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Investment Opportunities on the Rise as Nigeria Steps up Efforts to Strengthen Health Sector

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A new focus report, produced by Oxford Business Group (OBG), highlights the opportunities for investors to contribute to the development of Nigeria’s health sector by bridging funding shortfalls for planned infrastructure projects and supporting other segments with high growth potential.

 

Titled “Nigeria Health”, the report provides in-depth analysis of both the health sector and pharmaceutical industry in an easy-to-navigate and accessible format that includes key data and infographics. It also includes an interview with Mojisola Adeyeye, Director General, National Agency for Food and Drug Administration and Control, and contains in-depth case studies and viewpoints from key industry players, such as Fidson, Codix, GSK, Merck and Bayer.

The report explores the key role that public-private partnerships (PPPs) are expected to play in bringing a range of health care projects to fruition and helping Nigeria to achieve its ambitious goals for the sector, which include increasing the number of hospital beds to nearer the global average bed-to-population ratio of 2.7 per 1000 people.

It also considers the potential Nigeria has to boost local production capacity for consumable items, such as syringes, bandages and dressings, needles and catheters, and, in turn, reduce its import bill.

The opportunities emerging in medical technology are another focus. In this section, OBG provides in-depth coverage of the digital solutions disrupting health provision worldwide, which include extending care to underserved areas and facilitating remote diagnosis and treatments.

The report shines a spotlight on Nigeria’s pharmaceutical industry, tracking the growth stories of key companies with a presence in the country and featuring contributions from high-profile industry representatives.

With Nigeria’s reliance on China and India for pharmaceuticals evident at the start of the Covid-19 pandemic, OBG considers the scope for increasing local production capacity. It also notes the part that Nigeria’s Five Plus Five-Year Validity policy is expected to play in increasing partnerships between multinational pharmaceutical firms and local manufacturers.

In addition, the report examines the topical issue of counterfeit drugs, looking in detail at Nigeria’s efforts to address this and related challenges through monitoring and enforcement solutions.

Karine Loehman, OBG’s Managing Director for Africa, said that while Nigeria’s health sector continues to feel the knock-on effects of the Covid-19 pandemic and other, pre-existing challenges, the government had made notable progress in meeting key health indicators in recent years, while a successful PPP model bodes well for investors eyeing opportunities in infrastructure and other segments showing potential.

“Nigeria’s expanding population and underlying fundamentals make it an attractive proposition for the international investment community,” Loehman said. “With the pandemic having created new opportunities for expansion and innovation, and public funds limited, our report points to a health sector ripe for development, offering opportunities that range from capital projects to the provision of high-quality medical services at new and existing facilities.”

The report on Nigeria’s health sector forms part of a series of tailored studies that OBG is currently producing, which includes ESG Intelligence and Future Readiness reports, and other highly relevant, go-to research tools, such as country-specific Growth and Recovery Outlook articles and interviews.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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MIRI Strategic Emerging Markets Fund Invests N261.406 Million NGX Group

MIRI Strategic Emerging Markets Fund, a Hedge Fund based in Massachusetts, has invested N261.406 million in the Nigerian Exchange Group (NGX Group) Plc.

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Nigerian Exchange Limited - Investors King

MIRI Strategic Emerging Markets Fund, a Hedge Fund based in Massachusetts, has invested N261.406 million in the Nigerian Exchange Group (NGX Group) Plc.

NGX Group disclosed this in a statement signed by Mojisola Adeola, Company Secretary and obtained by Investors King.

MIRI Strategic Emerging Markets Fund was founded in December 2018 and raised $128.98M from 40 investors to commence operations.

The company, a substantial shareholder in NGX Group, purchased an additional 10,617,641 shares at N24.62 a unit on June 27, 2022. This translates to an additional investment of N261.406 million.

As an insider with existing holdings in NGX Group, NGX Group is required by Security and Exchange Commission (SEC) to disclose all insider trading like the MIRI Strategic transaction.

SEC instituted the policy to enforce transparency across the Exchange and ensure shareholders and the public are aware of all insiders’ activities.

The purchase took place at the Nigerian Exchange Limited trading floor in Lagos, Nigeria. See the picture before for other details.

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Enko Opportunity Growth Fund Ltd Invested N3.8 Billion in Ecobank

Enko Opportunity Growth Fund Ltd, linked to Mr. Alain Nkontchou, a Director of Ecobank Transnational Incorporated (ETI), has invested a total sum of N3.8 billion in Ecobank Transnational Incorporated.

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Ecobank - Investors King

Enko Opportunity Growth Fund Ltd, linked to Mr. Alain Nkontchou, a Director of Ecobank Transnational Incorporated (ETI), has invested a total sum of N3.8 billion in Ecobank Transnational Incorporated.

Enko Opportunity Growth Fund, a hedge fund company, acquired a total of 322,010,114 shares at N11.83 a unit in Ecobank Transnational Incorporated between March 30, 2022 to May 5, 2022, the bank disclosed this in a statement signed by Madibinet Cisse, Company Secretary.

The transaction was carried out at the Nigerian Exchange Limited (NGX) trading floor in Lagos, Nigeria.

The investment, classified as insider trading, was reported on Friday in line with the Nigerian Security and Exchange Commission (SEC) despite commencing purchase in March. Meaning, the announcement was done to further strengthen the bank’s perception among investors, especially after announcing strong positive financial results for the first half of 2022.

For the first half of 2022, Ecobank announced a 24% increase in profit after tax from N62.553 billion to N77.313 billion.

