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

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.
E-Business
Research ICT Africa Develops AI Framework for Africa

Non-profit think tank and research network Research ICT Africa (RIA) has developed the Just AI Framework of Inquiry. The contextually-grounded and action-oriented position paper aims to help African policymakers, researchers and technologists navigate the complexities of developing artificial intelligence (AI) systems.

Developed by RIA executive director Pria Chetty and RIA deputy director Dr Araba Sey, as part of the second phase of the Africa Just AI project, the framework responds to the urgent need to ground AI policy in Africa’s historical and contemporary contexts.
As AI technologies proliferate across every sector of society, the Just AI Framework of Inquiry reframes global debates on ethics and fairness by centring justice as the fundamental quality AI systems must embody, according to RIA.
Rather than replicating governance models designed for high-income economies, the framework calls for an approach that reflects Africa’s diverse democratic systems, development priorities and epistemic traditions, it says.
Through nine interrelated inquiries, from structural inequality and data justice, to democratic governance and environmental sustainability, the Just AI Framework of Inquiry equips policymakers, technologists and researchers with the tools to design and evaluate AI systems that actively promote equity, inclusion and care.
“The framework’s justice-oriented lens connects human rights, ecology and economy, guiding both research and regulatory reform to ensure AI advances public interest outcomes. It aims to move beyond aspirational ethics toward actionable mechanisms for embedding justice across the AI value chain,” notes Dr Sey.
The framework provides a holistic and multidisciplinary approach, moving beyond a narrow focus on technological risk to examine the interplay of AI with sustainable development, security, economic policy and governance.
“It recognises that effective AI governance requires a multidisciplinary approach, drawing on expertise in law, data science, economics and social sciences. This is crucial for developing integrated economic policies and governance frameworks that can address the full spectrum of AI’s societal consequences from labour market transformations to the regulation of intellectual property and competition,” Dr Sey adds.
The next phase of this project will test the framework’s application through participatory engagements with policymakers, civil society and research partners.
According to RIA, tech regulation, when developed through a justice-oriented lens, has the potential to unleash the developmental benefits of advanced innovation. Likewise, when AI systems are governed through justice-oriented frameworks, they can deliver equitable outcomes across diverse societies.
Yet, RIA is of the view that the dominant approaches to AI governance today − anchored in ethics, fairness and responsibility − remain inadequate. They are largely self-regulatory, driven by Global North actors, and designed for high-income countries with vastly different social, political and infrastructural realities. RIA’s research shows these frameworks often fail to recognise the uneven socio-economic contexts that shape life across the African continent.
“We have spent the past three years engaging deeply with this challenge: asking what it means to govern AI in ways that are truly just for Africa,” Chetty explains.
“We see a pressing need for a more deliberate and contextualised approach to AI governance; one that allows African countries to shift from being mere consumers of AI tech, to becoming co-creators of AI systems that reflect our development priorities, democratic values and lived experiences.
“Justice in AI requires more than inclusive aspirations. It demands redress of historical harms and inequities, attention to extractive data and value flows, and a commitment to ensuring that AI’s transformative potential is shared, not concentrated.”
E-Business
WDC, EC-Council Launch Ethical Hacking Programme

Wild Fusion Digital Centre (WDC), a technology training center based in Lagos and EC-Council, a global leader in cybersecurity certification have partnered to officially launch an advanced ethical hacking programme.

