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Konga Health Sign MoU with Association of Nigerian Private Medical Practitioners to Boost Access to Quality Healthcare Services

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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.

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NNPC E&P Ltd and NOSL Begin Oil Production at OML 13, Akwa Ibom State

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NNPC Exploration and Production Limited (NNPC E&P Ltd) and Natural Oilfield Services Limited (NOSL) have commenced oil production at Oil Mining Lease 13 (OML 13) located in Akwa Ibom State.

The announcement came through a statement signed by Olufemi Soneye, the spokesperson of NNPC E&P Ltd, highlighting the collaborative effort between the flagship upstream subsidiary of the Nigerian National Petroleum Corporation (NNPC) and NOSL, a subsidiary of Sterling Oil Exploration & Energy Production Company Limited.

The production, which officially began on May 6, 2024, saw an initial output of 6,000 barrels of oil. The partners aim to ramp up production to 40,000 barrels per day by May 27, 2024, reflecting their commitment to enhancing Nigeria’s crude oil production capacity.

Soneye said the first oil flow from OML 13 shows the dedication of NNPC E&P Ltd and NOSL to drive growth and development in Nigeria’s oil and gas sector.

He stated, “The achievement does not only signify the culmination of rigorous planning and execution by the teams involved but also represents a new era of economic empowerment and development opportunities for the host communities.”

For Nigeria, the commencement of oil production at OML 13 holds immense significance. It contributes to the country’s efforts to increase its oil production capacity, essential for meeting domestic energy needs and driving economic growth.

Moreover, Soneye reiterated NNPC E&P Ltd and NOSL’s commitment to operating in a safe, environmentally responsible, and community-beneficial manner.

This partnership underscores their dedication to sustainable practices and fostering positive impacts in the local communities where they operate.

The commencement of oil production at OML 13 marks a pivotal moment in Nigeria’s oil and gas industry, signifying not only increased production capacity but also the collaborative efforts between industry players to drive growth and development in the nation’s vital energy sector.

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Manufacturers Grapple with Losses Amid Economic Strain

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In the first three months of 2024, some of Nigeria’s major manufacturers found themselves navigating treacherous waters as financial losses mounted amidst economic turbulence.

According to data compiled by BusinessDay, rising interest rates and a further devaluation of the naira contributed to the woes of these industrial giants.

The latest financial reports from 13 listed consumer goods firms paint a grim picture, with seven of them collectively recording a staggering loss of N388.6 billion in Q1.

Names such as International Breweries Plc, Cadbury Nigeria Plc, and Nigerian Breweries Plc were among those that bore the brunt of the downturn.

On the flip side, a few companies managed to buck the trend. BUA Foods Plc, Unilever Nigeria Plc, and Dangote Cement Plc reported a combined profit of N171.9 billion, showcasing resilience amidst the challenging economic landscape.

While the overall revenue of these manufacturers saw an impressive 79 percent increase to N2.27 trillion, it was overshadowed by soaring financing costs.

In Q1 alone, finance costs skyrocketed to N616.5 billion from N65.8 billion in the same period in 2023.

Analysts attribute these mounting losses to the confluence of factors, including the devaluation of the naira and escalating interest rates. With the naira experiencing nearly a 30 percent devaluation this year alone, coupled with a 40 percent devaluation last June, companies faced intensified pressure on their margins.

Moreover, the Central Bank of Nigeria’s decision to raise the monetary policy rate to 24.75 percent in March further exacerbated the situation.

This marked the second consecutive increase, following a 400 basis points hike in February, aimed at curbing inflation.

The adverse effects of these economic headwinds were felt across various sectors. Nestle reported the highest finance cost of N218.8 billion, followed closely by Dangote Cement and Dangote Sugar Refinery.

Commenting on the challenging business environment, Uaboi Agbebaku, the company secretary at Nigerian Breweries, highlighted how increased interest rates and FX volatility led to a staggering 391 percent rise in net losses compared to the same quarter in 2023.

Looking ahead, manufacturers remain cautiously optimistic but vigilant. Thabo Mabe, managing director at NASCON, emphasized the importance of navigating the turbulent waters while executing robust strategies to ensure sustained growth.

As Nigeria grapples with economic uncertainties, the resilience of its manufacturing sector will play a pivotal role in shaping the nation’s economic trajectory.

However, concerted efforts from both the public and private sectors will be needed to steer the industry towards stability and growth.

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Shell Nigeria’s $1.09 Billion Tax and Royalty Payments Power Economic Growth

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Shell Petroleum Development Company of Nigeria Limited (SPDC) and Shell Nigeria Exploration and Production Company Limited (SNEPCo) paid a sum of $1.09 billion in corporate taxes and royalties to the Nigerian government in 2023.

This figure, revealed in the recently published 2023 Shell Briefing Notes, shows Shell’s commitment to supporting Nigeria’s development through substantial financial contributions.

According to the briefing notes, SPDC disbursed $442 million in taxes and royalties, while SNEPCo remitted $649 million.

Despite a decrease from the $1.36 billion paid in 2022, these payments highlight Shell’s continued role as a key contributor to Nigeria’s revenue generation efforts.

Osagie Okunbor, Managing Director and Country Chair of Shell Companies in Nigeria said “Shell companies in Nigeria will continue to contribute to the country’s economic growth through the revenue we generate and the employment opportunities we create by supporting the development of local businesses.”

The briefing notes also provided insights into Shell’s ongoing operations and initiatives in Nigeria. The company’s investments span more than six decades, with a focus on powering progress and promoting socio-economic development.

Through collaborations with stakeholders and communities, Shell aims to provide cost-effective and cleaner energy solutions while fostering sustainable growth.

“It is important to emphasize that Shell is not leaving Nigeria and will remain a major partner of the country’s energy sector through its deep-water and integrated gas businesses,” Okunbor reiterated, underscoring Shell’s long-term commitment to Nigeria’s energy landscape.

Shell’s contributions extend beyond financial payments, encompassing initiatives aimed at enhancing local capacity building, fostering job creation, and promoting social development. By prioritizing safe operations and environmental stewardship, Shell seeks to align its business objectives with Nigeria’s sustainable development goals.

As Nigeria navigates economic challenges and seeks avenues for growth, Shell’s substantial tax and royalty payments serve as a testament to the company’s enduring partnership with the Nigerian government and its commitment to driving economic progress.

Through continued collaboration and investment, Shell endeavors to play a pivotal role in Nigeria’s journey towards prosperity and sustainability.

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