Asides the regular banking activities many banks engage in, Guaranty Trust Bank (GTB) has raised the bar in the banking sector. It has become associated with creative and speedy customer service. Because of its outstanding financial performance, excellence, and innovations, GT Bank is rated one of Nigeria’s foremost Financial Institution. Find out how this brand has gained such reputation in less than two decades.
Guaranty Trust Bank was founded in 1990 as a limited liability company with the aim to provide banking services within Nigeria and began full operation in February 1991. The brand was built on a firm foundation of excellence and professionalism. From its commencement, it has faithfully delivered innovative solution to solve customers’ financial challenges and has such gained more traffic.
Over the years the bank established some principles coined from what the brand refers to as The Orange Rules which guides its operations; simplicity, Professionalism, Service, Friendliness, Excellence, Trustworthiness, Social Responsibility and Innovation. This has also informed the brand’s corporate colour.
The company has had several strings of achievements from its sixth year into the banking sector. It was rewarded the Nigerian Stock Exchange President’s Merit award in September 1996 and consecutively won the same award for seven years within 2000 to 2009 excluding 2002. Another significant accomplishment the bank got was in 2002 when the bank was granted a universal banking license by the Central Bank of Nigeria (CBN).
The bank experienced rapid development and expansion after its second share offering in 2004 that raised about N11billion. Through this proactive step, Guaranty Trust Bank qualified for the N25 billion minimum capital base for banks initiated by the Central Bank of Nigeria in 2005.
Different years have come with different milestones for the brand. It has remained focused on its goal to build a proudly African and truly international institution that functions as a platform for enriching lives by building strong, value-adding relationships with those they do business with.
GT Bank has spread its tent from Nigeria to other countries like Cote D’Ivoire, Gambia, Ghana, Liberia, Kenya, Rwanda, Uganda, Sierra Leone, Tanzania and the United Kingdom.
We are a team driven to deliver the utmost in customer service. We are synonymous with innovation, building excellence and superior financial performance and creating role models for society.
We are a high quality financial services provider with the urge to be the best at all times while adding value to all stakeholders.
Guaranty Trust Bank’s culture revolves around the eight Orange Rules. The orange colour that represents friendliness and youthfulness has in one way or another influenced the brand’s core values. Here are the principles the brand abides by;
- Social Responsibility
GT Bank ties its significance to social responsibilities. It is an integral part of the company’s business model. GT Bank dedicates a significant portion of its profit to high impact projects geared towards enhancing the community, education, and different forms of Art.
Written by Jennifer Chioma Amadi
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A brand that has championed the course of online shopping in Nigeria is Konga. With its online and offline retail platforms, Konga has consistently set the standard on which other brands in its industry build on.
Having earned the game changer title in the e-commerce industry in Nigeria, Konga keeps expanding its reach and gaining more traffic. With all its accomplishment, Konga is a brand worth reviewing. Check out Konga in a wrap.
In 2012, a Nigerian entrepreneur and businessman called Sim Shagaya founded what we now know as the largest online mall in Nigeria, Konga. The e-commerce company has its headquarters in Gbagada, Lagos State and offers a third-party online marketplace and first-party direct retail.
The company started out as a Lagos based online retailer with a product range of children items, beauty and personal care products. By the end of 2012 and early 2013, Konga increased its merchandise categories to include home appliances, electronics, health care products, and fashion. Within this period, the company also expanded to other parts of the country.
In 2013, the company shifted its focus from being a purely first-party online retailer by launching Konga Mall, a platform for third-party retailers. This was achieved with a $10 million Series A round investment raised by the company’s investors, Investment AB Kinnevik and Naspers. With the help of the same investors, Konga was able to raise a $25 million Series B round which was considered as the largest single round raised by a single African start-up.
Struck by some strokes of an incontrollable online traffic, the site, Konga.com crashed on November 29, 2013 and operated offline for 45minutes. This was due to its Black Friday promotion which brought about an enormous sale.
Rebranding itself during the launch of the third-party retail platform in 2014, Konga changed the initial ‘Konga Mall’ to ‘Marketplace’. This new platform beat the previous internal target of 1000 merchant by featuring 8000 more. During this season, Konga experienced tremendous growth from millions worth orders. More recognition came in January 2015 as Konga was recorded to be the most visited website in Nigeria. The CEO, Sim Shagaya, also referred to it as a leader in its field.
