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UBA unveils a $6 billion initiative to empower small and medium-sized enterprises (SMEs) across Africa

Tosin Ranks
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UBA unveils a $6 billion initiative to empower small and medium-sized enterprises (SMEs) across Africa

The United Bank for Africa has announced a significant $6 billion initiative aimed at providing comprehensive financial solutions.

The primary objective is to bolster and support small and medium-sized enterprises (SMEs) across Africa, with a particular focus on key sectors like agro-processing, pharmaceuticals, automotive, transport, and logistics.

In a statement issued on a Sunday, the bank articulated its commitment to granting SMEs access to financing. This initiative has become possible thanks to UBA’s recent partnership with the African Continental Free Trade Area secretariat, formalized during the 30th Afreximbank Annual Meeting in Accra, Ghana.

Under this partnership, UBA pledges to extend up to $6 billion in financing to eligible SMEs across Africa over the next three years.

This collaboration between UBA and AfCFTA will initially concentrate on supporting SMEs in import-dependent sectors such as agro-processing, automotive, pharmaceuticals, transport, and logistics. Their support goes beyond financial solutions, encompassing technical assistance to promote domestic alternatives within Africa.

Muyiwa Akinyemi, Deputy Managing Director of UBA, emphasizes the bank’s commitment to fostering SME growth and development continent-wide, aligning with its role as a catalyst for Africa’s economic progress.

Furthermore, UBA’s vision under this partnership extends beyond financial support; it aims to offer non-financial services to these SMEs, helping them build capacity for growth across the 20 African countries where UBA operates.

Leveraging technology, UBA aims to efficiently deliver its financing activities, contributing to its reputation as “Africa’s Global Bank.”

Alero Ladipo, Group Head of Marketing and Communications at UBA, has disclosed that the bank is ready to provide $240,000 in financing, comprising working capital loans and asset finance loans.

These funds are specifically designed to empower businesses for success in the ever-evolving African business landscape.

Medic West Africa aims to strengthen healthcare infrastructure

Tosin Ranks
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Medic West Africa aims to strengthen healthcare infrastructure

The Medic West Africa Exhibition and Conference, a significant gathering of healthcare trade professionals in West Africa, is slated to return to Lagos’ Landmark Center.

In an announcement from Medic West Africa, it was revealed that this year’s event, scheduled for September 26th to 28th, 2023, marks its 10th anniversary.

The statement emphasized that the event’s purpose is to bridge gaps and provide an unparalleled platform for leaders to engage in discussions and shape the future of the healthcare landscape in the region.

The 2022 edition boasted an impressive track record, hosting 3,260 healthcare professionals from 84 countries and facilitating $30 million in business deals.

Tom Coleman, the Exhibition Director for Medic West Africa, explained, “With the region’s rapidly growing population, there is an increasing demand for quality healthcare services in West and Central Africa.

While governments have made substantial investments in improving healthcare infrastructure and expanding access to medical facilities, Medic West Africa plays a pivotal role in advancing the healthcare industry by creating a conducive environment for businesses and stakeholders to connect, discuss, and explore the latest advancements in healthcare technology and solutions.”

He also expressed excitement about the launch of Medlab West Africa alongside the 2023 Medic West Africa event, stating, “After 20 successful years as a global event brand, Medlab will become the ultimate event where innovation, collaboration, and growth converge to shape the future of the laboratory industry in West Africa.

It will facilitate connections within the medical laboratory community, making it the region’s largest multi-disciplinary laboratory congress and exhibition.

NGX ASeM board remains stagnant due to limited investor enthusiasm

Tosin Ranks
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NGX ASeM board remains stagnant due to limited investor enthusiasm

The Alternative Securities Market board of the Nigerian Exchange Limited has experienced stagnant trading activity for several weeks due to a lack of investor interest.

According to data provided by the NGX, the board’s index has remained at a constant 658.99 basis points since July 19, 2023.

The companies listed on the ASeM index include Capital Oil with a market capitalization of N1.17 billion, Juli with N157.92 million, Rak Unity Petroleum Company with a market cap of N16.988 million, and Smurfit Products Nigeria with N9 million in market cap.

