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Medview Airline to List on NSE

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  • Medview Airline to List on NSE

Medview Airline, one of Nigeria’s fastest growing flag carriers, will be listed by introduction on the Nigerian Stock Exchange on Jan. 31, a senior official said on Sunday in Lagos.

Medview’s Executive Director, Business Development, Mr Isiaq Na-Allah, said the listing would enable the airline to expand its route network and acquire more aircraft to boost its operations.

According to him, Medview is the first airline to list its shares on the local bourse in the last decade.

Harping on the advantages, Na-Allah said the growth projection and market forecast informed the airline’s decision to be listed on the NSE to give members of the public the opportunity to be part of the airline through share holding.

He named Kedari Capital Ltd and Trustyields Securities Ltd as the financial advisers/issuing house and stockbrokers to Medview Airline in respect of the listing.

“Medview Airline (christened “The Airline of Nigeria”), started from a humble beginning 12 years ago as a cargo, tour and charter operator.

“Not contented with tickets and destination sales, the airline ventured into Hajj operations.

“The airline’s forays into pilgrims airlift has revolutionised pilgrims handling and airlift in Nigeria and in the West African sub-region.

“Today Medview is the benchmark and the airline of choice when it comes to Hajj operations in Nigeria.

“It is ranked number one by the National Hajj Commission of Nigeria for hitch-free Hajj operations,” Na-Allah said in a statement.

Buoyed by the success of Medview Travel and Tours, Hajj operations, charter flights, he said the airline upped the ante and went into scheduled operations in 2012, starting with domestic routes.

According to him, just within four years, the airline has become a household name in the aviation industry.

“Within this short period, the airline has eight destinations – Lagos, Abuja, Port Harcourt, Kaduna, Yola, Enugu,Owerri and Maiduguri on its domestic network, and had flown over two million passengers.

“To its credit, Medview Airline has recorded a steady growth of 20 per cent in turnover. This gave it the confidence to go international, and now operates flights to London, Jeddah, Accra, Monrovia and Freetown.

“The airline has secured all necessary approvals to link all the countries in the Economic Community of West African States (ECOWAS) in the next few months,” Na-Allah said.

He said also on the front burner was expansion on the international routes to United States via Baltimore, United Arab Emirates via Dubai with connections to Europe and the Far East through a code share airline partner.

Na-Allah said in recognition that aviation was global, the airline was in partnership with notable brands including Boeing Commercial Airplane Group, Hahn Air, Air Atlanta, Saudia Cargo, Ethiopian Airlines, Euro Atlantics and Amadeus.

He said: “the airline holds the necessary certification as a full-fledged carrier including Air Transport Licence (ATL), Air Operators Certificate (AOC), Air Carrier Permit (ACP) and the International Organisation Safety Assessment (IOSA) issued by the International Airlines Transport Association (IATA).”

According to him, the airline currently boasts of over two million passengers on its domestic routes and over 200,000 passengers on its international routes.

He said Medview Airline had conveyed 300,000 pilgrims to perform Hajj since 2007, while it had also carried 46 million tonnes of cargo annually since 2009.

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.

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Econet Group and Mastercard To Collaborate on Fintech Solutions For Covid-19 Response in Africa

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The Econet Group through its subsidiary Cassava Fintech International (Cassava Fintech) and Mastercard have entered into a strategic partnership to advance digital inclusion across Africa and collaborate on a range of initiatives including expansion of the Africa CDC TravelPass.

TravelPass is a digital health pass developed by Cassava Fintech and offered in conjunction with the Africa Centres for Disease Control and Prevention (Africa CDC). It is accessible to users of Cassava Fintech’s Sasai SuperApp and is recognised as one of the leading initiatives in the fight against the cross-border spread of Covid-19 in Africa. Mastercard is partnering with Cassava Fintech to enhance the security of TravelPass through Mastercard’s Community Pass platform. Mastercard Community Pass is an interoperable digital platform facilitating service delivery for marginalised individuals and communities, including access to critical health services like patient care plan tracking for Covid-19.

The joint initiative between Mastercard and Cassava Fintech seeks to offer a unified solution with greater convenience and enhanced security, that is expected to promote safe cross border travel in Africa in response to the Covid-19 pandemic.

The partnership will also allow the two organizations to explore collaboration such as the further integration of the Community Pass with Cassava Fintech’s mobile and financial services, acquiring and processing of card payments across the continent, along with the introduction of a virtual or physical card on the Sasai SuperApp.

