Uber to acquire alcohol ecommerce platform Drizly for around USD1.1bn

Esan Bolaji
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Uber to acquire alcohol ecommerce platform Drizly for around USD1.1bn

Uber Technologies, Inc. and Drizly today announced that they have reached an agreement for Uber to acquire Drizly for approximately $1.1 billion in stock and cash.

Drizly is the leading on-demand alcohol marketplace in the United States, available and designed to be fully compliant with local regulations in more than 1,400 cities across a majority of US states. Drizly works with thousands of local merchants to provide consumers with an incredible selection of beer, wine, and spirits with competitive, transparent pricing.

Uber to acquire alcohol ecommerce platform Drizly for around USD1.1bn BRANDSPURNG

After the completion of the transaction, Drizly will become a wholly-owned subsidiary of Uber. Drizly’s marketplace will eventually be integrated with the Uber Eats app, while also maintaining a separate Drizly app.

Drizly plans to innovate and expand independently in its fast-growing and competitive sector, while also gaining access to the advanced mobile marketplace technologies of the world’s largest food delivery and ridesharing platform.

Merchants on Drizly will be able to benefit from Uber’s best-in-class routing technology and significant consumer base. Delivery drivers will have even more ways to earn. And Uber’s rewards and subscription programs will be able to deliver even greater value to consumers with new benefits and perks on Drizly.

“Wherever you want to go and whatever you need to get, our goal at Uber is to make people’s lives a little bit easier. That’s why we’ve been branching into new categories like groceries, prescriptions and, now, alcohol.

Cory and his amazing team have built Drizly into an incredible success story, profitably growing gross bookings more than 300 percent year-over-year. By bringing Drizly into the Uber family, we can accelerate that trajectory by exposing Drizly to the Uber audience and expanding its geographic presence into our global footprint in the years ahead,” said Uber CEO Dara Khosrowshahi.

“Drizly has spent the last 8 years building the infrastructure, technology, and partnerships to bring the consumer a shopping experience they deserve. It’s a proud day for the Drizly team as we recognize what we’ve accomplished to date but also with the humility that much remains to be done to fulfil our vision.

With this in mind, we are thrilled to join a world-class Uber team whose platform will accelerate Drizly on its mission to be there when it matters—committed to life’s moments and the people who create them,” said Drizly co-founder and CEO Cory Rellas.

Uber currently anticipates that more than 90 percent of the consideration to be paid to the Drizly stockholders in the transaction will consist of shares of Uber common stock, with the balance to be paid in cash. The acquisition is subject to regulatory approval and other customary closing conditions and is expected to close within the first half of 2021.

How the modern internet is helping connect Africans to the global digital marketplace

Esan Bolaji
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How the modern internet is helping connect Africans to the global digital marketplace

Internet access is growing in Africa following years of the continent being shut out. More and more middle-class Africans, especially in northern states are enjoying the ability to connect and engage with the rest of the world.

The advantages here are numerous. Being able to connect with businesses and brands internationally creates working opportunities and allows trade relationships to be established and nurtured. The benefits are mutual, too, with companies overseas gaining access to new audiences and resources.

It is also unlocking a new world of entertainment for Africans and helping them connect with the latest events and releases. No longer are the continent’s citizens playing catch-up. In this article, we will explore the platforms promoting this trend.

How the modern internet is helping connect Africans to the global digital marketplace Brandspurng
Source: Pexels

Mobile phones

The launch of the iPhone in 2007 proved to be a game-changer for the internet and how it is accessed. The device allowed users the ability to access a service that closely resembled the ‘full’ internet and forced the world’s biggest brands to change how they present their services online.

The cost of the iPhone and similar high-end devices originally made them unattainable for the majority of Africans. But fast-forward 14 years and there is a range of smartphones available for a far lower outlay. This has proved to be an encouraging development for lower-income citizens and enabled many to use the internet for the first time.

Accessing the mobile internet provides access to services like email and online banking, which naturally are crucial tools for doing business internationally. With connection speeds improving all the time, and hacks for getting the best out of your device, more and more Africans are going online in this way.

Social media

Social media has proven to be a hugely powerful platform for engagement. Channels like Facebook and Twitter bring together many of the world’s biggest brands and services in one easy-to-access place.

The channels also allow Africans to easily stay in touch with one another, including sharing photographs, videos, updates and exchanging messages. ‘Lite’ versions of the apps don’t require fast connections or powerful devices to use.

