This is what third-party distribution model means. GSK will sell its product to a distributor in Nigeria who will be responsible for importing, clearing, and distribution of its products.
GSK completes its sales transaction in the UK, and it is not bothered with FX sourcing, inefficient port, or dealings with government agencies.
What do you think led to this change in strategy?
The local struggles businesses face.
It's tough getting FX to import. If you are lucky or connected,you get about 15% of your FX needs from the official market and 85% from the parallel market. That's tough.
What of the issues with clearing at the port? What about issues dealing with government agencies?
Why will a company leave or change strategy if the business is growing? In dollar terms, the businesses of these multinational firms are shrinking, and it is no longer worth all the risks and uncertainties.
If we don't proactively implement policies that are pro business, more multinationals will leave.
Shoprite, Game, Mr Price, HSBC have all left. Unilever is cutting down production.
You should cringe when next you hear about a multinational leaving Nigeria or Africa as a whole.
I was pleased to join 17th Edition of the Think Young Coding School @ThinkYoungNGO a program supported by @Boeing to expose young people to coding: website development and programming of robots & drones. This is a good foundation for digital skills and future work @MoICTKenya
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Instead, the continent is pressured to further reduce emissions and phase down coal. Although the wealthy nations in 2009 pledged $100 billion annually to climate financing for developing nations, it was revealed in COP26 that the commitment remains unfulfilled.
Kenya ICT Ecosystem Stakeholders (KIES) have termed the ICT Bill as unconstitutional, lacking in purpose, and bad for the country's economy.
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