GRBusiness
How Nutritious is Your Product?
By Iquo Ukoh, Chief Executive Officer, Entod Marketing Ltd
According to the 2017 Multiple Indicator Cluster Survey a staggering 43.6% of Nigerian children are stunted – not growing at the pace they should. Are you in manufactured Food Business? What is the Nutritional value of your product? Will your product helpto nourish your customers and ensure they remain healthy enough to makerepeat purchases?
The fight against nutritional deficiencies can only be won with a multifaceted approach. It calls for individuals, food producers and the government joining hands together to ensure success.
In the last few years, there has been some heightened level of nutrition awarenessamongst some Nigerians. Primarily as a result of the volume of information that is readily available on the internet.
Despite this, the level of nutrition knowledge amongst the larger percentage of the populace remains low. How do you explain a consumer that says that ‘boiled corn has less carbohydrate than roast corn’? Or a young lady on a reducing diet feasting on fruits and saying ‘I have tried to lose weight but the reading on my scale is not moving downwards’. For this lady fruits are not carbohydrates and so should not affect her weight.
For food producers or manufacturers on the other hand there is a need to consciously ensure that foods meant for consumers provide the required nutrients. In addition they should provide sufficient nutritional information on their product packs, for consumers to make informed food choices.
The mother that buys food for her young child is totally dependent on the producer to ensure that the content of the product she buys will meet the need of her child. We eat a pack of chin-chin or plantain chips and may not be aware of the amount of carbohydrate, fat or saltit contains.
Do food producers know what to do?
Whilst we cannot argue that every business is set out to be financially viable, however, the food producer should approach his/her enterprise from the mindset of a social entrepreneur.
A shift in orientation is what is needed such that it is possible for the producer to achieve both objectives. The starting point therefore is for the food producer to have some nutrition knowledge or get the service of an expert in this area.
This will be one way to ensure provision of nutritious products and communicate clearly the product nutritional benefit on labels.
Observation shows that some producers of packaged goods feed on the poor knowledge of consumers, and therefore make unsubstantiated claims on their product labels. Some others just go with the flow of what is in vogue. How do you explain ‘gluten free’ yam flour?
In the first place gluten only exists in some grains so why put such a claim on a root tuber? In other instances there is no nutrition information to consumers at all on the pack.
So, is this the case of the producer not having the right nutrition knowledge about his/her product and therefore cannot properly label or is there nothing nutritional about the product?
Is there a Consumer knowledge gap?
For many Nigerians the daily contact with nutrition is mainly on food product labels. Nutrition as a subject only starts to be taught in secondary school and even at that it is not compulsory.
Even for those that take the subject in school, it is Home Economics and Nutrition with the former been the greater subject content. No wonder the ability to make informed food choices in adulthood becomes a problem.
Research has shown that a lot of the common food-related ailments like diabetes and obesity can be prevented or the incidences reduced if there is adequate nutrition knowledge. The educational system may have to consider introducing nutrition as a subject right from primary school. There is certainly a gap in knowledge.
Making foods nutritious is possible
Whilst the consumers struggle to understand basic balanced diet the producer should be positioned to provide nutrition information in simple understandable language to guide the consumer in making healthy food choices. It is a responsibility the food producer cannot leave to government food regulatory agencies alone.
As a consumer I want to know what a packet of plantain chips can contribute nutritionally to my daily food intake requirement. Indeed what does it do for me? It is not enough to list out ingredients in quantities I do not understand.
I want to know if your product will help improve my eyesight, help my skin glow or increase my energy level to work. In the case of children’s foods the mum wants to know if the food will promote growth, make the child have strong bones and teeth.
A call for Social Impact
‘How does your product ensure that if consumed, it can contribute to a greater workforce for tomorrow?’ ‘Does your product offer good nutrition, or empty calories?’
As Businesses you control the product, have the reach and can trigger the desires of the consumer, put your assets to good use, you are critical in this fight against malnutrition.
The 2013 Nigerian Demographic and Health Survey indicates that 25% of our women population are overweight/obese. The time is now for food producers especially the small and medium enterprises to act. After all, you cannot claim what you don’t have in your products.
As government and researches identify nutritional gaps and prevalent deficiencies, it is the social responsibility of every food producer to help fill these gaps. Today it is clear that we have issues of micronutrient deficiencies.
