WHO expert panel strongly advises against use of hydroxychloroquine to prevent covid-19

Esan Bolaji
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WHO expert panel strongly advises against use of hydroxychloroquine to prevent covid-19

The drug is no longer a research priority; resources should focus on other more promising drugs to prevent covid-19

The anti-inflammatory drug hydroxychloroquine should not be used to prevent infection in people who do not have covid-19 say a WHO Guideline Development Group (GDG) panel of international experts in The BMJ today.

Their strong recommendation is based on high certainty evidence from six randomised controlled trials involving over 6,000 participants with and without known exposure to a person with the covid-19 infection.

WHO expert panel strongly advises against use of hydroxychloroquine to prevent covid-19 Brandspurng

High certainty evidence showed that hydroxychloroquine had no meaningful effect on death and admission to hospital, while moderate certainty evidence showed that hydroxychloroquine had no meaningful effect on laboratory-confirmed covid-19 infection and it probably increases the risk of adverse effects.

As such, the panel considers that this drug is no longer a research priority and that resources should be used to evaluate other more promising drugs to prevent covid-19.

This guideline applies to all individuals who do not have covid-19, regardless of their exposure to a person with the covid-19 infection.

WHO to investigate allegations of sexual exploitation and abuse in Ebola response in the Democratic Republic of the Congo

The panel judged that almost all people would not consider this drug worthwhile, and also decided that factors such as resources, feasibility, acceptability, and equity for countries and healthcare systems were unlikely to alter the recommendation.

Today’s recommendation is the first version of a living guideline for drugs to prevent covid-19, developed by the World Health Organization with the methodological support of the MAGIC Evidence Ecosystem Foundation. Its aim is to provide trustworthy guidance on the management of covid-19 and help doctors make better decisions with their patients.

Living guidelines are useful in fast-moving research areas like covid-19 because they allow researchers to update previously vetted and peer-reviewed evidence summaries.

New recommendations for other preventive drugs for covid-19 will be added to this guideline as more evidence becomes available.

No Wind-up Court Order on StarTimes

Esan Bolaji
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No Wind-up Court Order on StarTimes

Following articles published by some Nigerian media over an alleged dispute between StarTimes and beIN Media Group, StarTimes wants to clarify the following points:

StarTimes has not been subjected to any court order, in Nigeria or anywhere else, in relation to a dispute with beIN Media Group.

No Wind-up Court Order on StarTimes

Though in Hong Kong, a legal proceeding is on-going to resolve the differences between both aggrieved parties; it’s an ongoing court proceeding and not a court order. A court in Hong Kong has no jurisdiction over Nigeria. Whatever decision reached is binding on both parties in that country only, and would have no consequences on StarTimes’ operations in Nigeria.

However, StarTimes has been in constant communication with beIN Media Group and is confident that the two parties will resolve the issue in an amicable manner.

StarTimes has been for several years the official broadcaster of many premium sports events in Sub-Saharan Africa: La Liga, Bundesliga and UEFA Europa football leagues; as well as Spain’s Copa del Rey and Supercopa de Espana, England’s FA Cup and, Italy’s Coppa Italia and Supercoppa Italiana.

Last week, MUTV, the official TV channel of Manchester United was launched on the platform. Earlier this year, StarTimes successfully aired the 2020 CHAN and is now gearing up to broadcast the EURO 2020 this summer across the continent.

StarTimes enjoys fruitful and constructive relations with these right holders and partners with them to organise promotional activities on a regular basis. StarTimes will keep promoting sports events and bringing top football content to millions of Nigerian homes.

Our ability to bring these premium football content to homes across Africa is a testament to our sustainable earnings. Findings by London-based Digital TV Research show that StarTimes would enjoy the most impressive growth in Africa, from 10.11 million subs at the end-2020 to 16.86 million by 2026.

As a primary objective of our business, StarTimes will ensure that every African family can access, afford, watch and share the beauty of digital TV.

First COVID-19 COVAX vaccine doses administered in Africa

Esan Bolaji
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First COVID-19 COVAX vaccine doses administered in Africa

  • Today, the governments of Côte d’Ivoire and Ghana began COVID-19 vaccination campaigns aimed at protecting healthcare workers

  • This week’s first vaccinations happen as a further 11 million COVAX doses are expected to be delivered over the next seven days

  • Publication of the allocation of the AstraZeneca/Oxford vaccine to 142 of COVAX’s participating economies, to be delivered between now and the end of May, is anticipated tomorrow

1 March 2021 – As the global rollout of COVAX vaccines accelerates, the first COVID-19 vaccination campaigns in Africa using COVAX doses began today in Ghana and Côte d’Ivoire. These campaigns are among the first to use doses provided by the COVAX Facility’s Gavi COVAX Advanced Market Commitment (AMC).

First COVID-19 COVAX vaccine doses administered in Africa Brandspurng

The AMC is the COVAX Facility’s mechanism to provide donor-funded vaccines to lower-income countries.

The campaigns in Ghana and Côte d’Ivoire follow deliveries to both countries last week with Ghana taking delivery of 600,000 doses on February 24 and Côte d’Ivoire 504,000 doses two days later. Both countries received the AstraZeneca/Oxford vaccine licensed and manufactured by the Serum Institute of India (SII). The vaccine, branded COVISHIELD, was granted Emergency Use Listing (EUL) by the World Health Organization on February 15.

