Indications have emerged that Konga SME Connect, a business empowerment conference, to be hosted by the e-Commerce giant, may witness a record-breaking attendance, if feelers from sources within the company are anything to go by.
Konga SME Connectis scheduled to hold on Thursday, May 20, 2021, by 10 am.
Within two hours of the event registration link going public, investigations reveal that over 5,000 had registered to attend the session, with the figures expected to rise further as the countdown to the much-anticipated conference intensifies.
Findings show that Nigerians in the Diaspora are already bombarding Konga for not considering those of them in Canada, the US and other parts of the world. Subsequently, this has led to Konga adjusting its registration portal to accommodate global registration.
The development has raised prospects of Konga entering the Guinness Book of Records for a first-ever record-breaking virtual event on this side of the Atlantic.
Also, the excitement for the event has taken on an added dimension, with news emerging that the management of Konga is considering putting up some special deals for attendees. The exclusive offer, details of which is yet to be disclosed, may see some lucky participants go home with either outrageously discounted products/items or other mouth-watering incentives from Konga.
Konga SME Connect will see Africa’s leading digital disruptor, Leo Stan Ekeh, deliver incisive business success guides and useful tips for creating new wealth in the digital age, especially in the face of the encumbrances posed by the COVID-19 which has hobbled businesses across the world and in Nigeria.
The Zinox Chairman, who has been confirmed as the keynote speaker, has acquired a global reputation as a foremost entrepreneur who is on record to have built arguably Africa’s biggest 360-degree ICT group, despite starting out from humble beginnings.
Among the expected participants in the keenly-anticipated session are representatives of large corporate organizations, players in the SME segment of the Nigerian economy and other business owners; new, existing and prospective merchants on the Konga platform and unemployed youth.
Attendances are also expected from Nigerians and other nationals from other parts of the world, including budding entrepreneurs and students.
Interested participants are expected to register for the event via the link: bit.ly/kongasmeconnect
UAC Foods Limited, makers of Gala, has announced the launch of two new variants of its well-loved beef sausage roll – Gala Spicy and Gala Classic. The new product variants, which come in a bigger 100gram size, have been carefully formulated to enrich the Nigerian snacking experience, on the go.
These new variants are crafted to deliver more value, the new Gala Spicy and Gala Classic variants come in a bigger size, offering more spice and beef filling at N100 only.
(L-R) Oluitan Mofiyin, Brand Manager, Snacks, UAC Plc; Adebola Williams, General Manager, Marketing, UAC Plc; Mrs Roseline Nwana, Lagos Distributor; Chris Towoju, General Manager ,Sales, UAC Plc; and Mrs Agnes Okuakwa, Lagos Distributor, at the launch of the new Gala Spicy and Gala Classic variants in Lagos. | Brand Spur
For existing and new beef roll fans, the all-time Nigerian favourite snack launches its Gala Spicy and Classic variants at N100. The Gala Spicy sausage roll is enhanced with extra flavour and spice (pepper) to match Nigerians’ love for delicious spicy food and snacks.
The Gala Classic is a remake of the old Gala classic sausage roll, offering more in the beef filling, taste and size, and giving consumers more value at a great price.
(L-R) Oluitan Mofiyin, Brand Manager, Snacks, UAC Plc; Adebola Williams, General Manager, Marketing, UAC Plc; Chris Towoju, General Manager, Sales, UAC Plc; and Ajoke Aunmonu, Brand Manager Beverage and Dairies, UAC Plc; during the launch of the new Gala variants – Gala Spicy and Gala Classic – in Lagos. | Brand Spur
Dele Ajayi, Managing Director of UAC Foods Ltd, commenting on the product launch, said
“UAC Foods Limited has been a partner to the Nigerian diet for over fifty years, offering nutritional products that enrich the Nigerian lifestyle. The launch of our Gala Classic and Gala Spicy variants is no different. Our commitment is to deliver great value at a great price to our consumers. I am certain that our consumers will enjoy the tasty experience of the new Gala Spicy and Gala Classic”.
Gala is a leader in the sausage roll category in Nigeria. Satisfying Nigeria’s hunger since 1962, Gala beef sausage roll is trusted by millions of Nigerians to provide the fuel required to keep going at great value for money.
