in the institutional market, potentially complementing existing domestic financial institutions rather than competing directly for retail deposits.

Merchant banks differ from conventional commercial banks, which typically serve individuals and small businesses through deposit accounts, loans and retail banking services. Merchant banks concentrate on corporate and institutional clients, providing specialised financing, investment and advisory services.

J.P. Morgan’s proposed Nigerian operations are expected to focus on several areas.

Corporate debt and equity underwriting would help major Nigerian companies and government entities raise funds through domestic and international capital markets.

Mergers and acquisitions advisory services could support multinational transactions, cross-border joint ventures and infrastructure financing.

Structured finance and trade services could facilitate foreign direct investment, currency hedging and trade between West Africa and markets in North America, Europe and Asia.

Fixed-income and securities trading could also strengthen participation in Nigeria’s sovereign and corporate bond markets.

Nigeria’s capital market infrastructure has developed considerably, with platforms such as FMDQ Group and the NGX providing trading and clearing services across various financial instruments. J.P. Morgan’s proposed local presence could further connect Nigerian issuers to international investors, deepen market liquidity and expand access to global financing.

For Nigerian businesses, the establishment of the merchant bank could provide additional channels for raising capital, managing foreign exchange exposure and financing cross-border transactions. Its impact, however, will depend on the scope of its approved operations, market participation and the level of investor demand.

The proposed launch before the end of 2026 remains subject to final approval from the Central Bank of Nigeria. The licensing process will require compliance with applicable capital adequacy standards, risk management requirements and operational guidelines governing merchant banks.

If approved and launched as planned, J.P. Morgan’s merchant bank would mark a notable development in Nigeria’s institutional financial services market, potentially strengthening the country’s connections to international capital markets.

Moove to End Operations in Nigeria, Transfers ₦35bn Worth of Vehicles to Customers

noreply@blogger.com (BrandArena) — Sun, 11 Oct 2026 10:45:45 +0000

Moove, the global mobility company founded in Lagos, has announced plans to conclude its operations in Nigeria six years after its establishment, expressing gratitude to the customers, employees, partners and communities that supported its growth from a Nigerian start-up into an international business.

Founded in 2020 by Ladi Delano and Jide Odunsi, Moove was established to address the challenges faced by gig workers in Nigeria who wanted to earn a living through mobility services but lacked access to the vehicle financing needed to do so.

The company began operations in Lagos with 76 vehicles and developed its Rental and Drive-to-Own model to provide mobility entrepreneurs with access to new vehicles and a pathway to ownership.

The model laid the foundation for Moove's international expansion. The company now operates 42,000 vehicles across 29 cities globally.

Since its inception, Moove has served more than 9,000 customers through its Drive-to-Own and rental products in Nigeria, helping them generate approximately ₦57 billion in revenue and supporting livelihoods, families and businesses across the country.

As part of its exit from the Nigerian market, eligible vehicles with an estimated combined value of approximately ₦35 billion will be transferred into the full ownership of the customers currently operating them. Effective 1 October 2026, customers will not be required to make any further payments to Moove for the vehicles themselves.

The company will also reward all staff members with a free car as a gesture of appreciation for their contributions.

The initiative, tagged ‘Thank You Nigeria’, is Moove's way of recognising the customers, employees and wider community whose trust, expertise and support helped shape the company from its earliest days.

Ladi Delano, Co-Founder, Co-CEO and Advisory Board Chairman of Moove, said:

“Nigeria is where Moove began, and everything we have built since carries something of Lagos with it. Jide and I started the company because talented, hardworking mobility entrepreneurs wanted the opportunity to earn, but could not get access to the vehicles and finance they needed. Our first customers trusted us when Moove was still an idea, and that trust made everything that followed possible and for that we “thank you”.

“More than 9,000 customers have used our Drive-to-Own and rental products in Nigeria. Their work generated approximately ₦57 billion in revenue through Moove-financed vehicles. Those numbers matter because they represent people earning, supporting their families and building their own futures.

