₦airaland Forum

Portland Paints and Products Nigeria PLC (Portland Paints) has announced the approval of the scheme of merger between Portland Paints and Chemical and Allied Products Plc (CAP) at the respective court-ordered meetings of Portland Paints and CAP held on February 18, 2021, the Federal High Court of Nigeria, on June 29, 2021, granted an order sanctioning the Merger. The Merger will become effective on Thursday, July 1, 2021.
Consequently, CAP and Portland Paints will from the Effective Date, legally operate as one entity, CAP (being the surviving enlarged entity). Portland Paints will be dissolved without being wound up

The respective Boards of Portland Paints and CAP strongly believe that the Merger, which provides a unique opportunity to change the Nigerian paints and coatings landscape, is value accretive to shareholders of both companies; and will drive growth and expansion within the Nigerian and African markets.

Subject to the approval of the Exchange, the shares of Portland Paints will be placed on full suspension with effect from the close of business on June 30, 2021, is the business day immediately preceding the Effective Date and the date on which the register of members of Portland Paints will be updated for the purpose of determining the shareholders eligible to receive the scheme consideration.

SOURCE:https://brandspurng.com/2021/06/30/federal-court-merger-portland-paints/

SBL initiative is part of a new Tshs 230 billion ($100 million) global Diageo programme to help outlets, and bars recover from COVID-19 and support jobs and communities around the world.
The fund will roll out over the next two years benefitting over 2,000 outlets; It will include practical equipment for outlets to implement new social distancing measures, digital skills training and contactless technology.

Serengeti Breweries Limited (SBL) today announced a programme worth over 2.3 billion TSH to support bars and eateries in Dar es Salaam and other major towns to protect their staff and customers against the Covid-19 pandemic.

SBL’s support comes to light as the world struggles to return to the business from the torment inflicted by the global pandemic (Covid-19). While everyone wants to transcend the journey from failure to triumph, which as a notion, provides food for thought, SBL has identified conditions critical against all communicable diseases in the country, which include COVID-19.

According to the company’s Managing Director Mark Ocitti, this initiative by SB also complements the government’s efforts to call on people and businesses to practice good hygiene to prevent themselves from communicable diseases, COVID-19 included.



“In our initiative, we will support resilience, resolve and re-imagination to on-trade in Tanzania. The ultimate goal is to rise again, hence the name of our new project, Raise the Bar or Tunyanyuke Pamoja. The project will cover 2,000 outlets in the cities of Dar es Salaam, Arusha and Mwanza,” he said

The project will support on-trade through ‘Tunyanyuke Pamoja’ in several ways, from training the outlet owners and staff against communicable diseases to providing technical equipment to transforming their outlets, according to Ocitti.

This program by SBL is part of a global campaign by Diageo to enable bars to respond to the impact of COVID-19. Other significant cities worldwide benefit from the program: Nairobi, Kampala, New York, London, Edinburgh, Dublin, Belfast, Mexico City, Sao Paulo, Shanghai, Delhi, Mumbai, Bangalore, Sydney, and beyond.

The “Raise the Bar” program was designed following a survey of bar owners to identify key priorities to support the reopening of their business. Their top priorities included hygiene measures, digital support and valuable equipment to transform how their outlets will work when they reopen.

The “Raise the Bar” programme will provide targeted support to help pay for the physical equipment needed for outlets to reopen. For example, it can provide initial funding for: ‘hygiene kits’ with high-quality permanent sanitizer dispenser units, medical-grade hand sanitizers and a range of personal protection equipment (such as masks and gloves); help pubs and bars to establish partnerships with online reservations and cashless systems; mobile bars and outdoor equipment,” the MD elaborated.

The managing director added: ‘Our bars and eateries constitute a critical part of our hospitality and service industry. Their universe employs thousands of people and benefits many more indirectly. We have launched “Raising the Bar” because so many outlets have recorded business slowdown as a result of this health crisis and therefore, badly need to recover.”

SBL is a key stakeholder against COVID-19 in Tanzania since the first case of the pandemic was reported in the country. In March 2020, the company partnered with the ministry of health to create COVID-19 awareness to the public by distributing flyers and posters throughout the country. A month later, SBL donated sanitizers to the Ministry of Health, again supporting the country’s effort to combat the further spread of Covid-19.

The impact of Covid-19 on the hospitality sector has been widespread, with the closure of venues. However, by providing access to free digital support, technology, training and equipment, Diageo aims to help any bar, anywhere, open its doors again.

SOURCE:https://brandspurng.com/2021/06/30/covid-19-sbl-unveils-over-n2billion-to-fight-against-communicable-diseases/

Commitments at the Generation Equality Forum will advance women’s economic empowerment, strengthen health and family planning, and accelerate women in leadership as women suffer disproportionately from the pandemic
30 June 2021 – As part of the Generation Equality Forum convened by UN Women and co-hosted by the governments of Mexico and France, the Bill & Melinda Gates Foundation today announced a commitment of $2.1 billion over the next five years to advance women’s economic empowerment, strengthen women and girls’ health and family planning, and accelerate women’s leadership.

The forum takes place in Paris from June 30 to July 2, 2021, bringing together governments, the private sector, and civil society partners to commit to specific actions and announce financial, political, and programmatic commitments that will accelerate gender equality and advance women’s rights.

Not since the Fourth World Conference on Women in 1995, when 47,000 participants and activists travelled to Beijing, has the world come together to take ambitious action that will have a transformational impact for women and girls.

“The world has been fighting for gender equality for decades, but progress has been slow. Now is the chance to reignite a movement and deliver real change,” said Melinda French Gates, co-chair of the Gates Foundation. “The beauty of our fight for gender equality is that every human being will gain from it. We must seize this moment to build a better, more equal future.”

The forum takes place at a critical inflexion point. While we have seen progress over the past quarter-century, nowhere on Earth are women on equal footing with men. Waves of opposition to women’s rights have emerged, and structural barriers to gender equality and women’s health still exist.

The foundation’s $2.1 billion commitment over the next five years will advance activity in three areas: economic empowerment, health and family planning, and accelerating women in leadership.

Funding includes:
Economic Empowerment: $650 million over five years: An expansion of the foundation’s existing work on women’s economic empowerment, this funding will support women’s empowerment collectives, strengthen the care economy, improve women’s financial inclusion, and reduce barriers to paid work.
Family Planning and Health: $1.4 billion over five years: This reaffirms and expands the foundation’s commitment to family planning and women’s health, with a focus on increasing options and access to contraceptives and support for a network of family planning partners, including UNFPA Supplies Partnership, Family Planning 2030, the Global Financing Facility, and the new Shaping Equitable Market Access for Reproductive Health initiative.
Accelerating Women in Leadership: $100 million over five years / $230 million over 10 years: This is an all-new funding commitment to accelerate women’s inclusion in leadership roles, primarily in health, law, and economics. It includes a contribution to a new fund by Co-Impact that aims to dismantle systemic barriers to gender equality and women and girls’ leadership around the world.
“Gender equality must be at the centre of the world’s efforts to make progress toward the Sustainable Development Goals,” said Bill Gates, co-chair of the Gates Foundation. “Prioritizing gender equality is not only the right thing to do, it is essential to fighting poverty and preventable disease. The Generation Equality Forum is an opportunity to hold leaders accountable so that we can ensure that all people, everywhere, have the opportunity to live healthy, productive lives.”
Today, the Gates Foundation also released new data that show pandemic-driven inequality is growing at an alarming pace, driven by disruptions to women’s health services, job losses in sectors where women are overrepresented, and a sharp increase in caregiving needs and other unpaid work. “Ripple effects of the pandemic have conspired to rob women and girls of opportunity,” said French Gates.
According to the International Labour Organization:
Unemployment for women rose by 9 million in 2020 compared to 2019 and is projected to increase by another 2 million in 2021. This pattern is not true for men, who are projected to see unemployment decrease in 2021.
Total global female employment in 2021 is expected to remain 13 million below its 2019 level. By contrast, total male employment is expected to return to close to its 2019 level, exacerbating existing inequalities in the workforce.

New data by Eurasia Group also highlight that gender-equal policy can fuel the global economic recovery from the COVID-19 pandemic:
Providing access to childcare for women around the world who currently lack it could deliver up to $3 trillion of additional GDP each year by enabling them to participate in the labour force.
Instituting cash transfer programs globally could lift up to 100 million women out of absolute poverty, which is defined as living on less than $2 per day.
“Women and girls already faced unique barriers to their full participation in social and economic life, and the latest data show that the pandemic has only sharpened gender disparities,” said Mark Suzman, CEO of the Gates Foundation. “Each data point represents a woman fighting for a better future, and this funding reflects our longstanding commitment to supporting all women in their fight for a fairer and more equal world.”
The foundation has been committed to family planning and women’s health since it began more than 20 years ago. For almost a decade, it has been supporting partners around the world to break down structural barriers that women and girls face and to advance women’s economic empowerment. Gender equality is core to the foundation’s work, and the Gender Equality division is focused on accelerating progress toward a more gender-equal world.

SOURCE:https://brandspurng.com/2021/06/30/gates-foundation-2-1b-gender-equality/

Following a 70-year effort, China has been awarded a malaria-free certification from WHO – a notable feat for a country that reported 30 million cases of the disease annually in the 1940s.
“Today we congratulate the people of China on ridding the country of malaria,” said Dr Tedros Adhanom Ghebreyesus, WHO Director-General. “Their success was hard-earned and came only after decades of targeted and sustained action. With this announcement, China joins the growing number of countries that are showing the world that a malaria-free future is a viable goal.”

China is the first country in the WHO Western Pacific Region to be awarded a malaria-free certification in more than 3 decades. Other countries in the region that have achieved this status include Australia (1981), Singapore (1982) and Brunei Darussalam (1987).

“Congratulations to China on eliminating malaria,” said Dr Takeshi Kasai, Regional Director, WHO Western Pacific Regional Office. “China’s tireless effort to achieve this important milestone demonstrates how strong political commitment and strengthening national health systems can result in eliminating a disease that once was a major public health problem. China’s achievement takes us one step closer towards the vision of a malaria-free Western Pacific Region.”

Globally, 40 countries and territories have been granted a malaria-free certification from WHO – including, most recently, El Salvador (2021), Algeria (2019), Argentina (2019), Paraguay (2018) and Uzbekistan (2018).

From 30 Million Cases To Zero: China’s Elimination Journey

Beginning in the 1950s, health authorities in China worked to locate and stop the spread of malaria by providing preventive antimalarial medicines for people at risk of the disease as well as treatment for those who had fallen ill. The country also made a major effort to reduce mosquito breeding grounds and stepped up the use of insecticide spraying in homes in some areas.

In 1967, the Chinese government launched the “523 Project” – a nation-wide research programme aimed at finding new treatments for malaria. This effort, involving more than 500 scientists from 60 institutions, led to the discovery in the 1970s of artemisinin – the core compound of artemisinin-based combination therapies (ACTs), the most effective antimalarial drugs available today.

