Google Speech-to-Text API Automatic Transcription (Chirp). Treat it as a searchable index of what was broadcast, not a quotation record.
00:00:00exchanges have role to play, by the time you take this commodities to the
00:00:03warehouse, the NCX Nigeria Commodity exchange or
00:00:07affects goes to the warehouse to issue electronic warehouse receipts that is
00:00:10tradeable on
00:00:11the on exchange, so it means that the flammers of Nigeria who want to
00:00:15buy, they stop disturbing themselves looking for grains, they can actually book on
00:00:19this exchange platform to say they want 40,00 tons of grains
00:00:23for
00:00:24of October, and because there's electric wires
00:00:27of you see that talks about that and collateral manages who could actually...
00:00:35they pay through the exchange, exchange takes their fees, they pay the agregator pays us back to
00:00:39loan that we
00:00:39get to the aggregator, so it's all ecosystem, and don't forget we have a
00:00:43parent ministry that gives us direction that sets the policy, which is the ministry
00:00:47of
00:00:48in agriculture, man by the minister of agriculture and food security
00:00:53of senator, so it's it's all working together as a collective, now we're going to be
00:00:57working
00:00:57you know in partnership with other um encies um
00:01:01to to to actually you know support you know what we do aside
00:01:05NCX we have in adf who trying
00:01:08of you know coop into the program to also bring financing for us to do this at skill because no
00:01:12matter the balance sheet that we have is never going to be enough and I'll give you
00:01:16an example
00:01:17Nigeria uh
00:01:21produces 11 million tons of
00:01:23of grains right government cannot fund 11 million tons of
00:01:27grands if you produce a ton of grain for maybe
00:01:31even 200 thousand right, you're talking about
00:01:35over two over 22 trillion, mean that's
00:01:39of that's you know um half of our budget, so it's always a
00:01:42concerted
00:01:43of effort, of we are constantly out there, road shows trying
00:01:46to um uh
00:01:48in raise development capital from mdbs,
00:01:51mfis, d fis even locally as well, we're constantly looking on mr
00:01:55president, to say through the ministry of finance and
00:01:59cbn we more financing for the sector, there stats that
00:02:03says Nigerian agriculture sector requires
00:02:05of over 10 billion dollars of investment every year for the next 15 years,
00:02:09so where
00:02:10of are we going to get that?
00:02:11of 10 billion dollars is you know uh 15 trillion, we're
00:02:15not we don't we don't have that in country, so it's our job to be on our
00:02:19in toes every single day, working it in our days to ensure that
00:02:22we you know
00:02:22we crowding money into the sector and we're doing it
00:02:25you know
00:02:25in a very transparent traceable manner, all this um
00:02:29of commodities
00:02:30of to be aggregated is is a technology rail, from the time of
00:02:34aggregation, the farmers are
00:02:35in not paid by the aggregators, they are paid into their bank
00:02:39account by the bank of agriculture, so it's a digital
00:02:42payment, and the way it works is an aggregator
00:02:46now becomes even a Boa, um account agent where you immediately open
00:02:50a bank account for the uh the the
00:02:53farmer, and by the time you know you punch in the
00:02:57in technology platform we provided that this person supplied you you know
00:03:01four tons of grains or 20 bags of maze for
00:03:04example, we verify through the collateral managers and mones get
00:03:08credited from the computer into the bank account
00:03:11of the farmer, so he's forced to use his card, and that
00:03:14card,
00:03:15you know, is something that we were able to do within the 12 month period
00:03:18where
00:03:22in we digital all our processes and we issue bank cards that is that is connected
00:03:23of to all the banks in
00:03:24in Nigeria and for even international transactions to every farmer,
00:03:27of meaning the first time in Nigeria that I actually would
00:03:31have a bank card which is not you know um a gt bank
00:03:34card or Zeny bank card but would have works like a GT bank card or any bank
00:03:38card and the last thing is his NIN number is imprited on that
00:03:42card so it means if the interventions maybe fertilizer for free
00:03:46from ministry of agriculture it can actually use his car to go and
00:03:50clean the fertilizer because you put it into a bank of agriculture POS
00:03:53system and you put the number the fertilizer and you get is your
00:03:57fertilizer also sounds really
00:04:00interesting, I must say, and we expectant
00:04:04and we expect that to work, and of course um,
00:04:08it's something that the farmers would really appreciate, because uh, we do