In June 2015, Konga acquired the assets and mobile money license of Zinternet Nigeria Limited. This acquisition was used to support its premier product, KongaPay, which was a solution for cashless electronic payment. Konga, partnering Nigerian commercial banks, like Ecobank, Access bank, FCMB, Diamond Bank, Zenith Bank, Heritage Bank, UBA, First Bank and GTB, launched KongaPay. Konga, again set the pace for other e-commerce brands with this innovative move as it made payment easily for many customers.
Despite its many wins, Konga tasted some tough times and had to lay off over half of its staff. As a result of this downtime, Konga was acquired by Zinox, a manufacturer and distributor of computers. As a result of the acquisition, Olusiji Ijogun, former UAC Foods and Unilever executive, was appointed as the company’s chairman while Nick Imudia became the CEO after Shola Adekoya resigned.
A merger between Zinox and Konga.com followed on 1 May 2018 but the brand name, Konga was retained. The new company is a combination of an effective online e-commerce and the expansive branch network of Konga.com and emerging retail outfit, Yudala, whose goal is to pioneer omni-channel in Africa. The new Konga was forecasted to become the biggest e-commerce and retail company in Africa.
“To be a powerful force for the Economic Growth of Africa. To connect Africans with each other and the rest of the world through Technology & Commerce. To be a company that employees, customers & society are proud of and depend on.”
“To be the Engine of Commerce & Trade in Africa.”
Konga’s services are influenced by these set of values;
- Honour & Integrity
- Teamwork & Sacrifice
In the quest to reach and satisfy more customers, Konga offers the following services;
Konga Express: A service forced on delivering ordered products to customers within 1-3 days.
Konga Marketplace: This serves as a platform for Nigerian based businesses to showcase their products.
Konga Self-Fulfill Model: This service makes it easy for merchants to have better shipping agreements. With the help of this service, sellers are in control of parcels at every point till the delivery is made to the customer.
It also seems like Konga has ventured into the travel segment with Konga Travel.
It is obvious that one outstanding feature of Konga is its customer centric approach which ensures every customer goes around with a smile afterwards. This has not just built the brand’s customer base but also increased its dominance.
Written by Jennifer Chioma Amadi
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With the fast rise of technologies of all kinds – the simple and the sophisticated – the world’s advancement clings on technological wings. A country’s development is now measured by its level of technological growth and input, while humanity relies on it for easier and better existence. This leaves one with no other choice than to embrace the innovations that come with technology.
An aspect of technology that has gained its way into our lives is software applications that tend to create more ease in operating technological devices. Globally, many new and modified software are being developed every single day to ensure more users leverage technology. Nigeria is not left out of this rave as many organisations and start-ups constantly search for ways to proffer technological solutions.
Since 2009, Cinfores Limited took up the challenge and has so far, made laudable impact in the society. Here is an overview of Cinfores.
Cinfores Limited is a rapidly growing Information and Communication Technology (ICT) company in Port Harcourt, Nigeria. It began its journey with the aim to design software and offer educational solutions and services in the world of technology.
The company was founded by Asawo Ibifuro, Nwogu Ikechi and Saborogha Boneri who got connected during their days at the Rivers State University of Science and Technology and were driven by similar purpose. Together these three like minds have dedicated their time, resources and knowledge to build the iconic company, Cinfores.
For over a decade, Cinfores Limited has been committed to developing relevant solution-oriented software one of which being its flagship e-learning software – BrainFriend. This software, which has become a recognised brand, is considered Nigeria’s first examination preparatory and self-development tool. This educational software is designed to enlighten and guide students preparing for any type of examination in a way reducing failure.
The company has also earned the title, the CEO’s trusted adviser because of the solutions it provides for executives on ICT investments. The products and services offered by the company are geared towards sustainable development with keen attention paid to quality. They deliver services in areas like software development, application maintenance, business process modelling, system computerisation, ICT infrastructure, web hosting, networking and general ICT consultancy.
In the course of time, Cinfores has consciously gained immense experience in many aspects such as campus management and administration; scholarship management and administration; membership management systems, and administration of electronic screening tests etc. It has gradually deepened its root in different sectors in Nigeria, thereby becoming a leading brand in its own sector – ICT.
Cinfores’ vision is “To become Africa’s leading ICT Company for development in Education.”
