Business
Glo, Palmpay Partner to Reward Customers in New Promo
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Globacom, foremost provider of integrated telecom solutions in Nigeria, and PalmPay, a leading fintech platform, have launched a new marketing initiative tagged: “PalmPay Bonanza – Recharge Glo and Win,” which offers Nigerians who buy Glo data and airtime bundles via the PalmPay platform, the chance to win fantastic prizes.
The highly rewarding initiative runs from July 21 till September 14 this year.
Globacom in a statement in Lagos noted that “we always seek innovative avenues to enrich the lives of our subscribers. Teaming up with PalmPay for this campaign aligns with our goal to provide unparalleled value and experiences. We encourage our subscribers to make utmost use of the opportunity provided by “PalmPay Bonanza – Recharge Glo and Win” and enjoy many benefits that lie in store.”
The company also added that “PalmPay has transformed the digital payment landscape with its easy to use and reliable payment app. Offering free transfers, access to over 300 different services on its app, and a network of 800,000 mobile money agents and merchants, it has rapidly grown to be a preferred payment platform for over 25 million users across Nigeria.”
It stated that there will be a live raffle every week during the course of the promotion, streamed on PalmPay’s social media channels, offering actual prizes to lucky customers who had made purchases from Globacom using PalmPay. It further mentioned that awards would include high-end electrical items like smart TVs, Playstation 5, and iPhone 14 Pro Max.
“Every transaction above N300 gives participants an extra shot at winning”, the statement noted, adding that “Daily social media challenges will offer participants a chance to win up to N5, 000,000 in Glo airtime and data. Above all, PalmPay customers will also enjoy up to 6% cashback on Glo airtime and data on the PalmPay app. Also, customers who have not recharged in the last 90 days will get a 100% bonus on their recharge during the campaign period”.
Speaking on the new promotion, Managing Director of PalmPay Nigeria, Mr. Chika Nwosu stated that: “This collaboration embodies our commitment to providing value to our esteemed users. Partnering with Glo, a leader in the telecommunications sector is a testament to this dedication. We are excited to reward our users and urge everyone to take advantage of this fantastic opportunity.”
Business
Unity Bank Posts N59.3bn in Gross Earnings, Grows Deposits by 23% in 2023 FY
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Retail lender, Unity Bank Plc posted gross earnings of N59.3 billion for the full year ended December 31, 2023, representing a growth of 3.84% year-on-year.
In its audited financials submitted to the NGX Group Limited, the Bank also witnessed improvements across key performance indicators, including a significant appreciation of customer deposits by 23% to N402.9 billion from N327.4 billion within the period under review – an indication of sustained retail growth and customer confidence.
Other key highlights of the full-year results include the total assets which stood at N472.5 billion; net fee and income commission, N5.2 billion and an increase in interest income by 9.6% to 53.7 billion from N48.8 billion within the period.
Commenting on the result, the Managing Director/Chief Executive Officer of Unity Bank Plc, Mrs. Oluwatomi Somefun said the Bank had issued a profit alert to reflect revaluation loss arising from Naira devaluation which was due to the acute shortage of Forex that created an inclement business environment and, on the aggregate, set in an economic headwind. She noted, however, that in the full-year statement, this has bottomed out and the key performance indicators are rebounding from the low level of growth and negative trends that characterized the year.
Mrs. Somefun stated: “As we begin to see the margins being closed, it is an indication that the measures being taken to revamp all aspects of the business is being well received by the market: be it workable recapitalization plan, aggressive drive for asset creation, product innovation, or digital banking”.
“We will need to covet the improvements and further build upon it. As a corporate brand, we have a lot that is keeping us going: the positive sentiments and optimism, the growing franchise of the business and steady growth in different segments of the retail market across all the geo-political zones of Nigeria” ” she said.
She added, “We have the right indicators to reclaim lost grounds – innovating with the development and soon to be launched an omnichannel digital app to improve reliability, customer experience, support diverse products functionality which will impact earnings, income and profitability.”
The Central Bank of Nigeria (CBN) has recently approved a business combination with another innovative Bank in Nigeria, marking a significant milestone in the Bank’s growth strategy as it advances its recapitalization plans. This partnership is built on a shared vision to redefine the banking experience for our customers and will drive the transformation of the consolidated entity. By leveraging Unity Bank’s extensive branch network and strong customer relationships alongside the entity’s digital expertise and commitment to innovation, we aim to create a seamless integration of traditional and modern banking services.
Amid a review of key highlights that support the steady growth of the retail business, analysts are of the view that the Bank has continued to reflect a good outlook in terms of perception and confidence in the market, which by and large creates an entity with remarkable resilience whilst investors’ sentiments remain positive.
