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 Phones › Xiaomi Overtakes Apple With 13% Market Share, 75% Upsurge In Shipments by postbox(op): 2:03pm On Nov 09, 2020 |
For the first time, Xiaomi overtook Apple as the brand with the third-highest number of global smartphone shipments in Q3 2020. Its shipments for the period were around 46 million, marking a 46% YoY increase and 75% QoQ increase. As a result, it took a 13% share of the market compared to Apple’s 11%. Apple’s shipments for the period totaled around 42 million, marking an 11% increase QoQ and a 7% drop YoY. Xiaomi excelled in China with shipments increasing by 8% YoY and 35% QoQ. Moreover, it experienced rapid expansion in new markets like Europe, MEA and LATAM at Huawei’s expense. In total, the top three smartphone brands (Samsung, Huawei and Xiaomi) sold around 177 million units in Q3 2020. Notably, though, Xiaomi was the only major OEM to post positive growth in China in Q3 2020. Compared to Q3 2019, the Chinese smartphone market declined by 14%. There was a slight QoQ growth, however, at 6%. According to the National Bureau of Statistics of China, the Chinese economy is on its way to recovery. In Q3 2020, it grew by 4.9% compared to a 6.8% contraction in Q1 and a mild 3.2% growth in Q2. However, domestic consumption remained relatively weak alongside a worsening unemployment rate. In September 2020, the jobless rate in the country’s urban areas increased by 0.2% while unemployment among college graduates rose by 4%. Apple’s iPhone 11 was the best-selling smartphone model in China during the quarter, with a 55% market share. But due to the postponement of iPhone 12’s debut, Apple sales volume overall dropped by 7% YoY. Huawei was the market leader in terms of market share, grabbing a 45% lead down from 46% in Q2 2020. Xiaomi posted significant growth, increasing its market share to 11% from 9% in Q2 2020. Of the top 10 best-selling smartphones in the country, seven had 5G capabilities, six of them being Huawei models. SOURCE:https://brandspurng.com/2020/11/09/xiaomi-overtakes-apple-with-13-market-share-75-upsurge-in-shipments/ |
| Politics › FG To Establish MRO, Aviation Leasing Company In Abuja by postbox(op): 9:44am On Nov 09, 2020 |
As part of its efforts to optimise business opportunities in the aviation industry, the Federal Government requested pre-qualified bidders to submit their bids in response to the Request for Proposals (RFP) for the establishment of an Aviation Leasing Company (ALC) and establishment of a Maintenance, Repair, and Overhaul (MRO) centre at the Nnamdi Azikiwe Airport, Abuja. According to the Federal Ministry of Aviation, these bidders were qualified having passed the Request for Qualification (RFQ) stage of the procurement process. The RFP submission deadline closed on Friday, October 30, 2020 and Tuesday, November 3, respectively. The evaluation of the bids has commenced after which the preferred bidders will be announced and invited for contract negotiations. Thereafter the Full Business Case will be developed and submitted to the Federal Executive Council for approval and subsequent agreements will be signed between the investors and the FG represented by the Ministry of Aviation. The Ministry said the objectives of the projects include curtailment of capital flight, easing the leasing process for domestic airlines, encouraging foreign investment (FI), enhancing technology transfer to Nigerians, improving aircraft maintenance turnaround time, localizing aircraft maintenance in compliance with regulation, and generally develop the aviation sector in the country. The ministry explained that there is no Aviation Leasing Company in Africa at the moment, as the existing ones are owned and run by major international lessors who are reluctant to lease aircraft to African airlines due to the perceived risks, principally revenue, maintenance and legal risks. SOURCE:https://brandspurng.com/2020/11/09/fg-to-establish-mro-aviation-leasing-company-in-abuja/
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| Phones › China Has Just Launched The ‘World’s First 6G Test Satellite’ Into Orbit by postbox(op): 9:30am On Nov 09, 2020 |
China successfully sent the world’s first 6G communications test satellite into orbit from Taiyuan Satellite Launch Center on November 6. The technology is expected to be over 100 times faster than 5G, enabling lossless transmission in space. The telecoms industry is still several years away from agreeing on 6G’s specifications, so it is not yet certain the tech being trialled will make it into the final standard. It involves the use of high-frequency terahertz waves to achieve data-transmission speeds many times faster than 5G is likely to be capable of. The satellite also carries technology which will be used for crop disaster monitoring and forest fire prevention. Samsung released a white paper entitled “The Next Hyper-Connected Experience for All.” outlining the company’s vision for the next generation communication system, namely 6G. The white paper covers various aspects related to 6G, including technical and societal megatrends, new services, requirements, candidate technologies and an expected timeline of standardization. Samsung’s vision for 6G is to bring the next hyper-connected experience to every corner of life. To accelerate research for 6G, Samsung Research, the advanced R&  hub within Samsung Electronics’ SET Business, founded its Advanced Communications Research Center in May of last year.Examples of 6G performance requirements are a peak data rate of 1,000 Gbps (gigabits per second) and air latency less than 100 microseconds (μs), 50 times the peak data rate and one-tenth the latency of 5G. SOURCE:https://brandspurng.com/2020/11/08/china-has-just-launched-the-worlds-first-6g-test-satellite-into-orbit/ 1 Like 2 Shares |
| Nairaland General › Banks That Open On Saturdays In Nigeria by postbox(op): 11:45am On Nov 07, 2020 |
We all know that Banks open from 8:00 am to 4:00 pm during normal workdays spanning from Monday to Friday but due to workload and servicing customers’ needs, a few banks are now operating during Saturdays. These banks include: 1. First Bank of Nigeria First bank being one of the oldest banks in existence in Nigeria tries to outpace its competitors and this can be seen in their weekend services. Majority of the selected branches that operate on Saturday also do so on Sundays. You can view the list of selected branches that offers these weekend services. 2. Fidelity BANK This bank has been operating the Saturdays service for over 5 years now trying to service the customers and there are 15 fidelity bank locations you can visit on Saturday and that includes three branches in kano and five of them in Lagos. The working hours on Saturdays are from 10:00 am to 2:00 pm. 3. First City Monument Bank The first city monument bank popularly known as FCMB is one in which its abbreviation seems to be well known than the full meaning of its abbreviation happens to be among the banks that usually open on weekends but due to the pandemic has suspended this operation. 4. United Bank of Africa A few years ago they announced that some of their most popular offices across Nigeria would be operating on Saturdays. These branches offer cash deposit, Funds transfer, Account opening , cash withdrawal, Atm services and Money Gram and Western union services. The list of branches are: Lagos Branches 810-811 Bank Road Daleko, Mushin 21 Fatai Atere Road, Mushin 9 Oremeji Street Computer Village, Ikeja Okokomaiko Business Office 21 bun Eko Street, Idumota East Branches 3A Cemetary Road Eziukwu Market, Aba 21 Faulks Road, Aba 32 Azikiwe Road, Diobu, Port Harcourt Ogbete Main Market, Enugu 65 Warri-Sapele Road, Warri, Delta Relief-Market 267 Obodo-Ukwu Road, Anambra North Branches 8 New Market Road off Biu Road, Gombe 3A, Fraqnce Road, Sabon Gari, Kano Rwangpam street, Jos Monday Market, PMB 1303, Maiduguri 31, Ado Bayero REoad, Kano Aliyu Jodi REoad, Sokoto 5. Polaris bank This bank opens popular branches on Saturdays and Sundays. On Saturdays, they provide banking services such as money deposit, account opening and money withdrawal while on Sundays, they only provide money transfer services. These banks are working around the clock to provide services for consumer needs and people can tap into these services to get things done on weekends. SOURCE:https://brandspurng.com/2020/11/06/banks-that-open-on-saturdays-in-nigeria/ |
