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 Business › Pepsico Announces New $1.25bn Ten-year Green Bond by postbox(op): 7:13pm On Jul 26, 2022 |
PepsiCo has announced the closing of a new $1.25 billion ten-year green bond, as it looks to accelerate its pep+ (PepsiCo Positive) agenda. The company will use an amount equivalent to the net proceeds from the offering to fund green projects that focus on two pillars of its pep+ agenda: ‘positive agriculture’ and ‘positive value chain’. The new green bond is PepsiCo’s second since 2019, and $858 million in equivalent proceeds from the first are already allocated to eligible green projects across six continents. “We were one of the first food and beverage corporations to issue a green bond and that initial funding has played a critical role in our sustainable transformation so far,” said Jim Andrew, chief sustainability officer at PepsiCo. “While tackling the climate crisis requires a collaborative effort, it is clear that the private sector must play a leadership role. Our new green bond will be pivotal to channelling investment into the critical areas required to build a more sustainable and resilient food system.” SOURCE:https://brandspurng.com/2022/07/26/pepsico-announces-new-1-25bn-ten-year-green-bond/
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| Health › Why Sitting Is The New Smoking by postbox(op): 6:16pm On Jul 26, 2022 |
Most of us sit for hours every day – in traffic, at work, or while we watch our favourite TV shows at night. The shocking reality is that all this sitting for hours on end may be killing us. Sitting may seem like a really harmless activity, but medical experts say that doing so for long periods of time every day is associated with serious health problems like Type 2 diabetes, joint pain, blood clotting and cardiovascular disease. You may have heard the phrase, “sitting is the new smoking”, which is credited to Dr. James Levine, Professor of Medicine at the Mayo Clinic. He has spent years studying the science of sitting, and the unintentional danger we put ourselves in each day by leading sedentary lives. Human bodies were not designed to sit as much as we do, says Dr. Levine. Our ancestors spent most of their lives upright as they hunted for, and grew food – only occasionally sitting down for breaks. In his book Get Up! Why Your Chair Is Killing You, he states that we’ve gone from an ancient world of movers to a modern world of chair sloths. If sitting is so relaxing, why is it bad for you? The problem lies in how much of it, and for how long, we sit each day. When our bodies are in a static position for a lengthy period of time, all kinds of bad things happen, such as blood circulation – which is crucial for good health – slows down, affecting every system of the body. Poor blood circulation allows fatty acids to build up in the blood vessels, leading to heart disease. And, according to World Thrombosis Day, another risk is that when your legs remain still for hours, your calf muscles don’t contract, which normally helps blood circulate. This can lead to deep vein thrombosis (DVT), where clots form in the calves of your legs if your calf muscles don’t move for long periods. DVT is a serious problem. If a part of the blood clot breaks off it can travel to the lungs, and cause blockages. This is called a pulmonary embolism (PE), and it may be fatal. What You Can Do Try and assess how many hours you spend “bottom-bound” in a day, including commuting to work, sitting at your desk, running errands in your car, and on the couch at night. Added up, it’s probably more than you think. Children who lead a sedentary life and sit for hours playing video games and watching TV instead of playing outside, are at risk of health complications, too. It’s clear that excessive sitting is impacting people negatively, just as smoking has over the years, so how can you break the habit? It’s not enough to just stand up all day long, says Dr. Helen Okoye, a leading Nigerian thrombosis specialist who is part of the global World Thrombosis Day steering committee. Having your body stay still in any static position – whether it’s sitting, standing or lying down – day after day, isn’t good for you. And, she adds, while it’s important to exercise, like going for a run or to the gym, exercise alone is not enough to offset the negative effects of too much sitting. Sitting is an independent risk factor, and its solution lies in incorporating as much movement into your day as you can. Stay Moving “It’s all the little movements we do in the day that matter. The trick is to build movement into every part of your life,” advises Dr Okoye. “During your work week, break up chair time by staying in motion whenever possible. Stand up while you’re talking on the phone, go for a walk during lunchtime, and take a five-minute standing break for every hour that you sit down. “If you know that you’re going to be seated for long periods of time, like at a conference, wear loose-fitting clothing that allows blood to circulate, and stay hydrated by drinking water, to help thin the blood,” says Dr. Okoye. At home, dance while you’re cooking or cleaning the house, and go for a walk with your children at the end of the day when all the family is home. When you’re out shopping, park further away from wherever you’re going and walk the rest of the way. Take the stairs instead of lifts or escalators – or at least walk up the escalator. Every minute of physical activity counts. While there’s definitely room for sitting in our day, the bottom line is that we need to give serious thought to how we transform our sitting choices from habitual to intentional. “Make it a daily habit to move more,” says Dr. Okoye. “The less you keep your body in a static position throughout the day, the better your chances for living a healthy life.” SOURCE:https://brandspurng.com/2022/07/25/why-sitting-is-the-new-smoking/
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| Politics › Power Nigeria Returns As Nigeria Energy To Drive Growth Of Power Production by postbox(op): 7:44pm On Jul 21, 2022 |
Informa Markets is delighted to announce that after 8 highly successful editions, Power Nigeria has now evolved into Nigeria Energy – a transformation designed to ensure Nigeria’s leading event remains at the forefront of the rapidly evolving energy sector. Nigeria Energy was rebranded from Power Nigeria in 2020 to reflect the evolving nature of producing electricity and delivering energy security. Driven by extensive outreach and stakeholder engagement, this strategic move builds on the legacy of Power Nigeria and takes the event to a new level ensuring it meets the needs of Nigeria’s people, businesses, and industries. Following a two-year break, Nigeria Energy will return to take place at the Landmark Centre, Lagos from 20-22 September 2022. In addition to an exhibition featuring some of the largest and most innovative power companies, from conventional thermal power generation through to transmission and distribution (T&  ) and renewable energy and energy storage, Nigeria Energy will provide a thought leadership platform for key government stakeholders and private sector companies and investors from across the world to connect, share ideas and knowledge and find solutions to meet Nigeria’s growing energy needs.Accelerating Nigeria’s sustainable energy supply, the show will provide a blueprint for Nigeria’s power sector in the coming years to not only improve access to electricity but also drive economic growth and create jobs across West Africa. New this year, the Nigeria Energy Conference Steering Committee has been formed to address the current challenges and opportunities within the African power market and have been pivotal in providing direction to the conference theme. Some of the confirmed committee members are from Nigerian Electricity Regulatory Commission, Transmission Company of Nigeria, Rural Electrification Agency, Federal Ministry of Power – Nigeria, National Assembly – Nigeria, Women in Renewable Energy Association and more. Key discussion themes at Nigeria Energy Conference will include: Building capacity: establishing a strategic framework and regulatory framework to support the growth of power production in Nigeria Finance and investments: developing procurement models and payment mechanisms to attract regional and international capital Digitalisation, data, and technologies: increasing efficiency and supporting collections and payments for distribution companies The renewable energy opportunity: diversifying the energy mix and off-grid and mini-grid solutions to meet Nigeria’s power demand “The Nigeria Energy exhibition is a one-stop-shop where you can be rest assured to engage with the highest level of decision-makers and international partners that have a role in creating value while addressing the needs inherent to the lingering challenges within the Nigerian power market”, explains Ade Yesufu, Exhibition Manager – Energy portfolio – MEA, Informa Markets The exhibition sees support from the industry with SkipperSeil Limited, a global leader in power and infrastructure, confirmed as the Main Sponsor, Simba Group as the Platinum Sponsor, Tranos as the Gold Sponsor, while Eaton, Lucy Electric, and Jubaili Bros are confirmed as Silver Sponsors. SOURCE:https://brandspurng.com/2022/07/21/power-nigeria-returns-as-nigeria-energy-to-drive-growth-of-power-production-in-nigeria/
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| Politics › History Made As NNPC Transitions Into Limited Liability Company by postbox(op): 10:53pm On Jul 20, 2022 |
