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American surgeons have successfully conducted a groundbreaking second heart transplant from a pig to a human recipient

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Surgeons at the University of Maryland Medical Centre in the United States have recently achieved another milestone by successfully performing a second transplant using a genetically modified pig heart.

This groundbreaking surgery was carried out on a 58-year-old patient named Lawrence Faucette, who was suffering from end-stage heart disease. Faucette underwent this pioneering pig heart transplant on September 20, 2023.

Notably, the first historic procedure of this kind took place in January 2022 when David Bennett received a genetically modified pig heart transplant from the skilled surgeons at the University of Maryland Medicine.

Both of these remarkable surgeries were performed by the esteemed faculty of the University of Maryland School of Medicine.

For Mr. Faucette, this transplant represented his only viable option due to his pre-existing peripheral vascular disease and complications related to internal bleeding.

However, there is now encouraging news to share.

A statement on the UMSOM website reports that Lawrence Faucette is currently breathing independently, and his newly transplanted pig heart is functioning well, without the need for any supportive devices.

Dr. Bartley Griffith, the surgeon responsible for transplanting the pig heart into both patients at UMMC, expressed immense gratitude to Mr. Faucette for his bravery and willingness to contribute to the advancement of knowledge in this field. Dr. Griffith is hopeful that Faucette will soon return home to cherish more time with his wife and beloved family.

In response, Lawrence Faucette himself expressed his outlook on the situation, saying, “My only remaining hope lies in this pig heart, this xenotransplant.

Dr. Griffith, Dr. Mohiuddin, and their entire team have been remarkable, but what lies ahead remains uncertain. At least now, I have hope and a fighting chance.”

Conoil is set to distribute a dividend of N1.73 billion to its shareholders

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Conoil Plc has announced a dividend payout of N1.73 billion to its shareholders, equating to N2.50 per share for the 2022 financial year.

Despite facing challenges in Nigeria’s developmental landscape and a demanding operating environment, the company reported significant growth.

Their Profit Before Tax surged by 60.1% to N6.13 billion in 2022, up from N3.83 billion in 2021, while Profit After Tax also saw a 60% increase, rising from N3.08 billion to N4.96 billion during the same period.

Conoil Plc’s gross earnings for the 2022 financial year increased by 5.1% to N145.8 billion compared to N138.2 billion in 2021.

Earnings per share also climbed to N7.14, a 60.8% rise from the N4.44 earned in 2021.

Shareholders unanimously approved the proposed final dividend of N1.73 billion at the company’s Annual General Meeting.

Dr. Mike Adenuga, the Chairman of Conoil Plc, emphasized the company’s commitment to delivering value to shareholders and maintaining a positive share price trajectory.

He highlighted their consistent ability to improve operating margins, expand volumes across locations, and their talented workforce.

The company’s primary goal is to provide excellent services to customers while rewarding shareholders.

Looking ahead, Dr. Adenuga acknowledged potential challenges arising from geopolitical and socio-economic changes but stressed that Conoil would focus on proven strategies to maximize returns.

He also mentioned the Nigerian government’s ongoing reforms, such as removing the petrol subsidy and foreign exchange market reforms, which would inform Conoil’s strategic direction for continued success and shareholder benefits.

Entrepreneur Advises Youngsters to Prioritize Self-Employment

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Willabo Apelebiri, the Chief Executive Officer of Blackwave Security Services Limited, a prominent private security firm, issued a compelling appeal during the 2023 Nigerian Youth Entrepreneurship Summit in Lagos.

Apelebiri encouraged the nation’s youth to channel their efforts into establishing a vibrant entrepreneurial community, envisioning a future where this initiative will significantly alleviate unemployment in Nigeria.

In his address, he emphasized that entrepreneurship serves as the pivotal key to unleashing the latent potential within Nigeria’s youth.

He stressed that by embarking on entrepreneurial ventures, young individuals can not only create employment opportunities for themselves but also for others, thereby contributing to the overall development of the Nigerian economy.

Apelebiri underscored the transformative impact of entrepreneurship in curbing crime and social unrest, offering a constructive avenue for the energy of young people and steering them away from negative influences.

He passionately implored the government to take more substantial steps in supporting aspiring young entrepreneurs, advocating for increased accessibility to financial resources, comprehensive training, and mentorship programs.

Furthermore, he urged the government to cultivate a conducive environment for entrepreneurship to flourish by reducing tax burdens and regulatory complexities.

Apelebiri emphasized that simplifying the process of starting and nurturing businesses is essential for the prosperity of the nation.