First COVID-19 COVAX vaccine doses administered in Africa Brandspurng1

H.E. Nana Akufo-Addo, President of the Republic of Ghana said: “COVID-19 has changed the world. It has cost lives, battered health systems, and damaged livelihoods. But, through these challenges, we have seen the best of humanity exemplified through strong multilateral cooperation. Ghana welcomes the arrival of the first doses of COVID-19 vaccines through the COVAX AMC as a pathway to ending the acute phase of the pandemic. To maximise the public health benefit of the vaccine, the first doses will be prioritized for health and essential workers, and other at-risk groups. This important milestone will allow Ghana to get back to business, and build back our economy even stronger than before.”

The deliveries mark the start of what will be the largest, most rapid and complex global rollout of vaccines in history. In total, COVAX aims to deliver at least 2 billion doses of COVID-19 vaccines by the end of 2021, including at least 1.3 billion to the 92 economies eligible for support through the COVAX AMC.

Confirmation of first-round allocations, covering the majority of the COVAX Facility participants, will be published 2 March 2021. COVAX doses to date have been delivered by SII to India, Ghana, Cote d’Ivoire, while Pfizer-BioNTech has delivered doses to the Republic of Korea. More deliveries by these two manufacturers are planned in the coming days, with 11 million doses in total planned to be delivered over the next seven days. In addition, AstraZeneca is set to commence shipments this week.

COVAX, the overarching effort to accelerate development and access to COVID vaccines, is co-led by the Coalition for Epidemic Preparedness Innovations (CEPI), Gavi, the Vaccine Alliance and the World Health Organization (WHO) working in partnership with UNICEF as well as the World Bank, manufacturers and civil society organizations, and others.

“This is a day many of us have been dreaming of and working for more than 12 months,” said Dr Tedros Adhanom Ghebreyesus, WHO Director-General. “It’s gratifying to see the fruit of that labour. But success is still to come. This is only the beginning of what COVAX was set up to achieve. We have a lot left to do to realize our vision to start vaccination in all countries within the first 100 days of the year. There are just 40 days left.”

“As vaccination begins in Côte D’Ivoire, less than a year after COVID-19 was characterized as a global pandemic, I am filled with confidence, and I am sure that through COVAX and international solidarity we will be able to reach the most at-risk everywhere. Global equitable access to life-saving vaccines is the surest way to save lives and rebuild economies.

I would like to thank all donors and also the leadership of the G7 group of nations. Nowadays vaccine policy is the best economic policy,” said José Manuel Barroso, Chair of Gavi, the Vaccine Alliance.

“The last year has been a dark one for families all over the world, but the rapid development of COVID-19 vaccines provided a hopeful light at the end of the tunnel. Today, the COVAX Facility begins to make good on its promise to make sure that light shines for all,” said Henrietta Fore, UNICEF Executive Director.

“This unprecedented global effort has rallied the international community behind identifying acceptable vaccines, raising funds to procure them, and laying the groundwork for the world’s largest immunization campaign in history. Now, these vaccines are quickly reaching people in low and middle-income countries, many of which would have been left behind without the Facility’s work. This proves what we can accomplish when we all – the private sector, UN and development agencies, governments, donors, and other partners – work as one.”

“This is a historic day in the global fight against COVID-19. Today’s vaccinations in Cote d’Ivoire and Ghana are among the first to be delivered through COVAX, which will protect many hundreds of millions of those most at risk from COVID-19, wherever they are in the world.” said Dr Richard Hatchett, CEO of CEPI.

“In the coming days and weeks, COVAX will begin to redress the global imbalance in vaccine deployment, but there is still much to do. The spread of new COVID-19 variants means global access to vaccines is more important than ever before, and the global community must remain firmly focused on this goal if we are to bring the pandemic to an end.”

“The first COVAX vaccine deliveries in West and Central Africa were a huge first step towards equity and a demonstration of global solidarity,” said UNICEF Regional Director for West and Central Africa Marie-Pierre Poirier.

“A few days after the vaccine doses landed, we are already celebrating the first COVID-19 vaccination campaigns, starting today in Ghana and Cote d’Ivoire, aimed at protecting the most vulnerable. We are proud that countries in West and Central Africa were ready from the get-go. UNICEF is active on the ground, together with WHO and other partners, to support the roll-out of the vaccination campaigns until everyone is safe.“

The start of Africa’s biggest immunization drive in history through the COVAX Facility marks a step forward in the continent’s fight against COVID-19. It is a welcome shift towards bringing African countries off the sidelines and back into the vaccination race, correcting the glaring inequity which has been an unfortunate hallmark of the global vaccine rollout to date.

For months WHO teams in the region and partners have been supporting countries to plan and prepare for the complex challenges of such a massive vaccination campaign. We now look forward to seeing these plans put into action with an effective and efficient vaccine rollout,” Dr Matshidiso Moeti, WHO Regional Director for Africa.