Sports fans are also able to stay up to date with the latest news and content from their favourite teams, as well as purchase merchandise and access to watch matches. Social media provides a natural point of engagement beyond each club’s individual website

Browser technology

Strides forward in browser technology have had a major impact for many operators in the digital marketplace. For example, in the gambling sector, brands are able to deliver a much more comprehensive service right in the browser window, with no app or plug-in downloads required.

Sticking with the sports theme, bettors looking for odds on different sports can enjoy live odds that change before their eyes, up-to-the-minute updates on sporting events unfolding and special offers that update at various intervals during matches. Africa also happens to be a major expansion market for betting brands.

The technology is also a big benefit for Africans accessing online. Being able to deliver content within the browser is important for users using lower-end devices that don’t necessarily have the storage or processing power to run multiple apps or plug-ins.

How the modern internet is helping connect Africans to the global digital marketplace Brandspurng1
Source: Pexels

As we can see, the introduction of several new innovations, particularly during the last 15 years, has helped make it easier than ever for Africans to stay connected. It’s clear, too, that the continent is seen as a key target for brands and developers to hit in the years to come.

Access Bank Partners with American Express to expand the Acceptance of Cards in Nigeria

Esan Bolaji
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Access Bank Partners with American Express to expand the Acceptance of Cards in Nigeria

Access Bank Plc has partnered American Express to broaden the acceptance and usage of American Express cards. Mr Robert Giles, Senior Banking Advisor Retail Banking, Access Bank, made this known in a statement on Wednesday in Lagos.

Giles stated that the partnership would enable American Express Cardholders to use their cards at a wider range of merchant locations in Nigeria for tourism, business or private visit. He said international American Express cardholders would also be able to withdraw cash from Access Bank ATMs.

Access Bank made N102.30bn Profit After Tax in Q3-2020

This partnership will enable American Express Cardholders to use their cards at a wider range of merchant locations when they spend time in Nigeria for tourism, business or visit friends and family. International American Express Cardholders will also be able to withdraw cash from Access Bank ATMs.

Local merchants will now have the option to accept American Express through Access Bank, thereby not only encouraging increased merchant business activity but also offering travelling American Express Cardholders the opportunity to transact using their preferred method of payment.

This new partnership will broaden the acceptance of American Express payments via Access Bank as well as Access Bank ATMs and eCommerce websites nationwide. Many global organisations use American Express Corporate Cards as well as their employees who use these products for personal and business transactions.

When international travel recovers, many corporate Cardholders travelling to Nigeria for business are therefore likely to seek merchants that accept American Express, presenting an opportunity for those businesses that welcome the Card. Consequently, Access Bank merchants who welcome the use of American Express cards will benefit from an additional high-spending customer base.

Robert Giles, Senior Banking Advisor Retail Banking, Access Bank said: “We are proud to be partnering with American Express to bring some of the best payment solutions in the world to Nigeria. Access Bank has the largest and most accessible ATM network in the country, a leading payments business with over 16 million cardholders and a huge acceptance network both online and point of sale.

The benefits will be immediate as soon as travel resumes. We expect significant demand for American Express acceptance in the country, and business travellers and tourists from across the globe will now be able to use the card of their choice.

This is great news for Nigerian businesses and will help bring foreign exchange inflows into the country. We value the confidence that American Express has placed in us to significantly enhance the payment experience in our market.”

Vivi Galani, Vice President EMEA Network Partnerships for American Express said: “We are pleased to be partnering with Access Bank to continue to expand the presence of American Express in Nigeria, which is an important location for our travelling cardholders and a fast-growing market for commerce.

This agreement will give international Cardmembers even more locations to use their cards in Nigeria, whether they are travelling for business or leisure, and this will be particularly important as international travel resumes. For local merchants, it provides the opportunity to capture more business from global cardholders visiting the country.”

Tony Elumelu Foundation Seeks Africans for its 2021 TEF Entrepreneurship Program Application

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Tony Elumelu Foundation Seeks Africans for its 2021 TEF Entrepreneurship Program Application

…world-class business training, mentorship, non-refundable seed capital up to $5,000, and global networking opportunities 

The Tony Elumelu Foundation (TEF), Africa’s leading philanthropy dedicated to empowering African entrepreneurs, is currently running applications on its TEFConnect digital platform till March 31, 2021, for its 2021 TEF Entrepreneurship Programme.

