Burberry: Store Sales Decline By 9%

Esan Bolaji
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Burberry: Store Sales Decline By 9%

The UK-based fashion house, Burberry, has announced third-quarter results, marked by a decline in retail revenue. Suffering the impact of COVID-19 in its retail network, comparable store sales declined by 9% in the quarter.

“Despite the challenging external environment, we made good progress on our strategic priorities in the quarter. We saw a strong increase in full-price sales as our collections and communication resonated well with new, younger clientele as well as existing customers.

Our localised plans and digital capabilities helped drive growth in rebounding markets and we implemented our planned reduction in markdown. While the short-term outlook remains uncertain due to COVID-19, we are well placed to accelerate when the pandemic eases”, commented Marco Gobbetti, Chief Executive Officer.

Burberry Brandspurng Store Sales Decline By 9%

Financial Performance

In the third quarter, retail revenue reached 688 million British pounds, going down by 719 million British pounds in a similar period in 2019.

Comparable store sales declined by 9% in the quarter. The underlying performance was strong with full-price growth in the high single-digit percentage range.

This underlying growth was offset by an increase in COVID-19 related trading restrictions, together with the planned reduction in markdown and reduction in tourist traffic in the outlets, in line with the guidance provided in the company’s interim results.

Space growth from new stores and pop-ups contributed 4% to sales and FX an additional 1% with reported retail sales down 4%. COVID-19 related store closures averaged 7% during the third quarter of the current fiscal year.

Asia Pacific comparable store sales increased by 11% with full-price sales ahead of quarter two FY2021 across the region: Mainland China saw strong double-digit growth (similar to the second quarter) in a quarter that has a higher percentage of local sales compared with H1.

Full-price sales increased at a level well above the Mainland China comp growth and strengthened over the prior quarter, driven by both new and existing customers while markdowns were materially lower; Korea continues to perform well with comparable-store sales up mid-teens.

This included a higher growth in full-price sales, significantly ahead of quarter two; Japan and South Asia Pacific continue to be affected by the limited tourist traffic and COVID-19 related store closures.

EMEIA comparable-store sales fell by 37% and continued to see much lower tourist demand. In addition, the region saw the biggest swing in store closures moving from 5% of stores closed in the second quarter to an average of 19% in quarter three.

The Continental European markets saw a small increase in domestic customer demand. Americas comparable-store sales fell 8% with full-price revenues up mid-teens, offset by the planned material reduction in markdowns. Full-price sales continue to be driven by new and younger clientele.

Outlook

With currently 15% of stores closed and 36% operating with reduced hours or restrictions and an uncertain trajectory gave the spread of the more transmissible new variants of COVID-19, Burberry expects trading will remain susceptible to regional disruptions.

In terms of full-year trading, gross margins are expected to benefit from positive full-price, regional and channel mix and lower stock provisions. Cost savings are currently running in line with plan and the company believes they are on track to see inventory below last year’s levels.

Network of Stores

On the 26th of December 2020, Burberry had 215 retail stores, 148 concessions, 57 outlets and 44 franchise stores, excluding pop up stores.

Video Games Revenue to Grow by 14% YoY and Hit $154.6B in 2021

Esan Bolaji
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0
Video Games Revenue to Grow by 14% YoY and Hit $154.6B in 2021
Recent years have witnessed an impressive growth of the video games industry, both in terms of revenue and the number of users. However, the entire sector boomed since the beginning of 2020 as millions of people started spending more time indoors and online amid the ongoing COVID-19 pandemic.

According to data presented by Safe Betting Sites, global video game revenues jumped by 23% year-over-year and hit $135.8bn in 2020. The entire market is expected to grow by another 14% this year and hit a $154.6bn value.

Revenue in the video games segment, from 2017 to 2025 (in billion U.S. dollars)

Video Games Revenue to Grow by 14% YoY and Hit $154.6B in 2021

Mobile Games to Generate 70% of Gaming Revenues this Year

The year 2020 hasn’t been a great year for most industries. Still, for video-game makers like Microsoft, Sony and Nintendo, 2020 brought new sales records as more people turned to console and mobile titles amid the lockdown.

Video Games Market Value to Grow to Over $200 billion by 2023, Despite Declining Purchase Revenue
Photo by Alexey Savchenko on Unsplash

Gaming industry revenues jumped by $25.6bn last year, the most significant annual increase so far, revealed the Statista survey. This figure is expected to grow by another $18.8bn in 2021. By 2025, the video games industry is set to reach $220.5bn value.

