Airtel TV – Everything You Need to Know About ‘Amaka Must Go’

Brand Spur
-
1
Airtel TV – Everything You Need to Know About ‘Amaka Must Go’

Since the release of its trailer in April, Airtel TV’s ‘Amaka Must Go’ has been a hot topic online among movie buffs and people looking to find something exciting to watch amid the COVID-19 lockdown.

The 2 minute-trailer has managed to garner close to 2 million views on YouTube alone and snippets on social media have spurred interest from thousands of users on platforms like Twitter, where the question “what really is Amaka Must Go about?” appears to be atop the conversation.

The build-up to the release of the trailer can also largely be attributed to the enormous attention the upcoming series has since attracted as lead actors, Abdulateef Adedimeji and Benita Essien managed to stir up a heated conversation on social media with their staged “beef”, which turned out to be quite a clever marketing ploy.

While no release date has been scheduled or announced by Airtel yet owing to the COVID-19 pandemic, the anticipation for ‘Amaka Must Go’ remains considerably high and speculations have risen on what to expect as well as what the movie will entail. Here is everything you need to know about the highly anticipated TV series thus far.

The Production

The upcoming TV series is an original production from Nigeria’s leading telecommunications services provider, Airtel. It will be the first original TV series by the telco, which will be available on its Video on Demand and live TV streaming platform, Airtel TV.

It’s a Spin-Off 

For fans of Airtel’s critically acclaimed web series ‘The In-laws’, many faces in the trailer are instantly recognizable, with notable characters appearing in numerous scenes. ‘Amaka Must Go’ is actually a spin-off of the web series and will follow the main and recurring characters. For those who are already fans of the web series, this will be an opportunity to see their favourite characters with more fleshed-out backstories.

The Excellent Cast

It boasts an ensemble cast, most of who are returning from the web series ‘The In-Laws’, including Abdulateef Adedimeji, who plays Segun; veteran Nollywood actress, Idowu Phillips a.k.a Iya Rainbow, who plays his mother; Ngozi Nwosu a.k.a Mummy Peace, Segun’s mother-in-law; Dele Odule, his father-in-law, and the titular character and Segun’s wife, Amaka, played by Benita Essien.

The Build-Up

A few days to the release of the trailer, lead actors of the upcoming series, Benita Essien (Amaka) and Abdulateef Adedimeji (Segun) caused quite a stir on social media after both took to Instagram Live and had a heated argument. Unsuspecting followers and fans immediately took this as a real social media “beef” between two of Nollywood biggest co-stars in what turned out to be a laudable marketing ploy to bolster anticipation. They got us – so, nice one, Airtel!

The Synopsis

Following their story from the web series, ‘Amaka Must Go’ will show the journey of happily married couple, Amaka and Segun as they try to balance their married life amid the increasing tension from their in-laws. The light-hearted and humorous tension, which fans are familiar with in the web series appears to have taken a more dramatic turn as the tone showcased in the trailer appears to be more serious.

Movie Lovers Can Watch it for Free

Customers of Airtel have thousands of Nollywood and Hollywood blockbusters to choose from on the Airtel TV app at no subscription cost. Airtel TV is the most rewarding video platform in Nigeria as customers enjoy data-free access to movies on the app for the first 3 days after download. Customers also enjoy free data rewards daily for watching up to 1 hour each day.

Once a release date has been announced, fans can enjoy ‘Amaka Must Go’ for free!

To enjoy Airtel TV, customers can download the app on Google Play Store and Apple Store then launch and click “register”. Once registration is complete, customers can browse through the catalogue and stream any content or channel of choice.

Over 10,000 health workers in Africa infected with COVID-19, says WHO

Brand Spur
-
0
Over 10,000 health workers in Africa infected with COVID-19, says WHO

Inadequate access to personal protective equipment or weak infection prevention and control measures raise the risk of health worker infection

The World Health Organization (WHO) today warned of the threat posed by COVID-19 to health workers across Africa. More than 10 000 health workers in the 40 countries which have reported on such infections have been infected with COVID-19 so far, a sign of the challenges medical staff on the frontlines of the outbreak face.

