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Igho, Young Nigerian Billionaire Tops List of Leaders of Tomorrow

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The world renowned Choiseul Institute for international politics and geo-economics has just released its ranking of the top 100 young economic leaders of Africa with Igho Charles Sanomi topping the rank of 100 economic leaders of tomorrow.

The annual independent study ‘Choiseul Africa 100’  by the Parisian institution, takes into account the economic leaders of Africa, up to the maximum age of 40, who will play a major role in economic development in the African continent in the near future. 

The ranking is the result of work conducted over several months, which appealed to many experts and specialists on the continent, the result of which ranked Sanomi, CEO of Taleveras Group at the top of the league table.
 
The full list includes successful business leaders, entrepreneurs, investors and drivers of innovative projects on the African Continent.

They embody the dynamism and renewal of a whole continent and carry the hopes of an entire generation.
 
In classifying the selected profiles, the independent research centre weighted several criteria including: the image and the reputation; background and skills; power and function; influence and networks; potential and leadership.

The sum of points obtained in the different categories of criteria determined the final standings. 

Overall Nigeria, Kenya, Morocco, South Africa and Cameroon were the most represented countries in the ranking.
 
Mr. Sanomi on being informed of this prestigious accolade said: “It is a great honour to have been included in the rankings and to be amongst such esteemed colleagues from around the continent. All of us have important roles to play in the development of the continent in the years to come. I am pleased to be able to perform my part in the economic development of the continent as a whole.”
 
The top ten on the Choiseul 100 Africa list are: Igho Sanomi, Taleveras Group, Nigeria; Mohammed Dewji, METL, Tanzania;  Hisham El Khazindar, Citadel Capital, Egypt; Isabel Dos Santos, Unitel International Holding, Angola; and Tidjane Deme, Google, Senegal

Others are: Nomkhita Nqweni, ABSA Captial, South Africa; Mehdi Tazi, Saham Assurance Morocco, Morrocco; Marlon Chigwende, The Carlyle Group, Zimbabwe; Ashish Thakkar, Mara Group, Uganda; and Janine Diagou Wodie, NSIA Bank, Cote D’Ivoire

Sanomi II is the young, dynamic founder and Chief Executive Officer of the Taleveras Group, an internationally recognized energy and power conglomerate with offices in London, Geneva, Cape Town, Dubai, the Ivory Coast, Abuja and Lagos.

He also acts as chairman or co-chair on the boards of companies with interests as diverse as construction, telecommunications, shipping, aviation and real estate.

He is also the founder and Chairman of the Dickens Sanomi Foundation, created in memory of his late father.

 In addition to the Taleveras Group, the Dickens Sanomi Foundation is one of the key mediums through which Mr Sanomi supports his chosen charities, which are selected on the basis of their impact and effectiveness. 

The Dickens Sanomi Foundation places a high priority on the development of the Nigerian child and organises a number of competitions designed to encourage literacy and artistic accomplishment.


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Inlaks CEO, Femi Adeoti, Wins Top CEOs & Next Bulls Award

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Femi Adeoti, managing director and CEO, Inlaks, Africa’s foremost Information Technology and Infrastructure solutions provider in West Africa, has been announced as a winner of the 2020 Top CEOs & Next Bulls Awards organised by Business Day Media Limited in collaboration with the Nigerian Stock Exchange (NSE).

The MD/CEO whilst receiving the award dedicated it to the management and staff of Inlaks for their relentless service even during these trying times.

He also appreciated the board of the organization that drove changes within the organisation particularly in the pandemic which led to the company being recognized and the customers who have continued to support Inlaks while being ambassadors of all Inlaks’ solutions.

The CEO and Next Bulls awards, the sixth in its series, recognizes the CEOs of listed companies creating competitive shareholder value through sound strategy, disciplined execution and world class governance. In addition, it celebrates chief executives of quoted companies that have demonstrated the most impressive gains in both share price and service delivery.

Themed “Advancing Against all Odds,” this year’s award particularly recognised businesses that have been thriving in spite of the global harsh economic realities.

According to the organisers of the award, the indomitable Next Bulls are the CEOs raging forward at a time when many businesses are choosing to retreat, thus acknowledging Adeoti’s good leadership in the area of corporate governance, innovation and service delivery.

The CEOs award celebrates the CEOs of successful, privately-owned indigenous companies built by Nigerians, led by Nigerians and poised to lead their categories on the continent.

Established in 1982, Inlaks is Africa’s leading Information Technology systems integrator with presence in Nigeria, Ghana, Kenya, Gambia, Sierra Leone, Guinea, Liberia and Cameroon. As solutions provider, it offers core banking, agency banking, fraud management, cyber-security, cloud, data centre, enterprise risk management and software solutions.

