Inside Business Africa INSIDE BUSINESS AFRICA APRIL 2019 - Page 13

News Now hands. Powerful hardware configuration with latest Rocket Charge feature CAMON i4 is not just about superb camera capabilities and good looks but also comes with power and performance. The smartphone uses 2.0 Ghz Helio A22 64Bit QuadCore processor in 2+32GB & 3+32GB storage variant while Helio P22 Octacore processor in 4+64 GB storage variant. The ROM storage memory is expandable up to 256GB. It is a dual SIM smartphone with dedicated microSD card slot and allows consumer to use 4G VoLTE in both the SIM cards at the same time. The device comes with a long battery life of 3500mAh high capacity battery that lasts even longer through optimization by AI Power management feature of smarter HiOS 4.6 software. Another feather on the cap is 'Rocket Charge' feature that gives users 2 hours calling from just 10 min charge. Future-ready HiOS 4.6 based on Android 9 Pie CAMON i4 is equipped with HiOS 4.6 which uses Artificial intelligence to give smartphone users more intelligent & intuitive navigation basis in-depth mining and matching according to people's preferences and habits of using different applications. And in turn optimizes the battery life by intelligently prioritizing the app you use most and adjusting the power saving mode of hardware such as APP, Sensor and CPU. As smartphone privacy and security are key these days, it comes with advance AI led face recognition technology which provides quick Face Unlock under 0.3 sec. Another highlight of CAMON i4 is its unique localized feature of an anti-oil fingerprint sensor that provides hassle free access to the phone under all Indian lifestyle and weather conditions. Exceptional TECNO smartphones come with an exceptional promise of "111" under which a consumer is entitled to a 1-time screen replacement for six months, 100 days' free replacement, and 1- month extended warranty on any TECNO device that he/ she buys. The new smartphone is present across 35000+ retail touchpoints and 960+ service touchpoints PAN India. I N S I D E B U S I N E S S A F R I C A Raking in the money Zenith Bank, UBA, 8 Others Raked In N927.69bn Profits In 2018 Peter Amangbo, Managing Director/CEO, Zenith Bank T en banks at the end of the 2018 financial year raked in N927.69 billion profits after tax (PAT), an 8.4 per cent increase in profit compared to what they jointly made in 2017, as many banks increased their lending to customers in the course of the year. A look at the full year audited results of Zenith Bank, Guaranty Trust Bank, Ecobank Transnational Incorporated, Sterling Bank, Fidelity Bank, Access Bank, United Bank for Africa, Stanbic IBTC Holdings First City Monument Bank and Wema Bank showed that while a few banks recorded decline in their lending to customers, many had grown their loan book and all of them had recorded increases in their deposit base. Net profit of the 10 banks had grown from N855.64 billion in 2017 to N927.69 billion in 2018 with all with the exception of ETI recording increases in their profit. ETI had seen its profit after tax drop by 14.5 per cent to N249.01 billion in 2018 from N291.26 billion in 2017. FCMB and Stanbic IBTC had recorded the highest percentage increase in profit, posting 73.8 and 53.9 per cent rise in their profit after tax respectively. FCMB which has a deposit base of N821.74 billion and a loan book of N633.03 billion had seen its profit after tax rise from N8.6 billion to N14.97 billion in 2018. Stanbic IBTC's PAT had risen from N48.38 billion in 2017 to N74.44 billion 40 u t APRIL1 4 - 28, 2019 Kennedy Uzoka, Group Managing Director/CEO of UBA in 2018 as its loan book rose from N372.08 billion to N432.71 billion as at December 31, 2018. Total loan book of the 10 banks at the end of the 2018 financial year amounted to N13.918 trillion, a 9.9 per cent improvement compared to N12.659 billion that was recorded as at December 31, 2017. Deposits however grew at a faster rate, rising by 17.1 per cent to N21.41 trillion as at the end of the last financial year as against N18.28 trillion that had been deposited in the banks in 2017. ETI had the largest deposit of the 10 banks pulling N5.955 trillion across the African continent. It was followed by Zenith Bank and UBA which had pulled N3.69 trillion and N3.35 trillion deposits as at December 31, 2018. Zenith bank had grown its deposit base from N3.44 trillion as its loan book declined from N2.1 trillion in 2017 to N1.82 trillion at the end of the 2018 financial year. UBA's loan book had however risen alongside its deposit base and its lending to customers rose from N1.65 trillion to N1.72 trillion. The old Access Bank had pulled N2.56 trillion in deposits, a 14 per cent increase compared to N2.24 