Backward Integration: Dangote targets 700,000MT of refined sugar in four years - ITREALMS

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…As Q1 revenue rise by 20.1% to N122.7bn

Dangote Sugar Refinery Plc (DSR) has unveiled plans to produce 700,000 metric tonnes of refined sugar from locally grown sugarcane in the next four years, through its Backward Integration Programme (BIP).

Chairman of Dangote Sugar Refinery Plc, Aliko Dangote stated this at the company's 18th Annual General Meeting (AGM) held yesterday in Lagos, just as the Nigerian Exchange released the company’s first-quarter result for 2024, indicating an increase of 20.1 per cent in its revenue to N122.7 billion.

Imudia, Konga CEO eyes $10m daily turnover in four years - ITREALMS

ITREALMS:

The electronic-commerce (eCommerce) giant, Konga has revealed that the business is anticipated to hit the $10 million daily turnover mark by 2024, reports ITREALMS.

To realise the target, Konga has disclosed that the growth trajectory and overall operational efficiency backed by the consistent reduced losses it has witnessed are critical factors in the projections.

Making known the brand’s ambitious plans was Konga Co-CEO (Online), Nick Imudia.

Imudia revealed that Konga has put necessary machinery in place to achieve the goal. To this end, he stated that Konga would work assiduously to reach a target of $5 million daily turnover by 2022 as preparation towards realizing the $10 million set target by the end of 2024.

Since its entry into the Nigerian e-commerce market as one of the foremost pioneers in the sector, Konga has stood out; with its several revolutionary strides ultimately catapulting it to pole position. Today, Konga unarguably occupies leadership of the Nigerian e-commerce sector being largely responsible for restoring investor and customer confidence after a testy 2019 marred by allegations of fraud that trailed the activities of another major player.

Imudia said: “Konga has used the last decade to lay a solid foundation for e-commerce business in Nigeria and to build trustworthy relationships with customers and potential investors across the Nigerian business spectrum. With the high level of trust the brand has gained among shoppers in and out of Nigeria, it is safe to say Konga is ready to scale big in the early part of this third decade. Therefore, we are targeting a $10 million daily turnover by 2024. We shall attain half of this target at least by 2022. To meet this target, we would be relying on the efficiency we have brought to bear on the business and the renewed confidence the Konga brand enjoys among critical stakeholders.

“There is no iota of doubt that Konga remains in prime position to attain this target, especially when one looks at the consistent growth the brand has recorded in the past years. Konga has grown over eight times since the business was acquired by the Zinox Group. Secondly, we have consistently reduced our losses by nearly 70%. Added to this is the addition of new and thriving business units such as Konga Travel, among others, all of which have enjoyed huge growth and massive acceptance by our rapidly expanding customer base.

Konga, which remains the only e-commerce brand in Nigeria operating an omni-channel structure, currently has more than 30 stores across Nigeria. With the aid of KongaPay, a Central Bank of Nigeria (CBN) licensed payment platform, which recently added Automated Teller Machine (ATM) card-less withdrawal and Unstructured Supplementary Service Data (USSD) features, Konga has captured more Nigerians in the e-commerce net; while lending an unprecedented level of ease and refinement for online shoppers across the e-commerce landscape.

Imudia also disclosed that Konga, which has won several awards in the e-commerce industry, has made significant strides in resolving the challenge of logistics through K-Xpress, its in-house logistics company, which has proven its capacity to handle hassle-free, last-mile and same-day delivery to the company’s teeming customers, while also resolving logistics thorny issues for external customers. Furthermore, he revealed Konga state-of-the-art regional warehousing facilities, which enables it to retain huge inventory in diverse states and locations, while fulfilling costumers’ orders in the shortest possible time, are a critical success factor in its revenue ambitions.

“Furthermore, we are not relenting on our determination to continually meet and exceed the aspirations of our numerous customers, no matter who they may be and where they may be. In addition to this, we shall continuously grow investor confidence in Nigeria’s e-commerce sector and help everyone to see the brighter side of e-commerce business in Nigeria, even as we consistently explore ways of ways of upgrading our processes and raising the standard of service delivery and customer satisfaction in the sector.

‘‘We will be rolling out additional new business units in the weeks and months ahead. These additions will excite our customers and expand the Konga retail revolution to new verticals. To make the shopping experience a memorable one for our customers, we have also lined up various value-adding services and promotions throughout the year. These assets and many others too numerous to mention will shape the Nigerian e-commerce sector in 2020 and the succeeding years,’’ he submitted.

*Editor
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Nigeria to rake in USD452m in 4 years

ITRealms:

Nigeria will rake in revenue to the tune of US$452 million from Internet access in the next four years, reports ITRealms.

Making this prediction, experts in entertainment and media said this figure will be part of the USD$ 2.8 billion to be made in the next four years.

This position was contained in the latest ‘Entertainment and Media Outlook: 2017 – 2021: An African perspective’ by the PriceWaterhouseCoopers (PwC) and made available to ITRealms.

Disclosing this to ITRealms, the Entertainment and Media Industry Leader for PwC Southern Afric, Vicki Myburgh, noted that in terms of total E&M revenue, Nigeria is one of the fastest-growing countries in the Outlook.

“… But this figure must be treated with caution, as a huge proportion of that growth comes from Internet access revenue alone–specifically mobile Internet access revenue.”

Of the US$2.8 billion, the Outlook revealed that the Nigerian market will add between 2016 and 2021, all but US$452 million will come from Internet access revenue.

The combined elements of TV and video, the Outlook indicated will add nearly US$200 million in revenue growth to 2021.