The African Energy Chamber (AEC) wholeheartedly supports and congratulates the inauguration of the Nigerian National Petroleum Company (NNPC) Limited and its official transition to a private entity, thus initiating a monumental shift in active engagement, accountability and value that is expected to reshape Nigeria’s petroleum industry, while simultaneously acting as a model for other National Oil Companies on the continent. Inaugurated by Nigerian President Muhammadu Buhari on 19 July, the transition from NNPC Group to NNPC Limited is regulated in line with the provisions of the Petroleum Industry Act 2021. This transition will create a significant departure from the company’s previous operations, whereby major decisions had to be made based on the Federal Executive Council approval, thus exalting NNPC Limited with higher expectations around regulatory compliance, active engagement with stakeholders, and perhaps most significantly, accountability. “This is the beginning of something new. Mele Kolo Kyari and his team have done an amazing job towards this implementation. The strategic importance of this transition will allow Nigeria’s petroleum industry to uphold the highest levels of professionalism and innovation while allowing the company to operate in strategic engagements globally,” states NJ Ayuk, Executive Chairman of the AEC, adding, “Rather than rushing into the elimination of oil and gas, NNPC and Nigeria will now be able to more nimbly, transparently, and efficiently take advantage of its hydrocarbons and natural resources to bring more value and wealth to the country and its people.” The creation of the NNPC Limited follows a decrease in crude oil production in 2022 compared to the same six-month period in 2020 and 2021 and is expected to place greater emphasis on corporate governance and operational excellence – fast-tracking development and bringing Nigeria back to the top of African oil production levels. In order to achieve these goals, four committees have been established to provide oversight of the entity’s functions of planning and implementation and define a framework for monitoring the company’s performance. These committees include the Board Establishment Committee; the Board Finance, Strategy, and Investment Committee; the Board Sustainability Committee; and the Board Audit Committee. The launch of NNPC Limited, which allows the company to become listed on the stock exchange with the sales of its shares now available to the public, positions the company on the same operational level as other successful state-owned petroleum corporations, such as Brazil’s Petrobas and Saudi Arabia’s Aramco. The new, innumerable opportunities that this structuring will bring to Nigerians, Africans, and international investors and stakeholders will be showcased at this year’s African Energy Week (AEW) 2022, which will take place on 18-21 October in Cape Town, South Africa, exhibiting NNPC Limited as the company of tomorrow. AEW is the AEC’s flagship interactive exhibition and networking event that seeks to unite African energy stakeholders, drive industry growth and development, and promote Africa as the number one destination for African-focused events for the future of the continent’s energy sector. SOURCE:https://brandspurng.com/2022/07/20/history-made-as-nnpc-transitions-into-limited-liability-company/
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| Business › Cassava Technologies Announces $50m Strategic Investment From C5 Capital by postbox(op): 10:35pm On Jul 19, 2022 |
Cassava Technologies (Cassava) Africa’s first integrated tech company of continental scale, announced today that it has secured a US$50 million investment from C5 Capital (C5), a specialist venture capital firm that invests in cyber security, space, and energy security. The investment is part of a broader funding round to accelerate Cassava’s growth. The investment by C5 will contribute to the acceleration of the work that Cassava has undertaken to increase digital connectivity and inclusion on the continent. Cassava will be the go-to market partner in Africa for C5’s cutting edge portfolio companies to deliver best-in-class cyber security, satellite and space technology and clean energy. C5 and Cassava already announced a joint venture through which Haven Cyber, a C5 portfolio company and Cassava will scale Microsoft’s suite of cybersecurity products across Africa to help combat the threat of cybercrime. According to Strive Masiyiwa, Founder and Executive Chairman of Cassava Technologies, “This investment from C5 is part of our plan to raise additional growth capital whilst diversifying our investor base. We are delighted that C5 has joined us to help realise our vision of a digitally connected future that leaves no African behind”. Cassava Technologies has operations in more than 20 African countries and has been at the forefront of bringing innovative technology solutions to local businesses and individuals. Through its extensive offering that includes fibre networks, data centres, renewable energy, cloud, and cyber security, and fintech and digital platforms, the company provides digital solutions to over 1 million enterprises and access to the internet for over 500 million people in Africa. “We are delighted to partner with Cassava Technologies, to bring the most innovative cyber security, space and energy security products and services to African markets,” said André Pienaar, Chief Executive and Founder of C5 Capital. Through the partnership between Haven Cyber (a portfolio company of C5) and Liquid Cloud & Cybersecurity (a business of Cassava), C5 and Cassava aim to bring expertise in cyber security to Africa by launching a network of state-of-the-art Cyber Security Operations Centres (CSOCs) across Africa. The CSOC network will enable the rapid delivery of cyber security services and operations on the continent. The first such CSOC is set for launch in South Africa later this year. Pienaar continued, “Following the launch of Cassava Technologies’ cutting-edge Cyber Security Operations Centre (CSOC) planned for Johannesburg later this year, we see tremendous growth potential for Cassava Technologies’ cyber security business to help protect African enterprises and communities.” Hardy Pemhiwa, the President and CEO of Cassava, added, “Recent industry reports highlight that cyber security threats cost Africa close to US$4.1 billion in lost GDP in 2021. This is primarily due to the massive increase in the adoption of technology in businesses and governments across Africa and increased vulnerabilities as cyber-attack technologies evolve. Today’s investment from C5 and our pan-continental partnership will enhance our ability to enable our customers build secure and stable cloud based digital services critical to transforming lives on the continent.” SOURCE:https://brandspurng.com/2022/07/18/cassava-technologies-announces-50m-strategic-investment-from-c5-capital/
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| Business › MTN Group To Buy South Africa’s Telkom by postbox(op): 9:46pm On Jul 18, 2022 |
MTN Group, Africa’s largest telecommunications provider, is making plans to acquire Telkom, a South African telco. Lastweek, the companies said they were in discussions over a deal for MTN to buy all of Telkom either with shares or a combination of cash and stock. “Discussions are at an early stage and there is no certainty that the transaction will be consummated,” MTN and Telkom said in separate statements issued via the Johannesburg Stock Exchange. The news set Telkom’s share price alight, pushing it over 30 per cent higher, while MTN was up nearly 5 per cent. MTN is South Africa’s second-biggest telecommunications provider while Telkom is the third-largest. According to Reuters, the deal between MTN and Telkom, if successful, would bolster MTN in its competition against Vodacom Group, the market leader. The news agency said the deal would give MTN access to Telkom’s fiber assets, seen as a must for expanding 4G and 5G mobile services. “It (the proposed deal) does make sense in every way. We’re seeing this happening in many other jurisdictions, where the mobile operators are consolidating with fixed line players,” Peter Takaendesa, head of equities at Mergence Investment Managers, said. “The key reason for that really is, as you move towards 4G and 5G, you need more fibre to connect your mobile network.” SOURCE:https://brandspurng.com/2022/07/18/mtn-group-to-buy-south-africas-telkom/
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| Business › Nigeria’s Inflation Rate Has Risen To 18.60 Percent, Causing Concern by postbox(op): 9:38pm On Jul 18, 2022 |
Nigeria’s inflation rate increased for the seventh consecutive month in June, rising to 18.6 percent, up 0.9 percentage point from 17.71 percent in May 2022. This is the highest level since January of last year. This was stated by the National Bureau of Statistics (NBS) in its consumer price index (CPI) report for June 2022, which was released on Friday. Dr. Muda Yusuf, the founder/CEO of the Centre for the Promotion of Private Enterprise (CPPE), said that one of the major drivers of inflation in the country is high energy costs, and that the government should suspend all forms of taxes and levies on the importation of petroleum products as soon as possible to provide relief from the country’s spiking energy costs. The NBS figure for June this year is also 0.84 percentage point higher than the figure for June 2021, which is 17.75 percent. Increases were recorded in all classifications of individual consumption according to purpose (COICOP) divisions that yielded the headline index, according to the report. “The headline inflation rate increased to 1.82 percent in June 2022, which is 0.03 percent higher than the rate recorded in May 2022 (1.78 percent),” according to the report. “The percentage change in the average composite CPI for the 12 months ending June 2022 over the previous 12 months period is 16.54 percent, representing a 0.62 percent increase compared to the 15.93 percent recorded in June 2021.” According to the report, food inflation increased to 20.60 percent year on year in June 2022, but the rate of change in average price level decreased by 1.23 percent when compared to 21.83 percent in June 2021. “This increase in the food index was caused by price increases in bread and cereals, non-food products, potatoes, yams, and other tubers, meat, fish, oil and fat, and wine,” it added. “The food sub-index increased by 0.03 percent month on month to 2.05 percent in June 2022, up from 2.01 percent in May 2022.” According to the report, Bauchi and Kogi states had the highest price movements. “In June 2022, Bauchi (21.99 percent), Kogi (21.37 percent), and Ebonyi (20.73 percent) had the highest year-on-year inflation rates, while Adamawa (16.14 percent), Sokoto (16.31 percent), and Jigawa (16.37 percent) had the slowest rise in headline year-on-year inflation,” it said. According to Yusuf, prices for the basket of goods consumed by the majority of households have risen by 30 to 100 percent in the last year. “The same can be said for businesses. “The spiraling inflation dynamics necessitate an immediate policy response at the highest levels of government,” he said, adding that the impact on citizens’ welfare is incalculable. “The excruciating and unbearable pressure of spiking inflation on household budgets.” “Purchasing power has been massively eroded, real incomes have been depressed, and the poverty incidence has therefore worsened,” he said. The impact on SMEs is concerning.” SOURCE:https://brandspurng.com/2022/07/18/nigerias-inflation-rate-has-risen-to-18-60-percent-causing-concern/