“This is an emotional moment for us. Nigeria gave Moove its beginning, its first customers and many of the people who built the foundations of our company. As we conclude our operations, we want our actions to reflect our gratitude. Eligible vehicles worth approximately ₦35 billion will pass into full ownership of the customers who operate them, with no further payment to Moove required for the vehicles themselves.

“To our Nigerian team, thank you. Your commitment, resourcefulness and belief in the mission carried Moove through its earliest and most important years. You turned an idea that began in Lagos into a company that now operates across 29 cities globally. Jide and I will always be grateful for what you have built and for the way you have represented Moove.

“To our customers, thank you for partnering with us and realising our collective ambitions. To our partners, regulators and the wider community, thank you for supporting a young Nigerian company and helping it grow into a global business.

“Nigeria will always be where Moove started. As we continue to grow internationally, we will do everything we can to make Nigeria proud and to build a lasting global success story that never forgets where it began. Wherever Moove goes next, our story will always start in Lagos.”

Moove said it would work directly with affected customers and employees as it concludes its Nigerian operations and completes the transfer of eligible vehicles.

The company's departure marks the end of its operations in the market where its vehicle financing model was first developed, while the transfer of eligible vehicles represents a significant part of its effort to recognise the contributions of the people who helped build the business.

Why Audi Discontinued A1 and Q2 in South Africa

noreply@blogger.com (BrandArena) — Sun, 11 Oct 2026 10:41:15 +0000

Audi is discontinuing the A1 hatchback and Q2 compact crossover in South Africa, ending the German luxury carmaker’s presence in the entry-level premium segment. The decision follows the end of global production for both models in April 2026, leaving local buyers with access only to remaining dealership stock.

The move reflects Audi’s broader strategy of focusing on larger, higher-margin premium vehicles. According to Audi chief executive Gernot Döllner, neither the A1 nor the Q2 will receive a direct successor, marking a significant change in the brand’s product strategy and its position in the South African market.

Audi A1: The End of a 15-Year Run in South Africa

The discontinuation of the Audi A1 brings a 15-year chapter to a close in South Africa. First introduced in 2011 as a three-door hatchback, the A1 provided a relatively accessible entry point into the premium car market.

At launch, the model was available with 1.2-litre and 1.4-litre TFSI petrol engines, alongside a 1.6-litre TDI diesel option.

Audi expanded the range in 2012 with the introduction of the five-door A1 Sportback, offering greater practicality for everyday driving. A facelift followed in 2015, bringing revised exterior styling, the removal of the diesel variant and the introduction of a 1.0-litre three-cylinder TFSI engine.

Despite its impending exit, the A1 remains listed on Audi South Africa’s online configurator, with the latest A1 Sportback 30 TFSI available in Advanced, S line and Black Edition specifications.

Prices for the remaining stock range from R530,900 to R593,390. However, availability is expected to end once dealerships sell their remaining units, permanently removing the A1 from Audi’s local line-up.

Audi Q2: The Compact Crossover's Final Chapter

The Audi Q2 joined the South African market in 2017 as the brand sought to capitalise on growing demand for compact SUVs and crossovers.

Positioned below the larger Q3, the Q2 differentiated itself through distinctive styling and a smaller footprint, appealing to buyers seeking a premium vehicle without moving into the larger SUV segment. It initially offered 1.0-litre and 1.4-litre TFSI petrol engines.

Following a mid-cycle facelift in 2021, Audi streamlined the South African range to focus exclusively on the Q2 35 TFSI, powered by a 1.4-litre petrol engine.

Like the A1, the Q2 will remain available only while existing dealership stock lasts. With no direct replacement planned, Audi is withdrawing another option for buyers seeking a smaller, more affordable vehicle from a premium brand.

Why Audi Is Leaving the Entry-Level Premium Segment

Audi’s decision to discontinue the A1 and Q2 reflects a broader shift in the automotive industry towards product rationalisation, profitability and changing manufacturing priorities.

