In recognition of World Environment Day 2024 under the theme; ‘land restoration, desertification, and drought resilience’, AstraZeneca has highlighted its commitment to tackling climate change and biodiversity loss—two of the most pressing challenges of our time.

Aligned with the UN Environment Programme’s call to action for #GenerationRestoration focused on three priorities: reviving lands, ending desertification, and securing water, AstraZeneca through the AZ Forest reforestation programme and comprehensive water stewardship initiatives is enabling the interconnectedness of environmental health and human health, fostering resilience against climate change, improving air and water quality, and supporting biodiversity.

By 2030, AstraZeneca aims to plant and maintain 200 million trees across six continents through AZ Forest. This global project, which focuses on agroforestry, regraded agricultural land, and natural forest restoration, collaborates with local people and landscape restoration specialists, and is made to optimize the co-benefits of reforestation, which include lowering the risk of natural disasters, promoting sustainable livelihoods, strengthening climate resilience, and safeguarding biodiversity.

Deepak Arora, Country President, African Cluster at AstraZeneca, said, “At AstraZeneca, we recognise that the well-being of our planet is fundamentally connected to the health of its inhabitants.

“Our dedication to environmental sustainability in Africa, exemplified by projects like AZ Forest and our comprehensive water stewardship efforts, goes beyond tree planting and water conservation. It’s about nurturing resilience and enhancing the quality of life of the communities we serve.

“This World Environment Day, we are proud to stand alongside local partners and communities to protect our environment and ensure a healthier, more sustainable future for everyone.”

In Ghana’s Atebubu and Sene West districts, AstraZeneca is partnering with the Circular Bioeconomy Alliance and New Generation Plantation Technical Assistance to restore over 8,000 hectares of degraded land. By the end of 2023, 23 communities were engaged, and over 3.8 million trees were planted. This community-led project aims to plant 4.7 million trees and includes environmental DNA (eDNA) analysis to monitor freshwater biodiversity impacts.

Towards protecting the water basins, AstraZeneca is committed to enhancing water quality, promoting efficient use, and safeguarding ecosystems. We are working with local communities to identify shared challenges such as water scarcity, pollution, and habitat loss.

Through these collective efforts, we aim to enhance water security and resilience against climate-related impacts. So far, we have implemented rainwater harvesting systems and constructed wetlands to improve water quality and availability for local communities.

These efforts are part of our broader commitment as members of the Alliance for Water Stewardship (AWS), where we actively participate in advancing good water stewardship practices across our sites.

We are working closely with our industry peers to craft a pioneering Roadmap to Nature Positive tailored specifically for the pharmaceutical sector. This roadmap is designed to expedite business involvement and initiatives aimed at achieving the overarching societal objective of nature positivity. By providing sector-specific guidance, our collective efforts seek to drive tangible progress and ensure a sustainable future for both the pharmaceutical industry and the environment.

AstraZeneca’s initiatives in global reforestation and water stewardship reflect our commitment to environmental sustainability. Through these collaborative efforts, we are actively contributing to the preservation of our planet. By nurturing partnerships and leveraging innovative solutions, we are forging a path towards a greener, healthier future for generations to come. Let us continue to unite in our mission to restore and safeguard our environment, ensuring a brighter tomorrow for all.

MultiChoice and French media giant Groupe Canal+ have released a joint circular detailing plans and dates for the proposed buyout of the DStv operator at R125 per share.

The circular covers what happens to shareholders who choose not to sell, reiterates Canal+’s plan to list on the JSE, and provides some idea of how the companies might handle foreign ownership restrictions on broadcasters.

Canal+ has steadily bought up MultiChoice stock on the open market since October 2020 and hit a 35% threshold at the beginning of the year, triggering a mandatory buyout offer.

After some wrangling from MultiChoice and a reprimand from the Takeover Regulation Panel, Canal+ offered R125 per share, valuing the company at over R55 billion.

The buyout will cost Canal+ over R30 billion in cash, and the company has continued buying MultiChoice shares while its offer is being considered.

The Takeover Regulation Panel last reported in May that Canal+’s shareholding stood at 45.2%.

Tuesday’s circular shows Canal+ has not bought any additional shares since 10 May 2024. Its average buy price for the past six months has been just over R100 per share.

The circular states that the deal is still subject to several regulatory approvals, including from the Financial Surveillance department, the Competition Tribunal, the JSE, the Takeover Regulation Panel, and other government authorities.

