As the confirmed cases of the Coronavirus hit over a million globally, tech startup, NloTEK, has been selected to develop solutions that could aid in the fight against the pandemic.
The hardware and Internet of Things (IoT) startup emerged as the winner of COVID-19 challenge organised by Cairo Angels.
Cairo Angels, an Egyptian investor group created the “We’ve Got Your Back” COVID-19 challenge to help the elderly and vulnerable people living alone. In specific terms, the challenge was intended to help this set of people to complete their shopping and other errands, therefore lowering their risk of infection from the novel Coronavirus.
Nairametrics had reported that the outbreak of the virus led to countries ordering lockdowns and restricting movements.
Stocking foodstuffs amidst the lockdown has resulted in chaos as sone individuals, most especially the elders and vulnerable, are unable to shop for groceries.
The initiative by Cairo Angels has been able to close this gap and douse the tension through the solutions of NloTEK. The startup, which combines hardware and software and applies them in the Internet of Things (IoT), pitched to secure $6,000.
NloTEK was among the four finalists that were selected to pitch their solutions. The other three finalists are:
- Kofoof: A business software development startup.
- Markazzy: A platform that ensures easy and convenient way for homeowners to find, choose and use home improvement products.
- Tactful AI: An AI-powered and data-centric customer engagement technology.
They all pitched to develop a secure and updated database for volunteers, whose identity can be verified through social media accounts and ID cards, with the inclusion of reviews.
However, NloTEK emerged as Cairo Angels’ favourite and will receive funding from the investors that have a knack for supporting startups in early-stage and high growth businesses across the Middle East and North Africa.
NloTEK will receive mentorship from Cairo Angels, while Mayday and Microsoft will also offer undisclosed support.
Covid-19 Update in Nigeria
On the 24th of May 2020, 313 new confirmed cases and 5 deaths were recorded in Nigeria bringing the total confirmed cases recorded in the country to 7,839.
The spread of novel Corona Virus Disease (COVID-19) in Nigeria has continued to rise rapidly as the latest statistics provided by the Nigeria Centre for Disease Control revealed Nigeria now has 7,839 confirmed cases.
On the 24th of May 2020, 313 new confirmed cases and 5 deaths were recorded in Nigeria.
To date, 7839 cases have been confirmed, 2263 cases have been discharged and 226 deaths have been recorded in 34 states and the Federal Capital Territory having carried out 44,458 tests.
The 313 new cases were reported from 17 states- Lagos (148), FCT (36), Rivers (27), Edo (19), Kano (13), Ogun (12), Ebonyi (11), Nasarawa (8), Delta (8), Oyo (7), Plateau (6), Kaduna (5), Kwara (4), Akwa Ibom (3), Bayelsa (3), Niger (2), Anambra (1).
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.
The latest numbers bring Lagos state total confirmed cases to 3505, followed by Kano (896), Abuja at 505, Katsina (308), Borno (250), Jigawa (241), Oyo (240), Bauchi (232), Ogun (231), Edo (191), Kaduna (189), Gombe (145), Sokoto and Rivers (116), Plateau (83).
Kwara State has recorded 79 cases, Yobe (47), Nasarawa (46), Osun (42), Delta (39), Ebonyi (33), Kebbi (32), Niger (28), Adamawa (27), Akwa Ibom (24), Ondo (23), Ekiti (20), Taraba and Enugu (18), Bayelsa (11), Anambra (9), Imo and Abia (7), while Benue state has recorded 5 cases.
