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Fidson reports over 500% increase in profit for 2019

Fidson grew its profit for the year by 518% from a loss of N97.45 million in 2018 to N407.19 million in 2019.

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Fidson Healthcare Plc held its 21st Annual General Meeting last weekend at the Conference Centre, Fidson Towers in Obanikoro, Lagos. The AGM was held by proxy, to comply with the Federal government’s directives on social distancing and rules limiting social gathering to a maximum of 20 people. Shareholders approved a dividend of N0.15 per share while commending the company for ensuring that investors continue to get good value on their investments.

Fidson grew its profit for the year by 518% from a loss of N97.45 million in 2018 to N407.19 million in 2019. This is despite a decrease in Revenue of 13%, from N16.23 billion in FY2018 to N14.06 billion in FY2019, which is largely as a result of the impact of the rescheduled national elections on its business operations in the first half of 2019, as well as the ensuing consumer passivity.

According to the Chairman of the Board, Mr Segun Adebanji, the company adopted several cost optimization initiatives that ultimately led to the profitability increase. Gross margin improved from 39% in FY2018 to 42% in FY 2019, administrative and sales expenses reduced by 13% while finance cost dropped by over 10%. He reported that proceeds from the company’s Right Issue in July 2019 were used to repay expensive loans, finance capital expenditure and working capital needs.

Fidson continues to leverage its WHO-compliant factory, introducing 10 new products in 2019, and went into an agreement with GlaxoSmithKline Plc to contract manufacture for them from 2021 onwards. This will ultimately drive an increase in output and efficiency, and bring variable costs of production down.

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Looking into the future, the Board is committed to implementing strategic initiatives like international collaboration and Research & Development to drive sustainable growth as well as cement its leadership position in the industry.

The Covid-19 pandemic has provided opportunities to explore the development of new products and with the increasing support of the government for the healthcare sector, the company anticipates that it would successfully mitigate some of the shocks caused by the pandemic and emerge successful in the months ahead.

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NM Partners represent articles published in paid partnerships with corporate organisations. They include press releases, targeted content, and other forms of corporate communications on behalf of our Paid Partners.

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Wealth.ng launches Ola – A personal wealth advisor on WhatsApp

Artificial Intelligence-enabled chatbot solutions like Ola make it easy to interact with users by providing virtual assistance 24-7.

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Wealth.ng has announced the launch of a personal Wealth Advisor – Ola an AI-powered conversational investments chatbot developed to optimize Investment service delivery via WhatsApp, the preferred social and communication network. Ola aims to make it easy for Wealth.ng customers to Invest and manage their portfolio easily via social media.

WhatsApp allows its users to communicate using less data while protecting shared data (conversations, media content, banking details, etc). Ola also processes authenticated transactions via one-time-passwords (OTPs) sent to users’ registered phone number or email.

Users can chat with Ola through the dedicated WhatsApp Chatbot number +234 904 444 8652 or via the link – https://bit.ly/ChatwithOla. You can perform pretty much all the Investment Services such as: Creating a Wealth.ng account, link your Wealth.ng account, browse investment products, Fund Cash Balance, Invest, View your Portfolio, View Market Summary, Check Order Status and ask Ola a question.

Artificial Intelligence-enabled chatbot solutions like Ola make it easy to interact with users by providing virtual assistance 24-7, just as a human would.

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Here is Ola’s Profile

  • I am Ola – a Chatbot on WhatsApp By Wealth.ng
  • My name Ola means “Wealth”
  • I am an investment strategist.
  • I am easy to chat with; I am able to understand English, as well as other local languages, including pidgin and French. If you speak a bit of Yoruba, Hausa or Igbo to me, I’ll understand that too!
  • I’m your 24/7 chat buddy. You can talk to me any day and at any time.
  • I never take breaks or vacations. My goal is to make investing easier for you.
  • I can tell you all you need to know about Investment products and services available on Wealth.ng
  • I’ll help you create a Wealth.ng account, link your Wealth.ng account, browse investment products and view Market Summaries and you can ask me any question.
  • For security purposes, I verify transactions via an OTP (one-time password) sent to your registered phone number and email.
  • I am always professional, polite and friendly in my responses to you.
  • What’s more, I’m a fast learner and I gain new skills from past interactions (much faster than your average customer service support)
  • Chat with me (Ola) on WhatsApp Now….