00:04:12of know that that guarantee uh is also
00:04:14in um security for them to go back to farm the
00:04:18next season, but thank you so much and we certainly wish you the very best in this program,
00:04:22managing director and chief executive officer
00:04:25of the bank of agriculture, mr. thank you for your
00:04:28time, before we go, Yes, before we go, can I say one more thing, please go
00:04:32ahead, um, we're not in the business of
00:04:36playing politics, right? farmers
00:04:39of might think, oh, you're giving it to x amount of farmers, you're not giving it to us,
00:04:43let's be honest with ourselves, give the bank a
00:04:47break and give us just sort of
00:04:50uh, an elastic you know
00:04:53uh um ruler
00:04:54of where watch us over a period of time, we've only been in operation properly for
00:04:58year, you can't expose. to fix the problem
00:05:00of the entire agriculture sector, and like I said, we have 70 million farmers,
00:05:04there's no
00:05:05of way the bank will finance 70 million farmers in a day, we finance
00:05:09500 thousand farmers so far, our next you know ambition. planning
00:05:12is to move to 2 million farmers and after move to 2 million
00:05:16farmers we'll see you how we can cascade that to 5 million, 10 million
00:05:20farmers, but we're also limited with funding, we don't have all the moneys in the world, i've just done
00:05:24a mathematics for you of 622 trillion so it's very difficult, so i
00:05:28say that to just sort of say the farmers should please give us you know some
00:05:32sort of rope to actually continue to do our work, as i'm speaking to
00:05:36you, i'm not feeling very well because your body shots down working
00:05:40it in hour days, but needed to come here to actually speak to Nigerian farmers to
00:05:44appeal to them to just give the administration some sort of time to start
00:05:48to fix his problems. Food depension was 40%. In the year,
00:05:52Nigeria government has brought it down to 10%,
00:05:5410.84%. So let's see how we can bring it down to
00:05:585% and maybe 1% in coming years. Thank you very
00:06:01much. All right, thank you, and I'm sure the farmers hear you and thank you so
00:06:05much uh for your time and sharing all of
00:06:08that we expectant as
00:06:09I said earlier and we will be following this program. of this
00:06:13program, thank
00:06:15you. All right, now despite growing global economic
00:06:19uncertainty, the director general the World Trade Organization, Dr.
00:06:23Ngokunj Weller says that global trade remains resilient,
00:06:27offering countries like Nigeria, a unique opportunity to
00:06:30dipen reforms and attract investment. She made remarks
00:06:34a symposium hosted by commercial law firm
00:06:38streams s streams
00:06:41sers and horn where business leaders, policymakers, investors
00:06:45examine strategies to strengthen Nigeria's
00:06:48economy and position the country as Africa's leading
00:06:52investment have
00:06:53destination. to
00:06:56if we leading commercial law firms towers and convenient
00:07:00international trade leaders, top business
00:07:03executives, regulators,
00:07:05investors, senior legal practitioners to
00:07:09examine strategies for strengthening Nigeria
00:07:12economy and positioning the country as
00:07:15Africa's leading investment destination, the biggest
00:07:19economics, the symposium, which forms part of activities
00:07:23marking the firm's 20th anniversary is also focusing
00:07:27on practical policy, legal and regulatory solutions
00:07:31aimed at improving Nigeria's investment climate and
00:07:35made increasingly volatile global economic
00:07:38environment, the
00:07:42theme the event is Nigeria's path economic resilience
00:07:46and investment leadership a volatile global environment
00:07:50and organizers discuss on how Nigeria can attract
00:07:54greater investment, strengthen economic resilience and
00:07:58unlock opportunities under the African Continental
00:08:02free trade area. We chose this topic, we will have chosen
00:08:05lot topic, but we said
00:08:09august we are going to Portacot. we talking lot of
00:08:13law, let's talk about something else that we think is there to
00:08:17us, even as lawyers, because trade
00:08:21helps to build breaches between nations, helps to
00:08:25strengthen relationships, and that's why we've chosen the topic
00:08:28Nigeria's part economic team, nigerian part economic
00:08:32resilience and investment leadership a volatile global
00:08:36environment, a fireside chart, director general
00:08:39the world trade organization with the special guest
00:08:43acknowledges the shock over global crisis, but reassures
00:08:47that such hasn't affected world trade. when you are
00:08:50providing services electronically to some
00:08:54customer somewhere, you're trading and
