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GlaxoSmithKline Nigeria announces changes in its board

GlaxoSmithKline Consumer Nigeria Plc’s board of directors has disclosed the resignation of Bhushan Akshikar, the Managing Director of the Company and Kareem Hamdy, the Finance Director.

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GlaxoSmitheKline Consumer Nigeria Plc

The board of directors of GlaxoSmithKline Consumer Nigeria Plc has disclosed the resignation of Bhushan Akshikar, the Managing Director of the Company and Kareem Hamdy, the Finance Director.

Akshikar’s resignation was as a result of his reassignment to a new leadership role within the GSK Regional Vaccines organisation and completion of his assignment in Nigeria.

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Following the resignations, the company appointed Kunle Oyelana as Managing Director, Mark Pfister as Executive Director of Consumer Healthcare, and Bosco Kirugi as Finance Director. The new appointments will become effective come Saturday, June 1st, 2019.

Below are the brief profiles of the newly appointed directors.

Kunle Oyelana: He s currently the Marketing & Commercial Excellence Director at
GlaxoSmithKline Pharmaceutical Nigeria Plc. Come barely two months time, he will resume as the company’s Managing Director.

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Oyelana brings over twenty years’ experience in the Pharmaceutical industry, particularly in GSK where he has held roles of increasing responsibilities in the company’s areas of operation cutting across Africa and Asia. He has a track record of success in the development and effective implementation of robust strategies, with a keen focus on delivering sustainable growth in diverse markets.

As Commercial Director for the Classic Established Products (CEP) Portfolio for GSK in DC Africa Region, he ensured prioritisation and provided a stimulus for the over 40 markets
in the region to surpass 20% growth of key assets, despite challenging environment.

As Marketing & Commercial Excellence Director for Nigeria and earlier for Kenya, Oyelana led the rapid deployment of Commercial Trade Channel initiatives, effective utilisation of multiple channels and cross-functional collaboration to deliver exceptional customer engagement and sustained business growth.

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Oyelana holds a Bachelor of Pharmacy and an MBA from Obafemi Awolowo University in Nigeria. He is also an alumnus of Strathmore Business School in Kenya and IMD in Switzerland.

Mark Pfister: He is currently the General Manager, GlaxoSmithKline Consumer Healthcare Business, Nigeria & West Africa. On the date stated above, he will resume his new position as the Executive Director in charge of Consumer Healthcare at GlaxoSmithKline Consumer Nigeria Plc.

Pfister has over 21 years of extensive experience across FMCG, Consumer Healthcare and
Pharmaceutical industries in Africa with the last seven years being spent in West Africa with GSK.

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He has served as Enterprise General Manager for GSK Pharma and Consumer in Ghana & Other West Africa (OWA) between 2015 – 2018, as well as Commercial Director for Ghana & OWA in 2015 and as Marketing Director for Consumer Healthcare in Nigeria from 2011 to 2014.

Pfister who holds a first degree in Physical Science and MBA post-graduate degree from universities in South Africa started his career in South Africa as a medical representative for Novartis in 1996.

His core experience is in marketing, beginning his marketing career at Cadbury South Africa before joining GSK Consumer Healthcare South Africa 2008 as Product Manager on the OTC portfolio.

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Over the following years, he has developed extensive experience in both marketing and commercial excellence roles until his appointment in 2018 as the General Manager, GSK Consumer Healthcare for Nigeria and West Africa.

Bosco Kirugi: He is currently the Head, In-Country Shared Service, Finance, at GlaxoSmithKline Pharmaceutical Nigeria Plc. Kirugi joined GSK in 2009 as a Senior Accountant – Receivables in Finance.

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Over the past ten years, he has held positions of increasing responsibilities in the Company including Finance Planning and Reporting Manager for GSK Southern Africa, Commercial Analytics and Insights Manager, and Commercial Finance Manager for GSK Kenya and Planning Manager for Africa and Developing Countries of Asia region.

In 2018, he was the acting Head of Commercial and Finance for Myanmar. Prior to joining GSK, he worked for Maersk Kenya Ltd. for four years.