Speaking on the initiative, Wealth.ng Digital Marketing Manager, Ifeoluwa Apampa mentioned that the decision to deploy the service is part of Wealth.ng’s strategy to deliver optimum  customer experience through technology while also increasing the investment participation of customers by providing a scalable and efficient service for managing their investments and portfolios.

She further mentioned that African tech users like to be guided, to know what it is all about and how it can benefit them. They also want quick answers to their questions and Ola is well positioned to render assistance to users by helping them understand and navigate Wealth.ng and manage their investment portfolios smoothly.

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Ola will augment Wealth.ng’s existing customer touch points and be available to receive multiple queries and promptly respond with relevant investment information to various customers at the same time. However, customers cannot call the number since it is only reachable through WhatsApp chat.

Wealth.ng offers premium investment products such as Treasury Bills, Stocks, Bonds, Eurobonds, Agriculture and Wealth Cash and you can get all these done with your buddy Ola.

  • Have an account on Wealth.ng and want to view your portfolio? Link your Account with Ola
  • Don’t have a Wealth.ng account yet? Let Ola help you get started.
  • Already Investing and want to do more? Ola is just a chat away.

Ola promises to deliver a consistently great experience every time you chat with her, so if you have any questions, need investment advice or guidance, she’s got you covered!

Chat with Ola on WhatsApp Now

Here’s how to chat with Ola

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All you need to do is:

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  • Save the number +234 904 444 8652 to your phone contacts or use the link – https://bit.ly/ChatwithOla
  • Search for Ola Chabot on your WhatsApp
  • Say hi to Ola
  • Accept Terms and Conditions
  • Get chatting with Ola and invest on the go

It is our desire to ensure that we put Ola everywhere, but for now Ola has been rolled out to customers on WhatsApp and will soon be available on other platforms such as Facebook Messenger and Telegram to guide customers through the wealth building journey.

Chat with Ola on WhatsApp Now

 

About Wealth.ng

Based in Lagos, Wealth.ng is your personal finance platform that gives you access to diverse investment options. It is a user-friendly Self-service platform set up to equip the everyday person with simple tools and advise needed to create wealth while meeting your short and long-term finance needs.

Launched over a year ago, Wealth.ng has over 68,000 customers to its belt, 3 partner Integrations and processed over N4 Billion Investment Transactions.

To learn more about Wealth.ng, please visit www.wealth.ng

Ola is powered by WealthTech, an entity registered with the Securities and Exchange Commission as an Investment Advisor. All investments on Wealth.ng are carried out by Sankore Securities Limited, a Fund/Portfolio Manager as registered with the Securities and Exchange Commission.

Ola is the 3rd AI (Artificial Intelligence) chatbot from the stables of WealthTech Limited (A Subsidiary of Sankore Securities), besides Diamond Bank ADA – launched in March, 2018 and FCMB Temi launched in 2019.

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Trading club in Nigeria for US stock investors

The clubs’ mission is to simplify complex financial information and decisions so that individuals have the confidence to trade & invest better.

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Trading club in Nigeria for US stock investors

30%Club, a trading club created for modern-day investors, wants every Millennial and Gen Z to invest in US Stocks. The club aims to be the go-to platform for educational and advisory resources for stocks and crypto investing. By breaking the knowledge barrier, we serve as a learning bridge for anyone looking to trade these markets. The US Stock market is the largest in the world and so every shrewd investor wants a slice of it. Now anyone can invest on any of the three regulated US Investment apps in Nigeria.

Thanks to the recent wave of fintech startups innovating brokerage services, tech-savvy millennials now have seamless and affordable access to the US stock markets. The timely introduction of Fractional Shares means folks can invest just $10 in their favourite companies effortlessly, from their smartphones. This new breed of enthusiastic investors will be naturally overwhelmed with the technical jargon and confusing terms, so there is a need for an educational bridge.