One of the other government authorities is the Independent Communications Authority of South Africa (Icasa), the custodian of the Electronic Communications Act (ECA).

Under the ECA, a foreigner may not, whether directly or indirectly:

• Exercise control over a commercial broadcasting licensee; or
• Have a financial interest or an interest either in voting shares or paid-up capital in a commercial broadcasting licensee exceeding 20%

Exercise control over a commercial broadcasting licensee; or
Have a financial interest or an interest either in voting shares or paid-up capital in a commercial broadcasting licensee exceeding 20%.
Canal+ and MultiChoice have stated that they are exploring several options to comply with these requirements following the buyout.

These include a corporate reorganisation, participation by one or more local BBBEE partners, and mechanisms to limit the voting rights of foreigners.

The latter includes a potential limit on MultiChoice’s voting rights over the licensed entities in the MultiChoice Group.

In March, Bloomberg reported that billionaire Patrice Motsepe was in talks with Canal+ to join its bid for MultiChoice.

Regarding shareholders who do not accept the offer, the companies said they will remain invested provided Canal+’s shareholding remains below 90%.

Canal+ reserves the right to invoke Companies Act provisions allowing it to buy out the last remaining shareholders and delist the company should its ownership exceed 90%.

They also committed to engage with the JSE in the event that MultiChoice’s free float dips below the stock exchange’s liquidity requirements.

“MultiChoice shareholders are reminded that Vivendi SE, the parent company of Canal+, is currently undertaking a feasibility study for the proposed split of the company into several separately listed entities,” the circular stated.

“Canal+ intends that, should its planned European listing proceed, there will be an opportunity for South African investors to become shareholders of the combined entity as part of a secondary inward listing on the JSE.”

The companies explained that if Canal+’s listing occurs before its offer becomes unconditional, it will consider revising it to give MultiChoice shareholders an opportunity to have exposure to the combined group.

MultiChoice and Canal+ said the offer opens at 09:00 on 5 June 2024.

They aim for it to become wholly unconditional by no later than Tuesday, 8 April 2025.

The last day to trade to participate in the offer is 22 April 2025, and it closes at noon on Friday, 25 April 2025.

By Diana Tenebe, Chief Operating Officer, FoodStuff Store

Lagos, Nigeria, is a vibrant city with a diverse restaurant scene reflecting its dynamic energy. From trendy cafes to bustling street food stalls, Lagos offers a culinary adventure featuring over 3,000 restaurants showcasing a delicious fusion of Nigerian cuisine and international flavors. Victoria Island, renowned for its luxury hotels and fine-dining establishments, boasts sophisticated ambiances and world-class cuisine, serving everything from modern Nigerian fare to delectable international delights.

However, despite promises of exceptional dining experiences, some Lagos restaurants and hotels have faced criticism for charging premium prices for meals that fall short in quality. Customer reviews frequently cite the use of low-quality ingredients, leading to dissatisfaction with the value proposition.

Inconsistent food quality remains a persistent challenge for Lagos’s dining scene. A potential solution lies in partnering with food tech companies. These companies can ensure a consistent supply of high-quality produce, allowing restaurants and hotels to elevate the overall dining experience in Lagos. This not only benefits diners but also fosters a more vibrant culinary scene.

Food tech companies create a more efficient and transparent food system by connecting restaurants directly with local farmers. This guarantees access to fresh produce, supports sustainable practices, and empowers restaurants to create exceptional culinary experiences showcasing the best of Nigerian cuisine alongside international flavors. By leveraging food tech companies, farmers can gain access to a wider market and fairer prices, while restaurants and hotels receive fresh, high-quality ingredients consistently. Ultimately, this translates to better quality meals and satisfied customers.

A food tech company like Foodstuff Store provides the right technology platform to streamline the process, making it easier for restaurants and hotels to order and receive the ingredients they need. This ensures efficiency and reduces food waste. Foodstuff Store’s partnership with local farmers could be a positive step forward for restaurants and hotels in Lagos. Their innovative approach has the potential to create a more sustainable and enjoyable food system.

By embracing technology and forging strong partnerships with food tech companies, Lagos’s restaurants and hotels can consistently deliver the exceptional dining experiences the city promises. This will solidify Lagos’s reputation as a must-visit destination for food enthusiasts around the world.