|Date||Confirmed case||New cases||Total deaths||New deaths||Total recovery||Active cases||Critical cases|
|May 24, 2020||7839||313||226||5||2263||5360||7|
|May 23, 2020||7526||265||221||0||2174||5131||7|
|May 22, 2020||7261||245||221||10||2007||5033||7|
|May 21, 2020||7016||339||211||11||1907||4898||7|
|May 20, 2020||6677||284||200||8||1840||4637||7|
|May 19, 2020||6401||226||192||1||1734||4475||7|
|May 18, 2020||6175||216||191||9||1644||4340||7|
|May 17, 2020||5959||388||182||6||1594||4183||7|
|May 16, 2020||5621||176||176||5||1472||3973||7|
|May 15, 2020||5445||288||171||3||1320||3954||4|
|May 14, 2020||5162||193||168||3||1180||3815||4|
|May 13, 2020||4971||184||164||6||1070||3737||4|
|May 12, 2020||4787||146||158||6||959||3670||4|
|May 11, 2020||4641||242||152||10||902||3589||4|
|May 10, 2020||4399||248||142||17||778||3479||4|
|May 9, 2020||4151||239||127||11||745||3278||4|
|May 8, 2020||3912||386||118||10||679||3115||4|
|May 7, 2020||3526||381||108||4||601||2818||4|
|May 6, 2020||3145||195||104||5||534||2507||1|
|May 5, 2020||2950||148||99||5||481||2370||4|
|May 4, 2020||2802||245||94||6||417||2291||2|
|May 3, 2020||2558||170||88||2||400||2070||2|
|May 2, 2020||2388||220||86||17||351||1952||2|
|May 1, 2020||2170||238||69||10||351||1751||2|
|April 30, 2020||1932||204||59||7||317||1556||2|
|April 29, 2020||1728||196||52||7||307||1369||2|
|April 28, 2020||1532||195||45||4||255||1232||2|
|April 27, 2020||1337||64||41||0||255||994||2|
|April 26, 2020||1273||91||41||5||239||994||2|
|April 25, 2020||1182||87||36||3||222||925||2|
|April 24, 2020||1095||114||33||1||208||855||2|
|April 23, 2020||981||108||32||3||197||753||2|
|April 22, 2020||873||91||29||3||197||648||2|
|April 21, 2020||782||117||26||3||197||560||2|
|April 20, 2020||665||38||23||1||188||466||2|
|April 19, 2020||627||86||22||2||170||436||2|
|April 18, 2020||541||48||20||2||166||356||2|
|April 17, 2020||493||51||18||4||159||317||2|
|April 16, 2020||442||35||13||1||152||277||2|
|April 15, 2020||407||34||12||1||128||267||2|
|April 14, 2020||373||30||11||1||99||263||2|
|April 13, 2020||343||20||10||0||91||242||2|
|April 12, 2020||323||5||10||0||85||228||2|
|April 11, 2020||318||13||10||3||70||238||2|
|April 10, 2020||305||17||7||0||58||240||2|
|April 9, 2020||288||14||7||1||51||230||2|
|April 8, 2020||274||22||6||0||44||226||2|
|April 7, 2020||254||16||6||1||44||204||2|
|April 6, 2020||238||6||5||0||35||198||2|
|April 5, 2020||232||18||5||1||33||194||2|
|April 4, 2020||214||5||4||0||25||185||0|
|April 3, 2020||209||25||4||2||25||180||0|
|April 2, 2020||184||10||2||0||20||162||0|
|April 1, 2020||174||35||2||0||9||163||0|
|March 31, 2020||139||8||2||0||9||128||0|
|March 30, 2020||131||20||2||1||8||121||0|
|March 29, 2020||111||22||1||0||3||107||0|
|March 28, 2020||89||19||1||0||3||85||0|
|March 27, 2020||70||5||1||0||3||66||0|
|March 26, 2020||65||14||1||0||2||62||0|
|March 25, 2020||51||7||1||0||2||48||0|
|March 24, 2020||44||4||1||0||2||41||0|
|March 23, 2020||40||10||1||1||2||37||0|
|March 22, 2020||30||8||0||0||2||28||0|
|March 21, 2020||22||10||0||0||1||21||0|
|March 20, 2020||12||4||0||0||1||11||0|
|March 19, 2020||8||0||0||0||1||7||0|
|March 18, 2020||8||5||0||0||1||7||0|
|March 17, 2020||3||1||0||0||0||3||0|
|March 16, 2020||2||0||0||0||0||2||0|
|March 15, 2020||2||0||0||0||0||2||0|
|March 14, 2020||2||0||0||0||0||2||0|
|March 13, 2020||2||0||0||0||0||2||0|
|March 12, 2020||2||0||0||0||0||2||0|
|March 11, 2020||2||0||0||0||0||2||0|
|March 10, 2020||2||0||0||0||0||2||0|
|March 9, 2020||2||1||0||0||0||2||0|
|March 8, 2020||1||0||0||0||0||1||0|
|March 7, 2020||1||0||0||0||0||1||0|
|March 6, 2020||1||0||0||0||0||1||0|
|March 5, 2020||1||0||0||0||0||1||0|
|March 4, 2020||1||0||0||0||0||1||0|
|March 3, 2020||1||0||0||0||0||1||0|
|March 2, 2020||1||0||0||0||0||1||0|
|March 1, 2020||1||0||0||0||0||1||0|
|February 29, 2020||1||0||0||0||0||1||0|
|February 28, 2020||1||1||0||0||0||1||0|
British High Commission releases flight schedule for final evacuation
The commission also made provisions for nationals who are cash strapped.