00:08:58it's categorized as digitally delivered services trade,
00:09:02consulting services. it is the fastest growing
00:09:05segment of trade at six, almost 6% per
00:09:08year, and the reason I'm excited about it,
00:09:13is if you look at the type of people who are involved, younger
00:09:16people, women, this
00:09:20provides them the means with which they can trade and reach
00:09:24other parts the world a way that
00:09:28perhaps they were not able to do before. in her
00:09:31remarks, the key note speaker says the current economic
00:09:35reforms are tough, but necessary step to
00:09:39governize the country's economic recovery. there's
00:09:42painful reforms that have been done, but those reforms are
00:09:46necessary to provide the foundation for the
00:09:50resilience that the private sector then needs to build
00:09:53on. Nigeria's rating has already been
00:09:57improved. Nigeria's outlook has been rated as
00:10:00stable, that from sovering perspective now
00:10:04needs to translate into board rooms, where that value
00:10:08is translated to and great returns for governance that the
00:10:12public. that the private sector can then benefit
00:10:15from. the highlights the program is
00:10:18session to discuss how the three founding partners came
00:10:22together to form streamsowers and conne. they emphasizing that
00:10:26while it wasn't a walk in the park, coming together to b what has
00:10:29eventually formed umbrella for many partners, it was a
00:10:33partnership built in trust and
00:10:35determination.
00:10:40all right, let's talk about uh digital health supply
00:10:43innovation and um well reports
00:10:46indicates that um South Africa, Nigeria, Kenya and
00:10:50Egypt, um, they account for about 60% of all
00:10:54health supply. chain innovate innovators are
00:10:57headquartered in Africa with nearly
00:11:00350 innovators identified
00:11:04across the continent, I'm glad Nigeria is mentioned there, but I
00:11:08mean the question is, and so what, what has it done to
00:11:11the economy um a country like Nigeria? We have our Director
00:11:15Supply Chain assaalient advisory Mr.ye right here in the
00:11:19studio, good morning, welcome to the program, good morning, so good to be here with
00:11:23you, good to have you, so numbers are good, Nigeria is part of
00:11:27those controlling 60%, yeah, but then what's the impact?
00:11:31Well, um, we can't, there there's no available data per
00:11:35say, just to see the economic impact, but what we've seen so far,
00:11:38especially in the ecosystems with these countries, first of all, the fact
00:11:42that those innovators are based in on the continent are actually building
00:11:46the solutions on the for the African context, um, we
00:11:50can't apply the same context across uh
00:11:53different. geographic locations across the
00:11:56world, but because they are based here, they build for that
00:12:00context. what we are seeing right now is a 30% reduction
00:12:03in uh the cost of distribution across some these markets
00:12:07average because the innovations that are coming in, and we actually
00:12:11seen a significant impact on the uh
00:12:14impact, the impact of uh counterfits, which which
00:12:18actually cost lot of informations that are dealing with
00:12:22counterfits, exactly
00:12:24we have. mobile mobile tech
00:12:27uh uh serilization uh technologies, we have track and trace technologies are
00:12:31actually uh dealing with the counterfits, because counterfits they feel the
00:12:34pipeline and this this uh uh accounts for significant
00:12:38losses uh for the players in the market, not to talk about uh impacts
00:12:42on our health, exactly uh so we
00:12:46we are starting to study this and this actually is documented in our uh
00:12:50report, AI in health supply chain report where we actually look
00:12:53at all the innovators across board, we looked at 20,
00:12:57we followed about 20 main innovators that are actually working
00:13:01across the supply chain value chain, but you also did say in your report that
00:13:05the 20 are disconnected. okay, so on the
00:13:08disconnection, i think that was referring to the makins report, which
00:13:12was the fragmentation of uh across the
00:13:16value chain, now that report actually previously
00:13:20pointed to nine different supply chains in Nigeria in the healthcare
00:13:23sector,
00:13:24you can imagine the inefficiency that came with that, but now that we have the national
00:13:28supply chain uh uh project, national supply
00:13:32chain integration project uh led by the ministry of health right now, we
00:13:36are seeing that being collapsed into a more efficient
00:13:40uh supply chain across the health sector um uh in Nigeria
00:13:43specifically. what about connecting the continents?