As the largest segment of the video games industry, mobile games have exploded amid the coronavirus outbreak. In 2020, gaming apps generated $95.1bn in revenue, 25% more than before the pandemic. This figure is forecast to jump by 15% YoY and hit $109.6bn in 2021. By 2025, the revenues of the global mobile games market are forecast to surge by 46% to $160.6bn.

As the second-largest market segment, online games are expected to hit a $23.6bn value in 2021, an 11% increase in a year. Download games and gaming networks follow, with $18.2bn and $3.1bn in revenue, respectively.

Chinese Gaming Industry Surged by 46% Amid Pandemic; US Gaming Revenues Jumped by 31%

The Statista survey shows the number of users in the mobile games segment is set to reach over 1.7 billion in 2021, almost a 30% increase in two years. Download games are expected to hit over 1.2 billion users this year, 195 million more than before the pandemic. Online games and gaming networks follow with 1.09 billion and 111.3 million users in 2021, respectively.

Analyzed by geography, China represents the world’s largest gaming market, expected to generate $49.3bn in revenue in 2021, or 46% more compared to pre-COVID-19 figures. Statistics indicate the entire gaming sector in the country is set to reach a $71.2bn value by 2025.

The US gaming revenues are forecast to reach $30.3bn in 2021, a 31% jump in two years. By 2025, this figure is set to rise to $42.5bn.

As the third-largest gaming market globally, Japan is forecast to generate $18.2bn in revenue this year. South Korea and the United Kingdom follow, with $6.15bn and $6.14bn, respectively.

UK Buy Now Pay Later Market Worth Grows to $3.7 Billion, Adds 5 Million Users

Brand Spur
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UK Buy Now Pay Later Market Worth Grows to $3.7 Billion, Adds 5 Million Users

The UK’s Buy Now Pay Later (BNPL) market picked up momentum in 2020 and shows no signs of stopping.

According to the research data analyzed and published by Comprar Acciones, the market nearly quadrupled in size in 2020. As of February 2021, it is estimated to be worth £2.7 billion ($3.7 billion).

The shape of disruption in the retail space Brandspurng how it works, how to respond to it, and why it matters

In total, UK households had close to £250 billion in outstanding consumer credit debt at the time. Since the start of the pandemic, around 5 million people have used BNPL services.

However, more than 10% of the customers using the services already had debts elsewhere. According to a BBC estimate, £4 out of every £100 spent in the UK goes to Buy Now Pay Later products.

The services are particularly popular with younger generations. Based on the Woolard Review published by the Financial Conduct Authority (FCA), 25% of BNPL users are aged between 18 and 24 years, while 50% are aged between 25 and 36 years.

Swedish startup Klarna is among the most popular service providers in the market. As a result of the popularity of its services, the tech firm enjoyed unfettered growth in 2020.

After a $650 million round in September 2020, its valuation nearly doubled from $5.5 billion to $10.6 billion. At the time, it was ranked as the highest-valued private fintech in Europe. Moreover, it became the fourth highest-valued fintech globally according to CB Insights.

The highest valued fintech globally is Stripe, a US-based company with a $36 billion valuation. India-based One97 Communications is second, which is valued at $16 billion, while US-based Robinhood is third with $11.6 billion.

Klarna US Users Grow to 15 Million, MAU Surge 204% to 3.5 Million

During the first half of 2020, Klarna’s transaction volume grew by 44% to $22 billion. Its revenue shot up by 36% to $466 million.

As of September 2020, its app had approximately 55,000 daily downloads, marking a 160% year-over-year (YoY) growth. At the time, it had 13 million monthly active users (MAUs), 21 million new consumers worldwide and 57,000 new retail partners.

At the beginning of February 2021, it reported having 15 million MAUs in the US, more than doubling the February 2020 number. Over 1 million new US customers have joined the platform every month since October 2020.

On the Klarna app, there were 3.5 million monthly active users at the end of 2020, marking an increase of 204% YoY. It was one of the top 10 most downloaded apps in the US in Q4 2020, with 60,000 new daily downloads in December 2020.

Klarna was not alone in recording meteoric growth during the pandemic. Afterpay, a fintech company based in Australia, also had a blockbuster year.

For its fiscal 2020, Afterpay reported revenue growth of 97% to 519 million Australian dollars. The gross merchandise value of its US sales during the period soared by 330%. It also doubled the number of its shoppers, rising from 4.6 million to 9.9 million.