This year’s intervention prioritizes the economic recovery of small and medium scale enterprises (SMEs) and young African entrepreneurs, following the Covid-19 disruption to economic activities.

Tony Elumelu Foundation, African Entrepreneurship Programme

To address the unique challenges arising from the pandemic, lift millions out of poverty and create sustainable employment across the continent, the Foundation’s Entrepreneurship Programme will empower 1,000 young African entrepreneurs, selected from the 2020 cohort.  The Foundation will also open applications to an additional 2,400 young entrepreneurs in 2021, in collaboration with global partners.

The Tony Elumelu Foundation, which celebrated ten years of impact in 2020, is empowering a new generation of African entrepreneurs, through the TEF Entrepreneurship Programme.  Successful applicants receive a world-class business training, mentorship, non-refundable seed capital up to $5,000, and global networking opportunities.

The Programme is open to entrepreneurs across Africa, both new start-ups and existing young businesses, operating in any sector.

CEO of the Tony Elumelu Foundation, Ifeyinwa Ugochukwu stated,

“The Tony Elumelu Foundation now more than ever is demonstrating our commitment to unleashing the potential of young African entrepreneurs, the key to Africa’s long-term economic transformation.  

The pandemic has created challenges across the continent, but we know that with the Tony Elumelu foundations tried and tested Programme, we can execute the largest Covid-19 economic recovery plan for African SMEs and break the cycle of poverty in Africa.” 

tony-elumelu-foundation-brandspurng

The Tony Elumelu Foundation’s $100million Entrepreneurship Programme, launched in 2015 to empower 10,000 entrepreneurs over 10 years, is now entering its 7th year and has empowered to date, over 9,000 young African entrepreneurs from 54 African countries. Prospective applicants should apply to the digital networking hub for African entrepreneurs, www.tefconnect.com.

Nigeria’s sports need honest leadership, not system, to grow

Esan Bolaji
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Nigeria’s sports need honest leadership, not system, to grow

Majority of the countries in Africa are classified as third world or developing nations. This is consequent on the high poverty rate and low standard of living among other factors. Interestingly, this classification also seems to hold in terms of sporting performance. In global sporting events such as the FIFA World cup or the Olympics, the medals table is usually dominated by the developed nations. This has almost created a feeling that athletes from continents like Europe and the Americas are somewhat superior to those from Africa or Asia since they are ahead in almost every index of growth and development. Using the example of Nigeria, the main factor responsible for the disparity in achievement is mostly administrative in nature. There is a dearth of quality leadership in African sports and this is often responsible for the subpar performances recorded at global competitions.

The Importance of a Functional Sports Commission

One of the ways to replicating success is by following the example of successful nations. One glaring shortcomings of African sports is either the outright lack of a sporting commission or the comatose state of the commission if in existence. The National Sports Commission was established in 1971 and this coincided with some of the brightest eras in Nigerian sports history. Up till the early 2000s, Nigeria was represented in most global sporting events. The National Sports Festival which was organized by the commission was an avenue for budding sports stars to be identified that could then be further trained and sent to represent the country at global events. Really, in a country with a reported 180 million population of which majority are also reported to be youths, failure at sporting events only reflects the lack of leadership on the path of the leaders.

The National Sports Commission was scrapped by the immediate past Minister for Sports and Youth Development, Mr. Solomon Dalung in what was a blow to the development of sports in Nigeria. In a nation where issues such as poor management of sporting facilities, camping for sporting events, and payments of allowances for athletes remains an issue, what is required is a functional sports commission rather than the abolishment of such a body. A cursory look at the representatives of other nations in sporting events especially athletics championships; there is a likelihood of finding an athlete with Nigerian heritage representing other nations. This is not exactly surprising as expected as they are the natural consequence of mismanagement of human and material resources.

Character and Expertise over Nepotism

For anyone familiar with Nigeria, two of the major factors that have stifled the growth of the nation are corruption and nepotism, and in more than one way, the two are actually synonymous with each other; where you have one the other will likely be present.  For the glory days to return, the sports commission needs to be revamped with astute sports administrators put at the helm rather than loyalists and cronies of the ruling party. There are certain positions that should not be politicized and the headship of the sports commission should be counted in this number. Men and women with a track record should be given the job and issued a target and vision to work with if we are really serious about revitalizing sports in Nigeria.