| Education › NIPOST, WAEC Collaborate To Deliver Candidates’ Certificates by postbox(op): 11:22am On Nov 07, 2020 |
Nigeria Postal Services (NIPOST) and West African Examination Council (WAEC) will soon sign a deal that will see NIPOST delivering documents to schools and candidates’ certificates to their home addresses across the country. Mr. Patrick Ehidiamen Areghan, head of National Office, WAEC, disclosed in Abuja on Friday when he visited Dr. Ismail Adebayo Adewusi, postmaster general of the Federation/CEO NIPOST. According to Areghan, the purpose of the visit was to seek collaboration with NIPOST in the area of logistics such as using NIPOST’s locked up vans to deliver WAEC’s documents and candidates’ certificates. The yet-to-be-seal deal will also see NIPOST delivering WAEC’s certificates to Nigerians in their home or office addresses. This, according to the WAEC Chief, would afford candidates who sat for examinations in the past but have not collected their certificates opportunities to easily apply for their certificates and get them with ease wherever they reside with the aid of NIPOST delivery services. He particularly laid emphasis on collaborating with NIPOST in Cross River State where he said WAEC office was recently burnt by hoodlums protesting during the #EndSARS mayhem in Calabar. In his response, the Postmaster General of the Federation/CEO NIPOST commended WAEC for what he called its laudable achievements. The NIPOST boss further emphasized the imperative of NIPOST’s support to the education of the Nigerian child. To achieve this synergy, a six-man ad-hoc committee was set up to work out details of the deal. SOURCE:https://brandspurng.com/2020/11/07/nipost-waec-collaborate-to-deliver-candidates-certificates/
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| Politics › Ogun State Government signs MoU with Konexa Energy by postbox(op): 12:42pm On Nov 05, 2020 |
Ogun State Government signed MOU with Konexa Energy a reputable UK power firm, on an investment plan that will create jobs, aid Ibadan Electricity Distribution Company Plc (IBEDC)’s operations, alleviate poverty and ensure food security by supporting businesses in the State. The Ogun State Governor, Prince Dapo Abiodun with its team met with Konexa on January 2020 working trip to the UK and followed up on this Public-Private Partnership (PPP) that targets the total rehabilitation of the general, distribution and revenue parameters in the State. As the Nation’s industrial hub, Ogun State deserves improved ways to power hospitals, ICT, security, traffic control and so on. Already, the Ogun Government is the first to establish an Energy Board, even as the State has three power generation initiatives at different stages of completion and approval while developing solar projects for deployment to our 538 primary health centres, PHC. At the signing yesterday, the UK High Commission (Trade Department) and Ibadan Electricity Distribution Company, IBEDC were present as stakeholders in the 250MW Integrated Distribution Model that will power about 50,000 connections. #BuildingOurFutureTogether #ISEYA SOURCE:https://brandspurng.com/2020/11/05/ogun-state-government-signs-mou-with-konexa-energy/
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| Business › Ikeja Hotel Receives Occupancy Revocation, N1.4bn Loss In Q3 To Affect Dividend by postbox(op): 9:12am On Nov 04, 2020 |
Ikeja Hotel Plc has issued a statement via the Nigeria Stock Exchange (NSE) to its Shareholders on the unaudited group Accounts for the third quarter ended September 30, 2020. The Loss After Tax of N1.4 Billion recorded by the group in the Third Quarter Financial Statements was due to the continued effects of the COVID-19 pandemic on the hospitality sector and is likely to affect declaration of dividend for the year ended December 31, 2020. Ikeja Hotel Plc (the Company) is responding to these challenges in order to return the business to profitability. In addition, the Company received a letter dated October 15, 2020, from the Lagos State Government, purportedly revoking its right of occupancy on its land situated at Opebi Gorge, Ikeja, Lagos. The Company has taken legal action to contest this revocation. However, the revocation has the potential to impair the assets of the Group to the tune of N4. 63 Billion if the government succeeds. A peek into Q2 Results Ikeja Hotel Plc witnessed a decline in its earnings (N785m loss) for the first six months of the year, ended June 30, 2020. Ikeja Hotel recorded a 50% revenue decline of N2.9bn for the first six months of 2020 compared to the N5.8bn recorded in the first half of 2019. The coy recorded N177.4m as gross profit in the first half of the year as against N1.4bn recorded in the corresponding period of 2019, representing 87.7% drop. It also recorded a loss before tax of 777m in the first half of the year, compared to a profit of N341m in a similar period of 2019. More checks in the financial statements showed that the group recorded less revenue for rooms booked for the last six months. The results showed that the firm recorded N1.7bn for the first six months of 2020, against N3.5bn recorded in the first six months of the previous year. The NSE had in November 2016 suspended trading in the shares of the company “to safeguard the investments of shareholders of Ikeja Hotel Plc following the continued dispute between the major shareholders which had negatively impacted on the company’s governance structure”. Ikeja Hotel Plc was incorporated as Properties Development Limited (PDL) on November 18, 1972, with a view to providing world-class hotel and catering services to meet the needs of an ever-increasing number of local and international business and leisure travellers entering the city of Lagos. The Company’s name was later changed to Ikeja Hotel Limited in October 1980. It became a public company in 1983 and assumed its present name on February 5, 1991. The principal business of Ikeja Hotel Plc is the provision of services in the hospitality industry, including the development of other tourist facilities. It has continually expanded its participation in Nigeria’s hospitality industry through the development and acquisition of hotel and tourist facilities. Today, Ikeja Hotel boasts of direct or indirect ownership and control of three of Nigeria’s leading five-star hotels, namely, Sheraton Lagos Hotel, Sheraton Abuja Hotel, and Federal Palace Hotels & Casino. SOURCE:https://brandspurng.com/2020/11/04/ikeja-hotel-receives-occupancy-revocation-n1-4bn-loss-in-q3-to-affect-dividend-declaration/
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| Business › Banking Leaders Share Digital Transformation Fears by postbox(op): 11:51am On Nov 02, 2020 |