Quotes from partners and donors

 President Ursula von der Leyen, European Commission said:

“To overcome coronavirus, vaccines must reach all corners of the planet, as soon as possible. I am delighted that we now have tangible results on the ground. I want to pay tribute to the tireless efforts of our partners, Gavi, CEPI, WHO and UNICEF. Team Europe is a proud supporter of COVAX and will continue to stand by the people of Africa.”

Karina Gould, Minister of International Development, Government of Canada and Gavi COVAX AMC co-chair said:

“Today is yet again proof of what can be achieved through international collaboration. We have reached another milestone in the global vaccination effort, with the first COVAX vaccines being administered in Cote d’Ivoire. 

Canada is committed to helping everyone, everywhere recover from the pandemic, and also, to strengthening health systems.”

Norwegian Minister of International Development and co-chair of ACT-A facilitation council Dag-Inge Ulstein said:

“The progress on vaccines is impressive and, as a major funder to the ACT Accelerator, we believe in the need for the multilateral approach which is clearly working. As co-chair of the ACT Accelerator Facilitation Council, we urgently need to see the same traction in tests, treatments and health systems.

Funding is needed to support this now; we have a small window of opportunity with the evolving context of the pandemic -new variants, limited vaccine supply, and underinvestment in global solutions mean we cannot be complacent.”

HE Minister of Health in Saudi Arabia, Dr Tawfig AlRabiah said:

“Saudi Arabia’s contribution to this historic moment reaffirms our commitment to the principles of ACT-A; equitable access to various pandemic tools, leaving no one behind.”

Adar Poonawalla, CEO, Serum Institute of India (SII) said:

“We are delighted to play a part in vaccinating the world through COVAX. We will continue to work towards providing equitable access to vaccines.”

Sai D. Prasad, President, Developing Countries Vaccine Manufacturer’s Network (DCVMN) said: 

“Developing Countries Vaccine Manufacturer’s Network has strongly stood with all stakeholders during this unprecedented time of COVID-19 pandemic and has strived hard to develop, manufacture and roll out COVID-19 vaccines in a record time span of 10-12 months as a part of global collaboration and solidarity. We stand together shoulder to shoulder in this endeavour.”

Thomas Cueni, Director General, International Federation of Pharmaceutical Manufacturers and Associations (IFPMA) said:

“Since the beginning of this pandemic, vaccine makers have spared no efforts to speed up development, production, registration, and equitable access to high-quality vaccines.

Pharmaceutical manufacturers are committed founding partners of ACT-Accelerator and COVAX, and we are excited that for the first time in the history of pandemics vaccines are rolled out in a coordinated manner quickly around the world.

Another momentous effort is the scaling up of vaccine manufacturing from zero to millions in a matter of months. As producing vaccines is a complex process, so with such a scale-up, there are inevitably going to be challenges ahead; we will continue working collaboratively to find solutions and join hands in making history.”

March 2021 FGN Savings Bonds Offer for Subscription

Esan Bolaji
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March 2021 FGN Savings Bonds Offer for Subscription

The Debt Management Office (DMO), on behalf of the Federal Government of Nigeria (FGN), has introduced a retail savings product that will be accessible to all income groups – the FGN Savings Bonds.

Kindly note that the FGN Savings Bonds for September opened on Monday, 7th September 2019.

For a clear understanding of what FGN savings Bonds is all about, please check here…
Details are as highlighted below for the FGN Savings Bonds: 
  • 2-Year FGN Savings Bond due March 10, 2023: 5.181% per annum
  • 3-Year FGN Savings Bond due March 10, 2024: 6.181% per annum
  • Opening Date: March 1, 2021
  • Closing Date: March 5, 2021
  • Settlement Date: March 10, 2021
  • Coupon Payment Dates: June 10, September 10, December 10, March 10
Naira Gains against the USD at the Bureau De Change, Parallel (“black”) Markets Brandspurng
Afolabi Sotunde Illustration Naira
Summary of the Offer 
Issuer 
Federal Government of Nigeria (“FGN”)
Units of Sale 
N1,000 per unit subject to a minimum subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50,000,000.
Interest Payment 
Payable Quarterly
Redemption 
Bullet repayment on the maturity date
Status 
  1. Qualifies as securities in which trustees can invest under the Trustee Investment Act.
  2. Qualifies as Government securities within the meaning of Company Income Tax Act (“CITA”) and Personal Income Tax Act (“PITA”) for Tax Exemption for Pension Funds, amongst other investors.
  3. Listed on The Nigerian Stock Exchange.
  4. Qualifies as a liquid asset for liquidity ratio calculation for banks.
Security 
Backed by the full faith and credit of the Federal Government of Nigeria and charged upon the general assets of Nigeria. 
 

Interested investors should contact the stockbroking firms appointed as distribution agents by the debt management office.

Greenwich Merchant Bank Appoints New MD/CEO

Esan Bolaji
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Greenwich Merchant Bank Appoints New MD/CEO

Greenwich Merchant Bank Limited has announced the appointment of Mr. Bayo Rotimi as its new Managing Director/Chief Executive Officer.

He joins Greenwich Merchant Bank with over 27 years experience as an investment banking professional; having previously worked at Fountain Trust Merchant Bank, Lead Merchant Bank, and FCMB Capital Markets Limited, where he rose to the position of Chief Executive Officer in 2008 before leaving to establish his own boutique Investment Banking Firm.