Affirm, which had the first major tech IPO in 2021, also grew its revenue by 93% during the year 2020.

eCommerce BNPL Spending to Grow by 400% to $352 Billion by 2025

The BNPL market as a whole is on a rapid uptrend. According to Crunchbase data, 25 companies in the industry have raised a cumulative $1.7 billion in disclosed VC capital since 2016. The January 2021 Affirm IPO accounted for a huge chunk of that, as it raised $1.5 billion.

According to a December Bank of America survey, apps in the BNPL market are set to grow transaction volumes 10 to 15 times by 2025. By that time, they will be processing transactions worth between $650 billion and $1 trillion.

Additionally, an S&P Global report backs up the assertion, projecting a 400% growth of the market by 2025. From a value of $89 billion in 2020, global spending on BNPL via eCommerce is set to rise to $352 billion by that time. 

On the other hand, Business Insider analysts similarly estimate that the BNPL industry will process $680 billion worth of transactions in 2025. That would translate to a compound annual growth rate (CAGR) of 13.23%.

Meanwhile, credit card debt fell to unprecedented lows in 2020 and is expected to keep dropping. For instance, in the US, there was an 11.9% decline in credit card balances for the year according to the Federal Reserve.

Prior to the pandemic, the figure had been growing steadily. In May 2020, it dipped below the $1 trillion mark for the first time since September 2017 and has been on a downtrend since.

Number of People Participating in Football in England Decrease by Almost 20% Since 2016

Esan Bolaji
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Number of People Participating in Football in England Decrease by Almost 20% Since 2016

England is one of the biggest footballing nations in the world both in terms of viewership and participation. Home of arguably the most competitive domestic football league in the world, the English Premier League, and a national side that regularly qualifies for the prestigious World Cup, Football is the most popular spectator sport in England.

However, According to data presented by Safe Betting Sites, in 2020, football participation in England has dropped by 18.8% since 2016.

How Nigerian Fans Should Approach Football Betting Brandspurng
Photo by Mitch Rosen on Unsplash

Participation in Football Down Almost 20% Since 2016

Football is the most followed sport in the world and is largely considered the most popular in terms of viewership. In England, it also has been historically the most popular team sport to participate in.

In 2020, an estimated 1.9M people in England played football at least twice a month. As impressive as that number is it is actually more than 9% lower than in 2019 when 2.6M people participated in football and almost 20% less than 2016’s numbers.

Breaking it down by gender, in 2020 an estimated 1.7M men participated in football which is a significant decrease from 2016. Meanwhile, there was no statistically significant change from women’s participation in football, when in 2020, 204K women participated in football.

Increase Only Seen In Adventure Sports, Combat Sports And Walking Activities; Team Sports Declining

Among different activity groups only three areas saw a significant increase since 2016; Adventure Sports, Combat Sports and Walking activities. Adventure Sports participation increased by 25% since 2016 to 3.5M compared to 2.25M in 2016.

Combat Sports saw an increase of 20% since 2016 for a total of 955K while walking activities increased by 11.4% to 20.38M. Notably, participation in team sports is down to 2.9M in 2020 compared to 3.47M in 2016 – a 16.6% decrease.

Men’s Participation In Team Sports Declining, Women’s Participation In Fitness Related Sports Increasing

Other team sports also suffered a significant drop in 2020 compared to 2016, especially among men. Cricket, for example, suffered a 20% decrease in 2020 compared to 2016, while Basketball (-18.63%) and Volleyball( -35.8%) also significantly decreased in men’s participation but experienced no significant change from women’s participation.

This is in contrast to fitness-related sports that have seen a significant increase in women’s participation since 2016. In 2020, over 5M women participated in fitness classes which is 21.7% of all women respondents. There were also 2.76M women who participated in Gym sessions which make up 12% of women respondents.

WHO launches consolidated guidelines for malaria

Esan Bolaji
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WHO launches consolidated guidelines for malaria

16 February 2021 – The WHO Guidelines for malaria, launched today, bring together the Organization’s most up-to-date recommendations for malaria in one user-friendly and easy-to-navigate online platform.

They are designed to support malaria-affected countries in their efforts to reduce and, ultimately, eliminate a disease that continues to claim more than 400 000 lives each year.

