Looking at 2021 in review, it wouldn’t be erroneous to assert that it was indeed a year that gave a lot of surprises and presented hope, especially for Nigerians that struggled with a mix of COVID-19 economic disruptions, and governmental policies.
Even though the year has come and gone, some of the events that happened have projected quite a several Nigerian companies as those with potentials that are worth looking out for.
While Nigerians are yet to fully leave the pandemic behind and its adverse effects, a few companies managed to scale up their businesses by introducing new products, onboarding new investors, and improving their outputs.
Although it may take a while for some of these companies to gain, in view of the potential their recent events earned them, they are worth keeping eyes on as the year (2022) continues.
Interswitch
In spite of the raging COVID-19 pandemic, payment has continued to gain prominence and relevance as time progresses. Like its peers in the FinTech sector, Interswitch has continued to help the financial market, especially as it relates to expansion.
It is a no-brainer that access to financial services is important to poverty alleviation, and economic development. This is why Interswitch is committed to leveraging its products to expose people to why they need to be part of Nigeria’s financial inclusion goal.
As a leader in the FinTech space, Interswitch is providing services to members of the public irrespective of their backgrounds and statuses. For instance, both the poor and rich, men and women, have been provided with products that would enable them to enjoy and use basic financial services to not only improve their lives but also give a boost to their resilience.
As the world is grappling with the COVID-19 realities and how to manoeuvre, Interswitch’s services are committed to reducing face-to-face interactions, which is essential for curtailing the spread of infectious disease.
It would be recalled that last year, Interswitch provided developers with the appropriate tools needed to create new digital products, and solutions that could influence ease and accelerate the growth of the financial market.
Stanbic IBTC
Amongst players in the traditional banking sector, Stanbic IBTC has continued to demonstrate its leadership charisma with significant growth.
It would be recalled that Stanbic IBTC, last year, contributed immensely to the growth of Nigerian businesses and the economy, by providing lending and making it accessible for people to take advantage of.
As a matter of fact, this financial institution maintained a minimum Loan to Deposit Ratio (LDR) of 69%, which means that it’s in full compliance with the directive of the Central Bank of Nigeria (CBN), for the sake of the economy and banking sector.
It is, however, no surprise that in August 2021, Stanbic IBTC was identified as the ‘Best Investment Bank in Nigeria’ at the Euromoney Awards for Excellence. It was the third time the financial institution would win such recognition consecutively within a period of four years.
As far as investment banking is concerned in Nigeria, the award is arguably the most coveted, and Stanbic IBTC claimed it for its proven excellence in debt arranging solutions, and innovative advisory to a diversified client base, some of whom include -multinationals, government parastatals, and corporate entities in Nigeria.
BUA Foods
For BUA Group, 2022 is poised to be the beginning of a new journey, as it aims at consolidating its products -pasta, edible oil, sugar, rice, and flour, into one entity that would be known as BUA Foods.
The combination of these products is pertinent to addressing the looming nationwide food crisis. It is no longer news that the lingering insecurity in the country, has stopped many farmers from going to their fields to plant and cultivate, which has given room to a prediction that there would be a food crisis.
But in the midst of this, BUA believes that it can proffer a solution to this challenge by consolidating its products into a single entity to serve members of the public
MTN
Having provided members of the public with the privilege of owning equity stakes in MTN Nigeria, the telco is poised for growth and excellence in the year under review.
To demonstrate the fact that it’s on the right track in fulfilling its Ambition 2025, MTN recorded strong financial performances in its 2021 Q3, such that it claimed 20 awards in November.
Aside from its market excellence, MTN Nigeria was recognised for its leadership and outstanding innovations to the delight of its customers and investors.
In view of its Ambition 2025 strategy, MTN is sure a company to look out for as the year proceeds.
Union Bank
One of the biggest news in the banking sector last year, was the acquisition of Union Bank. Titan Trust Bank (TTB), which was established barely three years ago, bought an 89.4 percent stake in Union Bank of Nigeria Plc, which is one of the oldest banks in the country.
Although, age or number of years of operations don’t matter when it comes to the acquisition of a company, and even though what is most likely a 100% cash deal had prompted the former owners of the financial institution, to divest their shares to TTB, the aftermath of it is highly-anticipated by many, especially the investing public.
Olam
Leading agro-conglomerate, Olam Nigeria, was last year adjudged as the ‘Most Innovative Food Company of the Year’, for providing safe and affordable products.
Priding itself as the producer of Crown Flour Mill Limited (CFM), Agro Technical & Processing Company Limited, Olam Sanyo, OK Foods, Caraway Africa Nigeria, and Outspan Nigeria Limited products, managed record excellent even though inflation was not favourable to manufacturers in the country.
Amongst other recognitions such as -Top Employer in Nigeria, the conglomerate was awarded by the FMDQ Gold Awards for its impactful contributions to the money market. Who else can’t wait for what Olam Nigeria has in store to offer this year?
Dangote Refinery
The exploitation of oil, and its effects have always been a national debate for decades in Nigeria. An average citizen has always wondered why the leadership of his/her country prefers to import the finished products of the crude oil, instead of refining it in the country for development purposes.
This, amongst other reasons, has prompted Aliko Dangote, the African richest man, to establish a 650,000 barrels per day refinery that would address Nigeria’s lingering challenges.
This refinery project is not only poised to improve Nigeria’s forex but is also expected to reduce Nigeria’s alarming unemployment rate. Interestingly, the Dangote Refinery is already programmed to be operational in early 2022.
