Africa Prudential Plc (NGX: AFRIPRUD) is pushing further into Technology Businesses, as it moves to establishes an E-Commerce business.
Africa Prudential Plc was originally incorporated as UBA Registrars Ltd in March 2006. The Company subsequently changed its name to Africa Prudential Registrars Plc in August 2011 and was listed on the Nigerian Stock Exchange in January 2013.
In an effort to expand its business portfolio, AFRIPRUD, then UBA Registrars acquired UAC Registrars Ltd.
To enhance its market competitiveness and diversified business interests, it took on the name Africa Prudential Plc following a special resolution passed by the Members in a General Meeting on March 28, 2017.
In April 2020, Investogist in its report on AFRIPRUD, mentioned the business diversification of strategy of the Registrar. At the time, the company expanded its business activities to include the provision of digital solutions for businesses.
Its flagship digital solutions product known as EasyCoop is a unique software to aid the administration of cooperative societies in Nigeria and other digital business solutions.
The Board of Directors company which now defines itself as “a leading Registrar, Investor Services and Business Support Solutions provider,” will be presenting special resolutions bordering on E-Commerce Businesses amongst others to Shareholders at its upcoming Annual General Meeting.
The 9th Annual General Meeting of the company is schedules to hold on Wednesday March 23, 2022, at Transcorp Hilton Hotel, 1 Aguiyi Ironsi Street, Maitama, Abuja at 2.00 p.m.
According to the notice of the Annual General Meeting released on the Nigeria Exchange, there will be a consideration of resolutions on ordinary business and special business.
On ordinary business, the Audited Financial Statements for the year ended December 31, 2021 together with the Reports of the Directors, Auditors and Audit Committee will be laid before the Shareholders for adoption.
Shareholders will also be asked to approve the declaration and payment of a dividend, re-elect Directors, authorize the Directors to fix the remuneration of the Auditors for the 2022 financial year, elect members of the Statutory Audit Committee and to disclose the remuneration of Managers.
As part of the deliberations under special business, Shareholders will be asked to consider and if thought fit, pass the following as an ordinary resolution:
“That the remuneration of the Non-executive Directors be and is hereby fixed at N42,500,000 (Forty-two million five hundred thousand Naira only) for the year ending December 31, 2022.
Shareholders will also be asked to consider and if thought fit, pass the following as special resolutions: That the Objects Clause of the Memorandum of Association, being the object on the businesses of the Company be amended by the creation of a new sub Articles 3. (as), 3. (at) and 3. (au) 3 (aw), 3 (ax) 3 (ay) and 3 (az) as follows:
- (as) To carry on the business of software designing, development, customization, implementation, maintenance, testing and benchmarking, designing, developing and dealing in computer software and solutions, and to import, export, sell, purchase, distribute, host (in data centres or over the web) or otherwise deal in own and third party computer software packages, programs and solutions, and to provide internet / web based applications, services and solutions, provide or take up information technology related assignments on sub-contracting basis, offering services on-site/ offsite or through development centres using owned /hired or third party infrastructure and equipment, providing solutions/ packages/services through applications services provider mode via internet or otherwise, to undertake it enabled services like call centre management, medical and legal transcription, data processing, back office processing, data warehousing and database management.
- (at) To carry on the business of providing outsourcing services for all processes, sub processes, transactions, activities and all other work performed by business in various industries within Nigeria and across the world. This includes those process or sub processes that are enabled by information technology. it also includes data, voice or video collection and processing, call centre services including in bound and out bound calling services of all kinds, technical support, managed data centre, managed technical centre, training centre, web support back office, business or financial analysis, scientific analysis, research work and analysis, storage, disaster recovery, accounting, pay roll, inventory management, customer relationship management, enterprises resources planning and to develop software, provide consultancy, software solution and services that are normally offered by the outsourcing business and information technology services providers, the software development houses and application services providers.
- (au) To carry on the business of providing manpower placement and recruiting, selecting, interviewing, training and employing all types of executives, middle management staff, junior level staff, workers, labourers skilled/unskilled required by various industries and organizations including oil and gas, information technology and other sectors.
- (aw) To design, develop, invent, improve, carry out research, prepare, own, make use of manufacture, buy, sell, import, export, maintain, repair, alter, convert, distribute, market, license, hire, lease and otherwise deal in all kinds of computer software and programmes for use or application in telecommunication equipment and services fixed or mobile and other value added services computers data-processing machines cards, memory equipment of any other equipment and materials including computer peripherals and accessories of every kind and description useful in connection with computer and electronic hardware and software programmes designed or other substance/things used in or with computer and in telecommunication and in data processing preparation and retrieval products and equipment and telecommunication equipment and products
- (ax) To carry on the business of providing solutions and services related to E –Commerce, Web-Technologies, Internet, including design, develop, maintain, operate, own, establish, install, host, provide, create, facilitate, supply, sale, purchase, licence or otherwise deal in Internet portals, Internet networks, Media Portals, Internet solutions, Internet gateways, Internet service providers, E-commerce, Web-site designing, Web based and Web enabled services and applications, E-commerce service provider, E-commerce solutions, E-commerce platforms, E-commerce education, E-commerce technologies and E-business solutions.
- (ay) To carry on the business of E – Commerce on the Company’s online portals or websites as well as through internet, intranet, stores, stalls or kiosks set up across Nigeria or abroad or in any other manner.
- (az) To carry on the business of providing suggestions, advice, consultancy, training programs and other related services including after sales support services in any form and through any medium, including through online portals, websites, magazines, newsletters, periodicals, journals in any language, relating to financial products or any other products and equipment’s referred to, sold or distributed directly or indirectly by the Company, undertake marketing and publicity of the products and activities of the Company, and hiring or employing expert personnel as and when considered necessary to provide such services.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
