Zirateh becomes most awarded agency in automotive on its SLIM Digis debut

Zirateh has secured three awards at the SLIM Digis, becoming the most awarded agency in the Automotive category, in what marks the agency’s first-ever application to the competition. The achievement includes Silver, Bronze and Finalist recognition, marking a significant milestone for the agency and highlighting its growing presence in Sri Lanka’s automotive marketing industry.

The recognition highlights Zirateh’s efforts in an industry that is highly competitive and constantly changing. The agency’s involvement in the campaigns for Jetour, UFS Lanka and Tata PV has not always been well known, even though many consumers may already have come across this work online. The SLIM Digis achievement provides a platform to highlight this.

Commenting on the achievement, Zirateh CEO Damitha Senaratne said, ‘For us, winning three awards in our very first SLIM Digis submission is a significant accomplishment. For years, we have been developing our experience in the automotive industry, and audiences have already seen a large portion of our work online, even if they were unaware that Zirateh was behind it. We have an opportunity to highlight that work and the people who contributed to it thanks to these awards. We’re excited to assist more brands in achieving tangible business results through their social media.’

Zirateh has worked with clients in a number of markets over the last seven years, including the USA, UK, Singapore, and Australia. Its experience in the automotive sector includes working with vehicle dealerships and agents such as Jetour, IM Motors, XPENG LK, TATA PV, Dongfeng Sri Lanka, Perodua, Forthing Sri Lanka, Euro Motors (JAC Double Cabs), Wheels Lanka, and many others. Beyond automotive, the agency has also worked with brands such as PickMe, Uber, Timekeeper Global, Emerald, Signature, DIMO, Diamond Best Foods, etc. reflecting its experience across a range of industries.

For marketing managers and business leaders looking to strengthen their brands’ digital presence, Zirateh’s approach blends industry experience with a structured system designed to produce measurable results. The agency offers a guarantee of one million organic views within 90 days, or it continues working for the client free of charge until that target is achieved. This dedication demonstrates its emphasis on assisting brands in increasing their awareness and generating sales through organic social media performance.

The agency’s award-winning debut is indicative of its ongoing efforts in social media marketing and its emphasis on helping brands in converting digital attention into business impact. With a presence in multiple international markets and experience in the automotive industry, Zirateh hopes to increase this recognition by collaborating with other brands looking to strengthen their digital marketing initiatives.

A one-way strait: The equity anomaly sabotaging Indian investments into logistics

Sri Lanka’s transhipment engine is fundamentally fuelled by Indian cargo, yet an asymmetrical regulatory wall restricts Indian logistics companies from fully participating in the island’s domestic market. While Colombo Port thrives as a primary maritime gateway for the Indian subcontinent, a protectionist legacy in Sri Lanka’s shipping and logistics sector creates a striking policy anomaly. Sri Lankan firms enjoy the freedom of 100% equity ownership in India’s logistics sector, but India and all other foreign nations face a strict 40% foreign equity cap for freight forwarding and shipping agencies in Sri Lanka.

This imbalance presents a structural bottleneck for an island striving to evolve from a basic transhipment stop into a comprehensive regional logistics hub. Without Indian manufacturing and consumer demand, Sri Lanka’s multi-billion-dollar port infrastructure would operate at a fraction of their capacity. Sri Lanka secures immense port revenues and economic stability because of the Indian economic output yet controls the cargo with protection for few operators discouraging investments.

Discussing the subject openly itself is not encouraged and is stopped or targeted by the oligopoly lobby of the Sri Lankan shipping and logistics industry. The Government of Sri Lanka has continuingly been misled by a few personnel who have direct access to the president’s office under any government for decades and stops legal reforms and modernisation.

The transhipment dependency and support for export growth

Sri Lanka’s maritime success is inextricably linked to its northern neighbour. The country sits strategically along the crucial East-West shipping lane, positioning it perfectly to handle the overflow and consolidation of South Asian trade. The Indian share: Approximately 70% to 75% of Colombo Port’s total transhipment volume consists of cargo originating from or destined for India. However, the location has served less over the years and due to lack of scalable choice Sri Lankan exporters and logistics companies are losing competitiveness rapidly under few oligopolistic agency houses controlling logistics technical making it more expensive for cargo movements as its strives competition

The ownership anomaly

Despite this heavy reliance on Indian trade to sustain its maritime and logistics ecosystem, Sri Lanka enforces a strict, protectionist regulatory framework. Under long-standing domestic laws, foreign ownership in shipping agencies and freight forwarding companies is restricted to a maximum of 40%, requiring a 60% local majority partner.

