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Consumers commend Terra Cubes unwavering price

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Terra Seasoning Cube, renowned for its superior quality that elevates taste and flavour in dishes, continues to captivate its ever-expanding consumer base with its resolute consistency in pricing, defying the challenges posed by current inflationary trends and the escalating costs of foodstuff.

In a world where market fluctuations and inflation have become the new normal, leaving many brands to resort to desperate measures like compromising on quality or increasing price in a bid to offset costs, Terra Seasoning Cube has astutely recognized the significance of stabilizing the price of its product for its consumers. By steadfastly adhering to unchanging prices across its range of seasoning cubes, the brand not only imparts a sense of unwavering reliability but also ensures unparalleled value and trust in every purchase.

Across all Terra Cubes variants of Chicken, Beef, Shrimp and Jollof Cubes, consumers are relieved that their cherished Terra Seasoning Cubes can still be purchased at the familiar price points of N50, N100, N200, and N500. This consistency in pricing brings a sigh of relief, allowing consumers to plan their seasoning cube purchases without the worry of adjusting to the new price increase every day.

Mrs. Eniye Jones, a devoted homemaker, shares her relief and satisfaction in purchasing her beloved Terra Seasoning Cubes at prices she has grown accustomed to.

“I am delighted that brands like Terra Seasoning Cube allow me to meticulously plan my monthly home-keeping budget, unlike other unpredictable brands that randomly raise prices with each market visit. Ever since my encounter with this extraordinary product about 2 years ago, I have continued to purchase my tasteful Terra Seasoning Cubes at the prices I’ve grown accustomed to,”she stated with heartfelt satisfaction.
Probal Bhattacharya, Chief Marketing Officer, TGI Group, stated that price consistency is a crucial aspect of the brand’s commitment to customer satisfaction.

“Across departmental stores, supermarkets, neighbourhood shops and open markets, we have ensured that for Terra Cubes the prices will remain the same. Our commitment to maintaining prices not only simplifies the purchasing experience but also cultivates enduring trust amongst our valued consumers,” he stated.

Deepanjan Roy, Group Executive Director – TGI said “We understand the challenges faced by consumers when it comes to budgeting for their meals and delicacies. By providing a consistent pricing model for our seasoning cubes, we aim to empower our consumers and enhance their culinary experiences.”

Terra Seasoning Cubes are made up of wholesome, carefully sourced essential ingredients specially designed to meet the discerning Nigerian consumers’ needs in every meal, offering great taste, flavour and aroma for that unique cuisine experience. Every meal cooked with Terra Cube guarantees an enjoyable meal and a rich signature homemade taste experience. Available in Beef, Chicken, Shrimp and Jollof flavours, in various consumer-friendly pack sizes nationwide.

Tropical General Investments (TGI) Group is an international investment and holding company with diversified interests and investments across Africa, The Middle East, Asia and other emerging markets. TGI’s investments focus on driving inclusivity and value addition using locally sourced raw materials, state-of-the-art manufacturing facilities and a highly skilled workforce to produce world-class products that are consumed both locally and exported to global markets. Across markets, TGI Group owns over a hundred leading brands in Fast Moving Consumer Goods, Agricultural Inputs, Industrial Chemicals, Homecare Products and Pharmaceuticals.

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BREAKING: Tinubu Appoints Ayodeji Gbeleyi as BPE DG

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President Tinubu
– Ayodeji Gbeleyi appointed as Director-General of Bureau of Public Enterprises
– Renowned financial expert and award-winning chartered accountant
– Over 30 years of experience in diverse sectors

President Bola Tinubu has appointed Ayodeji Ariyo Gbeleyi as the Director-General of the Bureau of Public Enterprises (BPE).

According to the President’s spokesman, Ajuri Ngelale, Gbeleyi is expected to bring his vast experience and competence to bear in this role.

Gbeleyi is a fellow of both the Institute of Chartered Accountants of Nigeria and the Chartered Institute of Taxation of Nigeria.

He has also attended executive programmes at the prestigious London Business School, Harvard Kennedy School of Government, and Lagos Business School.

With over 30 years of post-qualification experience in diverse sectors, Gbeleyi is well-equipped to strengthen the agency as the national resource centre for capacity building and sustenance of reforms.

The President expects him to promote a competitive private sector-driven economy and ensure social accountability and efficient deployment of public resources.

“The new Director-General is expected to bring his vast experience and competence to bear in this role,” said Ajuri Ngelale. “He will advance effective corporate governance and fiduciary discipline in the public and private sectors.”

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AGUSTO & CO UPGRADES WEMA BANK’S RATING TO Bbb+ WITH ESG SCORE OF 2

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AGUSTO & CO UPGRADES WEMA BANK’S RATING TO Bbb+ WITH ESG SCORE OF 2

…Confirms Stable Financial Outlook for the Bank

Following its strong 2023 financial performance, Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has received an upgraded rating from Agusto & Co, validating the Bank as Bbb+ rated with an ESG Score of 2 and confirming a stable outlook for the Bank.

Agusto & Co is a Pan-African credit rating agency and leading provider of industry research and knowledge in Nigeria and Sub-Saharan Africa.

By upgrading Wema Bank’s rating from BBB to BBB+, Agusto has confirmed that Wema Bank is of stable financial standing and more equipped than ever to keep fulfilling its duties as a commercial bank with National authorization.

This development is unsurprising as Wema Bank’s financial strength is reflected in the Bank’s FY 2023 Audited Financial Report. Among the outstanding results achieved by Wema Bank was a 196% increase in Profit Before Tax (PBT) from N14.75bn to N43.59bn translating to higher pre-tax return on average equity (ROE) and pre-tax return on average assets (ROA) from 21.5% to 43.9% and 1% to 2.1% respectively. The Bank also recorded a 220.4% increase in Profit After Tax (PAT) from N11.21bn to N33.66bn, 70.63% increase in Gross Earnings from N132.30bn to N225.75, 53.64% increase in Loans disbursed from N521.43bn to N801.10bn, a reduction in cost-to-income ratio (CIR) from 80.1% to 64.4% due to significant earnings growth despite economic fluctuations and 220.53% increase in Earnings per share from N87.2 to N279.5, among other indices.

According to Agusto & Co, “The upgrade of Wema Bank’s rating to Bbb+ is underpinned by improved profitability despite macroeconomic headwinds, lower impaired loan ratio, better deposit mix, strong shareholders’ support as reflected in the successful rights issue exercise and perpetual bond issuance. We have also attached an ESG score of ‘2’, reflecting our view that environmental, social, and governance issues have a minimal impact on Wema Bank’s rating”.

Affirming the Bank’s commitment to providing stakeholders with optimum returns, Moruf Oseni, Wema Bank’s MD/CEO, expressed the Bank’s gratitude to Agusto & Co for acknowledging the strong progress made by the Bank. “Wema Bank is on a journey to the top and we are driven by a commitment to delivering exceptional value, exceeding expectations, and providing optimum returns to every stakeholder—shareholders, customers, employees, and partners alike. It is this commitment that has reflected positively in our numbers and will propel our growth over the next decade”.

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