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| Politics › African Development Bank Ranks First On Global Aid Transparency Index by postbox(op): 10:27pm On Jul 13, 2022 |
Publish What You Fund, the global campaign for aid and development transparency, has named the African Development Bank the most transparent organization in the world. The Bank’s Sovereign Portfolio now ranks first out of 50 global development institutions in Publish What You Fund’s 2022 Aid Transparency Index, released today with a top score of 98.5. African Development Bank Group President, Dr. Akinwumi Adesina said: “I am elated to learn of this outstanding recognition from Publish What You Fund. It is a testament to the relentless efforts of the more than 2,000 personnel across our organization who work tirelessly to accelerate Africa’s progress. Maintaining razor-sharp focus, they consistently deliver top quality under the highest levels of scrutiny. I am incredibly proud of them. I commend Publish What You Fund for their important mission, combining robust research and technical expertise with targeted advocacy and engagement to make aid and development efforts more transparent and effective.” Senior Vice President Swazi Tshabalala said: “I am absolutely delighted with this score in an index that plays a key role in helping promote openness and greater transparency among international agencies. The Bank has worked hard over the years to improve the disclosure of its aid flows by providing consistent, high-quality, and easily accessible data. Our top ranking has significant human and financial resource implications, as this is the only way to conduct our development business.” The African Development Bank achieved the highest score in the Aid Transparency Index’s ten-year history and moved into the top spot from its fourth-place ranking in 2020. The Index is the only independent measure of aid transparency among the world’s major development agencies. The Bank has remained consistently in the ‘very good’ category since 2014. It has consistently demonstrated its commitment to increased transparency and its extraordinary progress over the past 10 years in providing high-quality information and becoming more transparent. Publish What You Fund’s ‘very good’ status is the highest of the five categories used to assess organizations’ transparency. The ranking is based on several criteria. They include finance and budgets, basic information data, organizational planning and performance. The African Development Bank’s non-sovereign portfolio was assessed for the first time and separately in the 2022 Index. The Bank is the second most transparent development finance institution dealing with non-sovereign operations. Its non-sovereign portfolio is ranked 12th among the 50 global development institutions under comparison. The past year has been complex and challenging for development transparency. To help fulfill development needs and ambitious global objectives such as the UN Sustainable Development Goals and the Bank’s High 5 operational priorities, more and better development finance than ever is required. This is especially so when large volumes of funding are being assigned to combat the Covid-19 pandemic. Publish What You Fund Chief Executive Gary Foster said: “We congratulate the African Development Bank’s sovereign portfolio for achieving 1st place in the 2022 Aid Transparency Index. For many years now, the AfDB has engaged to understand the demands of the Index, and they have then re-engineered their approach to disclosure, accordingly publishing more comprehensive, higher quality data. This has been made possible because the efforts of their technical staff are matched by commitment to aid transparency from the highest levels of the organization.” SOURCE:https://brandspurng.com/2022/07/13/african-development-bank-ranks-first-on-global-aid-transparency-index/
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| Business › ND Western To Make FID On 10,000bpd Refinery by postbox(op): 10:25am On Jul 12, 2022 |
An indigenous oil and gas company, ND Western Ltd, says it is getting ready to take the Final Investment Decision on its 10,000 barrels per day refinery in Uturogu, Delta State. The Managing Director, ND Western Ltd, Mr Eberechukwu Oji, made the disclosure while speaking with newsmen on the sidelines of the 2022 Nigeria Oil and Gas conference and exhibition on Wednesday in Abuja. Oji said the Front End Engineering Design for the project which was a Joint Venture with the Nigerian National Petroleum Corporation had been completed. “We’re getting ready for the FID. Now you have to understand that before you take FID on a project, a number of things needs to be ready,” he said. He said issues such as finance and off takers of the refined petroleum products must be addressed before the board approves the FID. On gas development in Nigeria, Oji called on the Federal Government to work with the private sector in transforming Nigeria into an industrialised country through its abundant natural gas resources. He said, “I think that we have the opportunity to do so with gas because gas have a lot of options around it and gas solves some of the problems that we spoke about in the panel. “So today, crude oil pipelines get tapped into and get disrupted but the gas pipelines are not being tapped into just because of the nature of gas. “It does make sense that the government should invest to take gas to all the industrial hubs in Nigeria. “The Ajaokuta-Kaduna-Kano pipeline is an excellent gas project to take gas to the north, but if you think about it, there’s already demand centres in the east for which the government needs to support putting gas pipelines toward that axis. “It is absolutely important that for Nigeria to industrialise. We have to utilise the resources we have which is gas and make it available to all the capital cities in the country.” SOURCE:https://brandspurng.com/2022/07/10/nd-western-to-make-fid-on-10000bpd-refinery/
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| Politics › 16 Firms Pre-qualified For Five NIPP’s Privatisation by postbox(op): 9:58am On Jul 12, 2022 |
A total of 16 companies are now pre-qualified for the privatisation of five National Integrated Power Projects across the country, the Federal Government announced on Thursday. It announced this at the Investor Pre-bid Conference for the privatisation of the five NIPP plants which include Geregu, Omotosho, Olorunsogo, Calabar and Benin-Ihovbor. The government disclosed this through its Bureau of Public Enterprises in a statement issued in Abuja by the Head, Public Communications, BPE, Ibeh Chidi. The Director-General, BPE, Alex Okoh, outlined the 16 pre-qualified bidders to include Mota-Engil Nig, Amperion Power, Sifax Energy, Pacific Energy Company Ltd and Globeleq Africa Limited. Others include Geoplex Drillteq Limited, Asfalizo Acquisition Ltd, Launderhill PJB, Lauderhill Tata, Unicorn Power Genco Ltd, Connaught Energy Services Ltd, ENL Consortium Ltd, Ardova Plc, Central Electric and Utilities Ltd, North South Power Consortium and Quantum Megawatt Consortium. Okoh said the power sector remained a viable investment in Nigeria given the low per-capital megawatts currently being recorded across the country. He said the interest shown by bidders and the opening up of the generation aspect of the power sector confirmed the vast opportunities that abound in the sector, adding that BPE and other relevant stakeholders were committed to making the sector sustainable. The BPE boss said the objectives of the pre-bid conference were to address possible questions from the prequalified bidders with regards to the transactions and provide clarity on some issues in the transaction documents as might be necessary. He said the forum also highlighted the potential in the Nigerian power sector and provided a platform for potential investors to understand the process for the privatisation of the NIPP plants as well as to enable them to prepare their bid documents. He was quoted as saying, “This event is a continuation of the Federal Government’s reform of the power sector with the aim of ensuring that assets within the sector are fully utilised and transformed into world-class facilities, through the injection of private sector capital and deployment of more efficient and technical capacity.” Okoh told the investors that litigations against some of the plants were baseless and frivolous as the bureau and the Niger Delta Power Holding Company were empowered by the bids’ provisions under NIPPs transaction to terminate bids that violated the ground rules. The statement stated that the event had critical stakeholders in the power sector including the National Electricity Regulatory Commission, Niger Delta Power Holding Company and Nigerian Bulk Trading Company in attendance. In April 2021, the National Council on Privatisation approved the adoption of a fast-track strategy for the privatisation of the five NIPP plants. The council also approved the engagement of CPCS Consortium as the technical adviser for the 100 per cent sale of the five power plants, in line with the policy of divesting government shares from thermal generating plants. Subsequently, the BPE advertised in the national dailies May 6, 2021, calling for Expressions of Interest from prospective investors for the sale of the five plants, with a submission deadline of June 30, 2021. At the expiration of the deadline for the submission of EOIs, 36 EOIs were duly submitted from the prospective investors and the closure for the receipt of the EOIs was witnessed by the representatives of the Department of State Security Services and the Anti-Corruption and Transparency/Servicom Unit of the Bureau. SOURCE:https://brandspurng.com/2022/07/10/16-firms-pre-qualified-for-five-nipps-privatisation/
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| Health › Med-direct Africa Launches E-pharmacy, Promises Reduced Prices Of Drugs In Nig. by postbox(op): 9:45am On Jul 12, 2022 |