Speed of technological change and the ethical conundrums it raises top concerns of more than 300 senior executives in a new survey. As executives at leading banks grapple with the challenges of digital transformation, their biggest challenge may not be around the possibilities of the technology itself, but rather the ethical implications surrounding the use of customer data. The findings come from a survey by law firm Herbert Smith Freehills on the global banking industry, exploring what senior managers view as their biggest fears over the next three years. The survey is based on interviews with more than 300 senior executives at global banks. More than two-thirds of survey respondents (68%) said digital transformation was one of the biggest challenges they will face over the next three years. “Digital transformation is an incredibly wide-ranging and long-term process which is bringing to life many new challenges as well as opportunities,” says Alex Cravero, head of the digital law group at Herbert Smith Freehills. “Technology moves so quickly. It’s a constant and accelerating force that is impacting all kinds of organisations. In many instances, technology is outpacing regulation and law.” Data dilemmas Banks, like most large organisations, hold vast amounts of customer data. And fast-evolving technologies, such as artificial intelligence (AI) and blockchain, hold an array of dynamic possibilities for unlocking and monetising this data. However, the backlash over the way social media platforms and other groups have been utilising and manipulating customer data over the past couple of years makes this a particularly thorny ethical issue. “A balance has to be struck between law and regulation, which has always been a tricky area for organisations to navigate to the best of times,” Mr Cravero says. “The big challenge is how to unlock growth through the value of data effectively, whilst also maintaining the trust of the customer base,” Mr Cravero notes, adding that recent studies show that when people download an app, they typically decide whether they’re going to keep it or delete it in about 20 seconds. “It highlights the level of customer demands banks are having to work with at the moment, whilst maintaining customer trust. THE BIG CHALLENGE IS HOW TO UNLOCK GROWTH THROUGH THE VALUE OF DATA EFFECTIVELY, WHILST ALSO MAINTAINING THE TRUST OF THE CUSTOMER BASE. “You need to have responsible data collection, while at the same time capitalising on the benefits that these dynamic constantly developing technologies can bring.” Blockchain could provide financial services with a revolutionary type of centralised monitoring platform, but its promise is tempered by legal restrictions. The 2018 General Data Protection Regulation gives individuals control over their personal data, as well as the right to be forgotten creating obstacles to the large-scale holding and processing of data. AI, meanwhile, offers enormous potential to gain insight into data, but ethical questions quickly arise around how much right an organisation has to use that data, along with questions over what the data is being used for. Almost a quarter of the survey’s respondents (24%) view regulatory change as their biggest challenge in the next three years, while 15% said they viewed legal and regulatory red tape as a hindrance to digital transformation. Cultural changes The process of finding “the right balance” in an organisation typically involves installing digitally savvy leaders that can empower staff to work in new ways to better utilise new technologies, according to findings from Herbert Smith Freehills’s survey. “Delivering a digital data strategy on a day-to-day basis can involve completely changing the shape of the team. It may involve introducing cultural and behavioural changes in an organisation and the increased collaboration required has led to a rise in partnerships, joint ventures and acquisitions,” Mr Cravero says. “The development of the right [digital] talents and skills in a workforce is a really tricky challenge and requires continuous learning.” More than a third (39%) of senior banking executives said the greatest barrier to transforming their business is the absence of a digital mindset in their organisations, according to the report. “The opportunities promised by digital transformation are really significant — probably unparalleled. But unlocking those opportunities is really challenging because there are so many things to navigate in an ever-changing legal and regulatory environment. “It’s no surprise that banks are becoming concerned about what the future might look like and how they should go about addressing it,” Mr Cravero says. “It’s going to be an evolving process for all banking organisations going forward and planning at every organisation is going to be different. Ultimately, it’s down to individual banks to find out what works for them.” SOURCE:https://brandspurng.com/2020/11/02/banking-leaders-share-digital-transformation-fears/ |
| TV/Movies › Nigeria’s First Feature-length Animated Movie Set For December 11 Premiere by postbox(op): 2:14am On Nov 02, 2020 |
Nigeria’s first-ever feature-length animation film — Ladybuckit and the Motley Mopsters (LBMM) — is set to hit theatres on Friday, December 11, 2020. Hot Ticket Productions, the company behind the 3D movie, released an exciting one-minute teaser to whet the appetite of movie lovers ahead of its premiere. Most of the storyline is still being kept under wraps. However, the movie’s website reveals that it revolves around “a precocious, self-absorbed little girl who finds herself in wildly unfamiliar territory. There, she encounters a band of highly unusual characters who change the course of her destiny.” The teaser is raising even more questions. Who is the little boy trapped in a classroom? Is that Oloibiri (a historic community in Bayelsa state, Nigeria where crude oil was first discovered in commercial quantity in the 1950s? Are those old men playing draughts? Enthusiastic moviegoers will have all questions answered in December. The movie boasts of industry heavyweights such as Kalu Ikeagwu, Patrick Doyle, Bimbo Akintola, Bola Edwards, and others. It will also feature fresh voices of 11 and 13-year-old Jessica and David Edwards. The movie’s original 14-tracker album was developed by popular music producer and songwriter, Clement ‘DJ Klem’ Kponu and versatile film composer, Ava Momoh. Blessing Amidu, CEO/Founder of Hot Ticket Productions and the Executive Producer and Producer of the film, emphasised the need for an exhilarating family-focused movie to end a tough year: “Families have had to deal with a lot this year: from a global pandemic to civil unrest and economic challenges. As we approach the end of the year, it was important to provide some succour and means of escape and release, for children and the entire family. We strongly believe that Entertainment is a powerful tool for this.” Consulting Producer and respected Nigerian filmmaker, Chris Ihidero, shared his excitement stating that: “We wanted to give families the experience of a lifetime with Nigeria at its fore and I dare say, we achieved that.” Nigerian entertainment and media industry is estimated to hit the 10 billion-dollar mark by 2023. And Forbes has stated that African animation industry is fueling the emergence of a creative economy across the continent. It is hoped that with the release of Ladybuckit and the Motley Mopsters by Hot Ticket Productions, Nigeria will further cement its position as Africa’s leading film producer and a global force in creative storytelling and entertainment. SOURCE:https://brandspurng.com/2020/11/01/nigerias-first-feature-length-animated-movie-set-for-december-11-premiere-date/
