Connect with us

Business

Huawei, Access Bank, PHN Stake N50m on Health Scheme

Published

on

Access bank
  • Huawei, Access Bank, PHN Stake N50m on Health Scheme

Huawei Technologies in collaboration with Access Bank Plc and Private Sector Health Alliance of Nigeria (PHN) has staked N50 million to support the drive for eradication of diseases in the country.

The move is part of efforts to complement Federal Government’s effort in achieving its malaria pre-elimination goals by 2020, tagged ‘Malaria-To-Zero’ initiative.

The donation, according to the company, is an innovative financing platform that seeks to galvanize private sector resources and capabilities for sustained support towards averting at least 1 million malaria cases and deaths in Nigeria.

The Managing Director and Chief Executive Officer, Access Bank Plc, Herbert Wigwe, said the platform would integrate existing and new initiatives on eradicating malaria, and thus build synergies that produce impact far greater than what could be attained with fragmented efforts.

“While understanding that malaria is a completely preventable and treatable life-threatening disease which is responsible for significant loss of lives, especially of women and children globally,” Wigwe noted.

He stressed: “Malaria claims more lives than HIV in Nigeria, not to talk of the impact in the entire workforce that we see on yearly basis. If we begin to quantify it, the entire private sector will appreciate the need for us to fight malaria to zero.”

Managing Director and Chief Executive Officer, Huawei Technologies, Frank Li, restated its commitment to promotion of health and education of new innovation.
Li, who spoke through the Head, Enterprise Sector, Ade Kehinde, expressed optimism on the ‘Malaria-To-Zero’ initiative, stating that its company would leverage on new technology to fight against malaria in the country.

Chief Executive Officer, PHN, Dr. Muntaqa Sadiq, noted that the initiative is significant to the theory of change, which targets the fundamental root cause of malaria disease.

“There are a number of areas that we have identified particularly around leveraging private sector capabilities to support the health system to avert malaria.

“What is different about the initiative is the fact that it would help to invest in facilitating manufacturing of insecticide treated nets, enhancing research and evidence base capacity, such that we have local capacity and local talents would solve our biggest healthcare challenges particularly around malaria”, he explained.

He added: “Also there are number of proven cost effective interventions that these resources can help to increase, which include indoor residual spraying, seasonal chemoprophylaxis and other proven interventions that we know will help to save lives.

Commissioner for Health, Lagos State, Dr. Jide Idris, commended the initiative, stating that the state government is willing to partner with private sector in achieving a malaria-free Lagos and consequently a malaria-free Nigeria.

Idris, who was represented by Director of Disease Control, Lagos Ministry of Health, Dr. Eniola Erinosho, said the state anticipates the assistance of private sector in driving social market and franchise to eliminate malaria.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Continue Reading
Comments

Company News

AB InBev Opens Applications For Beer Garage Africa Innovation Challenge

Published

on

AB-InBev-Beer-Garage-Budstart-2021-for-African-Entrepreneurs-Investors-King

The world’s largest beer company, AB InBev, has partnered with Hindsight Ventures to launch the Beer Garage Africa Innovation Challenge, which will offer startups access to venture development and grant funding.

AB InBev, which has over 500 brands and over six million B2B customers in over 100 countries, launched Beer Garage a few years ago with the objective of driving innovation by building a strong community of ecosystem stakeholders.

As part of this initiative, AB InBev is now launching the Beer Garage Africa Innovation Challenge, a pan-African challenge to identify hi-tech, high potential startups and founders building innovative solutions across Africa.

To do so, it has partnered with Startup Réseau, an India-headquartered global startup accelerator, which will operate the programme through its Africa-focused vertical Hindsight Ventures.

Ten startups will be selected to take part in a Global Venture Bootcamp, a three-week venture mentorship and leadership development programme that will be delivered by successful founders, industry leaders, domain experts and investors. The Beer Garage Africa Innovation Challenge will culminate with a demo day, which will be attended by AB InBev’s global leadership as well as Hindsight Ventures’ global investor pool. On the demo day, one African startup will stand to win US$5,000 in grant capital. All selected startups get access to US$150,000 in technology credits from partners.

“We are really excited by this partnership, which allows us to drive a pan-African program. With a billion people in the continent, over 300 million new internet users expected to come online over the next three years, a fast-growing mobile internet penetration – and now, with global venture capital money making its way to African entrepreneurs, this is a great opportunity for startups to engage with AB InBev as a partner of choice,” said Ajay Ramasubramaniam, founder and chief executive officer (CEO) of Startup Réseau.

Pritam Dutta, global director for fintech ventures and innovation at AB InBev, said the Beer Garage Africa Challenge was an opportunity to leverage the emerging tech startup ecosystem and funnel novel ideas into AB InBev.

“We set out to build out a stronger connect into the Africa ecosystem, find disruptive startups which could be a great pipeline for our future disruptive innovations and further accelerate our innovation agenda, delivering strong business impact,” he said.

Applications for the challenge are now open here.