Vitamin A, Iron and Zinc are some of the areas that food producers can work on to improve guaranteed consumption by the populace’. Some of these nutrients can be either incorporated in foods by fortification or ensuring the use of food produce that already contains these nutrients.
The work of ensuring a healthier nation and consequently a more productive work force is in our hands.
Mrs. IquoUkoh is the Chief Executive Officer of Entod Marketing Ltd, a dynamic marketing services company purposed to help businesses succeed in West Africa. This article is sponsored by the Scaling Up Nutrition Business Network. They can be reached via [email protected]
Finance
Stanbic IBTC Capital leads Presco PLC’s ₦82.9 Billion Bond Issuance to drive West African market growth
Reporter: SANDRA ANI
Presco PLC (Presco or the “Company”), has achieved a significant milestone with the successful issuance of its ₦82,896,000,000 7-year 23.75% senior unsecured fixed rate Series I Bonds under its ₦150 billion bond issuance programme (the “Transaction”) with the Securities and Exchange Commission (“SEC”). Stanbic IBTC Capital Limited (“Stanbic IBTC Capital”) acted as the Lead Issuing House on the Programme.
The proceeds from the Transaction will enable the Company fund its acquisition of a 100% equity stake in Ghana Oil Palm Development Company (GOPDC), further supporting its strategic expansion objectives.
Speaking on the transaction registration, Mr Reji George, Managing Director / CEO, Presco PLC commented:
“The successful completion of our Series 1 Bond issuance solidifies Presco’s foundation for continued growth and expansion. Aligned with our strategic objectives of increasing our planted area of palm oil and, to lead Africa in the fully integrated edible oil and fats business in the nearest future, the proceeds from this issuance will be primarily directed towards the acquisition of a majority equity stake in the Ghana Oil Palm Development Company (GOPDC).
This not only enhances our operational efficiencies, It also solidifies our market presence and competitive advantage in the palm oil sector beyond Nigeria. Most importantly, this will enable us to better serve our valued customers and deliver sustainable value to our shareholders. We extend our sincere gratitude to Stanbic IBTC Capital and all our advisors for their support throughout this process.”
Also speaking on the transaction registration, Oladele Sotubo, Chief Executive, Stanbic IBTC Capital, said:
“Stanbic IBTC Capital is proud to have advised Presco PLC on the successful issuance of its ₦82.9 billion Series 1 bond. As the largest local currency corporate bond issuance in the Nigerian market in recent years, this milestone underscores our deep expertise in capital markets and our commitment to delivering innovative, high-impact financial solutions.
Beyond reinforcing Presco’s strategic growth, this transaction enhances funding diversification within the agricultural sector, driving sustainable industry expansion. We appreciate Presco PLC’s trust in Stanbic IBTC Capital and the consortium of advisors who contributed to the successful execution of this landmark deal.
Transport
Travelers to Make Money as Ozi Launches to Redefine $460 billion Global Package Delivery Market
Key Takeaways from Ozi launch:
- With logistics representing a $1.34 billion in Africa, the demand for innovative delivery solutions has never been greater
- Nigerians face numerous hurdles when it comes to moving packages, ranging from delays and high costs to a lack of secure options
Ozi (www.ozionline.com), a pioneer community-driven delivery app, launches today, offering users a new way to send packages and earn extra cash.
By connecting people traveling with those needing package delivery, Ozi turns everyday trips into profitable opportunities, aiming to disrupt the global parcel delivery industry, also known as the Courier, Express, and Parcel (CEP) market, currently valued at around $460 billion.
Imagine this scenario – You’re traveling to Abuja from Lagos and have empty space in your car. With Ozi, that unused capacity can earn you extra cash by delivering a package along the way. Or maybe you’re a small business owner who needs to send a package to another state but balk at the high cost of courier services.
With Ozi, you can find a verified traveler heading in the right direction to handle your delivery, Engr. Christian Chime, Ozi’s co-founder and CEO, said during the startup launch held today at Four Point by Sheraton, Victoria Island, Lagos.
“Why travel empty when you can earn?” asks Engr. Chime said. “Ozi allows travelers to make the most of their journeys while helping others get their packages delivered with ease.”
“This simple yet powerful idea leverages the daily movements of millions of Nigerians to create a logistics network that is fast, affordable, and efficient.
“Ozi’s unique approach leverages the everyday movement of travelers to bridge this gap, creating a system where everyone benefits”.