Med-Direct Africa, a 21st Century retail pharmacy in Nigeria has positioned itself to redefine the health delivery landscape in Nigeria via the launch of its e-Pharmacy services as it commits to reducing the prices of quality drugs in Nigeria, while delivering with speed to the last mile nationwide. With the launch of this revolutionary platform, Nigerians, from all walks of life and irrespective of where they are based, can now access genuine and affordable medicines online with swift delivery to their location of preference. ‘‘Med-Direct Africa, with its lifestyle department, will pay quality attention to prescription drugs, including high value and life-saving drugs to make sure genuine patients are supplied to those who need it before they exhaust what they have, no matter where they reside. We shall also handle last mile deliveries for public spirited Nigerians and Donor Agencies, while Nigerians in the Diaspora can also take advantage of our reach to supply quality drugs cheaper than they can buy overseas for their relatives. ’We are dealing directly with manufacturers and distributors backed with the highest level of technologies and structured analytics to deliver without fail. We are prepared,’’ Mr. Ifeanyi Ogbolu, Head of Retail Operations, Med-Direct Africa disclosed. The surge of the use of the internet and online ordering, especially of medicines in Nigeria, has necessitated the need for the availability of digital platforms that would meet the pharmaceutical and drug needs of Nigerians. Consequently, Med-Direct Africa has taken a step in the right direction to fill the void by not just expanding access to quality and affordable medications online, but also by providing access to seasoned pharmacists and health care professionals for needy beneficiaries, thereby assuring an improvement in the quality of care experienced by Nigerians. The e-Pharmacy services are available via an online pharmaceutical platform which enables customers to purchase medicines, health supplements and nutraceuticals, among others, without the need to visit a physical pharmacy. It offers the following profound benefits such as speed of access to medications, privacy and confidentiality, time-saving access to quality pharmaceuticals and convenience for all categories of users, including busy individuals and the elderly who can access their medications from the comfort of their homes and without having to visit a physical pharmacy. In addition, prospective users in need of prescription products can use the live chat option to speak with a team of experienced pharmacists, while also enjoying the liberty of uploading their prescription via same channel. Once uploaded, Med-Direct Africa’s team of registered pharmacists would engage the subscriber via call or chat to ensure they get the best of pharmaceutical care. Equally important, Med-Direct Africa’s team have the professional right to withhold dispensing in the case of prescription or medication errors. ‘‘With our e-pharmacy platform, Nigerians can now get their favourite and genuine supplements, lifestyle products and prescription medications (when you upload your prescription) with a few clicks at a 10% discount and free delivery to every state in the country. ‘‘With this, we hope to reduce the cost burden of drugs for Nigerians as well as provide quick access to these medications. Our goal is simple. Every Nigerian deserves quality medicine and drug services at a favourable cost within the shortest possible time,’’ Ogbolu assured. SOURCE:https://brandspurng.com/2022/07/09/med-direct-africa-launches-e-pharmacy-promises-reduced-prices-of-drugs-in-nigeria/
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| Science/Technology › NASA’s CAPSTONE Satellite Has Gone Dark by postbox(op): 9:12pm On Jul 06, 2022 |
NASA has lost contact with CAPSTONE, a tiny satellite that left Earth’s orbit on July 4th. CAPSTONE is a cubesat weighing just 55 pounds, and it’s headed for the Moon as part of NASA’s plan to get humans back on the lunar surface for the first time in more than 50 years. The small satellite stopped communicating with engineers on July 4th shortly after deploying from an Electron rocket bus and exiting Earth’s orbit. A NASA spokesperson told Space.com that the team has solid trajectory information for CAPSTONE and handlers are attempting to re-establish contact with the cubesat. “If needed, the mission has enough fuel to delay the initial post-separation trajectory correction maneuver for several days,” the spokesperson told the site. CAPSTONE spent six days building up speed in-orbit on a Rocket Lab Electron booster and finally deployed yesterday, on a path to the Moon. The plan is for CAPSTONE to enter a near rectilinear halo orbit around the Moon on November 13th, serving as a test for NASA’s Artemis mission. With Artemis, NASA plans to install a space station called the Lunar Gateway in the Moon’s orbit, serving as a permanent floating base for lunar visitors, complete with living quarters and a laboratory. NASA plans to kick off its Artemis 1 mission between August 23rd and September 6th with the deployment of an unmanned Orion module, which will orbit the Moon and provide data about how the trip might affect the human body. After that, four astronauts will take off for the lunar satellite. Finally, some time after 2025, NASA plans to put humans on the Moon again. SOURCE:https://brandspurng.com/2022/07/06/nasas-capstone-satellite-has-gone-dark/
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| Politics › NSIA Enters Into $50m Carbon Reduction Deal With Netherland Firm, Vitol by postbox(op): 9:02pm On Jul 06, 2022 |
The Nigeria Sovereign Investment Authority has entered into an agreement with Vitol to establish a joint venture that will enable both firms invest in a range of high integrity, socially impactful, carbon avoidance and removals projects.SOURCE:https://brandspurng.com/2022/07/06/nsia-enters-into-50m-carbon-reduction-deal-with-netherland-firm-vitol/ 1 Like
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| Celebrities › Simi Named Latest Spotify EQUAL Africa Artist by postbox(op): 9:09pm On Jul 05, 2022 |
Global streaming giant, Spotify, announced today that Nigerian singer-songwriter Simi has been selected as Spotify EQUAL Africa music programme ambassador for July. This announcement follows the release of her latest album, ‘TBH (To Be Honest)’ which came out in June. Simi joins other Nigerian artists,Tiwa Savage, Ayra Starr, Asa, and FAVE to be part of EQUAL Africa, which aims to spotlight and amplify the voices of talented African female artists making waves in the music scene. She also becomes only the second African artist after Tiwa Savage to be named as an EQUAL Global and EQUAL Africa artist. The Nigerian musician, sound engineer and actress, Simi Bolatito Ogunleye, started her musical journey as a chorister in church. Starting her musical career as a gospel singer, Simi released her debut studio album ‘Ogaju’ in 2008 before switching genres to Afro-pop. She came onto the public’s radar in 2014 after the release of the single, ‘TIFF’, which was nominated for Best Alternative Song at The Headies in 2015. Her 2016 single, ‘Jamb Question’, was a massive hit, topping music charts for weeks. In 2020, Simi garnered even more buzz in the industry after she released her famous song, ‘Duduke’, which celebrated the birth of her daughter. ‘Duduke’ was one of the most played songs of the year in Nigeria, a further testament to Simi’s musical prowess. “Striving and thriving as a woman in a male dominated industry has taken years of practice to master,” says Simi. “You go from being scared of it, to being intimidated by it, to being brave enough for it and then finally, to conquering it. I’ve almost always had to do way more than my male peers to prove myself. But, because of my love for music, I have been relentless and proud to do this work. I certainly hope, with all my heart, that the women who continue to come after me find it easier to shine in the way they deserve.” Spotify welcomes Simi to the EQUAL programme which aims to foster gender equality and provide a platform to celebrate influential female artists. She joins a list of talented African women who are driving the culture and breaking through barriers in the music industry. “We are proud to welcome Simi to the EQUAL programme, and we’re so excited to see where her talent continues to take her from strength to strength,” says Spotify’s head of music for sub-Saharan Africa, Phiona Okumu. The EQUAL programme spans seven categories, which include the EQUAL Artists of the Month and the EQUAL local playlists. As the latest artist to join the EQUAL Africa and Global Music Programs, Simi will be featured on the EQUAL Africa and the EQUAL Global playlists. SOURCE:https://brandspurng.com/2022/07/05/simi-named-latest-spotify-equal-africa-artist/
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| Politics › LIRS Optimizes Payment Procedure On eTax For Taxpayers by postbox(op): 9:01pm On Jul 05, 2022 |
The Lagos State Internal Revenue Service (LIRS) is currently optimizing its payment procedures for utmost efficiency and taxpayers’ convenience. The Executive Chairman of the Lagos State Internal Revenue Service, Mr Ayodele Subair, in a statement issued on Sunday, said the Agency, as part of its digitalization process, is discontinuing all previously used bill references effective from August 1st, 2022. Consequently, according to the Chairman, only the Enterprise Tax Solutions (eTax), generated bill references will be acceptable for tax payments. The eTax platform, which went live in October 2019, was launched by LIRS to engender seamless tax operations and reduce compliance costs to taxpayers. Since its launch, eTax has improved the effectiveness of tax administration in Lagos State. Mr Subair added that the eTax was built as a one-stop shop for all tax transactions, and it is in the same spirit that the generation of bill references, required for all tax payments is now exclusive to the eTax platform. He reiterated that by the cutoff date of August 1st, 2022, eTax would become the only authorized channel to generate bill reference for tax payments and other tax-related transactions in Lagos State. To generate a bill reference on e-Tax, taxpayers can use the 5 easy steps below: Visit the website through the source. Input your Payer ID and password to log in Select revenue type, and upload schedule (For PAYE & Withholding Taxes) Generate a bill reference Make a payment on any of the multiple channels available, using the generated bill reference. SOURCE:https://brandspurng.com/2022/07/05/lirs-optimizes-payment-procedure-on-etax-for-taxpayers/
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| Business › Ecobank Named Best Trade Finance Bank In West Africa by postbox(op): 10:27pm On Jul 04, 2022 |