Grassroots Development

The pathway to greatness will come from paying attention to grassroots development. Nigerians in rural areas with sporting potentials should be given just as much attention as their colleagues in the urban areas of the country. Prejudicial factors such as ethnicity, religion, economy, and social status should be ignored in the selection of athletes. After all, it is evidently clear that Nigeria can only do well at continental and global competitions if we pick the best candidates.

Sports is an industry and it is one that can impact the economy if well developed especially considering that it relates directly to the youths. Hence why it needs to be given detailed attention to help grow the economy. The revitalization of sports will foster unity in a multiethnic nation like Nigeria. Betting companies that are also taxed by the government stand to benefit. If Africa is to be truly great, then sports will play a great role. Betting companies operational in Nigeria are too saturated with foreign-based competitions with little attention to Africa based competitions. Sports is not just a recreational activity, it has risen to become an industry that can benefit the fledgling African economy. Nigeria is a sports-loving nation and this can be justified by the high number of betting companies and the patronage they enjoy among the youths. It is not even clear if sports betting is acceptable all over the continent, hence questions such as is sports betting legal in South Africa tend to rise. Although these questions and many more questions are yet to wag on the tongues of concerned citizens. With a poor system and leadership, the day of repercussion is more evident than we can imagine.

Standard Chartered host client conference on AfCFTA; focuses on implications of a Single Continental Market for Nigerian Businesses

Esan Bolaji
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Standard Chartered host client conference on AfCFTA; focuses on implications of a Single Continental Market for Nigerian Businesses
Lagos: February 2021 – As part of Standard Chartered’s knowledge, capacity building and developmental initiatives across its local markets, Standard Chartered Bank Nigeria (SCB) hosted a virtual conference for clients and stakeholders on 21st January 2021.

The conference was organized to discuss the Implications of a Single Continental Market for Nigerian businesses on the back of the launch of the African Continental Free Trade Area (AfCFTA) Agreement on 1st January 2021.

The virtual conference was a unique opportunity for the Bank to re-reinforce its brand promise and commitment to driving commerce and prosperity across Africa which remains a strategic region for the Banks for trade and investments priorities.

Standard Chartered Launches the 2nd edition of its Women in Tech programme to support Nigerian Female Entrepreneurs Brandspurng

AfCFTA is expected to facilitate the creation of a single continental market for goods and services with free movement of people and investment capital, thus deepening economic integration of member countries and expanding intra-African trade across the continent.

Experts believe that full implementation of the agreement will provide growth opportunities for entrepreneurs and businesses, boost industrialization, increase investment opportunities and technology transfers. 

The conference provided a platform for major Multinationals, International Corporates, Industry Experts, Policy Makers, Regulators and other stakeholders in Nigerian to garner new perspectives on the opportunities for the economics of scale, industrialization, investment flows, human capital development and business expansions as well as potential challenges that the Africa Continental Free Trade Area (AfCFTA) agreement may portend for the Nigeria business environment. 

Lamin Manjang (CEO, Standard Chartered Bank) stated that

“Full implementation of AfCFTA could provide a lever to mitigate the effects of the Covid-19 pandemic and help move millions out of poverty by 2025. SCB combines its local knowledge and tracks record in 15 African markets with a global network spanning more than sixty countries and continuous investment in products and services, making us the ideal partner for clients.” 

Presenting the keynote speech on “Implication of a single continental market for Nigerian Businesses’’, Razia Khan (Chief Economist for Africa and the Middle East, Standard Chartered Bank) said

“AfCFTA presents an opportunity for the Nigerian Economy to move away from oil dependency and put in place meaningful diversification which will impact policies as well as the FX regime. The Nigerian Economy’s advantage is its scale, as it makes development more rapid than other African counterparts. The key to leveraging this is finding the right synergies.” 

Ibiyemi Okuneye (Head, Transaction Banking, Standard Chartered Bank) also reiterated that

“The successful implementation of the agreement will require collective partnerships and co-operation between the public and private sector as AfCFTA is not just about moving goods and services, but about moving the entire continent forward for industrialisation and economic growth.” 

