Business
Dangote Named Most Admired African Brand, Bags Two More Awards in Addis Ababa
Dangote Industries Limited has been named the most admired African Brand after receiving two more major awards in Addis Ababa over the weekend.
This is another historic milestone for the pan-African investor and the Dangote Industries Limited.
The company garnered three prestigious accolades at the 15th annual Brand Africa 100 awards, held at the iconic Africa Hall in Addis Ababa, Ethiopia—the birthplace of the Organisation of African Unity (OAU), now the African Union (AU).
Dangote Industries Limited was named Most Admired African Brand, following an independent, consumer-led survey conducted across more than 30 African countries.
The company was also inducted into the Brand Africa Hall of Fame, becoming the first African firm to receive this distinction.
The induction recognises Dangote’s transformative impact on African consumers and its influential role in shaping a positive narrative for the continent.
President/Chief Executive, Dangote Industries Limited, Aliko Dangote was honoured with a Lifetime Achievement Award in recognition of his leadership in driving impactful industrialisation, establishing a world-class African brand, and reshaping the continent’s economic future through a benchmark, homegrown enterprise.
Joining Dangote Industries in the inaugural Hall of Fame were MTN, M-Pesa, Ethiopian Airlines, and South Africa, for consistently ranking among Africa’s most admired brands over the past 5 to 15 years and for building sustainable, globally respected brands.
Reacting to the awards, Group Chief Branding & Communications Officer, Dangote Industries Limited, Anthony Chiejina, said the honours reflect the unwavering commitment, excellence, and innovation that define the group’s journey.
He added that they are a testament to the dedication of the company’s outstanding team, partners, and stakeholders, who continue to believe in the mission to drive sustainable development and economic growth across the continent.
“We also extend our heartfelt appreciation for the Lifetime Achievement Award presented to our Founder and President, Aliko Dangote for building a purposeful world-class industrial brand that has exceptionally transformed African lives and the African narrative.
This accolade celebrates not only his visionary leadership but also his tireless efforts in transforming industries, creating opportunities, and championing African enterprise on the global stage.
His legacy is an inspiration to generations of entrepreneurs and leaders across Africa,” he said.
Noting that the recognition would further inspire the company to push boundaries, empower communities, and deliver meaningful value across Africa and beyond, Chiejina reaffirmed Dangote Industries’ commitment to excellence, integrity, and transformative growth.
In his keynote address, United Nations Under-Secretary-General and Executive Secretary of the Economic Commission for Africa, Mr Claver Gatete, praised Aliko Dangote, the Hall of Fame inductees, and the Brand Africa laureates for advancing the African agenda.
He highlighted the alignment between Brand Africa and the ECA’s mission to promote inclusive industrialisation, regional integration, and private sector-led growth.
He also called for increased investment in youth-led innovation, regional value chains, and the establishment of a Pan-African Creative Innovation Fund to identify, finance, and globalise Africa’s most promising brands.
“I wish to particularly acknowledge MTN, Dangote Group, mPesa and Ethiopian Airlines for consistently maintaining their distinguished positions among the “Most Admired African Brands” category and continuing to set benchmarks in brand leadership, innovation and continental impact,” he said.
According to the organisers, the 2025 rankings reveal a stark contrast between rising African optimism and declining brand loyalty.
While 68% of Africans expressed belief in the continent—up from 64% in 2024—only 11% of the Top 100 Most Admired Brands are African, marking a historic low and down from 14% in 2024.
The report indicates the urgent need for homegrown brands to translate belief into consumer loyalty, and for Africans to more actively support Made-in-Africa products and enterprises.
“It is disappointing to see the sharp drop in African brands, which mirrors the ranking of non-African nations as the most influential in Africa,” says Thebe Ikalafeng, Founder and Chairman of Brand Africa.
“It’s a wake-up call for Africa—and a barometer of the continent’s lagging industrialisation agenda. It’s not enough for Africans to say they believe in the continent—they must buy made-in-Africa.