“Over many decades, China’s ability to think outside the box served the country well in its own response to malaria, and also had a significant ripple effect globally,” notes Dr Pedro Alonso, Director of the WHO Global Malaria Programme. “The Government and its people were always searching for new and innovative ways to accelerate the pace of progress towards elimination.”

In the 1980s, China was one of the first countries in the world to extensively test the use of insecticide-treated nets (ITNs) for the prevention of malaria, well before nets were recommended by WHO for malaria control. By 1988, more than 2.4 million nets had been distributed nation-wide. The use of such nets led to substantial reductions in malaria incidence in the areas where they were deployed.

By the end of 1990, the number of malaria cases in China had plummeted to 117 000, and deaths were reduced by 95%. With support from the Global Fund to Fight AIDS, Tuberculosis and Malaria, beginning in 2003, China stepped up training, staffing, laboratory equipment, medicines and mosquito control, an effort that led to a further reduction in cases; within 10 years, the number of cases had fallen to about 5000 annually.

In 2020, after reporting 4 consecutive years of zero indigenous cases, China applied for an official WHO certification of malaria elimination. Members of the independent Malaria Elimination Certification Panel travelled to China in May 2021 to verify the country’s malaria-free status as well as its programme to prevent re-establishment of the disease.

Keys To Success
China provides a basic public health service package for its residents free of charge. As part of this package, all people in China have access to affordable services for the diagnosis and treatment of malaria, regardless of legal or financial status.

Effective multi-sector collaboration was also key to success. In 2010, 13 ministries in China – including those representing health, education, finance, research and science, development, public security, the army, police, commerce, industry, information technology, media and tourism – joined forces to end malaria nationwide.

In recent years, the country further reduced its malaria caseload through a strict adherence to the timelines of the “1-3-7” strategy. The “1” signifies the one-day deadline for health facilities to report a malaria diagnosis; by the end of day 3, health authorities are required to confirm a case and determine the risk of spread; and, within 7 days, appropriate measures must be taken to prevent further spread of the disease.

Keeping Malaria At Bay
The risk of imported cases of malaria remains a key concern, particularly in southern Yunnan Province, which borders 3 malaria-endemic countries: Lao People’s Democratic Republic, Myanmar and Viet Nam. China also faces the challenge of imported cases among Chinese nationals returning from sub-Saharan Africa and other malaria-endemic regions.

To prevent the re-establishment of the disease, the country has stepped up its malaria surveillance in at-risk zones and has engaged actively in regional malaria control initiatives. Throughout the COVID-19 pandemic, China has maintained trainings for health providers through an online platform and held virtual meetings for the exchange of information on malaria case investigations, among other topics.

SOURCE:https://brandspurng.com/2021/06/30/from-30-million-cases-to-zero-china-certified-malaria-free-by-who/

The Association of Master Bakers and Caterers of Nigeria (AMBCN) have called on Federal Government led by President Muhammadu Buhari to intervene in the hike in flour by BUA Group and others.
AMBCN on Monday stressed that the hike in flour is drastically killing their businesses and may render many jobless if action is not taken immediately.

Kabiru Hassan Abdullahi, the national publicity secretary of the association who also doubles as its state secretary, Kano State branch, said that the price of flour was N9,500 not long ago but now it has reached N16,200.

Abdullahi said, “The federal government should please come to our aid. The hike is killing our businesses and it’s sad they have refused to do anything about it.

“The increment is over 50 per cent and it’s even more saddening because even with the dollar exchange rate of N1 to over N500, we still bought flour at same N9,500; but why is it now that the rate has dropped that they increasing the price? This is pure wickedness.

“What Abdulsamad Rabiu of BUA Group, IRS, super and golden confectionery are doing is unhealthy for us and the Nigerian economy. In fact, they are planning to increase it again by N7, 000. Can you can imagine?

“One thing they should know is that if we are scrapped out of the market, the rate of unemployment in the country will double up because many in their thousands will lose their jobs.

“We are still meeting and as things stand, we may have no choice than to embark on an indefinite strike

Brand Spur Nigeria recalls that bread makers and the Gurasa Bakers Association of Kano state had threatened to embark on indefinite strike if the flour companies (BUA Group – IRS, Super Mill and Golden Confectionery) fail to reverse the price of flour.

Fatima Auwalu, the chairperson of the Gurasa Bakers Association had said nothing has changed since they called off the warning strike, rather, it is going up day by day, prompting them to embark on indefinite industrial action until authorities and stakeholders do the needful.

She further lamented that apart from the increase in the price of flour, the quality of the product has been reduced, saying “this has negatively impacted our business.”


SOURCE:https://brandspurng.com/2021/06/29/bakers-and-caterers-of-nigeria-call-for-over-help-over-hike-in-flour-by-bua-others/

The Federal Government has approved the extension of the deadline for NIN-SIM data verification to July 26, 2021.
This was contained in a joint statement by the Director, Public Affairs Nigerian Communications Commission (NCC), Ikechukwu Adinde; and the Head, Corporate Communications, Nigeria Identity Management Commission (NIMC), Kayode Adegoke.



In the statement titled ‘FG approves July 26 as NIN-SIM verification deadline as enrolment systems increase to 5,410,’ the federal government said the decision to further extend the deadline was made based on a request by stakeholders.

The statement read, “The Federal Government has approved the extension of the deadline for NIN-SIM data verification to the 26th of July, 2021.

“The decision to extend the deadline was made after a request by stakeholders on the need to consolidate the enrolment and NIN-SIM verification process following the rapid increase in the number of enrolment systems across the country.

“As at June 28, 2021, a total of 5,410 enrolment systems are now available across the country and this would significantly ease the NIN enrolment process and subsequent linkage of NIN to SIM. It is worthy of note that there were only about 800 such enrolment systems as at December 2020.

“The Federal Government has approved the extension as part of its efforts to make it easier for its citizens and residents to obtain the NIN and it is important to take advantage of the extension.

“There are now a total of 57.3 million unique NIN enrolments, with average of 3 to 4 SIMs per NIN. With the great number of enrolment centres across the country, every citizen and legal resident should be able to obtain their NINs.”

SOURCE:https://brandspurng.com/2021/06/29/fg-fixes-new-date-for-nin-sim-verification-deadline/

Foreign Agricultural Services (FAS) Lagos forecasts Nigeria’s peanut total consumption in MY 2021/22 to reach over 4.8 million metric tons (MMT), up by nearly 8 percent compared to the USDA official MY 2020/21 estimate of 4.45 million metric tons (MMT).

Nigeria is the largest producer of peanuts in sub-Saharan Africa and third in the world. Prior to the persistent insurgency in the northern part of the country, groundnut pyramids were common across northern Nigeria. Groundnut pyramids were pyramid-like structures made from groundnut sacks. In tandem with the insurgency, a combination of drought, and diseases are limiting bumper production in the north.

FAS expects Nigeria’s food use domestic consumption in MY 2021/22 at around 2.8 million metric tons (MMT) an uptick of 6 percent increase compared to the USDA MY 2020/21 estimate of 2.65 million metric tons (MMT). Post sees increasing consumption of roasted, whole peanut consumption along with peanut-based snacks and peanut butter in Nigeria’s urban areas.

FAS Lagos expects Nigeria’s peanut feed waste consumption in MY 2021/22 to reach 1.2 million metric tons (MMT), up by 14 percent or growing by 150,000 metric tons (MT) compared to the USDA official MY 2020/21 estimate of 1.05 million metric tons (MMT).

The increase is due to the growth in the number of domestic ranching operations; these are using peanut waste as an affordable feed input. Poultry and aquaculture feed millers are also experimenting with feed formulations by incorporating peanut cake to reduce production costs. Peanut shells also serve as a fuel source in some local oil factories, as well as spread on fields for soil enrichment.

PRODUCTION
FAS Lagos forecasts Nigeria’s peanut production in MY 2021/22 (May-April) at 4.8million metric tons (MMT), up nearly by 9 per cent or some 400,000 metric tons (MT) from the USDA official MY 2020/21 estimate of 4.4 million metric tons (MMT).

Area harvested at 3.5 million hectares (MMT) in MY 2021/22 is up by 9 percent compared to the USDA official MY 2020/21 estimate of 3.2 million hectares. Post sees farmers in the less conflict prone states in southern Nigeria expanding plantings to take advantage of growing demand, and prices paid, by food processors and animal feed manufacturers.

TRADE
FAS Lagos forecasts Nigeria’s peanut imports in MY 2021/22 to remain same with what the USDA estimated in the previous year. Trade-in Nigeria’s peanut production is mainly locally. There is however some informal regional trade that occurs between Nigeria and the neighboring Sahel region countries (i.e., Niger, Chad, and Cameroon), where Nigerian peanuts command high prices. Nigeria is the largest peanut producer in Africa, accounting for 30 percent of Africa’s total peanut production, and third in the world after China and India.

The country’s poorer farmers produce peanut largely under rain-fed conditions. Around 30 percent of the crop exceeds permissible aflatoxin levels for most countries including Nigeria.

To reenter the global market, Nigeria needs to address the aflatoxin in peanuts issue. A few tears ago, IITA developed aflasafe, which is a biocontrol solution to reduce aflatoxin in soybean and peanut. Currently, the adoption rate of aflasafe is low among the smallholder farmers – but growing due to extension programs.

SOURCE:https://brandspurng.com/2021/06/28/nigerias-peanut-consumption-is-expected-to-grow-8-to-4-45mmt-report/

Choice International Group (CIG), manufacturers of Gree Air conditioner (Gree AC) and a leading home appliances brand has introduced Stephanie Linus as its brand ambassador in Nigeria
The event was graced by investors and the brand’s business partners from Nigeria and China, who were delighted to witness the spectacular beginning of a new phase. Speaking at the unveiling, the country manager, sale and marketing, Chibuzor Ogunka, said the brand in the last five years has made giant strides with a lot of reference projects.

According to him, “Today, we have a lot of reference projects in Nigeria as Gree Air Conditioner has powered key projects such as the Dangote refinery and the Nigerian Railway Cooperation project. We have decided to continuously ensure that our Nigerian consumers are better engaged and catered for.”

“We believe that bringing our new brand ambassador on board will help us deliver better value to the consumers as Stephanie Linus is a global Icon and will take Gree AC brand to the number spot in Nigeria,”.

During her speech, Stephanie Linus expressed her delight, narrating her personal experience with Gree ACs over the last few years and testifying to the brand’s safety and durability.

In her words, “My experience with Gree is different. It circulates effectively, it’s health-friendly, and it cools like winter. I am also thrilled at how much the company pays attention to aesthetics.”

As a United Nations Population Fund Regional Ambassador for West and Central Africa, the newly-signed brand ambassador shared how she is particular about the environmental safety that Gree AC assures its users. She also showed her commitment to creating more awareness for the brand and enabling more people to understand the quality of Gree ACs.

Gree ACs have consistently been consumers’ choice, owing to their low power consumption, quiet operation, and eco-friendliness. These qualities, among others, have undoubtedly made them the Nigerian-friendly brand.

