Following its aggressive expansion drive to at least have presence in all the key regions of the continent before further unit expansion, the Ghanaian e-health startup mPharma in partnership with Belayab Pharmaceuticals has launched a new pharmaceutical franchise in Ethiopia called Haltons Pharmacies. This new opening makes it the sixth of such franchises across the continent.
Gregory Rockson, chief executive officer (CEO) of mPharma
mPharma which was founded in 2013 is a technology-driven healthcare company that specialises in vendor-managed inventory, retail pharmacy operations, and market intelligence serving hospitals, pharmacies, and patients. With headquarters in Ghana, mPharma which is a venture-backed startup has expanded its operations to four other African countries, namely Nigeria, Zambia, Kenya, and Rwanda, and currently has a network of over 300 pharmacies serving more than 100,000 patients each month.
In 2019, mPharma acquired Kenya’s second-largest pharmacy chain Haltons, and the new franchise agreement with Belayab will see Haltons launch in Ethiopia, mPharma’s sixth market in Sub-Saharan Africa and third in East Africa.
Through the franchise, mPharma and Belayab Pharmaceuticals will open two operational pharmacies in Addis Ababa this year. Each pharmacy launched will offer Mutti – mPharma’s health membership programme – to patients in Ethiopia. Patients will benefit from discounts on their drugs and financing options that can help alleviate the costs of healthcare. Mutti will particularly benefit uninsured patients in Ethiopia who pay out-of-pocket for their medication and therefore bear the brunt of high drug prices.
“mPharma is connecting and empowering an inclusive universal medical coverage that benefits everyone in Africa by making access to healthcare affordable and safe. We are excited to be entering the Ethiopian market in partnership with Belayab Pharmaceuticals as we continue to build our long-standing commitment to partnerships for the good health of patients,” said Gregory Rockson, chief executive officer (CEO) of mPharma.
“This is an opportunity to develop a commercially-sustainable and scalable health impact in Ethiopia by improving access to quality essential medicines that will help the society-at-large so that everyone can benefit from affordable and safe treatment.”
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
The world woke to unusual images on their television screens last week with looting, vandalism and rioting portrayed on the streets of the Senegalese capital. The worst civil unrest in Senegal in decades was short-lived, but has left a distinct mark on the country’s international image.
NJ Ayuk, Executive Chairman of the African Energy Chamber, CEO of pan-African corporate law conglomerate Centurion Law Group
After all, Senegal has presented itself as the shining star of West Africa in recent years. In addition to the country being an oil and gas hub spot, Senegal is also a center for renewable energy investment, business development, and for galvanizing growth in sectors such as tourism and fishing. Accordingly, it is not surprising that images of burning cars and stone-throwing protestors caused concern, particularly when they are followed by shots of destroyed supermarkets and fuel stations, all of which are symbols of well-established foreign companies in Senegal. It is curious that a story about a political leader being taken to court on rape charges who is then arrested for inciting civil unrest translated into violence against foreign companies. Curious and concerning, that popular dissatisfaction be directed in this manner: to undermine businesses and wealth-generating enterprises.
Senegal is undergoing a veritable economic revolution that has the power to lift millions out of poverty and provide jobs, wealth and prosperity for the whole nation. Through the exploitation of its energy resources, both renewable and non-renewable, Senegal is witnessing a renaissance that will open a myriad of new development opportunities, power the country and offer the next generation of youth choices that no Senegalese has had in the past. However, for this potential to be fulfilled, the country needs foreign investment, know-how, training, skill-transfer and, above all, stability. No foreign company is interested in investing in a destination where its offices are at risk of being vandalized every time an opposition leader is unwilling to face the country’s legal system and uses social fears to distract the public debate.
President Macky Sall has done a tremendous job in attracting investors and opening opportunities in the Senegalese market in which business is already producing jobs, wealth and growth in the economy, particularly through the country’s vast energy resources. These efforts must be supported by all and maintained through a stable, business-friendly and transparent environment.
If we turn on ourselves through violence to express our grievances, we will end up driving away the very opportunities to address the problems behind those grievances, be it poverty, unemployment, social inequality or access to education. We need to stand together behind the political leaders that are driving our country and our continent forward, and support those companies that are developing our resources so that together we can create value, jobs and wealth for all.