The paradox sharpens when looking across the Palk Strait. Under India’s liberalized foreign direct investment (FDI) guidelines, Sri Lankan companies can hold 100% equity ownership in Indian shipping, logistics, warehousing, and freight operations under the automatic route. Sri Lankan logistics giants have actively utilized this open-door policy, successfully scaling up vast networks within mainland India.

For Indian operators, however, setting up an end-to-end network in Sri Lanka remains legally impossible without diluting their equity and surrendering corporate control to local partners who rely on Indian cargo to run their business.

The risk of holding back liberalisation

Maintaining this regulatory asymmetry poses a severe long-term risk to Sri Lanka’s maritime and logistics dominance. While local oligo lobbyists push for the 40% cap since the 1970’s closed economic model the world has moved on, and all global hubs now have an open-door policy in the sector attracting billions of dollars as FDI. The Sri Lankan protection simultaneously deters global players from making deep capital commitments in value-added logistics infrastructure into Sri Lanka keeping it locked in as a regional transhipment port and affects its export competitiveness directly.

Furthermore, Colombo policy makers must remember, Indian Prime Minister Narendra Modi has been very strategic since he took office in 2015 with a maritime and logistics strategy which is aggressively developing its own maritime and logistics infrastructure with fast reforms. The expansion of direct mainliner services to Indian ports, reforms in cabotage laws, and the construction of deep-water transhipment ports and new logistics centres within India. This means that dependence on Colombo is no longer a permanent necessity for Indian cargo and no Indian company will promote Sri Lanka as a logistics centre with a cap on freight forwarding and shipping.

If Sri Lanka wishes to anchor Indian cargo to its shores permanently, it must move beyond simply acting as a transhipment pitstop. Reciprocal liberalization allowing Indian and international players the corporate security of full ownership. This is the missing link required to transform Sri Lanka into a truly competitive, world-class Indian Ocean logistics hub. Not its location.

The Indian cargo operators in Colombo request the Indian Government’s attention and request its High Commissioner Santosh Jha to take up the serious anomaly in policy with the Government of Sri Lanka.

IAG Cargo launches new Colombo service

IAG Cargo, the cargo division of International Airlines Group, has announced its 2026/27 winter schedule, introducing a new direct service between London Gatwick and Colombo, alongside increased frequencies to Bangkok and Delhi.

Running from October 2026 through to March 2027, the winter schedule strengthens connectivity across key global trade lanes, providing customers with greater capacity and more options for moving goods between Europe, North America, Asia and Latin America.

Effective 23 October, IAG Cargo will operate three weekly services between London Gatwick and Colombo, supporting the movement of key Sri Lankan exports including garments, perishables and rubber products, as well as tyres and components for the global automotive industry. The service will also connect customers to onward destinations across IAG Cargo’s wider international network, including Europe and the Americas.

Frequencies between London Gatwick and Bangkok will double from three to six flights per week, while services between London Heathrow and Delhi increased from 14 to 21 flights per week in September. The winter schedule also maintains extensive connectivity across the Atlantic, with IAG Cargo serving 29 destinations across North America from London, Dublin, Madrid and Barcelona, supporting the movement of goods across key transatlantic trade lanes.

IAG Cargo Chief Sales and Marketing Officer Camilo Garcia Cervera said: ‘Our winter schedule is focused on providing customers with the capacity and connectivity they need across key global trade lanes. The introduction of Colombo, alongside additional services to Bangkok and Delhi, strengthens trade connections between Asia and key markets worldwide. Combined with our extensive North American network and wider winter capacity, these changes give freight forwarders greater choice and flexibility when planning their shipments.’

Lankan envoy in Bangladesh meets Dhaka Chamber of Commerce and Industry

The High Commissioner of Sri Lanka to Bangladesh, Dharmapala Weerakkody, met with the Dhaka Chamber of Commerce and Industry (DCCI) President Taskeen Ahmed, on 18 October 2026 at the DCCI office in Gulshan, Dhaka, to explore avenues for strengthening economic, trade and investment cooperation between Sri Lanka and Bangladesh.