For that to happen, African brands must invest in R&D, continue to innovate, deliver quality, and use authenticity as a differentiator.”
Business
Meta set to charge WhatsApp Business messages from October 1
For example, a Nigerian fintech company sending 500,000 chargeable utility messages could incur about $5,050 in fees from Meta alone, excluding charges that may come from third-party providers or software platforms used to manage the messaging service.
Businesses using Meta’s WhatsApp Business Platform will begin paying for certain messages sent to customers from October 1, 2026, under a new pricing structure announced by the company.
The change applies to organisations that use the WhatsApp Business Platform, formerly known as the WhatsApp Business API, to manage customer communication on a large scale.
Regular WhatsApp users and small businesses using the standard WhatsApp Business app are not the main targets of the new charges.
Under the revised system, the amount businesses pay will depend on the type of message being sent.
Utility messages, including payment alerts, order confirmations and other service-related updates, will cost about $0.0101 per message, while marketing messages will attract a higher fee of approximately $0.062 each.
Although the individual charges appear relatively small, companies that send large volumes of messages could see their communication expenses rise significantly.
For example, a Nigerian fintech company sending 500,000 chargeable utility messages could incur about $5,050 in fees from Meta alone, excluding charges that may come from third-party providers or software platforms used to manage the messaging service.
Business
Dangote Refinery Suspends Petrol Sales To Lagos Depots
Dangote Refinery is prioritising markets where imported products are either unavailable or less dominant, rather than adding more supply to Lagos, which receives substantial volumes of imported petrol.
Dangote Petroleum Refinery has suspended coastal sales of Premium Motor Spirit (PMS) to depot owners and importers in Lagos.
People familiar with the refinery’s operations said that the move is deliberate, aimed at redirecting locally refined petrol to areas where imported supply is scarce.
The suspension is ongoing. A source said: “The suspension of coastal sales to Lagos is still ongoing. It is aimed at redirecting products to locations where imported products are unavailable. Lagos has quite some imported petrol.”
Dangote Refinery is prioritising markets where imported products are either unavailable or less dominant, rather than adding more supply to Lagos, which receives substantial volumes of imported petrol.
The strategy is intended to ensure locally refined petrol reaches areas where it is most needed.
The decision comes amid concerns at the refinery over the volume of imported petrol entering Nigeria.
According to data available to the refinery, imported PMS accounted for about 43 per cent of total petrol supplied into Nigeria in July
Business
Naira Exchange Rates Friday, August 28
Today, the Naira Black Market exchange rate for 1 Great British Pound (GBP) is 1900 Naira. This means that you can get 1900 Naira for every 1 Pound that you exchange.
How much is 100 pounds in naira today?
At the current black market rate of 1900 per pound, 100 British Pounds = 190,000 Naira.
BLACK MARKET RATES
US Dollar (USD) Buy ₦1,405 Sell ₦1,410
Great British Pound(GBP) Buy ₦1,900 Sell: ₦1,920
EURO (EUR) Buy ₦1,595 Sell ₦1,615
Canadian Dollar (CAD) Buy ₦1,020 Sell ₦1,080
South African Rand (ZAR) Buy ₦75 Sell ₦90
Ghana CEDI (GHS) Buy ₦95 Sell ₦110
West African CFA Buy ₦2, 300 Sell ₦2, 400
CENTRAL AFRICAN CFA Buy ₦2,150 Sell 2,250
CBN Exchange Rates
US Dollar (USD) ₦1,338.59
Great British Pound (GBP) ₦1,820.34
EURO (EUR) ₦1,560.12
Swiss Franc (CHF) ₦1,664 91
Chinese Yuan (CNY) ₦199.19
Japanese Yen (Yen) ₦8.40
West African CFA (XOF) ₦2.39
West African Unit Account (WAUA) ₦1,843.17
Saudi Riyal (SAR) ₦356 51
South African Rand (ZAR) ₦83.72
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