Part of the criteria for selecting winners of this year’s awards held virtually on September 5, are stock price appreciation, Profit After Tax (PAT) growth, an unblemished regulatory compliance record, and positive marketplace reputation among customers in the period under review.

Winners are also selected based on significant interest shown by active and informed investors on the Nigerian Stock Exchange to invest in their stock should their boards ever decide to take them public.


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Transcorp Hotels Hard Hit by COVID-19, Mulls Restructuring

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The novel COVID-19 pandemic has caused the African Hotel and Tourism industry to lose over $50bn in revenue.

Transcorp Hotels Hard Hit by COVID-19, Mulls Restructuring

Dupe Olusola, MD, Transcorp Hotels

Amidst this, Transcorp Hotels Plc has suffered unprecedented losses and is looking to restructure the business strategy of its hotels and optimize its operations.

The management of Transcorp Hotels Plc has announced that it will be taking steps to ensure business continuity in the wake of the losses recorded due to the COVID-19 pandemic.

To this end, the hotelier is diversifying its portfolio and reducing its workforce as part of its cost management initiatives.

Mrs Dupe Olusola, managing director, Transcorp Hotels Plc, disclosed this during a Press Conference on Thursday saying “The impact of COVID-19 on the business is like nothing the company has ever witnessed. The hotel and hospitality industry in Nigeria has never faced a crisis that brought travel to a standstill, including the Ebola Virus Outbreak of 2014 and the recession of 2015. The slow pick up of international travel, restriction on large gatherings, the switch to virtual meetings and fear of the virus, has drastically reduced demand for our hotels and occupancy levels to its lowest of less than 5%.”

According to her “Despite the losses incurred we have fulfilled our obligations to staff. At the inception of the pandemic, we maintained a 100% salary payment to our over 900 employees in March and April. We also activated various cost-saving initiatives such as renegotiations of service contracts and restructuring of our loans. We suspended further commitment to buy fixed assets and operating equipment as well as reducing our energy consumption and maintenance costs. Despite undertaking these, it has become apparent that more fundamental changes need to be made for the business to survive. To this end, our workforce headcount will be reduced by at least 40%, and our reward system will be optimized.”

Mrs Olusola further disclosed that negotiations are ongoing to ensure that our colleagues who will be impacted are adequately compensated given the peculiarities of the economy at this time.

A health insurance package to reduce their health burden costs, especially during the pandemic, amongst other payment settlements, will be activated.

Equally, all Executives of Transcorp Hilton Abuja have now taken a pay cut.

As one of the leading hospitality brands in Africa, Transcorp Hotels Plc has stated its commitment to uphold service standards and ensure that all guests continue to experience the warmth and hospitality that it is known for.


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LCCI Announces Date for Virtual Edition of ICTEL Expo

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The Lagos Chamber of Commerce and Industry (LCCI), the premier Chamber of Commerce and a leading voice in the organised private sector (OPS) in Nigeria, is set to host the 6th edition of the Information, Communication, Technology and Telecommunications (ICTEL) Expo.

The tech event is scheduled to take place virtually on Tuesday 22ndand Wednesday 23rd September at 9am daily. To this end, interested participants are urged to register online via www.ictelexpo.com.ng

Muda Yusuf, director general of the Lagos Chamber of Commerce and Industry (LCCI) said: “The ICTEL EXPO is positioned to be a veritable platform for both operators and regulators to network, showcase and explore with technology with the view to repositioning the ICT sector of the economy.”

Yusuf added “that this year’s edition promises to be the best ever in the series with the theme “Exploring Opportunities in the Digital Economy” This is intended to create a platform to discuss strategies for economic diversification and business sustainability with particular focus on ICT, especially with the current challenges posed by the COVID-19 pandemic. There would also be virtual conferences and exhibition during the two-day event.

Yusuf also emphasized that relevant agencies and departments of Government will be exhibiting and attending to other exhibitors and participants.

He stated that the Government Ministries, Departments and Agencies that have confirmed attendance to participate are Ministry of Communications; Nigerian Communications Commission (NCC) amongst others.

In addition, the Honourable Minister of Communications and Digital Economy, Dr. Isa Ali Pantami and the Executive Vice Chairman, Nigerian Communications Commission, Prof. Umar GarbaDanbatta, are expected as Special Guests.

Mrs. Funke Opeke, managing director, MainOne Cable and chairman, Presidential Committee on National Broadband Plan, is expected to deliver the Keynote Address on the first day.

While Mr. Victor Eburajolo, deputy group managing director, Kewalram Group, will be delivering the Keynote Address on the second day at the virtual Expo.

Yusuf stated that “so far, so good the excitement that the virtual Expo has generated has been phenomenal and we are indeed happy about it.”


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