WHO clinic staff training on IPC and case management + PPE

This comes as COVID-19 cases in Africa appear to be gathering pace. There are now more than 750 000 cases of COVID-19, with over 15 000 deaths. Some countries are approaching a critical number of infections that can place stress on health systems. South Africa is now among the worst-hit countries in the world.

COVID19 WHOAFRO IPC and case management training WHO-Marta Villa Monge

“The growth we are seeing in COVID-19 cases in Africa is placing an ever-greater strain on health services across the continent,” said Dr Matshidiso Moeti, WHO Regional Director for Africa. “This has very real consequences for the individuals who work in them, and there is no more sobering example of this than the rising number of health worker infections.”

COVID19 WHOAFRO IPC and case management training WHO-Marta Villa Monge

So far, about 10% of all cases globally are among health workers, though there is a wide range between individual countries. In Africa, information on health worker infections is still limited, but preliminary data finds that they make up more than 5% of cases in 14 countries in sub-Saharan Africa alone, and in four of these, health workers make up more than 10% of all infections.

COVID19 WHOAFRO IPC and case management training in Brazzaville. WHO-Marta Villa Monge

Inadequate access to personal protective equipment or weak infection prevention and control measures raise the risk of health worker infection.

Surging global demand for protective equipment as well as global restrictions on travel has triggered supply shortages. Health workers can also be exposed to patients who do not show signs of the disease and are in the health facilities for a range of other services.

COVID19 Ethiopia – Personal protective equipment WHO-Otto Bakano

Risks may also arise when health personnel are repurposed for COVID-19 response without adequate briefing, or because of heavy workloads which result in fatigue, burnout and possibly not fully applying the standard operating procedures.

COVID19 Ethiopia – Personal protective equipment WHO-Otto Bakano

In many African countries, infection prevention and control measures aimed at preventing infections in health facilities are still not fully implemented. When WHO assessed clinics and hospitals across the continent for these measures, only 16% of the nearly 30 000 facilities surveyed had assessment scores above 75%. Many health centres were found to lack the infrastructure necessary to implement key infection prevention measures or to prevent overcrowding. Only 7.8% (2213) had isolation capacities and just a third had the capacity to triage patients.

“One infection among health workers is one too many,” said Dr Moeti. “Doctors, nurses and other health professionals are our mothers, brothers and sisters. They are helping to save lives endangered by COVID-19. We must make sure that they have the equipment, skills and information they need to keep themselves, their patients and colleagues safe.”

WHO has been working closely with health ministries to reduce health worker infections since the outbreak began. The organization has trained more than 50 000 health workers in Africa in infection prevention and control, with plans to train over 200 000 more, as well as providing guidance documents and guidelines on best care practices and the most up-to-date treatment regimes.

WHO is also helping to fill gaps in the supply of personal protective equipment. Currently, 41 million items of personal protective equipment are ready to ship from China to cover the needs of 47 African countries. Shipments for an initial set of 23 African countries are planned to start during this weekend.

As a result of concerted efforts by WHO and partners some African countries have managed to reduce health worker infections considerably. For example, two months ago over 16% of COVID-19 infections in Sierra Leone were among health workers. The figure has now dropped to 9%. Cote d’Ivoire has reduced the proportion of infections among health workers from 6.1% to 1.4%. Scaling up infection prevention and control measures can further reduce infections among health workers.

Dr Moeti spoke about health worker infections in Africa during a virtual press conference today organized by APO Group. She was joined by Hon Dr Léonie Claudine Lougue, Minister of Health of Burkina Faso; Hon Dr Alpha T. Wurie, Minister of Health and Population of Sierra Leone; and Dr Jemima A. Dennis-Antwi, International Maternal Health & Midwifery Specialist.

Glo, 9Mobile and 4 Other Telcos to Now Submit Yearly Financial Statements to NCC

Brand Spur
-
0
Glo, 9Mobile and 4 Other Telcos to Now Submit Yearly Financial Statements to NCC

The Nigerian Communications Commissions (NCC) is committed to the creation of an enabling environment for competition among operators in the industry to ensure the provision of qualitative and efficient telecoms services as stipulated in Nigerian Communications Act (NCA), 2003.

