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Health-tech Startup mPharma, Lays off 150 Employees as it Navigates Economic Conditions

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mPharma, a Ghanaian-based health-tech startup that offers solutions to health insurance and pharmaceutical companies, has laid off 150 employees, as it navigates tight economic conditions.

The company announced that the difficult decision was taken to right-size the team which was attributed to the current macroeconomic conditions driven by the devaluation of the Naira.

Announcing the layoff, the company CEO Gregory Rockson said, “We took the difficult decision to right-size the team. The layoffs are in the light of the current macroeconomic conditions driven by the devaluation of the naira”.

mPharma disclosed that severance packages were provided to support the affected employees. The company also demonstrated its commitment to their well-being, allowing them to keep their health insurance and extending the period for exercising their stock options from 90 days to 3 years.

As mPharma parts ways with some of its employees, this will enable the company to double down on its main healthcare business, Mutti. Mutti is mPharma’s online pharmacy, catering to over 200,000 patients each month.

With a renewed focus on Mutti, mPharma aims to establish the product in every community across the African continent.

Notably, mPharma has been successful in securing significant investments, raising a total of $90 million, including a $35 million series D funding round last year. In line with its expansion strategy, the company acquired a majority stake in HealthPlus, a leading pharmacy chain in Nigeria, and bought stakes in Vine Pharmacy in Uganda and Halton’s Pharmacy in Kenya.

Currently, the health-tech startup partners with over 150 hospitals, and operates in nine African countries, which include Nigeria, Rwanda, Ghana, Kenya, Gabon, Zambia, Malawi, Ethiopia, and Uganda.

Since its inception in 2013, mPharma has evolved from managing prescription drug inventories to offering a range of services, including retail pharmacy operations and market intelligence for hospitals, pharmacies, and patients.

By using the technology infrastructure it has built, the company connects patients, pharmacies, and hospitals through cloud-based software. The system enables doctors to track in real-time which drugs are available and at which location, thus giving patients reliable access to medicines.

In response to the COVID-19 pandemic, the company expanded its offerings to include telehealth services. Additionally, mPharma played a crucial role in facilitating the procurement of vaccines for the Ghanaian government in 2020.

By harnessing technology to eliminate the inefficiencies and price fluctuations that prevent drug prescriptions from reaching sick people, mPharma has helped 400,000 patients make savings on high-quality medicines.

The health-tech startup envisions an Africa that is in good health and has ensured that it will not cease until every person on the continent has access to safe and affordable medicine.

Understanding Post-No-Debit/Freezing Orders on Bank Accounts in Nigeria

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One fundamental human right guaranteed under Nigerian law is the right to own property guaranteed by The Constitution of The Federal Republic of Nigeria 1999(as amended), but this right is not without its limits.

In the interest of justice and the preservation of the proceeds of crime, a court of law or special prosecution agency can through a temporary instrumentality known as a Post-No-Debit or Freezing/Forfeiture order made ex-parte (meaning “on one side only”or without an appearance by the party the order is aimed at), freeze a bank account or even blacklist a Bank Verification Number (BVN) of a person deemed a suspect with a view to ensuring that criminal proceedings, particularly investigation and prosecution, does not become a waste of time or nullity.

This article will be looking at Post-No-Debit/Forfeiture Orders on bank accounts , from their requirements to lifespan to courts with jurisdiction to grounds for revoking them.

Which court is vested with jurisdiction regarding the power to make Post-No-Debit or Forfeiture orders?

The Federal High Court of Nigeria is vested with the original jurisdiction to make Forfeiture orders as long as they are banking matters not within the scope of banker/customer relations.

Which agencies dubbed ‘special prosecutors’ also have the power to procure temporary forfeitures on bank accounts in Nigeria?

– The Economic and Financial Crimes Commission (EFCC)  through its Sections 29&34 of the Economic and Financial Crimes Commission 2004 is empowered to approach the court for an interim order of forfeiture and freezing order on banks or other financial institutions and such order may only be discharged where the defendant is discharged and acquitted.

– The Asset Management Corporation of Nigeria (AMCON) through relevant provisions of the AMCON Act 2019 also has the power to obtain an order ex-parte to freeze a debtor’s account and such order may subsist till judgment or a final determination/conclusion of the action.