NJ Ayuk is the Executive Chairman, African Energy Chamber
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
On-demand delivery service, Kwik Delivery has expanded its delivery service to 4-wheels vehicles, becoming the first full-stack last-mile delivery platform in Nigeria. Kwik Delivery said that it is expanding its app-based breakthrough delivery service to 4-wheels delivery vehicles. This includes vehicles such as hatchbacks, pick-ups, SUV, vans and small trucks up to 5 tons. Kwik Delivery is a B2B delivery platform focusing on providing reliable delivery services inside large Nigerian cities by connecting riders and customers. The service currently covers Lagos and Abuja.
Romain POIROT-LELLIG, Founder & CEO of Kwik Delivery
“Many of our customers have expressed the need to use our platform to deliver large items or merchandise that do not fit in a bike’s cargo box” explains Romain POIROT-LELLIG, Founder & CEO of Kwik Delivery. “By enlarging its platform to these new larger types of vehicles, the Kwik platform becomes the first full-stack last-mile delivery platform in Nigeria.”
Using the Kwik Delivery app, customers can request a delivery vehicle track their shipment in real time and benefit from many additional vehicles. The 4-wheels vehicle can be booked for a same day delivery or for any future date and loaders can be requested as well. Kwik Delivery is vetting the vehicles and drivers and ensures consistent quality of service. It also provides goods in transit insurance.
Launched in 2019, Kwik Delivery is an on-demand, last-mile delivery platform that connects African businesses to independent delivery riders, dubbed Kwiksters. The Kwik platform is currently open to Kwiksters operating in Lagos State and Abuja. The Kwik Delivery app is available on iOS and Android. Kwik Delivery is the trading name of Africa Delivery Technologies SAS.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
One of Africa’s most successful Fintech firms Flutterwave has joined the rank of unicorn with valuation of over $1 billion after joining two other Nigerian firms, Jumia and Interswitch after raising $170 million in Series C funding. The new round was led by growth-equity firms Avenir Growth Capital and Tiger Global. New and existing investors who participated include DST Global, Early Capital Berrywood, Green Visor Capital, Greycroft Capital, Insight Ventures, PayPal, Salesforce Ventures, Tiger Management, Worldpay FIS 9yards Capital.
Flutterwave’s CEO Olugbenga Agboola
This funding round comes a year after Flutterwave raised $35 million Series B and $20 million Series A in 2018. In total, Flutterwave has raised $225 million and is one of the few African startups to have secured more than $200 million in funding.
Flutterwave was founded by entrepreneur Iyinoluwa Aboyeji and Olugbenga Agboola in 2016, the company is present in 20 African countries, with a reach of over 33 countries on the continent. According to CEO Olugbenga Agboola, the company grew more than 100% in revenue within the past year due to the pandemic without giving specifics on numbers. This contributed to its compound annual growth rate (CAGR) of 226% from 2018.
With this new capital, Flutterwave says it will invest to accelerate customer acquisition in existing and international markets, as well as develop complementary and innovative products. One of such products is the newly launched Flutterwave Mobile, an app to help to accelerate eCommerce growth as a result of the success of the Flutterwave Stores.
This announcement comes a few months after Paystack’s acquisition by stripe for more than $200 million last year. While there were rumours of Flutterwave taking the same route, this Series C round suggests otherwise.
Flutterwave is the third unicorn coming out of Nigeria after Interswitch and the e-commerce company, Jumia. But what’s really impressive about this is how quickly Flutterwave joined the small club of unicorns – under 10 years.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
There are indications that oil and gas businesses in South Africa have welcomed the announcement by the South African Department of Mineral Resources and Energy (DMRE) on the merger of Central Energy Fund (CEF) subsidiaries iGas, PetroSA and the Strategic Fuel Fund (SFF). The merger will be effective from 1 April 2021 and the new company will be called the South African National Petroleum Company.
PetroSA
The merger, driven by the pursuit of implementing a new company that has a streamlined operating model via the development of a shared services system and a common information platform, comes a few months after cabinet approval and the confirmation that PetroSA had incurred losses of R20 billion since 2014. Additional factors which prompted the move included the determination to strengthen PetroSA which had not had a permanent CEO in five years prior to the appointment of CEO Ishmael Poolo last and, had become majorly ungainful since its failure to secure gas for the gas-to-liquids refinery project in Mossel Bay.