WHO launches consolidated guidelines for malaria Brandspurng
Photo by Егор Камелев

Through the new platform, MAGICapp, users will find:

  • All official WHO recommendations for malaria prevention (vector control and preventive chemotherapies) and case management (diagnosis and treatment). Recommendations for elimination settings are in development.
  • Links to other resources, such as guidance on the strategic use of information to drive impact; surveillance, monitoring and evaluation; operational manuals, handbooks, and frameworks; and a glossary of key terms and definitions.

Users can access the evidence that underpins each WHO recommendation through the new web-based platform. There is a feedback tab to help identify recommendations that may need an update or further clarification, and inputs from stakeholders are also welcome by email (gmpfeedback@who.int).

Delivering timely, evidence-informed guidance

“These consolidated guidelines represent an important step in our efforts to deliver timely, evidence-based guidance to malaria-endemic countries,” said Dr Pedro Alonso, Director of the WHO Global Malaria Programme.

“They will soon become a living resource that is updated periodically as new evidence becomes available, and as WHO guideline development groups bring forward proposals for new or revised recommendations,” he added.

The first version of the Guidelines for malaria – available online only – is a compilation of existing WHO recommendations on malaria and supersedes 2 previous WHO publications: the Guidelines for the treatment of malaria, third edition and the  Guidelines for malaria vector control. 

Four WHO guideline development groups focused on vector control, chemoprevention, treatment and elimination are currently convening to develop new or updated recommendations, and other groups will convene this year to address additional relevant topics.

Recommendations on malaria will continue to be reviewed and, where appropriate, updated based on the latest available evidence through WHO’s transparent and rigorous guidelines review process. Any updated recommendations will always display the date of the most recent revision in the MAGICapp platform.

With each update, a new PDF version of the consolidated guidelines will also be available for download on the WHO website.

Clear, evidence-informed WHO recommendations guide managers of national malaria programmes as they develop policies and strategic plans to combat the disease tailored to the local context; they support decisions around “what to do”.

WHO also develops implementation guidance – such as operational and field manuals – to advise countries on “how to” deliver the recommended tools and strategies.

The consolidation of WHO’s malaria guidelines is one of a number of actions the organization has undertaken in recent years to make its guidance more accessible to end-users in malaria-endemic countries. The overall aim is to deliver timely, high-quality recommendations through processes that are more transparent, consistent, efficient and predictable.

Key definitions

A WHO guideline is defined broadly as any information product developed by WHO that contains recommendations for clinical practise or public health policy.

A recommendation tells the intended end-user of a guideline what he or she can or should do in specific situations to achieve the best health outcomes possible, individually or collectively. It offers a choice among different interventions or measures having an anticipated positive impact on health and implications for the use of resources.

Afro-Tech Girls Hosts Maiden Event To Commemorate International Day Of Women & Girls In Science

Brand Spur
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Afro-Tech Girls Hosts Maiden Event To Commemorate International Day Of Women & Girls In Science

Lagos, Nigeria, 15 February 2021 – Afro-Tech Girls, a non-profit organization focused on encouraging and empowering females in the areas of Science, Technology, Engineering and Maths (STEM), recently hosted a conference, in partnership with IHS Nigeria, to commemorate the International Day of Women and Girls in Science themed ‘Women Scientists at the forefront of the fight against COVID-19.’ 

The conference, which was sponsored by IHS Nigeria, a subsidiary of IHS Towers, hosted female speakers from the medical, science and technology sectors to an interactive session with over 100 participants in attendance online and a further 100 girls from public secondary schools watching from their classrooms.

Afro-Tech Girls Hosts Maiden Event To Commemorate International Day Of Women & Girls In Science

The event was also used as a soft launch of a longer-term partnership between Afro-Tech Girls and IHS Nigeria.

The theme of the event – Women Scientists at the forefront of the fight against COVID-19 – reinforced present challenges associated with the current pandemic and highlighted how women in science are currently playing a critical role to address these challenges. 

Speaking at the launch of the virtual event, Afro-Tech Girls co-founder, Adeola Shasanya, mentioned

“We are grateful for organisations like IHS Nigeria that have committed to improving STEM outcomes in Nigeria particularly within young females. We are confident that their support will go a long way to ensure these females are equipped with the skills required to compete and contribute immensely in STEM-related careers.” 