The speakers comprised of intellectuals from corporate and government institutions namely: 

  • Alhaji Jibrin Apeh Salifu (Deputy Director, Trade and Exchange Department, Central Bank of Nigeria), 
  • Mr Ayalogu Anthony (AG, Comptroller, Trade Facilitation, Nigeria Customs Service), 
  • Professor Jonathan Aremu (International Economic Relations at the Covenant University, Nigeria), 
  • Alhaji Sada Ladan-Baki (GED International Trade & Export Dangote Industries Limited), 
  • Mr Bamidele Ayemibo (CEO, 3T IMPEX, Trade Academy), 
  • Omolara Adenusi (Head, Cash Management at Standard Chartered Bank) and Sola Bakare (Head, Global Subsidiaries at Standard Chartered).

The speakers shared important and useful insights on how AfCFTA will facilitate opportunities for infrastructure development and economic transformation of Africa and Nigeria in particular. 

Standard Chartered’s strategic purpose is driving commerce and prosperity through our unique diversity across emerging markets we operate (Asia, Africa and the Middle East).

It’s extensive experience and unrivalled track record of working with corporates across Africa sub-region continues to position her as the best-suited partner in harnessing the full benefits of AfCFTA.

West African Consumer Sentiment Presents More Positive Picture – Nielsen

Esan Bolaji
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West African Consumer Sentiment Presents More Positive Picture – Nielsen

Lagos, 3 February 2021 – Against the backdrop of the ongoing COVID-19 pandemic, the NielsenIQ Consumer Confidence Index (CCI) for West Africa has presented a more positive picture in Quarter 4, 2021 with Nigeria CCI at 114, reflecting a slow but steady return to levels above 120 seen during 2019, while Ghana continues to show an improvement to its current CCI of 123.

NielsenIQ West Africa MD Ged Nooy comments;

“As the largest economy on the continent, Nigeria has managed to keep its COVID-19 infection rate relatively low in proportion to its 206-million population, however, its macro-economic prospects have been dampened by lower oil prices, increased food prices and rising inflation, together with a 50% VAT increase in 2020. Despite these challenges, Nigerian consumers remain upbeat about their prospects.”

African Lady Wearing Face Mask Buying Food In Supermarket
Grocery Shopping. African Lady Wearing Face Mask In Supermarket Buying Food Walking With Shop Cart In Groceries Store Indoors. Shopper, Female Buyer Customer Concept. | www.brandspurng.com

This has seen improved confidence around job prospects, with 58% of consumers saying they will be good or excellent in the next 12 months – a 3-point increase from the previous quarter.

In terms of the state of their finances over the next 12 months, 78% say they will be excellent or good, showing a substantial 11 point increase from the previous quarter. Nigerians’ propensity to purchase has unfortunately seen a 13 point decrease to just 27% of Nigerians who think now is a good or excellent time to purchase what they want or need.

In terms of whether they have spare cash left after paying for essentials, 26% of Nigerians say yes, down seven points from the previous quarter. Once they meet their essential living expenses, however, the highest number of consumers (78%) put their spare cash into savings, followed by 73% who spend it on home improvements and 61% who invest in stocks and mutual funds.

Squeezed wallets

Despite their more positive medium to long term outlook, their wallets remain tight with 80% of Nigerians saying they have changed their spending to save on household expenses compared to this time last year.

To reduce expenses, the highest number of consumers (73%) said they have deferred the replacement of major household items, 63% are spending less on out of home entertainment and 56% less on at-home entertainment.

Looking ahead, the top Nigerian consumer concern over the next twelve months is their children’s education and welfare at 22%, increasing food prices (16%) and the economy at 11%. Within this context, these drops reflect consumers’ confidence in the macro picture in terms of food inflation and overall economic performance.

A subdued outlook

Looking at Ghana’s performance, increased consumer confidence during the last two quarters has seen its overall index rise to 123.

Fortunately, Ghanaians are still fairly optimistic in terms of their job prospects with 67% saying they will be good or excellent in the next year. In terms of the state of their finances over the next 12 months, 74% say they will be excellent or good –

Ghanaians propensity to purchase has also seen a considerable decrease half think now is a good or excellent time to purchase what they want or need.

Only 46% of Ghanaians say they have spare cash and once they meet their essential living expenses, the highest number of consumers (68%) put their spare cash into savings. This is followed by 57%who say they invest in shares and mutual funds and 56% on home improvements

Curtailed spending

When asked whether they had changed their spending to save on household expenses compared to this time last year, 73% of Ghanaians said yes. To reduce expenses, the highest number (49%) said delaying the replacement of major household items followed by 48% spending less on new clothes and 47% less on out of home entertainment.

