Nigerian Banks record 461.9m transactions in Q4 2017 – NBS

Published

6 years ago

February 8, 2018

FAB.NG

Banks in Nigeria recorded a total volume of 461,980,541 transactions valued at N29.44 trillion in fourth quarter of 2017, according to the National Bureau of Statistics (NBS).

The NBS stated this in a report “Selected Banking Sector Data: Sectorial Breakdown of Credit, e-Payment Channels and Staff Strength’’ posted on its website.

The bureau stated that Automated Teller Machine (ATM) transactions dominated the volume of transactions recorded.

It stated that 239,692,229 volumes of ATM transactions valued at N1.833 billion were recorded in the quarter under review.

In terms of credit to private sector, the report stated that a total of N15.74 trillion worth of credit was allocated by the banks in the quarter.

The report stated that Oil and Gas and Manufacturing sectors got credit allocation of N3.58 trillion and N2.17 trillion to record the highest credit allocation in the period under review.

It stated that the total number of banks staff increased by 9.19 per cent from 82,840 in third quarter, 2017 to 90,453 in the fourth quarter. (NAN)

“Stanbic IBTC Gears Up For 9th Annual Together4ALimb Walk

Published

2 weeks ago

November 24, 2023

FAB.NG

As part of its flagship corporate social investment (CSI) programme aimed at assisting children with limb loss, Stanbic IBTC Holdings is getting ready to hold its 9th annual Together4ALimb Walk on November 25, 2023. The event is more than just a charity walk; it highlights Stanbic IBTC’s commitment to bringing attention to and providing support for children who are dealing with limb loss issues.

With the theme “Wellness in Motion,” this early morning walk sends a strong message supporting the support of impoverished children who have lost limbs. The Together4ALimb programme, which was founded in 2015, has helped 55 children by giving them prosthetic limbs and a 1.5-million-naira educational trust fund each. Stanbic IBTC is strengthening its commitment in 2023 by integrating the largest number of beneficiaries in a single year, welcoming 45 new participants into the program.

Get the latest and greatest updates right away! Join our exclusive Whatsapp Channel and never miss out on exciting news again.

Commencing at Walter Carrington, Victoria, Lagos, the Stanbic IBTC Head Office, the walk will end at the Law School Bus Stop in Ozumba Mbadiwe, Victoria Island. After the event, participants will re-enter the premises for a festive get-together with their loved ones, friends, and Stanbic IBTC staff. Additionally, Stanbic IBTC has released a moving documentary that follows the Together4ALimb initiative’s life-changing journey. The film highlights the initiative’s significant influence on a number of young lives and demonstrates the possibility of significant change via group effort.

Stanbic IBTC set to hold 9th Annual Together4limb Walk|Fab.ng

The Together4ALimb Walk’s recent expansion to several Nigerian cities is noteworthy and highlights Stanbic IBTC’s strong commitment to generating value via social, economic, and environmental activities. Projects such as Together4ALimb do more than just provide assistance; they also make a major and positive impact on Nigerians’ well-being.

For more updates, check here.

BUSINESS

Showmax Unveils Relaunch Plans

Published

3 weeks ago

November 17, 2023

Reporter

The South African streaming market, Showmax is preparing for a significant relaunch in February 2024. The platform will relaunch with a refreshed logo, brand identity, a new app, and an entirely new product suite.

This move follows their strategic partnership with global media giants, Comcast’s NBCUniversal and Sky, which was announced earlier in the year. The relaunch aims to position Showmax as a leading streaming service in Africa, offering users an enhanced experience with new features and content offerings.

The brand is set to launch its first Nigerian original feature, “School Run“, as part of its expanded content lineup in December.

The streaming platform will also introduce a murder mystery series called Trompoppie, a Nigerian legal drama titled Agu, a reality series named Sports Wives, and its first 2D animation, Twende, featuring an adorable boda-boda driving pangolin.

Additionally, viewers can anticipate new seasons of popular shows such as Adulting, Kwa Mam’Mkhize, Wura and The Mommy Club, along with fresh episodes of the CANAL+ co-production, Spinners.

This content expansion coincides with Showmax’s rebrand, marking its eighth year in the African streaming market.

Get the latest & greatest updates right away! Join our exclusive WhatsApp Channel & never miss out on exciting news again.

Showmax CEO, Marc Jury expressed excitement about the relaunch, emphasizing the platform’s powerful technology, bold brand, and unmatched content slate, positioning Showmax to become the leading streaming service in Africa.

“We can’t wait to share the new Showmax. We have an incredibly powerful new technology platform, a bold brand that truly represents our driving spirit, and a content slate that is unmatched. No other streaming service in Africa can offer what Showmax is bringing to the table in the new year. Streaming in Africa is about to take off, and we’re ready to change the game. We have all the ingredients in place to become the number one streaming service for Africa.”

The new Showmax will offer three plans: Showmax Entertainment, Showmax Entertainment Mobile, and Showmax Premier League. This strategic relaunch follows Showmax’s partnership with Comcast’s NBCUniversal and Sky, promising a continuous supply of hit content from major international media players.

Expectations for an increase in international titles in the new year include projects like The Super Mario Bros Movie, Fast X, Poker Face, and the King Arthur epic, The Winter King.

For more movie updates, check here.

BUSINESS

Showmax Displaces Netflix As Top Market Leader

Published

3 weeks ago

November 16, 2023

Reporter

Showmax Displaces Netflix As Top Market Leader | Fab.ng

Showmax has secured victory in the intense competition for dominance in Africa’s rapidly growing streaming market, surpassing global giant Netflix with a substantial 40% market share, as reported by Omdia Research.

This shift represents a notable transformation in the dynamics of the African streaming landscape, as Showmax strategically positions itself as the preferred choice for viewers across the continent.

Showmax’s success is not a mere stroke of luck; rather, it stems from deliberate efforts and investments. CEO Marc Jury disclosed a remarkable 26% year-on-year increase in paid subscribers over the past four years, showcasing the platform’s appeal and growing popularity.

The commitment of Showmax to the African market is evident in a strategic investment of $1 billion in content production and acquisition, with a particular focus on enhancing its local content offerings.

Meanwhile, Netflix, entering the African market in 2016, is now contending with heightened competition from both local and global players. The streaming giant’s market share has declined to 35%, reflecting challenges in retaining its subscriber base amid evolving preferences and intensified competition.

Showmax Displaces Netflix As Top Market Leader | Fab.ng

Get the latest & greatest updates right away! Join our exclusive WhatsApp Channel & never miss out on exciting news again.

The African streaming market, projected to grow annually by 10.4%, is evolving into a battleground for various platforms seeking a share of Netflix’s slowing subscriber growth. Challenges such as high broadband costs, unreliable internet connectivity, and low incomes have hindered the rapid expansion of the streaming market in Africa.

Despite these hurdles, Netflix acknowledges the growth potential in the region. South Africa, currently Netflix’s largest market constituting 73.3% of its subscriber base, remains a stronghold. The streaming giant adopts a dual strategy, licensing local content like Nigeria’s “Black Book” and producing original content such as “The Origin: Madam Koi-Koi“.

This six-year strategy, costing $175 million, has shown promise, with price reduction initiatives resulting in a 6.8% increase in subscribers in certain markets.

As the streaming competition intensifies in Africa, Showmax’s rise and Netflix’s adaptive strategies highlight the dynamic nature of the industry.

For more news updates, check here.