The DCCI is a prominent private-sector business organisation in Bangladesh that represents businesses and entrepreneurs, particularly in Dhaka, and promotes trade, investment and industrial development through policy advocacy, business networking and public-private sector collaboration.

The discussions focused on enhancing bilateral trade and investment by creating opportunities for the business communities of both countries in pharmaceuticals, Information Technology (IT), renewable energy, logistics, tourism and other emerging sectors.

During the meeting, High Commissioner Weerakkody briefed the DCCI President on Sri Lanka Expo 2027, Sri Lanka’s premier international trade exhibition, scheduled to be held from 14 to 17 January 2027 at the Bandaranaike Memorial International Conference Hall (BMICH) in Colombo. He invited the DCCI to facilitate the participation of a business delegation at the exhibition, which will provide a platform for businesses from both countries to explore trade, investment and commercial partnerships.

The DCCI President welcomed the initiative and expressed a positive response to the proposed participation of a business delegation at Sri Lanka Expo 2027, highlighting the potential to strengthen business-to-business linkages and expand bilateral trade and investment.

Highlighting advances in the artificial intelligence (AI) sector in both countries, the DCCI President invited Sri Lanka to participate in the ‘Bangladesh AI Business Summit 2026’, organised by the DCCI in partnership with the Ministry of Science and Technology (MoST) of Bangladesh. The Summit is scheduled to be held on 5 November 2026 at the Bangladesh-China Friendship Conference Center (BCFCC) in Sher-e-Bangla Nagar, Dhaka.

The meeting also underscored the importance of strengthening direct engagement between the private sectors of Sri Lanka and Bangladesh and identifying new areas of collaboration to support sustained economic growth and closer bilateral relations.

The Second Secretary of the High Commission of Sri Lanka in Dhaka, Gayanga Dias, the DCCI Vice President Salem Sulaiman, and other senior DCCI officials were also present at the meeting.

Rain, runoff, rocks and mud slam Phuket

Persistent rain caused runoff that washed big rocks and mud into communities and tourist venues in this southern island province on Monday morning.

As much as 142.8 millimetres of rain pounded Phuket over 24 hours, generating runoff that tore into communities and attractions in tambon Patong of Kathu district. Damaged areas included Na Nai Nai 5 and 8 roads. Shopfront windows were shattered and many vehicles inundated.

Patong municipality quickly opened shelters for affected householders at its office, Wat Suwankeereewong School and Patong Bay Hill hotel, as work crews laboured to clear away the rocks, mud and accumulating garbage.

The torrential rain also caused flash floods in parts of Muang and Thalang districts.

Phuket was one of several southern provinces hit by flooding as of Monday morning. The Department of Disaster Prevention and Mitigation said floods were also reported in Palian district of Trang; Tha Phae, Manang and Thung Wa districts of Satun; and Chawang and Thung Song districts of Nakhon Si Thammarat.

The Meteorological Department forecast is for heavy rain continuing in the South into Wednesday as the monsoon trough strengthens over the South.

From Thursday to Saturday rainfall is expected to ease off in the South, with the exception of its eastern coast, affected by easterly winds.

Phuket flooding picture gallery:

Nirosh De Silva elected JASTECA President for 2026/28

Nirosh De Silva has been elected President of the Japan Sri Lanka Technical and Cultural Association (JASTECA) for the 2026-2028 term at the Association’s 40th Annual General Meeting held recently.

His election marks a new chapter for JASTECA, with a renewed focus on innovation, Japanese management excellence, professional development, youth engagement and stronger collaboration between Sri Lanka and Japan.

Established in 1984, JASTECA plays an important role in strengthening bilateral relations by promoting Japanese management practices, technical knowledge, cultural understanding and business cooperation. The Association also supports the development of Sri Lankan professionals through training opportunities facilitated by the Association for Overseas Technical Cooperation and Sustainable Partnerships (AOTS) in Japan.

Under the new leadership, JASTECA aims to further expand its contribution to Sri Lanka’s industrial and economic development by promoting the principles of Kaizen (continuous improvement), 5S, Lean Management and operational excellence, alongside digitalisation, environmental, social and governance (ESG) practices, and sustainable business development.

A key priority will be to connect traditional Japanese management philosophies with modern business innovation and emerging technologies, enabling Sri Lankan organisations to enhance productivity, quality, competitiveness and sustainability in an increasingly challenging global business environment.