Chief Diana Chen, Chairman of Choice International Group, the sole distributor of Gree AC, elated about the development, said that the new ambassador, beyond matching the brand’s standards, will take it to greater heights, to compete fairly at the international level. She also commended Nigeria for its great potential and revealed that her brand is focused on augmenting these potentials through capacity-building and massive empowerment projects.

While discussing the company’s plans for CSR, Chief Chen said,

“We will be launching a technician training program which will onboard 22,000 technicians who will be well-trained, equipped and remunerated. Also, in two years, we plan to supply a million ACs in Nigeria with world-class installation, as we are passionate about user experience.”

The memorable event is the first step towards more extraordinary achievements for the brand and creating innumerable opportunities for countless Nigerians who are beneficiaries of Gree’s nation-building and environment-friendly goals.

SOURCE:https://brandspurng.com/2021/06/28/gree-ac-stephanie-linus-brand-ambasador/

The General Manager of the Lagos State Traffic Management Authority (LASTMA), Mr. Olajide Oduyoye, has said that the attention of the LASTMA management has been drawn to a fake list purported to be new traffic offenses and fines published by the agency.

The General Manager further explained that the primary duties of the agency, which includes traffic law enforcement, traffic control and management is backed by law. This law was reviewed by the Lagos State House of Assembly in 2018 and still reviewed this year.

He, therefore, enjoined law abiding road users to ignore the fake list, that any new information on the traffic laws and fines will be published via the agency’s media channels or other authorized avenues by the State Government. He also urged those publishing the fake list to desist from giving credence to it and take it down.

Oduyoye advised all road users to, at all times, adhere strictly to the traffic laws of Lagos State in order to avoid paying the consequences of flouting them.

SOURCE:https://brandspurng.com/2021/06/27/lastma-general-manager-debunks-fake-list-of-new-traffic-offences-and-fines/

An urgent measles-rubella (MR) vaccination campaign was launched today in Kajiado County by the Government of Kenya, with the support of the World Health Organization (WHO), UNICEF, Gavi the Vaccine Alliance, and US Centers for Disease Control and Prevention

The campaign, which will be conducted from 26 June to 5 July, aims to vaccinate 3.9 million children aged 9 months to 5 years, in 22 counties across Kenya.

The MR campaign is now underway in the counties of: Baringo, Bomet, Bungoma, Elgeyo, Garissa, Homabay, Kakamega, Kilifi, Kisii, Kisumu, Mandera, Marakwet, Migori, Nairobi, Narok, Samburu, Tana River, Trans Nzoia, Turkana, Vihiga, Wajir and West Pokot. The target counties were selected based on high numbers of unimmunized children and reported measles outbreaks.

“The Government of Kenya has always prioritized the health of the people and that is why we are taking this urgent action to protect children from measles and rubella,” Chief Administrative Secretary for Health, Dr Mercy Mwangangi said.

“Children are a blessing from God and therefore there is no reason for them to suffer and die from preventable diseases. The vaccines are available free of charge and I urge all parents to ensure their children are vaccinated in order to protect them from these diseases.”

As part of the campaign, MR vaccines will be administered to children in health facilities, with mobile teams also providing vaccination in preschools, marketplaces, churches and other designated places on specific days. UNICEF has procured and delivered the vaccines and is supporting the mobilization of caregivers and communities. Mobile company AirTel is providing support through mass text messages, to raise awareness among parents in the target counties.

“All children have the right to access life-saving health care. Last year, routine health services including immunization were disrupted by the impact of COVID-19,” said UNICEF Representative to Kenya Maniza Zaman. “UNICEF is working hard to ensure that young and vulnerable children are vaccinated against measles and rubella

Children under five-years-old can die from measles complications and if the virus circulation is not stopped, their risk of exposure increases daily. We know that vaccination is by far the best way to keep these children safe.”

Since 2016, the MR vaccine has been offered as part of the routine childhood immunization programme in Kenya, with one dose administered at nine months and the second dose at 18 months. To ensure adequate protection in communities, it is important that at least 95 per cent of children receive the two recommended doses. In 2020, only 85 percent of children in Kenya have received the first dose and less than 50 percent have had the second dose.

“This mass vaccination will provide an opportunity for all who missed their vaccines to get it and a supplemental dose for those who received their previous dose to boost their immunity,” WHO Representative to Kenya Dr Rudi Eggers said. “Vaccination against measles will protect children from this debilitating disease which is one of the leading causes of death among children less than five years old.

Vaccination saves lives, protects against diseases and ensures that children are healthy and thus do well in school and later on in life.” No child should suffer measles or die from measles or other vaccine preventable diseases while there is an effective vaccine that is made available by the Government of Kenya.”

Globally, reported measles cases fell from over 850,000 in 2000 to 132,000 in 2016, largely due to increased vaccine coverage in low and middle-income countries. However, in recent years global cases have surged dramatically. In 2018, there were nearly 360,000 cases recorded worldwide, while measles deaths climbed 50 percent from 2016 to 2019, claiming over 207,500 lives in 2019, according to data from WHO.

SOURCE:https://brandspurng.com/2021/06/26/almost-four-million-children-set-to-receive-measles-rubella-vaccine/

Nigerian States and Federal Debt Stock data as of 31st March 2021 reflected that the country’s total public debt portfolio stood at N33.11trn.
Further disaggregation of Nigeria’s total public debt showed that N12.47trn or 37.67% of the debt was external while 20.64trn or 62.33% of the debt was domestic.



FGN Only domestic debt stock was put at N16.51 while States and FCT domestic debt stock was put at N4.12trn

Lagos state accounting for 12.31% of the total domestic debt stock while Jigawa State has the least debt stock in this category with a contribution of 0.77% to the total domestic debt stock.

SOURCE:https://brandspurng.com/2021/06/25/nigeria-total-public-debt-external-nbs/

Rising world food prices for producers are making headlines and causing concerns among the public. The most recent data show moderation in consumer food price inflation globally, but as we explain below, that could change in the coming months. This would only add to the high prices that consumers in many countries already lived through last year.
If prices eventually rise again, there will likely be sizeable differences between countries. Due to various factors, it is probable that the effect would be felt most by consumers in emerging markets and developing economies still wrestling with the effects of the pandemic.

Emerging markets and low-income countries are more vulnerable to food price shocks.
Fact #1: Food price inflation started increasing before the pandemic.
The increase in consumer food price inflation predates the pandemic. In the summer of 2018, China was hit by an outbreak of African swine fever, wiping out much of China’s hog herd, which represents more than 50 percent of the world’s hogs.

This sent pork prices in China to an all-time high by mid-2019 creating a ripple effect on the prices of pork and other animal proteins in many regions around the world. This was compounded by the introduction of Chinese import tariffs on US pork and soybeans during the US-China trade dispute.

Fact #2: Early lockdown measures and supply chain disruptions induced a spike in consumer food prices.
At the start of the pandemic, food supply chain disruptions, a shift from food services (such as dining out) towards retail grocery, and consumer stockpiling (coupled with a sharp appreciation of the US dollar) pushed up consumer food price indices in many countries—with consumer food inflation peaking in April 2020—even though producer prices of primary commodities, including food and energy, were declining sharply as demand for primary food commodities was disrupted. By early summer 2020, however, various consumer food prices had moderated, pushing down consumer food inflation in many countries.

So while food prices at your grocery store (i.e., consumer food prices) may have increased, it is an exaggeration to say that they are currently rising at their fastest pace in years. They are also not currently contributing to headline inflation, though they may do so later this year and in 2022 (see the outlook below).

Producer prices, on the other hand, have recently soared (see fact #4). But it takes at least 6-12 months before consumer prices reflect changes in producer prices. Also, on average, the pass-through from producer to consumer prices is only about 20 percent.

This is because consumer food prices include the shipping costs of primary food commodities, the processing, marketing and packaging of food, and final distribution costs such as transport costs. The last two facts will help us understand what to expect from consumer food prices.

Fact #3: Soaring shipping and transport costs.
Ocean freight rates as measured by the Baltic Dry Index (a measure of shipping costs) have increased around 2-3 times in the last 12 months while higher gasoline prices and truck driver shortages in some regions are pushing up the cost of road transport services. Higher transport costs will eventually increase consumer food inflation.

Fact #4: Global food producer prices have rallied reaching multi-year highs.
From their trough in April 2020, international food (producer) prices have increased by 47.2 percent attaining their highest (real) levels in May 2021 since 2014 (highest level ever in current dollar terms). Between May 2020 and May 2021, soybean and corn prices increased by more than 86 and 111 percent, respectively.

There are three main factors behind the recent rally in producer prices:

1. Demand for staples for both human consumption and animal feed has remained high, especially from China, as countries have stockpiled food reserves due to pandemic-related worries about food security.

2. The recent 2020-2021 La Niña episode—a global weather event occurring every few years—has led to dry weather in key food-exporting countries, including Argentina, Brazil, Russia, Ukraine, and the United States. This has caused, in some cases, harvests and harvest outlooks to fall short of expectations. As demand has outpaced supply, US and world stocks-to-use ratios—a measure of market tightness—reached multi-year lows for some staples.

3. Strong demand for biofuels increased speculative demand by non-commercial traders, and export restrictions are additional factors supporting world producer prices.

Outlook
Based on the four facts presented, it is plausible that consumer food price inflation will pick up again in the remainder of 2021 and 2022.

Indeed, the recent sharp increase in international food prices has already slowly started to feed into domestic consumer prices in some regions as retailers, unable to absorb the rising costs, are passing on the increases to consumers. More is likely to come, however, since international food prices are expected to increase by about 25 percent in 2021 from 2020, stabilizing in 2021.

A pass-through of 20 percent (13 percent in the first year and 7 percent in the second) would, thus, imply an increase in consumer food price inflation of about 3.2 percentage points and 1.75 percentage points on average in 2021 and 2022, respectively. An additional 1 percentage point to the 2021 global consumer food inflation could be added by the higher freight rates.

The impact, however, will vary by country. Consumers in emerging markets could experience even higher increases due to the higher dependency on food imports (e.g. countries in sub-Saharan Africa and the Middle East and North Africa).

The pass-through from producer prices to consumer prices also tends to be larger for emerging markets. For low-income countries struggling from the pandemic, the effects of further food inflation could be dire and risk a backslide in efforts to eliminate hunger.

Emerging markets and low-income countries are also more vulnerable to food price shocks because consumers in these countries typically spend a relatively large proportion of their income on food.

Finally, for emerging markets and developing economies an additional risk factor is the currency depreciation against the US dollar—possibly due to falling export and tourism revenues and net capital outflows. Since most food commodities are traded in US dollars, countries with weaker currencies have seen their food import bill increase.

SOURCE:https://brandspurng.com/2021/06/25/4-facts-soaring-consumer-food-prices/

FGN Bonds
The FGN bonds market held its breath in today’s session with yields across the benchmark curve remaining mostly unchanged from the previous day levels as traders anticipated the outcome of the FGN Bond primary market auction.
Consequently, yields compressed by an average of c.1bps across the benchmark curve.