Smaller vehicles can offer an accessible route into a premium brand, but their business case depends on production costs, sales volumes and profit margins. By concentrating on larger, higher-margin models, Audi is repositioning its portfolio towards more expensive vehicles rather than replacing its entry-level offerings.

The decision also comes amid wider changes in South Africa’s new-car market, where manufacturers have discontinued at least 28 models over the past two years as they reassess electric vehicle strategies, right-hand-drive production costs and local market viability.

Several manufacturers have already withdrawn established models or revised their local line-ups.

In the compact car and saloon segments, Kia discontinued the right-hand-drive Rio, Toyota ended sales of the long-running Corolla Quest, and Honda retired the Ballade. Lexus also removed the RC coupé from its South African range.

The SUV and crossover market has experienced similar changes. Honda replaced the WR-V with the Elevate and discontinued the BR-V, while Subaru replaced the XV with the Crosstrek. Suzuki also streamlined its SUV line-up, dropping the standard Vitara as it focused on models such as the Fronx and Grand Vitara.

In the commercial vehicle segment, Nissan discontinued its NP200 half-tonne bakkie, which faced challenges in meeting modern safety and emissions requirements. Volkswagen, meanwhile, dropped entry-level configurations of the Amarok.

These local market changes are taking place alongside broader global manufacturing shifts, including Jaguar’s planned transition towards an all-electric luxury vehicle portfolio.

What the Discontinuation Means for South African Buyers

The end of the Audi A1 and Q2 means buyers will have fewer options within the brand’s entry-level premium range. Customers interested in either model will need to check with dealerships for availability, specifications and final pricing before existing stock is exhausted.

Buyers considering a new Audi may increasingly need to look at larger models, including the Q3, depending on their budget and requirements.

The discontinuation also highlights a wider challenge for premium carmakers: balancing the appeal of affordable entry-level models with the commercial demands of producing vehicles that deliver sustainable returns.

For Audi, the departure of the A1 and Q2 marks a decisive shift away from its smallest models in South Africa. With no direct successors planned, the brand’s local portfolio will move further towards mid-sized and larger luxury vehicles, changing how prospective customers enter the Audi ownership experience.

Emirates Holidays Launches Thailand Pass with Exclusive Discounts and Holiday Perks

noreply@blogger.com (BrandArena) — Sun, 11 Oct 2026 10:33:31 +0000

Emirates Holidays has launched the Thailand Pass, offering exclusive discounts and benefits on shopping, dining and leisure experiences for customers travelling to Thailand.

Available to eligible Emirates Holidays customers, the pass provides offers of up to 40 per cent off, with no minimum spend, giving holidaymakers more opportunities to explore Thailand while saving on selected experiences.

Customers can redeem the offers by presenting their vouchers and a copy of their passport at participating malls or outlets to collect their Welcome Package. The package includes shopping and dining vouchers across 14 participating malls in Bangkok, Phuket, Koh Samui, Pattaya, Krabi and Chiang Mai.

The Thailand Pass also offers complimentary shuttle services between centralwOrld and Central Village Bangkok, alongside free VIP lounge access at both venues.

Beyond shopping and dining, the pass includes Buy One, Get One Free offers on selected attractions and experiences in Bangkok, Phuket, Pattaya and Krabi. Participating brands and attractions include Playsquare Laser Tag, Playmondo, Swensen's, Auntie Anne's, Aquaria Phuket, OTO Playpark and Monowheel. Customers can also enjoy an additional five per cent discount on Karmakamet wellness products.

The launch comes as Thailand remains one of Emirates Holidays' most popular destinations, with bookings increasing by 10 per cent year-on-year. It also reinforces Emirates' continued investment in the Thai market.

The airline recently introduced its Airbus A350 aircraft on flights to Phuket and currently operates retrofitted Airbus A380 and Boeing 777 aircraft featuring new Premium Economy cabins on routes to Bangkok.