The continued sharp increases in food price inflation from 3.4 percent in 2019, to 4.6 percent in 2020 and to an estimated 5.4 percent in 2021, remains a concern in South Africa.
This is due to its inflationary role in the general Consumer Price Inflation (CPI), and its potential to exacerbate the ongoing economic and social impact of COVID-19, especially with regard to food security in poor households.
Some of the drivers of food price inflationare state-administered electricity tariff increases (+15 percent); increases in minimum wages (+16 percent); allegations of excessive price increases by some retailers; and changing consumer shopping trends.
Photo by SWISS IM&H
South Africa has also been impacted by higher crude oil prices (+30 percent in 2021) and international commodity prices such as sunflower oil, grains, and meat. While Post expects that U.S agricultural exports may rebound in 2021, the increase in food inflation may compound the challenges being faced by U.S. agricultural exports.
South African Food Inflation and Consumer Price Index (CPI)
*Estimate based on year-to-date figures up to February 2021. Source: Statistics South Africa, National Agricultural Marketing Council (NAMC)
Key Drivers of Food Inflation in 2020 and 2021
The sharp increase in food inflation is due to both international and domestic factors. Domestic factors that have contributed to the rise in prices are the increases in food production costs, mainly due to the state-administered electricity tariff increases (+15 percent) and increases in minimum wages (+16 percent).
Other domestic factors include allegations of uncompetitive and excessive increase by some retailers, changing consumer shopping trends (stock-piling), and domestic supply-demand factors for some commodities.
The international factors that have contributed to the increase in food inflation are higher prices for crude oil (+30 percent in 2021) which translates to high food production costs and growth in international commodity prices such as sunflower oil, grains, and meat.
According to the Bureau for Food and Agricultural Policy (BFAP), the increase in food inflation in March 2021, was driven by oils and fats which rose by 13.4 percent, followed by confectionary (7.4 percent), milk, eggs and cheese (7.2 percent), meat (6.7 percent) and cereals (4.9 percent).
The substantial increase in the global price of oils and fats is due to strong demand, particularly from China, which is rapidly rebuilding its pig herd which had been reduced by the African Swine Fever.
Strong global maize prices have also been driven by firm import demand from China. The increase in milk and cheese prices domestically was driven by an upward trajectory in global dairy prices.
Some commodities such as eggs, flour, sugar, confectionery products, vegetables, and fruits increased in prices due to consumer stockpiling and changes in demand preferences as more consumers working from home.
Avian Influenza outbreaks in the Gauteng and North West provinces in South Africa also severely constrained egg supply, leading to sharp price increases. Meat prices are higher based on steady export demand and tight domestic supplies of red meat.
May 18, 2021 – Africa’s underinvested youth are in need of urgent attention and youth entrepreneurship investment banks must become the focus of global support, the African Development Bank (AfDB) head Dr Akinwumi A. Adesina said Monday in a discussion on scaling up financing for the continent’s youth.
Adesina was speaking at a virtual roundtable at which he presented a novel concept for youth entrepreneurship investment banks. The roundtable, organized by the African Development Bank, came a day ahead of the Summit on Financing African Economies convened by President Emmanuel Macron.
Spanish Foreign Minister Arancha González Laya, Jean-Michel Severino, CEO of Investisseurs et Partenaires; Ashish J. Thakkar, CEO of Mara Phones; Yana Kakar Global Managing Partner Emeritus at Dalberg Advisors; Yvonne Otieno, CEO, Miyonga Fresh Greens, and other representatives of the private sector joined in the meeting.
Otieno urged the world to believe in the youth and to put their hands in their pockets. “Take a risk on us. You will never regret it,” she said in a moving presentation in which she described her career trajectory which began in a bookshop, progressed through journalism, to starting her own business growing French beans on 1.5 acres of land.
“Failure is only a weakness if you don’t learn from it,” said Otieno.
With lack of access to finance a serious bottleneck, the proposed youth entrepreneurship investment banks would coordinate financial and non-financial actors and partners to more effectively support youth entrepreneurs.
“We must support the youth to go beyond looking for jobs. We must unleash the entrepreneurial drive and capacities of the youth to create jobs, Adesina said. “We must grow, finance and support large scale successes of youth-led businesses in Africa.”
