News
ID Africa Acquires TheNETng to Form Marketing, Media and Technology Powerhouse
ID Africa, a leading Nigerian digital agency is acquiring NET Newspaper Limited (NNL), seizing the opportunity to expand its frontiers in the media and marketing communications industry.
The acquisition will see ID Africa take up controlling shares and oversee the management of properties such as TheNETng, NECLive, 234Star, Neusroom, Orin, NETshop and other NET News properties.
With an average year-on-year revenue growth of 40% , Info Digital Africa (ID Africa), a Creative Communications and Digital Marketing company founded in 2015 is one of the fastest growing digital marketing, media and communications companies in Nigeria.
Over the years, the digital agency has built a commendable track record which includes executing over 150 successful marketing campaigns, contributing to the growth of various international brands, as well as creating over 20,000 hours of video content, which have amassed over 15 million views across digital platforms.
Upon conclusion of this business combination process, ID Africa will become a formidable 360 marketing communications and media company using technology and creative content to connect brands and individuals with their target audiences.
Under its new operation, ID Africa will look to deliver technology solutions, consumer products, marketing communications services, as well as media and publishing services through its news, entertainment and lifestyle content platforms.
In addition to the acquisition, Femi Falodun, currently COO at ID Africa, has been announced as the new Chief Executive Officer of ID Africa.
Femi Falodun, In a statement released to the media, said, “The alliance between ID Africa and TheNETng is a strategic move intended to bring these great companies together in order to create an all-in-one communications entity within Africa’s marketing, media and tech industries.
“By bringing together the best of our resources, capabilities and know-how, we will deliver the industry’s best marketing communications and media services for clients, as well as excellent technology solutions and products for a wide range of consumers.
“Furthermore, with operational efficiency and continuous innovation, we can create greater value for our customers, employees, investors and partners.”
Commenting on the new development, the COO of NET Newspaper Limited, Jide Taiwo said, “We believe our new relationship with ID Africa will pave the way for both companies to progress further towards our goal of being the best marketing communications and technology business Africa has to offer.
“This is an audacious dream but it is a dream both companies are committed to making a reality.
“We are proud to be part of the new ID Africa, and we look forward to the amazing things we will accomplish together.”
Both organizations are part of BHM group founded by one of Nigeria’s leading media and marketing communications entrepreneurs, Ayeni Adekunle. According to him, “The acquisition is part of a long-term strategy to ensure that our businesses continue to grow and evolve in a dynamic environment.
“By positioning ourselves appropriately for the future, we can ensure that the group’s constituent brands continue getting results and creating value.”
This acquisition will bring together an extensive range of experienced personnel and expertise in the marketing and media industry.
News
Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria
Legit.ng recently joined forces with the Shade of Life Foundation to become a voice of autism, and drive advocacy for improved media support during Autism Awareness Month.
Conversations around media support exploration was led by Joseph Omotayo, head of Department for Human Interest Stories at Legit.ng, and Dr. Eziafakaku Nwokolo, founder and CEO of the Shade of Life Foundation,
This partnership is a response to the concerns raised by organizations like the Shade of Life Foundation about the level of support received from the media in discussing autism as a disability.
While other disabilities may receive attention, autism, with its critical developmental implications often lacks adequate representation in mainstream media.
Recognizing the importance of addressing these concerns, Legit.ng took proactive steps by integrating itself into the essence of autism awareness.
It facilitated a one-hour workshop with Dr. Nwokolo, the founder of the foundation, to deepen our understanding of autism, its various spectrums, and the language boundaries associated with it.
Other steps we took in advocating autism awareness in the media, can be seen in our attached press release.
Legit.ng believes that by amplifying the voices of autism and advocating for better media representation, we can contribute to creating a more inclusive and accepting society for all.
News
As Nigeria Struggle, Tanzania Turns off Power Plants Due to Excess Supply
While 85 per cent of Nigeria is in darkness, Tanzania, an African country has shut down five hydroelectric stations in a bid to reduce excess electricity in the national grid.
Kassim Majaliwa, prime minister, Tanzania, has said the main plant, Mwalimu Nyerere Hydroelectric Station, alone generated enough electricity to power major cities, including Dar es Salaam, the country’s commercial hub.
It is the first time Tanzania, which suffers chronic power shortages, has closed hydroelectric stations due to excess production.
“We have turned off all these stations because the demand is low and the electricity production is too much, we have no allocation now,” an official from state-run power company, Tanesco, said.
The 2,115MW Julius Nyerere Hydropower Dam is said to be almost filled with water following heavy rains that started early this year.
Meanwhile, while the country has an installed capacity of 1,938MW and the grid installed capacity of 1,899MW, Nigeria which has an installed capacity of 13,000MW is struggling to electrify 85 per cent of its electricity consumers.
News
President Tinubu Appoints Jim Ovia as Student Loan Fund Chairman
President Bola Tinubu has approved the appointment of Jim Ovia, renowned banker and businessman, as the Chairman, Board of the Nigerian Education Loan Fund.
Ovia’s appointment is contained in a State House statement titled, ‘President Tinubu appoints Jim Ovia as Chairman of the Nigerian Education Loan Fund,’ and issued on Friday by Ajuri Ngelale, special adviser to the President, Media & Publicity.
The statement noted that “Ovia is the founder of one of Nigeria’s leading banks and a respected business leader, with a surfeit of efforts and benefaction towards nurturing and empowering young Nigerians.
“He is an alumnus of Harvard Business School and holds a Master’s in Business Administration from the University of Louisiana.”
The National Student Loan Programme is a pivotal intervention that seeks to guarantee sustainable higher education and functional skill development for all Nigerian students and youths.
The Nigerian Education Loan Fund, the implementing institution of this innovation, demands excellence and Nigerians of the finest professional ilk to guide and manage.
“The President believes Mr. Ovia will bring his immense wealth of experience and professional stature to this role to advance the all-important vision of ensuring that no Nigerian student suffers a capricious end to their pursuit of higher education over a lack of funds,” the statement partly read.
Ovia’s appointment will also ensure “that Nigerian youths, irrespective of who they are, have access to higher education and skills that will make them productive members of society and core contributors to the knowledge-based global economy of this century.”
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