When looking at the real-life factors that are affecting their outlook, the top consumer concern over the next twelve months is work/life balance (12%), followed by increasing food prices, job security and tolerance towards other religions – all at 11%.

Looking at the future outlook for Ghana, Nooy comments;

“Ghana is likely to outperform the regional economic growth average in 2021 which bodes well for increased domestic demand and consumption levels. To benefit from these improved circumstances retailers will need to meet radically altered consumer, demands, needs and behaviours that will impact where they shop, what they buy, why they buy and how much they are willing to spend.”

Ogun State partners with Fan Milk to establish Odeda Farm Institute

Esan Bolaji
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Ogun State partners with Fan Milk to establish Odeda Farm Institute

Fan Milk Plc, a Danone Company, signed a partnership agreement with the Ogun State Government to establish its flagship dairy farm at the Odeda Farm Institute, in the Odeda Local Government Area.

The partnership, an alliance with the state, is to introduce global standards in dairy farming, empower local communities and reduce unemployment rates. It signifies Fan Milk’s commitment to enhance the impact of the Central Bank of Nigeria’s backward integration programme and reinforce the Federal Government’s initiative to achieve food self-sufficiency in the country.

Ogun State partners with Fan Milk to establish Odeda Farm Institute Brandspurng
L-R: H.E. Prince Dr. Dapo Abiodun, Ogun State Governor, (centre); Mr. Olayinka Akinkugbe, Chairman, Fan Milk Plc (centre right); Mr. Tokunbo Talabi, Secretary to the Secretary to the State Government (next right); H.E. Mr Jerome Pasquier, French Ambassador to Nigeria (centre left); Mr Ferdinand Mouko, Managing Director, Fan Milk Plc (next left); and representatives from the Ogun State government, French Embassy and Fan Milk Plc, at the signing of the partnership agreement between Fan Milk, a Danone Company and Ogun State to establish the flagship Fan Milk-Danone dairy farm at Odeda Farm Institute | www.brandspurng.com

In addition to boosting local content within the sector, the project will serve as a model, best-in-class dairy farm operated by local dairy experts to support local suppliers, housing a milk collection centre, purchasing feed locally and collecting milk from other farmers.

The Ogun State Governor, His Excellency, Prince Dapo Abiodun MFR, expressing his satisfaction with the partnership, said,

“We welcome such future-forward partnerships which align with our vision to create an enabling environment for Public-Private Partnerships. As Nigeria’s Gateway State, Fan Milk’s partnership gives us the opportunity to contribute quickly and easily to job creation at scale.  

It is another symbol of our plans for 2021 and signifies our strong commitment to fostering relationships that grow the state’s revenue. The government and people of Ogun State look forward to the advancements collaboration like this will bring to local farmers and communities.”

Ogun State And Fan Milk Plc Seal Partnership Deal On Dairy Value Chain Opportunities Brandspurng9

The farm, which includes a Fan Milk Danone Dairy Training Institute, is being established to upskill existing and new local dairy farmers in the adoption of farming best practices.

The Chairman of Fan Milk, MrOlayinkaAkinkugbe, in his statement said,

“For us, this partnership is bigger than the CBN backward integration program. It is about the 2,000 people or more who would be impacted through this initiative and the change we seek to bring to Nigeria’s food architecture. We are investing in the value chain and ensuring the support of the long-term ambitions of the state.

His Excellency, Mr. JérômePasquier, the French Ambassador to Nigeria, commended the initiative as a strong representation of bilateral relations between the Nigerian and French governments and expressed a desire for an increase in such partnerships that contribute to achieving the United Nations Sustainable Development Goals.

Ogun State And Fan Milk Plc Seal Partnership Deal On Dairy Value Chain Opportunities Brandspurng9 Ogun State And Fan Milk Plc Seal Partnership Deal On Dairy Value Chain Opportunities Brandspurng9

Reiterating the company’s commitment to expanding local contribution to dairy, Managing Director of Fan Milk, MrFerdinardMuoko, stated, “Fan Milk Plc remains committed to protecting dairy’s important role in every Nigerian’s diet.

