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(Opinion) Simple Ways of Ensuring Business Continuity During COVID-19

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By Segun McMedal,

The first quarter of the year 2020 was very unusual– it was the period the world stood still; one we can never forget no thanks to COVID-19 –described as a pandemic threatening the survival of humanity. The impact of the virus is unprecedented in world history. But governments and partners are working assiduously together to stop its transmission and keep children and their families safe through isolation and social distancing.

 

And to ensure containment, development partners and governments directed that all social and economic activities should be locked downin all the affected nation-states including Nigeria.

 

It is pointless to say that we are living in a very challenging time, socially, professionally and economically. The current restrictions mean that the business environment is very toughaltering business models for almost all the industry and professions. While some industries (tourism, aviation, and financial services) are on a life support presently, it is a boom period for others (telecoms, healthcare and medical supply, retail and food processing).

 

So, how best should businesses respond to survive the onslaught? The best approach is to adapt and make the best use of the situation. The other option isto do nothing and perish. But you don’t want to experience that, do you? This is the time to task your brains to dosome lateral thinking to generate new ideas which are the stuff of change and progress in every field from science to art, from politics to personal happiness.

 

There are three kinds of people as are companies: those who make things happen; those who watch things happen; and those who wonder what happened. This challenging time opens a window of opportunity for people who are ready to make things happen to remain in business.

 

This is one of the best times for businesses to step up to the plate and help their customers in navigating this crisis period. This is the time to deepen your business’s positioning in the minds of stakeholders to be relevant during and post COVID-19 crisis. Below are simple ways of ensuring business continuity in this special period:

 

  1. Work Remotely(part of putting people’ssafety first) –This style allowsworkers to execute their duties outside of the traditional office environment. Instead of commuting to the office each morningof weekdays to work from a designated desk, remote employees can perform their assignments wherever they please.

 

All you need is a computer or smartphone plus accessto the internet to become a remote worker. The internet givesyou access to cloud-based applications which allows you to do everything in or outside the office. Virtual employees can work anytime of the day as they wish to stay in touch with their stakeholders all over the world thanks to the internet.

 

Working remotely help you to complete your duties on your own schedules which can result in higher engagement rates and increased productivity levels as well, if well managed, according to Harvard Business Review.

 

But you must learn a new approach to adapt to working remotely. Here’s how, (courtesy of CMC Connect Limited):

  1. Create a Dedicated workspace – away from distractions
  2. Start Your Day Early – Waking up late will disorganize your day
  3. Prepare for Work! – Take a shower, change your clothes
  4. Create a to-do-list: Write down the task to be achieved for the day
  5. Stay Focused: Avoid distractions by setting boundaries, help your loved ones understand that you’re not on a holiday
  6. Take breaks, stretch your legs
  7. Communicate! Respond to calls, emails, messaging apps, video calls etc.
  8. Celebrate Your Wins: Go over the day’s tasks and tick off those you were able to deliver
  9. Review the day’s achievements with your line manager and teammates
  10. Working from home (WFH), is only effective when you are in constant communication with line managers and teammates.

 

  1. Embrace Collaborative Business–In collaborative business, companies coordinate withothercompanies to maximize their efficiency and profitability. Collaborative business is used by companies to team up with competitors and suppliers for efficiency, and it can also be used as a sales strategy to capture more market share.

 

A food vendor and transportercan partner to deliver provisions to homes. Technology consulting firms can partner with a professional body to deliver webinars to their members.

 

  1. Maintain/Increase your Marketing Budget – In challenging times, many businesses cut down their marketing budget though unbeknownst to them it’s to the detriment of the business. Lean periods are the times businesses needs to market more because consumers are restless and looking to make changes in their buying decisions. You need to help them find your products and services easily.

 

This is the best time to increase your investment in public relations. Almost all the industry and profession have something to say to the virus to navigate the COVID-19 era. Credential experts in medicine, law, finance, HR, technology, media, supply chain management etc. can leverage radio and TV news talk programs to position their brands, and reach more people than they have in years, according to Nielsen. This is one of the times when knowledge or professionalism counts to provide relevant information to customers to manage the crisis.

 

Brands should constantly update their online profiles – websites and social media handles as the authentic sources of information. Hotlines should be activated as well. Efforts in social listening, media scanning and keyword monitoring should be doubled to quickly respond to any untoward rumour.

 

  1. Protect Business Cash Flow – Cash is the lifeblood of every business to take care of overheads and keep business healthy. But the harder times get, the harder it can be to keep the cash flowing in. Free cash-flow, equity and debt financing are the best sources of working capital. However, these options may not be available for all businesses in challenging times.

 

In such cases, there are alternative cash-flow management strategies that businesses can use to ease the strain on their working capital such asrequesting for a deposit; cutting or delaying expenses; financing purchase orders; and selling invoices.

 

  1. Communication – Create and maintain an open line of communication relevant to your stakeholders such as employees, customers, suppliers, creditors and government regulators to maintain ongoing engagement and support. These stakeholders require different messaging and media, it is essential to keep them informed.