Commencing festivities in honour of a queen as she marks another year of achievements – Temitope Deborah Akinlade

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Today, we joyfully celebrate the extraordinary Queen, Temitope Deborah Akinlade, as she adds another year to her remarkable journey on this Earth.

From the moment she was born, her story began, and today, we mark the commencement of her jubilant celebration.

The entire member joins in this festive occasion, extending our heartfelt prayers for your enduring health, boundless prosperity, all in the name of Jesus.

Wishing you both a happy new year and a joyous birthday.

Know that you are dearly loved!

Dangote Secures ‘Brand of the Year’ Award Once More

Dangote Industries Limited has been bestowed with the prestigious Brand of the Year accolade, in acknowledgment of the company’s exceptional corporate achievements in the past year.

During the ceremony held in Lagos, John Ajayi, the Publisher of Marketing Edge, elucidated that Dangote earned this flagship award in recognition of its consistent contributions to the economic growth of Nigeria and the entire African continent.

This recognition encompasses a wide spectrum of business investments and corporate initiatives executed by Dangote across Africa,” emphasized Ajayi.

During the award presentation, he attributed Dangote’s remarkable standing among its industry peers to its robust efforts in job creation, particularly for the youth, and commended the company for its unwavering commitment to vital infrastructure development.

He noted that this award presentation marked the centerpiece of Marketing Edge’s 20th-anniversary celebration and the 11th edition of its annual Brands and Advertising Excellence Awards.

Additionally, numerous other brands received well-deserved recognition for their outstanding performance in the market.

Ajayi underscored that Marketing Edge’s two-decade presence in the industry had firmly established its role as a trusted and authoritative partner for all stakeholders in the Nigerian marketing and advertising landscape.

 

Minimal investor enthusiasm contributes to a stagnant performance on the NGX ASeM board

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The lack of investor enthusiasm in the Alternative Securities Market (ASeM) board of the Nigerian Exchange Limited has resulted in a stagnant trading environment for several weeks. According to data provided by the NGX, the ASeM board’s index has remained static at 658.99 basis points since July 19, 2023.

The ASeM board features various companies, including Capital Oil with a market capitalization of N1.17 billion, Juli with N157.92 million, Rak Unity Petroleum Company with a market capitalization of N16.988 million, and Smurfit Products Nigeria with N9 million in market capitalization.

Capital Oil concluded trading at N0.2 on the most recent Friday and has experienced minimal activity lately.

The company’s last financial results on the Nigerian Exchange Limited date back to September 30, 2018.

Another entity listed on the ASeM board is Juli Plc, engaged in pharmaceutical retail, supermarket operations, and laboratory services.

It closed trading at N0.79 on the last Friday, maintaining this price over its last seven trading sessions, with the most recent activity occurring on July 31, 2023, when 888 units of its shares were traded. Juli has submitted financial results up to the first half of 2023 with the NGX.

Smurfit also closed trading at N0.2 on the recent Friday, the same price at which 1,500 units of its shares were last traded on July 17.

Meanwhile, Rak Unity Petroleum Company plc’s shares concluded at N0.3 per share on the same Friday.

Furthermore, the NGX Regulation Limited, in its X-Compliance Report dated September 8, 2023, disclosed that the process of winding down the ASeM Board is currently underway.

In response to this situation, capital market experts have noted that the board’s subdued performance is primarily attributed to the lack of investor interest.

Tajudeen Olayinka, a stockbroker and the CEO of Wyoming Capital & Partners, emphasized that this is more a reflection of investor sentiment rather than issues with the companies themselves.

These ASeM-listed companies are typically smaller in scale and not highly capitalized, which may deter investors seeking more liquid and well-established opportunities in the market.

UBA unveils a $6 billion initiative to empower small and medium-sized enterprises (SMEs) across Africa

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The United Bank for Africa has announced a significant $6 billion initiative aimed at providing comprehensive financial solutions.

The primary objective is to bolster and support small and medium-sized enterprises (SMEs) across Africa, with a particular focus on key sectors like agro-processing, pharmaceuticals, automotive, transport, and logistics.

In a statement issued on a Sunday, the bank articulated its commitment to granting SMEs access to financing. This initiative has become possible thanks to UBA’s recent partnership with the African Continental Free Trade Area secretariat, formalized during the 30th Afreximbank Annual Meeting in Accra, Ghana.

Under this partnership, UBA pledges to extend up to $6 billion in financing to eligible SMEs across Africa over the next three years.

