Aella: Creating Solutions to Africa’s Problems With Credit

LAGOS, Nigeria, April 26, 2022 (GLOBE NEWSWIRE) — Creating solutions tailored to African problems is crucial in addressing the financial wellness of the continent. The peculiarity of the life patterns of the average African begs one to intentionally design and build mechanisms, to tackle financial illiteracy in the underserved communities. Aella has seized the opportunity to develop solutions to such problems by designing a Debt-as-a-Service model in Nigeria.

With over 300,000 agent clusters, Aella has built a nerve centre to empower businesses with credit infrastructure and business capital. Being one of the foremost micro-business lenders, they have continuously built with initiative and provided software and capital that allows individuals become lenders in minutes. This Debt-as-a-service model is powered by Aella’s finance mechanism using decentralized finance.

Aella’s partnership with Nomba, formerly known as Kudi: an agency bank in Nigeria is the first official lending partnership that highlights Aella’s role as a credit aggregator for agents. Consequently, building more products for them and integrating them into their ecosystem. Nomba has expanded its business by leveraging Aella’s credit infrastructure. In six months, Aella has disbursed over $30 million to Nomba agents hitting a milestone.

Another agency lending initiative birthed from Aella’s Debt-as-a-service model designed to boost Nigeria’s lending ecosystem is its partnership with CrowdForce, a technology-driven agent distribution network. This partnership will see Aella facilitate agents’ access to digital financial services for the largely offline population across the country by offering credit. In turn, Aella’s credit infrastructure provides over 60,000 agents with funds to scale their businesses.

Ultimately, Aella’s credit infrastructure operates in two ways; through asset financing and the debt as a service model. One of Aella’s most innovative partnerships is definitely its multimillion-dollar power financing collaboration with Buy Power, a utility payment platform to ease the process of buying electricity for Nigerian residents. Aella’s commitment to financial empowerment will enable Nigerians access power, through its diversifying credit solutions for over 6 million customers across the country with Buy Power. This integration will utilize Aella’s comprehensive technology platform to provide consumers with the opportunity to buy electricity on credit.

These partnerships are crucial to the overall development of the Nigerian economy and at large the African continent. Aella is introducing cost-effective ways for all classes of Nigerians to access credit. Ready access to credit is key to promoting financial freedom and inclusion, particularly among the underbanked population.

Contact: support@aellacredit.com

Seegene unveils world’s first commercialized ‘3 Ct’ PCR assay

  • Provides Ct value of three targets in one channel; ‘3 Ct’ PCR assay to launch in H1
  • “Dream MDx technology” developed based on Seegene’s 20-year expertise; combines 19 different patented technologies, including DPO™, TOCE™, MuDT™
  • ‘3 Ct’ to lay foundation for automated syndromic testing and make MDx more accessible

SEOUL, South Korea, April 26, 2022 /PRNewswire/ — Seegene Inc. (KQ096530), South Korea’s leading molecular diagnostics (MDx) company, today announced the development of the world’s first commercialized PCR assay applying ‘3 Ct’ technology. The ‘Allplex™ HPV HR Detection’ was showcased at the 2022 European Congress of Clinical Microbiology and Infectious Diseases (ECCMID) held April 23-26 in Lisbon, Portugal.

[Figure 1] Seegene unveils world's first commercialized '3 Ct' PCR assay

In a polymerase chain reaction (PCR), the cycle threshold (Ct) value is used to quantify the concentration of a viral DNA sequence (the target). Due to technological limitations, the conventional real-time PCR technique finds the Ct value of one target in one channel.

But Seegene’s ‘3 Ct’ technology can provide the Ct value of three targets in one channel without compromising sensitivity and specificity. The successful development is based on Seegene’s 20-year expertise and combines 19 different patented technologies, including DPO™, TOCE™, and MuDT™. Using five channels in a single tube, Seegene can provide quantitative data for a total of 15 targets. ‘3 Ct’ has been dubbed the “dream MDx technology.”

The company plans to apply ‘3 Ct’ technology to its entire product line-up, including respiratory virus (RV), sexually transmitted infection (STI), gastrointestinal infection (GI), and urinary tract infection (UTI) assays. Seegene expects ‘3 Ct’ technology to take syndromic testing to another level. By detecting the causative pathogen, level of infection, and potential of co-infection, it will help determine the priority of treatment and enhance patient management. ‘3 Ct’ technology also increases testing capacity. Such features are expected to improve the service and cost-structure of the medical sector once ‘3 Ct’ technology is widely utilized.