Speakers at the commemorative event included  – Dr. Ngozi Onyia, MD, Paelon Memorial Hospital;  Ms. Cima Sholotan, Director of Sustainability & Corporate Communications, IHS Nigeria; Ms. Yetunde Adewunmi, PhD, Microbiologist, Wadsworth Center, New York State Department of Health; Dr. Mobola Oyefule, Medical Doctor, Mayo Clinic, Rochester, Minnesota; Dr. Kemi Ezenwanne, Medical Doctor, Armoured Shield Medical Centre;  Ms. Jessica Uwoghiren, Data Analytics Expert; and Ms. Gloria Okereke, Team Lead, Network Operating Centre, IHS Nigeria. 

In addition to key speakers from the event, critical issues faced by young females looking to build careers in STEM were addressed in the hope that confidence and soft skills will be improved to drive more interest and participation amongst young females. 

To find out more about Afro-Tech Girls, please visit www.afrotechgirls.org.

Zedvance Rewards Loyal Customers with Valentine’s Campaign

Esan Bolaji
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Zedvance Rewards Loyal Customers with Valentine’s Campaign

Monday, February 15, 2021: In celebration of love and brand loyalty, leading consumer finance company, Zedvance Finance Limited on Sunday, February 14, 2021, paid surprise visits to some of its customers in Nigeria. Through a specially-designed campaign themed #WithLoveFromZedvance, several customers received exciting gift items in commemoration of the Valentine season.

Zedvance-Rewards-Loyal-Customers-with-Valentines-Campaign-Brandspurng
L-R: Christopher Asuquo, Manager, Public Payroll Lending, Zedvance Finance; Dr. Aramide Adediran, Senior Doctor, Ikorodu General Hospital and Lukmon Oloyede, Head, Product Marketing & Brand Communications, Zedvance Finance during the presentation of Zedvance Valentine Special Gift to Dr. Adediran at her resident in Lagos on Sunday, February 14, 2021. | www.bandspurng.com

Speaking on the campaign, the acting Managing Director of Zedvance Finance Limited, Mr. Ever Obi, said the company is committed to building and nurturing a relationship with each of its customers by offering tailor-made solutions that will help them meet all their financial needs.

“Ours is a relationship that pays. That’s our mantra and we are committed to ensuring that each and every single one of our customers do not have to worry about any financial needs because we have them covered”, he explained.

Zedvance-Rewards-Loyal-Customers-with-Valentines-Campaign-Brandspurng
L-R: Christopher Asuquo, Manager, Public Payroll Lending, Zedvance Finance; Chinenye Ogbu, Product Management Associate, Zedvance Finance; Dr. Olanipekun Emmanuel Olushola, Senior Veterinary Doctor, General Hospital, Badagry and Lukmon Oloyede, Head, Product Marketing & Brand Communications, Zedvance Finance during the presentation of Zedvance Valentine Special Gift to Dr. Olushola at her resident in Lagos on Sunday, February 14, 2021. | www.wordpress-1516176-5827464.cloudwaysapps.com

“Valentine’s season gives us another opportunity to show love to our customers and reward their loyalty for having us as their preferred financial partner. We all love surprises, don’t we? We created the campaign to thank our customers for their commitment to Zedvance Finance.”

Some of the customers that received the company’s special gifts include Dr. Ogunbowale Matthew, Senior Doctor, Ikorodu General Hospital; Dr. Aramide Adediran, Senior Doctor, Ikorodu General Hospital; Dr. Olanipekun Emmanuel Olushola, Senior Veterinary Doctor, General Hospital, Badagry; Chief Liadi Oladapo Atinshola and Mr. Luqman Adedotun Adebayo, Pathologist at Lagos University Teaching Hospital.

Dr. Olanipekun Olushola during the visit commended Zedvance Finance for its efforts in bridging the credit gap in Nigeria. “Giving is a practical demonstration of love. I am so grateful for this show of love by Zedvance Finance and we all appreciate the company’s efforts towards promoting access to credit in Nigeria”, he said.

Dr. Aramide Adediran in her comment also thanked the company for its quick loan disbursement time which has always helped her meet urgent needs whenever she applies for a loan. “I appreciate the fact that Zedvance has never disappointed me. I will recommend Zedvance to anyone that needs a reliable financial partner”, she revealed.

Chief Liadi Oladapo Atinshola also applauded the excellent customer service experience offered by Zedvance Finance describing it as “seamless and impressive”. He urged the company to continue its excellent service delivery.

Zedvance loans are available to both salary-earners and non-salary earners in Nigeria. Customers can access Zedvance loans through different digital channels including website www.zedvance.com, Moneypal mobile app (available on Google Play), by chatting Zee on 09060003933 and phone call to the Customer Service Centre on 07001001000.