– The Recovery of Public Property (Special Provisions) Act allows the court to make an interim attachment in a pending trial where a prima facie case has been made out warranting the grant of the Post-No-Debit order.

– The Proceeds of Crime (Recovery & Management) Act 2022 through its Section 19 provides that freezing orders on property like bank accounts can be granted where such accounts are believed to possibly and reasonably contain monies constituting the proceeds of crime.

What are the requirements for making Post-No-Debit/Forfeiture orders?

To secure a post-no-debit or forfeiture order, the following requirements must be present :-

– A situation of urgency which is not attended to by an order, will render any further proceedings of no effect and an exercise in futility.

– Showing sufficiently that granting such orders are in the interest of justice.

– An undertaking to indemnify the party against whom the order is made  against any damages suffered should subsequent legal proceedings in that regard turn out to be frivolous.

How long do such freezing orders typically last, especially when granted by the Federal High Court?

Freezing orders on bank accounts are not meant to be perpetual or indefinite . Therefore, they last for the following periods :-

– Not more than 14(Fourteen) days after the party or person affected by the order has applied for the order to be varied or discharged.

– Another 14 days after an application to vary or discharge it has been argued.

– In the case where an application to vary or discharge an order ex-parte is not taken within 14 days of Its being filed, the ex-parte freezing order shall lapse save for where the court makes a direction to the contrary in the interest of justice.

– A party affected by a freezing order made ex-parte can make an application to discharge or vary it within 14 days after service.

Sonik Coin, Pepe Coin, and the new meme coin revolution

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Summer of 2023 has seen the resurgence of interest in new and old meme coins. The meteoric rise of Pepe coin in late April which soon skyrocketed to a $1 billion market cap, and news surrounding Shiba Inu’s Shibarium Layer 2 are just a few reasons why people are flocking to meme coins again. In this overview piece, we take a look at some of the new meme coins rocking the Web3 world.

What is Pepe Coin?

Pepe Coin is a young meme based cryptocurrency that hit the crypto market towards the end of April 2023. Within a few days from it’s launch, Pepe coin – inspired by the polarizing green cartoon character sharing the same name – experienced a huge price increase and surpassed the highly coveted $1.5 billion market cap figure in a few days after its launch.

What is ApeMax and why are people excited about the ApeMax Presale?

ApeMax is one of the newest crypto coins. ApeMax is the world’s first boost-to-earn token, and holders are free to stake or boost entities they like and get rewards in the process. ApeMax merges aspects of fun and meme coin culture with its youthful image and cartoon space ape character, all the while incorporating real utility with the boost staking.

>> Visit the ApeMax Website <<

The ApeMax presale is currently open for a limited time. Eligible buyers can snap up their ApeMax tokens and enjoy presale rates and even discounts via the limited early bird loot boxes. ApeMax is a testament of the innovation and dynamism of the ever evolving and exciting meme coin space.

Sonik Sensations? A look at Sonik coin and Harry Potter Obama Sonic 10 Inu coin.

The lovable blue retro video game character seems to be a new source of inspiration for meme coins in 2023. Harry Potter Obama Sonic 10 Inu coin coin makes use of a mascot character with elements borrowed from this iconic gaming figure. This new token made a big splash coming onto the scene recently with a name like we have never seen before. Harry Potter Obama Sonic 10 Inu coin’s long name and humorous website intrigued and entertained meme coin buyers who flocked to this unique new coin. Another token, Sonik Coin, had a rapid and fast growing presale, amassing a legion of fans in record time.

What is going on with Copium Coin?

Copium coin is a meme based crypto coin which was inspired by the copium memes. Copium set itself apart with a dark theme, poking fun at the meme coin and crypto space in a playful way. Copium coin hit the market soon after Pepe coin’s successful entry and had its debut with a private sale.

What’s going on with OG meme coins Dogecoin and Shiba Inu? 

Dogecoin has been in the news lately in part due to speculations surrounding its association with tech billionaire Elon Musk. On the other hand, much of the news on Shiba Inu has been related to its new L2 Shibarium, and more recently about the possible development of a burn portal for Shiba Inu. Dogecoin is widely regarded as one of the first meme cryptocurrencies and this token famously started out as a joke, but has become fairly popular in recent years with meme coin fans.

