Only in nigeria is our story even possible
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ONLY IN NIGERIA IS OUR STORY even POSSIBLE. THE 17 th NIGERIAN ECONOMIC SUMMIT NOVEMBER 10, 2011. OPPORTUNITIES & CHALLENGES. Weak institutions and high level of bureaucracy Pervasive corruption Weak investor confidence Insecurity Large infrastructural gaps and challenges.

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Only in nigeria is our story even possible

ONLY IN NIGERIA ISOUR STORY even POSSIBLE

THE 17th NIGERIAN ECONOMIC SUMMIT

NOVEMBER 10, 2011


Opportunities challenges

OPPORTUNITIES & CHALLENGES

  • Weak institutions and high level of bureaucracy

  • Pervasive corruption

  • Weak investor confidence

  • Insecurity

  • Large infrastructural gaps and challenges

THE BAD - HISTORY

!


Once upon a time

Once upon a time….


Only in nigeria is our story even possible

  • In January 2001, a telecommunications company wins bid for mobile license in Nigeria at a cost of $285 million

  • Nigeria deemed a risky bet

  • Institutional investors sceptical

Telecommunications

Sector


Only in nigeria is our story even possible

Back in 2001

  • Fewer than four land lines per every 1,000 people in Nigeria

  • Extremely limited wireless capacity and unproven market

  • Shareholdersextremely wary

  • Company gains300,000 subscribers first year


Only in nigeria is our story even possible

In 2011

  • Today, the company has 40 million subscribers and growing

  • In 2010, the company reported US$17 billion in revenue out of which US$5 billion came from Nigeria alone

  • *Source: BusinessDay, March 10, 2011


Only in nigeria is our story even possible

In 2011

  • Nigeria operations has27% of company’s global subscriber base

  • Nigeria is the most profitable subsidiary, contributing about 30% of the Group’s revenue

  • * Source: BusinessDay, March 10, 2011


Only in nigeria is our story even possible

  • Only in Nigeria is this story even possible


Only in nigeria is our story even possible

  • In 1962, first brewery outside of Ireland and Great Britain built at Ikeja, Lagos

  • Steady growth prompts building of three more breweries


Only in nigeria is our story even possible

The Challenges

  • Distribution and logistics challenges

  • Poor infrastructure – roads, power


Only in nigeria is our story even possible

2011

  • Turnover grew by 48.6% from N62.2 billion (US$410 million) in June 2007 to N123.6 billion (US$820 million) in June 2011

  • Operating profit increased by 85.7% from N14.2 billion (US$94 million) recorded in June 2007 to N26.5 billion (US$176 million) in June 2011

  • Emerging markets expected to contribute 50% of company’s globalnet sales by 2015, up from 34% in 2011

  • Africa is the largest contributor to the growth in emerging markets


Only in nigeria is our story even possible

2011

  • From July 1, 2011 Africa started operating as an autonomous region

  • Most of the above has been largely driven with Nigeria as the largest single contributor in Africa

  • Nigeria is currently the world’s second-biggest market for the beer outside Britain, accounting for 41% of global volume sales of stout


Only in nigeria is our story even possible

  • Only in Nigeria is this story even possible


Only in nigeria is our story even possible

  • Two major banks merge in 2005

  • Consolidated entity becomes a Pan-African organisation with operations in 19 African countries and three continents in 5 years.


Only in nigeria is our story even possible

2005

  • Was a one-country financial institution

  • Had less than 3 million retail customers

  • 300-branch network and less than 40 ATMs

  • Employed about 7,000 Nigerians

  • Total balance sheet size of about US$ 2.5 billion


Only in nigeria is our story even possible

2011

  • Bank has presence in 19 African countries

  • Present in 3 major international financial centres(New York, London and Paris)

  • Bank has a balance sheet size of US$19.5 billion

  • Bank has more than 700 branches nationwide with almost 3,000 ATMs

  • Employs almost 20,000 employees from across the continent


Only in nigeria is our story even possible

USA

UK

Abu Dhabi

Cayman Island

Paris

Guangzhou

Benin

Mali

Nigeria

Chad

Burkina Faso

Cameroon

Senegal

Guinea

Uganda

S. Leone

Ghana

Liberia

Kenya

Cote d’lvoire

Tanzania

Gabon

Zambia

Congo Brazzaville

D.R Congo

Regulatory Approval in Progress

Operational

Mozambique

Zimbabwe

Angola


Only in nigeria is our story even possible

  • Only in Nigeria is this story even possible


Only in nigeria is our story even possible

  • The first major Nigerian-produced and directed movies were made in the 1960s by Ola Balogunand Hubert Ogunde

  • In 1992, the hugely successful “Living in Bondage” is produced by Kenneth Nnebueand launches new era in filmmaking


Only in nigeria is our story even possible

The Challenges

  • High cost of production

  • Absence of formal regulated structure

  • Piracy

  • Lack of distribution network

  • Funding problems

  • Lack of training facilities


Only in nigeria is our story even possible

Today

  • Despite virtually unhindered piracy, industry remains firm growth sectorwith a 70% yearly average surge in the number of movies registered between 2000 and 2006*

  • A $250million industry second only to India’s

  • Thousands of jobs – industryis 2nd largest employer after agriculture*

*Source: World Bank study, Ismail Radwan & Pierre Straus


Only in nigeria is our story even possible

Today

  • A positive image for Nigeria internationally

  • An avenue to promote Nigeria’s rich culture and talents


Only in nigeria is our story even possible

  • Only in Nigeria is this story even possible


What do we learn

What Do We Learn

Nigeria offers:

  • An extraordinary demographic profile – 7th largest population in the world

  • Abundant workforce

  • One of the fastest growing economies in the world

  • Untapped abundant natural resources

  • Market-oriented reforms shaping economic policy

  • Entrepreneurial spirit


What do we learn1

What Do We Learn

Nigeria is:

  • A destination where multinationals can and do succeed

  • Where domestic champions are rising and adopting increasingly regional and global strategies

  • Full of people who are entrepreneurial, innovative, and ready to leverage opportunities and adopt technology


Only in nigeria is our story even possible

Only

  • In Nigeria

  • Are these stories

  • Even possible


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