Press Release
LG Electronics Bags 2024 Outstanding Refrigeration Brand Of The Decade
Head, Corporate Marketing LG Electronics, Hari Elluru, Managing Director, Ojbrands Optimal, Otis Ojeikhoa, presenting Refrigerator Brand of the Decade Award to Marketing Manager, LG Electronics, Paul Mba, with them is Public Relations Manager, LG Electronics Moses Osime, during The Edge Awards 2024 (Formerly known as Marketing Edge Awards) with the theme Excellence Beyond Borders held at Balmoral Hall Ikeja Lagos.
The management of Marketing Edge Magazine and organizers of the newly rebranded EDGE Awards have officially named LG Electronics as the “Outstanding Refrigeration Brand of the Decade”. This prestigious title was bestowed upon LG at the 2024 Marketing Edge’s Brands and Advertising Excellence Award ceremony in Lagos, where LG’s unwavering dedication to innovation, sustainability, and quality in the refrigeration industry was highlighted. LG Electronics’ commitment to excellence has set a high standard in the industry, making them the deserving recipient of this esteemed recognition.
The EDGE Awards, known for celebrating excellence in various sectors, acknowledged LG Electronics for its groundbreaking contributions to the manufacturing of refrigerators. This recognition further solidifies LG’s position as a leader in the industry, setting the benchmark for excellence and technological advancement.
As a testament to LG Electronics’ dedication to creating cutting-edge refrigeration solutions, the company has consistently delivered a wide range of products that prioritize energy efficiency, advanced technology, and user convenience. From smart refrigerators to innovative cooling systems, LG has continually pushed the boundaries of what is possible in the realm of refrigeration.
Receiving the award and speaking at the ceremony, Mr. Hari Elluru, Head, Corporate Marketing, LG Electronics Nigeria, expressed his appreciation for the recognition and highlighted the brand’s dedication to innovation and quality. He attributed LG Electronics’ success in the refrigeration industry to the tireless efforts of the committed team, emphasizing their continuous pursuit of excellence.
Elluru said “As we accept this prestigious award, it serves as a further affirmation of our dedication to producing the best quality refrigerators that not only meet but exceed the expectations of our consumers. At LG, innovation, reliability, and sustainability are at the core of everything we do, and this recognition spurs us to continue pushing the boundaries of what is possible. We thank you for acknowledging our efforts and we pledge to remain at the forefront of delivering top-notch refrigeration solutions that enhance lives and inspire the future. Together, let us create a world where freshness and convenience reign supreme”.
“With a strong focus on sustainability and eco-friendly practices, LG Electronics has not only revolutionized the way we store and preserve food but has also made significant strides in reducing carbon footprints and promoting environmentally conscious practices. Through its sustainable initiatives, LG has set a new standard for environmentally friendly refrigeration solutions” He added.
Commenting on this milestone, Publisher/Chief Executive Officer of Marketing Edge, Chief John Ajayi, stated “LG Electronics stands as a testament to the unwavering pursuit of excellence in refrigeration solutions. Their cutting-edge products and commitment to customer satisfaction have solidified their position as a leader in the industry.”
Ajayi affirmed that “as we look towards the future of refrigeration, LG Electronics continues to spearhead innovation and redefine the boundaries of what is possible in the realm of cooling solutions. Their vision for the industry aligns perfectly with the ethos of the EDGE Awards, making them the deserving recipient of this esteemed accolade”.
Receiving the title of “Outstanding Refrigeration Brand of the Decade” underscores LG Electronics’ long-standing commitment to excellence, innovation, and customer satisfaction. The company remains dedicated to shaping the future of refrigeration technology and setting the bar high for industry standards, inspiring consumers worldwide to expect nothing but the best from the brand.
The event was well attended by the industry leaders, political giants, and respected individuals who have seen the award transforming into a global event for over 2 decades as the mark of a significant milestone, the grand night, poised was filled with glitz and glamour, by distinguished personalities such as Chief Wole Olanipekun, SAN, and their Excellencies, Abiodun Oyebanji, Executive Governor of Ekiti State, Babajide Olusola Sanwo-Olu, Executive Governor of Lagos State amongst others.
ATIDI CEO, Manuel Moses and Hiroshi Matano, MIGA Executive Vice President (Image: Supplied)
The African Trade & Investment Development Insurance (ATIDI), and the Multilateral Investment Guarantee Agency (MIGA), part of World Bank Group Guarantees, have signed a three-year partnership to accelerate foreign direct investment across Africa. This is the second agreement between the two organizations aimed at maximising development impact.
The organizations will collaborate by leveraging ATIDI’s expertise in insurance and guarantee products across the African continent and MIGA’s range of guarantee solutions and guarantee expertise through the World Bank Group guarantee platform. The partnership will also seek to improve efficiency in joint project due diligence, maximising cost savings and eliminating duplication.
