Africa Prudential: Driving growth with digital strategies amid lockdown

Africa Prudential Plc has assured its stakeholders of a brighter future, following the devastating health and economic challenges posed by the Coronavirus pandemic. As the pandemic continues to bite harder on businesses in the meantime, the company said it is determined to drive growth with digital transformation strategies.

This was disclosed by the Managing Director of Africa Prudential Plc, Obong Idiong, in a statement issued by the company and seen by Nairametrics. With a proactive Business Continuity Plan (BCP), the registrar and business solution provider has positioned itsself for post-crisis continuity.

What it means: The company’s BCP involves the work-from-home protocol for all departments and business segments. This approach will enable staff members to attend to all requests through electronic channels.

The company has also commenced the full end-to-end automation of Annual General Meetings (AGMs), whilst providing technology-driven solutions for the corporate action activities of its clients. That means companies that scheduled their AGMs before the lockdown and are now  probably considering postponing them because of the lockdown, may not need not worry.

Africa Prudential’s plan can help companies to hold virtual AGMs, whereby directors of such companies can stay in their boardrooms and share the financial statements with their shareholders and then answer questions from investors. Idiong said:

We will continue to offer services through our various cloud-based digital platforms, sustain ongoing technological projects and adequately position for post-crisis continuity of our business operations.

“Our focus at Africa Prudential is still driven by our digital transformation strategies, achieving world-class superior value for all our stakeholders as we continue to pursue our diversification strategies.”

Meanwhile, Africa Prudential Plc has posted its unaudited financial statement for the first quarter of 2020. The registrar’s profit after tax (PAT) dropped by 10% N0.34 billion, down from N0.45 billion in Q1 2019.

Its revenue from contracts with customers closed at N0.13 billion, compared to the N0.27 billion it recorded in Q1 2019, a 52% drop. With a Gross Earnings of N0.74 Billion and Profit before Tax of N0.41 Billion, Africa Prudential delivered an Earnings Per Share of 17Kobo.

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