Cassava Fintech’s CEO, Darlington Mandivenga said the partnership with Mastercard would pave the way for both companies to jointly tackle the challenges facing African economies as they re-open post the COVID-19 pandemic.

“We are excited to work with Mastercard to explore solutions that will, among other things, mitigate the risk of falsified presentation of a third party’s Travel Pass at access and transit points,” Mandivenga said, adding that the same technology could also be used in payment solutions.

Cassava Fintech uses an integrated model to provide financial and digital services to ensure a “financially inclusive future that leaves no African behind”.

“We look forward to joining hands with Cassava Fintech in exploring new solutions that will make a difference and benefit the continent. In addition to digital innovation for future travel, Cassava will also leverage our secure payments network to advance access to financial services,” said Mark Elliott, Divisional President, Southern Africa, Mastercard.

Mastercard is a leading global technology company focused on building an inclusive, sustainable digital economy that benefits everyone, everywhere, by making transactions safe, simple, smart and accessible.

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Nestlé Health Science to Acquire Nuun

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Nestlé Health Science and Nuun, a leader in functional hydration, have entered into an agreement in which Nestlé Health Science will acquire Nuun.

The acquisition complements Nestlé Health Science’s existing broad portfolio of active lifestyle nutrition brands with Nuun’s range of clean, low-sugar, effervescent tablets and powders.

“Every day, health-conscious consumers are becoming more aware of how functional hydration products can add to their overall well-being as well as support them during exercise by replacing the minerals that the body loses. That growing awareness is reflected in the steady growth of the category,” said Greg Behar, CEO of Nestlé Health Science. “Nuun is a leader in the fast-growing functional hydration category with its high-quality, clean, plant-based products. We look forward to combining our companies’ expertise to bring Nuun to more people around the world.”

Nuun was founded in Seattle, Washington in 2004, pioneering the separation of electrolyte replacement from carbohydrates. Its low-sugar electrolyte tablet revolutionized the sports beverage market. It now has a broad range of effervescent tablets and powders containing additional minerals and vitamins for energy, relaxation and overall well-being.

“Nestlé Health Science and Nuun share the same philosophy: nothing is more important than health and well-being,” said Kevin Rutherford, CEO of Nuun. “In joining Nestlé Health Science, Nuun will further its mission of ‘hydration that empowers the world to move more.’ The Nuun team has built an incredible business and now with the reach, expertise and capabilities of Nestlé, I’m confident that together we will grow, even more, making people and the planet healthier.”

The transaction is expected to close in Q3 2021. Financial details are not being disclosed.

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itel Partners Amatem and Drug-Aid Distributes Relief Materials In Fight Against Malaria

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itel Malaria Day

To commemorate this year’s World Malaria Day, itel recently partnered with Amatem Softgel, an anti-malaria drug in Nigeria, and Drug-Aid Africa, a non-governmental organisation (NGO) that provides medical drug supplies and support to low-income patients in Nigeria and across Africa.

A statement by itel explained that in tandem with the theme of this year’s World Malaria Day, ‘Zero Malaria Starts with Me’, the three brands joined the global fight against malaria by donating treated mosquito nets, free medical tests, mosquito repellent cream and free anti-malaria drugs to over 1,500 households in Isale-Akoka Community, Bariga, Lagos state.

It explained that malaria is a prevalent disease in sub-Saharan Africa, and was responsible for thousands of deaths yearly, adding that as socially responsible organisations, itel, Amatem Softgel, and Drug-Aid Africa, “believe that they have a quota to contribute in ensuring a relatively healthier society.”

The Marketing Manager for West Africa and Nigeria, itel, Oke Umurhohwo, expressed commitment in bridging the gap in low-income communities through its ‘Love Always On CSR initiative.’

He added that the brand was partnering with Amatem Softgel and Drug Aid Africa to provide these communities, “with an even greater fighting chance against malaria is a part of our commitment to them.”

The General Manager, Elbe Pharma, Shivakumar, said: “Malaria is a life-threatening disease, but it is preventable and curable. We at Elbe continue to find a better way to combat this disease, support the vulnerable ones especially the young children. Hence, the introduction of this innovative anti-malaria brand AMATEM SOFTGEL and this CSR partnership.”

The Programme Officer, Drug-Aid Africa, Oluseyi Sanyaolu, said malaria has been ravaging the vulnerable in the society for years, saying, “it is the reasons why Drug-Aid Africa is dedicated to supporting those in indigent communities with medicines and medical supplies. Together, we can end this menace.”

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