Speaking immediately after Dr. Adesina’s opening remarks, Spanish Foreign Minister Arancha González Laya expressed strong support for the initiative. “Spain welcomes the African Development Bank’s youth entrepreneurship investment initiative, geared towards unlocking entrepreneurship and promoting the growth of businesses of the youth,” she said.
Thakkar, chair of the African Development Bank’s Presidential Youth Committee, advised that the youth investment banks would need to be scalable and self-sustaining. He said it was very important to create the right incentive structures for governments to encourage the private sector to play a key role.
Research suggests that Africa needs to create 18 to 30 million jobs annually through 2030, and Ladi Balogun, CEO of First City Monument Bank Group, reiterated the urgency of this challenge. He said time was of the essence in terms of mounting a response as well as accelerating decision-making processes for the extension of financing to entrepreneurs. He also advised working through local money managers to achieve scale.
“We have a ticking time bomb on our hands,” Balogun said.
Participants also commended the African Development Bank for taking a lead role in the effort to support youth entrepreneurs, as well as calling on the Bank to play a number of roles.
Yana Kakar said the African Development Bank has an important knowledge transfer role to play. She added that the Bank has much to share about what is needed in tech-enabled segments versus what might be needed to enable entrepreneurs in more production-oriented segments.
The African Development Bank (AfDB) has demonstrated its strong commitment to the youth of Africa through its Jobs for Youth in Africa Strategy to help create 25 million direct and indirect jobs, and empower 50 million youth by 2025. The institution has also set up a $40 million trust fund in partnership with several European countries to advance youth entrepreneurship and innovation.
Novartis continues to invest in research and development for next-generation antimalarials to combat the threat of artemisinin resistance
May 18, 2021 – Novartis has delivered 1 billion courses of antimalarial treatment, including 430 million pediatric treatments, largely at no profit since 1999; With other innovations, the Novartis artemisinin-based combination therapy (ACT) contributed to reducing malaria deaths by nearly half over the same timeframe; Novartis continues to invest in research and development for next-generation antimalarials to combat the threat of artemisinin resistance.
Novartis announced today that it has delivered one billion courses of an antimalarial treatment since 1999. More than 90% of this artemisinin-based combination therapy (ACT) was supplied without profit to malaria-endemic countries around the globe.
ACTs are the standard of care for the treatment of P. falciparum malaria, the most deadly form of the disease, responsible for over 99% of cases in Africa and half of the cases in Asia [2]. Since the turn of the century, ACTs have transformed malaria treatment and contributed to the dramatic reduction in malaria deaths.
Working with Chinese partners, Novartis launched the first fixed-dose ACT (artemether-lumefantrine) in 1999. Artemisinin is a natural compound found in the plant Artemisia annua, or sweet wormwood, and has shown to clear malaria parasites in the blood. ACTs combine an artemisinin derivative with a partner drug to reduce the risk of resistance if artemisinin is given alone.
Adoption of ACTs as first-line treatment by the World Health Organization (WHO) has been critical to the global malaria response. Since 2000, the WHO estimates that 1.5 billion malaria cases have been averted and 7.6 million lives saved.1 Along with malaria prevention tools and better diagnostics, ACTs remain a key component of the global drive to reach malaria elimination.
In 2001, two years after the launch of its ACT, Novartis signed an agreement with the WHO, committing to make the antimalarial available without profit to the public sector of malaria-endemic countries. Although the agreement expired in 2011, Novartis continues to provide treatments on the same terms as before.
“This is a landmark moment in the fight against malaria. Over the last 20 years, Novartis has delivered one billion treatments in more than 70 countries,” said Dr. Lutz Hegemann, Group Head, Corporate Affairs and Global Health, Novartis. “We could not have achieved this milestone without the support of our global partners and those we work with on the ground in endemic countries.”
Children bear a significant burden of malaria disease and death. This led Novartis and Medicines for Malaria Venture (MMV) to partner on the development of the first dispersible ACT formulated specifically for children. Of the 1 billion treatments delivered, more than 430 million are the pediatric formulation launched in 2009. This pediatric treatment has contributed to a significant reduction in malaria deaths in children: in 2010, a child died every 30 seconds from malaria and now it is estimated that a child dies every two minutes. Although this is a massive improvement, there is still a long way to go.
