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Visionscape Boss, Niyi Makanjuola’s Myriad of Troubles

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Visionscape Boss, Niyi Makanjuola’s Myriad of Troubles

By OLA KING

Without a doubt, young serial entrepreneur, Adeniyi Makanjuola, did not bargain for what life has thrust on his laps in recent time.

Indeed, he could not have wished the myriad of problems plaguing his life, particularly when you consider his status that many covet.

While it may be wrong to input any hint of anti-climax in the compelling story of the former chairman of Caverton Helicopters,  the current developments are, to put it mildly, giving him a headache.

The seemingly tragic plot in his narrative set in when he ventured into the business of environmental utilities via Landscape Vision.

In reminiscence, the 39-year-old, who was celebrated by Forbes last year as one of the five young African entrepreneurs, all aged 45 and under, to watch, started well with the support of the former Lagos State governor, Akinwunmi Ambode.

In fact, the son of aviation guru, Chief Remi Makanjuola, had dreamt of turning Visionscape into Nigeria’s largest environmental utility company.

But the Lagos lawmakers invalidated whatever arrangement the boss of Raven Resources Groip had put in place to achieve the proposed plans.

As if that was not enough, it was gathered some assets of the company might have been taken over by the Lagos State government.

Typical of the saying that misfortune comes not singly but in myriad, the recent statement credited to the Federal Inland Revenue Service, FIRS , may amount to running a knife through a wound that is yet to heal over in the heart of the young businessman.

The Agency has listed Visionscape as one of thousands of Nigerian businesses that have not regularize their taxes with the country’s revenue agency.

Amidst all this, Makanjuola appears to have been left alone to paddle his own canoe, as his erstwhile Lagos helmsman buddy, who has temporarily relocated to the United Kingdom, is allegedly unwilling to spare him much thought because he himself is  said to be struggling for his political survival.

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Airtel Africa Enters Into UK’s FTSE 100 Index

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Airtel Africa

Bharti Airtel’s subsidiary Airtel Africa to become part of the FTSE 100 index, the UK’s leading stock market gauge, from January 31.

According to Bharti chairman Sunil Bharti Mittal, “This is a significant milestone for Airtel Africa, which becomes part of the FTSE 100 in just two and a half years of listing on the London Stock Exchange joining the most valuable companies,”

Airtel Africa was listed on the London Stock Exchange in June 2019. The company commands a market capitalization of close to $8 billion.

Airtel Africa Enters Into UK’s FTSE 100 Index

Bharti Airtel said that the inclusion in the FTSE 100 index was the mark of the growing confidence of investors in the business.

“Airtel entered Africa in 2010 and the business has demonstrated consistent growth in its customer base, revenues, profits, margins, and cash generation, as well as strengthening its balance sheet through reduced leverage,” Bharti Airtel said.

Airtel Africa serves around 122 million subscribers across the continent. In the six-month period ended September 30, Airtel Africa’s revenue grew 25.2 percent to $2.3 billion while its net profit doubled to $335 million.

“Airtel Africa is a strong player in the African continent, which has emerged as the next growth frontier globally,” Mittal said.

At 2.56 pm, Bharti Airtel was trading 0.4 percent down at Rs 709.95 on the National Stock Exchange.


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Avoid Loan Sharks, Leverage On Microfinance Banks, Emefiele Tells Nigerians

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Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says Nigerians should beware of illegal money lenders, known as loan sharks.

Emefiele said this on Tuesday at the end monetary policy committee meeting in Abuja.

Loan sharks offer loans at extremely high rate returns, strict terms of collection upon failure, and generally operate outside the law.

The CBN governor explained that those who go to collect loans from places other than microfinance banks or recognized institutions are at bigger risk.

“There is no need for you to go to loan sharks for a loan. People normally go to loan sharks because they are desperate and can’t access the bank,” Emefiele said.

“We found out that those that are vulnerable are households who need money to do their businesses but they can’t access bank finance and as a result go to loan sharks who charge them way above or two times higher than the amount borrowed and expected to pay back in 90 days and if that doesn’t happen, they seize your house or bikes.

Avoid Loan Sharks, Leverage On Microfinance Banks, Emefiele Tells Nigerians

“We can only continue to advise that there is no need to go for loan sharks. The central bank has put in place the avenue through which you can raise your finance, like through the target credit facility or the SMEs loan that was set up through our microfinance banks.

“You don’t have to owe anybody, just go to the portal and fill the form, send your data, and if it’s correct, you will be able to access loans.”

He said several people have benefited from the microfinance strategy to give out loans at affordable return rates, adding that CBN will go after loan shark perpetrators.

“We have a large number of people who have testimonials from the facilities we’ve made available and do not have to owe anybody,” the apex bank governor said.

“The bank is putting effort to stop loan sharks, and when these people are found, they will be dealt with mercilessly.”


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Prepaid Card Transaction Value To Exceed $4.1 Trillion By 2026 Globally

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Prepaid Card Transaction

… As Financial Inclusion Drives Usage

A new study from Juniper Research has found that the value of transactions made over prepaid cards will exceed $4.1 trillion globally in 2026; up from $2.3 trillion in 2021 – a substantial growth of 75%.

By 2026, prepaid card transaction value will be just over 50% higher than that forecast for contactless payment transactions; illustrating the importance of this market.

The growth in prepaid cards will be driven by the ongoing replacement of cash, as economies move increasingly towards digital payments.

The research identified prepaid cards as being critical to ensuring that the unbanked are included in the rush for digital payments. The research recommends that vendors focus on building robust distribution platforms that can cope with issuing cards at scale and at low cost, or they will lose out to better-equipped vendors.

For more insights, download the free whitepaper: Prepaid Cards ~ Advancing Financial Inclusion

Prepaid Cards Driving Significant Fee Revenue

The new research, Prepaid Cards: Trends, Vendor Strategies & Market Forecasts 2022-2026, found that the growth of the prepaid market will present a significant revenue opportunity for prepaid card platforms, with fee revenue reaching over $32 billion globally in 2026, from $22 billion in 2021. The report recommends that focusing on critical capabilities, such as restricted authorisation, which enables issuers to specify where funds can be spent, will pay dividends in the longer term.

Research author Nick Maynard explained: “Tools such as restricted authorisation and digital issuance will enable prepaid cards to benefit from the evolution of traditional gift cards into full-blown prepaid cards, driving significant revenue.”

US Is Largest Prepaid Market, but Other Opportunities Emerging

The research found that while the US will account for over 43% of global transaction values in 2026, there are other significant opportunities emerging. China is seeing increasing prepaid use, and as international tourism recovers, prepaid cards for travel money can benefit. The report also highlighted emerging markets as a key area of interest and recommended that platforms form partnerships now in order to best exploit future opportunities.


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