Business
PCC Extols Julius Berger for Zero Complaints
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The Public Complaints Commission has hailed construction firm Julius Berger Nigeria Plc for its compliance with regulations and its track record of zero public complaints.
The Commission’s Federal Capital Territory Commissioner, Musa Dikko, stated in a statement that the company deserves an award for its commitment to excellence in construction and labour relations.
Speaking during a courtesy visit to Julius Berger’s headquarters on Wednesday, Dikko highlighted the company’s long-standing reputation for quality and fairness.
“Our joy is that every construction done by Julius Berger Nigeria Plc is nearly perfect. I say ‘nearly’ because they say no one is perfect,” he said.
The commissioner commended the company’s approach to compensation at project sites, particularly in the FCT, noting that it ensures prompt and fair settlements.
“Each time compensation is required, my parents and our people always feel at ease because Julius Berger’s approach is different from other construction companies. This long-standing commitment has ensured that no complaints have been brought to the Public Complaints Commission regarding the company’s conduct,” Dikko added.
PCC’s State Director of Investigation, Irene Ogbogu, also lauded the company’s Corporate Social Responsibility efforts and its adherence to due process. Responding, Director of Administration, Dr Abdulaziz Kaita, reaffirmed Julius Berger’s commitment to upholding workers’ and community rights.
His words, “As a company, we have always strived to operate within legal and ethical guidelines.
“Our cooperation with the PCC has been beneficial to both parties, and we will continue to support the Commission’s mandate of protecting the rights of the people and ensuring compliance.”
Kaita emphasised that as one of the largest employers in Nigeria’s construction industry, the company remains diligent in its responsibilities.
“Being a major employer of labour requires us to be diligent in the protection of our workers and the citizens. We have internal policies that we abide by, and I can assure you that Julius Berger Nigeria Plc will ensure everything is done through due process,” he assured.
Both parties reaffirmed their commitment to strengthening public trust and fostering compliance in Nigeria’s infrastructure sector. The PCC delegation on the courtesy visit included the Chairman, Hon. Musa Dikko; State Director of Investigation, Mrs. Irene Chuka Ogbogu; Deputy Director of Investigation, Mrs. Jideri Agbese; Head of Public Relations, Mr. Emmanuel Ugboaja; Deputy Head of Public Relations, Mr. Alex Akinyele; and Information Officer, Ms. Gladys Iduku.
Business
Glo Intensifies Infrastructure Upgrade for Seamless Services, Connectivity
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Technology Company, Globacom, has intensified its nationwide network upgrade to provide world-class telecommunications services. This initiative which kicked off in 2024 aims to significantly enhance the overall customer experience, ensuring seamless and uninterrupted connectivity.
The upgrade involves nationwide deployment of new sites and the enhancement of existing infrastructure to deliver high-speed data and superior voice services to its expanding customer base.
In response to recent industry developments, Globacom reaffirms its commitment to building a world-class telecommunications infrastructure while maintaining competitive pricing for its voice and data services.
The network upgrade comprises holistic transformation of Globacom’s infrastructure, including entire scope of Telecoms infrastructure upgrade, from the core network to access network, transmission and IP network, fiber network, metro access and backbone infrastructure as well as passive equipment expansion like power and environment.
Recent milestones include the successful deployment of hundreds of new sites in key locations across Lagos, Ogun, Nasarawa, Rivers, Edo, Delta, Cross River, Kaduna, Kano, and Abuja. This expansion aims to boost network capacity, provide enhanced resources for subscribers, and alleviate congestion in high-traffic areas.
Furthermore, Globacom has integrated hundreds of LTE 2600 sites in strategic markets, including Lagos, Oyo, Ogun, Ondo, and Kwara, as well as select tertiary institutions. This enhancement ensures high-speed data services and prevents network congestion.
In alignment with the Federal Government’s broadband penetration initiative, Globacom has created additional data network capacity and carried out enhancements across 1,700 sites nationwide. This upgrade improves data throughput, network quality, and coverage, ultimately elevating customer satisfaction, in addition hundreds of 2G, 3G and 4G base stations have also been completed to boost coverage and enhance capacity demand across the country.
To support these expansion projects, Globacom has upgraded its Glo1 submarine cable capacity to ensure seamless access to ultra-high-speed services. This upgrade guarantees a unique calling and browsing experience on the Glo network at all times.
Globacom has also embarked on a nationwide initiative to upgrade its power and fiber infrastructure, deploying thousands of new generators and replacing thousands of kilometers of old fiber routes while laying new ones. This effort aims to create redundancy for better network availability and further enhance customer experience.
Globacom, therefore, is poised to delivering exceptional telecommunications services, empowering Nigerians to stay connected at all times.