At the bond auction, the DMO shocked the market by overselling bonds by over 2.2x of the amount offered, raising a total of c.333.56bn cash across the three tenors. As expected, the auction was well-bided by market participants which steered the DMO’s appetite to raise adequate cash at a cheaper level. The stop rates closed at 12.74%, 13.50%, and 13.70% for the 2027s, 2035s, and 2050s papers floated at the auction, shedding approximately c.43bps from the previous auction stop rate.

For tomorrow, we expect activities to pick sightly in the secondary market as bargain hunters take advantage of the large auction sale to cherry-pick bonds offered at attractive levels.

It was another consecutive session with muted trading activity in treasury bills space, as the cash crunch in the Money Market continues to burden banks’ position. Yields remained steady across the treasury bills curve with little or no demand to match the few offers available during the trading session. The special bills were also offered above the 9.00% band with few trades crossed at 9.20% towards the close of business.

We expect trading activities to remain tepid in the treasury bills space as banks continue to offload their OMO/NT Bills holdings in the quest to raise cash to fund their obligations.

Money Markets
Interest rates trended up by an additional 150bps from yesterday’s closing as naira dealers scrambled to cover their positions amidst tight system liquidity with the market opening in the negative territory of -c80.27Bn. Local banks camped at the CBN Lending and Repo windows to fund their daily operations, forcing OBB and Overnight rates to close 20.00% and 21.00%, respectively.

For Tomorrow, we expect interbank rates to coast around this level with most banks remaining at the SLF window as the current cash crunch is expected to linger in the interim.

FX Market
The FX space opened the day on a sluggish as traders continued to scramble for funds amidst the poorly supplied FX market. Traded volumes increased slightly by 13% from the previous day’s close while the Naira depreciating by N1.50k to close at N411.83/$, The bided range amongst banks remained wide between N400/$ and N430/$.
At the parallel market, the cash and transfer market remained unchanged for another consecutive session.

Eurobonds
Risk cleared in the sub-Saharan Eurobond markets today in reaction to the dovish US fed comments. The ANGOLAs GHANAs and IVYCSTs bonds were the most traded today as prices strengthened by an average of +58cents. The Nigerian sovereigns were not excluded in these price gains albeit it was at a slower pace when compared to the other SSA sovereigns.

The NIGERIA Corps tickers continued to trade on a bullish note, especially on the ETINL 31s paper, which remained the most sought-after bond for investors across the tracked tickers. Price on the ETINL 31s strengthened further by additional 25cents to close at 101.75 on the offer D/D

SOURCE:https://brandspurng.com/2021/06/25/dmo-sells-n330bn-worth-of-fgn-bonds-on-the-back-of-a-strong-fgn-bond-auction-demand/

Ecobank Transnational Incorporated (ETI), the Lomé based parent company of the Ecobank Group was hosted today by the London Stock Exchange for a market opening virtual ceremony to celebrate the successful listing of the Tier 2 Sustainability Notes on the London Stock Exchange (LSE) main market. This represents the first-ever Tier 2 Sustainability Notes by a financial institution in Sub-Saharan Africa.

This Tier 2 issuance is the first to have a Basel III-compliant 10NC5 structure outside of South Africa in 144A/RegS format and is now listed on the main market of the London Stock Exchange. The bond, which matures in June 2031, has a call option in June 2026 and was issued with a coupon of 8.75% with interest payable semi-annually in arrears.

An equivalent amount of the net proceeds from the notes will be used by ETI to finance or re-finance, new or existing eligible assets as described in ETI’s Sustainable Finance Framework, available at https:///3j4xrlb on which DNV issued a Second Party Opinion.

Investor interest for this Sophomore Eurobond issue was global, including United Kingdom, United States, Europe, the Middle East, Asia and Africa, achieving a 3.6x oversubscribed orderbook, of over US$1.3 billion at its peak.

Ade Ayeyemi, Group Chief Executive Officer of ETI, stated: “The strong global interest in our issuance reflects investors’ confidence in Ecobank’s strategy and our commitment to sustainable financing. We thank the LSE for hosting ETI today and look forward to value creation for all our stakeholders. ”.

The Joint Lead Managers & Bookrunners in the transaction were Citi, Mashreq, Renaissance Capital and Standard Chartered Bank.

SOURCE:https://brandspurng.com/2021/06/23/eti-officially-opens-the-market-at-the-london-stock-exchange/

GCR Ratings (GCR) has affirmed Wema Bank Plc’s national scale long and short-term issuer ratings of BBB-(NG) and A3(NG) respectively; with the Outlook changed to Evolving from Negative.

An “Evolving” outlook means that the rating symbol may be raised, lowered or unchanged over the outlook horizon.

Rating Rationale
The ratings on Wema Bank Plc (Wema) reflect its stable funding structure, intermediate capitalisation, adequate liquidity, a sustained moderate risk position and the growing competitive position within the Nigerian banking/financial institutions sector.

Wema is a mid-sized commercial bank with track record of over seven decades and remains the longest surviving indigenous bank within the country. The bank controls an estimated market share of 3% and 2.1% based on industry’s total deposits and assets respectively at FY20.

The bank’s asset base has grown significantly over the last three years to date, with an average yearly growth of 30%. In particular, customer deposits peaked at N795.5bn at Q1 FY21 from N369.2bn in FY18, attesting to increased brand acceptance within the local market.



Capitalisation is currently a moderate ratings constraint. The GCR capital ratio was relatively stable at about 14% at FY20 despite the reported growth in risk weighted assets, underpinned by the bank’s strong internal capital generation capacity.

The anticipated increase in tier one capital through a rights Issue before the end of 2021 is expected to see the capital ratio improve to around 25-30% in the next 18 months. Without the additional capital, we expect the capital ratio to be around 15%, reflecting a sustained strong internal capital generation that outpaces risk weighted asset growth.

In addition, the bank intends to dispose some of its non-core assets in the immediate future, which is expected to reduce its risk weighted assets and ultimately improve the capital adequacy ratio. Loan loss reserving is adequate with Stage 3 loans coverage of 76.7% at FY20 (FY19: 54.5%).

Wema’s risk position is viewed to be contained, with gross non-performing loans (‘NPL”) ratio registering an improvement somewhat to 4.7% at FY20, from 7.4% previously, albeit underpinned by restructured loans during the year. Credit losses of 1.7% at FY20 is considered moderate and in line with industry average.

Furthermore, concentration by obligor is perceived high, with the twenty largest exposures accounting 37.6% of the loan book at FY20, while the single largest constituted 25.7% of the capital base, breaching the 20% regulatory obligor limit.

We expect a more diversified loan book over the short to medium term as the bank continues to strategically expand its lending activities. In addition, foreign currency loans constituted 10.8% of the loan portfolio at FY20, which is favourably viewed and remained below the industry average 35%.

Wema’s funding and liquidity position is assessed at an intermediate level. Wema is largely funded through customer deposits, which has constituted around 90% of the funding base over the review period. While the deposit book mix indicated that higher cost of funding (term deposits) constituted the bulk at FY20, it reflects a decreasing rate, reflective of the bank’s focus on growing the low-cost deposits.

This notwithstanding, the relatively low interest environment saw average cost of funds moderate to 4.3% at FY20 relative from 6.9% at FY19. Liquidity is good, evidenced by the liquid nature of the balance sheet over the review period.

As at FY20, the GCR adjusted liquid assets covered total wholesale funding moderately by 3.8x, while the ratio of GCR liquid asset to total customer deposits stood at 35% (FY19: 37.2%). Though the contractual matching of assets and liabilities reflects a liquidity gap of N555bn in the critical ‘less than three-month’ maturity band, the behavioural trend reflects that a sizeable portion are usually rolled over at maturity.

Outlook Statement
The Evolving Outlook means that the rating symbol may be raised, lowered or unchanged over the outlook horizon. This reflects the assumption of Wema’s ability to raise its planned equity capital within the next 12 months. Should it materialise, we anticipate an improvement in capitalisation. We also expect NPL ratio and credit losses to remain within a sound range over the next 12 – 18 months.

Rating Triggers
The ratings could be upgraded should Wema successfully raise its capital and the GCR core capital maintained around the 20% level, assuming no change in asset quality and liquidity metrics. Conversely, if capital fails to improve and / or asset quality deteriorates, it could trigger a downward rating movement.

SOURCE:https://brandspurng.com/2021/06/23/wema-bank-rating-bbb-gcr-outlook-evolvi/

Qatar Airways’ network will increase to 14 weekly flights to Murtala Muhammed International Airport, starting 1 July
Qatar Airways’ customers from Africa can enjoy new baggage allowances ranging from 46 Kg for Economy Class split over two pieces and 64 Kg split over two pieces in Business Class
22 June 2021 – In response to high demand, Qatar Airways has increased its service to Nigeria’s financial centre, Lagos, to two daily flights starting from 1 July 2021.

Operated by state-of-the-art Boeing 787 Dreamliner featuring 22 seats in Business Class and 232 seats in Economy Class, this frequency increase will offer passengers even more flexibility to travel on board with the highest standards of hygiene measures and to enjoy a seamless travel experience onboard at Hamad International Airport.

With the addition of Côte d’Ivoire on 16 June as the fourth new African destination since the start of the pandemic, Qatar Airways currently operates over 100 weekly flights to 27 destinations in Africa. Qatar Airways also operates three weekly flights from Abuja, connecting more passengers from Nigeria to the airline’s rapidly expanding network to now more than 140 destinations.

Qatar Airways Vice-President, Africa Mr. Hendrik Du Preez said:
“Nigeria is a very important market to us and we will continue to offer more travel options and seamless connectivity to the largest network of destinations across Asia-Pacific, Europe, the Middle East and North America.

“After just under a year of resuming flights to Lagos and launching to Abuja, following the challenges imposed by the pandemic, it is a testament to the resilience of the African region that we have now increased our frequency to Lagos. We look forward to welcoming passengers on board to enjoy our world-class hospitality and service.”

With more frequencies being added to key hubs, Qatar Airways offers unrivalled connectivity to passengers, making it easy for them to travel when they want to. Qatar Airways also offers strong connectivity to Asia-Pacific with destinations such as Kuala Lumpur, Singapore, Jakarta and Manila among many others.

The global COVID-19 pandemic has created unprecedented challenges for the aviation industry and, despite this, Qatar Airways never ceased operations and worked diligently to take people home safely and reliably throughout the crisis. The airline has also added seven new destinations in the past 12 months including San Francisco and Seattle in the US, Abuja, Accra and Luanda in Africa, and Brisbane and Cebu in the Asia Pacific.

Qatar Airways has become the first global airline in the world to achieve the prestigious 5-Star COVID-19 Airline Safety Rating by the international air transport rating organisation, Skytrax. This follows HIA’s recent success as the first and only airport in the Middle East and Asia to be awarded a Skytrax 5-Star COVID-19 Airport Safety Rating.