Capital Oil concluded trading at N0.2 on Friday, and it has seen minimal activity in recent times.

Its last financial results on the Nigerian Exchange Limited were reported for the period ending September 30, 2018.

Another company listed on the ASeM board is Juli Plc, involved in pharmaceutical retail, supermarket operations, and laboratory services.

It closed trading at N0.79 on Friday, maintaining this price for the past seven trading sessions, with the most recent trade occurring on July 31, 2023, involving 888 units of its shares.

Juli had submitted its financial results up to the first half of 2023 to the NGX.

Smurfit also closed trading at N0.2 on Friday, the same price at which 1,500 units of its shares were last traded on July 17.

Rak Unity Petroleum Company plc’s shares concluded at N0.3 per share on Friday.

Meanwhile, NGX Regulation Limited, in its X-Compliance Report dated September 8, 2023, has indicated that the process of closing down the ASeM Board is underway.

Regarding this situation, capital market operators have suggested that the primary reason for the board’s decline is the lack of investor interest rather than issues with the companies themselves.

These companies on the board are relatively small-scale and not highly capitalized, which may not attract many investors in the current market environment.

However, it’s important to note that this doesn’t necessarily reflect underlying issues with these companies; they are simply less liquid and may not align with the preferences of the broader investor base.

Introducing the Top 6 Finalists of BBNaija All Stars

Tosin Ranks
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Introducing the Top 6 Finalists of BBNaija All Stars

Who do you believe will emerge as the winner of the competition on Sunday, October 1st, 2023, among the following contestants: Ilebaye, Ceec, Mercy, Adekunle, Cross, and Pere?

 

Pochettino urges Chelsea, in their current struggles, to mature and develop

Tosin Ranks
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0
Pochettino urges Chelsea, in their current struggles, to mature and develop

Mauricio Pochettino has acknowledged that struggling Chelsea is in need of maturity as their tumultuous season reached a new low with a 1-0 defeat to Aston Villa on Sunday.

Pochettino’s team has managed to secure only one victory in six league matches under his guidance, as Ollie Watkins’ second-half goal clinched victory for Villa at Stamford Bridge.

The Blues currently find themselves in 14th place, with just a four-point buffer above the relegation zone, having failed to score in their past three games.

Chelsea’s latest setback was triggered by the expulsion of young defender Malo Gusto in the 58th minute for a challenge on Lucas Digne. After a pitchside VAR review, referee Jarred Gillett upgraded the initial yellow card to a red card due to dangerous play.

Adding to Pochettino’s woes, Chelsea striker Nicolas Jackson, who has netted just one goal since his transfer from Villarreal, received his fifth booking for attempting to block a Villa free-kick, resulting in a one-game suspension.

Pochettino declined to criticize the officials and instead emphasized that he and his players must take responsibility for Chelsea’s difficulties.

It’s our responsibility, and it’s the players’ responsibility. We can’t point fingers at VAR or the referee,” Pochettino remarked.

We need to respond differently to these situations. I won’t blame or say anything negative about Malo Gusto. In football, situations occur, and they have a detrimental impact on the game and the team.

We need to mature as a team, not just as individuals. Players like Nico (Jackson), who are young and adjusting to the Premier League, require time.”

Despite spending over £350 million ($428 million) on new signings since his arrival in July, Pochettino has been unable to uplift a Chelsea side that struggled significantly last season.

Chelsea’s strategy under co-owner Todd Boehly has been to acquire younger players with high potential and resale value, but this has left Pochettino with a largely inexperienced lineup.

The former Paris Saint-Germain and Tottenham manager has also had to contend with a lengthy injury list.

Chelsea’s youthful squad has struggled to meet expectations thus far, and Pochettino is eager for a response as the pressure continues to mount.

“In matches like these, we’re in competition mode, and we want to win. However, young players need to gain experience through matches,” he noted.

“That’s why we’re disappointed because we find ourselves in too many situations like this. A minor detail, and in the end, we lose the game. We are in a situation that we must change as soon as possible.

