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A Classic Double Play in Least Expected Sectors – Cigarette and Life Insurance

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This is an example of double play: head you win, tail you also win. Yes, a cigarette company is setting up a life insurance business, and will recruit clients by giving smokers discounts.

explained in the duality element that digital products which thrive are typically both products and platforms. It would be hopeless to build modern digital products without having a moat through platforms. Interestingly, the greatest digital ICT utilities have double plays in their business models: if Amazon decimates many brick-and-mortar stores, it would welcome many online to sell them cloud services. Alibaba welcomes you to its marketplace platforms, and you certainly have signed up for its (partly affiliated) payment processing solutions (Alipay) which command commissions.

Here, Marlboro maker has started a life insurance company called Reviti. I do not expect the premium to be the most competitive in terms of price in the market.

Philip Morris International, the tobacco company that sells Marlboro cigarettes, is getting into the life insurance business.

Called Reviti, the wholly owned subsidiary will initially sell life insurance in the U.K. with plans to expand into more markets overseas. Smokers will receive discounts if they stop, quit or switch to a possibly less carcinogenic product, like Philip Morris’ vaping devices.

On average, people who switch to e-cigarettes will receive a 2.5% discount on premiums, people who switch to Philip Morris’ heated tobacco product iQOS for three months will receive a 25% discount, and people who quit smoking for at least a year will receive a 50% discount, the company said. Premiums for a 20-year-old nonsmoker run about £5 ($6.47) per month for a life insurance policy that pays £150,000 ($194,125). The same premium would buy a £60,000 ($77,650) policy for a 40-year-old nonsmoker.

The Nigerian Labour Congress PLEDGE – All Employers Must Comply

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I support Nigerian Labour Congress on this: N30,000 total compliance in Nigeria. Yes, every employer – public or private – must pay the minimum wage of N30,000. But to make this work, NLC needs to have mechanisms to make it easier for employees to send complaints if their employers do not comply.

This must not be like those toothless wasteful adverts you read on Guardian where government will write “We have observed that some companies are importing substandard products into Nigeria. We know where you are. This notice is to tell you to stop this illegal import within 2 weeks or we will come after you”.

I always ask – why waste money to advertise, telling the companies to stop, when you have the rights to round them up overnight. So, NLC, the minimum wage is no more talk – help workers and build processes to ensure compliance. I want people to earn better as that ensures inequalities are managed.

The Nigerian Labour Congress (NLC) says the new minimum wage recently signed into law by President Muhammadu Buhari is binding on all employers of labour in the country.

The president of NLC, Ayuba Wanna, said this while appearing as a guest on Channels Television’s Sunrise Daily on Friday.

Mr Wabba said the new minimum wage has become binding, having been approved by the two chambers of the National Assembly and signed into law by President Muhammadu Buhari.

The NLC boss lamented about the varying salary structure of the public and civil service, calling for a guide to streamline the system.

He also called for an increase in the payment of pensions and gratuity to retired Nigerian workers.

Every employer in Nigeria should sign this “pledge” – and cover from cleaners to guards. It will strengthen the nation and take us to the next level. Largely, there is no fairness maximizing dividends for shareholders when those working day and night are not paid fair wages. Let’s support NLC on absolute and full compliance of the N30,000 minimum wage for both private and private entities.

LinkedIn Comment on Feed

#1

It is a tricky one, and cannot be addressed from Abuja, the finer details paint different pictures for various categories of ’employers of labour’. The State governments can offer better legislation on the issue of minimum wage, especially where private entities are involved. There are businesses with less than N3m annual revenue, can they pay N30k monthly without going under? And those who struggle to pay are not likely to employ more people, forcing the few there to do more; with unemployment paralysis on the other hand. We need to define categories and frame our messages better, it is impossible for all employers to afford N30k minimum wage; it doesn’t matter what the government or NLC think.

This is the reality. For medium and large enterprises, no issues, but for micro and small businesses? It does not work like that; NLC cannot even enforce it, when you see the balance sheet of some entities, you may even wish to send them some money. Nigeria’s economy is very small, if you think N30k is easy to pay, then think again; some will be very grateful to go home with N20k for now. We can focus on those who can pay, nothing works for everyone in Nigeria.

#1 Comment Add-Ons

Indeed a strong and valid point from you there. I remember a small clinic i did locum Around Aja axis in Lagos where a medical doctor is paid 85k while other health cadres go home with less than 30k per month. Obviously, non of us could complain because we knew how much profit me make monthly while sometimes our MD would seek for fund to pay salaries.

On the other hand, I was also opportune to work in one of the leading hospitals in the VI where a medical officer goes home with less than hashtag150k monthly in a facility where consultations alone could be as high as hashtag40k. Obviously this later employer could afford to pay better but didn’t.

Francis Oguaju you have rightly put it that – focus should be on those who can pay but not on every employer of labor because some enterprises are standing on a broken Tibia that needs support not burden of extra wage bills.

#2

“Oga ta Oga oo ta owo alaaru aape”. A popular Yoruba proverb describing the sentiment between the employee and his wage, in relation to his employer’s business revenue. It’s a good event for minimum wage to rise to N30,000 which of course can hardly sustain a household of father, mother and one child. However labour productivity and attitude to work needs to change, particularly in the public institutions.

Anytime responsibilities take me through our public institutions, I see too many productivity and work related attitude questions looking for answers. Whether it is a public or private employer wages are easily improved when the employee puts in the best work attitude resulting to more revenue.

Also more middle class professionals need to venture into entrepreneurship to create more wage earning opportunities.