Over the last 20 years, Novartis has delivered one billion treatments in more than 70 countries
Novartis continues to spearhead the use of ACTs to treat malaria. The company is now testing a new ACT formulation for infants weighing less than five kilograms in collaboration with the PAMAfrica research consortium led by MMV. This is one of the most vulnerable groups affected by malaria, for whom there is currently no approved treatment.
Over the last few years, worrying signs have been observed of emerging drug resistance to ACTs in South East Asia, and more recently in Africa. If widespread resistance to ACTs occurs, particularly in Africa, new effective treatments will be urgently needed. In 2018, Novartis committed to investing more than USD 100 million over five years to further advance research and development of next-generation treatments.
Novartis pipeline in malaria
Novartis currently leads five malaria development programs worldwide, featuring three compounds that employ new mechanisms of action and activity against artemisinin-resistant strains of the disease.
KAF156 (ganaplacide) belongs to a novel class of antimalarial compounds that act against both the blood and liver stages of the parasite’s lifecycle. It demonstrated activity against both P. vivax and P. falciparum malaria, including artemisinin-resistant parasites. Novartis leads the development of this compound with scientific and financial support from MMV and from EDCTP via the WANECAM2 Consortium.
KAE609 (cipargamin) is another novel antimalarial compound demonstrating rapid clearance of parasites pre-clinically and in patients. Novartis is leading the development of KAE609 with financial support from the Wellcome Trust and in collaboration with the PAMAFRICA Consortium supported by EDCTP and led by MMV.
In 2020, the company discovered another novel malaria compound, INE963, which has an entirely new mechanism of action that will begin clinical trials in 2021. INE963 is a fast-acting, long-lasting antimalarial that holds promise for a high barrier to resistance. It was discovered with support from MMV and received the organization’s “Project of the Year” award in 2020.
Nestlé today joined other business leaders across the food industry to support ambitious action (pdf, 500Kb) by the European Union (EU) to increase supply chain transparency and traceability for commodities that may be linked to deforestation.
All the signatories call on the EU to put in place measures to scale up the use of innovative technologies to improve supply chain traceability, as well as stronger cooperation with producing countries to ensure that forests are protected and restored.
Nestlé’s decade-long experience in eliminating deforestation in its key supply chains has shown that no single approach can do it all. As of December 2020, over 90% of the key commodities that Nestlé buys were assessed as deforestation-free through a combination of tools, including supply chain mapping and disclosure, on-the-ground verification, and satellite monitoring.
Knowing where commodities originate from helps identify and tackle deforestation where it occurs. It also helps to ensure that all actors step up, be accountable and actively protect forests.
In addition to achieving transparent supply chains, more collective action between companies, governments and civil society is needed to end deforestation. This collective action will be incentivized if there is a clear set of rules that pushes companies to take impactful action on the ground to protect human rights and the environment. More intense dialogue between major consumer and producing countries, as well as steering flows of finance and investment towards sustainable activities and supply chains, will both be essential to ensure a fair international trade system.
Today’s statement builds on a joint position paper co-signed by Nestlé and over 50 other companies and non-profits in December 2020, calling on for the EU to tackle the different factors that drive deforestation and impact the livelihoods of farmers and their communities.
Nestlé will continue to work with all stakeholders and share its leading experience in supply chain transparency, traceability, and implementing its forest positive strategy. The company will help shape EU measures that protect and restore forests, promote sustainable food production and thriving communities, and create a forest positive future for all.
Distell produces Klipdrift brandy, Nederburg wine, Amarula cream liqueur, Savanna cider and Bain’s Cape Mountain Whisky. Remgro Ltd., an investment vehicle of South African billionaire Johann Rupert, and Public Investment Corp., Africa’s biggest pension fund, each hold a little more than 30% of Distell, according to data compiled by Bloomberg.
“Bearing in mind that there can be no certainty that an agreement will be reached,” Distell said, “shareholders are advised to exercise caution when dealing in their Distell securities until a further announcement is made.”
Heineken also emphasised that a transaction was not yet guaranteed.
Heineken is emerging from one of the beer sector’s toughest crises. Despite gains in Vietnam and Mexico, the brewer is still facing setbacks in key markets such as Brazil and the UK where restrictions on movement and sales have hurt demand.