Ecobank the leading Pan-African Banking Group, has been named ‘Best Trade Finance Bank in West Africa’ at the prestigious Global Trade Review’s Leaders in Trade awards. The award comes as recognition of Ecobank’s solutions for domestic and regional supply chain financing across key trade corridors as well as the bank’s arranger roles and participation in key soft commodities campaign financing across West Africa, notably covering cotton, cacao, soya beans and cashew nuts. Ecobank’s offerings are supplemented by our state-of-the-art E-trade module under the Omni Plus platform. Our products are positioned to support both our Corporate and Investment Banking and SME customers in leveraging on the African Continental Free Trade Area’s opportunities and growing intra-African trade. The judges also recognized Ecobank’s Trade Services solutions, which led the bank to commend significant market share on Letters of Credit across the continent, leveraging on its Paris-based affiliate, Ecobank International, for confirmations, payments, and discounts. Souleymane Diagne, Group Head, Trade Finance, Ecobank, said: “As a Pan-African bank with the largest footprint across the continent, a major ambition of Ecobank is to be the preferred trade bank for SMEs and corporates across Africa. We are committed to enabling them to take advantage of the immense growth opportunities fostered by the game-changing African Continental Free Trade Area. This accolade from Global Trade Review provides welcome recognition of the impact we are making through our suite of trade products and solutions, which include Structured Trade and Commodity Finance, Trade Services and Supply Chain Finance. For our customers and partners in West Africa and throughout sub-Saharan Africa, we are resolved to continue delivering value through our trade and multi-currency payments solutions, leveraging on our African expertise and our network’s advantage.” Ecobank works closely with clients and leverages on partners within and outside Africa in reviewing key aspects of transactions dynamics, including settlement, financing, risk mitigation, credit enhancement, syndications and applicable regulations. In their decision to declare Ecobank as Best Trade Finance Bank in West Africa, Global Trade Review’s judges took account of Ecobank’s full suite of trade products, services, impact and performance across Structured Trade and Commodities Finance, Supply Chain Financing and digital trade channels, in each of the 15 West African countries in which Ecobank operates. The award announcement was made at Global Trade Review’s annual awards ceremony held in London last month. SOURCE:https://brandspurng.com/2022/07/02/ecobank-named-best-trade-finance-bank-in-west-africa/
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| Politics › Victoria Kwakwa Appointed World Bank Vice President For Eastern And S. African by postbox(op): 10:19pm On Jul 04, 2022 |
The World Bank has appointed Victoria Kwakwa as the new World Bank Vice President for Eastern and Southern Africa, effective today. Kwakwa, an economist and development expert with over 30 years of experience, will lead an active regional program including a financing portfolio of over 300 projects totaling more than $50 billion and extensive policy research and advice. Under Kwakwa’s leadership, the World Bank will continue to provide vital support to countries as they face a series of complex, multifaceted challenges including the fall-out from the COVID-19 crisis, increasing climate shocks, food- and energy-fueled inflation, and rising debt levels. She will focus on support to economic recovery and transformation, private sector job creation, human capital development, climate resilience, agricultural productivity and food security, as well as access to critical infrastructure. The World Bank will also target efforts to reduce the drivers of fragility and conflict, improve gender equality and increase regional integration. Kwakwa brings a wealth of development experience to the position, having worked on countries in Africa, and East Asia. In her most recent role as the World Bank’s Vice President for Corporate Strategic Initiatives, she worked closely with the World Bank Managing Director of Operations to enhance the Bank’s operational efficiency and impact. She also served as the Vice President for East Asia Pacific from April 2016 to September 2021, where she led the Bank’s engagement with 23 diverse clients on a wide range of development issues. With a track record of putting people at the center of her work, Kwakwa is dedicated to bringing innovative approaches and financing to development to contribute to achieving a stable, integrated, and resilient region with dynamic economies and prosperous societies in which all citizens, notably women, children and youth enjoy equality of opportunity. Kwakwa succeeds Hafez Ghanem, who retired from the World Bank on June 30, 2022. SOURCE:https://brandspurng.com/2022/07/03/victoria-kwakwa-appointed-world-bank-vice-president-for-eastern-and-southern-africa/
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| Celebrities › Obi Cubana Unveils Don Jazzy As Face Of New Age Mobile by postbox(op): 10:09pm On Jul 04, 2022 |
Chief Obinna Iyiegbu, popularly known as Obi Cubana, a co-partner in New Age Mobile Concepts Limited, dealer of global power bank and mobile phone accessories and electronic devices, has relaunched the brand, with the unveiling of Nigerian music artist and producer, Don Jazzy, as the brand ambassador. In a ceremony attended by several people, including celebrated artists, actors and actresses in Lekki, Lagos, recently, the CEO, New Age Mobile Concepts Ltd, Obi Cubana said the company decided to relaunch the brand because of what it represents in the Information and Communications Technology (ICT) sector to satisfy the growing needs of Nigerian consumers with quality products and accessories. According to him, “The New Age Power Bank is manufactured by New Age Mobile Concepts Ltd, the makers of New Age phone charger and other phone accessories.Currently, New Age Concepts Ltd is among top leading mobile accessories merchandising companies in Nigeria, offering high quality mobile accessories.’’ The businessman and entertainment guru said his company chose Don Jazzy as its brand ambassador because of what he represents in the music industry, his great followers and his fame. This is coming few days after he launched a multi-billion-naira Golf City Estate in Abuja. Speaking during the unveiling, Cubana said his business partnership with New Age Mobile is born out of his genuine and legitimate business around the world. Obi Cubana Unveils Don Jazzy As Face Of New Age Mobile “If you ever contemplate buying a power bank that is strong, well-matched with most mobile devices and possesses an inbuilt microcomputer automatic protection chip against overcharge or over voltage, then you can’t go wrong with New Age Power Bank. Read Also: TECNO Is Going Premium With PHANTOM X, And 2021 Marks Its New Focus ‘’As you have rightly known, smartphones consume lots of battery power because they have lots of applications as well as inbuilt processors for fast operations. In order to ensure top-notch quality, New Age battery-powered devices are manufactured to be versatile, so it can work with any model and brand of phone and smart device,” Cubana said. The Brand and Marketing Manager, New Age Mobile Concepts Limited, Mrs. Ijeoma Rhema Eze, said in 2004, the New Age brand was created and in 2008, New Age Mobile Concept Limited was incorporated and the first indigenous charger from New Age Mobile was launched that same year. “In 2014, the first indigenous power bank from New Age Mobile Concepts was launched. In 2021, we launched other devices and mobile accessories. In 2022, we launched new sets of power bank that can charge various devices. Our products, which include ear phones are durable, portable and first of its kind in Nigeria,” Eze said. According to her, the power bank can charge a smartphone up to 10 times from 0-100 per cent full and can be relied upon. The New Age Power Bank comes with different sizes, which include, New Age Pack 22500mah, 18500mah, 15600mah, 15000mah, 12500mAh and many others. SOURCE:https://brandspurng.com/2022/07/04/obi-cubana-unveils-don-jazzy-as-face-of-new-age-mobile/ 2 Likes
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| Politics › African Development Fund Approves $2 Million Technical Grant To Boost Electric by postbox(op): 10:07pm On Jun 29, 2022 |
The Board of Directors of the African Development Fund on 24 June approved a technical assistance grant of $2 million to fund research that will contribute to electricity reforms in the Economic Community of West African States (ECOWAS). The grant from the African Development Fund — the concessional window of the African Development Bank Group — will go to the ECOWAS Regional Electricity Regulatory Authority. The ultimate objective is to stimulate cross-border electricity trade and improve energy access in the 15 countries in the region. The project has five components. The first involves selecting electricity regulatory principles and key performance indicators from the African Development Bank’s flagship Electricity Regulatory Index for Africa report, to be adopted by the ECOWAS Regional Electricity Regulatory Authority. As part of this component, the project will build capacity in member countries for collecting and reporting on these indicators on a common platform. The second component will involve conducting a study in order to update a comparative analysis of electricity tariffs and their underlying drivers across the electricity value chain of ECOWAS. The third involves developing a centralized database management system that will provide a platform for digitally collecting relevant energy information from member countries, storing, and disseminating them on a common digital platform. The fourth component will assess and identify project bottlenecks and risks in ECOWAS member countries and recommend a coherent approach to progressively address ground-level barriers to investment in the power sector in pre- and post-establishment phases of the regional electricity market. The final component focuses on program management and capacity building, which will be co-financed with the Regional Electricity Regulatory Authority. All components of the project will include gender-disaggregated data. “Ultimately, this project will facilitate regional electricity trade and help improve access to electricity,” said Solomon Sarpong, project team leader at the African Development Bank. “It will address major causes of fragility, such as infrastructure bottlenecks, youth unemployment, environmental challenges, gender inequalities, and regional development imbalances.” Established on 28 May 1975 via the Treaty of Lagos, ECOWAS is a regional organization that promotes economic integration in the constituting countries. ECOWAS consists of 15 countries, including Benin, Burkina Faso, Cabo Verde, Côte d’Ivoire, Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone, and Togo. Covering about 6.1 million km2, ECOWAS has an estimated population of 360 million people. SOURCE:https://brandspurng.com/2022/06/29/african-development-fund-approves-2-million-technical-grant-to-boost-electricity-reforms/ 1 Like