00:13:47well um connecting the continents in what context? mean with the
00:13:51supply chain, yes so we don't as Nigeria
00:14:03countries, exactly, so there are
00:14:05uh there's an initiative being run by the Africa CDC uh
00:14:09to champion local manufacturing across the continent uh
00:14:13you can imagine the impact during the pandemic where
00:14:16we were we didn't have access to uh immediate access to life saving
00:14:20medicines and those interventions uh pointing
00:14:24cases uh pvac right now, the presidential initiative right now that is
00:14:27actually bringing local manufacturing into
00:14:31Nigeria where Nigeria becomes hub uh for
00:14:35WHO certified uh products uh medicines
00:14:38to serve uh our community at lower cost, which
00:14:42is with the partnership with PMG MAN
00:14:46and other players to bring down cost that to ensure
00:14:50that accessibility is not impacted uh across the value
00:14:53chain, so lot of... just taking it back
00:14:57slightly uh to um the healthtech
00:15:00innovations um part of our report on AI and healthtech in in
00:15:04supply chains um actually you can marry it
00:15:07with another report that we did on innovators about 350
00:15:11innovators in uh uh sub saharan africa that
00:15:15actually fixing the entire end to end value chain one
00:15:19they're looking at issues on our demand forecasting, inventory
00:15:22management uh looking at procurement processes to try to
00:15:26simplify and make them more efficient, because again,
00:15:30without these interventions, you're seeing increase costs which
00:15:34lead to increase costs for these medicines. and then
00:15:38it becomes accessibility issue, this is where counterfits usually come
00:15:42in, and um advisor is saying AI has solution to
00:15:46everything uh, the bottlenecks, the
00:15:49disconnection, yes and this 350 innovators are
00:15:52they working together, they are working together,
00:15:55so they not on the platform, they are across uh they
00:15:58they they speak to different the
00:16:02supply chain exactly, specifically our report looks at
00:16:06the end to end value. chain from - from demand from planning
00:16:10uh to sourcing and procurement to manufacturing to distribution and
00:16:14logistics uh to demand forecasting, yes, so on
00:16:18the demand forecasting side uh the solutions we're looking at
00:16:20for example we showcased two um
00:16:24innovators um one in
00:16:26Ethiopia uh one in Kenya in Kenya in supply
00:16:30labs um was actually able to cut down
00:16:34procurement time from about three days to one hour.
00:16:37right um from integrating the their systems and
00:16:41systems and automating their processes um we also
00:16:45have uh another um innovator
00:16:49that we we showcased in Kenya that was in Ethiopia
00:16:52sorry that was uh able to actually take about
00:16:5638 million dollars on procurement spend actually
00:17:00reduce it all of this is private sector drive yeah exactly and
00:17:04not with the government not not public sector and that is
00:17:07where the next discussion goes is how do we bridge this gap,
00:17:11exactly, because you really need the government if you want to do the
00:17:14huge, exactly bring the gap, so impact is usually
00:17:18going to be felt best in the public sector, right?
00:17:22uh, and that is where you know we also, addition to the
00:17:26AI in supply chain, in supply chain report we did, we actually
00:17:30have a program called i3 where we bring innovators
00:17:33and funders to ensure that the innovators are showcased. and have
00:17:37the funding to build their solutions, but what is happening now, what we are seeing is
00:17:41that they're not building for the public sector, they're building for the private
00:17:45sector, and this is where we need the government to actually come
00:17:48have pvak here, exactly, so I think you guys should reach out to pvak, no we are working with
00:17:52pvak, so with that we should
00:17:54be able to bring the public sector, bring them a bit a bit and exactly,
00:17:58we're working across board, all right, thank you so much, director
00:18:02of supply chain atvisory, thank you for your time, thank you so much in, it's my
00:18:06pleasure being here. Let's go
00:18:08global.