Greenwich Merchant Bank Appoints New MD/CEO
Mr. Bayo Rotimi, Managing Director/Chief Executive Officer | www.wordpress-1516176-5827464.cloudwaysapps.com

He was, until recently, the Chairman of the Investment Committee of ARM’s Discovery Aggressive Growth, Ethical, Money Market, Fixed Income, and Eurobond Funds with over N110 billion under management.

Bayo holds a Bachelors Degree in Economics from the University of Lagos (1990) and a Masters Degree from the University of Sheffield, UK (1992).

He has acquired significant experience over the years and has led the execution of numerous landmark transactions cutting across Corporate Finance, Capital Raising (debt, equities, and hybrids), and Financial Advisory services (Mergers & Acquisitions, Corporate Restructuring, Privatization Advisory, and Project Finance).

He is a Member of the Institute of Directors; Associate of the Certified Pension Institute; Member, of Chartered Institute of Bankers, and Member of the Advisory Board of the Enterprise Development Centre (EDC) of the Pan Atlantic University.

He teaches Strategic Planning at the EDC and actively supports its Experts-in-Residence program that mentors emerging businesses. Bayo was an External Member of Faculty at the Lagos Business School between 2009 and 2013. He also continues to serve on various market development-focused committees inaugurated by the Securities and Exchange Commission to facilitate the development of the Nigerian Financial markets.

Speaking on the appointment, Kayode Falowo, Chairman, Greenwich Merchant Bank stated that

“Bayo’s track record and pedigree speaks for itself and offers a reassuring nexus between the corporate ideals that Greenwich is reputed for and the proactive dynamism required to stay on the cutting-edge of innovation, product development, and stakeholder satisfaction.”

Bayo Rotimi, as MD/CEO, will provide leadership and direction to the Management Team and be responsible for driving the Company’s overall strategic objectives and operational performance towards delivering optimal value for stakeholders in line with global best practice.

MTN Nigeria Ends 2020 with 76.5 Million Subscribers; Data Revenue Rises by 51.2% to N332.37 Billion

Esan Bolaji
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1
MTN Nigeria Ends 2020 with 76.5 Million Subscribers; Data Revenue Rises by 51.2% to N332.37 Billion

MTN Nigeria Communications Plc (MTN Nigeria) announces its audited for the financial year ended 31 December 2020. MTN Nigeria’s mobile subscriber base grew 19% year-on-year and stood at 76.5 million with active data users increased by 7.4 million to 32.6 million (up by 29.4%).

In the year, according to the financial statements of the firm released to the Nigerian Stock Exchange (NSE) and analysed by Brand Spur, the sum of N1.346 trillion was generated in the year, higher than the N1.169 trillion achieved in 2019, an increase of 15.1%.

MTN Nigeria’s profit after tax grew 0.9% to N205 billion while the Profit before tax (PBT) also grew by 2.6% to N298.9 billion.

MTN Nigeria Revenue Driven By Surge in Data Revenue in Q3 2020

Key metrics:

  • Mobile subscribers increased by 12.2 million to 76.5 million
  • Active data users increased by 7.4 million to 32.6 million
  • e-Service revenue increased by 14.7% to NGN1.3 trillion
  • Earnings before interest, tax, depreciation, and amortisation (EBITDA) grew by 9.7% to N685.7 billion
  • Net Assets N178.3b +22:3%
  • Market Cap – N3.4 trillion +61.8%
  • EBITDA margin declined by 2.5 percentage points (pp) to 50.9%
  • Earnings per share (EPS) rose by 0.9% to N10.1
  • A proposed final dividend of N5.90 kobo per share (Total including interim N9.4).

Unless otherwise stated, financial and non-financial information is year-on-year (YoY, full-year 2020 versus 2019)

MTN Nigeria CEO, Ferdi Moolman comments:

“2020 was a challenging year for all The unprecedented disruption that the COVID-19 pandemic caused the businesses and people we serve, challenged us in new and demanding ways.

The impact continuss to evotve. Adoption of our data and digital services accelerated as lockdowns and gathering restrictions were imposed and work-from-home became the norm for many.

Our thoughts and prayers are with those who have lost loved ones due to the pandemic the toll on lives and livelihoods globally have been profound. To date, Nigeria has recorded 155,417 confirmed COVID-19 cases and 1,905 related deaths, according to the Nigeria Centre for Disease Control (NCDC). MTN Nigeria has also been directly

impacted by the pandemic, with 62 employees diagnosed with COVID-19 and 46 recoveries. Sadly, one of our employees succumbed fo the virus.

Our employees adapted quickly to working remotely to ensure that our customers remained connected. I am incredibly proud that we were able to meet the challenges faced in 2020, by pulling together, working closely with the government and our regulators, and understanding our customers evolving needs.

As we navigated the fallout of the pandemic, adopting our processes and structures to the new realities, we acted swiftly to support the national response ina holistic way. This was encapsulated in our Y’ello Hope Initiatives through which we provided support to our broad base of stakeholders to the value of approximately N25 billion

We provided free-to-access services (including SMS and data) to the most vulnerable, supported the acquisition of essential medical supplies (tests and personal protective equipment), and joined the Coalition Against COVID-19 CACOVID) that drove multiple initiatives, including building isolation centres across the country.