Before you consider any cryptocurrency, it’s essential to engage in thorough independent research, consult with independent advisors, and gain a full and comprehensive understanding of the risks involved. All Cryptocurrencies, including meme coins, can be highly unpredictable, display significant price fluctuations over short timeframes, as well as inherently risky. It’s crucial to understand that all cryptocurrencies carry risks, so exercise prudence and only spend what you can afford to lose. Moreover, crypto may not be suitable for all individuals. Furthermore, it’s worth noting that ApeMax is inaccessible for purchase by individuals residing in specific jurisdictions. The list of ineligible restricted countries comprises countries such as the USA, Canada, as well as other restricted countries. Verify your eligibility on the ApeMax website before proceeding.

Pomerdoge Presale Captures the Attention of Cosmos (ATOM) and Axie Infinity (AXS) Holders

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The crypto market is currently under bearish sentiments as two top tokens, Cosmos and Axie Infinity continue to shed price gains. According to reports, Cosmos and Axie Infinity holders have moved to a new presale project called Pomerdoge.

Click Here To Find Out More About The Pomerdoge (POMD) Presale

Cosmos (ATOM) To Suffer More Price Dip

The Cosmos price chart is bearish today, having experienced a drop of over 21.0% within a month. Also, this downward trend is further highlighted by the weak bearish momentum. Examining the daily chart, it becomes evident that the asset price is demonstrating a pronounced downward trajectory.

The price of the Cosmos coin is below key moving averages, including the 50, 100, and 200-day EMAs. The Relative Strength Index (RSI) of the Cosmos crypto value stands at 27.96, as it plunges deeper into the oversold region.

Therefore, the ATOM price is likely to undergo further decrease in the future. According to data from CoinMarketCap, Cosmos’s price has registered a slight uptick of 0.19%, reaching $7.13. However, a surge of activity on the Cosmos network could help the coin recover.

Axie Infinity (AXS) RSI Indicator in the Oversold Region

The Axie Infinity market was one of the top metaverse and gaming tokens that have captured users’ attention in the past 2 years. Unfortunately, things have been going downhill for the token since its Ronin Bridge attack.

Currently, the price of Axie Infinity is $4.71, a 2.78% price decline in the last 24 hours. Similarly, the token’s price has dropped by 3.90% in the past 7 days.

Looking at technical indicators, the Axie Infinity token is trading below all moving averages. Currently, the RSI value is at 29.56, which indicates that the Axie Infinity price is in an oversold position. The RSI indicator suggests that the price of Axie Infinity will decrease.

Pomerdoge (POMD) Rekindles Investors’ Interest in P2E Gaming

While Cosmos And Axie Infinity are looking at more price drops, Pomerdoge (POMD) emerges as a project with fresh vitality within the cryptocurrency space. Pomerdoge is planning to introduce a captivating play-to-earn gaming ecosystem. Currently, Pomerdoge has sold over 178 million tokens, resulting in a notable 15% upswing in price.

Crypto experts are particularly bullish, foreseeing even more substantial price escalations as the project advances further. One major component of Pomerdoge’s upcoming ecosystem is Pomergame, a play-to-earn cryptocurrency game. This innovative game will offer players the opportunity to elevate their in-game characters and earn rewards.

Additionally, another component of the upcoming ecosystem is Pomerplace, the platform’s marketplace. Here, gamers will be able to trade skins, items, and other valuable in-game items. The Pomerplace will serve as an arena for gaming battles. Remarkably, the native token of Pomerdoge can currently be acquired for a modest price of just $0.01.

Simultaneously, analysts are envisioning a remarkable surge in price before the conclusion of 2023. Their projections place Pomerdoge on a trajectory to reach an impressive value of $0.35 by December.