That is why we have resolved to invest through the delivery of a series of coordinated education programmes and tools to support regenerative agriculture, the Danone Dairy Training Institute should reach over 500 farmers and dairy workers over a five year period.”

The dairy product manufacturer will receive technical support from its parent company, Danone, which, as part of its 2030 goals and in line with key priorities of the UN Sustainable Development Goals, is keen to impact local health and foster inclusive growth.

Working to develop and promote regenerative models of agriculture that protect soils, empower farmers and promote animal welfare, this investment will be a continuation of Danone’s efforts to boost local milk production across its host communities in Africa, as is ongoing in Algeria, Morocco and Egypt and North-East Africa.

Danone partners with farmers globally and is committed to working with stakeholders across the value chain to address the challenges associated with food security.

Nigeria Slips To 110th Position in EIU’s Democracy Index 2020

Esan Bolaji
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Nigeria Slips To 110th Position in EIU’s Democracy Index 2020

Nigeria slipped to 110th position out of 165 independent states and two territories in the latest Economist Intelligence Unit’s (EIU) Global Democracy Index 2020 report titled “Democracy Index 2020: In sickness and in health?” due to coronavirus-related lockdowns, which had a negative bearing on the civil liberties category.

Nigeria ranked 110 with a score of 4.10 out of 10, Nigeria was categorized as a hybrid regime. While Nigeria was ranked 20 in Sub-Saharan Africa, Mauritius, Cape Verde, Botswana and South Africa occupies, 1st, 2nd, 3rd and 4th positions respectively.

The decline in Africa’s low overall democracy score in 2020 was also driven by coronavirus-related lockdowns, which had a negative bearing on the civil liberties category (the region’s score dropped from 4.46 in 2019 to 4.23 in 2020).

Typically, the strategy in Africa was to make lockdowns as short as possible, which meant that they were enforced ruthlessly by the police. During the early weeks of a local lockdown, more Nigerians died at the hands of police than from coronavirus.

Nigeria Slips To 110th Position in EIU's Democracy Index Brandspurng

Heavy-handedness in several countries, such as Kenya and Senegal, is common but reached new highs in places where curfews were ordered. The measures stripped citizens of their freedom to assemble and travel, causing severe interruption to livelihoods.

The harshness of the restrictions led people to disregard them, and there were protests and riots in some countries, including in some with a history of only limited political participation, such as Uganda and Angola.

Nigeria Slips To 110th Position in EIU's Democracy Index
Photo by Namnso Ukpanah

Constraints placed on political activity—applied disproportionately for the opposition—ahead of January 2021 elections in Uganda illustrated how autocrats use the excuse of new threats such as coronavirus to crack down on the opposition and hold on to power during a time of crisis.

Even where restrictions were not especially strict, such as in Malawi, they were oppressive enough to prompt protests and force the government to abandon the policy of a lockdown altogether. In Angola, unrest was also connected to the postponement of local elections.

The Economist Intelligence Unit’s Democracy Index is based on five categories:

  1. Electoral process and pluralism;
  2. Civil liberties;
  3. The functioning of government;
  4. Political participation; and
  5. Political culture.

Based on their scores on 60 indicators within these categories, each country is then itself classified as one of four types of regime: full democracy; flawed democracy; hybrid regime; and authoritarian regime.

Sub-Saharan Africa: Elections good and bad, and ill-managed lockdowns

Many of the nations in Sub-Saharan Africa are concentrated at the bottom of the Democracy Index rankings. The continent has only one “full democracy”—Mauritius—and six “flawed democracies”.

The number of countries classed as “hybrid regimes”, at 13, is two less than in the 2019 index, as Burkina Faso and Mali slipped down the ranking to become “authoritarian regimes”, alongside 22 other African states.

The overall average regional score fell to 4.16 in 2020, down from 4.26 in 2019—by far the lowest score for the continent since the index began in 2006.

Regional deterioration was also a consequence of declining scores for many countries in the category of electoral process and pluralism, with the average regional category score falling to 3.87 in 2020 (down from 4.01 in 2019).

Disputed elections in Tanzania and Guinea led to both countries being marked down in the index for polling irregularities. However, there was a bright spot: Malawi’s constitutional court overturned a presidential election held in 2019 that was widely decried as being unfair.

A rerun was held in June 2020 and an opposition candidate won, marking a major step forward in the electoral process that pushed Malawi five places upwards in the global ranking.

