Finance

Top 10 Takeaways From Protein Challenge Webinar Series 5

Published

5 years ago

November 16, 2020

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Protein deficiency, the state of the relative or absolute shortage of body proteins or one or more of the essential amino acids, is emerging as a genuine health concern in Nigeria.

To effectively tackle the problem, experts concede that there is an urgent need to explore its true status in Nigeria, examine the possible reasons why it has lingered and then evaluate options for curtailing incidences.

This is precisely what the Protein Challenge Webinar Series 5, themed ‘Protein Deficiency: Bridging The Knowledge Gap’ sought to address. It was a platform to identify strategies to help in alleviating protein deficiency for individuals, families and the nation at large.

The keynoted address was delivered by Professor Henrietta Nkechi Ene-Obong, Nutritionist and Professor of Human Nutrition and Dietetics, University of Calabar. Panelists on the webinar included Dr. Ifeoma Augustina Akeredolu, a member of the Nutrition Society of Nigeria and Chief Lecturer, Department of Nutrition and Dietetics, YabaTech, and Dr. Bimbo Oyedokun, a medical expert and Managing Partner, QuePlus Health Services.

The session was moderated by Mrs Anwuli Ogbonnaya, aka Chef Wulis, healthy food expert and CEO/Founder PartyPartyKitchen.

Here are the Top 10 takeaways from the webinar:

Food is one of the basic needs of life. We all need food to survive. However, the quality of food must be considered. The quality of food is essentially the nutrients in the food. Protein is a nutrient needed by the human body for growth and maintenance. Proteins are essential for good health. Protein food sources are therefore a premium. Many people realise this, that is why they always add protein to their diets.

Protein quality depends on three things:
1. The balance of essential amino acids (complete and incomplete protein)
2. Limiting amino acids and
3. Digestibility: the capacity of the protein to be broken down by the enzymes of the intestinal tract

Everybody needs protein. People with more physiological requirements, like pregnant and lactating mothers and children, need more proteins in their diets. People have to learn how to plan meals, to optimize the available food sources. Quality Information about foods and their nutrient classes must be gotten from nutrition experts and health practitioners. Variety, they say, is the spice of life. So, people need to develop exciting recipes for different food crops, to continually create variety.

Protein deficiency can manifest in different forms; anaemia, micronutrient deficiency, among others. Protein deficiency can lead to other nutrient-related illnesses, like anaemia, beri beri and wasting. Signs and symptoms of protein deficiency include water retention, reddish skin, pale skin, limp hair, fatty liver, etc. Children who have been malnourished are at risk of losing their hair and teeth.

Nutrition education is indeed a very important part of resolving malnutrition. Advocacy and proper implementation of nutrition policies must be done in Nigeria to checkmate protein deficiency. Proper funding must be allocated to ministries, NGOs and health centres nationwide. Breaking the language barriers in the nation can bridge the knowledge gap on protein deficiency. More knowledge needs to be imparted to all members of society through different media channels. Proper nutrition education must be conducted in all localities.

Changing behavioural communications in society can also lessen the burden of malnutrition. Nutrition should be included in the educational curriculum. Children are very good at sharing with parents what they learn. Improving nutrition education in communities and across the rural areas will go a long way to create awareness about protein deficiency.

Empowering health workers in rural communities with appropriate funding and tools will enable them to disseminate nutrition information. Health Care Practitioners in rural areas should also be involved in spreading the gospel of proper nutrition for healthy living. There must be deliberate efforts to create visible impacts against protein deficiency through policies.

Preventive measures are more preferable in tackling protein deficiency and malnutrition. It is crucial to increase our protein intake. Soybeans have been used in the eastern parts of Nigeria, like Nsukka, to better improve staple diets. People afflicted with protein deficiency need to speak with health experts, and not be afraid of the financial costs. Protein deficiency is treatable and preventable. If we follow our food-based dietary guidelines, we would make progress in curtailing protein deficiency

Protein deficiency lingers for many reasons, but largely because of monotonous diets and poor utilization of available food resources. Poverty and low levels of education in the rural areas have caused protein deficiency to linger in Nigeria. Lack of safe water and proper hygiene are also some of the environmental causative factors of protein deficiency. The upheavals in the country, insecurity and the pandemic have also contributed to making protein deficiency remain a national issue.

Protein complementation with plant-based, affordable proteins like soybeans, legumes, will help to reduce the scourge of malnutrition. Other indigenous legumes like the African yam beans, pigeon peas and Bambara are also very rich sources of protein. Cereals have a smaller amount of amino acids (lysine), compared to other leguminous peas and pods. In family meals, it is important to learn to mix carbohydrates with proteins. For example, rice & beans and yam & eggs.

In conclusion, bridging the protein deficiency knowledge gap and providing the capacity to bridge it puts the knowledge into action. Protein deficiency can become a thing of the past when all hands are on deck to address it.