Find out more about the Pomerdoge (POMD) Presale Today:

Website: https://pomerdoge.com/

Telegram Community: https://t.me/pomerdoge

Cosmos (ATOM) and Near (NEAR) Holders Seek Refuge from Market Woes, Everlodge (ELDG) Presale Gets Bullish

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As the crypto market faces turbulent times, Cosmos (ATOM) and Near (NEAR) investors are actively seeking safer investment opportunities. One such promising venture is Everlodge (ELDG), currently in its presale phase, which has managed to attract increased attention despite the market woes. Let’s examine the ins and outs of Everlodge and how it is thriving in such a turbulent market.

Join the Everlodge presale and win a luxury holiday to the Maldives

Everlodge (ELDG): The Next-Gen Real Estate Opportunity

By obliterating traditional constraints such as nationality, origin, and creditworthiness, Everlodge is democratizing access to the real estate realm through a decentralized Real Estate NFT marketplace, anchored solidly by tangible properties.

Picture this: dipping your toes into the investment waters with a slice of a swanky New York hotel, a quintessential Airbnb in London’s trendy districts, or a serene villa in the Maldives—all with a mere investment of $100.

Powered exclusively by blockchain technology, Everlodge pledges an unwavering commitment to three core principles: utmost decentralization, instant transactions, and a cloak of anonymity for its users.

By minting NFTs, each signifying a fractional share of luxe properties, Everlodge equips investors with a stake in palpable assets without ensnaring them in the intricate web of traditional real estate bureaucracy. With these NFTs etched indelibly on the Ethereum blockchain, they stand as beacons of trust, offering transparency, authenticity, and unmatched control.

The market’s reception of Everlodge’s presale speaks volumes of its disruptive potential. Within a short span, over $300K has flowed into its coffers, a testament to its allure even when the broader crypto landscape oscillates with uncertainty.

With the global vacation rental arena currently pegged at a staggering $82.6 billion and poised to grow at an impressive 4.7% CAGR through 2023-2030, the winds of change are palpable.

Analysts are increasingly recognizing Everlodge’s potential to be more than just a participant in this space. Its decentralized platform could very well be the beacon of a new era in global real estate investment. Analysts note that the current presale price of $0.01 per ELDG could soar by 30x when the core platform launches within the next year.

Cosmos (ATOM): Support Zones and Recovery Challenges

Cosmos’ interoperability function aimed to address one of the most significant challenges facing decentralized finance: facilitating seamless transactions across various blockchains. The promise was to create a unified Cosmos ecosystem where assets could be effortlessly transacted without the barriers of individual blockchain silos.

Despite Cosmos’ groundbreaking proposition, the Cosmos token has faced a drastic downturn of over 70% within two years. And even as it hinted at a potential resurgence in 2023’s first quarter, this optimism was short-lived, with the Cosmos token descending further from a hopeful $15 to its current standing at $7.01.

Observers have flagged the concerning breach below the $10.00 support level, suggesting possible further depreciations on the horizon. Immediate support zones are identified at $5.70 and $4.00, and unless Cosmos can recover past the $10 mark, a prolonged phase of sideways trading is anticipated.

As Cosmos wrestles with staying relevant in the DeFi world, investors have been making the shift to Everlodge. ‘Narrative’ is one of the leading factors behind crypto gains, and investors are recognizing the potential of Everlodge to disrupt the global real estate market.

Near Protocol (NEAR) Investors Turn to Everlodge (ELDG) Amidst Market Uncertainties

NEAR Protocol is a layer-1 blockchain solution built to address the pressing needs of the crypto industry: scalability, swift transactions, and user experience. The driving force behind this ecosystem is the NEAR token.

As 2023 kicked off, NEAR Protocol showed potential as it rallied from $1.20 to $2.75 in under two months. However, its subsequent inability to hold above the $2.00 resistance level as the market reversed has caused concern among NEAR Protocol investors.

The general consensus among analysts is that NEAR Protocol will oscillate between $1.00 and $2.00 until a bull market emerges that sends everything upwards. Losing the $1.00 would spell disaster for the token, as this psychological level is the last line of defense for a swift recovery.

In light of the current market conditions, many NEAR Protocol investors have decided to diversify their portfolios by allocating part of their funds to Everlodge. While only in its presale phase, this emerging project seems to be unaffected by the current market conditions and has solid growth potential.

Find out more about the Everlodge (ELDG) Presale

Website: https://www.everlodge.io/

Telegram: https://t.me/everlodge