Norway topped The Economist Intelligence Unit’s latest Democracy Index report titled “Democracy in sickness and in health?”, with Iceland, Sweden, New Zealand and Canada making up the top five.

Taiwan, Japan and South Korea took the top three spots in Asia, moving from the “flawed democracy” category to be classified as “full democracies.”

Out of 167 countries, the Democracy Index classifies 23 countries as full democracies, 52 as flawed democracies, 35 as hybrid regimes and 57 as authoritarian regimes. India has been classified as a ‘flawed democracy’ along with countries such as the US, France, Belgium and Brazil.

Investing in UK iGaming & Sports Bet Operators – $100 Billion Markets

Esan Bolaji
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Investing in UK iGaming & Sports Bet Operators – $100 Billion Markets

Over 2020 online brands floated as PLCs on the world’s numerous stock markets have seen their share prices skyrocket. With more people forced to stay at home, online entertainment brands are seeing marked increases in traffic, subscriptions, and ad clicks.

Netflix, AMD, Google, and Microsoft all reported rises in stock prices. However, investing in the obvious is not always the best way to make the best out of your portfolio.

Today, if you look around the stock markets, you will find numerous iGaming and sports betting platform providers floated on the London Stock Exchange, the NASDAQ, and other stock markets.

UK companies like Playtech PLC, Kindred PLC, and Entain PLC (formerly GVC Holdings) are providing betting and casino companies with the platforms they need to bring online sportsbooks and casinos online to players’ mobile and desktop devices. Every year more operators are coming online using these aggregator services while UK iGaming and sports betting PLCs are moving their platforms into new markets.

Top 5 Reasons for The Rise and Rise of Sports Betting in Nigeria
Photo by Thomas Serer

Sports Bet & iGaming Companies Floated on UK Stock Markets:

  • Kindred Group PLC (KIND-SDB)
  • Playtech PLC (PTEC)
  • Entain PLC (ENT)

Adding to this, these firms are now providing casino and sports bet software to operators with software to online casinos and sportsbooks that accept members from all over the globe. You will now see these 3 brands in Southern to North America, across Europe, over to Asia, down to Oceania and back across to Africa!

$100 Billion US Sports Betting & iGaming Market

The US market now has New Jersey, Pennsylvania, Delaware, Michigan, and West Virginia online for both sports betting and online casinos. On top of this, Colorado, Illinois, Indiana, Indiana, Iowa, Nevada, New Hampshire, Oregon, Rhode Island, Tennessee, and Washington D.C all have regulated mobile and online sports books.

Kindred and Entain are already providing software solutions in many of these states offering their platform, while Playtech is also offering its virtual casinos games to the casino operating in states where online casino licenses are also issued.

The same bonus systems are available for sport betting in the USA as those offered by the big brands like freebets.co.uk list. Free bonus bets for signing up or bonus bets that double and even triple player’s sportsbook cash balance. Players simply sign up, deposit with a bonus code and then follow the min odds guidelines to place their free bet!

Entering the World’s Super Emerging Economies

This is where the new rise in stock prices is happening right now! Why? Because BRICS economies such as Brazil, India, and South Africa are coming online, and with it an army of people that want to play casino games such as slots, blackjack, and roulette.

This is not to mention live table games like Andar Bahar and Teen Patti which are immensely popular not only in India but in countries like South Africa where there are over 1.3 million Indians! Then there is sports betting in these countries too. You can see that Africa is the next big emerging economy with countries like Nigeria seeing a rise in sports betting.

Some of the largest iGaming companies to provide the casino platforms that residents of India, South Africa, and Brazil and other emerging economies play at are running casino and sports betting aggregator platforms provided by UK PLCs!

Diversify your Portfolio into iGaming Stocks!

Stocks more likely to increase and even double over the next 10 years are those with market trends that are rising. Right now, that is the iGaming and sports betting industries!

Now, take a step back and think about iGaming and sport betting. It may not be rising as quickly as it was in the UK and across Europe, but it is still rising. In the UK, some of the most successful sports, casino, and lotto providers are Playtech, Entain (GVC Holdings), and Kindred.

These casinos and sports betting platforms and websites are breaking records every year within fully regulated markets, while the casinos using their platforms are reaching out into unregulated markets where there is no official casino regulator to manage online casinos, and the casinos can do this via an MGA license or Curacao Antillephone N.V.

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