News
COVID 19: Coca-Cola Empowers 5000 Wowen for Economic Recovery
In a bid to upskill and empower women through recovery from the effects of the coronavirus pandemic in Nigeria, The Coca-Cola Company through its philanthropic arm, The Coca-Cola Foundation, has partnered with Nigeria-based NGO, Karis and Eleos Hand of Hope Foundation, to help equip 5000 women with relevant vocational skills and business training.
The grant, awarded by The Coca-Cola Foundation, represents efforts to continually make a difference in the lives of women who remain pillars of the society; by providing business-focused trainings through its local implementing partner, Karis and Eleos Hand of Hope Foundation, with the purpose of enhancing business acumen and scaling up micro enterprises to guarantee sustenance for themselves and their families.
The capacity building program tagged “Catalyst for Change” will be implemented by Karis and Eleos Hand of Hope Foundation across five communities in Lagos state and will directly impact the lives of 5000 women across Iwaya, Oworonshoki, Sangotedo, Magboro and Ogijo communities with 1000 of these women receiving funding and support to set up their small-scale enterprises.
Business training modules to be delivered by experienced facilitators will focus on personal & product branding, business foundations and basic accounting while artisanry trainings will cover courses in wig making, make-up, fashion and designing, household essentials, shoe making, amongst others, over the course of a five-month period with the program kicking off this August.
Other partners providing support to the program include The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).
Speaking on this program, Bukola Bamiduro, founder of Karis and Eleos Hand of Hope Foundation, expressed her gratitude for the grant.
She said, “Poverty is the greatest threat to our existence as it fuels crime, despair and vices.
“The impact of COVID-19 has further escalated poverty in Nigeria and so we are delighted with this partnership and the execution of the program as these women will become catalysts in their communities, pulling their families out of poverty”.
Also commenting on the program, Nwamaka Onyemelukwe, manager, public affairs, Communications and Sustainability, Coca-Cola Nigeria Limited, remarked, “This is yet another way through which our Company is passionately contributing to the recovery of our economy following this devastating pandemic.
“Our desire is to continue to economically uplift as many women as possible in Nigeria as we recognise their critical roles in society.
“We are confident that this new partnership will go a long way in supporting women and providing them a means of livelihood through the recovery phase”.
Representing the First lady of Lagos State, Her Excellency Ibijoke Sanwo-Olu, Wife of the Attorney-General of Lagos State, Mrs. Olabisi Onigbanjo, said, “It is particularly reassuring that this empowerment initiative is coming at a time the country is contending with the severe effects of the COVID-19 pandemic.
“Through this initiative, 5,000 women across five communities will be empowered with business and life skills needed to escape from extreme poverty. When you empower women, you empower the whole family and by extension the nation.”
Karis and Eleos Hand of Hope Foundation is a non-profit established in 2017, with a vision to empower women and girls across the rural demographic.
The award of this grant will help in achieving the shared objective of The Coca-Cola Foundation to grow a sustainable pipeline of female talent and empower women, ultimately creating a sustainable society.
Through its ambitious goal of empowering 5 million women across the world by 2020 under its 5by20 initiative, The Coca-Cola Company has so far empowered 4.6 million women with over 420,000 Nigerian women directly impacted.
The Company through its philanthropic arm, The Coca-Cola Foundation, has contributed more than $1 billion over the past 36 years to help protect the environment, promote recycling, empower women and enhance communities around the world.
Patience Okala, the National Coordinator and Chief Executive Officer of the Nigeria AfCFTA Coordination Office has urged African countries to stop exporting raw materials and instead focus on adding value to its natural resources if it is to fully harness the opportunities offered by the African Continental Free Trade Area.
She stated this on Thursday at the Streamsowers & Köhn 20th Anniversary Business Forum, where she stressed that value addition and beneficiation are essential to Africa’s industrialisation and long-term economic growth.
According to a statement issued on Friday by the Nigeria AfCFTA Coordination Office, she said the AfCFTA goes beyond the elimination of tariffs, serving as a framework for industrialisation, value addition, and job creation across the continent.
“AfCFTA is not only about tariffs; it is also about value addition. Africa has to stop exporting raw materials. We need to add value and ensure that beneficiation is done on the continent,” she said.
Okala also said Africa’s economic transformation would depend on the effective implementation of the AfCFTA rather than on the signing of trade agreements alone.
“We have moved beyond negotiations. The success of AfCFTA will be measured by the extent to which businesses can access new markets, trade seamlessly across borders, and benefit from the opportunities created by the agreement,” she said.
She noted that Nigeria had intensified efforts to implement the agreement under the leadership of the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, including the development of simplified AfCFTA guides in six languages to help businesses understand and take advantage of opportunities under the trade pact.
Okala called for stronger collaboration among governments, regulators, and the private sector to eliminate barriers to trade and investment and build a truly integrated African market.
“As we move from policy to implementation, our collective responsibility is to ensure that the opportunities created by AfCFTA become practical realities for businesses, particularly MSMEs, women-owned enterprises, and young entrepreneurs across the continent,” she said.
Cisco is exploring artificial intelligence (AI)-powered solutions to support smallholder farmers in Nigeria, as part of efforts to expand digital inclusion and technology adoption.
The initiative focuses on improving agricultural productivity through accessible, data-driven tools.
The move aligns with growing collaboration between Nigeria and the United States under the Commercial and Investment Partnership, which prioritises the digital economy, agriculture and infrastructure.