With 49 weekly flights to Thailand, Emirates continues to serve sustained demand for the destination. The Thailand Pass adds further value to the Emirates Holidays offering, providing travellers with additional incentives to explore the country's shopping, dining and leisure attractions.

The Thailand Pass is available on eligible holiday packages booked until 31 March 2027, giving customers time to plan their trips and benefit from the exclusive offers.

Emirates Holidays customers can also secure their bookings with a deposit and benefit from a flexible cancellation policy, allowing them time to arrange visas where required or make last-minute changes to their travel plans.

The Thailand Pass is available to Emirates Holidays customers booking from the following markets: Australia, Bahrain, Bangladesh, Canada, Cyprus, France, Greece, Italy, Jordan, Kenya, Kuwait, Lebanon, Malaysia, Malta, Morocco, Nigeria, Oman, Saudi Arabia, Senegal, South Africa, Sri Lanka, Tanzania, the United Arab Emirates, the United States and Zimbabwe.

Further information about the Thailand Pass, including applicable terms and conditions, is available on the Emirates Holidays website.

Basketball Africa League Unveils Six Refurbished Courts Across Nigeria, Senegal and Côte d’Ivoire

noreply@blogger.com (BrandArena) — Wed, 07 Oct 2026 19:17:09 +0000

The Basketball Africa League (BAL) has announced the unveiling of six newly refurbished basketball courts across Côte d’Ivoire, Nigeria and Senegal as part of NBA Africa’s commitment to build or renovate 1,000 courts across the continent over the next decade.

The refurbished facilities, delivered in partnership with PETROSEN, Qatar Foundation, Ville de Dakar, Wave Côte d’Ivoire and Woodside Energy, are expected to provide thousands of young people and community members with improved access to basketball and other sporting activities each year.

The first two courts were unveiled on September 30 in Saint-Louis, Senegal, in collaboration with Senegalese national oil and gas company Société des Pétroles du Sénégal (PETROSEN), and on October 3 in Abidjan, Côte d’Ivoire, in partnership with Wave Côte d’Ivoire.

Further courts will be unveiled through December in Dakar, Senegal, in collaboration with Ville de Dakar; Joal, Senegal, in partnership with Woodside Energy; and Guédiawaye, Senegal, and Owerri, Nigeria, in collaboration with Qatar Foundation.

The refurbishments include upgraded playing surfaces, spectator seating and new basketball stanchions. Selected locations have also received improved changing rooms, sanitation facilities and lighting.

“These newly refurbished courts reflect our commitment to investing in communities and making the game more accessible to young people across Africa,” said BAL President Amadou Gallo Fall. “Together with our partners, we are creating spaces where the next generation of African basketball players, fans, and changemakers can grow, connect and thrive.”

In Saint-Louis, the indoor court at Université Gaston Berger (UGB) was unveiled on September 30. Located in the UNESCO World Heritage site, the facility will provide UGB students and the wider Saint-Louis community with a modern venue for basketball and community programmes.

In Abidjan, the renovated court at Groupe Scolaire Lac in Koumassi was unveiled on October 3. The facility is expected to serve nearly 3,000 players each week, including 2,500 students. It will also host a basketball development programme for 300 girls aged 18 and under from eight schools across the community.

Every Saturday, the venue will host the Ligue Jeune, a youth basketball competition for aspiring players aged 18 and under. The refurbishment includes upgraded lighting and new spectator benches made from recycled materials.

The project marks the second BAL court unveiled in Abidjan through the league’s partnership with Wave Côte d’Ivoire, following the launch of its first court in the city in November 2025.

In Joal, a coastal fishing community on Senegal’s Petite Côte, the newly renovated court will be unveiled on October 7 in partnership with Woodside Energy. The facility is expected to become a central gathering point in a community where access to organised sports infrastructure has historically been limited.

The renovated court will feature secure fencing and refurbished sanitation facilities. Its launch will include a basketball clinic for 100 boys and girls aged 16 and under.