While the merger deadline has been set, the portfolio committee expressed reservations to the department’s likelihood of meeting the deadline, considering the existing legislative regime, pending issues raised in the SFF and PetroSA forensic reports, as well as PetroSA’s current insolvency and liquidity challenges, the official press statement on the briefing revealed.
“South Africa’s energy sector is entering a new dawn,” said NJ Ayuk, Executive Chairman of the African Energy Chamber. “With gas discoveries off the coast and the announcement of the REIPPP programme bid window 5 and 6 on the horizon, now is the most opportune time for the merger of the CEF subsidiaries. Of course, it is not an easy task and delays may be anticipated but, this move signals a real change towards a meaningful strategy that will not only be beneficial to the DMRE but to potential investors and local development as well.”
The African Energy Chamber welcomes this move and acknowledges that this is yet another step supporting the country’s determination to restart the engines of sustainable growth and the transformation of energy policy and infrastructure.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
The European Commission has granted EU1.9 million (US$2.3 million) to DIGILOGIC, a new project that sees European and African innovation hubs collaborate to enable innovators, startups and SMEs to jointly develop smart logistics solutions in close cooperation with industries and investors.
Prasanth Kumar, director of consultancy at MEST
DIDGILOGIC project which will run for three years aims to boost cooperation and long-term, sustainable partnerships between European and African digital innovation hubs to encourage innovation in the logistics space. It is deployed by a consortium comprising three hubs in Europe – Digital Hub Logistics Dortmund (Germany), VTT (Finland) and Friuli Innovazione (Italy) – and two in Africa – MEST (Ghana) and BongoHive (Zambia). It also includes system change facilitator Endeva (Germany) and SME Prototipi (Nigeria).
These partners will foster the adoption of emerging technologies such as Cloud Computing, Big Data, Augmented and Virtual Reality, Machine Learning, Blockchain, Artificial Intelligence (AI), Smart Devices, Internet of Things (IoT) and Intelligent Transport Systems (ITS) for smart logistics solutions, through the deployment of a dynamic and impactful knowledge transfer process and a targeted implementation programme across Europe and Africa.
DIGILOGIC partners see the horizontally connecting logistics industry at the converging point of interest and priorities for digital innovation for social and business development; a crucial node for Europe’s and Africa’s sustainable prosperity. Applying ICT and other digital technologies to logistics will have a knock-on effect, also benefiting other industries.
Digital innovation hubs are the organisations that DIGILOGIC will use to foster the adoption of emerging technologies for innovative solutions, products and services. DIGILOGIC will act as an ecosystem of ecosystems, mapping the existing players, leveraging on hubs’ competencies and networks to analyse the levers of change which should be addressed to exploit innovation, facilitate collaboration and ultimately create market and uptake opportunities for innovators, SMEs and startups in smart logistics from both continents.
“With a goal of equipping the continent’s most promising tech entrepreneurs with the skills required to launch and scale globally successful software companies in the past decade, MEST is extremely proud to associate in the DIGILOGIC project along with our partners,” said Prasanth Kumar, director of consultancy at MEST.
“MEST is also proud to lead the ecosystem engagement activities and to execute inclusive digital and entrepreneurship capacity building programs for unemployed youth and vulnerable groups.”
DIGILOGIC is working on smart logistics technology radar, including the latest technical developments and industry needs, with a deep dive into specific European and African challenges and available solutions, to guide a mentoring and go-to-market learning programme.
In June 2021, the project will also launch an interactive e-learning platform with on-demand and live business, design thinking and smart logistics ICT modules. The platform will be free of charge and accessible at any time with on-demand and live webinars, documentation, dedicated thematic courses, exercises and assignments to enable learners to follow their learning path as per their needs, motivation and time availability.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
Efforts aimed at advancing enterprise-led economic development and foster technological innovation in sub Saharan- Africa received a boost as Small Foundation, a philanthropic group focused on catalysing income-generating opportunities in the region has invested in a hybrid debt facility with global investment firm Capria Ventures. Capria Ventures, a global investment firm leading, partnering with and funding the largest network of emerging market fund managers collaborating to deliver superior returns and scaled impact. Capria brings venture capital innovation and global best practices to local venture capital, private equity and innovative debt funds, managed by local investment experts.