 

  1. Maximize Government Financial Support Policies–the Central Bank of Nigeria announced several financial intervention policies to support households and companies in mitigating the negative impact of the Coronavirus pandemic on the affected families and enterprises nationwide. This include:

 

  1. The credit relief of $136.6M and additional N50billion facility through the NIRSAL Microfinance Bank for households, small and medium-sized enterprises, airline service providers, hotels, and health care merchants affected by the coronavirus pandemic.

 

  1. The apex bank dropped interest rates on all its intervention funds from 9 percent to 5 percent per annum for one-year effective March 1, 2020.

 

  1. Unspecified credit support for pharmaceutical companies intending to expand or establish their own drug manufacturing plants in Nigeria as well as to hospital and health care practitioners who intend to build or expand to world class standards.

 

  1. Forbearance to big businesses by granting banks leave to consider the temporary restructuring of the tenure and loan terms for businesses and households most affected by the outbreak, particularly the oil and gas, agriculture and manufacturing.

 

Your organisationmust step up to the plate and toadapting to the current realities. As you already know, this is the era that businesses must demonstrate their nimbleness by quickly and effectively responding to the demands of change while continually delivering high performance.

 

SegunMcmedal, leading business communications and public affairs advisor, lives in Lagos.

 


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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Dufil Takes Donation of Indomie Noodles Cartons to Vulnerable Communities in Abuja and Environ

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In line with its commitment to provide critical support to indigent members of communities around the country in the face of the ongoing economic challenges, Dufil Prima Foods Limited, makers of Indomie Instant Noodles, in partnership with Golan Helps Abuja Food Bank Initiative (GHAFBI) and Meluibe Foundation on Wednesday, April 17 distributed Indomie noodles cartons to vulnerable communities in Kuje and Kubwa Local Government Areas in Abuja.

With the goal of alleviating hunger and supporting communities across Nigeria, Indomie Instant Noodles has committed to donating a substantial quantity of noodle packs to various NGOs working tirelessly to address food insecurity.

These organizations play a crucial role in reaching remote and underserved areas, ensuring that nutritious meals reach those who need them most.

“We are deeply committed to making a positive impact in the communities where we operate,” said Olusola Olayinka Idowu OON, former Permanent Secretary, Budget and National Planning, and the CEO/Founder of GHAFBI.

“At GHAFBI, we believe that everyone deserves access to wholesome and nourishing food. Our partnership with Dufil Prima Foods to donate Indomie Noodles packs is a big step towards addressing food insecurity and supporting vulnerable communities in Abuja”, said Idowu who was also the former National Conveyor, UN Food System Dialogues in Nigeria.

Speaking in the same vein, Obialunanma Nnaobi-Ayodele, Executive Director, The Meluibe Empowerment Foundation, expressed her gratitude to Indomie Noodles for the partnership. “Our vision as an NGO is to change the world one step at a time, by providing relief and support to vulnerable communities.

This is achieved through collaborations and partnerships, one of which is what we have done with Indomie Noodles. We remain grateful for their support through this food relief initiative”, she said.

By partnering with NGOs, Indomie Instant Noodles works closely with local leaders and community heads in directly engaging with rural communities to distribute noodle packs and provide immediate relief to families facing hunger and ensuring that food assistance reaches those who are most in need, especially in hard-to-reach areas.

“We are grateful for the opportunity to collaborate with NGOs and community leaders to make a meaningful difference in the lives of people facing food insecurity”, said Temitope Ashiwaju, Group Corporate Communications and Events Manager, Dufil Prima Foods Limited. “Together, we bring hope, love and relief for all”.

The community leaders and some of the beneficiaries also expressed their immense gratitude to Indomie for the support, stressing the impact the products donated will have in alleviating hunger in their communities.

Speaking at the outreach centre, His Royal Highness, Muhammed D. Jibril, Community Leader of Gbazango Community in Kubwa Local Government Area said: “I am very grateful to Indomie Noodles for coming to our aid in these challenging times. I pray for more expansion and growth for the business and may God bless Indomie Noodles”.

Other communities who benefited from the product donations include Wunmi, Tondo, Godoji and Shazhi communities in Kuje Area Council of Abuja.

Dufil Prima Food’s donation of Indomie Noodle packs underscores its commitment to corporate social responsibility and its dedication to supporting communities in need. By providing essential food relief, Dufil Prima Foods is contributing to the well-being and resilience of vulnerable populations in Nigeria.

Indomie Instant Noodles remains dedicated to bringing joy to mealtimes and making a positive impact in communities around the world.


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Verra Certifies d.light’s Clean Cookstove Projects in Sub-Saharan Africa

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A series of pioneering projects by d.light, the global provider of transformational household products and affordable finance for low-income households, to distribute 600,000 energy-efficient clean cookstoves in Kenya, Nigeria, and Uganda have been officially certified by global verification body Verra.

This certification confirms the d.light projects as trusted, verified sources of high-quality carbon credits in the voluntary carbon markets (VCMs).