READ: FG to inject over N198 billion on capital projects in power sector in 2021

The clubs’ mission is to simplify complex financial information and decisions so that individuals have the confidence to trade & invest better.

Business Data Analyst Femi Adeoye notes that according to the data, amateur, retail investors have flooded into the US stock market in droves this year, with popular apps in the States reporting huge spikes in younger users.

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Mirroring the trend in America, globally first-time investors in Asia, Latin America and Nigeria are trading popular stocks like Amazon & Apple, as well as Tesla, Zoom and high-growth companies.

READ: Football: Manchester United net debt rises by 133% to £474.1million

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Users who sign-up with 30%Club have access to a dashboard with educational content, real-time market data, charting tools, instructional videos and podcasts. The platform is free for all to sign up while premium members are charged a fee for access to market intelligence from a few pros like Jim Cramer.

The club is non-custodial which means members handle & manage their capital personally. 30%Club does not invest nor trade on behalf of the public.

READ: Crypto owners robbed of 1,150,000 XRP

Trading is the new cool.

Seyi Atere-Roberts, the clubs’ founder, believes there will be a gradual explosion in active trading among young folks, even though this may begin as a side-hobby or hustle, with a potential for appetite to significantly increase as a regular monthly income. DIY Investing will become the norm, especially with the rising number of investment schemes failing to deliver their promised returns.

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We aim to guide the new generation of investors by providing a simplified learning experience. We implore our members to allocate most of their capital to long-term investing in solid Stocks, ETFs & Bitcoin while the rest to trading trends and momentum. The power of compounding ensures their long term portfolio grows exponentially while their trading portfolio profits from short-term trends bringing in additional monthly income. Investing is a lifelong lifestyle, trading is the new cool and investing in these fascinating assets is going to be as common as TikTok within the next decade.

You can learn the basics in an hour on our simplified Podcast and holla on Twitter or Facebook

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What every Nigerian business owner ought to know about bouncing back from 2020

While there is indeed access to several business tools on the internet, none have quite the contextual precision of SME Shop.

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It’s been said a thousand times already, 2020 was bad. But for those in business with a go-getter spirit, the question isn’t whether 2020 was bad or not, the question is how can 2021 be better? The answer to that question is SME Shop. If 2020 proved anything, it’s that having a great product, funding, and a group of people willing to buy what you’re selling, simply isn’t enough. You need to have knowledge, the kind of knowledge that defies pandemics, protests, and economic upsets. The kind of knowledge that SME Shop provides to MSMEs for free. SME Shop is the product of a collaboration between elite advertising agency TBWA Concept and Ford Foundation, which enlists industry experts in the delivery of lectures spanning marketing, distribution, best COVID-19 business practices, and so much more. It’s essentially a free, virtual masters in business. But how is SME Shop any different from the plethora of business gurus and hacks that exist online?

TBWA Concept assures that while there is indeed access to several business tools on the internet, none have quite the contextual precision of SME Shop. SME Shop’s lectures are delivered by the very people you look up to in business. It consists of leaders in fashion, tech, advertising, agric, and almost every industry you can conceive of. More so, because these are doers and not merely speakers of the word, you are afforded a learning curve that takes into consideration the many unique aspects of doing business in Nigeria, things like how to overcome the bureaucracy in accessing funds and grants. “Funding is important, but knowledge is better” says a TBWA Concept rep, the knowledge of how to access and apply those funds. And perhaps yours is an unconventional business, one made possible by the emergence of new media. Tik Tok, Influencer marketing, comedy, and content creation are quickly becoming viable businesses to pursue in Nigeria, but TBWA Concept insists that “Just because it’s a new business, doesn’t mean it won’t face the same old problems.” So it isn’t merely enough to know your craft, you must know the best business model to sell it.

TBWA Concept puts forward the example of the prosperous bubble that many businessmen in Nnewi lived in whilst the rest of Nigeria roiled in recession. It indicates that almost no market forces are beyond your control. With knowledge, all things are possible, so if you’re ready to innovate your way to business growth, this is it.

Beyond the virtual lectures, SME Shop provides consultations for MSME’s. You can register for the free courses here. Join the MSME revolution on our social media platforms and help your business bounce back from the upsets of 2020.

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