Related Topics:Education Nutrition Protein

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Finance

Personal Finance – ABC of Investing – FBNQuest Asset Management …………….. Continued from series 1

Published

2 years ago

September 14, 2024

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Ability to Take Risk

This is your financial capacity to take risks. It depends on factors such as your income, savings, financial obligations, and investment time horizon. For example, higher income and substantial savings can increase your ability to take risks, high debt levels or significant financial responsibilities (like supporting a family) can reduce your ability to take risks, the longer your investment time frame, the more risk you can typically afford to take, as you have more time to recover from potential losses.

Balancing Willingness and Ability

Effective financial planning involves balancing your willingness and ability to take risks. Here are a few steps to consider: Assess Your Risk Tolerance, Evaluate Your Financial Situation, Diversify Your Investments and Adjust Over Time. Understanding your willingness and ability to take risks helps you make informed investment decisions that align with your financial goals and comfort level.

Liquidity Needs

This refers to how quickly and easily an asset can be converted into cash without significantly affecting its value. Liquidity need is the requirement to have access to cash or easily convertible assets to meet short-term financial obligations or unexpected expenses. While liquid assets offer safety and flexibility, they typically yield lower returns compared to less liquid investments. Balancing your portfolio to meet both liquidity needs, and long-term growth goals is essential. Understanding your liquidity needs ensures you have the right mix of assets to meet both immediate and future financial goals.

The investment duration

This directly influences the investment objective. In essence, the longer the investment horizon, the greater the potential for risk and reward. However, it’s crucial to align the investment duration with the investment objective to achieve financial goals effectively.

Short-term objectives: Investors typically seek investments that offer liquidity and stability. Examples include money market funds, certificates of deposit (CDs), and short-term government bonds.

Medium-term objectives: These investors often balance growth and income. They may consider a mix of stocks, bonds, and mutual funds.

Long-term objectives: Investors with a long-term horizon can tolerate higher risk for potentially higher returns. They may invest in stocks, real estate, and other growth-oriented assets.

Example: A young investor aiming to accumulate wealth for retirement (long-term objective) might invest in stocks, which historically offer higher returns over the long run while an investor nearing retirement seeking steady income (short-term objective) might prefer bonds and dividend-paying stocks.

Understanding Various Investment Vehicle

An investment vehicle is a financial product or account that allows individuals and institutional investors to invest their money with the aim of generating profit or returns. These vehicles come in various forms, each carrying its own risks and rewards. The best investment vehicle for you will depend on your individual circumstances and financial goals. Consulting with a financial advisor can help you make informed decisions. Here are some of the most popular investment vehicles:

Stocks: A type of investment that gives you partial ownership of a publicly traded company. Such ownership entitles you to any dividends that may be paid, and you may experience gains or losses on your holdings over time. Potential for high returns but higher risk. E.g. shares of FBN holdings.
Bonds: A debt instrument, a bond is essentially a loan that you are giving to a governmental entity or a company in exchange for a pre-set interest rate. Typically, the bond pays periodic interest (coupon payments) during its term, and it matures on a specific date. Steady income but moderate risk.
Mutual Funds: An investment vehicle that allows you to invest your money in a professionally managed portfolio of assets that, depending on the specific fund, could contain a variety of stocks, bonds, or other investments. E.g. FBN Money Market Fund.
Exchange-Traded Funds (ETFs): Like mutual funds but traded on stock exchanges, offering more flexibility and potentially lower costs.
Real Estate: Investing in physical property, such as houses, apartments, or commercial buildings.
Derivatives: Financial contracts based on an underlying asset (e.g., options, futures). This is also a high-risk investment.
Commodities: Physical assets like gold, oil, or agricultural products.

Other consideration when choosing an investment vehicle

Diversification benefit Fees and expenses Reputation of the Financial Advisor

Stay Informed & Continuous learning (A way to take ownership of your finances)

Certainly, improving your financial literacy is a valuable endeavour that can empower you to make informed decisions and better manage your personal finances. Remember, continuous learning is key to improving your financial literacy. Here are some effective ways to enhance your financial knowledge:

Read Books and Magazines Visit Financial Websites
Attend Local Presentations/Webinar Seek Expert Advice

Common Investment Mistakes

Here we highlight the past mistakes people have made while making an investment decision. The aim is to prevent us from doing same and better equip ourselves to make better investment decisions. Investing is a journey, and learning from missteps can lead to better outcomes.

Not setting financial goals Not diversifying
Not learning from your mistakes Not doing your research

In conclusion, monitoring and reassessment are crucial components of successful personal finance management. It is not just enough to execute the actions above; it is important to imbibe the culture of discipline to achieve your financial objectives.

Remember, the journey to financial well-being is a marathon, not a sprint. Stay committed, stay informed, and your future self will thank you.

Finance

The Alternative Bank Debuts with Spectacular Multi-City Launch

Published

3 years ago

October 16, 2023

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L-R: Chairman, The Alternative Bank, MUHTAR BAKARE; Executive Chairman Stratevium Nigeria LTD, DR. PRISCA NDU; Head of Product Omnibiz, ZAINAB ARILESERE and CEO, The Alternative Bank:, HASSAN YUSUF during the launch of The Alternative Bank in Lagos recently.

