BUSINESS
Mouka Splashes N111m Education Support on Business Partners
By Joseph Amah, Abuja
Mouka, a leading manufacturer of bedding materials in Nigeria has rewarded its business partners with over N111,000,000 worth of scholarships, high-end laptops and educational materials for their children. The gesture is part of its annual business partner award to show appreciation to their customers.
The company also gave 15 junior members of staff scholarships to the tune of N5,000,000 as an act of goodwill from the company.
The award presentation ceremony which held in Lagos recently was attended by its Business Partners as well as staff members.
Speaking at the event, Mouka’s CEO, Raymond Murphy, praised the Business Partners who have stayed committed and contributed immensely to the company’s growth trajectory.
In his words, Ray Murphy said, “Their unwavering commitment is evident in their sales and distribution of Mouka’s portfolio of quality products to millions of consumers across the country. They have demonstrated an immense commitment to this partnership and Mouka’s revenue growth despite Nigeria’s economy for our mutual benefit. With extensive collaboration on many initiatives, they have made our brand a household name in Nigeria in pursuance of our mission of adding comfort to life”.
According to the Managing Director of Mouka, Mr Femi Fapohunda, Mouka continues to look for ways to add comfort to the lives of its stakeholders, including its Business Partners. “Mouka, for many, is a generational business passed from parent to child. Mouka seeks to empower the next generation of Business Partners through this initiative. We are safeguarding the future of our business by investing in our loyal Business Partners, their businesses and their families”, Fapohunda said.
The Company’s Chief Commercial Officer, Dimeji Osingunwa, said without the Business Partners, Mouka could not achieve such impressive brand penetration, a factor that has earned it the industry’s leadership position. To reward the continued commitment of these Business Partners, Mouka has consistently showered them with various gifts to expand their businesses while also safeguarding their health and wellbeing.
“In the recent past, we have presented trucks to our partners to ease the burden of distribution. Likewise, most of our Business Partners and their families are on various health plans fully catered to by Mouka. This year, we thought to ourselves, how else can we add comfort to the lives of these people whose dedication knows no bounds? We decided to reward them with over N111 million naira worth of educational support for their children to ease the burden of tuition. We believe this would further strengthen our relationship even as we continue to partner to ensure the Mouka brand remains Nigeria’s leading brand in this industry.”
Speaking on the scholarship presentation to junior staff, Ifeoma Okoruen, Mouka’s Head of Human Resources, said, “Mouka is a company that indeed values its people, continuously looking for ways to do right by them. From investing in training programs with the Lagos Business School to various welfare packages and incentives, Mouka always puts the needs of its people first. As an act of goodwill from the company, we decided to support our junior staff with scholarships for their children to lessen their burdens. The response from our people to this gesture has been simply overwhelming.”
The Nigerian Exchange Ltd. (NGX) continued its bullish trend on Wednesday, gaining N183 billion.
Accordingly, the market capitalisation, which opened at N59.532 trillion, gained N184 billion or 0.31 per cent to close at N59.715 trillion.
The All-Share Index also added 0.31 per cent or 303 points, to settle at 98,509.
68, against 98,206. 97 recorded on Tuesday.Consequently, the Year-To-Date (YTD) return increased to 31.
74 per cent.Gains in Aradel Holdings, Zenith Bank, United Bank For Africa(UBA), Oando Plc, Nigerian Breweries among other advanced equities drove the market performance up.
Market breadth closed positive with 34 gainers and 17 losers.
On the gainers’ chart, Africa Prudential, Conoil and RT Briscoe led by 10 per cent each to close at N14.30, N352 and N2.42 per share, respectively.
Golden Guinea Breweries followed by 9.95 per cent to close at N7.18, while NEM Insurance rose by 9.74 per cent to close at N10.70 per share.
On the other hand, Julius Berger led the losers’ chart by 10 per cent to close at N155.25, Secure Electronic Technology Plc trailed by 9.52 per cent to close at 57k per share.
Multiverse lost 7.63 per cent to close at N5.45, Haldane McCall dropped 6.07 per cent to close at N4.95 and Honeywell Flour shed 5.62 per cent to close at N4.70 per share.
Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 49.44 per cent.
A total of 320.10 million shares valued at N6.48 billion were exchanged in 7,943 deals, compared with 939.41 million shares valued at N12.81billion traded in 9,098 deals posted in the previous session.
Meanwhile, ETranzact led the activity chart in volume with 70.27 million shares, while Aradel led in value of deals worth N1.22 billion.(NAN)
The central parity rate of the Chinese currency renminbi, or the Yuan, weakened 22 pips to 7.1870 against the dollar on Monday.This is according to the China Foreign Exchange Trade System.In China’s spot foreign exchange market, the Yuan is allowed to rise or fall by two per cent from the central parity rate each trading day.
The central parity rate of the Yuan against the dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day. (Xinhua/NAN)
Arewa Youths Initiative for Energy Reforms (AYIFER), has urged Nigeria National Petroleum Corporation Limited (NNPCL) to do everything possible to bring Kaduna Refinery back into operation.
National Coordinator of the group, Mr Bashir Al’Amin, stated this in a statement issued on Friday in Abuja.
Al’Amin specifically called on the Chief Executive Officer of NNPCL, Mallam Mele Kyari, to do all within his powers to rejuvenate the refinery and bring it up to global standard.
He said that having delivered the Port Harcourt refinery, coupled with the establishment of Dangote Refinery in Lagos, attention should be shifted to Kaduna refinery for easy spread of petroleum products.
“We are calling on Malam Mele Kyari to expedite action on Kaduna refinery so we can be at par with other regions in the country.
“We equally beg the NNPCL to do professional work in rehabilitating the old refinery and deliver a standard and functional petrochemical refinery and not a blending plant.
“Kyari should resist any temptation that could make him do something that can jeopardise his good image,” he said.
Al’Amin said that since the extinction of groundnut pyramid and textiles in Kano State as well as PAN in Kaduna State and with the Kaduna refinery getting moribund, a lot of youths had lost their jobs.
According to him, all their hopes in the north are tied to the legacy refinery, expressing the hope that God would use Kyari to deliver it well and on time.
He said that the group was solidly behind NNPCL in prayer and would be ready to celebrate the company if its expectations were met. (NAN)
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