00:18:16All right, let's check, get a check now on the global economy, we see SpaceX that delivered
00:18:20a strong second quarter earning report uh, beating Wall Street's revenue
00:18:24expectation posting much smaller than expected loss,
00:18:28but despite impressive growth in Starlink and its AI
00:18:31business uh, investors focus on one
00:18:34thing, soaring capital. spending if you put
00:18:38up uh the data for me now we see the earnings from yesterday that's the
00:18:42q2 earnings uh for spacex uh we see that um
00:18:46it's quite impressive you looking at the revenue the company made all right joining me now
00:18:50is daniel is a senior research analyst
00:18:54at bamboo joins me via zoom great to have you on the show
00:18:58thank you so much for good morning good morning so we see
00:19:01spacex they delivered quite an impressive uh report
00:19:05there you seen their revenue beat uh, but when it comes to
00:19:09that AI spend, uh, we see there's still issue there, they're spending lot on
00:19:13AI, how do you see
00:19:14the the earnings? yes, they are spending lot on
00:19:18AI, so the company reported second quarter earnings of around
00:19:228 billion dollars and we're seeing double digit growth
00:19:26across all their core segments, so space, connectivity and
00:19:30also AI, but then what investors are really paying attention to
00:19:34is the capital expenditure, so the company is guiding to about
00:19:3718 billion dollars this year or so far for
00:19:41KPEX, 15 billion of that going directly towards AI,
00:19:45and then the market sensorment generally is around, okay, when do we
00:19:49begin to see the impact of this spending? the
00:19:53company did still report a loss of around 541 million
00:19:56dollars, so it is still not a profitable company, and the
00:20:00profits that were expecting are not coming anytime soon, so
00:20:04investors are really starting to ask the question that if you're spending billion
00:20:08dollars, 15 billion of that going towards AI, when are we
00:20:12going to see that reflect on the income statement? all right, and
00:20:16we did see um the share price that's for after hours
00:20:19trading uh for spacex that that dropped
00:20:23about um 8%, but it did close in the green, that's for
00:20:26regular um trading hours, that's looking at the the trading uh
00:20:30for spacex, yes it closed
00:20:32$125.33 up about
00:20:3510%, but
00:20:37at after
00:20:38you know the investors read the deeper into the earnings
00:20:42uh post-market trading there it did drop you know what what
00:20:46is that telling us this
00:20:47you know point yeah so it's to... things: so first of
00:20:51all, yes, the stock did rally into the close
00:20:54last night, and that's because
00:20:56you know it's spacex, there was an anticipation that earnings were going to be
00:21:00good, elon musk himself tweeted something to that effect, but then when the
00:21:04financial statements actually dropped and we're seeing the level of
00:21:08spending going towards AI, it's number one, it's concerning, and
00:21:12then with spacex there's another thing you have to look out for and that
00:21:14is the expiry the local period, so
00:21:18typically when a company. goes to IPO, insiders,
00:21:21employees, some early investors, their shares
00:21:25are locked up so they're not allowed to sell immediately after the IPO to the new
00:21:29buyers. now SpaceX did something interesting,
00:21:32so instead of like set period, let's say
00:21:34in November, everybody can sell their shares, they decided to do a
00:21:38stuggard um release, so
00:21:41by tomorrow 20% the total available
00:21:45supply of those shares is going to be unlocked and the market is expecting
00:21:49some se for context, spacex has around 200
00:21:53and maybe 81 million shares available for trading, by
00:21:56tomorrow another 900 million shares are going
00:21:59to be available for trading, and stock prices responds to the law of
00:22:03demand and supply, so if the man stays flat or falls
00:22:07and then we have this supply of new shares unlocked coming into the
00:22:11market, there's an expectation that there's going to be some selling pressure, now
00:22:14whether those early investors and employees and insiders are actually going to
00:22:18sell is up for debate, but the market is expecting that, and
00:22:22because there's that expectation, you know, the price is
00:22:26reflecting that there's anxiety over new shares coming onto the markets
00:22:30and potentially being sold, right? it almost seems like short
00:22:33is the right trade um at this point, but Starly
00:22:37continues to be SpaceX's largest revenue um engine, so it
00:22:41seems uh subscriber growth, that should be
00:22:44important, enterprise adoption to sustaining future
00:22:47earnings, is that what you're seeing? Yes, so that is
00:22:51what we're seeing, so SpaceX, when you break down the different
00:22:55components their revenue, Starling continues to provide
00:22:59more than half the revenue and half the profits, around
00:23:024.2 billion dollars in the quarter, we also saw that
00:23:06subscribers drew almost double, in fact double
00:23:09over the reporting period, so they now have around 12 million
00:23:12subscribers, and then the key part to pay attention to
00:23:16is actually enterprise adoption, because that's where um... they believe
00:23:20that the majority of future revenue is going to come in, the context being that
00:23:24the average revenue per user for Starlink is around
00:23:27666, last year it was around
00:23:3085. now that number has come down because as spacex is
00:23:34trying to grow their subscribers, they are going into other markets and
00:23:38they have to lower their pricing to be competitive in those markets. now we
00:23:42don't see that same dynamic when it comes to the enterprise adoption, they did
00:23:46close a 6 billion dollar contract with the US space force for.