We also paid our taxes early in support of the government’s ongoing efforts. In January 2021, MTN Group partnered with the African Union contributing US$25 million to their COVID-19 vaccination programme. MTN Nigeria Is pleased to play its part in this initiative, through which Nigeria will receive 1.4 million vaccine doses for the benefit of health workers.

in addition, we committed marketing resources to our #WearltForMe campaign to help create awareness around wearing masks, and our REVV support programme for Micro, Small and Medium Enterprises (MSME) helped them navigate the new digital reality.

Our performance demonstrated strong operational execution and resilience in our business. We connected 12.2 million new customers to our network bringing our total subscriptions to 76.5 million.

The introduction of additional customer registration requirements and suspension of the sale and activation of new SIMs towards the end of the year affected subscriber growth. We remain committed to ensuring our subscriber records are updated with the National identity Number (NIN) and continue working closely with the government, supporting their efforts by expanding capacity to provide NIN enrolment services across our customer interaction touchpoints.

Active data users increased by 7.4 million to 32.6 million, supported by growth In gross connections and the expansion of our4G network. Our mobile money (MoMo) business also continued to accelerate with @ 269.2% increase in my number of registered agents to over 395,000 and 4.7 million active subscribers from approximately 553,000 in 2019.

Service revenue grew by 14.7% in line with our medium-term targets, driven mainly by voice and data revenue. Voice revenue grow was 5.9% and although this was subdued in G2 due to COVID-19 induced restrictions, we saw a pickup in momentum into Data revenue rose by 51.2%, with increased data usage and traffic.

To accommodate this and enhance service quality, we focused on capacity upgrades and 4G population coverage, while expanding our investments in rural connectivity. Our 4G network now covers 60.1% of the population, up from 43.8% in 2019.

EBITDA rose by 9.7%, supported by service revenue growth. However, the EBITDA margin declined by 2.5pp fo 50.9%. This was mainly due to increased operating expenses, arising from the new rollout of new sites and the impact of Naira depreciation, affecting, in particular, the costs of our lease contracts.

Despite the increase in costs, we recorded an improvement in our bottom-line earnings, with profit before tax PBT) and profit after tax (PAT) increasing by 2.6% and 0.9% respectively.

In line with our dividend policy, the board has proposed a final dividend of N5.90 kobo per share to be paid out of distributable net income. This brings the total dividend for the year to N9.40 kobo per share, representing an increase of 18.7%.

I thank the Boord, Management, and staff of MTN Nigeria for the supports given to me and the opportunity to serve in Nigerian as I complete my tenure as CEO of MTN Nigeria and assume a new role as MTN Group Chief Risk Officer. Effective 1 March 2021, Karl Toriola will take over as the CEO. I wish Karl and his new team the very best.”

Key financial highlights

MTN Nigeria Ends 2020 with 76.5 Million Subscribers; Data Revenue Rises by 51.2% to N332.37 Billion

Operational review

We made considerable progress in growing the base for our business, connecting 12.2 million new subscribers to access communication services, The growth in our subscriber base provided support for voice revenue, which accounted for 67.1% of service revenue and rose by 5.9% with an acceleration in growth to 8.9% YoY in H2, This was enabled by our expanded customer acquisition touchpoints, rural telephony initiatives and revamped acquisition offers.

The suspension of new SIM registration in mid-December did not have a significant impact on voice revenue as we saw an increased level of activity from the existing base.

Data revenue maintained the positive momentum from Q2, prompted by the COVIO19 lockdown, rising by 51.2%. The performance in data was led by a combination of increased subscribers, usage (MB per user) and ultimately traffic, supported by increased network capacity and 4G penetration.

Data traffic rose by 126.86 and average usage by 64.0%. We added approximately 8.2 million new smartphones to the network bringing smartphone penetration to 45.9% of our base, up from 41.9% in 2019.

Fintech revenue rose by 27.3%, boosted by MTN Xtratime, our airtime lending service. We expanded our MoMo agent network with the addition of over 280,000 registered agents during the year.

This was achieved os we continued to convert our traditional airtime agents in line with our one distribution model. Our fintech subscribers increased by more than eight times to 4.7 million, driving higher transaction volumes of over 51.5 million during the year and core fintech revenue growth of 28.0%.

The uptake of our digital business continued to gain traction with the revamp of our products and services, improved customer journey and increase in active user base. As a result, digital revenue recorded growth of 107.2%, entrenching the pleasing structural turnaround in the business.

In H1, we redefined how we account for the active user base to capture unique paid subscriptions, and we have seen this number grow by 75% to 2.8 million from 1.6 million In H1. This was driven mainly by subscriptions for ayoba, our instant messaging platform, which rose by 120.9% fo 1.4 million.

Enterprise revenue increased by 1.5%, supported by growth in revenue from devices and fixed connectivity. The economic impact of the COVID-19 lockdown, particularly in Q2, led to a decline in the uptake of our products and services by the businesses we support, We are, however, encouraged by the recovery that occurred in H2 as restrictions eased and economic activity began to improve We anticipate further uplift in enterprise revenue once the USSD pricing dispute is resolved and we recover outstanding fees from the banks.