Earlier this year, the company laid off 8 000 employees. The brewer surprised analysts in April with stable first-quarter sales as emerging markets made up for declines in Europe.
South Africa was one of Heineken’s best-performing markets, which is surprising given the country’s recurring ban on alcohol.
It recorded an 18.12% decline in the annual inflation ratefor the month of April (lower than 18.17% in March). This southward movement was majorly driven by a slower increase in the food index to 22.72% (from 22.95% in March) on the back of a rise in prices of coffee, tea, milk, bread, cereals, potatoes, yams and other tubers, meat, as well as fruits amongst others.
A vendor arranges bags of rice at the Wuse market in Abuja, Nigeria May 15, 2018. REUTERS/Afolabi Sotunde
Also, the imported food index rose to 16.90% (from 16.65%) amid the depreciation of the Naira at the BDC and Parallel markets – specifically, two months moving average foreign exchange rates at the BDC and Parallel markets rose m-o-m by 0.72% and 0.62% to N478.55/USD and N484.02/USD in April 2021.
On the other hand, Core inflation rose to 12.74% (from 12.64% in March) driven by rising in the price of pharmaceutical products, vehicle spare parts, medical services, furniture and finishing amongst others.
On a monthly basis, headline inflation moderated to 0.97% (from 1.56% in March) amid a decline in food inflation to 0.99% (from 1.90% in March). Food inflation moderated despite the worsened insecurity challenges in the country as well as the anticipated decline in food stockpiles given the fact that we are still in the planting season.
Also, core inflation fell to 0.99% (from 1.06% in March) amid a decline in clothing and footwear cost (0.54%) and flattish water, electricity, gas and other fuel cost (0.00%).
Urban and rural annual inflation rates moderated to 18.68% (from 18.76%) and 17.57% (from 17.60%) respectively in April.
Outlook:
Despite the surprise moderation in the inflation rate, we remain cautiously optimistic and expect prices to remain sticky due, in part, to the ongoing rainy season and the lingering effects of structural bottlenecks and insecurity.
Other factors include probable upward adjustment to electricity tariffs, the effect of higher crude oil prices on transportation costs as well as likely increase in imported food due to upward pressures on the exchange rate.
Thanks to Executive seats and the Chauffeur Package as standard, the rear area becomes a comfortable workspace or relaxation area. They are complemented by exclusive details such as large areas of wood trim on the rear of the front seats and between the two rear passengers.
Mercedes-Maybach S 680 4MATIC (combined fuel consumption: 14.1-13.3 l/100 km, combined CO2 emissions: 322-305 g/km); exterior: designo rubelit red/kalahari gold; interior: Leather Nappa macchiato beige / bronze brown pearl; trim parts: designo brown open-pore walnut wood with aluminium lines;Combined fuel consumption: 14.1-13.3 l/100 km, combined CO2 emissions: 322-305 g/km*Mercedes-Maybach S-Class; exterior: designo rubelit red/kalahari gold; interior: Leather Nappa macchiato beige / bronze brown pearl; trim parts: designo brown open-pore walnut wood with aluminium lines
The Mercedes-Maybach S-Class is available with a choice of two engine variants in Germany: the S 580 4MATIC (combined fuel consumption: 10.9-10.2 l/100 km, combined CO2 emissions: 248-233 g/km)[2] is powered by an eight-cylinder petrol engine (M176) with integrated second-generation starter-alternator and 48-volt onboard electrical system; the Mercedes-Maybach S 680 4MATIC (combined fuel consumption: 14.1-13.3 l/100 km, combined CO2 emissions: 322-305 g/km)2 is powered by the familiar V12 (M279), for the first time combined with 4MATIC all-wheel drive.
With active road noise compensation, the interior of the already very quiet Mercedes-Maybach S-Class becomes even quieter. In a similar way to headphones with noise suppression, the system reduces unwanted low-frequency noises using counter-phased sound waves. Active road noise compensation is a function of the Burmester® high-end 4D surround sound system.
