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2021 Annual General Meeting: Honeywell Flour Mills to Advance Technology Infrastructure in 10-Year-Plan

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Honeywell Flour Mills Plc. (HFMP), leading foods manufacturer, has informed shareholders of its 10-year-plan to increase investment in innovative product development and advanced technology infrastructure, with continued focus on operational efficiency and local content development as the key strategic drivers for increasing shareholder value and growing market share during the next financial year.

L-R: Finance Director, Honeywell Flour Mills Plc., Mobolaji Fakayode; Managing Director, Honeywell Flour Mills Plc., Lanre Jaiyeola; Company Secretary, Honeywell Flour Mills Plc., Yewande Giwa and Supply Chain Director, Honeywell Flour Mills Plc., Tayo Ilori during Honeywell Flour Mills Plc’s 12th Annual General meeting at the Civic Centre, Lagos on Thursday, October 14, 2021.

The company reiterated its commitment to sustainable growth within the industry and the provision of affordable staple foods to Nigeria’s fast-growing population, during its 12th Annual General Meeting (AGM) which held at the Civic Centre, Victoria Island, Lagos, on Thursday, October 14, 2021.

Dr. Oba Otudeko, chairman of the Board of Directors, acknowledged the complexities of the past financial year while highlighting the company’s steady growth and its focus on the future, “When the financial year 2020/2021 commenced, few could have imagined what the year had in store for the company and the world.

We responded by working collaboratively towards the execution of our corporate goals, guided by clear priorities; keeping our people safe and motivated, ensuring supply of our food products to consumers across the length and breadth of the country, and caring for the communities where we operate.

Despite the inevitable disruption to our business, we delivered a strong performance in very challenging circumstances.

In respect of the future, Otudeko says, “While we expect market conditions to remain tough and the effects of COVID-19 may be with us for the foreseeable future, our company has shown the capacity to withstand shocks and emerge stronger.

“And with consumer behaviour evolving faster than ever, we are adapting to this new reality by executing with speed in order to deliver competitive returns and meet the needs of our multiple stakeholders.

“We are committed to investing in the capabilities we need, the know-how and the talent to continue to create value.”

Lanre Jaiyeola, managing director, said, Honeywell Flour Mills Plc. has continued to seek innovative solutions for feeding the ever-growing Nigerian population, using affordable and easily accessible foods, while simultaneously combating inflation and rising food prices.

“In the past financial year, we achieved record production and sales volumes driven by consumer food products which also achieved record sales volume. Our investment in a new Pasta factory at Sagamu paid off greatly as we grew Pasta sales by over 40% to meet the generated demand for our Pasta products.”

The learnings from the developments in the past 12 months have encouraged the company to sharpen its focus and embark on a 10-year journey towards creating more value, “Consequently, we have commenced a 10-year evolutionary journey that will see Honeywell Flour Mills transition to become Honeywell Foods.

“Our aim is to offer a portfolio of food products manufactured from a wide range of raw materials drawn from local sources that offer good nutrition and contribute to a healthier and balanced life.

“Our aim also aligns with the Federal Government’s commitment to achieving the United Nation’s 2030 Agenda of Sustainable Development Goals that seeks to ensure access to safe, nutritious and sufficient food.”

“We will continue to focus on our competitive advantage and improve our product offerings in order to exceed our consumers’ expectations while increasing market share, and delivering value to our shareholders,” he stated.

The company recorded an all-time high revenue of N109.5 billion, an increase of 36% over N80.4 billion for the financial year ending March 2021. Increased production output, pioneering new ways of selling, developing relationships with new customers all over the country across traditional and modern trades, and more efficient operational capabilities at its factories in Apapa, Sagamu and Ikeja, were key contributing factors to the revenue increase.

The company’s Operating Profit grew faster than revenue at 39%, from N5.4 billion in FY 2020 to N7.6 billion in FY 2021.

The Board recommended the payment of 7 kobo per share as dividend for the year subject to shareholders’ approval.

FY 2021 was the company’s best performing year ever revenue-wise as it crossed the 100 billion mark for the first time ever, joining an exclusive league of Nigerian companies with over 100 billion Naira annual revenue.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

E-Business

Firm Enhances its Security Awareness Platform with SCORM and PDF Support

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Kaspersky has introduced an update to its Automated Security Awareness Platform, adding full support for PDF and SCORM (Sharable Content Object Reference Model) – the industry-standard protocol for deploying and managing e-learning content.

The enhancement enables organisations to build fully customised cybersecurity training programmes that reflect their infrastructure, risk profile, and internal policies, while continuing to benefit from Kaspersky’s expert-driven security content and phishing simulations.

According to the Kaspersky report titled “Redefining the Human Factor in Cybersecurity”, employees responding to phishing attacks was one of the main causes of cyber incidents in companies worldwide, accounting for 21% of cases among other reasons.

At the same time, additional Kaspersky research reveals that social engineering attacks are predicted to increase more than any other type in the nearest future, with 87% of respondents believing that social engineering attacks will become even more effective due to the use of AI tools.

The new Kaspersky Automated Security Awareness Platform (Kaspersky ASAP) update directly addresses several persistent challenges such as reducing the number of human-related incidents, cutting time spent on managing training programmes, decreasing regulatory and compliance risks, and minimising potential legal or reputational damage stemming from cybersecurity breaches.