In order to further ensure transparency and accountability in regard to effective regulation and prevention of anti-competitive behaviour, the NCC has commenced the implementation of the Accounting Separation Framework (ASF) in the Nigerian telecoms industry effective from July 15, 2020.

The policy document, “Determination on the Implementation of an Accounting Separation Framework for the Nigerian Telecoms Industry”, which was developed via a consultative process in 2015, has undergone a comprehensive review by the regulator in collaboration with telecoms licensees and other critical industry stakeholders.

With the commencement of the implementation of the framework, telecoms licensees are, henceforth, obligated to submit their Regulatory Financial Statement (RFS) to the Commission in line with the new ASF, within seven months after the end of the licensees’ financial year.

The Commission, however, stated that submission of RFS in line with the new framework is currently limited to and mandatory for only six telecom licensees, adding that this will subsist for an initial period of two years after which the regulator may review the list to include other operators.

The affected firms are MTN, Airtel, 9Mobille, Globacom, IHS Nigeria and MainOne. As publicly listed companies, MTN and Airtel already submit their financial statements to the Nigerian Stock Exchange (NSE). After two years, NCC will consider mandating more companies to submit their financial statements.

Prof. Umar Danbatta, the Executive Vice Chairman of the NCC expressed optimism about the framework noting that “the new ASF will promote an industry environment that fosters open and transparent financial reporting while ensuring that charges for telecom services are cost-based and non-discriminatory.”

Adducing reasons for limiting compliance to six operators, for now, the Executive Vice Chairman (EVC) of NCC, Prof. Umar Garba Danbatta, said the decision was taken to ensure the necessary structure is in place for reviewing and analysing the accounts before applying the new framework to all licensees in the industry.

Danbatta, however, stated that any other licensee willing to prepare its financial statements in line with the new framework is allowed to voluntarily do so, just as he said the Commission may exercise its discretion to demand that a licensee prepare and submit separated account where it is determined that the activities of such a service provider are deemed critical to the overall well-being of the Nigerian telecoms industry.

Therefore, for full and effective implementation of the Framework, every operator under the ambit of accounting separation is required to prepare an Operator-specific Accounting Separation Manual (OASM) containing policies, principles, methodologies and procedures for accounting and cost allocation, which must be submitted to the Commission on or before October 30, 2020, for regulatory approval.

Licensees shall also be required to prepare their financial and non-financial reports in line with the Guidelines for the ASF while reports shall be furnished by the licensees for every accounting year beginning from the 2020 financial year-end.

Also, as part of operators’ licensing conditions, the Commission requires licensees to prepare, in respect of each complete financial year or of such lesser periods as may be specified, separated accounting statements for all their activities.

According to Danbatta, the Commission considers the Accounting Separation Framework “as an effective, least evasive and less costly solution to implement to meet its regulatory objectives”, adding that the implementation of the Framework is also a key deliverable for the Commission in the new National Broadband Plan (NBP), 2020-2025.”

The EVC added that the Commission took into consideration the inputs from industry stakeholders and has provided capacity-building for operators and for the relevant staff of the Commission to ensure seamless implementation of the Framework.

Danbatta further reiterated the commitment of the Commission towards continually developing policies, initiatives and programmes aimed at boosting healthy competition among telecoms operators in the country to ensure that consumers continue to enjoy efficient and affordable telecom services.

Medview Airline calls an emergency meeting regarding its financial status

Brand Spur
-
0
Medview Airline calls an emergency meeting regarding its financial status

Medview Airline Plc has called an emergency meeting to discuss its financial status. to be held visually by zoom on Thursday, 23 July 2020 at 12:00 noon to deliberate on:

  1. The effect of the COVID-19 pandemic on the operations of airlines in the aviation sector.
  2. The financial status of the Company and amongst other matters.

The company released an unaudited 2019 financial statement in January but failed to submit an audited report to the Nigerian Stock Exchange by the March deadline.

Consequently, in view of the above, the closed period for trading in the shares of the Company commences today, 21st July 2020 until 24 hours after the decision reached the meeting is released to the public.

Last year’s published results showed that the company is struggling — revenue dropped to ₦3 billion from ₦10 billion in 2018 and ₦37 billion in 2017. The NSE cautioned investors against trading in Medview’s shares two weeks ago.