Mercedes-Maybach S 680 4MATIC (combined fuel consumption: 14.1-13.3 l/100 km, combined CO2 emissions: 322-305 g/km); exterior: designo rubelit red/kalahari gold; interior: Leather Nappa macchiato beige / bronze brown pearl; trim parts: designo brown open-pore walnut wood with aluminium linesMercedes-Maybach S-Class; exterior: designo rubelit red/kalahari gold; interior: Leather Nappa macchiato beige / bronze brown pearl; trim parts: designo brown open-pore walnut wood with aluminium lines
The most important optional features at a glance:
On request, the exclusive appearance of the Mercedes-Maybach S-Class can be further enhanced by a two-tone paint finish (14,875 euros) with a fine dividing line. A total of ten colour combinations from the Mercedes-Maybach paint chart are available for this.
When the electrically powered comfort doors at the rear (1606.50 euros) are operated, they open and close with no human effort even on gradients. Integration into the infotainment and control system MBUX and Blind Spot Assist ensures a high level of operating convenience and additional safety. In combination with MBUX Interior Assist in the rear, the closing action of the automatic comfort doors can even be started or stopped with a hand gesture.
Thanks to rear-axle steering (1547 euros), the S-Class feels as manoeuvrable as a compact car when driving in town.
The revolutionary headlamp technology DIGITAL LIGHT (2249.10 euros) allows completely new functions, for example, the projection of guidelines or warning symbols onto the road surface[3].
With adaptive rear illumination (345.10 euros), the brightness and colour temperature of the interior lighting is adjustable in several stages. The LED spotlights are adjustable for position and size, allowing use as reading or lounge lights.
MBUX Interior Assist in the rear (523.60 euros) is able to detect rear-seat passengers. In this case, the head restraints extend automatically. Intuitive hand gestures can be used to control the rear roller sunblind in the panoramic sliding sunroof. This is available in conjunction with MBUX Interior Assist in the front (642.60 euros).
With the MBUX high-end Rear Seat Entertainment system (2558.10 euros), passengers in the rear can also enjoy the full MBUX experience with direct access to vehicle functions. It is possible to watch films and access internet content on the two fully integrated 11.6-inch high-resolution displays, for example.
The silver-plated champagne goblets (3808 euros) round off the exclusive atmosphere in the rear of the Mercedes-Maybach. A tailor-made insert in the stowage compartment and two matching holders in the centre console hold the goblets in place even when on the move.
At the same time as the Mercedes-Maybach models, the V8 petrol engine also has its debut in the Mercedes-Benz S-Class, like the S 580 4MATIC (combined fuel consumption: 10.6-10.0 l/100 km, combined CO2 emissions: 242-228 g/km)2. This model is available in both wheelbase lengths and starts at 126,366.10 euros.
The Basketball Africa League (BAL) today announced a multi-year partnership with Flutterwave that makes the payments technology company an associate partner of the BAL. The inaugural BAL season tipped off yesterday at the Kigali Arena in Kigali, Rwanda, with 12 teams from across Africa competing in the new professional league. The first BAL Finals will be held Sunday, May 30.
Flutterwave, which was founded in 2016 and recently named among Time Magazine’s 100 Most Influential Companies, provides innovative payment solutions to more than 290,000 businesses and has an infrastructure reach in more 33 African countries, including Rwanda, Nigeria, Kenya, South Africa, Tanzania, Uganda and Zambia.
The partnership will leverage the BAL and Flutterwave’s shared commitment to driving economic growth across the continent through the launch of a digital campaign that will provide select African entrepreneurs and small businesses with the opportunity to travel, connect and engage with other African markets.
“As a lifelong basketball fan, I am excited that we are able to team up with the BAL as it tips off its inaugural season,” said Flutterwave Chief Commercial Officer Ifeoluwa Orioke. “There’s progress going on in Africa, and this is the time to tap into the enthusiasm of young people to unite the continent and open doors for young Africans through sports.”
“Technology plays an important role in basketball and our ability to make our content and products accessible and convenient for fans to consume,” said BAL President Amadou Gallo Fall. “This partnership also reflects our ambition to play a role in the industries that will shape the continent’s economic growth, facilitate entrepreneurship and strengthen the continent’s position on the global stage.”
Champions from the national leagues in Angola, Egypt, Morocco, Nigeria, Senegal and Tunisia earned their participation in the inaugural season. The remaining six teams, which come from Algeria, Cameroon, Madagascar, Mali, Mozambique and Rwanda, secured their participation through BAL qualifying tournaments conducted by FIBA Regional Office Africa across the continent in late 2019.
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