The new administration also intends to strengthen professional development opportunities for AOTS alumni, encourage greater participation by young professionals, and create stronger platforms for knowledge-sharing between industry leaders, academics, entrepreneurs and Japanese partners. Revitalising youth-focused initiatives and expanding corporate engagement are expected to be important elements of this effort.

JASTECA’s National Awards program will continue to provide a platform for recognising organisations and professionals that demonstrate excellence in Japanese management practices, particularly in 5S, Kaizen, corporate social responsibility and ESG. These initiatives are intended to encourage a culture of continuous improvement and recognise practical innovations that contribute to organisational and national development.

The Association will also seek to deepen its engagement with the Embassy of Japan in Sri Lanka, AOTS, the Japan International Cooperation Agency (JICA), the Japan External Trade Organisation (JETRO), Japan Sri Lanka business council and other institutional partners to create further opportunities for technical cooperation, professional exchange and bilateral trade.

With a professional background spanning human resource development, and organisational development, De Silva brings extensive corporate experience to the presidency. His leadership is expected to place particular emphasis on strengthening institutional governance, enhancing member engagement and translating the Association’s objectives into practical, measurable outcomes.

The 2026-2028 term will focus on building a more connected and future-oriented JASTECA, one that preserves the enduring values of Japanese management while embracing innovation, sustainability and digital transformation.

Through closer cooperation between Sri Lankan and Japanese stakeholders, JASTECA aims to reinforce the longstanding friendship between the two countries and contribute to a more productive, innovative and globally competitive Sri Lankan economy.

The people’s IPO gains momentum as Access Bank Botswana creates access to Africa’s largest industrial opportunity

For the first time, investors in Botswana and the participating SADC markets can take part in a landmark African initial public offering from their own exchange. The offering of Dangote Petroleum Refinery and Petrochemicals FZE (‘Dangote Refinery’), embraced as ‘The People’s IPO’, reaches Southern Africa through Botswana Depository Receipts (‘BDRs’) issued by Access Bank Botswana Limited as Unsponsored Depository, a first-to-market structure for the Botswana Stock Exchange (‘BSE’). The window to join the refinery’s first generation of public shareholders is now in its final days.

Botswana, like many of its neighbours, imports virtually all of the refined fuel that powers its homes, mines, farms and transport. The BDR programme changes that relationship, giving Batswana the chance to move from consumers of that fuel to part-owners of the refinery that produces it.

The structure removes the barriers that have historically kept African savers out of Africa’s largest industrial assets. Investors apply through any BSE member broker in Botswana, or through their local licensed broker in participating SADC markets, with no Nigerian account needed. Each BDR is backed one-for-one by a Dangote Refinery share at ?525.00, the same offer price available to investors in Nigeria. In Botswana, this means BWP 5.85 per BDR and a minimum of 100 receipts. The underlying shares are held in Nigeria by Access Bank Plc as custodian, in a segregated account that is reconciled daily and ring-fenced from the Bank’s own balance sheet.

Momentum has built steadily since the Southern Africa Investor Roadshow in Gaborone on 14 October 2026, where Mr. Aliko Dangote, Founder and President of the Dangote Group, presented the investment case in person. Convened with the BSE and the Committee of SADC Stock Exchanges (‘CoSSE’), the roadshow reached investors across the region through virtual hubs, turning a national listing into a regional event.

Access Bank

Sheperd Aisam, Managing Director of Access Bank Botswana Limited, said: ‘When we announced this programme, we spoke of a teacher in Francistown owning a piece of the largest refinery on the continent. That is now within reach. The People’s IPO means exactly what it says: the same share, at the same offer price, with the same protections, whether you sit on a pension fund investment committee in Gaborone or you are investing your first savings through a broker in Maun. Every Motswana who fills a tank, runs a farm or rides a combi already depends on Africa’s energy future; now they can own a share of it. When this offer closes on 27 October, the register of the refinery’s first public shareholders will be set, and Botswana’s investors will be on it. This is history in the making, and we are proud to have built the pathway to it. Speak to your stockbroker and be part of the People’s IPO.’

The opportunity rests on an asset that is already operating at scale. Dangote Refinery reported unaudited revenue of US$22.5 billion and profit after tax of US$4.7 billion for the nine months ended 30 September 2026, with refinery utilisation reaching 105% of nameplate capacity in August 2026. Proceeds from the offering will fund a second refining train, doubling capacity to 1.4 million barrels per day. The issuer has stated that it intends, subject to applicable laws and regulations, to declare dividends in US Dollars.