Unilever’s Half-year results: performance reflects agility and resilience of the business

Brand Spur
-
0
Unilever’s Half-year results: performance reflects agility and resilience of the business

Today, Unilever announced its results for the first half of 2020, which show that overall underlying sales declined 0.1%, with developed markets up 2.4% and emerging markets down 1.9%.

  • Underlying sales declined 0.1% with volume declining 0.3% and price growth of 0.2%
  • Turnover decreased 1.6% including a positive impact of 1.1% from acquisitions net of disposals and negative impact of 2.5% from currency
  • Underlying operating profit excluding currency increased by 3.8%, before a negative impact of 3.2% from currency
  • Underlying earnings per share up 6.4%, including a negative impact of 3.7% from currency
  • Free cash flow up €1.3 billion to €2.9 billion, reflecting our objective to protect cash during the crisis
  • Quarterly shareholder dividend maintained at €0.4104 per share
  • Completed acquisitions of Horlicks brand from GSK, enhancing presence in healthy nutrition
  • Announced plans to unify the Group legal structure under a single parent company

A statement from CEO Alan Jope

“Performance during the first half has shown the true strength of Unilever. We have demonstrated the resilience of the business – in our portfolio, in a continued step-up in operational excellence, and in our financial position – and we have unlocked new levels of agility in responding to unprecedented fluctuations in demand.

We have also taken action to strengthen the strategic future of the company by announcing proposals to unify our dual-headed legal structure, progressing the strategic review of our global tea business and making new commitments to help protect the climate and regenerate nature.

From the start of the Covid-19 crisis, we have been guided by clear priorities in line with our multi-stakeholder business model to protect our people, safeguard supply, respond to new patterns of consumer demand, preserve cash and support our communities.

Our focus for the rest of 2020 will continue to be volume led to competitive growth, absolute profit and cash delivery, as this is the best way to maximise shareholder value.

I would like to thank every member of the Unilever team for the outstanding commitment they have shown in the most difficult of circumstances.”

Our markets

The spread of Covid-19, combined with the lockdowns and restrictions that have been implemented in many countries, has led to significant changes in the operating environment in our markets. Consumer demand patterns have been impacted by channel closures, more time spent in the home and the critical importance of hygiene.

China was the first of our markets to be impacted by Covid-19, entering lockdown in January. China slowed significantly during the lockdown period, with some recovery after April as the economy opened back up.

In most other major markets, sales patterns in January and February were normal and Covid-19 impacted from March onwards. In North America and parts of Europe, there was a positive impact from household stocking in March. Consumption patterns then normalised in the second quarter with heightened levels of demand for hygiene and in-home food products.

Market growth in India had already been slowing prior to the spread of Covid-19 and the market was further impacted by the introduction of the strict national lockdown at the end of March.

This national lockdown continued until early June when it was followed by further regional lockdowns. Latin America was impacted by Covid-19 later than other major markets, with the effects primarily in the second quarter, exacerbating already challenging conditions in the region.

Overall performance

Underlying sales declined 0.1% with volumes declining 0.3% and price growth of 0.2%. Developed markets grew by 2.4% whilst emerging markets declined by 1.9%.

The impact of Covid-19 on our business in the first half varied widely across our channels and categories. Channel closures as a result of lockdowns in our markets negatively impacted our food service, out-of-home ice cream and Prestige businesses.

Foodservice declined by nearly 40% and out-of-home ice cream declined by nearly 30%. Shoppers moved from offline to online channels, driving eCommerce growth of 49%.

As people spent more time in their homes, we saw growth in-home consumption of foods, ice cream and tea. It also meant that consumers had fewer personal care occasions from going to work or socialising, and we saw a decline in our personal care business, except for hygiene products.

The effectiveness of good hygiene practices against the spread of Covid-19 increased demand for our hand and home hygiene products, which each grew double digits.

Consumers eating and cleaning more at home, and focusing more on hand hygiene, led to underlying sales growth in North America of 9.5% in the second quarter, despite a negative impact of 3.7% from food solutions and Prestige channel closures.

The lockdowns introduced in our markets during the first half varied in severity, with some having a more significant impact on the supply and availability of goods, particularly those in India and China.