British Airways Partners With Reckitt Benckiser As Part Of Its Ongoing Commitment To Help Keep Customers Safe

Esan Bolaji
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British Airways Partners With Reckitt Benckiser As Part Of Its Ongoing Commitment To Help Keep Customers Safe

16 February 2021 – British Airways has today announced it will be partnering with trusted and iconic hygiene brand Dettol, the UK’s no. 1 disinfection brand as part of its ongoing commitment to help keep its customers and colleagues safe.

From March 2021, British Airways’ customers will have access to a range of Dettol products, that are proven to kill 99.9% of bacteria and Coronavirus (SARS-COV-2)2, in the air and on the ground.  The airline’s updated cleaning protocols using Dettol products have been supported by the London School of Hygiene and Tropical Medicine.

British Airways Partners With Reckitt Benckiser As Part Of Its Ongoing Commitment To Help Keep Customers Safe Brandspurng

At Heathrow Terminal 5 Dettol hand sanitiser stations will be positioned at all check-in desks, self-service bag drop, lounges and at departure gates, replacing the current sanitisation stations with Dettol products. The airline will also use Dettol antibacterial wipes, cleaners and sprays to keep surfaces clean at the airport and in its lounges.

In the air, British Airways will be introducing a Dettol antibacterial hygiene wipe. Each customer will be handed a packet containing the wipe as they board the aircraft.

British Airways Partners With Reckitt Benckiser As Part Of Its Ongoing Commitment To Help Keep Customers Safe Brandspurng

Carolina Martinoli, British Airways’ Director of Brand and Customer, said:

“As we look forward to welcoming our customers back on board, we are proud to announce our partnership with Dettol, a trusted and well-known disinfection brand. At the start of the pandemic, we introduced a number of protective measures at each step of the customer journey, and we think our partnership with Dettol is a great addition.”

Rahul Kadyan Executive Vice President of Global Business Solutions for Reckitt Benckiser (RB) said:

“Our collaboration with British Airways is exciting since we both share the same objective to help protect travellers. This is an ideal partnership for RB, and Dettol, to help drive high standards in hygiene and reassure consumers they can enjoy the British Airways experience.

Our brand is built on trust, scientific efficacy and our desire to educate consumers around the world to help break the chain of infection.”

Professor James Logan, a member of the London School of Hygiene & Tropical Medicine, said:

“Health-based cleaning protocols and additional personal safety measures are one of the critical tools as we all work to re-open business and travel around the globe. We are proud to bring our expertise and knowledge to the COVID-19 response on a national and global scale. At the London School of Hygiene & Tropical Medicine, we are pleased to work with British Airways and RB employees to advise them on the programme.”

Safety is at the heart of British Airways’ business. Alongside the introduction of Dettol products at the airport and on board, the airline continues to implement a range of measures that it requires customers and colleagues to observe, which include:

  • Observing government regulations around advice around travel
  • Asking customers not to travel if they think they have any symptoms of Covid-19
  • Wearing facemasks and bringing enough to replace them every four hours for longer flights
  • Checking-in online, downloading a boarding pass to a mobile device where possible for self-scanning at security and the departure gate
  • Observing social distancing and using hand sanitisers that are placed throughout airports
  • Asking customers to ensure they have everything they need from their hand luggage before departure, and where possible, storing their carry-on bag under the seat in front of them
  • Cabin crew wearing PPE and a new food service, which reduces the number of interactions required with customers

The airline is cleaning all key surfaces including seats, screens, seat buckles and tray tables after every flight and each aircraft is completely cleaned from nose to tail every day. The air on all British Airways flights is fully recycled once every two to three minutes through HEPA filters, which remove microscopic bacteria and virus clusters with over 99.9% efficiency, equivalent to hospital operating theatre standards.

January Inflation Rate Jumps to 16.47% on Food, Core Inflation

Cowry Research
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January Inflation Rate Jumps to 16.47% on Food, Core Inflation

Freshly released data from the National Bureau of Statistics showed that headline inflation rose to 16.47% in January (higher than 15.75% printed in December). The increase in the inflation rate was caused by a persistent increase in average food prices and non-food prices.

Food inflation spiked to 20.57% (from 19.56% in December) driven by rising in prices of bread, cereals, potatoes, yams and other tubers, meat, fruits among others.