Speaking at the 2026 World Business Chicago, Brian Tippens, chief social impact and inclusion Officer at Cisco, said the company is assessing practical AI applications to help farmers combine local knowledge with data insights.
He said Cisco is exploring tools such as AI-enabled WhatsApp communities, geospatial mapping and weather intelligence to support day-to-day farming decisions.
The approach reflects a shift towards low-cost, mobile-first solutions suited to rural environments.
Tippens added that the Cisco Foundation is investing in early-stage startups developing technologies for local agricultural challenges.
Industry analysts note that AI adoption in emerging markets depends on locally relevant solutions, rather than large-scale enterprise deployments alone.
Beyond agriculture, Cisco plans to expand digital skills development in Nigeria through programmes such as the Cisco Networking Academy’s One Million Learners initiative.
Tippens said the programme also supports partnerships with organisations working with persons with disabilities, including those developing tools for people with visual impairments.
He added that Cisco’s social impact strategy aims to improve access to technology and promote inclusion, including in conflict-affected regions such as Borno State.
Cisco’s initiatives form part of broader efforts to link digital skills, connectivity and AI adoption to economic development in Nigeria.
Africa Prudential Plc has reaffirmed its commitment to sustainable growth and digital transformation after posting another strong half-year financial performance, driven by robust growth in its core registrar business, technology-driven solutions and increased activity in Nigeria’s capital market.
Speaking during the company’s H1 2026 Investor Call on Tuesday, the management outlined plans to deepen revenue diversification and accelerate innovation as part of efforts to reduce reliance on interest income and strengthen long-term profitability.
The company reported gross earnings of ₦4.28 billion for the first half of 2026, representing a 27 per cent increase from ₦3.34 billion recorded in the corresponding period of 2025.
Profit before tax rose by 22 per cent to ₦2.41 billion, while profit after tax climbed 18 per cent to ₦1.59 billion.
Net operating income also increased by 27 per cent to ₦4.21 billion, while total assets grew by 13 per cent to ₦46.53 billion. Shareholders’ funds similarly rose by 13 per cent to ₦12.52 billion.
According to the company, the impressive performance was driven by sustained growth in its registrar business, increased corporate actions across the Nigerian capital market, stronger treasury earnings supported by the prevailing interest rate environment and rising adoption of its technology-enabled products and services.African Mineral Wealth
Managing Director and Chief Executive Officer, Dr. Catherine Nwosu, said Africa Prudential is steadily evolving from a traditional share registrar into a diversified technology and business solutions provider serving the broader capital market ecosystem.
Addressing concerns from investors about the sustainability of earnings if interest rates decline, Nwosu said the company was deliberately expanding its non-interest income sources.
“Interest rates influence our treasury income positively, but that is why we are deliberately diversifying our revenue streams. Our strategy is to grow recurring fee-based business lines such as our digital solutions, Know Your Customer (KYC) services, AGM technology, probate services and the SabiVest mobile app. Over time, this will reduce our reliance on interest income and create a more balanced and resilient earnings mix,” she said.
She noted that increasing activity in the Nigerian capital market presents fresh opportunities for technology-driven solutions.
“With capital market activity nearly doubling over the past year, demand for seamless digital investor experiences, improved market efficiency and stronger compliance standards continues to grow. We are investing in technology-enabled solutions that position us to capitalise on these opportunities while delivering sustainable value to our shareholders,” she added.
Looking ahead, the company identified five strategic priorities for the second half of 2026, including driving sustainable growth through its core registrar business and new revenue streams, accelerating technology-led product innovation, strengthening brand leadership, investing in talent development and reinforcing corporate governance.
The investor call attracted institutional investors, shareholders, analysts, regulators and other capital market stakeholders, reflecting strong interest in Africa Prudential’s earnings outlook, revenue diversification strategy and long-term growth plans.
Police Uncover Fake Diplomatic Number Plate Syndicate in Abuja
Davido Shares Past Suicidal Thoughts, Drops Oriadé Album
Gavi Okays $500m for Vaccines, PHCs in Nigeria
82% of Organizations Concerned about AI Risks Even as Adoption Accelerates – Survey Reveals
The Journey to Financial Freedom: Priscilla, a PalmPay Agent Now Owns a Store
NRC, Ponzi Scheme Collapses Resulting Loss of Billions of Naira
EFCC Busts NIS Visa Overstay Racket, Uncovers N700m in an Account
From Scarcity to Scale: What Africa Can Learn from India’s Agricultural Transformation
Tokenization, Blockchain Technology will Transform Financial Institutions – IMF
BON Establishes Six Ad Hoc Committees to Modernize Broadcasting
Telecom2 days agoClydestone Ghana Sues MTN Over Mobile Money
News2 days agoIHS Nigeria Donates Business-Support Equipment to Empower People with Disabilities in Abuja Community
E-Business2 days agoKaspersky Uncovers New Mirage Kitten Malware Used in Cyber-espionage Campaign Across Africa, Others
News2 days agoAfrica Prudential Unveils Digital Growth Strategy
E-Financial2 days agoAfreximbank Raises $1.5b in Largest-ever Bond Issuance
E-Financial2 days agoCBN Fines Banks N430m for Ignoring Customers’ Complaints
E-Financial2 days agoSEC Begins Full e-Registration for Capital Market Operators
E-Financial2 days agoElon Musk Launches Invite-only X Money with Visa Debit Card