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| Autos › Porsche Taycan Electrifies Dubai’s Burj Khalifa, The World’s Tallest Building by postbox(op): 6:39am On Oct 31, 2020 |
Porsche Middle East and Africa FZE officially kicked off its regional launch for the all-new Taycan with a special animation on the side of the Burj Khalifa in Dubai, the largest single display surface in the world. A visually exciting light show, covering a total area of 33,000 square metres, portrayed the brand’s most important milestones from the Lohner-Porsche revealed in 1900 to the cutting-edge Taycan. Standing at 828 metres high, the iconic tower is the tallest building in the world and provided a unique setting to announce the long-awaited arrival of Porsche’s first fully electric vehicle. One million LED lights at the Burj Khalifa Markus Peter, Marketing Director at Porsche Middle East and Africa FZE, added: “It was a very special moment watching more than one million LED lights turning the facade into one big screen to celebrate the start of the Taycan introduction in our region.” While the Taycan is the brand’s first fully electric model, Porsche has been at the forefront of electromobility for a long time. Today, plug-in hybrids present some of the most powerful flagship models in the brand’s range, such as the Cayenne Turbo S E-Hybrid or the new Panamera Turbo S E-Hybrid. With the launch of the new Taycan, Porsche presents its first-ever fully electric model, setting another important milestone for the successful future of the company. Rollout of the first three Taycan models in Middle East & Africa In the coming weeks and months, Porsche’s regional office based in Dubai will support its importers with the rollout of the first three Taycan models: the 4S, Turbo and Turbo S. The start of the launch phase follows a successful period of business for Porsche’s regional office in Dubai. With a healthy five per cent growth year-on-year, the organisation recently announced its best third-quarter results since 2015. SOURCE:https://brandspurng.com/2020/10/30/porsche-taycan-electrifies-dubais-burj-khalifa-the-worlds-tallest-building/
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| Politics › Lagos Govt To Begin Internship Programme For 4000 Unemployed Graduates by postbox(op): 8:43am On Oct 30, 2020 |
As part of efforts to reduce the rate of unemployment in Lagos State, Governor Babajide Sanwo-Olu has approved Internship Programme for 4,000 unemployed graduates in line with the T.H.E.M.E.S Agenda of the present administration and the Youth Development Programme of the State. Speaking recently on the programme with newsmen, the Honourable Commissioner for Wealth Creation and Employment, Mrs Yetunde Arobieke, said the Graduate Internship Placement Programme (GIPP) is designed to give candidates the opportunity to develop employability and work-ready skills that are needed in securing gainful employment. She added that the Internship Programme will be addressing the third and fourth pillars of the present administration’s T.H.E.M.E.S agenda, which are Education and Technology and Making Lagos a 21st Century Economy, while the beneficiaries will be paid a monthly stipend of N40,000 for the six months duration of the internship. Arobieke informed that at the end of the internship period, interns would have gained valuable applied work experience, built up their professional skills and would have been exposed to possible entrepreneurial opportunities to strengthen their professional skills and interpersonal relationship. The Commissioner, therefore, implored interested candidates to apply through the dedicated link for the programme, stressing that interested applicants must possess NYSC Certificates or letters of exemption, and must be registered residents of the State with Lagos State Residents Registration Agency, LASRRA. While informing that over 50 off-takers have shown interest in having the Interns work in their organisations, Arobieke maintained that the selection process will be transparent as successful candidates after taking an online test will be trained on employability skills for two weeks and evaluated; they will, subsequently, be placed on six months paid Internship with Private organisations and selected Public Agencies in line with their qualifications. SOURCE:https://brandspurng.com/2020/10/29/lagos-govt-to-begin-internship-programme-for-4000-unemployed-graduates/
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| Politics › Curfew Imposed On Jalingo And Wukari Relaxed By Government by postbox(op): 12:20pm On Oct 28, 2020 |
The Taraba state government has relaxed the 24-hour curfew imposed on Jalingo, the state capital and Wukari local government area. This was disclosed in a press release signed by the Senior Special Assistant to the Deputy Governor on New Media, Musleem Aruwa. It states that the state deputy governor, His Excellency, Engr. Haruna Manu said the curfew now runs from 6:00 pm to 7:00 am until further notice. It states that Government will continue to monitor the situation until normalcy is restored completely and law-abiding citizens can go about their legitimate businesses as government and other security agencies have adopted tougher safeguards to protect lives and property. However, persons with useful information on the criminal elements in our midst, especially those involved in the recent looting should kindly tip the security agencies nearest to them. Similarly, those who took part in the shameful looting of public and private property should return such items to their ward heads, Village/Districts heads or the local government chairmen as these categories of leaders have been directed to collate these looted items for safekeeping so that they can be returned to government and other private businesses affected. SOURCE:https://brandspurng.com/2020/10/28/curfew-imposed-on-jalingo-and-wukari-relaxed-by-government/
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| Career › Tackling Youth Unemployment With 300,000 New Job And Training Opportunities by postbox(op): 9:59am On Oct 28, 2020 |
The COVID-19 pandemic has had a huge impact on society and especially on young people. Youth unemployment is again on the rise. In the Middle East and North Africa for example, almost one out of three young people is unemployed. Efforts are needed now more than ever to support young people and avoid a ‘lockdown generation’. Against this backdrop, Nestlé and the Alliance for Youth announced that they will create 300 000 new job and training opportunities for young people across Europe, the Middle East and North Africa by 2025. Despite the pandemic, Nestlé and its 300 alliance partners are committed to continuing their efforts to provide young people with their first jobs, apprenticeships and traineeships. Moreover, the Alliance for YOUth also wants to equip the young generation with the right digital and green skills to shape the society of tomorrow. Speaking at the Alliance for YOUth online event, Nicolas Schmit, European Commissioner for Jobs and Social Rights said: “The Alliance for YOUth initiative is a model of business cooperation that others can take inspiration from, having already exceeded its original target of offers.” Today’s commitment follows on from the more than 450 000 jobs and training opportunities the alliance has created since its launch in 2014. Nestlé has implemented the goals of the alliance under its own initiative – Nestlé needs Youth. Its main objectives are to create job and training opportunities for young people and to support young farmers in scaling up sustainable agriculture practices. It also helps young people build digital skills and become more entrepreneurial, preparing them to deal with topics like climate change and digital transformation. By 2025, Nestlé will create 20 000 jobs as well as 20 000 apprenticeship and traineeship opportunities. https://www.youtube.com/watch?v=GnFBpmvYqDg SOURCE:https://brandspurng.com/2020/10/27/tackling-youth-unemployment-with-300-000-new-job-and-training-opportunities/