Imported food index also upped to 16.70% (higher than 16.64% in December) despite the appreciation of the Naira at the parallel market – specifically, two months moving average foreign exchange rates at the Parallel market fell y-o-y by 0.02% to N474.70/USD in January 2021.

Core inflation climbed to 11.85% (from 11.37% in December) as healthcare and transport costs continued to surge at their fastest annual rates in short term sequence to 14.55% and 13.55% respectively amid the rising cost of medical services, hospital services, pharmaceutical products and paramedical services as well as fuel costs for passenger transport.

Nigeria's Inflation Rate climbs 14.23%, highest since Feb-2018 Brandspurng1
Abeokuta, Nigeria
Woman selling pepper sits over her wares in a market. | Image Credits: Omotayo Tajudeen

Urban and rural annual inflation rates rose higher to 17.03% and 15.92% respectively.

On a monthly basis, headline inflation moderated to 1.49% in January (from 1.61% in December) driven by a slower increase in food inflation to 1.83% (from 2.05% in December) as the yuletide seasonal effect came to an end in January and as the land borders were re-opened.

However, Core inflation rose to 1.26% ( from 1.10%) amid monthly increase cost of petrol and healthcare services.

Outlook:

We expect general price level to increase further in the next few months as the sowing season begins when food stockpiles are expected to decline even amid the disruptive insecurity in food producing parts of Northern Nigeria.

Also, core inflation is expected to continue its ascent, driven by higher pump prices given the sustained rally in crude oil prices.

FGN Should Leverage Konga Group For Vaccine Distribution

Esan Bolaji
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FGN Should Leverage Konga Group For Vaccine Distribution

The business side of the Pandemic? Covid-19 is transforming itself from the ‘Bad, the Ugly and the Good’ – into the Business-of Things. This is within the background of the arrival of several types of Covid-19 Vaccines around the world, many weeks ago.

Indeed, the epicentre of global challenges and business opportunities has moved from the ugly pandemic scenario of 2019-2020 to the commercial business of Covid-19 vaccine implementation ecosystem.

FGN Should Leverage Konga Group For Vaccine Distribution Brandspurng

All over the world, business leaders and policymakers leverage condensed real-time data and information to achieve trustworthy entrepreneurial business opportunities, values, and equitable corporate governance for sustainable trade and business assurances – going forward to Covid-19 version 2.0.

Emerging research outcome from the analysis of content and thought-process of vision-bearers, investors, innovative people, business analysts is fostering a new evidence-based and real-time business model.

This model is energized by Covid-19 version 2.0, with a different type of condensed challenges. The new challenge is returning the world to the routine of the normal way of life.

Therefore, what do we do when the vaccines arrive in Nigeria? 

Implementing a national vaccination rollout plan is not a child’s play. It demands a colossal high-level logistics know-how and high-end professional skillsets at all levels of the rollout spectrum.

When will the pandemic end? Seriously speaking, no one knows. Some forecast estimated 2023, 2026 and some beyond those dates. The focus of this piece is to ensure that Africa is not left out of the big-pie and disconnected from the post-pandemic business network.

FGN Should Leverage Konga Group For Vaccine Distribution Brandspurng

Rather, African businesses should explore and gain real-time business insights, benefits and profitability assurances from the value chains of the vaccine-propelled global commerce.

The challenges in implementing the Vaccine-to-the-Arm project comes with its complexities of risk factors and requires seamlessly connected business-chain logistics and distribution networks for effective delivery.

Some call it e-Commerce task systems, others call it superlative e-platform. Anticipating the challenges which the COVID-19 vaccine distribution pose to Nigeria and Africa means we seriously need experienced organisations to deliver our vaccine. Luckily, research shows that Nigeria has reliable inter-connected combinations of all the above.

One out of the mega-pack is the Konga Group. 

Effective implementation model has shown that, no one company has the capacity and capabilities to effectively implement the COVID-19 vaccination challenge. The most effective working model is what is classified as ‘Collaborative Resilience’.

A common operating model of COVID-19-vaccine delivery, shown in the interactive graphics from McKinsey and Co, below, clearly demonstrates the complexity of the task at hand.

Essentially, the interactive is a qualitative risk map, showing the many stages of vaccine deployment and highlighting areas of potential failure as one party interacts with another. A breakdown at any point in the deployment process can set off a cascade, shutting down the entire operation! 

