Konga Health, an ambitious, technology-driven healthcare solutions company, has signed a strategic Memorandum of Understanding (MoU) with the Association of Nigerian Private Medical Practitioners (ANPMP) to boost access to quality healthcare services in Nigeria, including the delivery of genuine drugs and medical supplies.
The signing of the Memorandum of Understanding (MoU) took place on Tuesday, June 29, 2021, at the company’s corporate headquarters at Yudala Heights on Idowu Martins, Victoria Island, Lagos.
Present during the signing of the partnership agreement was Co-CEO, Konga Group, Mr. Nick Imudia; Vice President, Konga Health, Mr. Festus Akinola; National Portfolio Manager, Mr. Cornelius Umanze and Group Company Secretary, Barr. Chris Eze Ozims, among others. Also present were members of the Executive Council of ANPMP, led by its President, Dr. UgwuIykeOdo; Vice-President, Dr. Kay Adesola and General Secretary, Dr. Ned Okoro and other executive members of the association.
The landmark partnership will see Konga Health – a digitally-driven healthcare company – boost standards across verticals in the Nigerian health sector.
Specifically, the company intends to achieve this by improving access to quality healthcare for the reached, under-reached and unreached members of the populace through the importation and timely delivery of certified pharmaceutical products and medical supplies across the nooks and crannies of Nigeria through a wide chain of distribution centers. Furthermore, the development will guarantee the gradual eradication of the incidence of fake drugs, while also providing a credible and robust platform for local and international donor agencies, government, non-governmental institutions as well as philanthropic and public-spirited individuals who wish to support access to quality Medicare with clear data to the remotest part of Nigeria.
‘‘We are delighted and see it as a privilege to have finally signed this very strategic partnership between Konga Health and ANPMP which will positively change the face of healthcare delivery in Nigeria,’’ disclosed Imudia, Co-CEO, Konga Group. ‘‘This is another important milestone recorded by the Konga Group. It is also in line with our other disruptive efforts, including launching the world’s first composite e-commerce company, our CBN-certified mobile wallet, advanced digital logistics company, frontline travel booking agency and much more.’’
Also speaking, the President of ANPMP, Dr. Odo described the partnership with Konga Health as a much-needed development that will transform the fortunes of the Nigerian healthcare delivery system.
“This MoU will change the dynamics of the healthcare delivery system. At a time in the world when everything is changing and medical practice has shifted in the direction of technology, this understanding between the Konga Group, an ICT and logistics conglomerate and the Nigerian private doctors who cater for the healthcare needs of over 70% of Nigerians, could not have come at a more desirable season.
“This partnership is a bold step at the concept and vision of integrated private sector synergy aimed at revamping our health sector and bringing global best practices home. The MoU has given hope to the dire need to build a reliable database in the healthcare space, integrate local and international contents in raising advocacy for the actualization of Universal Health Coverage, development of a functional network of electronic health record system, elevating public-private partnership to its prime place in the healthcare delivery structure, inspiring infrastructural development, training, intellectual tourism, research and institutional quality monitoring and evaluation as well as drive programme and projects that connect and benefit private doctors across the land in an engagement effort that aggregates into a new national orientation in healthcare development in Nigeria,” he said.
On his part, VP, ANPMP, Dr. Adesola, also hailed the partnership with Konga Health as one that will greatly benefit Nigerians and improve standards in the healthcare sector, even as he lauded the company’s reach, capacity, and future outlook.
This point was further espoused by Akinola, VP, Konga Health, who explained that the collaboration will further deepen the role of Konga Health in strengthening Nigeria’s healthcare system and delivery.
“The collaboration between Konga Health and ANPMP is a welcome development. Nigerians should expect the best from this partnership. The partnership will help Konga Health to actualize its mission of making healthcare accessible to all, the “unreached” and the “under-reached” in society. It will also transform the system and reduce the incidence of fake drugs and medical devices supplies through the introduction of its strategically positioned distribution infrastructure,” Akinola said.
Also commenting on the partnership, National Portfolio Manager, Umanze cited the prevalent danger of fake drugs, noting that the partnership between Konga Health and private medical practitioners will change the narrative for many Nigerians.
“Statistics from the World Health Organisation (WHO) have shown that the incidence of fake and adulterated drugs is frightening, especially in developing countries, with an urgent need for businesses to step in to tackle the ugly trend. For us at Konga Health, this is not just a business, but also a social responsibility to save an adulterated drugs-challenged society like Nigeria from the dangers associated with this trend,” he said.