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| Business › Stakeholders Discuss Possible Solutions To Food Insecurity And Trade Challenges by postbox(op): 3:19pm On Oct 27, 2020 |
On 29 September, the National Action Committee on the African Continental Free Trade Area (AfCFTA) held a virtual workshop on Agriculture and Agribusiness. The workshop brought together notable professionals in the agricultural sector to discuss sustainable solutions to the challenges of food insecurity and trade in Nigeria and Africa. AfCFTA was created to expand intra-African trade and enhance competitiveness at the industry and enterprise levels by taking advantage of opportunities for scale production, continental market access, and better reallocation of resources. The National Action Committee on AfCFTA was set up to develop Nigeria’s strategy and mobilize all relevant public and private sector actors to implement interventions that will prepare Nigerian businesses for the AfCFTA. Agriculture is a priority sector in Africa, being a key driver for economic diversification. In Nigeria, agriculture remains the largest employer of labor, providing jobs for one-third of the population. “In the first quarter of 2020, agriculture contributed 21.69% of Nigeria’s GDP,” said Alhaji Muhammad Sabo Nanono, Honorable Minister, Ministry of Agriculture and Rural Development. Smallholder farmers account for 60–70% of production, and the program plans to provide mechanization services to these farmers for improved production, which will, in turn, improve the country’s economy. In charting a way forward for the nation, the professionals discussed limiting factors in agriculture and trade in Nigeria. Toda Atsuko, representing Dr Adesina Akinwumi, President of African Development Bank (AfDB), identified some of the challenges limiting Africa’s agriculture from meeting up with its growing population, including low agricultural productivity and high cost of production. “Intra-African trade is growing but dominated by Southern and Eastern Africa; Nigeria needs to join in,” she said. Atsuko also mentioned that half of African trade is dominated by processed foods. Kwesi Atta-Krah, IITA Director of Advocacy and Country Alignment, stated that Africa needs to find ways to increase agricultural production, fair trade, and investment. “Transformation must begin from the mind, with us seeing agriculture as a business and job creation area,” he said. Using IITA as an example, Atta-Krah explained that agriculture should not only be research-based but should also involve delivery. “Using a model of research mobilization to agribusiness, IITA has been providing jobs, especially for youth in agriculture through the IITA Youth Agripreneurs (IYA) program, Young Africa Works (YAW) in partnership with MasterCard, and the Start Them Early Program (STEP).“ Discussing the opportunities available in agriculture for Nigeria and Africa at large, and how to leverage them to scale production and trade, Otunba Adebayo Adeniyi, Honorable Minister, Ministry of Industry, Trade and Investment, mentioned that Nigeria is at an advantage because its market is a target for all countries of Africa, being the largest economy in the Continent. HE Abubakar Atiku Bagudu, Governor of Kebbi State and Vice Chairman of the Food Security Council, mentioned that agriculture could be used to seal the free-trade agreement in Africa since it is a continent with many food-insecure people. Aside from general farming, some specific aspects of agriculture were analyzed, including poultry and fishery. Implementation of the conclusions drawn from these discussions will result in an agricultural revolution that will strengthen security, improve the skills of farmers and the economy, as well as increase mechanised agriculture across Nigeria. SOURCE:https://brandspurng.com/2020/10/27/agriculture-stakeholders-discuss-possible-solutions-to-food-insecurity-and-trade-challenges-in-nigeria/
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| Agriculture › IITA BIP And Partners Host Virtual Vegetable Field Day For Farmers by postbox(op): 9:59am On Oct 27, 2020 |
Vegetables are one of the most consumed foods worldwide because of their high nutritional value. Although the vegetable business is profitable, vegetable farmers usually face challenges accessing quality seed, knowledge of good agronomic practices, and markets. In resolving these challenges, the IITA Business Incubation Platform (BIP), in conjunction with Rijk Zwaan and Seedforth Agro, hosted a virtual Vegetable Field Day on 30 September. The aim was to showcase vegetables and their market potential to farmers and equip them with knowledge on crop management practices, and where to source for quality seeds. The event brought together breeders, agronomists, and agribusiness specialists from host organizations who shared with farmers advice ranging from markets, use of quality seed, good agronomic practices, and dealing with pests and diseases. Clement Onoja, Business Development Manager, Seedforth Agro, enlightened participants on good crop management strategies for selected vegetables including how to detect and manage plant viral and bacterial diseases. In her input on good agronomic practices, Miriam Samekpolo, IITA BIP vegetable team lead, advised farmers that choosing good seed, good soil, and setting up a greenhouse would aid maximum productivity in vegetable farming. Eugene Agricolo of Rijk Zwaan, Agricolo spoke on the general procedure for raising good seedlings. “Raising seedlings/nursery involves making a good bed, using organic manure, having a good planting material, and good dedication to the plants for good production,” he said. The vegetable field day happens every year and is hosted by IITA BIP. Participants are taken on a tour of the greenhouse where vegetables are planted, and the field where crops are showcased. This year’s demonstration was virtual with a live video from the greenhouse and open field at IITA. Vegetables, including tomato, cucumber, bell pepper, sweet pepper, and cabbage were showcased. SOURCE:https://brandspurng.com/2020/10/27/iita-bip-and-partners-host-virtual-vegetable-field-day-for-farmers/
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| Politics › How To Apply For Kwara State N500m SME Funds by postbox(op): 8:55am On Oct 27, 2020 |