Kirugi is a holder of Bachelor of Commerce – Finance from Kenyatta University and Certificate in Business Accounting from the Chartered Institute of Management Accountants.

He has received several awards at GSK including a Certificate of Recognition for leadership excellence in driving performance in 2017, General Manager’s Award (Kenya) in 2015 and the Sales Excellence Award (Southern Africa) in 2013.

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Coronavirus

COVID-19 Update in Nigeria

On the 3rd of August 2020, 288 new confirmed cases and 8 deaths were recorded in Nigeria.

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The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record significant increase as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 44,129 confirmed cases.

On the 3rd of August 2020, 288 new confirmed cases and 8 deaths were recorded in Nigeria, having carried out a total daily test of 1,441 samples across the country.

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To date, 44,129 cases have been confirmed, 20,663 cases have been discharged and 896 deaths have been recorded in 36 states and the Federal Capital Territory. A total of 287,532 tests have been carried out as of August 3rd, 2020 compared to 286,091 tests a day earlier.

COVID-19 Case Updates- 3rd August 2020,

  • Total Number of Cases – 44,129
  • Total Number Discharged – 20,663
  • Total Deaths – 896
  • Total Tests Carried out – 287,532

According to the NCDC, the 288 new cases were reported from 15 states- Lagos (88), Kwara (33), Osun (27), FCT (25), Enugu (25), Abia (20), Kaduna (17), Plateau (13), Rivers (13), Delta (10), Gombe (8), Ogun (4), Oyo (3), Katsina (1), Bauchi (1).

Meanwhile, the latest numbers bring Lagos state total confirmed cases to 15,355, followed by Abuja (3,997), Oyo (2,771), Edo (2,311), Rivers (1,842), Kano (1,597), Delta (1,520), Kaduna (1,498), Ogun (1,407), Plateau (1,240), Ondo (1,204), Enugu (846), Ebonyi (808), Kwara (786), Katsina (746), Gombe (620), Borno (613), Abia (602), Osun (580), and Bauchi (561).

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Imo State has recorded 469 cases, Benue (356), Nasarawa and Bayelsa (339), Jigawa (322), Niger (223), Akwa Ibom (221), Adamawa (164), Sokoto (154), Ekiti (152), Anambra (135),  Kebbi (90), Zamfara (77), Yobe (67), Cross River (58), Taraba (54),  while Kogi state has recorded 5 cases only.

READ ALSO: COVID-19: Western diplomats warn of disease explosion, poor handling by government

Lock Down and Curfew

In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.

The movement restriction, which was extended by another two-weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.

On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020. Also, on Monday 27th July 2020, the federal government extended the second phase of eased lockdown by an additional one week.

 

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READ ALSO: Bill Gates says Trump’s WHO funding suspension is dangerous