BDR applications close on 27 October 2026. Investors should read the full Prospectus here, including risk factors, and take independent advice before applying.

Botswana fails Global Tax Transparency test as OECD flags gaps

Botswana still has no bilateral arrangements for exchanging multinational companies’ tax reports years after an international watchdog first raised the issue.

A newly reeased Country-by-Country Compilation of 2026 Peer Review by the Organisation for Economic Co-operation and Development’s (OECD) has revealed that Botswana has failed to establish key international arrangements required to exchange tax information on multinational companies. This has left the country facing a longstanding transparency gap under.

The findings which where prepared under the Inclusive Framework on Base Erosion and Profit Shifting (BEPS) action 13, further reveal that Botswana has no bilateral relationships in place for exchanging country-by-country (CbC) reports; a critical mechanism designed to help tax authorities scrutinise the activities of multinational enterprises and assess whether profits are being reported and taxed appropriately across jurisdictions.

The shortcoming is not new. The OECD said the same recommendation was made during Botswana’s 2018/2019 peer review and remains unresolved in the 2026 assessment. It is understood that the continued absence of qualifying exchange arrangements raises questions about Botswana’s ability to participate effectively in the international sharing of multinational tax information even as it has introduced domestic legislation requiring country-by-country reporting. The OECD report acknowledges progress on domestic legislation. Botswana has introduced a filing requirement for country-by-country reports, removing an earlier recommendation that it enact legislation imposing the obligation. However, the international body says it has not yet been possible to review the legislation. The assessment of Botswana’s domestic legal and administrative framework will therefore be included in the next peer review.

The report’s overview lists several essential details as ‘TBC’ (to be confirmed), including the first reporting fiscal year, the consolidated group revenue threshold, the filing deadline, whether local filing is required, whether surrogate parent entity filing is permitted and when the domestic framework will first be reviewed. The country-by-country reporting is designed to give tax authorities a consolidated picture of large multinational groups’ operations across different jurisdictions.

The most persistent concern is Botswana’s failure to establish qualifying agreements for the automatic exchange of country-by-country reports with relevant jurisdictions. The OECD recommends that Botswana secure qualifying competent authority agreements with jurisdictions that belong to the Inclusive Framework, provided the necessary conditions are met and an international agreement allowing automatic exchange of tax information is already in effect.

These arrangements are intended to ensure that tax information can be exchanged securely and consistently with appropriate safeguards governing its use.

The report suggests that without such arrangements, Botswana lacks the established bilateral framework needed to receive and exchange these reports through the OECD’s country-by-country reporting mechanism.

The OECD’s recommendation has remained in place since the 2018/2019 review, making the issue a longstanding challenge rather than a newly identified weakness. The assessment also records improvements in two areas that were previously flagged by the OECD. Botswana has established processes or written procedures intended to ensure that information exchanges comply with the relevant terms of reference. The recommendation on those procedures has consequently been removed.

The country has also introduced controls to ensure that country-by-country reports are used appropriately. The OECD has therefore withdrawn its earlier recommendation on appropriate use. These developments indicate progress in preparing the administrative safeguards needed for international tax-information sharing. However, the absence of bilateral exchange relationships remains a central obstacle.

The distinction is important: having domestic filing requirements and safeguards for handling tax reports does not, on its own, establish the international agreements necessary to exchange those reports with other tax authorities. The findings come amid sustained international efforts to combat base erosion and profit shifting, practices through which multinational enterprises may exploit differences between national tax systems to shift profits away from jurisdictions where economic activity takes place.

The OECD/G20 BEPS Action 13 standard seeks to strengthen tax authorities’ access to information about the global allocation of income, taxes paid and indicators of economic activity within multinational groups.

First HoldCo, Seplat, HBM lead Nigeria’s big corporate stock returns

Big corporate stocks on the Nigerian Exchange Limited (NGX) have seen an unprecedented wave of capital reallocation this year, and sitting comfortably at the vanguard of this financial renaissance are First Holdco Plc, Seplat Energy Plc, and HBM Nigeria Plc.

Overtaking its traditional NGX Premium Board peers, First Holdco has recorded a 186.64 percent year-to-date (YtD) return, decisively rewriting valuation norms across the local bourse.

This trajectory reflects a major shift in market sentiment, transitioning the conglomerate from a historical value play into an aggressive growth leader.