The Governor of Kwara State Abdulrahman Abdulrasaq tweeted that he visited the sites of some of the businesses that were looted by hoodlum and what he saw was disheartening. He stated that he would help the owners of these businesses get back on their feet and he has set up N500m fund that they can apply for. Those eligible to apply are businesses that were victims of the recent looting and robbery that took place in major commercial areas in Ilorin, Kwara State. You can apply for the fund by clicking Kwara State Government SME Recovery Fund Grant Application Form https://docs.google.com/forms/d/e/1FAIpQLSd5BoYxWs9QsU7HwG0a8oRQn9nqNW31vWm0yD9OeBr8ZO3OeA/viewform These are the information required in order to submit the form: Email address First Name Last Name Phone Number Name of Business Address of Business Local Government Business Location OWNERSHIP (Rent or Lease, Fully owned Property Number of Employees Monthly Business Turnover Estimated Amount of Loss in Stolen Goods Estimated Amount of loss in stolen Furniture & equipment Estimated Amount of damaged property Photos/Video of Damage CAC REGISTRATION NUMBER Sector (Industry) Are you a beneficiary of KWASIP (Kwara Social Investment Programme)? Bank Name Bank account name Bank Account Number This information is needed in order to verify how valid your claims are about being looted and also you can’t successfully apply without filling the application form that shows you are actually in need of the relief from Kwara State government. While some bigger brands in Nigeria may have insured their stores, since this isn’t the first time shops, malls, stores are getting looted. Small businesses in Nigeria may not have the same luxury. If funds are appropriated properly, this will go a long way in cushioning the effect of the looting on small business owners. SOURCE:https://brandspurng.com/2020/10/26/how-to-apply-for-kwara-state-n500m-sme-funds/
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| Business › Panasonic Becomes The First Japanese Company To Ship 200billion Dry Batteries by postbox(op): 3:19pm On Oct 26, 2020 |
Panasonic’s Global Dry Battery Shipments Top 200 Billion Panasonic has become the first Japanese company to achieve this milestone Panasonic Corporation has announced that as of the end of September 2020, it became the first Japanese company to ship a cumulative total of 200 billion dry batteries worldwide after achieving the 100 billion milestones in 2001 since the start of in-house production of dry cells in 1931. Panasonic started manufacturing dry batteries in 1931 to promote the widespread use of its square-type handheld battery-powered lamp, the first product under the National brand. In 1939, the company, a pioneer of overseas factory expansion, established its first production site outside of Japan in Shanghai. Since then, Panasonic has opened factories in several countries including Thailand, Peru, Costa Rica, Brazil, Belgium, India, Indonesia, and Poland, producing a cumulative total of approximately 150 billion dry batteries overseas. Along the way, the company has contributed to improving the quality of life of people and promoting industries in these countries. Commenting on the achievement, Koji Hatanaka – General Manager, Panasonic Marketing Middle East and Africa (PMMAF) said, “Panasonic’s dry battery brands like EVOLTA and EVOLTA NEO are among the best alkaline batteries and have set the Guinness World Record for longest-lasting AA alkaline batteries for 13 consecutive years. Our dry battery products make energy portability possible in remote areas of the world, assist in natural disasters and offer trusted performance for our customers, and reaching 200 billion shipments is a proof of trust our partners and customers put in us. Panasonic will continue to contribute to achieving a better life by globally supplying high-quality and safe dry batteries.” The progress of dry batteries is closely related to the devices that use them. Panasonic’s dry batteries have a superb track record in quality and performance. In 2008, Panasonic released EVOLTA alkaline dry batteries, which achieved the expiry date of 10 years, an industry first in Japan. EVOLTA NEO alkaline dry batteries were released in 2017, which when compared with the conventional EVOLTA, feature a superior long-lasting performance after long-term storage, approximately 30% less gas build-up after over-discharge, and approximately 10% longer life, thereby realizing dry batteries that are safer and last even longer. Since its release in 2008, EVOLTA, and EVOLTA NEO after 2017, have been recognised as the longest-lasting AA alkaline batteries by the Guinness World Records, with the latest recognition on August 17 this year for 2020, the 13th consecutive year. To promote the longest-lasting performance of the EVOLTA series recognised by the Guinness World Records, Panasonic held an “EVOLTA challenge” event every year from 2008 to 2019, taking up a variety of challenges using EVOLTA and EVOLTA NEO. Panasonic has set four Guinness World Records through these challenges. In the future, Panasonic will enhance sales mainly in the Asia and Latin America markets, which are expected to have high demand growth for dry batteries. Panasonic enjoys high brand recognition in these regions, where high-performance alkaline dry batteries are expected to replace manganese batteries. Taking advantage of such market shift, Panasonic will proactively supply high-performance, high-quality alkaline dry batteries centred on the EVOLTA series, which the company has developed over the years, to achieve business growth. In sales promotion activities in overseas markets, mainly in Asia and Latin America, the company’s advertisement will feature Panasonic LEO, an original mascot for overseas symbolizing the “long-lasting,” “contribution,” and “familiarity” attributes of its dry batteries, aiming to establish the brand image of Panasonic as a provider of high-quality, safe and secure batteries. SOURCE:https://brandspurng.com/2020/10/26/panasonic-becomes-the-first-japanese-company-to-ship-200billion-dry-batteries/
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| Business › Lafarge Africa Records 37% Rise In Q3 Profit by postbox(op): 1:16pm On Oct 26, 2020 |
Lafarge Africa, a cement maker, recorded a strong net income growth in the first nine months of 2020. The company posted a 37 percent surge in net profit year-on-year at N28.19 billion in its third quarter results for the period ended September 30. The cement maker’s revenue increased 10 percent from N163 billion in the third quarter in 2019 to N171 billion in same period in 2020. Operating profit grew by 15.7 percent from N35.5 billion in 2019 to N41 billion in 2020. Profit before tax (PBT) from continuing operations grew by 70.34 percent from N20.1 billion in 2019 to N34.2 billion in 2020. On a quarterly basis, revenue also increased 31.34 percent from N45.1 billion in 2019 to N59.3 billion in 2020, however, the bottom line was flat at N4 billion, on the back of mounting cost of sales and admin expenses. The cement maker noted that continues to prioritise the health and safety of its employees, while supporting our partners and communities in third-quarter results for the period ended September 30. Khaled El Dokani, CEO of Lafarge Africa Plc stated: “Our robust results for the first 9 months reflect the strong recovery of the demand in Q3 and the successful implementation of our “HEALTH, COST & CASH” initiatives. Both have delivered a considerable improvement in recurring EBIT, net income and free cash flow, despite the impact of the COVID-19 pandemic and Naira devaluation, particularly in Q3.” OUTLOOK *Market demand is expected to remain strong in Q4. *Naira devaluation and inflation remain a concern in Q4. *The implementation of our “HEALTH, COST & CASH” initiatives would continue to deliver improvement in our performance. *We will maintain a healthy balance sheet. Lafarge Africa Plc, a leading Sub-Saharan Africa building materials company is a subsidiary of LafargeHolcim, a world leader in building materials. Listed on the Nigerian Stock Exchange, Lafarge Africa is actively participating in the urbanisation and economic growth of Nigeria, the largest economy in Africa. Lafarge Africa has the widest footprint in Nigeria with cement operations in the South West (Ewekoro and Sagamu in Ogun State), North East (Ashaka, in Gombe State), South East (Mfamosing, Cross Rivers State) with Ready-Mix operations in Lagos, Abuja and Port Harcourt. Lafarge Africa has a current installed cement production capacity of 10.5Mtpa. Lafarge Africa leverages its innovative expertise to provide value-added products and services solutions in the building and construction industry in Nigeria. SOURCE:https://brandspurng.com/2020/10/26/lafarge-africa-records-37-rise-in-q3-profit/