Our enterprise business includes revenue from mobile and fixed connectivity, cloud and ICT solutions, and devices. It cuts across voice, data and digital services for SMEs, the public sector and large enterprise customers,

Capital expenditure (CAPEX) in the year was N298.6 billion, up 19.4%. Excluding right of use assets, CAPEX was up 15.2% to N240.1 billion. We accelerated site rollout in H2 following a slowdown in H1 due to foreign exchange paucity and port congestion, As a result, and In line with our guidance, we were able to increase our 4G population coverage to 60.1% with the delivery of 5,724 sites during the year, of which 74% are 4G sites

We expanded the scope of our service agreement with IHS Holding Limited QHS) and amended the currency conversion provision for tower services in view of the longterm benefits. This led to the movement of the reference rate for conversion to Naira From the CBN’s official rate to the NAFEX rate.

We reviewed the treatment of nonrecoverable VAT on lease payments to account for it as an expense over the lease period, These, together with the effects of Naira depreciation, put upward pressure on lease rental costs In the period in addition to these, the combined effect of the 2.Spp increase in value-added tax (VAT) and COVID-19-related costs led to a 27.2% increase in operating expenses with a knock-on effect on EBITOAmargin,

EBITDA rose by 9.7% and the EBITDA margin was 50.9%. We delivered a healthy free cash flow of N387.1 billion, up 3.2%. Depreciation and amortisation rose by 11.7% because of the exchange rate and VAT impacts, while net finance cost rose by 25.4% arising from higher borrowings and lower yields earned on our investments in government securities.

As a result, we recorded a PBT growth of 2.6% In H1, we issued N100 billion commercial paper, which was oversubscribed at a blended rate of 5.7% per annum. This allowed us to broaden our sources o.f funding and lower our overall cost of funding, which reduced by 3.3pp in 2020

PAT and EPS each rose by 0.9% reflecting an increase In taxation mainly due to lower investment allowance and exempt income,

COVID-19 and the impact on the business

The pandemic caused unprecedented disruption to businesses and impacted lives and livelihoods. Although the operating environment remains challenging, the easing of lockdown restrictions led to an improvement in economic activity and market conditions into H2.

Our response to the pandemic and its impact can be categorised into four broad areas, namely social, commercial, network and supply chain as welt os funding and liquidity considerations.

in terms of the social impact, we launched various Initiatives to provide support for our people, customers and the various levels of government as part of our YelloHope packages. We empowered our people to work remotely and implemented health measures and monitoring to ensure their safety and business continuity. We continue to provide welfare support to them through the MTN Global Staff Emergency Fund.

Outlook

The operating environment remains challenging and uncertain due to the effects of the pandemic, We remain focused on the safety and wellbeing of our staff, customers and broader stakeholders as well as mitigating supply chain challenges while safeguarding our financial and liquidity position.

While we continue to manage the attendant risks and support our stakeholders, however, we are also well placed to unlock the opportunities that have risen In the areas of financial inclusion along with the rising demand for connectivity and digitalisation We continue to refine our strategy to make our operating model Future-fit to adapt to a dynamic world for

In view of the new directive a SIM registration, our immediate priority is to protect our base by collaborating with NIMC to drive NIN enrolment and ensure that our customers’ records are updated with NINs.

We remain focused on our MoMo business given the important role it plays in driving financial inclusion in the country. We continue to engage with the CBN regarding obtaining a Payment Service Bank (PSB) licence, which would help to accelerate this ambition of broadening financial participation and inclusion.

In the meantime, we will continue to expand the agent network Mrough our one distribution model, broaden our service offerings and drive the overall contribution of our core fintech business to service revenue,

We will fast track 46 sites rollout to Further increase population coverage while continuing to expand rural coverage. Although the availability of foreign exchange remains a constraint, we strive to minimise its impact on the business. We will sustain our drive for cost management across the business and strengthen our operations and financial position to unlock efficiency and support margins.

Google.org’s new tracking tool leverages global health stats to tackle COVID-19

Esan Bolaji
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Google.org’s new tracking tool leverages global health stats to tackle COVID-19

01 March 2021 – Google.org has joined hands with a consortium of COVID-19 researchers to announce the launch of Global.health, an open-access epidemiological data platform that enables experts to track disease spread in real-time and to forecast future outbreaks, so informing effective government and public response.

With the support of Google.org, researchers from Boston Children’s Hospital, Northeastern University and Oxford University created Global.health with the express purpose of leveraging anonymised data from open-access authoritative public health sources to track disease progression.

New Google-IFC report estimates Africa’s Internet economy could be worth $180 billion by 2025 Brandspurng1

Data has always been a vital tool in understanding and fighting disease, says Kernie Obimakinde, Google.org Research Fellow, but upholding data privacy has also been a critical aspect in the design of Global.health.

“When an outbreak occurs, timely access to organised, trustworthy and anonymised data is critical as it can help public health leaders formulate early policy, medical interventions, and resource allocation — all of which can slow the spread of disease and save lives,” he explains.

The Global.health team are confident that the platform will become a key addition to the world’s early warning systems toolbox, helping identify and respond to future epidemics and pandemics that may occur globally, regionally and nationally.