Pix credit…. EC-Council
The announcement was made at a ceremony at WDC headquarters attended by training officials and local business representatives.
The initiative is designed to meet the growing demand for qualified cybersecurity professionals in Nigeria and across Africa.
The programme offers internationally recognized certifications, including Certified Ethical Hacker (CEH), Certified SOC Analyst (CSA), and Blockchain Finance Certified (BFC).
WDC stated the training is conducted in-person and emphasizes practical application, ensuring participants master techniques for detecting and correcting vulnerabilities in computer systems.
The center noted that the training allows individuals and corporate teams to obtain these international-level qualifications without leaving the country.
WDC highlighted that the need for the training is urgent due to the increasing complexity of cyberattacks and a shortage of qualified experts.
The Cyber Security Experts Association of Nigeria (CSEAN) has pointed to a persistent talent deficit, while the U.S. Bureau of Labor Statistics projects a 33% growth in cybersecurity jobs between 2023 and 2033.
The training programme is being launched amid significant growth in the digital sector.
An analysis by Mordor Intelligence estimates the value of the African cybersecurity market at $0.6 billion in 2024, with projections to reach $1.28 billion by 2029, driven by a compound annual growth rate of 13.5% over the period.
E-Business
Konga Yakata: Konga Announces Dates for Nigeria’s Biggest Black Friday Sale

Nigeria’s leading composite e-commerce giant, Konga, has officially announced the dates for its highly anticipated Konga Yakata 2025, Nigeria’s biggest annual Black Friday sale.

The month-long shopping festival will run from Saturday, November 1st to Sunday, November 30th, 2025, promising shoppers across Nigeria a more exciting, rewarding, and value-packed experience than ever before.
To build anticipation, Early Bird Deals kicked off on October 26th and will run through October 31st, giving early shoppers a head start on some of the year’s most incredible bargains. This exclusive pre-sale window allows customers to secure limited-time offers before the official Yakata sale commences.
Since its inception, Konga Yakata has redefined Black Friday shopping in Nigeria. Evolving beyond a retail event, it has become a nationwide celebration of value, convenience, and trust, firmly positioning Konga as the go-to destination for millions of Nigerians seeking genuine products at the best possible prices.
According to the management of Konga, the 2025 edition of Yakata will surpass previous years with new innovations, expanded product categories, richer customer experiences, and unmatched discounts. This year’s event will feature engaging activities such as Treasure Hunts, Combo Day, Week of Wonder, Flash Sales, Live Auctions on Konga Radio 103.7FM, Giveaways, Freebies, and the same-day delivery option on KongaNow items, ensuring every shopper enjoys an unforgettable experience.
The campaign will also extend across multiple channels, online at www.konga.com and in Konga Retail Stores nationwide, offering customers flexible shopping options and exclusive in-store deals.
A wide range of products will be available across various categories, including Laptops, Desktops and Accessories, Mobile Phones and Tablets, Home and Kitchen Appliances, Electronics, Fashion, Groceries, Baby, Kids & Toys, and Wines & Spirits. Shoppers can expect massive discounts on top brands, including HP, Samsung, Apple, Haier Thermocool, iPower, Tecno, L’Oréal, Zinox, Nexus, Infinix, Nokia, iTec, Polystar, Nivea, and Lenovo, among others.
In line with its mission to promote financial inclusion and digital convenience, KongaPay is offering shoppers an instant 10% discount when they pay with their KongaPay wallet during the Yakata sale. The company has also encouraged customers to download and activate their KongaPay app ahead of the sale for a seamless checkout experience, extra savings, and exclusive wallet-based deals.
Speaking on the upcoming sale, the management reaffirmed Konga’s commitment to customer satisfaction, genuine products, and affordable pricing. “Konga Yakata is not just a sale; it’s a celebration of trust and value,” a company spokesperson noted.
“Our goal is to ensure that every Nigerian, regardless of their location or budget, can experience the joy of shopping for authentic products at unbeatable prices. This year, we are going even further with more deals, more engagement, and more innovation to delight our customers.”
Over the years, Konga Yakata has become an integral part of Nigeria’s retail calendar and is widely regarded as the benchmark for Black Friday sales in Africa. It has empowered millions of customers to access premium products, strengthening Konga’s position as a trusted household name in e-commerce.
As the countdown begins, Nigerians are urged to stay alert, prepare their shopping lists, and keep their devices close. Shoppers are also encouraged to follow Konga’s social media channels for firsthand updates, flash alerts, and exclusive Yakata offers.
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