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| Business › MTN Nigeria Appoints Karl Toriola As CEO by postbox(op): 1:06pm On Oct 26, 2020 |
MTN Nigeria is pleased to inform The Nigerian Stock Exchange (The Exchange), the investing public and other stakeholders of the appointment of Mr. Karl Toriola as the CEO designate. His appointment is effective 1st March 2021, providing enough time for an orderly handover. Mr. Toriola is currently the Vice President: West and Central Africa (WECA), excluding Nigeria and Ghana, a position he assumed in 2016. During that period, he has overseen the steady progress of the operating companies in the region, notably the turnaround of MTN Ivory Coast and MTN Cameroon. Recently, Karl Toriola increased his stake in MTN Nigeria with the purchase 920,000 ordinary shares, as disclosed on the Nigeria Stock Exchange platform. A break down of the aggregate information showed Toriola acquired 920,000 ordinary shares at N118 per share on June 25, 2020, in Lagos, Nigeria. Accordingly, the total purchase stood at 920,000 shares valued at N108,560,000. Brief Profile During his tenure, the WECA markets have made significant commercial and strategic strides. These include the improvement of market shares within the region and the development of mobile financial services. Since joining the Group in 2006, Mr. Toriola has also held a number of senior operational roles including Chief Technical Officer of MTN Nigeria, CEO of MTN Cameroon and MTN Group Operations Executive. Mr. Toriola has at various times in his career in MTN Group, had oversight responsibility of 16 of the Group subsidiaries and serves on various MTN boards, including MTN Nigeria. Mr. Toriola obtained a Bachelor of Science in Electronic and Electrical Engineering from the University of Ife, a Master of Science degree in Communication Systems from the University of Wales, and attended the General Management Program at Harvard Business School. In addition, he has attended several executive development courses at various institutions including Wharton Business School, Institute of Management Development and London Business School. SOURCE:https://brandspurng.com/2020/10/26/mtn-nigeria-appoints-karl-toriola-as-ceo/
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| Autos › New Investor Takes Over Peugeot, To Inject $150m by postbox(op): 6:18am On Oct 22, 2020 |
Peugeot Automobile Nigeria (PAN) has been taken over by a new investor, NESBITT Investment Nigeria Limited. NESBITT Investment Nigeria Limited also assured that it will inject $150 million in the company in the next three years. It said the fund would be invested in retooling and upgrading the Peugeot’s assembly line, as well as support infrastructure and working capital. Speaking at the ceremony in Kaduna, the new chairman, Ahmed Aliyu, assured that the firm would soon roll out new and affordable vehicles for Nigerians. He lamented that in 2019 alone, Nigeria imported not less than 400,000 used cars (popularly known as Tokunbo), as against the 68,000 brand new ones that came in. Against this backdrop, Aliyu said the company would re-launch brand affordability in the country to allow the citizens to buy brand new vehicles. The chairman assured of a robust car-financing scheme to be run in partnership with dealers and selected banks. SOURCE:https://brandspurng.com/2020/10/21/new-investor-takes-over-peugeot-to-inject-150m/
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| Politics › FG offers free business registration for 250,000 MSMEs by postbox(op): 7:43am On Oct 20, 2020 |
The Federal Government says it has offered free business registration for 250,000 Micro, Small and Medium Enterprises (MSMEs) nationwide under its recently launched Survival Fund Scheme.https://brandspurng.com/2020/10/19/fg-offers-free-business-registration-for-250000-msmes/ 11 Likes 3 Shares
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| Politics › Government Expecting One Million MT Steel From $1.5 Billion Steel Plant by postbox(op): 7:26am On Oct 20, 2020 |
The Federal Government has said that the $1.5bn steel plant that is nearing completion in Kaduna State will attract automobile industries to Nigeria when completed.https://brandspurng.com/2020/10/19/govt-expecting-one-million-mt-steel-from-1-5bn-steel-plant/ 5 Likes
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| Business › Cost Of Refiling 12.5 Kg Cooking Gas Cylinder Falls In September – NBS by postbox(op): 7:14am On Oct 20, 2020 |
The average price for the refilling of a 12.5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) decreased by -0.63% month-on-month and by -0.32% year-on-year to N4,110.92 in September 2020 from N4,136.80 in August 2020, the National Bureau of Statistics (NBS) said in its report on Tuesday. However, the refilling of the 12.5 Kg cylinder cost more in states like Akwa Ibom (N4,554.44), Bayelsa (N4,535.00) and Cross River (N4,470.56), according to the report. “States with the lowest average price for the refilling of a 12.5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Kano (N3,654.00), Oyo (N3,758.93) and Imo (N3,768.75).” The report showed that the average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas decreased by -0.23% month-on-month and by -0.07% year-on-year to N1974.67 in September 2020 from N1979.15 in August 2020. “States with the highest average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Bauchi (N2,487.37), Borno (N2,391.96) and Adamawa (N2,368.41).” “States with the lowest average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas were Imo (N1,644.44), Ebonyi (N1,693.86) and Enugu (N1,705.45).” SOURCE:https://brandspurng.com/2020/10/19/cost-of-refiling-12-5-kg-cooking-gas-cylinder-falls-in-september-nbs/
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| Travel › Average Transport Fare For Bus Journey Rose By 7.92 Per Cent In September – NBS by postbox(op): 10:19am On Oct 19, 2020 |
The latest data released by the National Bureau of Statistics (NBS) revealed that the average transport fare for bus journey within cities in the country increased by 7.92 percent, month-on-month, in September 2020. The NBS Transport Fare Watch report for August 2020, which was released on October 16, 2020, covers the following categories namely bus journey within the city per drop constant route; bus journey intercity, state route, charge per person; airfare charge for specified routes single journey; journey by motorcycle (Okada) per drop; and waterway passenger transport. According to the report, the average fare paid by commuters for bus journey within the city increased by 7.92% month-on-month and by 63.88% year-on-year to N309.73 in September 2020 from N286.99 in August 2020. The NBS further reported that, in the period under review, states with the highest bus journey fare within the city were Zamfara (N579.84), Bauchi (N492.14) and Cross River (N416.32). On the other hand, states with the lowest bus journey fare within the city were Abia (N188.50), Kebbi (N192.48) and Borno (N200.80). Also, average fare paid by commuters for bus journey intercity increased by 0.36% month-on-month and by 24.30% year-on-year to N2,022.70 in September 2020 from N2,015.50 in August 2020. States that recorded the highest bus journey fare intercity were Abuja