trillion deposits it had as at the end of the 2017 financial year. The bank which just concluded a merger with Diamond Bank to emerge Nigeria's biggest bank had a loan book of N1.99 billion before its merger. THE MAGAZINE 0F THE CORPORATE WORLD according to Mr Rai, is currently in direct contact with over 40,000 farmers a n d a p p r ox i m a t e l y 1 0 0 0 r i c e cooperative societies across the country, and with its flagship training programs for intensive farming at no additional cost to the farmers and but with maximum productivity thereby increasing economic scaling in Rice Farming to over 36,000 out grower through its well-established 16 (Sixteen) "Popular Aggregation Centre's" in Adamawa, Taraba, Benue, Niger, Gombe, Jigawa, Sokoto, Kebbi, Kano Zamfara and Kwara. Speaking at the event, Stallion Group CEO Anant Badjatya spoke on the commitment of Stallion Group to the growth of Nigerian economy while contributing to government's efforts on backward integration. He further spoke on the drive of Popular Farms to do things right, hence the groundbreaking ceremony of the project in Kano. Goal of Stallion Group and Popular Farms is to spearhead and lead the Rice Revolution in Nigeria. The Group CEO, Mr. Badjatya commended the inventiveness of President Muhammadu Buhari and the policy direction of the Agriculture sector been driven by the Honourable Minister, Chief Audu Ogbe and the Central Bank of Nigeria led by Godwin Emefiele, remarking that Popular Farms rice is already making the difference and bringing positive benefit to the Nigerian Economy. He urged the Federal Government not to relent in its quest to provide an enabling environment for agric sector that in turn helps in reducing unemployment and generate revenue for the government. In this regard, he lamented the unabated smuggling of rice via the countries porous borders and praised the efforts of the Rice Processors Association of Nigeria (RIPAN) for its fight against this scourge. Mr. Badjatya said the group is steadfastly in support of all efforts aimed at stopping the smuggling menace. He mentioned the group gave some 150 vehicles to Nigerian Customs Stallion Group CEO, Anant Badjatya S e r v i c e s t h r o u g h R I M I DA N association at a discount of Naira 250 m in a single transaction as its contribution towards war against smuggled rice. Speaking further, the Group CEO noted that the menace of smuggling not only affects Nigeria's potentials in rice, but also extends to the smuggling of new and used cars which is currently happening with impunity, thereby putting at risk thousands of much needed Nigerian jobs. Speaking at the ceremony, the Honourable Minister of Agriculture and Rural Development, Chief Audu Ogbe, represented by Mallam Munir Mohammed praised Popular Farms and Mallam Munir Mohammed t 13 u APRIL1 4 - 28, 2019 African Trade Mills Limited for its ingenuity and contributions not only to the agric sector in Nigeria but the efforts and commitment to reducing unemployment and empower farmers. He pledged the Ministry's commitment to continue to support Popular Farms as according to him "what we saw today is in line with federal government's policy of self sufficiency in Rice production" On the issue of smuggling the minister's representative assure that "government at all levels are working on several options, including diplomacy, towards curbing the menace so as to ensure the issue does not escalate more than this" and requested that that company continue on that contributory part as the government appreciate their effort a great deal. The Central Bank Governor Godwin Emefiele, represented by Hassan Tom, speaking in the same vein, commended Popular Farms and Mills Limited for making effective and positive difference in the agric sector with strong investment and commitment to Nigeria's economy "l have seen what Popular Farms means in terms of Rice Production and the good relationship with farmers and the community, and how they continue to empower farmers at their sixteen centres all over Nigeria and it is in tandem with federal government's policy on ag riculture and the improvement of the economy" He further pledged the CBN's commitment to continue to support Popular Farms and requested the firm to come forward for any assistance that may further their investment and contributions to Nigeria. The elated representative of the Emir of Kano, Alhaji Yusuf Ibrahim on sighting the huge investment and the massive factory put in place by Popular Farms, thanked Popular Farms & Mills and the Management of Stallion Group for choosing Kano for such massive investment which is touching the lives of the people not only in Kano but across the country. According to him, the fact that farmers are benefiting from u