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Seegene’s first ‘3 Ct’ technology applied product, Allplex™ HPV HR Detection, is designed to detect 14 high-risk human papillomavirus (HPV) types that can cause cervical cancer (See figure 1). It also provides the individual Ct value of each of the types allowing quantitative analysis regarding infection level. Early detection of HPV contributes to the prevention and management of cervical cancer. HPV products from other industry players provide individual Ct values for two high-risk types, HPV 16 and 18.

The Allplex™ HPV HR Detection, planned to be launched within the first half of this year, will come with a significant cost advantage compared to existing HPV products to increase accessibility to PCR testing, which had been difficult previously due to high costs. The product will also be compatible with Seegene’s fully automated AIOS (all-in-one system). The company plans to introduce the industry’s first ‘fully automated, mass, syndromic testing system,’ to lay the foundation for testing anywhere, including large hospitals, C-Labs, and even small and medium-sized clinics, and make PCR testing part of everyday life.

“HPV genotyping is essential for a good follow-up of a patient to observe the emergence, persistence or clearance of each genotype,” says HPV expert Sebastien Hantz, Professor at the Faculty of Medicine at the University of Limoges in France. “Seegene is a company very involved in the development of molecular diagnostics tests for the detection of different pathogens. For certain clinical situations, like respiratory infections, syndromic testing is very useful.”

Photo – https://mma.prnewswire.com/media/1804637/image_1.jpg
Logo – https://mma.prnewswire.com/media/1357790/Seegene_logo_Logo.jpg

Open Society Condemns Travesty of Justice in Kavala Verdict

New York, April 25, 2022 (GLOBE NEWSWIRE) — The Open Society Foundations are appalled by today’s Turkish court decision to sentence Osman Kavala—the business leader and philanthropist—to life in prison, even though no credible evidence was ever presented to substantiate the baseless charges against him.

“Today a Turkish judge ruled against Osman Kavala even though there is not a shred of legitimate evidence against him,” said Mark Malloch-Brown, the president of the Open Society Foundations. “This bogus trial has utterly failed to meet the most basic standards for fairness and procedural justice.”

The court in Istanbul also sentenced seven other defendants to 18 years in prison each. The cases against these defendants were also without any merit.

Osman Kavala was first arrested and detained in October 2017. The government has held him, without conviction prior to today, for more than four years.

During that time, Turkish prosecutors have bent over backwards to try to keep Kavala in prison, even having him re-arrested in February 2020, after a previous trial ended with him being briefly released.

“This is not about justice,” added Malloch-Brown. “It is about trying to intimidate and silence anyone who might speak up in defense of human rights in Turkey, including all independent civil society groups.”

In December 2019, the European Court of Human Rights (ECHR) ruled that Kavala’s detention was unjustified, and that the case against him was designed to silence him and to dissuade other human rights defenders from speaking out.

Turkey has so far defied the ECHR ruling.

Kavala is an established businessman and philanthropist, known for his support of human rights, the arts, and culture in Turkey. He also served as a board member with Open Society’s foundation in Turkey. (Open Society Turkey shut its doors in 2018 due to harassment from the Turkish government.)

Kavala is expected to appeal the court ruling.

“It is long past time to end this legal farce,” added Malloch-Brown. “Osman Kavala should be released and his name cleared immediately.”

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Price of Bread Up 100% in Zimbabwe Since Russia Invaded Ukraine

One of the citizens feeling the pinch of rising prices in Zimbabwe is Christine Kayumba. She says she can’t afford to buy bread for her four dependents on her salary of less than $250 a month — because a loaf now costs more than $2.

The high school English teacher says she cooks a bland, thin porridge three times a day, and rarely serves rice as it is now expensive too.

“This price increase of bread has reduced me to nothing,” she told VOA. “I don’t feel I am still the mother figure, the bread winner for my family. Because I am failing to provide, each and every morning they wake up crying for porridge, crying for bread.”