These recognitions provide assurance to passengers across the world that airline health and safety standards are subject to the highest possible standards of professional, independent scrutiny and assessment.

SOURCE:https://brandspurng.com/2021/06/22/qatar-airways-double-daily-flight-lagos/

WhatsApp is about more than texting now, since several new features, such as WhatsApp status and display pictures also matter very much to the users.
Much like Instagram and Facebook stories, putting up WhatsApp stories are also very trendy nowadays.



But what if you see a really great video or picture on someone’s WhatsApp status? Of course, you can take a screenshot of the image, but what would you do in the case of a video?

Here is a guide on how you can download someone else’s WhatsApp status on your smartphone.

Download the Google Files mobile application on your Android smartphone.
Tap on the menu icon, which can be found at the top-left corner of the app.
Tap on the option that reads “Settings,” and turn the toggle on in front of “Show hidden files.”
Navigate to the File manager app on your phone.
Head to Internal storage > WhatsApp > Media > Statuses.
All the status that you have viewed will be shown in this folder.
Tap on the image or video that you wish to download.
Press and hold on to the chosen media item and save it to your desired location, e.g. camera, downloads, WhatsApp images, etc.

It is important for you to note that the above steps can differ from one Android device to another.

In most cases, you will immediately find the WhatsApp media folder on the screen as soon as you open the File manager.

WhatsApp had previously enabled a new feature where users were able to share their WhatsApp status in the form of Facebook stories.

SOURCE:https://brandspurng.com/2021/06/22/whatsapp-download-simple-steps-to-download-media-from-whatsapp-status/

GROHE, the leading global brand for complete bathroom solutions and kitchen fittings, has created the GROHE Tempesta 250 Head Shower, a Shower that offers a generous spray with 250 mm diameter and an integrated water flower limiter GROHE EcoJoy which offers sustainable water use without compromising on the customer’s shower experience.

After constructive market research, GROHE came to understand that people would like a generous head shower that has a spray pattern that covers the whole body like ’raindrops‘.

The GROHE Tempesta 250 Head Shower has a slim, minimalist form and an elegant chrome finish that is ideal for a modern bathroom design.

Additionally, it has product variants that offer a lot of installation flexibility. It is available in a round or square design, as a set comprising a single head shower with an arm or as a complete shower system.

The GROHE Tempesta 250 is fortified with the water-saving GROHE EcoJoy technology which sustains a water consumption rate of 9.5 litres per minute. At the same time, the showerhead has the perfect nozzle geometry that provides a voluminous shower experience without compromising on performance.

You can download high-res images of the new GROHE Tempesta 250 here. +++

SOURCE:https://brandspurng.com/2021/06/22/refreshing-new-addition-the-new-grohe-tempesta-250-head-shower/

In furtherance of its commitment to bridging the technology gap and ensuring more inclusion of women in technology, Eko Innovation Centre has partnered with Africa Agility and Impact Lagos to train 10,000 girls in Lagos in the next five years.
This was disclosed at the second edition of “Girls in Tech Bootcamp Lagos” held at the Eko Innovation Centre, Ikoyi, Lagos, which was attended by the Lagos State Governor, Babajide Sanwo-Olu alongside some of his cabinet members and other dignitaries.

The visit of the Governor also marked his final round of trips to innovation hubs across the state as part of activities marking his two years in office, and also to connect first hand with players in the tech ecosystem.

The “Girl-in-Tech” programme featured various exhibitions across health, waste and traffic management and how technology has been deployed to help solve the challenges faced within these sectors in the state, as well as help government get adequate data for good governance.

At the event, Sanwo-Olu applauded the innovations exhibited, stating that it aligns with his T.H.E.M.E.S agenda, an acronym for his administration’s six strategic development agenda namely, Traffic Management and Transportation, Health and Environment, Education and Technology.

He added that the initiative will help fast track the digitalization of the state’s operations and fuelling technology-driven innovations to transform it into a 21st century digital economy and smart city.

He said “Technology will give us the opportunity to leapfrog” as he vowed to support the initiative. He explained further that empowering women will greatly help transform the state considering how they are dedicated to work and how their impact are always felt when they embark on a task.

Also speaking at the special event, the Founder of Eko Innovation Centre, Victor Gbenga Afolabi said that achieving a smart city and inclusion of more women in technology is the aim of its partnership with Africa Agility on Girl in Tech Bootcamp Lagos.

“Eko Innovation Centre (EIC) is an innovation hub committed to accelerating the growth of businesses, leveraging technology at the core of their operations. So, we are positioned as an accelerator within the tech ecosystem. We help startup develop and accelerate their go to market strategy.

“The EIC focuses broadly on civic tech, working to drive social impact by developing tech solutions to problems faced by governments in state and regional levels. These include innovations like those developed at the Lagos smart Meter hackathon held last year.

“For this year, we have partnered with Africa Agility to equip the Nigerian female youth with the necessary digital skills they need to access opportunities in tech and business. We trained 100 girls last year and another 100 this year as part of the Girls in Tech initiative. The beneficiaries include undergraduates, unemployed, single mothers with no previous IT skills and we groomed them in the bootcamp for about a month which ended with a 3-day hackathon to proffer tech-enabled solutions around the Lagos T.H.E.M.E.S agenda.”

Speaking on why the initiative is focused on women, he explained, “Women are disproportionate in tech globally. In Nigeria and sub-Saharan Africa, less than one percent of women are actually part of the total tech ecosystem and we think the future of the world is around tech. We see it as a way of creating women emancipation and balance the imbalance that currently exists around the talents that are currently present in the technology ecosystem.”

He added that in the first two edition of the bootcamp about 200 has been trained and plans on the way to train 10,000 in the next five years. “The plan of Eko Innovation, Africa Agility and impact Lagos; who are partners on the project, is to train 10,000 girls in Lagos state over the next five years.”

Similarly, the Founder of Africa Agility, Aanu Gopald said in the last three weeks, the girls have learnt Artificial intelligence, machine learning, data science, web development, UI/UX, and agile. She explained that the six programmess learnt are most popular digital cutting-edge technology highly sought out in the world.

“The future of this is to change the narrative that girls do not belong to technology and we want Lagos State to be a pacesetter championing this movement to have more girls in technology industry. Also, for these girls to be able to solve some of the complex problem in Lagos,” she added.

Eko Innovation Centre, a leading innovation hub in the country, is created to foster the growth and development of start-ups and entrepreneurship in Nigeria. It empowers start-ups from concept to commercialization. It is behind initiatives such as Lagos Smart Meter Hackathon, Art of Technology Lagos among other laudable initiatives in partnership with Lagos State government and others.

Meanwhile, Africa Agility, a non-profit organization, over the years has embarked on several initiatives in line with its vision of a dignified smarter and brighter future for children or youths of the underserved community and the entire continent as a whole. These include STEM for Rural Areas; Agile in Higher Education; Agile Philanthropy; and Girls in Technology.

SOURCE:https://brandspurng.com/2021/06/20/eko-innovation-centre-partners-africa-agility-to-train-10000-girls-in-tech/

The National Bureau of Statistics, NBS, on Friday said that the price of yam increased in May 2021. According to the bureau, the average price of 1kg of yam tuber increased year on year by 13.96% and month on month by 6.80% to N269.98 in May 2021 from N252.80 in April 2021.
Data released by the Bureau for May 2021, tagged ‘Selected Food Price Watch’ revealed that the average price of 1 dozen of Agric eggs medium size increased year-on-year by 17.10% and month-on-month by 2.10% to N541.53 in May 2021 from N530.40 in April 2021.

Data obtained by Brand Spur showed that the average price of a piece of Agric eggs medium size (the price of one) increased year-on-year by 22.41% and month-on-month by 1.72% to N49.99 in May 2021 from N49.14 in April 2021.

Also, the report stated that the average price of 1kg of tomato increased year-on-year by 9.09% and month-on-month by 9.47% to N303.51 in May 2021 from N277.26 in April 2021.

Similarly, the average price of 1kg of rice (imported high quality sold loose) increased year-on-year by 17.46% and month-on-month by 0.65% to N544.09 in May 2021 from N540.58 in April 2021.

In May 2021, the food inflation rate on a year on year basis was highest in Kogi (32.82%), Kwara (26.02%) and Enugu (25.43%), while Akwa Ibom (20.06%), Bauchi (18.65%) and Abuja (16.91%) recorded the slowest rise in year on year inflation.

On a month-on-month basis, however, May 2021 food inflation was highest in Kogi (3.11%), Ogun (2.89%) and Anambra (2.37%), while Edo, Sokoto and Ekiti recorded price deflation or negative inflation (general decrease in the general price level of food or a negative food inflation rate).

In May 2021, all items inflation on year on year basis was highest in Kogi (25.13%), Bauchi (23.02%) and Sokoto (20.11%), while Katsina (15.69%), Imo (15.52%) and Delta (14.85%) recorded the slowest rise in headline Year on Year inflation.

On a month-on-month basis, however, in May 2021 all items inflation was highest in Kogi (2.22%), Ogun (2.17%) and Cross River (2.07%), while Ekiti (0.02%) recorded the slowest rise in headline month on month with River and Sokoto recording price deflation or negative inflation (general decrease in the general price level of food or a negative food inflation rate).

SOURCE:https://brandspurng.com/2021/06/20/price-of-yam-tuber-by-6-8-in-may-nbs/

This year’s Father’s Day calls for themed releases that will help to celebrate the occasion. However, the number and the variety of ideas are rather underwhelming compared to the efforts brands make with Mother’s Day.
As a result, brands fail to capitalize on the existing demand and reject a chance to send a message of appreciation for the crucial role of fathers in society, writes GlobalData, a leading data and analytics company.

Nina Nowak, Senior Researcher at GlobalData, comments:
“Approximately a quarter of UK male consumers show experimental attitudes in categories traditionally perceived as suitable for gifting. GlobalData’s survey found that 26% of male consumers in the UK like to experiment with new varieties of chocolate, confectionery, and desserts, while 20% display the same attitude in alcoholic drinks.”

Nowak continues:
“Despite women showcasing more sensory-driven attitudes in confectionery, similar rates are observed in alcoholic drinks, which makes the low number of tailored Father’s Day products rather surprising. A great opportunity to capitalize on product ideas with limited edition and unconventional flavours is being missed out on.”

The assumption that fathers do not appreciate the same experiences as mothers could be another reason behind the lower number of Father’s Day celebration releases. However, figures show that male attitude towards lifestyle does not significantly differ from female.

According to GlobalData’s 2019 Q3 consumer survey, 93% of UK men have indicated rest and relaxation to be either very important or important to them and 86% said developing or maintaining positive personal relationships is very important or important.

These results match the results of the female group: 92% and 89%, respectively. Thus, products designed to celebrate family time and to accompany relaxing occasions could resonate with men just as much as they do with women.

Despite the underwhelming number of Father’s Day-themed launches, some brands have attempted to create products suitable for the occasion. A limited-edition Cadbury range features the brand’s classic chocolate re-packaged to cater to dads passionate about football.