Driving this market-beating momentum is a powerful convergence of aggressive retail accumulation, institutional positioning, and renewed confidence following strategic balance sheet restructuring.

While fellow elite banking and industrial heavyweights on the Premium Board have posted respectable mid-tier gains, First Holdco’s parabolic ascent to stand at N137.3 as at October 19 highlights how effectively the group has unlocked underlying shareholder value.

BusinessDay’s trend watch shows other Premium Board companies and their returns year-to-date (YtD), such as MTNN (61.45 percent), Dangote Cement (65.52 percent), Seplat (175.44 percent), First Holdco (186.64 percent), HBM Nigeria (163.94 percent), Zenith Bank (100.65 percent), UBA (0.84 percent), and Access Holdings (33.10 percent).

In the basket of eight Premium Board Companies, investors have increasingly rewarded First Holdco for its decisive measures to clean up legacy exposures and optimise its expansive financial services ecosystem.

This exceptional outperformance also highlights a broader structural reallocation toward deeply liquid, highly capitalised tier-one Nigerian equities capable of hedging against macroeconomic volatility.

As market participants search for robust vehicles to preserve capital and outpace inflation, First Holdco’s liquidity depth and massive market capitalisation, hovering around N6.243trillion territory as at October 19 have made it an unavoidable destination for both domestic and foreign portfolio flows.

NGX Premium tracks the Premium Board companies in terms of market capitalisation and liquidity. It is a price index and is weighted by adjusted market capitalisation – the number of a company’s listed shares, multiplied by the closing price of that company, multiplied by a capping factor. Only fully paid-up common shares are included in the index.

As the NGX navigates through market dynamics, the Premium Board continues to serve as the crown jewel for institutional and retail investors seeking liquidity, solid governance, and impressive capital appreciation.

For instance, the performance of the NGX Premium Board highlights a market favouring high-conviction growth stocks, particularly within financial services and energy sectors.

While top performers like First Holdco, Seplat and HBM Nigeria have yielded extraordinary triple-digit windfalls, the diverse spread of returns emphasises the importance of portfolio rebalancing and strategic stock selection tailored to risk appetite.

Energy titan Seplat followed First Holdco closely behind with a stellar 175.44 percent YtD return, trading at N16,000.10 and boasting a market cap of N9.599 trillion. Seplat Energy Plc has continued to demonstrate phenomenal financial muscle and capital growth.

Backed by robust performance in the oil and gas exploration and production sector, Seplat stands out as one of the most rewarding large-cap investments for equity holders. Delivering an explosive 175.44 percent YtD return, Seplat has heavily rewarded investors, comfortably outperforming broader market indices and solidifying its status as an elite capital-growth engine.

Seplat’s ability to combine robust fundamental earnings with aggressive capital appreciation makes it a cornerstone asset for portfolios targeting the oil and gas sector. For investors looking for heavy-hitting exposure backed by solid structural valuations and extraordinary capital gains, Seplat remains a premier benchmark of success.

Meanwhile, HBM Nigeria (N355 per share as at October 19) also delivered massive gains at 163.94 percent YtD, cementing the dominance of top-tier growth plays.

As a heavyweight contender on the NGX Premium Board, HBM Nigeria Plc has established itself as an exceptional wealth-generator for investors. Backed by solid market positioning in the industrial goods sector, the company’s strong performance highlights why it remains a focal point for capital appreciation.

Investors who positioned themselves in the stock early this year have enjoyed explosive capital gains, mirroring the bullish momentum seen in select heavy-hitting industrial and energy plays.

Zenith Bank successfully crossed the milestone triple-digit threshold, recording a 100.65 percent YtD return with a share price of N124 as at October 19 and a N5.092 trillion market valuation, proving that tier-1 banking institutions remain a staple for wealth creation.

Market heavyweights MTNN (N17.321 trillion market cap) and Dangote Cement (N17.008 trillion market cap) demonstrated solid, defensive growth, posting respectable YtD returns of 61.45 percent and 65.52 percent respectively, while trading at N825 and N1,008.

While Zenith Bank doubled investors’ capital, other financial institutions like Access Holdings (33.10 percent) and UBA (0.84 percent) experienced more subdued momentum, presenting potential value or consolidation phases for long-term investors.