Earlier research work by the consortium helped detect the initial COVID-19 outbreak in Wuhan, and alert the World Health Organisation (WHO). Yet, due to the rapid spread of the virus around the world and the overwhelming pressure is created on their systems, the researchers tag-teamed with Google.org to urgently build Global. health.

The grant is part of a broader Google.org $100-million commitment to COVID-19 relief that was announced alongside 30 other projects from organisations around the world using AI and data analytics to support pandemic relief efforts.

Majority of Britons support vaccine passports for travel – Report

Kantar
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Majority of Britons support vaccine passports for travel – Report

Research also finds improvements in the UK public’s economic outlook.

Our latest public opinion research finds increasing levels of approval of the government’s handling of COVID-19, improvements in the economic outlook and a view that police, fire and army should be prioritised for phase two of the vaccinations.

Findings from the research, which took place between 18 and 22 February, reveal:

  • Frontline emergency services are the group selected by most people to be prioritised for phase two of vaccines (58%), followed by people who work in supermarkets and essential shops (46%) and teachers (44%).
  • Over seven in ten (77%, no change vs January 2021) say they have already or would definitely/probably get a COVID-19 vaccine. In December 2020, 65% of people said they would definitely/probably do so.
  • 63% strongly support/tend to support the introduction of a vaccine passport to allow overseas travel into and out of the UK this summer.
  • 64% agree/strongly agree that “the school summer term should be extended by one or two weeks into August to help pupils catch up with their education”.
  • One in three think it will not be “not very safe”/“not at all safe” for teachers, parents and children for schools to reopen as planned (35%)
  • 45% of people think that the government are handling the COVID-19 outbreak very/fairly well (+5), the highest proportion since May 2020 when it was 49%.

Britain Barometer Feb 2021 Brandspurng Majority of Britons support vaccine passports for travel - Report

Impacts on household budgets

After several months of gloomy economic impacts reported by the public, there are some signs of recovery in this months’ research:

  • Fewer people in February say it is harder for them to meet their monthly household budget than it was 12 months ago: 26% vs 39% in January.
  • Fewer people in February state that their job feels “less secure compared to a year ago”: 30%, compared to 38% in January. This is the lowest figure since the beginning of the pandemic in the UK in March 2020 (26%).
  • Fewer people now report that coronavirus has reduced their personal income: 35% compared to 42% in January.
  • When asked to think about how the economy will be doing in 12 months’ time, 30% say worse than it is now (-4). This is the lowest figure since the pandemic began.

The weeks ahead will reveal the 2021 Budget and the end of government-backed COVID-19 support schemes such as furlough. Our research finds that 45% (-4) rate the government’s response to supporting companies that have faced closure and revenue loss as very/fairly poor, compared to 34% (-1) who rate it as very/fairly good.

Attitudes towards vaccination and the roll-out

Compared to January, a larger proportion of people are satisfied with the vaccine rollout; more than three-quarters of people (76%) are very/somewhat satisfied with the vaccine rollout organised by government and health authorities, compared to 61% last month.

Over six in ten (63%) strongly support/tend to support the introduction of a vaccine passport to allow overseas travel into and out of the UK this summer, but it varies considerably by age: 81% of 65+ strongly support/tend to support, compared with half of those aged 18-34. Further, the public are split about the question of if the vaccine should be compulsory: 44% (-5) think the vaccine should be mandatory, compared to 43% (+3) who think adults should be able to choose.

Less than one in seven (14%) of people say they definitely/probably would not plan to be vaccinated, compared to 17% in January and 23% in December 2020. Of this group, the main reasons given as to why not are:

  • 23% think the threat has been overexaggerated
  • 22% think coronavirus will go away or get less severe on its own
  • 22% say they do not trust the intentions of those creating the vaccines

The study also found that older people are the most positive towards the government’s response to the outbreak:

  • 64% of those aged 65+ think the government are handling the COVID-19 outbreak very/fairly well.
  • 69% of those aged 65+ rate the government positively in how it is communicating information about the coronavirus outbreak.
  • 94% of those aged 65+ are satisfied with the way the government and health authorities have organised the rollout of the coronavirus vaccine so far.

Travel and border controls

In response to the new rules regarding entry into England, almost two thirds (65%) approve/strongly approve of the new quarantine rules for red list countries, although approval varies considerably by age: 86% of those aged 65+ approve, compared with 46% of 18-24-year-olds and 53% of 25-34-year-olds.

Views on back to school plans

With schools in Scotland and Wales beginning to reopen already, and schools in England now due to go back on 8 March, research conducted over the weekend before the England dates were confirmed found that:

  • 61% agree/strongly agree that “the government should prioritise re-opening schools even if this means restaurants, pubs and other non-essential shops have to stay closed”
  • 55% agree/strongly agree that “the government should prioritise re-opening schools even if this means other lockdown restrictions (such as meeting people from other households and travel within the UK) have to be extended”
  • 51% think re-opening schools will be very/fairly safe for teachers, children and their families. However, 35% think it will be not very/not at all safe.

Views on Brexit

Following the terms of the EU-UK Trade and Cooperation Agreement being ratified by UK Parliament at the end of 2020, the public is expecting an impact on their everyday lives:

  • A majority expect their regular food shop to become a bit/much more expensive as a result of Brexit (59%, -9), compared to 4% (-1) who think it will become a bit/much cheaper.
  • 35% (-8) say they are more likely to buy British produce as a result of Brexit, compared to 5% (nc) who say they are less likely to, and 37% (nc) who say there has been no change.