China entered lockdown in January and declined mid-teens during the first quarter. The market reopened from April, and China returned to mid-single-digit growth in the second quarter. Growth in India was impacted by the lockdown implemented from March.

Turnover decreased by 1.6%. There was a positive impact of 1.1% from acquisitions net of disposals and a negative impact of 2.5% from currency.

Underlying operating profit was €5.1 billion, an increase of 3.8% excluding a negative impact from currency of 3.2%. Underlying operating margin improved by 50bps.

As consumer habits and the status of lockdowns have been changing during this period, we have been quick to adapt and reallocate our brand and marketing investment week-by-week.

In response to lockdowns in our markets, we reduced spend in some channels and geographies while maintaining investment in growth opportunities. This, combined with a deflationary environment in media rates, led to a reduction in brand and marketing investment by 100bps during the period.

In the second half of the year, we expect to see higher brand and marketing investment, as lockdowns ease and we support brand campaigns and product innovations tailored to the new environment.

Gross margin reduced by 30bps driven by costs to adapt and run our supply chain in response to Covid-19, ensuring the safety and continuity of our operations, as well as an adverse mix effect. Overheads increased by 20bps, including an adverse currency mix.

We delivered free cash flow of €2.9 billion, an increase of €1.3 billion. The increase was driven by favourable working capital movements, reduced capital expenditure and lower cash tax paid, primarily a result of a higher tax on disposals in the prior year relating to the disposal of the spreads business.

Covid-19 response and support measures

We have put in place a wide-ranging set of measures to support global and national efforts to tackle the Covid-19 pandemic.

In our own operations, strict protocols for hygiene and physical distancing are in place for our sourcing units and distribution centres. Our office-based employees have been working from home since March, with some limited reopening of office workplaces in selected countries, where stringent requirements have been met.

We are supporting global efforts to tackle Covid-19, contributing €100 million through donations of soap, sanitiser, bleach and food. We are also working in partnership with others, including a programme to reach up to a billion people globally with the UK Department for International Development to urgently tackle the spread of the disease through raising hygiene awareness and changing behaviour.

We have also made available up to €500 million of cash flow relief for our most vulnerable small and medium-sized suppliers, though so far the levels of uptake have been low.

Our financial strength remains robust and we have not sought Covid-19 related financial support from any governments.

Strategic review of tea

In January, we announced a strategic review of the global tea business, which includes leading brands such as Lipton, Brooke Bond and PG Tips.

This review has assessed a full range of options. We will retain the tea businesses in India and Indonesia, and the partnership interests in the ready-to-drink tea joint ventures.

The balance of Unilever’s tea brands and geographies and all tea estates have an exciting future, and this potential can best be achieved as a separate entity. A process will now begin to implement the separation, which is expected to conclude by the end of 2021.

The tea business that will be separated generated revenues of €2 billion in 2019.

Recent acquisitions

During the second quarter, we completed the acquisitions of the health food drinks portfolio of GlaxoSmithKline in India, Bangladesh and 20 other predominantly Asian markets. Acquiring the iconic brands Horlicks and Boost are in line with Unilever’s strategy to enhance its presence in healthy nutrition.

Beauty & Personal Care

Beauty & Personal Care underlying sales declined by 0.3%, with volume growth of 0.1% and negative pricing of 0.4%.

Skin cleansing saw mid-teens volume-led growth, as we quickly responded to the critical need for hand hygiene to prevent the spread of Covid-19. We rolled out our Lifebuoy hygiene brand to over 50 markets and increased our hand sanitiser capacity by around 600 times across several brands. This helped contribute to double-digit growth for Suave.

Lockdowns in our markets and reduced personal care occasions amidst restricted living led to lower demand for skin care, deodorants and hair care, which each saw volume and price decline. The division’s largest brand Dove remained resilient, with mid-single-digit growth.

Our Prestige portfolio was impacted by health and beauty channel closures in many markets. Consumer oral care demand remained robust. However, the category saw negative volumes related to the disruption caused by lockdowns in key markets.

Home Care

Home Care underlying sales grew 3.2%, with 2.9% from volume and positive pricing of 0.3%.