The brand is on a mission “To improve the quality and management of education at all levels”
Cinfores Limited is defined by the following core values:
I – Integrity
F – Flexibility
E – Excellence
A – Accountability
T – Trust
At Cinfores Limited, they operate with a transparent structure that is constantly enhanced and improved and work with a genuine interest for their clients.
Cinfores’ production strategy revolves around creating valuable products and services that are of high quality and cost-competitive. To increase their relevance, the company’s products are designed with sustainability as the end goal. They work in line with the Sustainable Development Goals (SDG), and strive to develop and maintain innovative technological ideas.
As mentioned earlier, Cinfores is focused on finding solutions to different societal problems. They have employed this strategy in different organisations ranging from educational institutions, to governmental establishments and down to private organisations. Here are some solutions it has provided to tackle loopholes in these areas; Cinfores BrainFriend, Cinfores ecampus, Cinfores esms, Cinfores eskool, Cinfores examiner, and Cinfores erecruitment.
Amongst many impactful projects Cinfores has embarked on, the introduction of BrainFriend in 2016 was an exceptional one. The brand’s fame increased with the release of an enhanced version that featured video & animated lessons, instructional dramas & educational games, over 70,000 questions/answers/explanations in line with the national curriculum and over 59 subjects and lots more.
This innovative input in the educational sector has had tremendous impact in the lives of students and the country at large.
Witten by Jennifer Chioma Amadi
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There is a new rave in the Nigeria footwear industry, and Bata seems to be at the center of it all. For those who probably mistook Bata for either a Yoruba venture or an Igbo business, you might need to sit down for some shocking revelations and hopefully you will get a paradigm shift at the end of this article. Moreover, it is not new to the Nigeria market.
You might probably be amazed that the Canadian multinational footwear and fashion accessory manufacturer and retailer, Bata, has been in the Nigerian scene since 1932. Bata also pioneered projects that developed the Nigerian shoe industry.
On the shores of Zlín Czechoslovakia in August 24, 1894, Thomas Bata established the shoe factory that, within a decade, became a leading shoe manufacturing company in Europe. Bata Shoe Company’s dominance then and now is associated to their smart entrepreneurship, mechanization and competitive pricing.
Following the global economic slump that arose after World War 1 in 1914, the company experienced some challenges due to the instability – currency devaluation and massive unemployment – in the new country. Because of this, there was less purchase of products, which led to a cut back in production. Unshaken by this setback, Thomas Bata came up with a new strategy to tackle this economic crisis by drastically reducing the prices of all the shoes.
As expected consumers responded speedily to the price drop which increased demands for Bata shoes. This saw the closure of many rival shoe manufacturers, in 1923 and 1925, who could no longer meet up the demands that came with the crises. While this was happening, Bata gained more grounds and relevance.
With this successful outcome, the company purchased several hectares to build a factory town, known as “Bataville”. Within the location, the company had grouped tanneries, a brickyard, a chemical factory, a mechanical equipment plant and repair shop, workshops for the production of rubber, a paper pulp and cardboard factory, a fabric factory, a shoe-shine factory, a power plant and farming activities to carter for food and energy needs.
Despite the death of Thomas Bata, the founder, in 1932, the company waxed stronger, increased the quality of shoes and remained a leader in the shoe manufacturing industry. This growth did not end in Czechoslovakia, it also expanded and built factories in other countries – Poland, Latvia, Romania, Switzerland, France, etc.
In 1964, the Bata Company moved their headquarters to Toronto, Ontario, Canada. In 1965, it moved again into an ultra-modern building, the Bata International Centre. The building, located on Wynford Drive, in suburban North York, Ontario, Canada, was designed by architect John B. Parkin.
Nigeria was also in the plan. The company graced the Nigerian soil since 1932, became a major trader and manufacturer in 1964 popularly known as Bata Trading Company and subsequently in 1998 changed to Bata Nigeria PLC. The company spearheaded the development and modernization of shoe manufacturing in Nigeria and maintained tanneries for the processing of leather and allied products such as wet blue. It also instigated the model for local tanneries that were designed in line with the socio-cultural structure of many third world countries and ethnic groups across continents like Africa, Asia and the Middle East.
Unfortunately, due to unfavourable business policies, the company exited the Nigerian market in the 80s. These policies affected the company’s operations and made it less effective. Even after its exit, Bata Shoes Company had left an unbeatable legacy and a gap that no other shoe manufacturer could replace.