FCT (N4,315.22), Lagos (N3,073.25) and Sokoto (N3,000.00) while States with lowest bus journey fare within city were Kwara (N223.45), Benue (N274.64) and Ondo (N291.07). Also, average fare paid by air passengers for specified routes single journey decreased by -4.59% month-on-month and increased by 20.60% year-on-year to N36,884.59 in September 2020 from N38,659.86 in August 2020. NBS data shows that states with highest air fare were Lagos (N39,750.00), Rivers (N39,520.00), Anambra (N38,950.00) while States with lowest airfare were Akwa Ibom (N32,500.00), Sokoto (N33,700.00), and Benue (N35,000.00). The NBS also reported an increase in the fare paid by commuters for the journey by motorcycle (Okada). Transport fare for journey by motorcycle per drop increased by 10.47% month-on-month and by 111.11% year-on-year to N255.51 in September 2020 from N231.29 in August 2020. States with highest journey fare by motorcycle per drop were Niger (N1,467.49), Kogi (N362.47) and Rivers (N345.80) while states with lowest journey fare by motorcycle per drop were Adamawa (N76.55), Katsina (N100.84) and Kebbi (N125.60). In the same vein, the average fare paid by passengers for water-way passenger transport increased by 7.06% month-on-month and by 34.13% year-on-year to N734.26 in September 2020 from N685.82 in August 2020. States with highest fare by waterway passenger transport were Bayelsa (N2,250.23), Rivers (N2,200.64) and Delta (N2,150.30) while states with the lowest fare by waterway passenger transport were Borno (N200.48), Gombe (N264.29) and Abuja FCT (N294.10). The NBS explained that fieldwork for the report was carried out by over 700 staff in all states of the federation, supported by supervisors who were monitored by internal and external observers. Prices were collected across all the 774 local governments across all states and the FCT from over 10,000 respondents and locations, according to the Bureau. SOURCE:https://brandspurng.com/2020/10/18/average-transport-fare-for-bus-journey-rose-by-7-92-per-cent-in-september-nbs%e2%80%8e/
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| Politics › 10,000 Youths, Women To Benefit From Skill Development, Ogun Govt Says by postbox(op): 9:40am On Oct 16, 2020 |
More than 10,000 youths and women have been selected to be trained adequately on literacy and skill development to improve their standard of living. The Special Adviser to the Ogun State Governor on Primary and Secondary Education, Mrs Ronke Soyombo made this known during the submission of final reports on Science Technology Engineering Mathematics Teachers’ Survey and Activities in Non-formal Skills sector, at Oke-Mosan, Abeokuta. Soyombo while appreciating the Consultants on Skill Development for their doggedness, excellent performance and professional display, said the report they would lead the State into the right direction. She promised that the State government would think outside the box to implement the recommendations. “I want us to look critically into the reports, use it to improve the standard of what we have been having, this will automatically improve the standard in all our schools from the primary to the tertiary institutions, including the Agency for Mass Education,” she said. The Permanent Secretary, Ministry of Education, Science and Technology, Mrs Abosede Ogunleye commended the consultants for their diligence and for the recommendations that are capable of getting the best for the State when it comes to standard, promising to effect its implementation after critical analysis. While commenting, the Project Coordinator, Ogun State Transformation Economic Projects (OGSTEP), Engr Oluwatosin Jokosenumi applauded the consulting firms for a job well done and the World Bank for aligning with the vision of the government to improve the lives and standard of the people of the State. In her remarks, the Project Manager for World Bank in the State, Miss Olaitan Oduwaiye pointed out that submission of the reports was just the first level to accomplish the project, adding that they would not rest in their oars to ensure that the implementation would be properly done and delivered during the time frame given to them. Contributing, the representatives of the consultant firms, Hanovia Limited and BDO Consulting Management, Mr Gbenga Adedayo and Dr Joseph Olagbaju, respectively, who thanked the present administration in the State for prioritising education and level of support received which has made the assignment successful, said Ogun State could become the best in STEM-related activities and the non-formal sector, if the recommendations were given proper implementation. SOURCE:https://brandspurng.com/2020/10/16/10000-youths-women-to-benefit-from-skill-development-ogun-govt-says/
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| Health › World Bank Approves $12 Billion For COVID-19 Vaccines by postbox(op): 12:18pm On Oct 15, 2020 |
The World Bank’s Board of Executive Directors today approved an envelope of $12 billion for developing countries to finance the purchase and distribution of COVID-19 vaccines, tests, and treatments for their citizens. The financing, which aims to support vaccination of up to a billion people, is part of an overall World Bank Group (WBG) package of up to $160 billion through June 2021 to help developing countries fight the COVID-19 pandemic. It adds new financing to the World Bank’s COVID-19 emergency response programs that are already reaching 111 countries. This financing package helps signal to the research and pharmaceutical industry that citizens in developing countries also need access to safe and effective COVID-19 vaccines. It will also provide financing and technical support so that developing countries can prepare for deploying vaccines at scale, in coordination with international partners. In implementing the program, the World Bank will support multilateral efforts currently led by WHO and COVAX. “We are extending and expanding our fast-track approach to address the COVID emergency so that developing countries have fair and equal access to vaccines,” said World Bank Group President David Malpass. “Access to safe and effective vaccines and strengthened delivery systems are key to alter the course of the pandemic and help countries experiencing catastrophic economic and fiscal impacts move toward a resilient recovery.” Developing countries will have different ways to acquire and deliver approved COVID-19 vaccines. The approach draws on the WBG’s significant expertise in supporting large scale immunization programs for vaccine-preventable diseases, as well as public health programs to tackle infectious diseases such as HIV, tuberculosis, malaria and neglected tropical diseases. In addition to purchasing COVID-19 vaccines, the WBG financing will also support countries to access to COVID-19 tests and treatments and expand immunization capacity to help health systems deploy the vaccines effectively. This includes supply chain and logistics management for vaccine storage handling, trained vaccinators, and large-scale communication and outreach campaigns to reach communities and households. The new financing builds on the broader World Bank health program, which focuses on strengthening the health systems and health service delivery. The Bank’s robust network of technical advice and implementation support capacity, already working on the ground in many developing countries with partner agencies, will help to further strengthen these systems. SOURCE:https://brandspurng.com/2020/10/15/world-bank-approves-12-billion-for-covid-19-vaccines/
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