Commenting on the sound performance, Ade Ayeyemi, CEO of Ecobank Group, said our results for the first six months of 2022 reflect not only the benefits of the firm’s diversification but also our resilience and capabilities to continue serving our clients and customers in a challenging environment and still generate adequate returns responsibly for our shareholders. As a result, we delivered a return on tangible equity of 19.5%, a record, and increased earnings per share for shareholders by 24% year-on-year.

In addition, profit before tax increased by 24% to $261 million and by 53% if you adjust the increase for the significant depreciation of some of our critical African currencies to the US dollar, says Ade Ayeyemi, CEO, Ecobank Group.

 

 

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The US$6bn Water Investment Programme Set to Transform Zambia’s Social-economic Outlook by 2030

This week the Zambian Government launches its game-changing US$6billion Zambia Water Investment Programme during the African Union mid-year Summit in Lusaka.

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water projects - Investors King

By Alex Simalabwi, Executive Secretary  of the Global Water Partnership Africa-Coordination

This week the Zambian Government launches its game-changing US$6billion Zambia Water Investment Programme during the African Union mid-year Summit in Lusaka.

The Programme is part of the Continental Africa Water Investment Programme (AIP) that was adopted by African Union Heads of State and Government as part of the Programme for Infrastructure Development in Africa – Priority Action Plan 2, during the AU Summit on 7th February 2021.

The Country is faced with challenges of poor access to clean water and decent sanitation. Joint UNICEF and WHO statistics indicate that over 6.4 million people in a population of about 18 million, do not have access to clean running water and nearly 8 million lack access to adequate sanitation. This affects the social economic development of the country with women and girls, mostly tasked with collecting water and doing home chores, bearing the brunt of it.

Estimating the relationship of water with economic growth and jobs is challenging due to lack of data, particularly in regard to determining the degree of water dependency of jobs. However, the UN reports that for every dollar invested in water and sanitation, there is a US$4.3 Ureturn in the form of reduced health care costs for individuals and societies around the world.

The UN estimates that three out of four jobs that make up the global workforce are either heavily or moderately dependent on water. Investment in small-scale projects including rainwater harvesting providing access to safe water and basic sanitation in Africa could offer an estimated economic return of US$ 28.4 billion a year, or nearly five per cent of gross domestic product (GDP) of the continent. Such investments have a beneficial effect on employment.

Led by the Ministry of Water Development and Sanitation, the Zambia Water Investment Programme hopes to leverage up to US$6 billion in water security investments and the creation of about 200,000 direct formal jobs by 2030. In addition, the Programme envisages that at least 800,000 indirect jobs will be created for vulnerable and poor youths, women, and other marginalized groups.

What makes this Investment Programme different from other such frameworks is that, firstly there is high-level political commitment at the Head of State level within the country and internationally, through the African Union and the High-Level Panel of former and current Heads of State. The Panel was launched by the AU Chairperson and President of Senegal H.E. Macky Sall, at the 9th World Water Forum in Dakar, Senegal on 25th March, 2022. Its objective is to develop actionable pathways for mobilising $30 billion annually by 2030, for implementing the AIP, under which Zambia’s Water Investment Programme falls, and to close the existing water investment gap in Africa.

The Panel is led by three Co-chairs:

  • E. Macky Sall, as Co-Chair in his capacity as Chairperson of the African Union.
  • E Mark Rutte, Prime Minister of the Kingdom of The Netherlands
  • E. Hage Geingob, President of the Republic of Namibia
  • E Jakaya Kikwete, (Alternate Co-Chair) former president of the United Republic of Tanzania, who is also Chairperson of the Board of Global Water Partnership Southern Africa and Africa Coordination.

Secondly, the Investment Programme also known as AIP Zambia, is home-grown and aligned to the Four Strategic Development Areas of Zambia’s Eighth National Development Plan, 2022-2026. It was widely consultative and inclusive with inputs from development partners and local stakeholders. Global Water Partnership (GWP) Zambia joined the water sector development partners in designing the Programme.

AIP Zambia comes with a first of its kind mutual accountability tracking tool, the AIP-PIDA Scorecard that was adopted by AU Heads of States in February 2022. The scorecard will track progress in investment mobilisation, identify gaps, bottlenecks and define areas for mutual accountability. AUDA-NEPAD will report its progress to the African Union every six months.

The Programme recognizes that financing is a key issue, so it promotes Public-Private Partnerships (PPPs) to water resourcing via the Blended Finance approach, as a viable way of making development priorities on water more investable. According to a recent Report by WaterAid, this approach involves the strategic use of public or philanthropic development capital to de-risk investments related to the SDGs, in order to attract commercial capital from private investors who would otherwise not have participated.

Rather than rely on treasury and donor funding, AIP Zambia hopes to leverage a water development fund, resourced via blended financing mechanisms that will leverage Official Development Assistance (ODA) and grant finance to de-risk priority water investments.  The various financing models include sovereign wealth funds, green local municipal water bonds, international investment guarantees, institutional investors and private equity, foundations, value-based impact investment, and climate finance. For local and rural populations, off-grid solar powered water distribution networks combing local water-energy-food security, scaling up rainwater harvesting schemes will be central.

The AIP Zambia delivery model will build on experiences from similar delivery units from other parts of the world including India’s Swachh Bharat Mission led by Prime Minister Narendra Modi, who slashed through India’s notorious red tape and pushed aside thorny political divisions to see it through. According to UNICEF the number of people without a toilet in India reduced from 500 million to 50 million in four years, between 2014 and 2018.

Positive spin-offs of the Zambia Water Investment Programme are expected to benefit communities in rural areas and densely populated shanty townships. The Programme will also see the creation of gender-centred climate resilient programmes, skills training and the growth of green-economy related small and medium enterprises.

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