However, the company recently announced its comeback to the Nigerian market, with a one million naira launch for a factory complex in Abuja. The company’s Nigerian stakeholders are leading the project that is scheduled to start operations in June. They believe this would tackle problems related to shoe importation in Nigeria.
To grow as a dynamic, innovative and market driven domestic manufacturer and distributor, with footwear as our core business, while maintaining a commitment to the country, culture and environment in which we operate.
To be successful as the most dynamic, flexible and market responsive organization, with footwear as its core business.
Asides giving the shoe manufacturing industry in Nigeria a facelift, Bata looks forward to reducing the unemployment rate in the country by training and employing 128 youths from Nigeria. These set of qualified individuals will be responsible for managing the production in the factory. Based on the quality Bata has been known for, Nigerians can be assured that the brand will continue to deliver exceptional products and in turn give them value for their money.
We hope this article has enlightened you in some way. We would love to read your comments, if you do not mind sharing.
Written by Jennifer Chioma Amadi
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If you have a flair for creams then at some point, you must have tried a Nivea product or even if you are not a cream fan, we can bet you must have seen a Nivea commercial televised on your screen or a billboard with NIVEA boldly printed on it or even an online advert.
For over 130years, the brand has consistently spread its fragrance through different products. Though a German based company, Beiersdorf, which is behind the famous product NIVEA has established itself in the Nigerian cosmetic industry. Today we examine how NIVEA which started in a small scientific laboratory exploded to almost every part of the world.
NIVEA, which is the trademark for one of Beiersdorf’s popular cosmetics brand, was derived from the Latin word “nix, nivis” meaning “snow-white”. The brand was birthed from quality research, and a great deal of creativity and a good business sense.
The brand’s success story traces back to the Pharmacist, Paul C. Beiersdorf, who first invented the coated plaster in his small laboratory in Hamburg in 1882. Subsequently, after his invention, Beiersdorf started the company and till date the company bears his name.
The company experienced a change of ownership in 1890 when Dr. Oscar Troplowitz took over from Paul C. Beiersdorf. Troplowitz expanded the company and further developed the water-in-oil emulsifier as a skin cream with Eucerit which was the basis for Eucerin and later became NIVEA.
In 1911, Dr. Oscar Troplowitz produced the first NIVEA Creme with the help of chemist Dr. Isaac Lifschütz and dermatologist Prof. Dr. Paul Gerson Unna. The skin cream was a stable oil-and-water. In 1914 the company operated the business in over 34 countries and as a result it gained global popularity.
In 1918 when Dr. Oscar Troplowitz and his brother-in-law and partner Dr. Otto Hanns Mankiewicz died, the company’s trademark was changed severally until June 1, 1922 when it finally settled for P. Beiersdorf & Co. AG corporation.
After its first commercial in 1920 with “Eulalias Verjüngung” (“Eulalia’s rejuvenation”) which was shown in a German movie theatre, NIVEA got more spotlight on it. The aim was to convince prospective customers of the effectiveness of the snow-white skin cream.
Though the NIVEA brand had existed and made itself visible in the Nigerian market for over fifty years, it was not until 2017 the company Beiersdorf officially announced its arrival in Nigeria. Believing that the Nigerian soil had become fertile enough, the company invested N7 billion in the economy and described it as the right place for investment.
It was also forecasted that by 2050, Nigeria will become the 14th largest market in the world. The company assured its Nigerian customers more quality products and more innovative brands. Since then, the brand has continued to thrive and keep to its promises.
BRAND CORE VALUES
The company has always been guided by four main core values from the beginning. The brand’s core values has informed the manner the business is being operated, the way employees are being treated and the also the way colleagues associate with each other. The four values are as follows;
One major culture the brand believes in is the importance of showing care. They are concerned about employing a culture which encourages individuals to lead their own unique ideas and convictions and are also inspired to take responsibilities for themselves and their teams. They welcome and promote diversity, which they believe breeds innovation.
The company is run with flat and flexible hierarchy system. They make conscious effort towards honesty, sincerity and straightforwardness in order to ensure everyone knows where they fit in. They try to strike a fair balance between work and life so they embrace teamwork in a means to devise individual solutions.
The brand ties its strategy to “care”. In their words, “For us, “care” is more than just part of our business, it expresses our responsibility to people and the environment. We manufacture high-quality skin care products and have more than 100 years research expertise. Our efforts form part of Beiersdorf’s international sustainability strategy “We care”.”