He concluded by expressing confidence in the strategic importance of the partnership, especially in making quality healthcare accessible through private hospitals.
“Through this collaboration, we are bridging that gap so that our clients do not only have their necessary medicines at the right time but also that they have such supplies in genuine and unadulterated form,” he disclosed.
The MoU is one of the recent collaborations Konga Health has recorded since its incorporation. Atech-driven healthcare aggregator, Konga Health supplies quality medicines and diagnostic equipment to hospitals and other clients through its strong online and offline outlets. Konga Health also provides a range of services, including the provision of genuine medication, medical devices, ultra-modern equipment, pharmaceuticals, among other health-related essential services. Since the advent of the dynamic company, it has remained at the forefront for pharmacies seeking access to quality pharmaceuticals, as well as medical and diagnostic equipment.
The latest collaboration with the ANPMP is expected to further redefine medical operations in Nigeria and bequeath hitch-free, data-driven quality healthcare services to millions of Nigerians.
Nigerian Retail-Tech Startup Alerzo Acquires Shago Payments To Boost Growth
Alerzo, a Nigerian retail-tech startup has acquired fintech company Shago Payments to boost growth. The acquisition of Shago payments will enable the integration of Shago into the company’s payments arm, AlerzoPay.
The new development will provide the informal retail stores access to new digital services such as mobile airtime top-up, bill payments and peer-to-peer transfers.
Founded in 2019, the Ibadan-based retail-tech startup, Alerzo, is an all-in-one technology and services platform that transforms how Nigeria’s informal retail stores operate. Retailers can order stock, have it delivered quickly, receive and make cashless payments, and track store profitability. Alerzo currently works with more than 150,000 informal retail stores.
The startup announced a US$10.5 million Series A round, led by London-based Nosara Capital, in August, and since then has more than doubled its revenues and built a payments business. The latter was facilitated by the recent acquisition of Shago Payments, a fintech startup founded by payments industry veteran Sabastine Enechi.
Alerzo has also expanded its operations to the Middle Belt and Northern regions of Nigeria and now operates in Abuja and Kano. The company plans to serve most of Nigeria before the end of next year.
Alerzo Founded by Adewale Opaleye, said he created the company to meet a core need that his mother, a businesswoman, had at the time.
“I started Alerzo to help my mom, a single mother who ran two informal retail stores to support me and my three siblings. Before Alerzo, she had to close her shop and travel for hours to buy the inventory to stay in business.
“Women are often victims of theft because street boys know retail store operators often carry cash. I wanted to apply what I learned in China to make life better for working mothers in Nigeria.” He said.
Today, Alezo one of the fastest-growing startups in Nigeria, announced that its annualized September transaction volume had grown more than five times since the beginning of 2021, exceeding $155 million.
Commenting on the acquisition, Iyinoluwa Aboyeji, the co-founder of Flutterwave and Andela and a member of Alerzo’s advisory board, said that the firm’s decision to serve communities “that are truly excluded” was inspiring: “Alerzo’s focus on excluded but commercially viable commerce communities in smaller cities like Ibadan is exemplary and visionary.”
He also said most businesses “talk a good game” about financial and economic inclusion but then proceed to focus their businesses on commercially savvy megacities like Lagos or Nairobi.
AB InBev Opens Applications For Beer Garage Africa Innovation Challenge
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$150,000 in technology credits from partners.
“We are really excited by this partnership, which allows us to drive a pan-African program. With a billion people in the continent, over 300 million new internet users expected to come online over the next three years, a fast-growing mobile internet penetration – and now, with global venture capital money making its way to African entrepreneurs, this is a great opportunity for startups to engage with AB InBev as a partner of choice,” said Ajay Ramasubramaniam, founder and chief executive officer (CEO) of Startup Réseau.
Pritam Dutta, global director for fintech ventures and innovation at AB InBev, said the Beer Garage Africa Challenge was an opportunity to leverage the emerging tech startup ecosystem and funnel novel ideas into AB InBev.
“We set out to build out a stronger connect into the Africa ecosystem, find disruptive startups which could be a great pipeline for our future disruptive innovations and further accelerate our innovation agenda, delivering strong business impact,” he said.
Applications for the challenge are now open here.
Beer Garage is one of the global innovation hubs at AB InBev with the objective of driving innovation by building a strong community of ecosystem stakeholders.
Sub Saharan Africa Mergers and Acquisition Transactions Totalled US$ 78.3 Billion During First Nine Months of 2021
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.
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