DateConfirmed caseNew casesTotal deathsNew deathsTotal recoveryActive casesCritical cases
August 3, 202044129288896820663225707
August 2, 202043841304888520308226457
August 1, 202043537386883420287225677
July 31, 202043151462879119565227077
July 30, 202042689481878519270225417
July 29, 202042208404873519004223317
July 28, 202041804624868818764221727
July 27, 202041180648860218203221177
July 26, 202040532555858217374223007
July 25, 2020399774388561116948221737
July 24, 2020395395918451216559221357
July 23, 2020389486048332016061220547
July 22, 202038344543813815815217167
July 21, 202037801576805415677213197
July 20, 2020372255628011215333210917
July 19, 2020366635567891115105207697
July 18, 202036107653778614938203917
July 17, 202035454600772314633200497
July 16, 202034854595769914292197937
July 15, 202034259643760613999195007
July 14, 2020336164637541013792190707
July 13, 202033153595744413671187387
July 12, 2020325585717401613447183717
July 11, 2020319876647241513103181607
July 10, 2020313235757092012795178197
July 9, 202030748499689512546175137
July 8, 2020302494606841512373171927
July 7, 2020297895036691512108170127
July 6, 202029286575654911828168047
July 5, 2020287115446451111665164017
July 4, 202028167603634611462160717
July 3, 2020275644546281211069158677
July 2, 2020271106266161310801156937
July 1, 2020264847906031310152157297
June 30, 202025694561590179746153587
June 29, 20202513356657389402151587
June 28, 20202486749056579007149957
June 27, 20202407777955848625148947
June 26, 20202329868455458253144917
June 25, 20202261459454977822142437
June 24, 20202202064954297613138657
June 23, 20202137145253387338135007
June 22, 20202091967552577109132857
June 21, 202020242436518126879128477
June 20, 202019808661506196718125847
June 19, 202019147667487126581120797
June 18, 20201848074547566307116987
June 17, 202017735587469145967112997
June 16, 202017148490455315623110707
June 15, 20201665857342445349108857
June 14, 202016085403420135220104457
June 13, 20201568250140785101101747
June 12, 20201518162739912489198917
June 11, 2020145546813875449496737
June 10, 20201387340938217435191407
June 9, 2020134646633654420688937
June 8, 2020128013153617404084007
June 7, 20201248626035412395981737
June 6, 2020122333893429382680657
June 5, 20201184432833310369678157
June 4, 2020115163503238353576467
June 3, 2020111663483151332975227
June 2, 20201081924131415323972667
June 1, 20201057841629912312271579
May 31, 20201016230728714300768687
May 30, 2020985555327312285667267
May 29, 202093023872612269763447
May 28, 202089151822595259260647
May 27, 202087333892545250159787
May 26, 2020834427624916238557107
May 25, 202080682292337231155247
May 24, 202078393132265226353607
May 23, 202075262652210217451317
May 22, 2020726124522110200750337
May 21, 2020701633921111190748987
May 20, 202066772842008184046377
May 19, 202064012261921173444757
May 18, 202061752161919164443407
May 17, 202059593881826159441837
May 16, 202056211761765147239737
May 15, 202054452881713132039544
May 14, 202051621931683118038154
May 13, 202049711841646107037374
May 12, 20204787146158695936704
May 11, 202046412421521090235894
May 10, 202043992481421777834794
May 9, 202041512391271174532784
May 8, 202039123861181067931154
May 7, 20203526381108460128184
May 6, 20203145195104553425071
May 5, 2020295014899548123704
May 4, 2020280224594641722912
May 3, 2020255817088240020702
May 2, 20202388220861735119522
May 1, 20202170238691035117512
April 30, 2020193220459731715562
April 29, 2020172819652730713692
April 28, 2020153219545425512322
April 27, 20201337644102559942
April 26, 20201273914152399942
April 25, 20201182873632229252
April 24, 202010951143312088552
April 23, 20209811083231977532
April 22, 2020873912931976482
April 21, 20207821172631975602
April 20, 2020665382311884662
April 19, 2020627862221704362
April 18, 2020541482021663562
April 17, 2020493511841593172
April 16, 2020442351311522772
April 15, 2020407341211282672
April 14, 202037330111992632
April 13, 202034320100912422
April 12, 20203235100852282
April 11, 202031813103702382
April 10, 20203051770582402
April 9, 20202881471512302
April 8, 20202742260442262
April 7, 20202541661442042
April 6, 2020238650351982
April 5, 20202321851331942
April 4, 2020214540251850
April 3, 20202092542251800
April 2, 20201841020201620
April 1, 2020174352091630
March 31, 202013982091280
March 30, 2020131202181210
March 29, 2020111221031070
March 28, 20208919103850
March 27, 2020705103660
March 26, 20206514102620
March 25, 2020517102480
March 24, 2020444102410
March 23, 20204010112370
March 22, 2020308002280
March 21, 20202210001210
March 20, 2020124001110
March 19, 20208000170
March 18, 20208500170
March 17, 20203100030
March 16, 20202000020
March 15, 20202000020
March 14, 20202000020
March 13, 20202000020
March 12, 20202000020
March 11, 20202000020
March 10, 20202000020
March 9, 20202100020
March 8, 20201000010
March 7, 20201000010
March 6, 20201000010
March 5, 20201000010
March 4, 20201000010
March 3, 20201000010
March 2, 20201000010
March 1, 20201000010
February 29, 20201000010
February 28, 20201100010

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Coronavirus

COVID-19: WHO warns there may never be an immediate solution to the virus

WHO urged governments and citizens to focus on known basic steps to contain the pandemic.