The d.light projects aim to simultaneously reduce carbon emissions, tackle indoor air pollution, and reduce deforestation through the sale of highly efficient biomass cookstoves subsidized by the revenues from the sale of carbon credits.

Since their launch in late 2022, the projects have positively impacted more than one million lives and are projected to transform more than three million lives by 2025.

Commenting on the news, Karl Skare, d.light’s Chief Product and Strategy Officer, emphasized the projects’ positive impact, “With these projects, we’re not just addressing environmental concerns but also enhancing quality of life for millions.

“Each project underscores d.light’s commitment to practical, innovative solutions that address both environmental and social challenges, as part of our mission to transform the lives of one billion people by 2030.”

Each year, domestic cooking emissions contribute more than two percent of total global GHG emissions and up to 25 percent of anthropogenic black carbon emissions.

Highly energy-efficient cookstoves solve this problem by reducing biomass use by up to 70 percent compared to traditional cooking methods, cutting emissions of both carbon dioxide and black carbon.

The d.light projects are expected to reduce emissions by up to 12 million tons, contributing to climate change mitigation. These emissions reductions will be registered as carbon credits in the voluntary carbon market.

As well as reducing emissions, clean cookstoves are also a benefit to public health. According to the World Health Organisation, exposure to smoke from cooking fires causes an estimated 3.2 million premature deaths worldwide each year and is still one of the predominant causes of pollution-related illness and death in Africa.

In Uganda, for example, less than one percent of the population has access to clean cooking, household air pollution is the one of the largest risk factors for death and disability.

In addition, switching from traditional three-stone open fires to cleaner, energy-efficient cookstoves significantly reduces deforestation and reduces threats to wildlife and biodiversity caused by habitat loss.

Skare explained, “By subsidizing energy-efficient cookstove costs through carbon financing, d.light makes clean cooking accessible to more households, which in turn leads to healthier living conditions and conserves natural resources as well.

“Our projects in Kenya, Nigeria and Uganda are models of how sustainable investments can yield multiple co-benefits, aligning with global efforts to combat climate change and also promoting socio-economic development.

Skare added, “d.light now has projects certified by both Gold Standard and Verra, the world’s two leading certifiers of carbon credits. Organizations looking for ways to offset their own emissions can be confident that when they purchase carbon credits in d.light’s clean cooking projects in sub-Saharan Africa, they are investing in transformative initiatives that reduce harmful emissions, improve people’s health and quality of life, and help conserve the environment as well.”

 


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Remedial Health Unveils New App with Digital POS to power operations for Africa’s Neighbourhood Pharmacies

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Remedial Health, a health tech startup that develops solutions to make Africa’s pharmaceutical value chain more efficient has unveiled an updated version of its customer-facing app, designed to function as an operating system for neighbourhood pharmacies and Proprietary Patent Medicine Vendors (PPMVs) across the continent.

The new app comes with a digital POS terminal to support payment collection, virtual business accounts to receive payments, an in-built barcode scanner feature for recording product sales and store-switch functionality to enable the seamless management of multiple stores, as well as inventory management solutions for restocking and easily identifying short-dated products.

The app also offers comprehensive financial reporting to manage profit and loss, and data analytics to inform decision making.

Despite accounting for 85 per cent of retail medicines sold in Africa’s pharmaceutical industry (projected to reach $70 billion market size by 2030), the absence of bespoke digital tools to manage their unique sales and inventory management needs means neighbourhood pharmacies and Proprietary patent Medicine Vendors (PPMVs) are unable to run their operations as effectively and profitably as possible.

At the same time, the reliance on paper-based inventory and sales management processes means manufacturers have limited empirical insights into customer behaviour to inform their decisions on production and distribution.

The new Remedial Health app has been designed specifically for healthcare businesses in Africa, with tailored features that have been designed to support effective decision making to drive business growth and profitability.

Starting in Nigeria, healthcare businesses can access vetted medicines, and manage their sales and inventory on one easy-to-use platform, freeing up time and capacity to effectively serve their customers and communities.

The app also enables Remedial Health to provide consolidated, real-time data on market behaviour to manufacturers for increased profitability and better decision-making across the value chain.

According to Samuel Okwuada, CEO, and co-founder of Remedial Health, “Neighbourhood pharmacies and PPMVs represent the frontline of healthcare delivery in Africa but they have historically been left to their own devices to figure out how to be efficient and profitable.

“Our mission is to empower these essential service providers with the tools they need to manage day-to-day operations and seamlessly run their practices effectively. We spent a lot of time interacting with our customers in the process of delivering this product and the feedback has been great.

“We are excited by the opportunity to get the app into the hands of pharmacies and PPMVs across the country to support their ongoing success, as well as the health and wellbeing of the nation”.

In 2023, Remedial Health sold more than 300 million individual packs of medicines to 7,500 hospitals, neighbourhood pharmacies and PPMVs across all 36 states of Nigeria.

Its customers also improved their profits by 30 per cent on average, with access to more than 8,000 vetted products at the same, or better than, open-air medicine market prices.

They can also access same-day delivery and leverage inventory financing to minimise cash-flow friction for routine orders and maximise sales opportunities.


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