Different UK team logos, such as Manchester United, Liverpool, or Aston Villa deliver a personalized touch. M&S has prepared an updated version of its famous Colin the Caterpillar cake.

The half-regular size cake is marketed as a gift suitable for a “superhero dad.” Beer connoisseur fathers could be the target audience for Bier’s Company’s “super dad beer box” with 24 cans of craft beer, a set of snacks, finished up with a pair of consistently themed socks.

Nowak concludes:
“Brands are slowly recognizing their role in supporting gender equality and their ability to shape consumer views on important subjects, including parenthood. A seemingly trivial topic of overlooked Father’s Day gifting ideas indicates a bigger issue that should be tackled. Celebrating fathers with personalised and indulgent products could benefit both the business and the consumer.”

SOURCE:https://brandspurng.com/2021/06/18/brands-father-day-increasing-demand/

The National Bureau of Statistics (NBS) said that the average price paid by consumers in Nigeria across major fuel types (Cooking Gas, Diesel, Kerosene and Petrol) increased month-on-month and year-on-year May 2021.
However, the average price for the refilling of a 12.5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) decreased by -0.66% month-on-month and increased by 3.68% year-on-year to N4,288.95 in May 2021 from N4,317.55 in April 2021.

The bureau announced this in its “National Price Watch for Cooking Gas, Diesel, Kerosene and Petrol’’ released on Wednesday in Abuja.

LIQUEFIED PETROLEUM GAS (COOKING GAS) – 5KG CYLINDER
According to the report made available to Brand Spur Nigeria, the average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) increased by 0.12% month-on-month and by 5.43% year-on-year to N2,071.69 in May 2021 from N2,069.21 in April 2021.

Also, states with the highest average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were:
Bauchi – N2,486.39
Borno – N2,393.87
Adamawa – N2,392.62

While states with the lowest average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were:
Jigawa – N1,726.86
Abuja – N1,808.20
Lagos – N1,841.93
LIQUEFIED PETROLEUM GAS (COOKING GAS) – 12.5KG CYLINDER
Similarly, the average price for the refilling of a 12.5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) decreased by -0.66% month-on-month and increased by 3.68% year-on-year to N4,288.95 in May 2021 from N4,317.55 in April 2021.

The report stated the states with the highest average price for the refilling of a 12.5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were:
Abuja – N4,825.00
Enugu – N4,754.55
Plateau – N4,650.00

States with the lowest average price for the refilling of a 12.5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were:

Kaduna – N3,736.07
Zamfara – N3,749.04
Katsina – N3,856.31

PREMIUM MOTOR SPIRIT (PETROL)
The average price paid by consumers for premium motor spirit (petrol) increased by 29.61% year-on-year and month-on-month by 1.01% to N168.06 in May 2021 from N166.38 in April 2021.

According to the report, states with the highest average price of premium motor spirit (petrol) were:

Lagos – N186.26
Benue – N180.83
Ebonyi – N177.40
States with the lowest average price of premium motor spirit (petrol) were:

Gombe – N161.33
Borno – N162.27
Zamfara – N162.31)



AUTOMOTIVE GAS OIL (DIESEL)
The average price paid by consumers for Automotive Gas Oil (diesel) increased by 0.69% month-on-month and by 8.99% year-on-year to N238.82 in May 2021 from N237.19 in April 2021.

States with the highest average price of diesel were:
Sokoto – N259.29)
Bauchi – N258.00
Benue – N256.17
States with the lowest average price of diesel were:
Nasarawa – N213.89
Delta – N215.52
Rivers – N223.24

NATIONAL HOUSEHOLD KEROSENE
Similarly, the average price per litre paid by consumers for National Household Kerosene increased by 0.23% month-on-month and by 9.03% year-on-year to N363.50 in May 2021 from N362.68 in April 2021.

States with the highest average price per litre of kerosene were:
Ebonyi – N477.08
Enugu – N464.44
Taraba – N437.04
States with the lowest average price per litre of kerosene were:
Bayelsa – N251.11
Yobe – N298.15
Abuja – N305.33
Similarly, the average price per gallon paid by consumers for National Household Kerosene increased by 3.34% month-on-month and by 4.94% year-on-year to N1,266.99 in May 2021 from N1,226.08 in April 2021.

States with the highest average price per gallon of kerosene were:
Plateau – N1,490.00)
Kebbi – N1,475.00
Niger – N1,447.50
States with the lowest average price per gallon of kerosene were:
Bayelsa – N1,027.50
Delta – N1,050.00
Adamawa – N1,078.33

SOURCE:https://brandspurng.com/2021/06/18/cooking-gas-diesel-kerosene-petrol-nbs/

Ericsson and Samsung have reached a multi-year agreement on global patent licenses between the two companies, including patents relating to all cellular technologies. The cross-license agreement covers sales of network infrastructure and handsets from January 1, 2021.
Furthermore, Ericsson and Samsung have agreed on technology cooperation projects to advance the mobile industry in open standardization and create valuable solutions for consumers and enterprises.

This settlement ends complaints filed by both companies before the United States International Trade Commission (USITC) as well as the ongoing lawsuits in several countries and confirms the value of the strong patent portfolios of both companies. The details of the agreement are confidential and will not be disclosed.

Ericsson’s IPR licensing revenues continue to be affected by several factors, mainly expired patent license agreements pending renewal, geopolitical impact on the handset market, technology shift from 4G to 5G, and possible currency effects going forward. In the second quarter of 2021, IPR licensing revenues, including the new agreement covering sales from January 1, 2021, are expected to be SEK 2.0 b to 2.5 b.

Christina Petersson, Chief Intellectual Property Officer at Ericsson says: “We are delighted to sign a mutually beneficial agreement with Samsung. This important deal confirms the value of our patent portfolio and further illustrates Ericsson’s commitment to FRAND principles.”

Over several decades, Ericsson has made significant investments in R& and in developing global mobile standards and is committed to licensing its standard-essential patents on fair, reasonable and non-discriminatory (FRAND) terms for the benefit of consumers and enterprises everywhere.

The FRAND system allows access to technology and intellectual property, developed by inventors like Ericsson, and also rewards those inventors for their major up-front investment in R& in each mobile generation.

The value of Ericsson’s IP portfolio extends to more than 57,000 granted patents and is strengthened by an annual investment in R& of approx. SEK 40 b. With a leading global position in 5G, the company is confident of growing its IPR revenues long term, thereby further maximizing the value of the overall patent portfolio.

SOURCE:https://brandspurng.com/2021/06/18/ericsson-samsung-global-patent-license/

The equities market closed positive at the end of today’s trading session as the benchmark index improved by 0.13% to close at 38,615.11 points. This was mainly due to the buy pressure in bellwether stocks such as GUARANTY (1.78%) and NB (1.2%).
Consequently, the YTD loss improved to -4.11% as market capitalization increased by ₦26 billion to close at ₦20.13 trillion. The Sectoral Performance strengthened as three of the five indices under coverage improved, one declined while the Oil & Gas closed flat at 314.21 points.

The Insurance index, the biggest gainer, improved by 1.01%, followed by the Banking (0.81%) and Consumer Goods (0.18%) indices respectively.

On the flip side, the Industrial index was the only loser under coverage, weakened by (-0.02%).

Investor sentiment strengthened in today’s trading session, as market breadth improved to 2.25x from 1.29x. This was illustrated by the advance of 18 stocks, led by CHAMPION (10.00%) and WAPIC (9.43%), and the decline of 8 stocks, led by CHIPLC (-8.96%) and UNITYBNK (-3.51%).

Activity level weakened as total volume and value decreased by 47.00% and 50.36% as investors exchanged about a 160.44million units of shares worth over N1.40billion respectively.

Fixed Income
There was mixed sentiment across the bond yield curve as 2 of the 4 bond yields under coverage increased while the FGN-APR-2023 and FGN-JUL-2030 closed flat at 11.72% and 12.52% respectively. The FGN-APR-2024 and FGN-JAN-2026 tenor yields increased by 0.06% and 0.12% respectively.

Treasury bill yields for the 90, 180 and 365-day papers closed at 4.71%, 6.28% and 9.76%.

We expect bullish momentum to persist in the next trading session as the equities market still presents decent opportunities for investors chasing positive real return on investments.
MARKET SNAPSHOT
Bullish Sentiment Persists in Local Bourse, NSE ASI Gains 13bps
Mixed Sentiment across the Bond Yield Curve
Negative Performance in Global Stocks as 4 of the 6 under Coverage Declined
Bearish Performance in Commodities Market
Bullish Sentiment in African Stocks

SOURCE:https://brandspurng.com/2021/06/17/investors-gain-n28-26bn-nse-asi-inches/

Rising rates suggest increasing numbers of medically unnecessary, potentially harmful procedures
According to new research from the World Health Organization (WHO), caesarean section use continues to rise globally, now accounting for more than 1 in 5 (21%) of all childbirths. This number is set to continue increasing over the coming decade, with nearly a third (29%) of all births likely to take place by caesarean section by 2030, the research finds.
While a caesarean section can be an essential and life-saving surgery, it can put women and babies at unnecessary risk of short- and long-term health problems if performed when there is no medical need.


“Caesarean sections are absolutely critical to saving lives in situations where vaginal deliveries would pose risks, so all health systems must ensure timely access for all women when needed,” said Dr Ian Askew, Director of WHO’s Department of Sexual and Reproductive Health and Research and the UN joint programme, HRP.

“But not all the caesarean sections carried out at the moment are needed for medical reasons. Unnecessary surgical procedures can be harmful, both for a woman and her baby.”

Caesarean sections can be essential in situations such as prolonged or obstructed labour, fetal distress, or because the baby is presenting in an abnormal position. However, as with all surgeries, they can have risks. These include the potential for heavy bleeding or infection, slower recovery times after childbirth, delays in establishing breastfeeding and skin-to-skin contact, and increased likelihood of complications in future pregnancies.

Caesarean section rates rising globally, though unequally, with increases projected to continue
There are significant discrepancies in a woman’s access to caesarean sections, depending on where in the world she lives. In the least developed countries, about 8% of women gave birth by caesarean section with only 5% in sub-Saharan Africa, indicating a concerning lack of access to this lifesaving surgery.

Conversely, in Latin America and the Caribbean, rates are as high as 4 in 10 (43%) of all births. In five countries (Dominican Republic, Brazil, Cyprus, Egypt and Turkey), caesarean sections now outnumber vaginal deliveries.

Worldwide caesarean section rates have risen from around 7% in 1990 to 21% today, and are projected to continue increasing over this current decade. If this trend continues, by 2030 the highest rates are likely to be in Eastern Asia (63%), Latin America and the Caribbean (54%), Western Asia (50%), Northern Africa (48%) Southern Europe (47%) and Australia and New Zealand (45%), the research suggests.

Quality, women-centred care needed to address the high use of caesarean section

Causes of high caesarean section usage vary widely between and within countries. Drivers include health sector policies and financing, cultural norms, perceptions and practices, rates of preterm births, and quality of healthcare.