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Virtual hackathon: WHO offers $20,000 to curb Coronavirus with African-tech solution, covid-19, coronavirus

The World Health Organization (WHO) has warned that there might not be an immediate solution or cure to the COVID-19 pandemic despite the positive outcomes at the different levels of trials of vaccines for the virus.

The WHO said that despite strong hopes for a vaccine, there might never be a silver bullet for COVID-19, and the road to normality would be long.

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According to the latest data, the coronavirus pandemic has infected over 18.1 million people with more than 690,000 fatalities globally since late January, when the virus was first reported. This is just as some countries that thought they worst was over for them started experiencing a second wave of outbreak.

The Director-General of the WHO, Tedros Adhanom Ghebreyesus, and Mike Ryan, WHO head of emergencies, urged governments and citizens to focus on known basic steps to contain the pandemic such as testing, contact tracing, maintaining physical distance and putting on a mask.

Tedros in a virtual news briefing in Geneva, said, ‘’The message to people and governments is clear, Do it all. He said face masks should become a symbol of solidarity around the world. A number of vaccines are now in phase three clinical trials and we all hope to have a number of effective vaccines that can help prevent people from infection. However, there’s no silver bullet at the moment, and there might never be.’’ 

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Chinese Investigation

The WHO officials revealed that an advanced investigation team that was sent to China where the virus started, are not yet back. The UN health agency sent an epidemiologist and an animal health specialist to China on July 10 to lay the groundwork for a probe aimed at identifying how the virus entered the human species.

Tedros said WHO and Chinese experts had agreed on the terms of reference and a programme of work for a WHO-led international team of scientists and researchers from around the world. They are to study the origins of the virus in the city of Wuhan.

The WHO boss encouraged mothers to continue breastfeeding even if they had COVID-19, as the benefits outweigh the risks associated with infection.

Tedros also said the international hunt for a vaccine has been historic against the backdrop of the coronavirus disease being the biggest global health emergency since the early 20th century.

Tedros said, ‘’There are many vaccines under trial, a couple in the final stage of clinical trials – and there is hope. It does not mean that we will have the vaccine, but at least the speed with which we reached the level we reached now is unprecedented.”

“There are concerns that we may not have a vaccine that may work or its protection could be for just a few months, not more. But until we finish the clinical trials, we will not know.”

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Patricia
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Business

Shoprite Nigeria is worth at least N25 billion

N25.6 billion price tag is only reflective of what Shoprite Nigeria’s operations is worth on paper.

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Shoprite

Africa’s largest retail chain, Shoprite, announced on Monday that it is has decided to divest from its Nigerian retail entity, Retail Supermarkets Nigeria, the owners of Shoprite Supermarket Nigeria.

Going by several media reports and social media accounts, the sale is close to being consummated and a buyer is already in line to purchase the company. Getting information on the purchase consideration for this deal can be difficult especially if there are non-disclosure clauses.

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For example, then Zinnox purchased Konga from Naspers (another South African firm) and AB Kinnevik two years ago, though the purchase consideration was not disclosed.  However, we do not know what Shoprite Nigeria is worth on paper.

What is it worth on paper? Going by the company’s most recent annual report published in June 2019, Shoprite values its equity in its Nigerian subsidiary, Retail Supermarkets Nigeria Ltd at R 1.164 billion (1.1 billion rands). This translates to about N25.6 billion using the official exchange rate. This is also an equivalent of $67.7 million. The exchange rates are modest and will certainly be higher if the transaction was to be at this valuation.

However, the N25.6 billion price tag is only reflective of what Shoprite Nigeria’s operations is worth on paper, what accountant’s callbook value. It could be more or even less depending on how the negotiation goes.

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Shoprite Nigeria business is also its second-largest, based on book value and next only to Angola.

How will it be funded? The potential investors will likely fund this transaction via debt or equity or a combination of both. Deals like this also take time to be completed even if an agreement is announced and will also be approved by the Securities and Exchange Commission of Nigeria and possibly South Africa.

We will keep you updated as we get more information.

Patricia
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