The Alternative Bank, Nigeria’s newest entrant into the financial services sector, launched in spectacular fashion by holding simultaneous launch events in three major cities across the country – Lagos, Abuja, and Kano, making it the first synchronized multi-city brand launch in Nigeria’s history. The Alternative Bank is the ethical banking subsidiary of Sterling Financial Holdings.
Speaking from Lagos, Managing Director of The Alternative Bank, Hassan Yusuf, said, “We believe that banking should be a platform for shared prosperity, where everyone benefits. And this explains why we refer to our customers as partners, because we believe we are on a journey of wealth creation where profits are shared, and customers are provided with funds without incurring interest charges.”
Speaking at the launch event in Abuja, Executive Director of The Alternative Bank, Garba Mohammed, said “The Alternative Bank is here to create wealth-for-all in a sustainable way, by doing things differently and taking a different model to partnering with its customers.”
The launch events featured the presentation of digital products to attendees, designed to bring more people into the formal financial sector with an albeit unconventional approach to e-commerce, investments, assets financing, and renewable energy with solutions such as AltMall for e-commerce, AltInvest for ethical retail investments, AltPower for affordable renewable energy solutions, AltDrive for new and pre-owned vehicle financing, and WasteBanc for the monetization recyclable waste.
In recognition of the unique financial needs of individuals and businesses, The Alternative Bank offers personalized financial consultations, tailored solutions, and one-on-one guidance towards ensuring that customers achieve their financial goals. The zero-interest banking principle is dedicated to fostering sustainable practices, responsible investments and financial decisions that contribute to positive social and environmental impacts.
The Alternative Bank also recently launched an innovation in retail investments with the first AltCoin which affords investors the opportunity to preserve and grow their wealth by investing in gold.
The Alternative Bank started in 2014 as Sterling Alternative Finance, after the Central Bank of Nigeria licensed then Sterling Bank Plc to operate a non-interest banking business and has since grown to become one of the largest ethical banks in Nigeria’s non-interest banking sector.
With the recent completion of Sterling’s transition to a full-fledged financial holdings company, The Alternative Bank will operate as the non-interest banking subsidiary of the Group, while Sterling Bank Limited will continue to provide conventional banking services.

Finance

UBA To Empower KDs, SMEs On Wealth Management

Published

3 years ago

October 12, 2023

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Africa’s Global Bank, United Bank for Africa (UBA) Plc, is set to organise another edition of the UBA Business Series. This is in line with the bank’s commitment to support the growth of micro, small, and medium-scale enterprises by equipping them with the requisite tools to strengthen and sustain their businesses.

The UBA Business Series is a regular seminar/workshop organised by the bank as one of its capacity-building initiatives, where leading business leaders and professionals share well-researched insights on relevant topics and best practices for running successful businesses, especially in the face of difficult business challenges.

This edition, which is powered by the UBA Value Chain Banking, will look at the topic ‘Personal Finance: Wealth Management in Today’s Economy’ and is specifically targeted at key distributors and small and medium-sized business owners. It will be held on Thursday, October 12, 2023, from 12 p.m. at the Tony Elumelu Amphitheatre, UBA House, Marina, Lagos, whilst online participants can also access the session on Zoom via https://bit.ly/UBABIZSERIES

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The CEO and Executive Editor, of Frontier Africa Reports and eminent television host, Boason Omofaye; Managing Director/CEO, of United Capital Asset Management Plc, Odiri Oginni CFA and Recording Artist and CEO/Founder of Mova Networks, Akitoye ‘Ajebutter22’ Balogun, will be on the ground to give helpful tips on wealth management in today’s economy to business leaders. They will also provide guides on the best ways to take businesses to the next level in challenging economic terrain.

UBA’s Head, SME Banking, Babatunde Ajayi said:

“The vast knowledge and experience of the panellists, will help business owners understand the importance of personal finance, wealth management, and most importantly how to navigate the frailties of the harsh economy to ensure business growth.”

“We know small businesses are the backbone of the economy in every country that is why at UBA, we constantly look for ways of ensuring that these business owners and operators are well-equipped to grow their businesses successfully.”

Recently, UBA announced an initiative aimed at providing robust and comprehensive financing solutions to support and boost the activities of SMEs across the African continent, where SMEs will have the opportunity to access financing in the key sectors of Agro-processing, Pharmaceuticals, Automotive, and Transport and Logistics.

The financing initiative is powered by UBA’s recent partnership with the African Continental Free Trade Area (AfCFTA) secretariat to provide financing for up to $6 billion over the next three years to eligible SMEs across Africa, an agreement which was signed on the sidelines of the 30th Afreximbank Annual Meeting (AAM) which was held in Accra, Ghana earlier in the year.

UBA is a leading pan-African financial institution, offering banking services to more than thirty-seven million customers across 1,000 business offices and customer touch points in 20 African countries.

With a presence in New York, London, Paris, the Cayman Islands, and now the UAE, UBA is connecting people and businesses across Africa through retail, commercial, and corporate banking, innovative cross-border payments and remittances, trade finance, and ancillary banking services.