The British High Commission has released flight schedules to evacuate its nationals from Nigeria within a fortnight.
In a video made available to Nairametrics, the British High Commissioner to Nigeria, Catriona Laing, stressed that they would be the final evacuation flights from Nigeria back to the United Kingdom, and urged nationals to take advantage of it.
Speaking about eligibility, Laing stated:
“These flights are aimed at British nationals and dual nationals who are normally resident in the UK, and their immediate dependents. We’ll be prioritising people who are already on our waiting list.
“After that, we will allocate seats on a first come first served basis, and those of you who are non-British nationals but have indefinite leave to remain in the UK could also be eligible. We will pick up any foreign nationals if we have seats available.”
There will be flights from Lagos to London on May 29, and June 1, 2020, while the flights from Abuja to London will only run on June 6, 2020.
There are also arrangements to pick up stranded nationals in Port Harcourt, and connect them to Abuja where they will board the flight home.
According to Laing, the Commission will be using Virgin Airlines for its Lagos flights and Titan Airways to convey nationals from Abuja.
READ ALSO: Time for Nigeria to forget crude oil
What it will cost
Britons taking the flight from Lagos will be expected to pay £445 for their tickets, while passengers from Abuja will pay £600.
Laing added that the commission has also made provisions for nationals who are cash strapped.
“If you are struggling and you have exhausted all other means, there are loans available,” she said.
Bookings are to be made at the ‘return to the UK’ part of their travel advise page, and details of the loans can also be found there.
MTN Nigeria Communications Plc announces N100 billion commercial paper issuance
MTN Nigeria notified the public of it proposed Commercial Paper Issuance under its N100 billion Commercial Paper (“CP”) Issuance Programme.
MTN Nigeria Communications Plc has notified the public of it’s proposed Commercial Paper Issuance (series 1 & 2 commercial paper issuance N50billion each) under its N100 billion Commercial Paper (“CP”) Issuance Programme.
The proceeds from the CP issuance will be used to support MTN Nigeria’s working capital and general corporate purposes. This issuance under the CP Programme represents MTN Nigeria’s debut in the domestic debt capital market.
Highlights of the report are as follows:
Arranger: Chapel Hill Denham Advisory Limited
Minimum subscription: N5 million
Issuance size: N100 billion (series 1 & 2 commercial paper issuance N50billion each)
Tax consideration: Free and clear of withholding Taxes
MTNN is the leading telecommunications operator in the largest telecoms market in Africa. The company is the largest mobile operator and undisputed market leader in Nigeria, as measured by total mobile subscribers (c. 70 million), active data users (c. 26.8 million), revenue (almost 50% of industry), and profit pool.
MTNN is well-positioned for the long term, with its unmatched investments in its infrastructure – most expansive 2G, 3G, and 4G network, largest fibre network (c. 29,000km) that spans across Nigeria, largest physical and digital distribution platform, and wide range of spectrum holdings – and the exciting market opportunity Nigeria brings.
Nigeria offers an attractive telco market proposition as Africa’s largest economy and most populous country. Mobile voice and data subscription will continue to be a major part of consumer spending, largely driven by increased adoption by the young population.
It is important to note that in the recent COVID-19 environment, MTNN has continued to sustainably add new subscribers, and customer voice and data usage remains resilient.
MTNN is rated Aa+ by Agusto & Co. which reflects the company’s history of strong financial performance – record revenue in excess of N1 trillion (largest revs by a listed corporate), stable and healthy operating profit metrics (+53% EBITDA margin), comfortably low leverage (0.4x Net Debt/EBITDA, 10.8x interest coverage) that is predominantly local currency, and strong free cash flow.