Rather than recommending specific target rates, WHO underscores the importance of focusing on each woman’s unique needs in pregnancy and childbirth.

“It’s important for all women to be able to talk to healthcare providers and be part of the decision making on their birth, receiving adequate information including the risks and benefits. Emotional support is a critical aspect of quality care throughout pregnancy and childbirth,” said Dr Ana Pilar Betran, Medical Officer at WHO and HRP.

WHO recommends some non-clinical actions that can reduce medically unnecessary use of caesarean sections, within the overall context of high quality and respectful care:
Educational interventions that engage women actively in planning for their birth such as childbirth preparation workshops, relaxation programmes and psychosocial support where desired, for those with fear of pain or anxiety. Implementation of such initiatives should include ongoing monitoring and evaluation.
Use of evidence-based clinical guidelines, performing regular audits of caesarean section practices in health facilities and providing timely feedback to health professionals about the findings.
Requirement for a second medical opinion for a caesarean section decision in settings where this is possible.
For the sole purpose of reducing caesarean sections, some interventions have been piloted by some countries but require more rigorous research:
A collaborative midwifery-obstetrician model of care, for which care is provided primarily by midwives, with 24-hour back-up from a dedicated obstetrician
Financial strategies that equalize the fees charged for vaginal births and caesarean sections.

SOURCE:https://brandspurng.com/2021/06/17/who-warn-caesarean-section-increases-21/

Dangote Cement Plc, Africa’s largest cement producer, announces the successful issuance of N50 billion Series 1 Fixed Rate Senior Unsecured Bonds under the company’s new NGN300 billion Multi-Instrument Issuance Programme. The bonds were issued on May 26 2021 at coupon rates of 11.25%, 12.50% and 13.50% for the 3, 5 and 7-year tranches respectively.
Despite market headwinds, the bond issuance was well received and recorded participation from a wide range of investors including domestic pension funds, asset managers, insurance companies and high net-worth investors.

Dangote Cement truck drivers protest alleged mistreatment Brandspurng

The proceeds of the bond issuance will be deployed for the company’s expansion projects, short-term debt refinancing and working capital requirements. Aside from this first issuance of a traditional bond under the new Multi-Instruments Programme, Dangote Cement has registered a programme enabling it to consider different types of fixed income instruments to cater for different type of investors.



The ability to issue Green Bonds and Sukuk will enable the company to leverage the depth and breadth of the Nigerian market.

Commenting on the bond issuance, Michel Puchercos, Chief Executive Officer of Dangote Cement Plc. stated:

“This bond issuance allows us to move a step further in achieving our expansion objectives and will be deployed to projects instrumental in supporting our export strategy while improving our cost competitiveness. We thank the investor community for their continued support in the management of Dangote Cement and their successful participation in the bond issuance.”

Absa Capital Markets Nigeria acted as Lead Issuing House for the Series 1 Bonds, and Stanbic IBTC Capital, Standard Chartered Capital & Advisory Nigeria Limited, United Capital Plc, FBN Quest Merchant Bank, FCMB Capital Markets, Coronation Merchant Bank, Ecobank Development Corporation Nigeria, Futureview Financial Services, Meristem Capital Limited, Rand Merchant Bank, Quantum Zenith Capital and Vetiva Capital Management acted as Joint Issuing Houses.

The Bonds will be listed on the Nigerian Exchange Limited and FMDQ Securities Exchange.



Dangote Cement Plc is Sub-Saharan Africa’s largest cement producer with an installed capacity of 48.6Mta capacity across 10 African countries. We operate a fully integrated “quarry-to-customer” business with activities covering manufacturing, sales and distribution of cement. We have a production capacity of 32.3Mta in our home market, Nigeria.

SOURCE:https://brandspurng.com/2021/06/17/dangote-cement-issuance-of-n50b-bonds/

June 15, 2021 – Transactions on Local Bourse closed today (Tuesday) on a bearish note. The negative performance was a result of investor’s profit-taking sentiments in recently appreciated bellwether stocks like AIRTELAFRICA, OKOMUOIL, and 24 others, as inflation declines for the second consecutive month to 17.93% in May.
Consequently, the market capitalization declined by 1.66% while the NGX-ASI reduced by 1.67%. However, the market breadth closed positively recording 26 gainers against 19 losers.

In summary, the All-Share Index (ASI) dropped by 648.99 absolute points, representing a decline of 1.66% to close at 38,507.29 points. However, the overall Market Capitalization value shed N339.85 billion, representing a decrease of 1.67%.

The discrepancy between the NGX-ASI and the market capitalization was a result of the delisting of four companies, namely: Evans Medical Plc, Nigerian-German Plc, Roads Nigeria Plc, Unic Diversified Holdings Plc to close at N20.07trillion.

CWG emerged as the top gainer (by percentage points) for today, with a maximum price appreciation of +9.73%, while AIRTELAFRICA emerged as a top loser (by percentage points) with a maximum price depreciation of -10.00%.

Today’s market downturn was driven by price depreciation in large and medium capitalized stocks amongst which are; AIRTELAFRICA(-10.00), OKOMUOIL(-9.44%), AFRIPRUD(-8.33%), PZ(-3.33%), PRESCO(-2.50%), STANBIC(-2.44%), UACN(-2.06%), GUARANTY(-1.38%), TRANSCORP(-1.11%), FLOURMILLS(-1.00%), FCMB(-0.96%), UBA(-0.70%), VITAFOAM(-0.42%), NASSCON(-0.34%), DANGSUGAR(-0.28%), and GUINNESS(-0.17%).

FOREIGN EXCHANGE
The Investors and Exporters (I&E) FX window opened at N411.46, traded high at N430.00, traded low at N400.00, and eventually closed at N411.75, depreciating by 0.23% against Friday’s closing position.

SOURCE:https://brandspurng.com/2021/06/16/consumer-goods-equity-market-inflation/

In a year that required careful navigation of COVID-19 challenges, MultiChoice Group (MCG), Africa’s leading video entertainment company, added 1.4m 90-day active subscribers to close the year ended 31 March 2021 (FY21) on 20.9m subscribers.
The group subscribers split is between 8.9m in South Africa and 11.9m in the Rest of Africa (RoA). This represents an accelerated 7% growth year-on-year (YoY), driven by heightened consumer demand for video entertainment products, continued penetration of the mass market and an easing of electricity shortages in southern Africa.

Further analysis by Brand Spur revealed that Multichoice’s revenue was resilient, growing by 4% (4% organic) to R53.4bn. This performance, coupled with a firm focus on cost containment and a R1.5bn (R2.7bn organic) reduction in trading losses in the Rest of Africa translated into a 28% (44% organic) increase in trading profit to R10.3bn.

Multichoice Core headline earnings, the board’s measure of sustainable performance, was up a meaningful 32% YoY to R3.3bn, while free cash flow grew a solid 10% to R5.7bn.

The group reported R8.5bn in cash and cash equivalents at year-end. Combined with R4bn in undrawn facilities, this provides R12.5bn in financial flexibility to support dividends and growth initiatives.

“The COVID-19 pandemic taught us more about the art of the possible,” says Calvo Mawela, Chief Executive Officer. “We started the year confronted with severe disruptions to our programming schedules, bleak macro-economic forecasts for many of our markets and sharply weaker currencies. In the face of these challenges, our teams rallied together – this helped us deliver on all our key performance metrics and provide more value to our shareholders by declaring a R2.5bn dividend.”

The group continued its differentiation strategy by stepping up its investment in local content. Despite production stoppages and travel restrictions brought about by the pandemic, it produced 19% more content than last year – a sizeable 4 567 hours. As a result, the total local content library now exceeds 62 000 hours. Some 42% of the group’s general entertainment spend was on local content and it remains on track to reach its target of 45% by FY22.

To help manage US dollar-based costs, two major international content agreements (and several smaller ones) were renegotiated into South African rand (ZAR). The group also launched 11 new local language channels across sub-Saharan Africa, completed five new co- productions with global content producers and sold 16 of its series to international buyers.

In addition to compelling local stories, MCG continues to broadcast the best of sport. This year, the group renewed the rights to the English Premier League and UEFA Champions League and also secured broadcasting rights to the FIFA World Cup 2022 in Qatar. On the international content front, it maintains mutually beneficial relationships with its studio partners, and has successfully added access to Netflix, Amazon Prime and more recently YouTube on its DStv Explora Ultra decoder.

In addition to the new products and services launched during the first half of the year (including Showmax Pro, DStv Communities, DStv Rewards and ADD Movies), the Group expanded its financial services portfolio, going beyond offering pure decoder insurance to include funeral cover, subscription waiver and debt waiver products.

“We have a highly engaged base of 20.9m subscribers and with an average of five people per household, this helps us reach approximately 100 million people. We see great opportunity to keep enriching the lives of our customers by expanding our entertainment ecosystem with innovative offerings that will also enhance our revenue prospects,” commented Mawela

The Group made a 20% investment in pan-African sports betting business BetKing and subsequent to year end has announced its intention to increase this investment to 49%. This investment will increase the group’s shareholding in BetKing from 20% to 49% for a consideration of $282m (R4.0bn). This investment offer remains subject to preconditions being met.

FINANCIAL REVIEW
Both advertising and commercial subscription revenues were significantly impacted by COVID-19. Advertising revenues were down 34% YoY (R0.6bn) at the interim stage but recovered well in the second half as COVID restrictions eased, ending 11% down YoY at R2.8bn.

Similarly, commercial subscription revenues started to recover in the latter part of the financial year but finished 35% lower than the prior year. The hospitality industry is expected to take some time to return to normal trading.

The group achieved its target of generating positive operating leverage by keeping revenue growth ahead of the growth in costs. Organic revenue growth of 4% combined with a 3% organic reduction in operating costs resulted in improved operating leverage of 7%, 2 percentage points higher than the prior year.

A focus on tight cost controls and the early implementation of cost cutting initiatives underpinned an expansion in the group’s trading margin from 16% to 19%. Cost savings amounted to R1.5bn for the year, exceeding the group’s stretch target of R1.4bn. Savings were largely fixed in nature with more than half relating to content and the balance to a broad range of initiatives such as sales and marketing and lower decoder unit costs.

Capital expenditure (capex) of R1.6bn was R0.7bn up on the prior year, primarily due to a multi-year investment programme to upgrade the group’s customer service, billing and data capabilities. As one of the largest taxpayers in Africa, MCG paid direct cash taxes of R4.1bn, slightly more than the prior year driven by higher group profitability.

The strength of the balance sheet remains critically important given the uncertain longer- term economic impact of COVID-19 and funding requirements for the Rest of Africa, which is also impacted by liquidity constraints in Nigeria. Of the reported cash balance of R8.5bn, holdings of R2.5bn (FY20: R1.7bn) in Nigeria, Angola and Zimbabwe remain exposed to weaker currencies.

To improve the group cost of capital and reinforce the statement of financial position, an amortising working capital loan of R1.5bn was concluded in November 2020. The loan has a three-year term and bears interest at an all-in fixed rate of 5.75%.