Russia’s invasion of Ukraine, one of the world’s largest exporters of wheat, has led to bread prices soaring in importing countries like Zimbabwe. Most impacted are children, said Kayumba, as shortage means they are forced to seek food elsewhere.

“You see bread is something with these children. They want it. Even from next doors, if they see them [neighbors] drinking tea, they will eat there.”

Tafadzwa Musarara is the chairman of the Grain Millers Association of Zimbabwe, which imports grain. He said the Russia-Ukraine conflict is the main cause for the price hike.

“As early as November last year, we were unable to load wheat from that region because political tensions had gone high, and insurers revoked their coverages. This is a supplier who was supplying us with good wheat, accounting for 65% of the wheat that we need.”

Musarara said the impact of the crisis in Ukraine was immediately felt in Zimbabwe. “Suddenly we woke up without that supply… the inflation on the price of bread, the increase on the price of bread is an imported factor.”

Musarara added that a consignment of Zimbabwe’s wheat has been stuck in the embattled Ukrainian city of Mariupol for weeks now. He added that the war is pushing people to look for ways to meet the need in the country. “Now we are making our efforts to see how we can get [it] from other countries. [In] Australia, there is the issue of floods, which affected their agriculture. We are now pushing towards getting wheat from Canada and other countries.”

Andrew Matibiri is the CEO of Zimbabwe Agricultural Society, a group responsible for promoting agricultural development in the country. He said the current wheat shortage the country is facing can also serve as an opportunity.

“This is an opportune time for our farmers to produce more, for the government and the private sector to work together, hand in hand, to support farmers who want to go into wheat production,” Matibiri said. “And thank God! We have been having some late rainfalls, which have been helping land preparations. So, all in all, the future of wheat production in this country is good.”

Matibiri said he has confidence in his country’s capacity to face the challenge. “We have shown that we can produce enough for our needs and to produce even more so that we can export to neighboring countries and others who are in need of wheat.”

For Kayumba, that would certainly be good news since she can’t afford to buy bread for her family as it is currently double the price it used to be.

Source: Voice of America

Lack of Rains in Horn of Africa Affects 20 million

The U.S. government is giving an additional $200 million to support humanitarian initiatives in Ethiopia, Kenya and Somalia, where more than 20 million people are in need of food, water and medicine. Lack of rain in the region has led to the driest conditions in 40 years.

Speaking online to journalists, Sarah Charles of the U.S. Agency for International Development outlined how drought has impacted the lives of millions in the Horn of Africa.

“The frequency and severity of drought in the region and the scale of humanitarian needs are increasing, exposing the devastating trend of climate change that disproportionately affects the world’s poorest communities. Already 1.5 million livestock has died, and crops are non-existent in affected areas. In some areas, including Kenya and southern and south-eastern Ethiopia, conflict has broken out over scarce resources. An alarming number of children are acutely malnourished and we are also seeing a devastating report from Somalia of young girls being forced to marry in exchange for food and water,” she said.

Charles said Tuesday the U.S. government is providing another $200 million to help get food and medical supplies to millions in the region. The aid will boost U.S. government aid for drought victims to more than $360 million this year.

However, that number is just a fraction of the funding needed. U.N. humanitarian agencies say they will need $4.4 billion to fully scale up their relief efforts in the region.

According to the U.N. Office for the Coordination of Humanitarian Affairs, more than six million people in the Horn are feeling the impact of the drought. It says more than 750,000 have left their homes in search of water, food and pasture. Some 3 million people are internally displaced in Somalia alone.

In even more dire news, U.N. aid chief Martin Griffiths said 2 million children in the Horn are at risk of starving to death.

Aid agencies trying to help hungry people in northern Ethiopia have been hampered by the region’s volatile security situation. Charles said the problem is especially acute in the Tigray region.

“We are facing in Tigray almost unprecedented challenges with access obstruction in terms of bureaucratic obstruction, conflict, violence, difficulty reaching those who are most in need of assistance. And we have seen over the last two weeks a small convoy of assistance, the latest one yesterday reached Mekele for the first time in several months,” she said.

A poor start to the rainy season has heightened fears the drought and its impact in the Horn will get worse.

Humanitarian agencies say that even if good rains arrive, they cannot quickly reverse the suffering the drought has caused to millions.

Source: Voice of America