Manuel Moses, CEO, ATIDI: “Enabling more investment to finance transformational projects is vital to Africa’s sustained development. MIGA and ATIDI’s de-risking solutions are essential to achieve this crucial agenda. Beyond signing of this agreement, we look forward to a dynamic collaboration with MIGA, to leverage our institutions’ respective assets for the benefit of our continent.”
The agreement framework emphasizes mutual reliance, accountability, and comparability. Each party will regularly share operating standards and procedures to help identify comparable outcomes to further both organizations’ development mandates.
Hiroshi Matano, MIGA Executive Vice President says; “Our partnership with ATIDI will enable us to support countries in Africa in scaling and replicating development projects, thereby accelerating prosperity. This agreement will play a significant role in helping the continent attract foreign investment for key development projects.”
Both organizations have agreed to set up mechanisms to measure progress and results, including reports on joint projects, new products, capital mobilized, and reduced project processing times. Moreover, both parties will carry out joint marketing efforts, training, and seminars to strengthen cooperation and explore new investment opportunities in Africa.
The strategic agreement framework underscores the commitment of MIGA and ATIDI to create a world free of poverty on a livable planet. The two organizations aim to mitigate investment risks by pooling resources, thereby accelerating sustainable economic growth in Africa.
Lendsqr, a global provider of loan management software for banks, microfinance institutions (MFIs), and digital lenders, has launched a groundbreaking onlending initiative aimed at bolstering the capacity of Nigerian lenders to extend credit to their customers.
With this new initiative, Lendsqr is setting up a capital pool of up to N1 billion line of credit for lenders targeted at Lenders with State Moneylender or Cooperative licenses, giving them the much-needed access to capital that can drive sustainable growth and expansion.
“For a long time, we believed that providing top-tier lending technology was enough to help lenders scale,” said Adedeji Olowe, CEO of Lendsqr. “But technology alone cannot scale a loan business without adequate capital. That’s why we decided to go a step further and solve this critical need.”
The onlending model is designed to support digital lenders who often face challenges accessing loan capital, allowing them to access credit at a reasonable rate. Through this initiative, Lendsqr aims to bridge the gap between technology and capital, ensuring lenders can meet the demand for loans while remaining competitive.
A new era of B2B2C lending
Lendsqr’s onlending initiative represents a strategic step forward in Nigeria’s lending ecosystem. With the ability to offer overdraft loans, the company enables smaller financial institutions to lend confidently, knowing they have a reliable source of capital backing them up. This move is expected to deepen financial inclusion, create a ripple effect on local economies, and ultimately support the development of a healthier financial services landscape in Nigeria.
Lendsqr now joins established onlending capital in Africa such as Lendable, the Nigerian Bank of Industry, and the African Finance Corporation, in providing capital to lenders to drive financial inclusion and much needed growth within the SME economic subsector.
Expanding access and opportunities
By providing loan capital directly to digital lenders, Lendsqr aims to empower lenders to reach more customers, serve new markets, and achieve more stable growth. The initiative not only addresses immediate funding gaps but also sets a foundation for long-term partnerships across the financial industry.
“We’re excited to be the catalyst for growth in Nigeria’s lending sector. Our onlending initiative isn’t just about providing capital. It’s about enabling a stronger and more inclusive financial ecosystem where every licensed lender, big or small, can thrive,” added Joy B. Bello, Head of Sales at Lendsqr.
Lendsqr’s onlending initiative is currently available exclusively to Nigerian lenders. Interested parties can learn more and apply at Lendsqr Capital Portal.
Qore has announced the successful approval to implement its indigenous core banking solution, BankOne, in Tanzania. This landmark achievement marks Qore’s debut implementation of BankOne in Tanzania, underscoring the company’s dedication to deploying disruptive fintech infrastructure that enhance financial inclusion, automate banking processes, and facilitate seamless payments.
The Tanzania Cooperative Development Commission (TCDC), which oversees over 2,500 Saccos, including several regional and national cooperatives, plays a pivotal role in ensuring the smooth operation and regulation of these entities. By collaborating closely with TCDC, Qore aims to empower Saccos to secure and grow their members’ funds with ease, while providing real-time, cloud-native banking experiences through BankOne. This collaboration is set to revolutionize the cooperative sector in Tanzania, driving financial inclusion and innovation at an unprecedented scale.
Qore’s solution is designed to support the unique needs of Saccos, offering features such as real-time transaction processing, comprehensive financial reporting, and robust security measures. By leveraging BankOne, Saccos will be able to streamline their operations, reduce costs, and enhance the overall member experience.
This implementation is a significant milestone for Qore as it continues its rapid international expansion. “The deployment of BankOne in Tanzania is a testament to our commitment to bringing innovative banking solutions to new markets,” said Timothy Ngao, Country Manager for Tanzania at Qore Technologies. “We are excited to support the financial growth and stability of cooperative societies in Tanzania, and we look forward to many more successful implementations in the region.”
The company is proud to be at the forefront of this transformation, supporting the development of sustainable and economically viable cooperative societies across Tanzania.
