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Gbenga Okejimi, Country Manager, Nigeria and Ghana, WorldRemit, one of the global digital payment companies, spoke to Goddy Egene about the company’s operations with emphasis on its entrepreneurship programme across Africa’s markets: Excerpts:
How long has WorldRemit been operating in Africa and how would you rate the general impact of your operations on the continent?
WorldRemit was founded in 2010 by Ismail Ahmed with the help of co-founders the late Catherine Wines and Richard Igoe. Inspired by his own personal experience, Ismail made the decision to develop an innovative money transfer to provide a solution for those who send money to friends and families back home. For over a decade, WorldRemit has continued to expand across Africa and currently supports fund transfers from over 50 countries to 150 destinations dealing in over 90+ currencies across 6,500 money transfer corridors.
Goddy Egene
The Flour Mills of Nigeria Plc (FMN) has announced its audited financial results for the year ended March 31, 2021, showing improved performance indicators.
The results showed that the group achieved impressive top-line growth for the year, aided by gains from its agro-allied turnaround strategy.
Specifically, FMN posted a revenue of N771.6 billion for the year, showing an increase of 34.5 per cent compared with the N573.77 billion recorded the previous year. Net finance cost fell from N17.5 billion to N15 billion, resulting from better cost and financial management strategy. Profit before tax rose by 112 per cent to N37.19 billion from N17.50 billion, while profit after tax (PAT) grew faster by 126 per cent to print at N25.72 billion compared with N11.38 billion the preceding year.
Vetiva Projects Nigerian Economy to Rebound by 3 1% in 2021 thisdaylive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisdaylive.com Daily Mail and Mail on Sunday newspapers.
Goddy Egene
Nigerian companies have raised over N800 billion bonds from the capital market in the first half of 2021 (H1) just as predicted by Norrenberger in its 2021 Economic Outlook Report.
Norrenberger, a financial services group, had predicted in its 2021 economic outlook report published in December 202o that yields on fixed income instruments would remain low and thus was expected to result in many corporate borrowers to see bonds as a suitable source of capital to cover their increasing cost of operations.
The Report titled “Seizing The New Reality,” was designed for local and foreign investors who seek to understand the investment/capital market in Nigeria. The report had explained that while major policies and actions from government authorities and international organisations should be enough to restore economies to the growth path, aggregate consumption was expected to grow at a gradual pace.
Stock Market Sheds N1 303trn in First Half of 2021 thisdaylive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisdaylive.com Daily Mail and Mail on Sunday newspapers.