With the new SCORM support, the platform becomes even more flexible: companies can now upload, track, and manage their own SCORM-based learning materials directly within the system. In addition, companies can accelerate their programmes by using easier-to-create PDF-formats.

This allows organisations to tailor training to their specific technology stacks and emerging threats targeting their industry or region. Businesses that have already invested in third-party SCORM courses or internal learning development can now seamlessly reuse their existing modules, protecting their prior investments while strengthening their cybersecurity posture.

The combination of Kaspersky’s embedded content built on real cases uncovered by the company’s world-class experts with customers’ PDF materials or SCORM modules enables a true best-of-breed approach to human risk management.

Organisations can supplement Kaspersky’s up-to-date cyberattack scenarios with internal policies, unique workflows, and industry-specific lessons, ensuring training resonates with employees and reflects real operational challenges.

“Human behaviour remains one of the most unpredictable elements in cybersecurity and also one of the easiest for attackers to exploit. By adding SCORM support to Kaspersky Automated Security Awareness Platform, we’re giving organisations the flexibility to build training programmes that truly match their internal realities.

“Combined with Kaspersky’s expert-driven content and real-world attack data, this update empowers companies to create more adaptive, relevant, and impactful awareness programmes than ever before,” comments Svetlana Kalashnikova, Security Awareness expert at Kaspersky.


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NDPC, 60 DPAs Collaborate on Enforcing Privacy Rights in the Use of Al

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Nigeria Data Protection Commission (NDPC) has joined sixty (60) other Data Protection Authorities (DPAs) in endorsing the “Joint Statement on Al-Generated Imagery and the Protection of Privacy.”

NDPC, 60 DPAs Collaborate on Enforcing Privacy Rights in the Use of Al

NDPC

The Joint Statement was coordinated by the International Enforcement Cooperation Working Group (IEWG) of the Global Privacy Assembly.

This underscores the growing concerns regarding the privacy risks posed by Artificial Intelligence tools capable of generating realistic images and videos of identifiable individuals.

The Joint Statement highlights concerns over the misuse of Al-powered tools to create non-consensual imagery, defamatory content, and other harmful materials, particularly affecting children and vulnerable groups.

It calls on organisations to implement strong safeguards, ensure transparency, provide effective content removal mechanisms, and comply fully with applicable data protection laws.

The current effort forms part of a continuum of steps being taken by Nigeria to ensure the responsible use of Al. It will be recalled that the Honourable Minister of Communications, Innovation and Digital Economy, Dr ‘Bosun Tijani, led the initiative for the development of the National Al Strategy.

The NDPC also issued the General Application and Implementation Directive (GAID), which, amongst others, mandates privacy by design and privacy by default in the development and deployment of Al tools.

The National Commissioner/CEO of the NDPC, Dr Vincent Olatunji, has directed that the Nigeria Data Protection Act (NDP Act) Compliance Audit Returns (CAR) by data controllers and processors of major importance will serve as a yardstick for monitoring and evaluating responsible use of Al for data processing in Nigeria.


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Jumia Tech Week 2026 Begins with Tech Deals on Smartphones, Electronics, and Everyday Technology

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Jumia Nigeria has announced the launch of Jumia Tech Week 2026, a two-week campaign offering customers access to discounted technology products across key categories, including smartphones, computing, home entertainment, and wearable devices.

Starting from March 2 to March 15, Jumia Nigeria’s Tech Week 2026 is themed ‘Tech Products for Less’ – a deliberate commitment by the e-commerce giant to drive down the cost of technology products for Nigerian consumers. The campaign offers significant price reductions across key product categories, enabling more Nigerians to access the devices they need at prices that reflect the company’s dedication to affordability and consumer value.

Jumia Tech Week will feature deals across a wide range of product categories, including mobile phones, computer systems and accessories, televisions and audio equipment, gaming products, home appliances, portable power solutions, health technology,, and wearable devices.

Customers will also have access to curated recommendations, including top smartphone deals, must-have accessories, gaming essentials, and home technology upgrades.

According to Temidayo Ojo, CEO of Jumia Nigeria, the campaign reflects Jumia’s broader commitment to making everyday technology more accessible to Nigerians.

“Technology has become an essential part of everyday life, and access to the right devices enables more people to participate fully in the digital economy,” said Ojo. “At Jumia, we remain focused on expanding access and improving the shopping experience as we continue to build Nigeria’s everyday retail destination.”

The campaign will include a range of customer engagement initiatives such as flash sales, brand days, anchor deals and interactive activities designed to enhance the online shopping experience.

Special highlight periods, described as Explosion Days, will take place on March 6 and March 13, featuring limited-time offers across selected technology categories. Customers will also be able to participate in interactive activities, including product-based games, treasure hunts,, and live shopping sessions during the campaign period.

The campaign will feature participation from leading brands including Oraimo, Silver Crest, Samsung, Ecoflow, Nivea and Aeon, offering customers a wide selection of technology, household and lifestyle products. Early access promotions already begun during the teaser period from February 16 to March 1, allowing customers to preview selected deals ahead of the official launch.

Jumia Tech Week forms part of the company’s broader strategy to expand e-commerce adoption by improving access to essential products and enhancing the customer experience across its platform. As Nigeria’s e-commerce market continues to grow, Jumia remains focused on strengthening its product assortment, logistics capabilities, and digital experience to serve customers better nationwide.

Customers can participate in the campaign by using the Jumia mobile app or visiting the Jumia website and following the conversation online using #JumiaTechWeek.

 


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