In Dakar, the refurbished outdoor court along the city’s Atlantic coastline will be unveiled on October 9 in partnership with Ville de Dakar. Located at the heart of one of the city’s most active recreational areas, the facility is expected to serve as a year-round destination for players, families and visitors.

The court will also serve as a social hub for Dakar’s basketball community, young people and visitors. Upgrades include an integrated scoreboard, new storage facilities and perimeter fencing designed to improve the player and spectator experience while protecting the facility.

The inauguration will be followed by the finals of the BAL City Run, a neighbourhood basketball tournament involving 12 local teams.

In Guédiawaye, Senegal, the BAL will unveil its first-ever BAL4HER court in Africa on October 30 in collaboration with Qatar Foundation. The refurbished indoor facility forms part of the BAL’s platform focused on advancing opportunities for women and girls in basketball and beyond.

The multi-sport hub will support basketball, volleyball and handball and feature upgraded lighting, changing rooms, bathrooms and meeting rooms. It will also provide dedicated spaces for leadership workshops, life-skills training, educational sessions, and health and nutrition programmes.

In Owerri, Nigeria, the second BAL4HER court in Africa is scheduled to be unveiled in December, also in collaboration with Qatar Foundation. The project will be supported by two-time WNBA All-Star and BAL Ambassador Chiney Ogwumike and her nonprofit organisation, Queens of the Continent.

The Owerri court currently serves more than 300 participants across Imo State. Its upgrades include renovated changing rooms and bathrooms, improved lighting and enhanced drainage, transforming the facility into a dedicated venue for organised sport, youth development and community engagement.

The six projects form part of NBA Africa’s broader commitment to expanding sporting infrastructure across the continent and creating more opportunities for young people to participate in basketball and community programmes.

CBN Cuts 1-Year Treasury Bill Rate to 15.85%

noreply@blogger.com (BrandArena) — Wed, 07 Oct 2026 19:16:08 +0000

The Central Bank of Nigeria (CBN) has reduced the spot rate on its 364-day, or one-year, Nigerian Treasury bill to 15.85 per cent following an oversubscribed primary market auction held on Wednesday.

The Debt Management Office (DMO), on behalf of the CBN, auctioned Nigerian Treasury bills worth N900 billion across the standard tenors in the first auction under the fourth-quarter sales programme.

At the auction, the authority offered N100 billion each in 91-day and 182-day Nigerian Treasury bills, while N700 billion was offered in the 364-day tenor.

The auction attracted total subscriptions of about N1.77 trillion from investors seeking positions across the three standard tenors, with N968.50 billion ultimately allotted.

The 91-day and 182-day Treasury bills were both undersubscribed and under-allotted, while demand was heavily concentrated on the 364-day bills as investors sought longer-duration instruments.

The 91-day papers attracted N39.42 billion in subscriptions, of which N38.55 billion was allotted at a spot rate of 15.50 per cent, unchanged from the previous auction.

The 182-day Treasury bills recorded N46.87 billion in subscriptions, with N44.92 billion allotted at a spot rate of 15.80 per cent.

Demand was significantly stronger for the 364-day Treasury bills, which attracted more than N1.683 trillion in subscriptions against an offer size of N700 billion, reflecting sustained investor appetite for longer-term government securities.

The CBN allotted N885 billion from the subscriptions received for the one-year bills and reduced the spot rate to 15.85 per cent from 15.89 per cent at the previous auction.

The latest auction underscores continued investor demand for longer-tenor Nigerian Treasury bills despite the moderation in the one-year spot rate.

AU, AFRIMA Open Entries for 10th Edition on October 11

noreply@blogger.com (BrandArena) — Wed, 07 Oct 2026 19:04:25 +0000

The African Union (AU) and the International Executive Committee of the All Africa Music Awards (AFRIMA) will officially open the entry portal for the 10th edition of the awards on October 11, 2026, inviting artistes and music professionals across Africa and the Diaspora to submit their works for consideration.

The 10th AFRIMA is scheduled to take place from May 18 to 23, 2027, in Lagos, Nigeria.