We saw increased consumer demand for household cleaning products, such as Cif surface cleaners, and our home and hygiene brands delivered high-teens underlying sales growth. Working with environmental health experts, Domestos educated consumers about targeted cleaning of high-touch surfaces in the home to help prevent the spread of Covid-19 and saw strong double-digit growth.

Strict lockdowns in Asia impacted fabric solutions, which declined overall. However future formats such as capsules and liquids continued to grow. Clean and green brand Seventh Generation saw strong double-digit, volume-led growth. Fabric sensations declined low-single digit, driven by Brazil and China.

Foods & Refreshment

Foods & Refreshment underlying sales declined 1.7%, with volumes down 2.5% and positive pricing of 0.8%.

Lockdowns in most markets led to the closure of out-of-home channels. This, together with reduced tourism, led to a reduction in out-of-home ice cream sales of nearly 30%. Similarly, foodservice sales were down around 40% as hotels, restaurants, cafes and bars closed.

At the same time, we saw double-digit growth in our retail foods business with Knorr and Hellmann’s performing strongly.

Sales of ice cream for consumption in-home increased by 15% in the first half and by 26% in the second quarter, significantly offsetting the declines in out-of-home channels. Magnum and Ben and Jerry’s continued to grow strongly.

Nigeria’s VFD Targets 2022 Financial Services IPO, Says CEO

Brand Spur
-
0
Nigeria’s VFD Targets 2022 Financial Services IPO, Says CEO

VFD Group Plc, a proprietary investor in financial services companies, is targeting a 2022 initial public offering on the Nigerian stock exchange, CEO Nonso Okpala tells The Africa Report.

The Lagos-based company has appointed Kairos Capital to help it seek Nigerian and international investors, says Okpala, who holds about 24% of the company. He plans to keep his stake after the IPO.

VFD, which started operating in 2011, currently trades on the NASD over-the-counter (OTC) exchange, an alternative market for west African securities. It became a public company in January 2019 and pays regular dividends to its shareholder base of more than 60,000. Its investments include a stake of 35% in Abbey Mortgage Bank, a majority stake in Anchoria Asset Management, and a wholly-owned microfinance unit.

The company, which more than doubled its full-year profit in 2019, also owns Everdon Bureau de Change, Dynasty Real Estate and the Transfercorp remittances service. Receipts from the main list IPO, says Okpala, would be used to build the VFD “ecosystem” which aims to provide a full range of financial services for families and businesses.

Mortgages are a key part of the strategy. According to the Centre for Affordable Housing Finance in Africa (CAHF), the number of outstanding mortgages in Nigeria in 2019 was just 113,000.

The ratio of mortgages to GDP at 0.3% was one of the lowest in the world, held back by high-interest rates and equity requirements of 20% for mortgage loans. CAHF says that progressive use of credit bureaux by lenders is improving risk management.

Nigeria’s mortgage market remains “very untapped, with huge potential,” notes Okpala. The company’s virtual banking platform is the “key to the whole ecosphere,” he adds. VFD has no exit strategy for its investments. “We don’t buy to sell. We buy to keep the company and integrate it into our platform.” COVID-19 impact

The COVID-19 pandemic has had no impact on the company’s operating strategy or its IPO plans, Okpala says. VFD’s first-quarter profit declined by 75%. The microfinance business was negatively affected by lockdown, with some clients unable to repay their loans.

Depending on the customer’s business, VFD was able to help with logistical advice and equipment purchase, Okpala says. For businesses that weren’t able to adapt, loans were suspended and rescheduled, with moratoriums being granted for the duration of lockdown. When a company can’t pay, “it’s best to structure the business so that it continues to exist.”

The company’s V digital banking application launched at the start of March drew more users as people needed to find a way to carry out virtual banking during the lockdown, he says. VFD itself was able to save on a planned office expansion which it realised was no longer necessary. It now gives employees the option to work remotely.

“Productivity has increased” as a result meaning “a double advantage,” adds Okpala. The pandemic “has taught us a lot about the running of the company in a cost-effective manner.” The company, which has a stake in the Atiat vehicle and equipment leasing business, is considering branching out into non-core financial services businesses such as an auto purchase. It is also studying expansion into foreign markets such as Ghana.