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| Health › AfDB Board Approves Foundation To Transform Africa’s Pharmaceutical Industry by postbox(op): 10:25pm On Jun 28, 2022 |
The African Development Bank’s Board of Directors has approved the establishment of the African Pharmaceutical Technology Foundation, a new groundbreaking institution that will significantly enhance Africa’s access to the technologies that underpin the manufacture of medicines, vaccines, and other pharmaceutical products. African Development Bank Group President, Dr. Akinwumi Adesina said: “This is a great development for Africa. Africa must have a health defense system, which must include three major areas: revamping Africa’s pharmaceutical industry, building Africa’s vaccine manufacturing capacity, and building Africa’s quality healthcare infrastructure.” During the African Union Summit in Addis Ababa in February 2022, the continent’s leaders called on the African Development Bank to facilitate the establishment of the African Pharmaceutical Technology Foundation. Adesina, who presented the case for the institution to the African Union said: “Africa can no longer outsource the healthcare security of its 1.3 billion citizens to the benevolence of others.” With this bold initiative, the African Development Bank has made good on that commitment. The decision is a major boost to the health prospects of a continent that has been battered for decades by the burden of several diseases and pandemics such as Covid19, but with very limited capacity to produce its own medicines and vaccines. Africa imports more than 70% of all the medicines it needs, gulping $14 billion per year. Global efforts to rapidly expand the manufacturing of essential pharmaceutical products including vaccines in developing countries, particularly in Africa, to assure greater access, have been hampered by intellectual property rights protection and patents on technologies, know-how, manufacturing processes and trade secrets. African pharmaceutical companies do not have the scouting and negotiation capacity, and bandwidth to engage with global pharmaceutical companies. They have been marginalized and left behind in complex global pharmaceutical innovations. Recently, 35 companies signed a license with America’s Merck to produce Nirmatrelvir, a Covid-19 drug. None of them was African. No institution exists on the ground in Africa to support the practical implementation of Trade Related Intellectual Property Rights (TRIPs) on non-exclusive or exclusive licensing of proprietary technologies, know-how and processes. The African Pharmaceutical Technology Foundation will fill this important and glaring gap. When fully established, it will be staffed with world-class experts on pharmaceutical innovation and development, intellectual property rights, and health policy; acting as a transparent intermediator advancing and brokering the interests of the African pharmaceutical sector with global and other Southern pharmaceutical companies to share IP-protected technologies, know-how and patented processes. The African Pharmaceutical Technology Foundation will prioritize technologies, products and processes focused primarily on diseases that are widely prevalent in Africa, including current and future pandemics. It will also build human and professional skills, the research and development ecosystem, and support upgrading of manufacturing plant capacities and regulatory quality to meet World Health Organization standards. While the African Pharmaceutical Technology Foundation is being established under the auspices of the African Development Bank, it will operate independently and raise funds from various stakeholders including governments, development finance institutions, philanthropic organizations among others. The Foundation will boost the African Development Bank’s commitment to spend at least $3 billion over the next 10 years to support the pharmaceutical and vaccine manufacturing sector under its Vision 2030 Pharmaceutical Action Plan. The Foundation’s areas of work will also be an asset to all other current investments into pharmaceutical production in Africa. Rwanda will host the African Pharmaceutical Technology Foundation. A common benefits entity, the Foundation will have its own governance and operational structures. It will promote and broker alliances between foreign and African pharmaceutical companies. The African Pharmaceutical Technology Foundation will strengthen local pharmaceutical companies to engage in local production initiatives with systematic technology learning and technology upgrading at the plant level. The Foundation will work with African governments, research and development centers of excellence to strengthen the regional pharmaceutical and vaccine innovation ecosystem for Africa and build skills of the kind needed for the pharmaceutical sector to flourish. It will also promote closer coordination of the various ongoing medicines and vaccines’ manufacturing initiatives at the regional level to increase collaborative linkages, leverage synergies and partnerships in a pan-African context. The African Pharmaceutical Technology Foundation will work closely with the African Union Commission, European Union Commission, the World Health Organization, the Medicines Patent Pool, the World Trade Organization, philanthropic organizations, bilateral and multilateral agencies and institutions, and will foster collaboration between the public and private sectors in developed countries and developing countries. SOURCE:https://brandspurng.com/2022/06/28/afdb-board-approves-foundation-to-transform-africas-pharmaceutical-industry/
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| Business › Savannah Energy Commences First Gas Sales To The Central Horizon Gas Company by postbox(op): 10:08pm On Jun 28, 2022 |
Savannah Energy PLC, the British independent energy company focused around the delivery of Projects that Matter in Africa, is pleased to announce that Accugas Limited (“Accugas”), the Company’s 80% indirectly owned subsidiary, has commenced gas sales to Central Horizon Gas Company Limited (“CHGC”), a subsidiary of Axxela Limited (“Axxela”), and a major gas distribution company situated in the South-South region of Nigeria. As previously announced in February 2022, Savannah signed an interruptible gas sales agreement (“GSA”) with CHGC to supply up to 5 MMscfpd daily for an initial one-year period. CHGC operates a 17km gas pipeline infrastructure network with a throughput capacity of 50 MMscfpd, which provides natural gas to industrial and commercial customers in the Trans Amadi Industrial Area of Port Harcourt as well as the Greater Port Harcourt Area, Nigeria. CHGC is majority owned and controlled by Axxela, which delivers natural gas to over 185 industrial and commercial customers via its gas infrastructure network across cities in Nigeria including Lagos and Port Harcourt. Andrew Knott, CEO of Savannah Energy, said:“We are very pleased to have operationalised our gas sales agreement with CHGC, our third new customer facility we have connected with this year. The rapid progress we have made to diversify and increase Accugas’ customer base since acquiring the business has been significant. I would like to thank and commend the Accugas and CHGC/Axxela teams for having worked together so well to achieve the first gas sales milestone so quickly after GSA signature.” Commenting on behalf of Axxela, Chief Executive Officer, Bolaji Osunsanya, said: “This interruptible gas sales agreement reinforces our continued commitment to be the energy partner of choice to our customers. We believe that with this partnership, CHGC can further provide flexibility and supply assurance to our growing customer base within the Greater Port Harcourt area and its environs”. SOURCE:https://brandspurng.com/2022/06/27/savannah-energy-commences-first-gas-sales-to-the-central-horizon-gas-company-ltd/
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| Literature › Publiseer Gets Accepted Into Accelerator In New York by postbox(op): 9:51pm On Jun 27, 2022 |
Africa’s digital content distribution company, Publiseer, has been accepted into the Starta Accelerator Batch 13 Spring 202 program in New York, a soft landing program designed to help international startups scale their US market presence and raise capital. Africa’s digital content distribution company, Publiseer, has been accepted into the Starta Accelerator Batch 13 Spring 202 program in New York, a soft landing program designed to help international startups scale their US market presence and raise capital. In an official email to the company, Starta Accelerator wrote, “We are very impressed with your company and team. We are excited about the opportunity to join as an investor and help you build the company’s future.” Publiseer is a digital platform that helps independent and underserved African writers, musicians, filmmakers, and video game developers, typically those from low-income and disadvantaged communities, to earn above the minimum wage and live above the poverty line from the sales of their creative works. Publiseer achieves this by helping them distribute, protect, promote and monetize their creative works worldwide, at no charge, with just a single click. The digital platform shares in the revenue it generates for these creators, which in turn goes back into helping more creators in Africa. So far, Publiseer has helped over 7,000 African creators from Nigeria, Ghana, Kenya, South Africa, Egypt, Côte d’Ivoire, Senegal, and Togo earn a living as full-time professionals. SOURCE:https://brandspurng.com/2022/06/26/publiseer-gets-accepted-into-accelerator-in-new-york/
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| Jobs/Vacancies › Leo Stan Ekeh Foundation Targets 10,000 Jobs In Imo State by postbox(op): 7:42am On Jun 25, 2022 |