Today, Konga has become one of the acclaimed global digital brands in a class of its own – navigating the mega-business world at 360 degrees. I found this truth after many months of conventional e-business research – with a particular focus on Nigeria and Africa e-Commerce space.

Konga commands the nationwide reach with its own quality infrastructure, digital logistics and tracking technologies for last-mile delivery.

When the COVID-19 vaccine comes, how will it be put into the arms of an estimated 170 million Nigerians who need it? How will the logistics be provided and who will manage the implementation logistics? Who has the best infrastructure and experienced manpower to secure and deliver the best result, similar to the INEC electioneering challenges and experiences of 2014 and 2009?

Lessons learned to suggest that Corona-19 pandemic has become the greatest challenge faced by humanity in the last 100 years to date. It reveals that many nations are still deficient in developing and managing critical information and logistic infrastructures (CILI) at real-time levels.

This is primarily due to our collective ignorance in understanding the work-around of the digital connectedness of our world, the imperatives of networked data efficiency, infrastructure and information systems.

In effect, many millions of the world’s citizens have been sent to their untimely death. Regrettably, many citizens will still die if the arrival, distribution, and vaccination of the vaccines are ignorantly managed by inexperienced entities, with poor infrastructure and logistics. Truth is, there would be points of failure and our primary goal is to reduce the points of failure.

Here is my take: First, the bad news:- COVID-19 pandemic has hit semiconductor chips manufacturing industry very hard. This situation is expected to worsen as companies battle for supplies of the critical parts.

According to AlixPartners, the shortage will cut $60.6 billion in revenue from the global automotive and associated industries this year. The broader implication is that most business survival is an evolving collaborative model of survival.

Considering the fact that, the world will need to deliver about 6 x 2 billion doses of vaccine into the arms of the targeted six billion of the global human population of 7.3billion people, and that Nigeria’s share of the task would require her to deliver about 160 x 2million (or 320million vaccines to the arms of 160 million eligible Nigerians), we must be on top of the game.

Point-to-point Data communications efficiency is not only imperative but mandatory to augment efficiency. The biggest challenge in responding to the implementation of the COVID-19 vaccines resides in its logistics know-how, storage, distribution systems safety, communications logistics and security know-how.

The Federal Government is therefore advised, apart from landing the vaccines and related operational apparatus into the country, to draw up a national rollout strategic plan, commission experienced logistics e-Commerce company like Konga.com group, with its own nationwide quality infrastructure, digital logistics and tracking technologies with performance assurances to ensure that the expected collateral damages are eliminated and/or reduced to the barest minimum.

Vaccine delivery, storage and distribution come with high-end safety and logistic issues. Reliable data analysis reveals that the Covid-19 vaccine procurement and distribution assignment should be classified as a national emergency challenge.

The assignment is required to be handled with care and professional ability. Therefore, before the anticipated COVID-19 vaccines arrive in Nigeria, indigenous experienced logistic companies with track records similar to/or better than that applied to deliver the 2014 and 2010 INEC national election mission should be consulted and signed on to ensure quality performance.

Konga remains our best indigenous e-Commerce logistics company, comparable in facility management, infrastructure and top-skill professional project management. Not only that, amongst others:

  • They possess the cognate experience and ingenuity for success
  • With our climatic conditions, Konga Group has the capability and can in few days create vaccine storage capacity and commensurate transportation logistics to deliver the strategic imperatives
  • Records show that Konga has digital 360 Blockchain-enabled warehouses with 24/7 uninterrupted power supply and Interstate Tier 3 Level security monitoring/tracking system
  • Also, her AI-controlled warehousing inventory systems should be prioritized in the decision-making process. Fake vaccine and syringes control monitoring system is essential
  • Internet of Things (IoT) alarm-based embedded time clock would be installed in all vaccine delivery packages to monitor the date of expiration of each vaccine pack and syringes

After exploring the Oracle side-of-things, I have become deeply aware of the fact that the nation is really fighting a war with an invisible enemy. Alarmed on the above challenges and how to conquer them, I turned to the grapevine for the most efficient smart and dependable solutions providers.

From all the nooks and crannies, the consensus is that the most experienced tech platforms accredited with high-breed global standard performance should be listed to handle and deliver the required services.

Especially those who were responsible for delivering superlative end-to-end services to INEC, during the elections, when procurement, logistic and delivery were the hallmark of success.

With this, the vaccine implementation experience in Nigeria will undoubtedly benefit the rest of Africa.

Written By: Dr. B. B Usman – Business Analyst

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