Conor Brosnan, chief executive officer (CEO) of Small Foundation
The partnership with Small Foundation will fund more such investors, while the collaboration will also focus on developing pragmatic ways to measure the impact of local partners’ investments in Africa.
“Supporting highly leveraged opportunities to drive sustained impact in Sub-Saharan Africa is at the core of Small Foundation’s work. We value mission-aligned partners like Capria who help unlock access to finance for local fund managers across the African continent,” said Conor Brosnan, chief executive officer (CEO) of Small Foundation.
“We are pleased to support Capria’s goal of overcoming the multi-layered challenge of establishing financial intermediaries in complex economic systems across Sub-Saharan Africa. This investment will help enterprises in Sub-Saharan Africa have access to funding, enabling them to create jobs and opportunities across the continent.”
Jack Knellinger, partner at Capria Ventures, said the firm’s relationship with Small Foundation began in 2018, when the foundation helped Capria establish an office in Nairobi.
“Since then, Capria has been constantly on the lookout for strong fund managers in Sub-Saharan Africa. Small Foundation and Capria Ventures have sealed a decade-long pact to further mutual objectives in the African continent, which is to invest and support the growth of emerging fund managers, primarily in Sub-Saharan Africa. The funds will be utilised to scale up operations in Africa as well as to increase the global footprint of our firm,” he said.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
The small east African island of Mauritius is never tired of leading Africa in anything business. Despite receiving little to no attention from Africa-focused tech startup investors, the country is dominating Africa’s Business to Customer (B2C) ecommerce market, according to a recent B2C electronic commerce index released by the United Nations Conference on Trade and Development (UNCTAD). By the report, Mauritius leads the way across Africa, ranking 69th globally with a score of 58 out of 100. South Africa (73rd) is second, followed by Tunisia (77th). Algeria (80th) is in the fourth place, overtaking Ghana (81st), Libya (85th) and Kenya (88th). Nigeria (94th) shows a better capacity than Morocco (95th) and Senegal (99th).
United Nations Conference on Trade and Development(UNCTAD)
“To facilitate more inclusive e-commerce, African countries would benefit from catching up in all policy areas. Compared with the 2019 index, there is no global change in the index value,” the report noted.
Here Is What You Need To Know
The report said in 2019, an estimated 1.5 billion people, or 27 per cent of the world’s population aged 15 years and older, shopped online. This represented a 7 per cent increase over 2018. The proportion of those shopping online is much less in countries at low levels of income, it said.
The report ranked 152 countries across four indexes, namely: 1) account ownership at a financial institution or with a mobile-money-service provider (% of population ages 15+) (Source: World Bank); 2) Individuals using the Internet (% of population) (Source: International Telecommunication Union, ITU); 3) Postal Reliability Index (Source: Universal Postal Union, UPU); 4) Secure Internet servers (per 1 million people) (Source: Netcraft retrieved from World Bank).
The report noted that all of the top ten developing economies in the 2020 index are from Asia, and all are upper middle-income or high-income economies.
The largest increases in index scores for some developing countries were mostly from Algeria, Ghana, Brazil and Lao PDR, which all saw their scores surge by at least five points largely due to significant improvements in postal reliability.
Out of the 20 economies with the lowest value in the 2020 index, 18 are least developed countries (LDCs), with Congo and Syrian Arab Republic being the only non-LDCs in this group.
Globally, landlocked Switzerland with four official languages takes the number one spot on the 2020 UNCTAD B2C e-commerce index. The confederation scores highly across all four dimensions of the index. Switzerland is closely followed by the Netherlands, Denmark, Singapore, United Kingdom, Germany, Finland, Ireland, Norway, China, and Hong Kong.
The two largest B2C e-commerce markets in the world, China and the United States, rank 55th and 12th respectively in the index. Although both countries lead in several absolute measures, they lag in relative comparisons. For instance, the report noted that internet penetration in the United States is lower than in any of the economies in the top 10, while China ranks 87th in the world on this indicator. As for online shopping penetration, the United States ranks 12th while China takes the 33rd slot.