Crucially, for First Holdco Plc that blazes past others, the 186.64 percent YtD milestone serves as a powerful validation of the holding company structure adopted by the group, enabling greater operational agility and targeted capital allocation across its diverse banking, merchant, and asset management subsidiaries.

By streamlining its risk architecture and improving core revenue generation, the firm has successfully dismantled historical valuation discounts that previously separated it from its closest index rivals.

As the market steers into the final stretch of the year, all eyes remain fixed on whether First Holdco, Seplat Energy, and HBM Nigeria can sustain this blistering momentum against tightening monetary levers and shifting macroeconomic headwinds.

Yet, by decisively outrunning their NGX Premium benchmark peers, these companies have firmly cemented their status as the defining market darlings of the current trading cycle, signalling a bold new chapter for West Africa’s capital markets.

Teams Squared strengthens global legal operations with ISO 27001 certification

As legal teams become increasingly global, the conversation around offshore talent is evolving. Access to experienced professionals remains important, but for law firms and in-house legal teams considering a distributed workforce, another question carries equal weight: how can confidential information remain protected when legal work is being handled across borders?

Teams Squared, the Singapore-headquartered Alternative Legal Service Provider (ALSP) connecting law firms and in-house legal teams across Australia, the UK, the US and beyond with top legal talent from emerging markets, has taken a significant step in addressing that question by achieving ISO/IEC 27001 certification. The internationally recognized standard for information security management was awarded to Teams Squared Pte Ltd by Universal Quality Standards Registrar (UQSR), following an independent audit of the company’s Information Security Management System (ISMS).

For Teams Squared, the certification applies directly to the way its remote talent model operates. Its scope covers the lifecycle of a consultant’s engagement, from recruitment, shortlisting, and onboarding through to placement and offboarding. Associated HR processes, remote work training, and the secure provisioning and de-provisioning of devices are also included. In preparing for certification, the company documented these activities in depth, establishing clear procedures around areas such as device procurement, access, provisioning and offboarding. The result is a consistent approach to managing security from the moment a consultant enters the Teams Squared ecosystem through to the conclusion of an engagement.

That structure is important because information security is not static. ISO 27001 certification is awarded following an independent assessment of an organization’s controls, policies and processes against the ISO standard’s requirements, and maintaining certification involves ongoing surveillance audits. By turning critical security procedures into documented and repeatable processes, rather than relying on informal practices, Teams Squared has created an ISMS that can continue to develop as its operations expand and security expectations change.

This is particularly relevant in legal services, where confidentiality is fundamental to the relationship between a firm and its clients. Legal professionals may have access to privileged communications, sensitive client matters, commercial agreements, and personal data. Whether those professionals are sitting in the same office as the rest of the team or working remotely from another jurisdiction, the responsibility to protect that information remains.

For law firm partners, legal team owners and senior management, the certification therefore provides something more tangible than an assurance that security is taken seriously. It provides an independently assessed, internationally recognized framework against which Teams Squared’s information security practices can be considered. It can also support the due diligence clients undertake when engaging external providers, providing a recognized reference point for security questionnaires and professional-indemnity requirements.

It also speaks to one of the recurring considerations around offshore engagement: maintaining control across geographically distributed teams. Teams Squared’s security practices are governed by a single certified management system across its operations, meaning the framework protecting client information does not change simply because a legal professional is based in a different location.

‘For law firms, security is not simply an IT concern. It is fundamental to the trust they place in every partner who has access to their systems and information. Achieving ISO 27001 certification demonstrates that our security practices are built around a recognized international standard, with the controls, processes and accountability to support that commitment. For our clients, particularly those working with us offshore, it provides additional assurance that distance does not mean a compromise in how their data and technology are protected,’ said Akil Fernando, IT Systems Lead at Teams Squared.

Founded in 2023, Teams Squared operates from offices in Singapore, Australia and Sri Lanka and serves a global client base by embedding remote legal professionals within international teams. As its footprint continues to grow, the company sees establishing internationally recognized operational standards as an important part of building a business capable of supporting leading professional services firms globally.

‘We’ve always believed that building a global company requires global standards. Achieving ISO 27001 certification is another step in building Teams Squared into an organization that the world’s leading professional services firms can trust with critical parts of their operations. Growth matters to us, but building the right infrastructure underneath that growth matters just as much,’ said Amresh Selvaskandan, Co-Founder and COO of Teams Squared.

For more information about Teams Squared and its services, visit www.teamsquared.io or contact [email protected].