The Leo Stan Ekeh Foundation (LSEF), a futuristic Non-Governmental Organization (NGO) which focuses on promotion of 21st century knowledge through quality education, practical entrepreneurship, healthy living and enhanced lifestyle, is set to flag off a project to create over 10,000 employment opportunities for residents of Imo State, while also equipping entrepreneurs and other beneficiaries with useful knowledge and interest free loans to grow their businesses and improve their global competitiveness. As part of the initiative, globally renowned tech companies like Microsoft, Meta (FaceBook), among others, are expected to certify the participating graduates who complete the programme. Tagged the Imo Wealth Project, the humanitarian scheme is open to entrepreneurs, unemployed and underemployed graduates, as well as students in tertiary institutions across Imo State in their final year of studies. The aim of the project is to create quality opportunities for the youths to reduce tension in each geo-political region in Nigeria, starting with Imo State in the South East. The programme kicks off with a three-day mandatory on-boarding training programme scheduled to run daily from Tuesday, June 28 to Thursday, June 30, 2022 at the Imo State University Auditorium, Owerri, Imo State from which successful candidates would be selected. The programme kicks off by 9am each day, while accreditation of attendees holds from 8am. Chairman, Zinox Group, Leo Stan Ekeh, will personally open the conference each day with a 15 minutes’ inspirational session. The training sessions will witness masterclasses from a carefully selected faculty of world class resource persons. Among other things, participants would be exposed to mentorship sessions, a finishing school class, knowledge empowerment and business success sessions. Outstanding entrepreneurs who make the final cut stand a chance to gain access to interest-free loans to grow their business, while others will be exposed to employment opportunities in their areas of competencies. Thousands of prospective candidates are expected to take part in the training sessions for the Imo Wealth Project which commences next week at the Imo State University Auditorium. Notably, LSEF is partnering with several tertiary institutions, including the Imo State University, Federal Polytechnic, Nekede; Alvan Ikoku Federal College of Education, Imo State University of Agriculture and Federal University of Technology, Owerri to train and certify qualified Imo graduates. The foundation has commenced equipping these institutions with best-in-class digital tools, starting with the Imo State University and plans to do same in a state in each geo-political region in Nigeria, if the Imo project is a success. SOURCE:https://brandspurng.com/2022/06/24/leo-stan-ekeh-foundation-targets-10000-jobs-in-imo-state/
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| Business › Savannah Energy’s Accugas Begins First Gas Sales To FIPLs Trans Amadi by postbox(op): 8:18pm On Jun 23, 2022 |
Savannah Energy PLC, the British independent energy company focused around the delivery of Projects that Matter in Africa, is pleased to announce that Accugas Limited (“Accugas”), the Company’s 80% indirectly owned subsidiary, has commenced gas sales to First Independent Power Limited’s (“FIPL”) Trans Amadi power plant in Port-Harcourt, Nigeria. As previously announced in April 2022, Savannah executed an addendum to its gas sales agreement with FIPL, allowing FIPL to increase the quantity of gas purchased to up to 65 MMscfpd (from 35 MMscfpd) to allow supply to both its Trans Amadi and Eleme power plants (as well as its Afam power plant). FIPL is an affiliate company of the Sahara Group, a leading international energy and infrastructure conglomerate with operations in over 42 countries across Africa, the Middle East, Europe and Asia. The FIPL Trans Amadi power plant has a power generation capacity of 136 MW but its generation capacity had recently been limited due to gas availability issues from its primary supplier. Savannah commenced gas supply to the Trans Amadi power plant on 19 June 2022, which has allowed for the immediate resumption of power generation and evacuation to Nigeria’s National Grid. Andrew Knott, CEO of Savannah Energy, said: “I am very pleased to have commenced gas sales to the Trans Amadi power station. I am proud of the key role we are increasingly playing in providing power to Nigeria at this time. I would like to thank our partners at Sahara for continuing to choose to work with us and look forward to exploring further opportunities with them in the future.” Kola Adesina, Group Managing Director, Sahara Power Group, said: “We are pleased to have achieved operationalisation of gas supply to our Trans Amadi Plant sooner than anticipated and thank Savannah for their continued support in ensuring that FIPL remains committed to efficient power generation in Nigeria”. SOURCE:https://brandspurng.com/2022/06/22/savannah-energys-accugas-begins-first-gas-sales-to-fipls-trans-amadi-power-plant/
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| Properties › Adron Homes Gift 10 Best Staff Dubai Vacation, 2 Bedroom Bungalow Prize by postbox(op): 7:58am On Jun 22, 2022 |
Days after giving back over 60,000 liters of fuel to about 3,000 Nigerians to appreciate all the host communities where its businesses are situated all over the country and in commemoration of its 10th anniversary, Adron Homes and Properties has once again showered gifts on its workforce. The Pan – African real estate company, as part of activities marking its decade of creating affordable housing for Nigerians, Adron Homes has decorated and gifted its staff with various appreciation, rewards, and awards of recognition at a dinner held yesterday. Over the last six months, activities in the company have been geared towards the maiden day to choose the best directorates and staff of the company who had been diligent in carrying out their deliverables within the workforce, hence giving the company a good reputation and desired result in many areas of evaluation. The directorate’s weekly challenge was introduced to give every staff and directorate an equal opportunity to participate in various strategic thinking, innovations, and delivery to help the company plan well for another 10 years’ goals. Different strategies, contributions, and innovations were drawn from various directorates and winners were picked for the maiden day celebration and appreciation of the staff after diligently participating in the challenge for over 16 weeks. The event was laced with a carnival, fashion, and style. It drew out many celebrities from the entertainment industry with varying performances to light up the night. Faces, glitz, and glamour were the order of the night as popular music sensation Abolore Adegbola known as 9ice thrilled the teeming staff of the company to his very best amongst his mates from the industry such as; Seriki, Woli Agba, Jigan, Saheed Balogun, MC Odogwu, veteran actor Ekpeyong Bassey and lots more graced the Award night and added glamour to its already colourful ambient. Climax of the event was a Dubai first-class summer vacation gift to the 10 best staff which is going to last for 5days and a 2-bedroom luxurious apartment gift to the Director of the winning directorate with N28,500,000 market value as appreciation while other consolation prizes were given to many others. The company’s group Managing Director, Aare Adetola EmmanuelKing, accompanied by his wife, who serves as the Executive Director (finance) of the real – estate giant, Yeye Aderonke EmmanuelKing, were presented innovation award of the year and corporate governance award by the staff to appreciate the couple’s magnanimity and benevolence to the workforce amid hard work and opportunities the duo had put into the real estate sector in the country. The GMD while expressing his gratitude to the staff for their support and steadfast over a decade of the company’s establishment said “all these giant strides, innovations, and pacesetting venture achieved by the company wouldn’t have become a reality without the support and diligent hard work of the staff, so for these, I dedicate this award you all gave me and wife back to you as a way of appreciating all of your good deeds.” He then presented a prize cheque of N10,000,000 to the winning directorate of the company and made clear the company’s continuous appreciation and recognition of diligent staff as it embarks on another decade’s journey. SOURCE:https://brandspurng.com/2022/06/22/adron-homes-gift-10-best-staff-dubai-vacation-2-bedroom-bungalow-prize/
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| Business › FMDQ Exchange Approves Registration Of Lekki Gardens Estate ₦25.00bn by postbox(op): 7:16pm On Jun 21, 2022 |
FMDQ Securities Exchange Limited (“FMDQ Exchange” or the “Exchange”) continues to propel businesses, corporates, and government entities to achieve their strategic objectives and ensure prosperity within the Nigerian financial markets and wider economy. As the leading organiser for the Nigerian debt capital market (DCM) and in its role as a catalyst for infrastructure development, FMDQ Exchange through its Board Listings and Markets Committee, has approved the registration of the Lekki Gardens Estate Limited ₦25.00 billion Commercial Paper (CP) Programme on its platform. Lekki Gardens Estate Limited (“Lekki Gardens” or the “Issuer”) is a leading independent luxury real estate company in Nigeria that provides innovative real estate solutions in the areas of property development, facility management and sales of real estate products and services with special skills in service delivery. The CP Programme, which is sponsored by Boston Advisory Limited – a Registration Member (Quotations) of the Exchange, positions the Issuer to raise short-term finance from the Nigerian debt capital market (DCM), through CP issues within its CP Programme limit. Speaking on the successful CP Programme registration, the Managing Director/Chief Executive Officer, Lekki Gardens Estate Limited, Mr. Richard Nyong said, “Lekki Gardens is pleased to announce the registration of her ₦25.00 billion CP programme. As a leading player in the real estate sector, we appreciate how critical sustained access to steady sources of funding is to real estate development. The approval of this CP programme by the FMDQ Exchange represents a significant milestone in our near-term growth aspirations and further enhances our capacity to unlock value for all our stakeholders”. According to the Executive Director, Business Support & Corporate Services, Lekki Gardens Estate Limited, Ms. Emily Atebe, “Lekki Gardens remains strongly committed to enabling the greatest number of people make the most value of their property and property