00:23:50customized
00:23:51you know uh satellite network, but also seeing that the
00:23:55reported partnerships with American Airlines with jet blue with
00:23:58southwest and they're also doing partnerships with T-Mobile as well, so they
00:24:02do believe that enterprise adoption is really important and when you even
00:24:06break down the capex spend next to
00:24:09AI,
00:24:10you know space and starling takes you know the bulk the money and
00:24:14everything around how SpaceX is operating their business shows that they do
00:24:18believe that Starlink is going to be continuous driver of revenue, so
00:24:22we see that lot of spending is going towards there even when you think about the
00:24:25rockets as well, everyone understands that spacex is a company that launches
00:24:29rockets, but then they did let's say 38 launches last
00:24:33quarter, 28 of those launches were to put more satellites
00:24:37in orbit, so we do see that there's an understanding within the company
00:24:40that look right, starling is continue being our growth engine and be should
00:24:44you double down on that right, well all eyes on spacex
00:24:48after that mon IPO, thank you so much,
00:24:52uh,
00:24:53um, Daniel Mobalachi, senior research analyst, Bamboo, thank you for comming
00:24:56today, thank you for having me. All right, let's get a check on all the
00:25:00stories now, we see Honda have kicked off its new financial year a strong
00:25:03note, reporting first quarter revenue and profit well ahead of a market
00:25:07expectations, while raising its full-year um earnings outlook, the Japanese
00:25:11automaker posted its first quarterly profit um increase in six quarters
00:25:15driven by strong uh motorcycle sales, improve performance in its
00:25:19automobile. uh business and a weaker yen, despite ongoing challenges
00:25:23in China and a global shift in the electric vehicle market, Honda says it
00:25:27remains confident about the rest the year as it focuses on
00:25:30profitability and a growing hybrid vehicle lineup. Then to
00:25:34farmer now Novo Nordisk, they raised their full-year earnings um outlook
00:25:38after delivering stronger than expected second quarter results, but
00:25:42that wasn't enough to - reassure investors shares the Danish um
00:25:46drug maker fell sharply after sales of its blockbuster weight.
00:25:49pegovi narrowly miss expectations while
00:25:53disappointing clinical trial results for its next generation
00:25:57morbesity treatment uh raised fresh
00:26:00concerns about his competitive uh position
00:26:04against Eli Lily. The results highlights are the growing pressure and the fast
00:26:07expanding global obesity drug market where innovation and
00:26:11execution are becoming just as important as strong
00:26:15earnings.
00:26:15I see Siemens Energy, they've delivered another strong quarter beating analys
00:26:19expectation on both profit and revenue as booming demand for AI
00:26:23data centers and power infrastructure that's fueled um record sales, the
00:26:27German energy technology company reported a sharp rise earnings
00:26:31striving by strong orders for gas turbines
00:26:34and that's what's hot in the global economy, it's back to
00:26:38any,
00:26:45thank you, lady, and just before we head out, we go to the market and see
00:26:48sustained red color in the market this morning, the elsia has dropped
00:26:520.02%, still around
00:26:55244, and uh japal gold is still
00:26:59in the red as well as first all co among oters a little
00:27:03bit of recovery and access holdings, but they not enough to bring it back to
00:27:06where uh it used to be. Airtel Africa
00:27:10is positive this morning as well as Triple G, but you
00:27:13get uh more details and uh highlighted numbers or
00:27:17updated numbers at 1:30 when Lady Williams will be
00:27:21back and that's it for business