The entry portal will remain open until January 10, 2027, providing artistes, songwriters, producers and other creative professionals with an opportunity to compete for recognition at the 10th edition of the continental music awards.

AFRIMA will accept entries across 40 award categories, comprising Regional and Continental categories representing Africa’s five regions and its diverse music genres.

Eligible entrants include artistes, songwriters, music producers, video directors, DJs, dancers and choreographers, record labels, music executives and unrecorded artistes of African origin living on the continent or in the Diaspora.

Only works produced or released during the eligibility period, from August 10, 2025, to January 10, 2027, will qualify for consideration.

Entries must be submitted digitally through the official AFRIMA website. Submissions sent to AFRIMA email addresses or through other platforms will not be accepted.

The opening of the portal follows the unveiling of the 10th AFRIMA global calendar event in Los Angeles, United States, on September 20, 2026.

The call for entries also comes after AFRIMA received a record 10,717 submissions for its ninth edition, highlighting the growing participation of African music professionals in the continent’s global music awards platform.

Speaking on the opening of the entry portal, AFRIMA International Jury member representing Eastern Africa, Lucy Ilado of Kenya, urged eligible music professionals to submit their works and take advantage of the platform’s continental and global reach.

“As we open entries for the 10th edition of AFRIMA, I especially encourage upcoming artistes and music professionals to take advantage of this opportunity and submit their work. AFRIMA provides a platform for emerging voices to be discovered alongside established names from across Africa and the Diaspora.

“I also encourage entrants to take time to understand the different categories and submit their work in the category that best fits it. Beyond the quality of the work itself, it is important to ensure that entries are submitted correctly, with accurate information and working links, so they can be properly considered during the screening and adjudication process,” she said.

Also speaking, Adam Tiran, a member of the AFRIMA International Jury representing Southern Africa from South Africa, said:

“The African music industry is changing rapidly. We are seeing new sounds, new collaborations, and a new generation of artistes and music professionals finding their own space in the industry. AFRIMA gives these voices another opportunity to be heard and recognised.

“I encourage music professionals from across the continent and the Diaspora to use this entry window to put forward the work they believe represents where African music is today and where it is going. AFRIMA should continue to be a platform that discovers new talent, recognises excellence, and brings the different regions of Africa closer together through music for greater global expansion and reach.”

Applicants are required to complete the online Entry Registration Form accurately and provide working links to their submitted works. Audio and video entries should be submitted through downloadable or streamable links from platforms such as YouTube or SoundCloud.

The entry form is available in English, French, Swahili, Arabic and Portuguese, with a Spanish translation also accessible.

Established in 2013 by the International Executive Committee of AFRIMA in partnership with the African Union, AFRIMA has grown into Africa’s biggest, most prestigious and longest-running music awards platform, dedicated to developing, celebrating and promoting African music, culture and creative talent globally.

AFRIMA’s broadcast reaches audiences in more than 84 countries, connecting millions of viewers worldwide.

Quest Merchant Bank Concludes 2026 Questember with Community Impact Initiatives

noreply@blogger.com (BrandArena) — Wed, 07 Oct 2026 19:01:40 +0000

Quest Merchant Bank Limited has concluded the 2026 edition of Questember, its inaugural Corporate Social Responsibility (CSR) month, with a series of initiatives focused on financial literacy, environmental sustainability, health and wellbeing, and community development.

Held throughout September, Questember brought employees together to support communities through targeted interventions reflecting the Bank’s commitment to creating positive social impact beyond the provision of financial services.

As part of the programme, the Bank engaged students of Girls Secondary Grammar School (GSGS), Ikoyi, through a financial literacy and health education outreach.

Senior Secondary School Two (SS2) students participated in interactive sessions covering money management, saving, responsible financial decision-making, healthy lifestyle choices and career development. The engagement concluded with an interactive quiz designed to reinforce the lessons and encourage students to apply the knowledge gained in their daily lives.