According to the report, Switzerland is number one for the following reasons:
Most of the Swiss population uses the Internet. According to Eurostat, 97 per cent of the population used the Internet in 2019.
Switzerland has high banking coverage, ranking 11th in the world by the density of bank branches. The 2017 Findex survey found that 98 per cent of the population aged 15 and older had an account, placing it 12th in the world.
The country ranks 5th among the countries included in the index in secure server density, a proxy for online shops in the country. According to the Swiss Distance Selling Association (ASVAD), there were at least 250 web shops with online sales in the country in 2019. Linguistic affinity also means that the Swiss can easily shop from online stores available in the German, French and Italian languages.
Switzerland ranks 7th in the world in terms of postal reliability according to the UPU and number one for overall postal development. Statistics from the postal regulator indicate that 99.9 per cent of households have home delivery; 95 per cent of priority packages are delivered within one working day and 96 per cent of other packages within two days; and all of the population is within a twenty minute walk or public transport trip to a postal office. Increased online shopping due to the coronavirus broke records for parcel delivery with the Swiss Post delivering 183 million packages in 2020, up 23 per cent over the previous year.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions. He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance. He is also an award-winning writer
Mauritius Africa B2C ecommerce Mauritius Africa B2C ecommerce Mauritius Africa B2C ecommerce
The United Nations World Food Programme (WFP) has expressed its deepest sympathy and condolences to the family, colleagues and friends of three people killed, today, in an attack on a delegation travelling on a field visit in the east of the Democratic Republic of Congo (DRC).A number of other passengers travelling with the delegation sustained injuries during the attack.
Italian Ambassador to DRC, Luca Attanasio
The three fatalities have been identified as the Italian Ambassador to DRC, Luca Attanasio, an Italian embassy official, and a WFP driver. The delegation was travelling from Goma to visit a WFP school feeding programme in Rutshuru when the incident took place. WFP will work with national authorities to determine the details behind the attack, which occurred on a road that had previously been cleared for travel without security escorts. WFP is in close contact with the Italian authorities through its offices at its Rome headquarters and in the DRC.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
The New York attorney general and the U.S. Securities and Exchange Commission (SEC) have filed charges against a cryptocurrency trading platform that allegedly defrauded thousands of investors out of over a million dollars. The New York Attorney General Letitia James took legal action to shut down the cryptocurrency trading platform owned and operated by Coinseed Inc. The lawsuit, filed in New York County State Supreme Court, alleges that Coinseed runs “an illegally operating cryptocurrency trading platform that defrauded thousands of investors across the nation out of more than $1 million.”
Coinseed Inc. founder and CEO Delgerdalai Davaasambuu
The suit names Coinseed Inc., its founder and CEO Delgerdalai Davaasambuu, and its chief financial officer Sukhbat Lkhagvadorj as defendants. According to the announcement by the New York attorney general’s office, “Attorney General James sues to shut down” the crypto trading platform and “to recoup defrauded funds for thousands of investors.” Noting that “Coinseed willfully ignored numerous securities and commodities registration laws,” the announcement elaborates:
Attorney General James seeks to stop Coinseed and the two individual defendants from further operating as unregistered commodities broker-dealers through their mobile application, as well as return investments of Coinseed’s worthless cryptocurrency, the CSD token. The attorney general alleges “Coinseed and the individual defendants were unlawfully trading cryptocurrencies, like bitcoin, without being a registered broker-dealer in New York, while simultaneously failing to disclose certain fees associated with the trading of virtual currencies on their investor’s behalf.”
The lawsuit further alleges that “the defendants sought to finance their fraudulent company by raising funds in an unregistered securities offering and luring in investors with false claims about their professional experiences and the role of their management team.” The token sale took place approximately between December 2017 and May 2018. Hundreds of investors participated, including those in the U.S.
Similarly, the SEC also announced that it has filed charges against Coinseed Inc. and its CEO for registration violations in connection with the company’s offer and sale of digital asset securities. “The SEC seeks permanent injunctive relief, disgorgement plus prejudgment interest, and civil penalties,” the regulator detailed.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