In the process, Okpala hopes that VFD will break with what he calls Nigeria’s tradition of “one-man businesses. We want an institutional strategy. Patient capital needs an institutional process.”

Bottom Line

Homegrown companies like VFD may be better placed than foreign multinationals to tackle Nigeria’s financial services deficit.

Her Excellency Ellen Johnson Sirleaf makes impassioned speech at Hogan Lovells seventh Africa Forum

Brand Spur
-
0
Her Excellency Ellen Johnson Sirleaf makes impassioned speech at Hogan Lovells seventh Africa Forum

International law firm Hogan Lovells hosted its seventh annual Africa Forum recently, with Her Excellency Ellen Johnson Sirleaf, First Female President of Liberia and Nobel Peace Laureate, featuring as a keynote speaker to an online audience of business leaders.

Themed “Growth and Sustainability”, this year’s forum assembled panellists to discuss Africa’s business-critical challenges emerging from the global pandemic of COVID-19, as well as the effects of climate change, and the importance of leaders who are championing the continent towards sustainable future growth.

With over 400 online attendees, sessions covered impact financing, risk management, the role of government and public sector in delivering a positive and sustainable narrative for Africa, the continent’s energy landscape, and how to become a trailblazer as an African woman.

Addressing the global pandemic, Her Excellency comments, “The prevailing wisdom in our continent will survive this pandemic but the effects it will leave are enormous. For Africa … mitigating interventions include increasing resources from multilateral lending agencies, direct support to keep households afloat and businesses solvent, and scaling up support to the informal sector, which predominantly employs women.”

“The truth is that unless we address the issues of the pandemic and its presenting challenges … not only are we all ultimately susceptible to poor health but also we risk all other aspects of our collective existence and enduring partnerships.”

On climate change, Her Excellency adds, “It has been said climate change poses a relationship between energy and development. It has redefined the relationships and expectations between business, governments and people.

It is a fact that Africa, unlike other regions of the world, has contributed less to the climate crisis we now face. However, such is the interconnectedness of our world that despite this and the fact that many on the continent are without electricity, Africa faces a higher burden than most on changes for the climate.

Is Africa ready for sustainable values? Is Africa ready to resume full responsibility for its development? Yes. Africa is ready.”

Head of Hogan Lovells Africa Practice, Andrew Skipper, says, “I was delighted to host our seventh Africa Forum virtually and with such an exceptional array of speakers. We at Hogan Lovells were determined to remain present in Africa despite being in the midst of the global pandemic, and we did so.

To say COVID-19 has changed the world is an understatement and featured as a backdrop to our discussions. The immediate and lasting effect of the virus is still reverberating, and while it will undoubtedly have a fundamental impact on the way we do business in Africa, from Africa and across Africa, the positive and robust discussions showed a way forward brimming with hope.”

“Looking back to 2019, the adverse impact of climate change around the world had even the most hardened sceptics paying attention. The continent of Africa is one of the most vulnerable to the forces of climate change, although it contributes the least to global warming.

Nevertheless, the forum showed there is much optimism for championing Africa as a leader in sustainable future growth and hope for future generations,” concludes Skipper.

Buhari most followed Sub-Saharan African leader on Twitter – BCW study reveals

Brand Spur
-
0
Buhari most followed Sub-Saharan African leader on Twitter – BCW study reveals

President Muhammadu Buhari has emerged the most followed Sub-Saharan African leader on Twitter during the Covid-19 pandemic, reveals leading global communications agency Burson Cohn & Wolfe (BCW) on Tuesday, July 21.

The newly released BCW Twiplomacy study 2020, which focuses on how world leaders have tweeted during the coronavirus pandemic and how Twitter has tried to keep the chatter clean from disinformation reveals that President Buhari recorded 3.1 million followers ahead of President Paul Kagame of Rwanda’s 1.9 million followers.

PMB’s Twitter follower growth within the period when Coronavirus emerged in Mid-March until June was 51 per cent.

Commenting on the outcome of the research, Chief Innovation Officer, BCW (Burson Cohn & Wolfe), Chad Latz said “It is therefore vital for world leaders to use channels like Twitter to reach out to their followers to spread critical health warnings and keep their followers abreast of the latest COVID-19-related information.