 

What Nigeria Labour Congress Should Do On Minimum Wage Negotiation with Government

The Minister Clarifies on “Surplus” Doctors

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Chris Ngige, Nigeria’s minister of labour, who caused tension when he used the word “surplus” on Nigeria’s medical capacity, has clarified. Largely, every human being that watched the Channels TV interview misquoted him. We will take that provided no one says we have excess doctors in this nation.

The Minister of Labour and Employment, Chris Ngige, has clarified his position on the issue of migration by Nigerian medical doctors to foreign nations, a development which has reportedly led to brain drain in the nation’s medical profession.

Mr Ngige made this known in a statement signed by Nwachukwu Obidiwe, his Special Assistant on Media, in Abuja on Thursday.

He was reacting to a media report on Channels Television, where he reportedly said the issue of doctors leaving the country in a large number did not call for much concern.

He described the attendant controversies that had trailed the comment in the media as unnecessary, calling for a deeper understanding of the issue in question.

“I speak from the vantage position of being a medical doctor and member, Nigerian Medical Association since June, 1979 and enriched by my vast knowledge on health administration.

The Ghana’s Zipline $12.5 Million Contract

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This is largely banned in Nigeria at scale

Give it to Silicon Valley – they always know how to find values in Africa. Zipline has a $12.5 million contract to help the government of Ghana to deliver drugs using drones. The company will cover 2,000 health facilities which currently serve 12 million Ghanaians. (Ghana has a population of about 29 million people.) The plan is 600 deliveries per day for four years. If you do the math, it comes down to $14 per delivery on average.

Zipline claims it would be able to cover 2,000 health facilities that serve 12 million Ghanaians (of a population of just under 30 million)—from small community clinics and vaccination centers to larger general hospitals like Tafo – when all its four local centers become operational.

The company has been contracted by the government of Ghana to make 600 deliveries a day (150 deliveries from each center) for four years and they will be paid per successful delivery. It would cost Ghana $12.5 million during the period.

Critics have argued the government should have rather spent the money on more important and simpler things the health sector really needs such as the critical shortage of hospital beds, gloves, consistent supply of water and the improvement of hospital buildings

It would have been good to know how much the government has invested in the Ghana’s postal service in the last few years. Possibly, its model would have been $1 per delivery and the very reason it might not have done the work effectively. There is never fund to make the postal service operate optimally.

This is serious: one American celebrity chef was complaining many years ago that U.S. kids were not getting good nutrition from their school lunches. He prepared mock lunches and was on CNN making all kinds of noise, throwing away food supplies that did not meet his level, as he visited schools. Then school districts invited him to their districts. They gave him a budget as they received from the city-leaders to make the same quality of meals he was showing on TV.

Jamie Oliver ran away! Simply, you can make a Buckingham palace –quality food on CNN but when you operate on the city-level budget, it will not happen. Largely, it is possible Ghana’s postal service may be delivering each below that $14, and would still be expected to achieve the same result. That would not happen!

More so, now that we have the numbers from Ghana, it would be good to know how much Lagos State is paying per delivery as Zipline is launching in the Centre of Excellence soon.

LinkedIn Comment on Feed

By default or via selfishness, we expect people close to us to work for us free or at infinitesimal amount, else we take the deal elsewhere and pay handsomely; even being thankful to the person/entity for accepting to do the job… Equal pay, equal demand for performance; else you do not have a case.

Maybe we do not like working with those around us, or we simply do not trust them. Whatever is the case, let there be value for money, before it becomes financial malfeasance.

Helping Foreign Brands on Product Debuts in African ecommerce

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Beautiful young asian woman holding a credit card and shopping online with using laptop computer at cafe on blue tone, girl payment on internet, business ecommerce icon concept.

 By Nnamdi Odumody

Alibaba’s B2B e-commerce platform, Tmall, recently launched a new dedicated gateway for consumers to discover new products on its sister Taobao’s app. This is as a result of Tmall’s redesign to position it as a branding powerhouse. and go to platform. for brands launching product debuts in China.

With this collaboration, Taobao users can click on a Tmall icon to access the channel ‘’TMall New Products’’ which features any array of creative content and personalized recommendations to help consumers discover exciting products that just made their debuts in the market. Taobao’s app has nearly 700 million monthly users, and is one of the most visited platforms in China at 7.8 times a day.

From today, customers clicking on the “Tmall” icon in their Taobao mobile app will be directed to the “Tmall New Products” channel, which includes a full array of new features – including Tmall’s “Most Sought-after New Items,” “The Next New Things,” “Limited Editions” and “New Flagships.”

Working with brands and key opinion leaders, the channel will provide customers with in-depth information and recommendations on new products.

“Building on our strong track record, we will continue to invest heavily this year to help Tmall brands and merchants attract traffic and infuse innovation into their supply chain management, product development and cross-disciplinary collaboration,” said president of Taobao and Tmall Jiang Fan.

“Our goal is for Tmall to become the top launchpad for global brands’ debuts. We will provide the necessary support to brands to make their product launches more effective, on target and successful.”

According to Jiang Fan, President of Taobao and Tmall, its goal is to become the top Launchpad for global brands that want to make their products debut in China, and its 2019 strategic focus is to help Tmall brands and merchants attract traffic and infuse innovation into their supply chain management, product development, and cross disciplinary collaboration.

Brands which use Tmalls suite of product debut marketing solutions such as Heybox or TMall Innovation Center which leverages consumer insights to help brands speed up new product development can extend their reach with the Taobao App.

Heybox uses machine learning to bring personalized selection of products to Chinese consumers.

On the first day of pre-sales, Tmall shoppers ordered more than 2,000 jars while over 10,000 orders were recorded by the end of the week. Its global release is slated for April 29th 2019.

Konga, Jumia and other leading African e-commerce brands, should learn from Taobao, and adopt a strategy tailored to fit local realities for foreign brands wishing to launch new products in the continent.