Following Burnley victory, Marcus Rashford involved in accident with his £700,000 Rolls-Royce

Tosin Ranks
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0
Following Burnley victory, Marcus Rashford involved in accident with his £700,000 Rolls-Royce

After the Premier League match against Burnley on Saturday evening, Manchester United’s forward, Marcus Rashford, reportedly experienced a car accident, according to The Sun.

Following the game at Burnley’s Turf Moor, Rashford and his teammates were on a team coach heading to United’s Carrington base when his £700,000 Rolls-Royce sustained damage on the road. Fortunately, Rashford himself was unharmed.

Bruno Fernandes, his teammate and captain, came across the accident scene and promptly stopped to offer assistance, as reported.

The police arrived at the scene, but no arrests were made, and no ambulances were required.

Images from the area today reveal traffic cones and barriers surrounding a traffic island strewn with debris.

Before their 1-0 victory over Burnley, courtesy of Fernandez’s halftime goal, Rashford encouraged his teammates to strive for consistency.

He emphasized that achieving positive results could significantly impact the team’s morale and stressed the importance of maintaining consistency, which they lacked in the past.

Marcus Rashford, the English international, owns a £700,000 Black Badge Wraith that was involved in the accident, along with a £390,000 Black Badge Cullinan and a £560,000 Cullinan Blue Shadow.

 

NDLEA eradicates a 16-hectare cannabis plantation

Tosin Ranks
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0
NDLEA eradicates a 16-hectare cannabis plantation

On Sunday, the National Drug Law Enforcement Agency (NDLEA) announced the destruction of a 16-hectare cannabis farm in Ekiti state and the interception of 4,000 kilograms of various illicit drugs in multiple operations across Nigeria.

The NDLEA Director, Media and Advocacy, Femi Babafemi, shared this information via the agency’s website.

According to the statement, between Monday and Wednesday, NDLEA operatives conducted a major operation in Ijesha Isu-Ekiti, Ikole Local Government Area of Ekiti state, where they discovered and incinerated a cannabis farm covering 16 hectares, eliminating approximately 40 tons of cannabis plants.

Furthermore, on Friday along the Okene-Lokoja-Abuja road, NDLEA operatives intercepted two Toyota Sienna buses carrying 1,194 cylinders of nitrous oxide, commonly known as laughing gas, with a total weight of 2,547.2 kilograms destined for delivery in Abuja.

Two suspects, Onyebuchi Ikpozu and Kenneth Igwe, who were transporting the cargo to the nation’s capital, have been apprehended.

One of the Sienna buses, with the license plate KTU 582 HV, contained 99 cartons containing 594 cylinders weighing 1,267.200 kilograms, while the second bus, with registration number FKJ 329 YA, was carrying 100 cartons of the substance with 600 cylinders weighing 1,280 kilograms.

In a follow-up operation in Abuja, a 48-year-old woman named Mrs. Ugo Eluba was arrested with 2,400 ampules of pentazocine injection and 100,000 tablets of Exol-5.

The NDLEA also intercepted a trailer with the registration number LSR 343 XW, concealing 959 kilograms of skunk inside Maggi cartons meant for distribution in Sokoto and Abuja.

Two suspects, Shuaibu Yusif and Abubakar Hussaini, were arrested for illegal possession of 89.1 kilograms of skunks in Jigawa.

In the Federal Capital Territory (FCT), NDLEA operatives intercepted 977 kilograms of skunk in a trailer marked LSR 343 XW on September 20th.

While 959 kilograms of the substance were intended for distribution in Sokoto state, the rest was destined for Gwagwalada.

Two suspects, Auwal Mohammed and Abdullahi Abubakar, were arrested in connection with the seizure, and two other suspects, Mutari Abdulazeez and Ayuba Madaki, were also arrested on September 23rd in the FCT with various quantities of methamphetamine, cannabis, and 13,930 pills of tramadol.