He said that the choice of Nigeria as the first launch-location for Ozi was due the potential the country holds in the parcel delivery sub-sector.
“Actually, we had the opportunity to launch OZI in other country outside Nigeria but for their believe in the Nigeria dream and its potentials made us to choose the country as the first to witness Ozi’s innovation”, the CEO said. “Travelers can now monetize their journeys by delivering packages along their routes, while senders gain access to an affordable and convenient alternative to traditional courier services”.
Ozi combines convenience, innovation, and community to deliver a win-win solution for Nigerians. From quick intra-city deliveries to long-distance trips, Ozi offers an affordable, efficient solution for all.
Whether you’re a traveler looking to earn on your trips or a sender seeking a reliable delivery option, Ozi offers a solution that works for everyone.
In the words of Azubuike Augustine, the co-founder and Chief Technology Officer of Ozi, “Ozi’s mission goes beyond simplifying package delivery. The app represents a broader effort to create shared value for all stakeholders in the logistics process. By connecting senders and travelers, Ozi creates a win-win scenario where costs are reduced, trust is built, and income opportunities are created”.
“Ozi prioritizes safety and transparency. Every user, whether sender or traveler, undergoes a comprehensive verification process that includes ID checks and phone number authentication. This ensures that all participants in the system are trustworthy and accountable”.
To enhance security further, Azubuike said that Ozi offers real-time tracking for all transactions. Senders can monitor their packages throughout the delivery process, ensuring peace of mind. For high-value items, optional insurance coverage provides an added layer of protection, reinforcing Ozi’s commitment to reliability.
“At Ozi, we understand that trust is critical in logistics,” the CTO added. “That’s why we’ve built a platform where every step is designed to safeguard both the traveler and the sender.”
“Ozi is more than an app; it’s a community where everyone wins,” said Ikenna Ani, co-founder/COO of Ozi.
“From today, travelers across the globe can sign up through www.ozionline.com and start making every trip count”, he said. “We have put measures in place to ensure only genuine and verified travelers or senders use the platform. Security is primary for us”.
He added that the app will be released on Google Play Store and Apple (iOS) on January 1, 2025. Ozi Live on Instagram | Facebook.
The Beer Sectoral Group (BSG) of the Manufacturers Association of Nigeria (MAN), in partnership with the Federal Road Safety Corps (FRSC), has reiterated the dangers of drunk driving at the launch of the Annual “Don’t Drink & Drive” Campaign.
The two-day campaign began with a press conference on Tuesday, December 10, at Radisson Hotel Ikeja, and continued with park rallies on Wednesday, December 11.
Both events emphasized the importance of avoiding drunk driving, the consequences of impaired driving, and the critical need for responsible road habits to enhance safety across Nigeria.
Speaking at the press conference, Chairman, BSG and CEO Nigerian Breweries, Hans Essadi, commended FRSC for its dedication to road safety and pledged continued support for initiatives that reduce traffic accidents. He stated: “Each year, countless lives are lost to preventable accidents caused by impaired driving. This campaign is built on three pillars: education, enforcement, and encouraging responsible behavior by all road users.”
Essadi also announced the following day’s park rallies, during which campaign teams visited major motor parks in Lagos—Ojodu, Ojota, and Oshodi. At these locations, they engaged commercial drivers in discussions on the risks of impaired driving, distributed educational materials, and offered voluntary breathalyzer tests.
FRSC Lagos Sector Commander Kehinde G. Hamzat emphasized the importance of defensive driving and passengers’ rights to challenge reckless drivers. He also highlighted FRSC’s new app, which alerts users to speed limits, dangerous roads, and potholes.
The press briefing attracted a diverse group of stakeholders, including executives from BSG, senior FRSC officials, and road safety advocates. Speakers highlighted the campaign’s objectives, shared success stories from previous editions, and renewed their commitment to reducing road accidents caused by impaired driving.
The park rallies saw impactful interactions with drivers and park officials, with many participants pledging to adopt safer driving habits. The campaign reinforced the message of accountability and safety through practical demonstrations and community engagement.
The 2024 “Don’t Drink & Drive” Campaign exemplifies the effectiveness of partnerships in addressing critical societal issues. BSG and FRSC reaffirm their shared commitment to reducing alcohol-related crashes and ensuring safer roads for all Nigerians.
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