related investments as we contribute our quota to closing the critical gap in home ownership and development. This issuance is in line with our strategy to diversify our financing options as we continue to deliver on our commitment while efficiently managing our cost of funds”. Equally, the Managing Director/Chief Executive Officer, Boston Advisory Limited, Mr. Rotimi Balogun mentioned that “real estate companies represent one of the most attractive investment options and should leverage the debt capital market for effective pricing, good stability, growth capital and enhanced capital structure. I am therefore pleased to announce the registration of the ₦25.00 billion Commercial Paper Programme Issuance for a premium real estate company, Lekki Gardens Estate Limited, in our capacity as Sponsor, Arranger, Dealer and IPA. For my team and I, this registration is a success from all standpoints. And we believe that the groundbreaking transaction in the real estate space will further assist Lekki Gardens in its drive to be the leading real estate development and management company in Africa’s largest market”. The Senior Vice-President, Investment Banking, Boston Advisory Limited, Mr. Adekunle Alade also commented that “we are very delighted on the approval of the ₦25.00 billion Commercial Paper Issuance Programme for Lekki Gardens Estate Limited. The registration of this CP Programme strategically positions Lekki Gardens Estate Limited to access short term funding at a lower rate from the debt capital market and quickly complete its various on-going housing projects”. As the Nigerian DCM continues to witness significant activity with diverse corporate institutions tapping the market as an efficient alternative to meeting their funding and liquidity requirements, FMDQ Exchange will continue to provide timely and cost-efficient services to support its stakeholders, particularly issuers and investors, towards accessing capital, managing risks and invariably, improving their corporate profile. FMDQ Group is Africa’s first vertically integrated financial market infrastructure (FMI) group, strategically positioned to provide registration, listing, quotation and noting services; integrated trading, clearing & central counterparty, settlement, and risk management for financial market transactions; depository of securities, as well as data and information services, across the debt capital, foreign exchange, derivatives and equity markets, through its wholly owned subsidiaries – FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited. As a sustainability-focused FMI group, FMDQ Group, through FMDQ Exchange, operates Africa’s premier Green Exchange – FMDQ Green Exchange – positioned to lead the transition towards a sustainable future. SOURCE:https://brandspurng.com/2022/06/21/fmdq-exchange-approves-registration-of-lekki-gardens-estate-%e2%82%a625-00bn-cp-programme/
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| Travel › FAAN Woos Investors To 12,000 Hectares Aviation City by postbox(op): 9:05pm On Jun 20, 2022 |
The Federal Airports Authority of Nigeria (FAAN) is wooing investors to its proposed aviation city in Abuja, which will sit on an estimated 12,000 hectares of land around the Nnamdi Azikiwe International Airport, Abuja. Some of the investment opportunities that exist in the aviation city include maintenance, repair and overhaul (MRO), hotels, aerotropolis, shopping malls and other facilities to be located within the city. Mr Sadiku Rafindadi, the Director, Commercial and Business Development of FAAN who spoke about the investment opportunities at the ongoing FAAN National Aviation Conference in Abuja, said FAAN is ready for business and it is willing to engage investors with bankable projects on how they can invest in the opportunities FAAN is offering. “The investment opportunities that we have in FAAN are enormous, especially in terms of land. We have land for MROs, for hotels, land for warehousing and even farming, as long as the farming does not attract birds that would cause airplanes to have accidents,” Mr Rafindadi said. He said the new investment drive is to maximise the potential in the Nigerian aviation industry and make the 43 airports and airstrips profitable. He said Nigeria’s passenger traffic is growing. “In 2020, the domestic and international passenger traffic stood at 9,358,186 as against 15,886,955 in 2021, representing a difference of 41%. “Analysts have forecasted that Nigeria’s passenger traffic will exceed that of the global aviation sector, as such, aviation remains pivotal to the socio-economic growth of Nigeria. “Nigeria’s passenger traffic is expected to grow at 7% over the next 10 years, while the global industry remains at 5.3%,” he noted. He noted that “a recent aviation sector study for Nigeria by the International Air Transportation Association (lIATA) in June 2020 showcased the significant contribution of aviation to the national economy, by providing 241,000 jobs, directly and indirectly, supported through the aviation sector’s supply chain to the tune of $1.7 billion to the national economy.” He said FAAN’s key initiative in promoting investment at the airports is partnering with the state governments and private sector to focus on safety and security, infrastructural development, growing domestic airlines through new route development and the designation of airports for improved performance and revenue creation. SOURCE:https://brandspurng.com/2022/06/20/faan-woos-investors-to-12000-hectares-aviation-city/
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| Business › N217.22 Billion Is Invested In The Manufacturing Sector by postbox(op): 1:14am On Jun 20, 2022 |
Total manufacturing investment in Nigeria reached N217.22 billion in 2021, up from N118.52 billion in 2020. It is being propelled by the gradual recovery of economic activity following the relaxation of economic and social restrictions imposed to contain COVID-19. According to the Manufacturers Association of Nigeria (MANSecond )’s Half Economic Review 2021 (July-December 2021), investment in the manufacturing sector increased to N73.18 billion in the second half of 2021, up from N56.44 billion in the corresponding half of 2020. This represented a N16.74 billion or 29.7% increase over the review period. Investment in the sector, on the other hand, increased by N70.96 billion, or 49.3 percent, compared to N144.14 billion in the previous half. According to a document made available to The Nation by MAN, significant investment has been recorded in the Pulp, Paper, Printing & Publishing (6Ps) sector with the establishment of five new paper mills that recycle waste papers to produce cartons. The Association also mentioned the new BUA Group cement factory in Sokoto, as well as the new African Glass Limited factory, which manufactures glass products. A cross-sector analysis also revealed that investment in the sector increased in most of the sectoral groups during the review period compared to the halves of 2020. For example, investment in the Food, Beverage, and Tobacco sector increased to N52.02 billion in the second half of 2021, up from N10.10 billion in the first half. However, investment fell by N13.55 billion, or 20.7 percent, compared to N65.57 billion in the previous half. In 2021, investment in the sector totaled N305.02 billion, up from N28.87 billion in 2020. Investment in 6Ps increased to N4.15 billion in the second half of 20201 from N1.23 billion in the first half of 2020, representing a N2.92 billion increase over the period. SOURCE:https://brandspurng.com/2022/06/18/n217-22-billion-is-invested-in-the-manufacturing-sector/
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| Politics › CBN, Banks, And NPA To Resolve Export Bottlenecks In 90 Days by postbox(op): 12:39am On Jun 20, 2022 |
The Central Bank of Nigeria (CBN), working with the Bankers’ Committee, the Nigeria Ports Authority (NPA), and other non-oil export stakeholders, has unanimously agreed to find long-term solutions to export bottlenecks within 90 days.https://brandspurng.com/2022/06/19/cbn-banks-and-npa-to-resolve-export-bottlenecks-in-90-days/ 2 Likes
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| Business › Nigeria’s Inflation Rate Hits 17.71% In May by postbox(op): 6:20pm On Jun 16, 2022 |
The Consumer Price Index (CPI), which measures inflation slowed to 17.71 per cent in May 2022, representing 0.22 percentage points decline compared to 17.93 per cent in May 2021, the National Bureau of Statistics (NBS) said Wednesday. “This means that the headline inflation rate slowed down in the month of May when compared to the same month in the previous year,” the statistical agency noted. Month-on-month, however, the headline index increased to 1.78 per cent in May, representing 0.02 per cent increase from the 1.76 per cent recorded in April. The percentage change in the average composite CPI for the 12-month period ending May 2022 over the average of the CPI for the previous 12- month period was 16.45 per cent, showing a 0.95 per cent increase compare to the 15.50 per cent recorded in May 2021. According to the CPI Report for May, obtained from the NBS website, the composite food index rose to 19.50 per cent in May 2022 on a year-on-year basis, declining by 2.78 per cent compared to 22.28 per cent in May 2021. This rise in the food index was caused by increases in prices of bread and cereals, food products n.e.c, potatoes, yam, fish, meat, and oils. On a month-on-month basis, the food sub-index increased to 2.01per cent in May, up by 0.01 percentage points from 2.00 per cent recorded in April. The average annual rate of change of the Food sub-index for the 12-month period ending May 2022 over the previous 12-month average is 18.68 per cent or 0.05 percentage points decline from the average annual rate of 19.18 per cent change recorded in May 2021. On the other hand, the “All Items Less Farm Produce’’ or Core inflation, which excludes the prices of volatile agricultural produce rose to 14.90 per cent in May 2022 on a year-on-year basis, up by 1.75 per cent when compared to 13.15 per cent recorded in May 2021. Month-on-month, the core sub-index increased to 1.87 per cent in May 2022, up by 0.65 per cent when compared to 1.22 per cent recorded in April. According to the statistical agency, the highest increases were recorded in prices of gas, liquid fuel, garment, Solid fuel, cleaning, repair and hire of clothing and passenger transport by road. SOURCE:https://brandspurng.com/2022/06/16/nigerias-inflation-rate-hits-17-71-in-may/
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