Additionally, Shuaibu Yusif and Abubakar Hussaini were apprehended on September 23rd with 89.1 kilograms of skunk along the Kano-Hadejia road in Jigawa state during a stop and search patrol by NDLEA operatives.

In separate operations in Kaduna and Lagos, the agency seized 6,000 ampules of pentazocine injection, with the suspected owner of the consignment arrested in Bauchi.

Furthermore, 183 kilograms of Ghana Loud, a type of cannabis, were discovered hidden in the body compartments of a bus in Lagos.

On Monday, September 18th, along the Abuja-Forest road in Kaduna, NDLEA recovered 6,000 ampules of pentazocine injection from a suspect named Usman Musa Sidi, who was en route to Bauchi state.

A follow-up operation in Bauchi led to the arrest of the actual owner of the consignment, Dominic Chukwuma, with at least 2.58 kilograms of Diazepam and 36.55 kilograms of pentazocine injection recovered from his residence.

Two other suspects, Inuwa Nuhu and Isiyaku Dahiru Sani, were also arrested the same day in connection with the seizure of 49 blocks of cannabis sativa concealed in a black sack weighing 26 kilograms in a commercial vehicle traveling from Ogere, Ogun state, to Kano.

In another incident, a total of 183 kilograms of Ghana Loud, a specific strain of cannabis, were found hidden in the body compartments of a J5 bus intercepted in Lagos on Wednesday, September 20th.

In Sokoto, on Tuesday, September 19th, NDLEA operatives arrested one Charles Okeke, aged 44, with 473 bottles of codeine syrup in the Unguwar Kosai area of Sokoto.

Additionally, in Edo state, 365 blocks of compressed cannabis sativa weighing 258 kilograms were recovered from a Toyota Camry car with the license plate KTU 886 EZ at Igarra, Akoko Edo LGA.

“The Black Book” Review: A Gripping Action Thriller That Lives Up to the Hype

Ranks-Staff
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“The Black Book” Review: A Gripping Action Thriller That Lives Up to the Hype

In the vast landscape of action movies on Netflix, “The Black Book” emerges as a shining star, an undeniable Grade A standard film that fully lives up to all the hype surrounding it. Directed by the talented Editi Effiong, this gripping narrative revolves around Paul Edima, a character brought to life by the legendary actor Richard Mofe-Damijo. The story unfolds as a grieving deacon takes justice into his own hands, embarking on a relentless mission to confront a corrupt police gang and clear his son’s name, falsely implicated in a kidnapping.

One of the standout performances in this cinematic gem is Ade Laoye’s portrayal of Vic Kalu. Her acting prowess shines through, capturing the essence of her character with remarkable precision. Laoye’s talent is nothing short of remarkable, and her contribution to the film is a testament to her acting prowess.

But the excellence doesn’t stop there. “The Black Book” boasts an ensemble cast that delivers exceptional performances across the board. Shaffy Bello, Ikechukwu Onunaku, Sam Dede, Alex Usifo Omiagbo, Iretiola Doyle, and Bimbo Akintola each bring their A-game to the movie. Their performances are so captivating that there’s simply no room for criticism.

A true icon of Nigerian cinema, Taiwo Ajai-Lycett, adds her touch as one of the cast, her involvement is not only a perfect addition but also reaffirms her status as a revered figure we all grew up admiring.

Richard Mofe-Damijo’s portrayal of Paul Edima is a masterclass in versatility. He effortlessly transitions into the role, proving that he can tackle any character with finesse. His performance, at times reminiscent of the iconic John Wick, showcases his enduring talent, even in his sixties.

Shaffy Bello’s portrayal of Big Daddy is undoubtedly one of the most unexpected and remarkable character turns in the movie. She once again proves her exceptional versatility, demonstrating her ability to seamlessly inhabit a wide range of roles. Her portrayal of Big Daddy adds a layer of complexity to the film that is truly captivating.

A notable addition to the cast is Denola Grey, who takes on the role of Jesu, an assassin. Grey’s performance is nothing short of exceptional, standing out in the film. The way his character meets his fate underscores Editi Effiong’s exceptional directing skills, adding depth to the narrative.