This collaboration between UBA and AfCFTA will initially concentrate on supporting SMEs in import-dependent sectors such as agro-processing, automotive, pharmaceuticals, transport, and logistics. Their support goes beyond financial solutions, encompassing technical assistance to promote domestic alternatives within Africa.

Muyiwa Akinyemi, Deputy Managing Director of UBA, emphasizes the bank’s commitment to fostering SME growth and development continent-wide, aligning with its role as a catalyst for Africa’s economic progress.

Furthermore, UBA’s vision under this partnership extends beyond financial support; it aims to offer non-financial services to these SMEs, helping them build capacity for growth across the 20 African countries where UBA operates.

Leveraging technology, UBA aims to efficiently deliver its financing activities, contributing to its reputation as “Africa’s Global Bank.”

Alero Ladipo, Group Head of Marketing and Communications at UBA, has disclosed that the bank is ready to provide $240,000 in financing, comprising working capital loans and asset finance loans.

These funds are specifically designed to empower businesses for success in the ever-evolving African business landscape.

Medic West Africa aims to strengthen healthcare infrastructure

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The Medic West Africa Exhibition and Conference, a significant gathering of healthcare trade professionals in West Africa, is slated to return to Lagos’ Landmark Center.

In an announcement from Medic West Africa, it was revealed that this year’s event, scheduled for September 26th to 28th, 2023, marks its 10th anniversary.

The statement emphasized that the event’s purpose is to bridge gaps and provide an unparalleled platform for leaders to engage in discussions and shape the future of the healthcare landscape in the region.

The 2022 edition boasted an impressive track record, hosting 3,260 healthcare professionals from 84 countries and facilitating $30 million in business deals.

Tom Coleman, the Exhibition Director for Medic West Africa, explained, “With the region’s rapidly growing population, there is an increasing demand for quality healthcare services in West and Central Africa.

While governments have made substantial investments in improving healthcare infrastructure and expanding access to medical facilities, Medic West Africa plays a pivotal role in advancing the healthcare industry by creating a conducive environment for businesses and stakeholders to connect, discuss, and explore the latest advancements in healthcare technology and solutions.”

He also expressed excitement about the launch of Medlab West Africa alongside the 2023 Medic West Africa event, stating, “After 20 successful years as a global event brand, Medlab will become the ultimate event where innovation, collaboration, and growth converge to shape the future of the laboratory industry in West Africa.

It will facilitate connections within the medical laboratory community, making it the region’s largest multi-disciplinary laboratory congress and exhibition.

NGX ASeM board remains stagnant due to limited investor enthusiasm

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The Alternative Securities Market board of the Nigerian Exchange Limited has experienced stagnant trading activity for several weeks due to a lack of investor interest.

According to data provided by the NGX, the board’s index has remained at a constant 658.99 basis points since July 19, 2023.

The companies listed on the ASeM index include Capital Oil with a market capitalization of N1.17 billion, Juli with N157.92 million, Rak Unity Petroleum Company with a market cap of N16.988 million, and Smurfit Products Nigeria with N9 million in market cap.

Capital Oil concluded trading at N0.2 on Friday, and it has seen minimal activity in recent times.

Its last financial results on the Nigerian Exchange Limited were reported for the period ending September 30, 2018.

Another company listed on the ASeM board is Juli Plc, involved in pharmaceutical retail, supermarket operations, and laboratory services.

It closed trading at N0.79 on Friday, maintaining this price for the past seven trading sessions, with the most recent trade occurring on July 31, 2023, involving 888 units of its shares.

Juli had submitted its financial results up to the first half of 2023 to the NGX.

Smurfit also closed trading at N0.2 on Friday, the same price at which 1,500 units of its shares were last traded on July 17.

Rak Unity Petroleum Company plc’s shares concluded at N0.3 per share on Friday.

Meanwhile, NGX Regulation Limited, in its X-Compliance Report dated September 8, 2023, has indicated that the process of closing down the ASeM Board is underway.

Regarding this situation, capital market operators have suggested that the primary reason for the board’s decline is the lack of investor interest rather than issues with the companies themselves.

These companies on the board are relatively small-scale and not highly capitalized, which may not attract many investors in the current market environment.

However, it’s important to note that this doesn’t necessarily reflect underlying issues with these companies; they are simply less liquid and may not align with the preferences of the broader investor base.

Introducing the Top 6 Finalists of BBNaija All Stars

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Who do you believe will emerge as the winner of the competition on Sunday, October 1st, 2023, among the following contestants: Ilebaye, Ceec, Mercy, Adekunle, Cross, and Pere?