Beer Garage is one of the global innovation hubs at AB InBev with the objective of driving innovation by building a strong community of ecosystem stakeholders.

Continue Reading

Merger and Acquisition

Sub Saharan Africa Mergers and Acquisition Transactions Totalled US$ 78.3 Billion During First Nine Months of 2021

Published

on

merger and acquisition 1

Refinitiv today released the Sub-Saharan African investment banking analysis for the first nine months of 2021. According to the report, an estimated US$387.5 million worth of investment banking fees were generated in Sub-Saharan Africa during the first nine months of 2021, a 15% increase from the same period in 2020. 

While debt capital markets underwriting fees increased 148% to US$117.8 million, the highest year-to-date period since our records began in 2000, fees from equity capital markets underwriting, M&A advisory and syndicated lending all declined from the first nine months of 2020.  Equity fees declined 17% to US$50.7 million, while syndicated lending fees declined 4% to US$148.2 million. Advisory fees earned in the region from completed M&A transactions reached US$70.8 million, down 3% from last year to the lowest first nine-month total since 2013.  Fifty-eight percent of all Sub-Saharan African fees were generated in South Africa during the first nine months of 2021, and 23% were earned from deals in the financial sector. Standard Chartered earned the most investment banking fees in the region during the first nine months of 2021, a total of US$33.1 million or an 8.5% share of the total fee pool.

MERGERS & ACQUISITIONS

Boosted by the US$44.1 billion Naspers/Prosus share swap in May, the value of announced M&A transactions with any Sub-Saharan African involvement reached US$78.3 billion during the first nine months of 2021, more than four-times the value recorded during the same period last year and the highest first nine-month total since our records began in 1980.  The number of deals increased 4% from last year to a three-year high of 584.

M&A involving a Sub-Saharan African target reached US$61.8 billion, again lifted by the share swap to an all-time record first nine-month total, while the number of deals increased 8% over last year.  Inbound deals, involving an acquiror outside of Sub-Saharan Africa, increased 86% to US$9.6 billion, while Sub-Saharan African outbound M&A more than doubled to US$11.5 billion. With advisory work on deals worth a combined U$52.1 billion, Morgan Stanley held the top spot in the financial advisor ranking for deals with any Sub-Saharan African involvement during the first nine months of 2021.

EQUITY CAPITAL MARKETS

Sub-Saharan African equity and equity-related issuance reached US$971.2 million during the third quarter of 2021, the highest quarterly total in more than two years.  Despite the strong third quarter, total proceeds raised during the first nine months of 2021 was down 42% from last year at US$1.2 billion, the lowest first nine-month total since 2005.   Pepkor Holdings, Lighthouse Capital and retail pharmacy chain Dis-Chem Pharmacies were among those in the region raising new equity funds from follow-on offerings during the third quarter.  There have been no initial public offerings in the region so far during 2021. Investec and Goldman Sachs share first place in the Sub-Saharan African ECM underwriting league table during the first nine months of 2021. 

DEBT CAPITAL MARKETS

Sub-Saharan African debt issuance totalled US$37.2 billion during the first nine months of 2021, up 149% from the value recorded during the same period in 2020 and the highest first nine-month total since our records began in 1980.  The number of issues increased 33% over the same period.  US$15.2 billion worth of the bond proceeds were raised during the third quarter alone, with both Prosus and the Federal Government of Nigeria raising US$4.0 billion.  Government & Agency issuance accounted for 55% of proceeds raised during the first nine months of 2021, while the financial sector accounted for 24%. Citi took the top spot in the Sub-Saharan African bond book runner ranking during the first nine months of 2021, with US$6.0 billion of related proceeds, or a 16% market share.

Continue Reading

Merger and Acquisition

Access Bank Completes Acquisition of African Banking Corporation of Botswana Limited

Published

on

Herbert Wigwe - Investors King

Africa’s leading bank, Access Bank Plc has now completed the acquisition of a 78.15 percent shareholding in African Banking Corporation of Botswana Limited (BancABC Botswana).

Access Bank announced in a statement signed by Sunday Ekwochi, Company Secretary, Access Bank Plc.

According to the lender, the new acquisition will form part of the Bank’s nexus for trade and payments in Southern Africa and the broader COMESA trade region.

BancABC Bostwana is the fifth-largest bank in Botswana and is a well-capitalized franchise poised for growth in its local market. The lender’s achievements in the retail banking space will provide an opportunity for the Bank to deploy its best-in-class digital platforms and product suites to the benefit of BancABC Botswana’s customers and enable it to complete strongly across its core business segments.

Commenting on the transaction, Dr. Herbert Wigwe, GMD/CEO of the Bank, “We are pleased with the successful conclusion of this transaction which will provide significant synergies by combining BancABC Botswana’s strong retail banking operation with Access Bank’s wholesale banking capabilities. It will also strengthen the quality of earnings through revenue diversification and growth in the corporate and SME banking segments for BanABC Botswana. The combination is another step towards our broader vision of becoming the world’s Most Respected African Bank.”

Continue Reading




Advertisement
Advertisement
Advertisement

Trending