SOURCE:https://brandspurng.com/2021/06/14/multichoice-profit-1-4m-subscribers/

Leading telecommunications services provider, Airtel Nigeria, has been declared the ‘Best in Test’ following a nationwide broadband assessment by umlaut, an international, full-service, cross-industry, end-to-end company that offers advisory and fulfilment services to clients globally.
According to Hakan Ekmen, CEO of Telecommunications at umlaut, Airtel achieved the best-rated broadband coverage and user download speed among other mobile network operators, scoring the highest with 697 points, while MTN emerged second with 663 points, 9mobile with 591 and Glo with 486 points.

The tests were carried out with umlaut’s crowdsourcing methodology, which was used to evaluate the mobile networks in Nigeria. Consequently, an extensive analysis revealed two-hundred and sixty-three thousand (263,000) users have contributed 707.4-million samples in 24 weeks from October 2020 until early April 2021.

Speaking on the metrics of the assessment, Ekmen stated that over 80% of urban build-up and population areas were tested to arrive at the results. He went on to laud Airtel for emerging the best-rated, citing it as a remarkable feat and a positive step towards attaining digital equality in Africa.

“In our nationwide assessment, 82.8% of the urban build-up area and 83.9% of the Population area were tested. We concluded that Airtel Nigeria is Best in Test, achieving the highest umlaut score with 697 points.

“Airtel achieved the best-rated broadband coverage and user download speed. This is remarkable in one of the largest telecommunications communities on the African continent, a positive step towards Digital Equality”, he stated.

Ekmen went on to state that umlaut’s sophisticated methodology enables the results to be comparable across network operators globally, emphasizing the transparency it provides in not only boosting network quality and performance but also improving the experience for every customer.

He further stated that while the results in Nigeria are quite impressive, there is still room for improvement in global comparison, however, the competition in Nigeria’s telecoms landscape is working favourably for consumers in the country.

SOURCE:https://brandspurng.com/2021/06/13/airtels-broadband-coverage-best-umlaut/

Governor Udom Emmanuel has been lauded for prioritizing the welfare of Akwa Ibom State medical workers, making them the highest paid in Nigeria.
Chairman of the Nigerian Medical Association, Akwa Ibom State, Dr. Ime Udoh said this when he led a delegation of executive committee members of the Association to visit the Governor at Government House, Uyo, Saturday.

Dr. Ime Udoh, who thanked Governor Emmanuel for being the first Chief Executive to grant the Association audience in the state, lauded his administration’s passionate attention to healthcare. He explained that “Your Excellency’s approval of a Consolidated Medical Salary Scale, CONMESS, places workers in the state government’s employ as highest paid in the country”.

Dr. Udoh further applauded the Governor’s ingenuity in containing the COVID-19 pandemic, as well as the commencement of the state university teaching hospital AKSUTH among other initiatives.

He said these were indicative of his government’s acknowledgement of health as the ‘sub-stratum for development, adding that the government has not only prevented the capital flight from the state but has, through the Jubilee Syringe Factory, attracted medical tourism to the state.

Receiving the NMA leadership, Gov Emmanuel, said with AKSUTH the state was set to bridge the gap between the already existing ultra-modern secondary and quaternary medical facilities in the state and reiterated his administration’s resolve to maintain the status quo of the health workers in the state being the highest-paid nationwide.

Governor Emmanuel acknowledged the contributions of medical practitioners in the state government’s fight against COVID-19.

Affirming his administration’s resolve to ensure a holistic approach in revamping the state’s healthcare sector, Governor Emmanuel said the Jubilee Syringe Factory, beyond its reputation of largest syringe production capacity in Africa, will soon venture into production of all plastic medical consumables, assuring that the state-of-the-art Akwa Ibom State University Teaching Hospital, AKSUTH, underway, will be a model tertiary hospital.

“Not just the syringe, we are starting other consumables; everything plastic consumable in the medical line, like all those gloves.

“We need a lot of your support in setting up our Teaching Hospital and we really mean business about that.
“As a state, we are doing well in the secondary healthcare system. We jumped to establish a quaternary hospital. The next level is to set up a very good tertiary hospital.

“When we run that one well, well equipped, it will give birth to a College of Medicine. With what we have in mind and what we are going to bring in, we will have the best Teaching Hospital owned by a state government”.

“He congratulated members of the new NMA leadership in the state on their emergence and urged them to use the pivotal position of the Medical Association to support his administration’s drive towards holistic development of the healthcare sector.

He rued that lack of good surgery recovery plan, bedside manners, laboratory services and other complementary services can render the medical practice counterproductive.

“Where I am suffering very much now, as a governor, is bedside manners with recovering patients. When you finish as the Doctor it is not all over. The recovery of that patient at times is as serious as what you did, especially in the theatre.

“You only go on ward rounds, maybe in the morning or evening, you don’t know what happens to those people, but I’m getting a whole lot of reports of terrible bedside manners of nurses and other medical workers.

“I’m also having a whole lot of issues is all these labs being set up and we are going to clamp down on them very soon”, the governor said.

SOURCE:https://brandspurng.com/2021/06/13/gov-udom-akwa-ibom-workers-highest-paid/

First Bank of Nigeria Limited announces its lead sponsorship of the movie titled ‘Ayinla’, which is billed to premiere on Sunday, 13 June 2020.
The movie is suspense-driven, narrating the life of Ayinla Yusuf, popularly known as Ayinla Omowura (an Apala musician), his rise to fame, his identity, the depth of his craft and music, and the basis for his relevance after his tragic death forty years ago as a result of a stab from his manager, Bayewu, during a bar fight on the 6th of May, 1980 in Abeokuta.

Ayinla is directed by multiple award-winning and globally acclaimed Nigerian filmmaker and director, Tunde Kelani, and produced by Jadesola Osiberu.

According to Tunde Kelani, filmmaker and founder, Mainframe Opomulero Productions,
“the making of Ayinla allows us to throw a glance over our shoulders to our often-neglected intangible heritage. Nigeria is blessed with huge cultural diversity and locked away are thousands of stories we can share with a global audience. FirstBank’s partnership with us at this stage is not a mere coincidence, owing to its over hundred years of historical contribution in unlocking the huge potentials in Nigeria which can offer continental and global audiences”.

With the sponsorship of similar socio-cultural initiatives in the creative arts industry like Moremi, Makaliki, Oba Esugbayi stage drama, October 1st (a movie) and the Calabar Festival. The Bank’s sponsorship of ‘Ayinla’ affirms the Bank’s support for the development of arts in Nigeria under its First@arts initiative.

First@arts is FirstBank’s platform for consolidating all its efforts in the arts, supporting the entire value chain of the creative arts, providing much-needed financing and advisory support, showcasing and facilitating the successes of the industry, and enabling customers to explore and access the wealth of opportunities the creative industry has to offer.

Achieving these and a host of many others have been implemented through strategic partnerships with organizations like the British Council, Duke of Shomolu Productions, Live Theatre Lagos, Freedom Park, Terra Kulture, and the Cross Rivers State Government (Calabar Festival), amongst many others.

Ayinla appeals to a multifaceted audience that cuts across fans of highlife and afrobeat music, the youth, and the elite Yoruba demography. It features some of Nollywood’s favourite stars including Adedimeji Lateef who played the role of Ayinla Omowura, Kunle Afolayan, Bimbo Ademoye, Mr. Macaroni, Omowunmi Dada, Ade Laoye, Jumoke Otedola, and Bimbo Manuel.

Speaking on the movie, Jadesola Osiberu, Movie Producer & Founder, Greoh Studios said,
“Working with the great Tunde Kelani is something I have wanted to do for a long time, and I am so glad that we were able to do it on a project like Ayinla. This collaboration was an interesting experience, and I am glad everyone finally gets to see the film we made in the cinemas nationwide from 18 June 2021. I’d like to thank the management of First Bank of Nigeria Limited for choosing to come on this journey with us.”

Expressing her delight on the movie, Folake Ani-Mumuney, Group Head, Marketing & Corporate Communications, FirstBank said;
“For over 127 years, FirstBank has been at the forefront of nation-building; enabling Nigeria and Nigerians through resourceful partnerships to build the Nigerian creative industry value chain, especially the arts and entertainment sub-sectors. We remain proud of this sponsorship that creates an excellent platform to showcase Nigeria to the world as being part of a collective goal to continually keep dreams and hope alive; holding strong to our commitment to reignite cultural heritage.”

“Without a doubt, the movie industry remains part of the creative and entertainment industry value-chain across the globe and indeed a powerful channel to drive our heritage and culture, which resonates with our legacy of being woven into the fabric of society.”

According to research disclosed in PWC’s recent Entertainment & Media Outlook report, Nigeria’s entertainment is expected to rise from $4.46 billion in 2018 to a $10.5 billion market by the end of 2023. In addition, with this initiative and other sponsored event, FirstBank is committed to strengthening its contribution to the development of the entertainment industry in the country.

SOURCE:https://brandspurng.com/2021/06/13/firstbanks-movie-ayinla-premieres/

Globally, food is more than 27% more expensive than it was between 2014-2016. As a result of the pandemic, food prices actually fell initially, but now with markets back on track, prices are rising faster than ever.
The wholesale price of food initially fell during the COVID-19 pandemic but has since risen steeply, according to the global FAO Food Price Index. One of the main drivers in price rises is palm oil. Global cereal prices also showed a significant bump in the past months.

After the wholesale price of food initially slumped during the coronavirus pandemic, the global FAO Food Price Index has shown a steep increase since the fall. Most recently, food around the world was more than 27 percent pricier than the 2014-2016 average, on which the index baseline of 100 points is calculated. The May figure is the highest of any month in almost ten years.

Palm oil prices have been driving the increase in the index since the fourth quarter of 2020, but global cereal prices also showed a significant bump in the past months, together creating a level of food prices not seen in a decade.

Dry weather and production disruptions due to COVID-19 coupled with high global demand led to the depletion of palm oil inventories, in turn driving up prices. As transportation picked up again, biodiesel demand led to an increased need for soyoil. Both developments caused prices for vegetable oils to exceed the 2014-2016 average by almost 75 percent in May.

For cereals, strong demand from China increased prices, especially for sorghum, barley and corn. Worsening crop prospects in Latin America have also contributed to the increase in maize prices.

Speculation about whether the disruptions of the coronavirus pandemic would drive up food prices have been abound, but due to the COVID-related economic downturn and falling out-of-house demand, they actually decreased at the start of 2020, reaching a low one year ago.

According to the U.N., falling mineral oil prices also factored into the initial deterioration of food prices as many alternative fuels, which are made out of food stocks, saw demand fall. As the crisis wore on and some countries reopened at least temporarily, global demand and prices started to pick up again in the summer of 2020.

As the example of palm oil inventories shows, COVID-related disruptions (or those in which COVID-19 is a factor) do have the power to let prices trend upwards in the current market environment.

SOURCE:https://brandspurng.com/2021/06/11/food-over-27-more-expensive-2014-2016/