As part of its environmental sustainability efforts, Quest Merchant Bank organised a community clean-up exercise and donated waste bins to promote proper waste management. The initiative was carried out in collaboration with officials of the Lagos Waste Management Authority (LAWMA), encouraging responsible waste disposal and greater community ownership of environmental stewardship.

The Bank also extended support to vulnerable members of the community through its Food Bank Initiative, distributing food items to residents within its host community.

In addition, employees visited Living Fountain Home, where they donated essential items and spent time engaging with the children as part of the Bank’s broader commitment to community wellbeing and social inclusion.

Recognising the importance of employee wellness, Quest Merchant Bank also implemented Quest2Wellness, a month-long fitness challenge aimed at encouraging healthier lifestyles, increased physical activity and greater awareness of personal wellbeing among employees.

Commenting on the initiative, Afolabi Olorode, Acting Managing Director/CEO, Quest Merchant Bank Limited, said, "Questember represents more than a calendar of CSR activities. It provides an opportunity for us to translate our commitment to responsible banking into meaningful action within the communities we serve. Through financial education, environmental initiatives, employee wellness activities, and support for vulnerable groups, we are leveraging our people, resources, and expertise to create sustainable impact and contribute to positive social outcomes."

The 2026 Questember programme underscores Quest Merchant Bank’s broader commitment to responsible and sustainable business practices.

By bringing together employees, partners and community stakeholders, the Bank continues to support initiatives that promote financial literacy, wellbeing, environmental responsibility and social development, while creating lasting value for the communities it serves.

Xiaomi Launches REDMI Note 17 Series in Nigeria with Titan Quality

noreply@blogger.com (BrandArena) — Wed, 07 Oct 2026 18:56:47 +0000

Xiaomi has launched the REDMI Note 17 Series in Nigeria, unveiling four new smartphones designed to deliver enhanced durability, battery performance and long-term reliability to consumers.

The launch event brought together Xiaomi representatives, major channel partners, dealers, and distributors from across the country, as well as leading technology influencers.

The launch also marked a milestone for the REDMI Note Series, which has surpassed 500 million shipments globally. Built around the philosophy of "Built for Years", the new lineup comprises the flagship REDMI Note 17 Pro Max 5G, REDMI Note 17 Pro 5G, REDMI Note 17 Pro, and REDMI Note 17.

Central to the new series is Xiaomi’s REDMI Titan Quality, a durability-focused approach designed to deliver dependable performance through years of everyday use.

The REDMI Note 17 Pro Max 5G leads the lineup with Xiaomi’s largest-ever 10,000mAh smartphone battery, supported by 100W HyperCharge. The company said the device can provide up to three days of power on a single charge and retain at least 80 per cent battery capacity after 1,600 charging cycles, equivalent to six years of typical use.

Highlighting the vision behind the new launch, Mr. Vandy, Country Manager Xiaomi Nigeria, stated, "With the REDMI Note 17 Series, we are delivering on our core promise: premium innovation made accessible to everyone without sacrificing longevity. By introducing REDMI Titan Quality and up to six years of security updates, we are offering Nigerian consumers a device engineered to perform like new for years to come."

Echoing the enthusiasm for the countrywide rollout, the CEO of Finet, Dr Fred Nnadike added: "As Xiaomi's distribution partner, we are proud to expand the reach of the REDMI Note 17 Series across Nigeria. The exceptional battery endurance and structural toughness directly address the demands of Nigerian smartphone users who require absolute reliability for work and everyday connectivity."

Underscoring the strong retail reception, Mr. Ahmed Magdy, CEO of Raya distribution, remarked: "Our retail footprint across Nigeria has allowed us to closely monitor what consumers value most; durability, battery life, and price-to-performance value. The REDMI Note 17 Series sets a completely new standard in the mid-range market, and we are thrilled to bring these groundbreaking smartphones directly to our nationwide customers."

The REDMI Note 17 Series is now available at authorised retail partner stores across Nigeria, giving consumers nationwide access to Xiaomi’s latest smartphone lineup.