When asked if the UK should apply for EU membership if the general economic situation is much worse in the UK than the EU in five years’ time, 27% (-2) said yes, 17% (+5) said maybe and 33% (+3) said no.

Voting intentions

  • Con 40% (nc vs January 2021)
  • Lab 33% (-4)
  • Lib Dem 11% (+1)
  • Green 6% (+1)
  • SNP 4% (nc)
  • Reform UK (formerly Brexit Party) 3% (+1)
  • UKIP 2% (+1)
  • Plaid Cymru 1% (+1)
  • Other 1% (nc)

Methodological information

The survey data and further details on the methodological approach can be found here. A total of 1,114 interviews were conducted online among adults living in Great Britain between 18 and 22 February 2021. All interviews were conducted as online self-completion. The Kantar online access panel was the main sample source.

The data was weighted to match population totals for age, gender, 2019 General Election voting patterns, 2016 EU referendum voting patterns, education, region, and likelihood to vote in the next General Election. Any use of this research must cite Kantar as the source.

Ogun State Tackles Maternal Mortality, Distribute Tricycle Ambulances To Primary Health Centres (Photos)

Esan Bolaji
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Ogun State Tackles Maternal Mortality, Distribute Tricycle Ambulances To Primary Health Centres (Photos)

As part of efforts to improve the health indices of citizens as well as put an end to maternal deaths and other health emergencies, the Ogun Government has distributed 22 Tricycle to Primary Health Centres across the State.

Commissioner for Health, Dr. Tomi Coker at the distribution ceremony held at the Obas Complex, Oke Mosan, noted that the government identified that 70% of women who died during childbirth was as a result of lack of access to intervention which usually arises due to lack of transportation and access from PHCs to general hospitals, saying the introduction of the Tricycle Ambulances would put an end to future occurrences.
Ogun Tackles Maternal Mortality, Distribute Tricycle Ambulances To Primary Health Centres (Photos) Brandspurng4 Ogun Tackles Maternal Mortality, Distribute Tricycle Ambulances To Primary Health Centres (Photos) Brandspurng4

“We noticed in our mortality review that 70% of deaths that happened among our pregnant women happened because of lack of transportation from PHC to the general hospital when complications occur during childbirth.

To address these issues, His Excellency, Prince Dapo Abiodun took the innovative ideas of introducing Tricycle Ambulance to PHCs particularly in the rural areas where there is difficulty in road access.” She said.

Ogun Tackles Maternal Mortality, Distribute Tricycle Ambulances To Primary Health Centres (Photos) Brandspurng4 Ogun Tackles Maternal Mortality, Distribute Tricycle Ambulances To Primary Health Centres (Photos) Brandspurng4

Also speaking, Commissioner for Budget and Planning, Mr Olaolu Olabimtan who noted that health was one of the three thematic areas of the Sustainable Development Goals (SDG), said that the distribution of the ambulances was facilitated principally by the state government with the support of development partners in the health sector through the office of the Senior Special Assistant to the President on SDG to address the issue of access to secondary health intervention, emphasising that it was the best possible solution to medical health emergencies, especially in the rural areas.

Ogun Tackles Maternal Mortality, Distribute Tricycle Ambulances To Primary Health Centres (Photos) Brandspurng4

In his remark, Commissioner for Local Government and Chieftaincy Affairs, Hon. Afolabi Afuwape who said that the introduction of the Tricycle Ambulance was a good step in the right direction which would help tackle the issue of access to secondary and tertiary health intervention due to the terrain of the rural areas, enjoined health workers to use the ambulances for the purpose to which they were provided.

On his part, Commissioner for Finance and Chief Economic Adviser to the State Government, Mr. Dapo Okubadejo who emphasised that the event was to complement the efforts of the present administration aimed at providing qualitative health for all in the state appreciated Development Partners, Office of the Senior Special Assistant to the President on SDG, Eco Bank, Nigeria and the Majekodunmi Foundation for their support, urging others to join hands with the State Government in improving PHC service delivery.

Nestle Nigeria declares N35.50 dividend to shareholders

Esan Bolaji
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Nestle Nigeria declares N35.50 dividend to shareholders

The directors of Nestle Nigeria Plc in the published Full Year financial report for 2020 have proposed a final dividend of N35.50 to its shareholders, subject to approval at the Annual General Meeting.

This in addition to the interim dividend of N25 that has been already paid to shareholders in the first half of the year 2020.

Nestle Nigeria reported a turnover of N287.084 billion for the 12 months period in 2020, up by 1.07% from N284.035 billion.
Profit after tax of N39.21 billion was achieved by the firm, down by 14.17% from the post-tax profit of N45.68 billion reported the previous year.
Nestle ups shareholding in Nigerian unit, acquires additional 105,000 shares

Earnings per share of Nestle for the period under review dropped by 14.17% to N49.47 from the EPS of N57.63 achieved in 2019.

At the share price of N1, 450, the P.E ratio of Nestle Nigeria Plc stands at 29.31x with an earnings yield of 3.41%.

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