Being a well-known brand, NIVEA has used its influence to seek for alternative ways to improve the lives of people and the society. The brand continues to support sustainable sourcing which would enable them produce more quality products. They serve as an educative platform to enlighten people health wise.
FEEDBACK FROM CUSTOMERS
Knowing NIVEA as a brand most Nigerians have patronised, we decided to get some feedbacks from some customers;
“Nivea products are affordable. Though I think it doesn’t really last for 48hours as we are made to believe in their adverts, but then I like the fact that there are no harmful chemicals in them. Nice fragrance too,”- Grace
“For me, Nivea roll-on and deodorants are long lasting even beyond 24hrs. Another amazing fact is that they are non-alcoholic and can be used immediately after shaving without the burning/peppery sensation other products give. Unique fragrance I must add. They also have varieties of products one can choose from,”- Oswin
From the feedbacks above, one would observe a high level of consistency and impact the brand has made which can be considered as their strength. With its firm foundation, NIVEA remains a brand that will forever live in the minds of many in years to come.
Written by Jennifer Chioma Amadi
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Earlier this week, whilst thinking of a brand to review – particularly brands which had made significant impact using Port Harcourt as a launchpad – the brand CypherCrescent came into mind. For many of us in Port Harcourt, more especially those who aren’t into the Tech business – this brand may seem foreign to us. Nevertheless, this same brand is well-known in the oil and gas industry particularly in Nigeria.
Cypher Crescent was established few years prior to March 2015 when Mr. ThankGod Egbe, a mathematician and research enthusiast, resigned from Shell after eight years of dedicated service to the company in both Nigeria and the Netherlands. With over 5 years of doing business and adding value to the oil and gas industry, Cypher Crescent has since seen expansion of its business beyond the shores of the country to Aberdeen, United Kingdom, Homan, and Houston Texas and all over the world.
Cypher Crescent Limited is a research and software development company, which utilizes mathematical models to proffer creative, innovative, and effective business solutions to the engineering problems encountered by clients/companies in the exploration and production of oil & gas. They also provide consulting services in oil and gas asset management and as such, help petroleum production and exploration companies better manage their well and reservoir assets in an efficient and cost-effective manner.
Their flagship tech innovation – SEPAL – a business intelligence tool for well and reservoir management has so far seen major successes in acceptance and is highly sought in the industry by both government-owned and private oil & gas firms. SEPAL (Structured Engineering Presentation and Analytics Library) help oil and gas exploration and production companies remain competitive more importantly in these times of constant oil price fluctuations in an industry which contributes over 90% of the country’s total export value and revenue.
In the recent past, this alluring brand collaborated technically with NNPC Research and Development Division in the use of technological innovations in enhancing the production of oil and gas in Nigeria. In a country that depends majorly on the revenue derived from its oil & gas economy, you could guess what significant measure this implies on the overall growth and development of the Nation.
To show their love for research and the development of the oil and gas sector, Cypher Crescent donated twenty-four SEPAL licenses (its debut product on well, reservoir & facility integrated asset management) to the Institute of Petroleum Studies (IPS), University of Port Harcourt in 2018. The previous year, it donated fifteen of similar licenses worth over US$1.5 million to the African University of Science and Technology (AUST). They also recently sponsored some indigenes of host communities in ICT training as a way of enhancing the human-resource-base capital of the society.
To be a leading provider of world-class oil and gas asset management solutions.
To safeguard oil and gas asset integrity and enhance production through innovation and cost-effective business intelligence solutions
Their core values
Integrity, Respect & Innovation
Excerpts from their website states:
Our clients are international oil companies (IOCs), NOCs, independent and marginal field operators seeking to maximize value from their oil and gas assets. We also provide technical expertise and support for servicing companies involved in turnkey projects.
Our team of experts are drawn from diverse backgrounds, with skills and experiences garnered from both the E & P industry and the academia. The team is motivated by their constant desire to continuously innovate and create value that address existing gaps in the E & P business. The team’s experience covers areas such as geosciences, petrophysics, reservoir engineering, production technology, well completions, production operations, mathematical modeling and software development.
SEPAL – Structured Engineering Presentation & Analytics Library
- Mathematical modeling
- Engineering Software Development
- Asset Management Services
- Technical Support and Training
Cypher Crescent is committed to collaborating and assisting their clients to gain valuable understanding of their assets through the integration of acquired data and in-depth technical insights.
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