In a landscape of Nigerian cinema where quality can sometimes be elusive, “The Black Book” stands out as one of the most complete Nollywood movies in recent memory. From the meticulous scripting to the impeccable casting and the choice of stunning locations, every element of this film is meticulously crafted and on point. It’s a testament to the dedication and talent of the filmmakers involved, making it a standout achievement in contemporary Nollywood cinema

In conclusion, “The Black Book” is a must-watch for anyone who appreciates top-tier action films. It combines a stellar cast, compelling storytelling, and exceptional direction, creating an unforgettable cinematic experience. This movie is a testament to the talent and dedication of everyone involved in its production, making it a standout addition to the Netflix catalog. Don’t miss the opportunity to immerse yourself in this thrilling world of justice, action, and redemption. “The Black Book” delivers on all fronts and will leave you craving more long after the credits roll.

According to Kate Henshaw, life has lost its significance in Nigeria

Tosin Ranks
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According to Kate Henshaw, life has lost its significance in Nigeria

Nollywood actress Kate Henshaw expresses deep concern over the diminishing value of human lives in Nigeria, highlighting that the country has regrettably reached a point where the significance of life has dramatically declined.

She earnestly cautions against the trend of individuals checking others’ social media profiles solely to see if they have posted about the passing of a celebrity.

Kate emphasizes that death should not be exploited for appearances, gaining popularity, or getting involved in trending social media topics.

She points out that just because some individuals choose not to engage in discussing pressing issues doesn’t imply they are apathetic about them.

Kate further elaborates that when we resort to blaming one another rather than addressing the underlying problems, it signals a distressing disregard for human life in our region, with people only seeking to join the prevailing sentiments.

“Why must we engage in online harassment and criticism, expecting others to conform to our expectations?

I believe we should allow people to cope with challenging situations in their own way instead of unnecessarily dragging them into conflicts,” the actress passionately asserts.

Ms. Dsf secures an AFRIMMA accolade

Tosin Ranks
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Ms. Dsf secures an AFRIMMA accolade

Nigerian-UK DJ, actress, host, and entrepreneur, Ms DSF, continues to elevate her own standards as she secures the title of Best DJ Africa at the prestigious 10th African Muzik Magazine Awards (AFRIMMAs).

The 2023 AFRIMMA winners were announced during a grand ceremony in Texas, US, on September 17th.

Among this year’s standout achievers is Congolese sensation Fally Ipupa, who not only clinched the Best Francophone award but also received a Lifetime Achievement Award.

Nigerian singing sensation Davido’s album “Timeless” was crowned Album of the Year, while Odumodublvck was named the Newcomer of the year.

Additionally, Rema was honored as the Artist of the Year, and his label mate, Ayra Starr, walked away with the Best Female West Africa award.

In her acceptance speech, Ms DSF graciously dedicated her victory to all the talented female artists in the music industry and to the entire continent of Africa.

She expressed her deep appreciation to the organizers for recognizing her talent and dedication.

Ms DSF also highlighted her ongoing “Get Me Lit” World Tour, which has already captivated audiences in over 9 cities across 6 countries since its launch on June 4th, 2023.

Nigeria’s representation at AFRIMMA was strong, with winners including Spyro & Tiwa Savage for Best Collaboration, BlaqBonez for Best Male Rap Act, Flavour for Best Live Act, DJ Freshy K for Best African DJ US, and KCee for the AFRIMMA Legendary Award.

This award firmly establishes Ms DSF as a prominent figure in the music industry, known for her electrifying stage presence, genre-blending talents, and captivating performances.

Her ability to seamlessly fuse diverse musical influences creates an atmosphere that transcends borders and unites fans from all walks of life.

To stay informed about her tour dates and connect with the vibrant community of Ms DSF’s fans, follow her on Instagram.

Don’t miss the opportunity to witness the magic firsthand as Ms DSF continues her global musical journey on the “Get Me Lit” World Tour.

Brace yourself for an unforgettable experience of this rising star’s unparalleled talent and energy!

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