As the pandemic abates in some countries, world leaders will find themselves with an expanded audience for future engagement.”

Group Managing Director CMC Connect BCW (the affiliate company of BCW in Nigeria); Yomi Badejo-Okusanya commended the BCW global network for the professionalism that culminated in the timely release of the study.

“This report will encourage leaders who have been lagging behind to tap into opportunities provided by social media to communicate rightly by increasing their activities on the platforms to educate and inform their people.

COVID 19 has changed many around the globe, and in Africa the need to communicate what the government is doing and saying shows some level of transparency”, he added.

The 2020 Twiplomacy edition reveals that governments and leaders of 189 countries had an official presence on the social network, representing 98 percent of the 193 UN member states. The leaders use Twitter to share critical coronavirus information and encourage their citizens to “stay home” and “stay safe.”

Many leaders have been leading by example and updating their Twitter profiles, wearing a face mask and participating in the #SafeHands challenge. World leaders and diplomats also had to adapt to working from home and have been thrust into video conferences, making diplomacy truly digital.

Globally, US President Donald Trump is still the most followed world leader with more than 81 million followers and counting, while the governments of four countries namely Laos, North Korea, Sao Tome and Principe and Turkmenistan do not have a Twitter presence.

Meristem H2:2020 Outlook – Unmasking Value in a Scourge

Brand Spur
-
0
Meristem H2:2020 Outlook – Unmasking Value in a Scourge

It has been a testing first half of the year, as the turn of events has differed markedly from general expectations. The emergence of COVID-19 in China, and its swift spread across the world, has significantly changed the global landscape, and its effects are expected to be worse than the Great Financial Crisis.

Already, global growth projections for the year have been cut and, for the first time, all economic regions except China are expected to slump into a recession at the same time. While recovery is expected in 2021, the effects of the virus are expected to stay with us for longer.

The domestic economy has not been immune from the economic fallout caused by the virus. Even though economic output expanded in the first quarter, the outlook for the rest of the year is less benign as the virus is set to amplify existing growth impediments.

We witnessed multiple currency depreciation in the first half, as weakness in the current account balance along with foreign capital reversals tested the ability of the CBN defends the currency.

Events in the financial markets have also mirrored the current macroeconomic backdrop, as both the equities and fixed income markets have been unable to provide a positive real return to investors. However, even amidst the uncertainty, shrewd investors have been able to unearth value and reap inflation-beating portfolio returns.

In this report, we examine some of the key themes that are set to impact the economy and financial markets in the second half of the year and, as usual, we offer our guidance on how investors can unmask value amidst the scourge.

Click on the link below to access the full report:

Meristem H2_2020 Outlook- Unmasking Value in a Scourge

Nigerian Equity Market in H2-2020: On a slow path to total recovery?

Brand Spur
-
1
Nigerian Equity Market in H2-2020: On a slow path to total recovery?

The Nigerian equity market performance in H1-2020 was a tale of two quarters. Notably, the market tumbled by more than 20.0% in Q1-2020 as FPIs and local investors flew to safety amid the collapse in oil prices and currency adjustments.

However, the stock market recovered by more than half the initial downturn in Q2-2020, spurred by demand from local investors with excess liquidity and few high-yielding investment outlets.

Looking ahead, our overall outlook for equities is lukewarm in H2-2020, despite the expansionary monetary policy stance in the global space and the renewed domestic interests pushing stock prices towards pre-pandemic levels.

Although the argument for continued recovery is increasingly compelling from a technical standpoint, we note that weaker company fundamentals heightened by the COVID-19 pandemic, currency movement risks and capital control at the I &E window, are key downside risks that could curtail further recovery.

As a result, we expect the market to remain highly volatile for the rest of the year and ‘short-term gain’ driven. In all, we peg our base case scenario for the YTD performance of the NSE ASI in 2020 at -4.1%. However, we believe these times provide opportunities for long term investors, as stocks that have stood the test of time are still relatively cheap.

UNITED CAPITAL RESEARCH

1...3,8513,8523,853...5,503Page 3,852 of 5,503