The Outlook, ITRealms gathered, is a comprehensive source of analyses and five-year forecasts of consumer and advertising spending across five countries, namely South Africa, Nigeria, Kenya, Ghana and Tanzania; and 14 segments: including the Internet, data consumption, television, cinema, video games, e-sports, virtual reality, newspaper publishing, magazine publishing, book publishing, business-to-business publishing, music, out-of-home, and radio.

Chuks Egbune/GEE 

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Two years of dummy change: Nigeria’s patience gone awry

Commentary@ITRealms:

Like play, like play, the clock started tickling; seconds rolled into minutes, minutes into hours, hours into days, days into months and of course, months into years.

It is no longer news that President Muhammadu Buhari has clocked two years in office today, Monday, 29th May, 2017. Another opportunity to really assess him if he has brought the desired "change mantra" he promised Nigerians. A potpourri of reactions has trailed the President's leadership style.

The bane of Nigeria is that people who are unprepared for leadership positions are helped to occupy important positions in the executive arm of government. A politician who aspires to lead Nigeria should have a good grasp of Nigeria's history, the issues confronting us as a country. If elected, must have a blueprint of policies ready.

It is stale news that Nigerians are not happy with Buhari as per their expectations. Buhari, I need to tell you that Nigerians are no longer exercising patience.

A hungry man does not understand patience; he hankers deliberately to fill his belly with edibles. A hungry man daily expects between life and death. He may be praying to go to heaven, but he is not prepared to die at least of hunger. Counsel him to exercise patience and you become his number one enemy. We will not be fair by calling people names because they have told President Buhari to sit up. God has not configured man to be patient with pain and suffering. Those who are craving for visible change from President Buhari's administration want to see a reflection of change.

They want to be sure that government is on the same page with them. Human memories are short; and leaders all over the world are human beings who need to be reminded of their obligations to those they lead. If you don't remind them, they may never remember you.

Sai Baba, two years in office after your historic assumption, it has become increasingly tedious to see the change Nigerians voted for. The hitherto much vaunted body language of the President seems to have evaporated.

Currently, Nigeria is in a terrible state. The price of the majority of items has increased, electricity that would have provided a soothing relief is now a scarce commodity. The absurdity of asking the masses to bear the brunt of government inefficiency is the height of irresponsibility and unexpected of a government that raised the hopes and aspirations of Nigerians, but now sees nothing wrong in altering its electoral promises. It does not require rocket science to engender good governance. Nigerians are tired of lousy services, lethargic approaches to critical issues. There are no indications that the government is moving in the right direction and hope for a better tomorrow remains forlorn.

Sai Baba, do we need the circuitous route to get to the promised land? Buhari promised to nudge the nation on the path of rebirth and regeneration, but it has remained "story for the gods". Things are getting harder each passing day. I likened Nigeria to a brand new car, which embarked on a journey with a full tank but could not arrive at its destination because it had a shattered windscreen and faulty engine due to the inexperienced and careless driver.

Let me categorically say here that, I write this article without any malice. More importantly, I expect no personal gratification other than to see change in the lives of the people.

Buhari, when we told you to hit the ground running, Mr. Femi Adesina your special adviser said ‘NO’ that you might fall inside the mud.

Are you crawling or walking, no matter what, we cannot continue to move at this millipede level. The average Nigerian is very high in pessimism and very low in patriotism. Hardly an edifying fact for a country that wants to grow; Nigerians are encircled by grinding and excruciating poverty. There is disconnect between the people and the government. The economy is in tatters. Those who gave Buhari a benefit of doubt in his second coming are already gnashing their teeth now. Boko Haram is still hanging like the sword of Damocles on the heads of Nigerians, the Fulani herdsmen are maiming, raping with reckless abandon, kidnapping has refused to stop, armed robbery is a daily exercise, salaries are even owed and Nigerians are dying needlessly on a daily basis.

Buhari's leopard spot has not been able to change its spot. His methods and feelings are still the same. His mission is as serpentine as ever. He promised change and has no idea of what change stands for.

Those that campaigned for Sai Baba dressed him in deceptive drapes of inadequacy. The more they shout change, the more things remain the same or even worse. We don't need a fictional George Orwell to tell us that things are not moving well.

Like an ancient curse, the same old problems continue to haunt Nigerians. We have been sitting on a barber's chair, swiveling in all directions without change.

Lest I forget, Buhari and his party All Progressive Congress (APC) did not really have a plan, what they possessed was to come into office and think of any. The blame game is still all over the place. Nigerians are no longer at ease and things must not fall apart, because the arrow of God is not a purple hibiscus. The issues that confront Nigeria are as glaring as a bright shining star and the effects as scorching as the rays from the sun, but some pettifoggers employed by the APC choose to deliberate on inanities.

Take it or leave it, this is a dummy change.

*Chris Uruakpa is a public commentator and contributed this from Lagos.

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Africa ranks 3rd in ALS accreditation in 13 years

ITRealms:

In over a decade of accreditation for the At-Large Structures (ALS) by the At-Large Advisory Committee (ALAC, Africa recorded 42 and third in the category, reports ITRealms.

This 42 is coming out of the world five regions, just as Latin America and the Carribbean Islands, topped the ranking with 50 ALS within the period under review.

Also coming second is the Asia Pacific with 44 ALSes, while Europe recorded 37 and North America 27.

This, ITRealms reports is an average of 14 ALSes each year.

Although, it was gathered that an estimated 33 per cent of ALSes are Internet Society Chapters from across the globe.

ITRealms recalls that since September 2003 when the first ALS, the Internet Society Italy Chapter, the At-Large Community has seen a steady increase of ALSes.

ALS is a wholly independent organization from ICANN, whether it is an Internet-related consumer rights groups or an academic organization, ALSes share the passion in furthering the development of Information and Communication Technologies and contributing to policy activities that influence the technical coordination of the Domain Name Systems.

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