The Kenyan economy has been plummeting in the recent past and businesses have been struggling to make profits in various sectors.
However, the pharmaceutical industry has a chance to go around the hard economic past thanks to the entry of Shelf Life. The company, which acts as an intermediary between the supplier and the local pharmacy, takes in all the risks that are brought about by the terrible economic climate currently experienced in the country.
Working with Field Intelligence, a software company, Shelf Life does research about the market and makes the decision of which drugs to put on the shelves to avoid losses. In an interview with Business Today, Field Intelligence CEO Michael Moreland said that pharmacies that have agreed to partner with Shelf Life have already reaped off the benefits of it.
“The challenges that the Kenyan economy has had have made Shelf Life a really great entrant to the market because we take that risk off the entrepreneur. We are also investing new cash into the system and it stays in the system,” Moreland noted.
Acting as the supplier of drugs to pharmacies, Shelf Life also provides financing to the pharmacies that lack funds to bring in new stock. The company supplies the stock for free and lets the pharmacy pay once they have made the sale of the stock provided. Unlike other loans, Shelf Life’s financing does not have any interests attached to it.
“When you subscribe to the Shelf Life service, we give you the stock at no cost which is similar to giving you money. The pharmacy will only pay back once they have sold all the products supplied,” Shelf Life lead pharmacist, Ajiffa Victor Labor, told Business Today.
However, before Shelf Life supports any local pharmacy, they would have to look at the legitimacy of the business. The credit score of the directors or the top executives of the business is also looked into.
The company itself was first started in Nigeria and has been in the West African country for about 4 years now. According to Moreland, Field Intelligence CEO, Shelf Life debuted in Nigeria when the country’s economy was in recession. Moreland believes that Shelf Life can help pharmacies which are facing the hard economic times make a profit.
Taking in The Risk
Having the tools to predict and manage risks, Shelf Life also acts as a risk-insulator for local pharmacies. The company knows the amount of product needed in the market at a specific time and therefore avoids loss of value in items due to expiry.
“We manage the entirety of the supply chain. We do all the procurement and logistics. We own the stock until its sold so we keep all the inventory risks. If something expires we take that loss,” Moreland explained.
Pharmacies who take in stock on credit will only pay for the goods that are sold. If ant products expire before they are sold by the local pharmacy, then Shelf Life will also take in that risk. A software developed by Field Intelligence helps Shelf Life manage the losses incurred and avoid risks too.
When asked if the same software can be used in other industries in Kenya, Moreland said they have thought about it but it’s not likely to happen anytime soon.
Singer speaks after attacking lover at WCB signee Zuchu’s star-studded concert
56 minutes ago
On 18 July, there was fanfare at the Mlimani City Hall in Dar es Salaam as WCB signee Zuchu held a thanksgiving concert months after her debut EP, I Am Zuchu. The event dubbed ‘Ahsante Nashukuru’ mainly featured performances by artistes from the WCB stable and attracted the whos-who in the Tanzanian entertainment and political scenes.
However, singer Gigy Money who also performed made the headlines for the wrong reasons after getting into a scuffle with her lover during the much-publicised concert.
READ ALSO: I was bewitched by a friend – Gigy Money
Peaceful arrival, later chaos
Moments earlier, Gigy and her Nigerian man were seen arriving arm in arm at the event whose highlight featured Zuchu receiving a brand new car from WCB head honcho Diamond Platnumz. Donning matching outfits, the couple was spotted on the red carpet as the paparazzi scrambled to capture the moment. However, all hell breaks loose later and viral videos depict the visibly angered Nigerian arguing with a bouncer at the entrance. After a tense confrontation, Gigy’s man is seen being led by the screaming bouncer towards the exit. Shortly after, a similarly irritated Gigy emerges and follows the pair.
“Gigy! Wewe Gigy wewe!” a woman in the background is heard dissuading the singer from pursuing them but the singer pays no heed and heads for the pair.
“You want to beat me?” the boyfriend is heard asking an approaching Gigy as the bouncer acts as a barrier between them. The bouncer manages to steer the incensed man towards the exit as Gigy follows behind, hurling obscenities.
At some point, a barefoot Gigy turns into a sprint before throwing one of her shoes which hits the man who then responds with an insult. Another bouncer finally intervenes and the two are separated. Gigy then asks for her vehicle so she can head home before warning the press against sharing videos of the incident.
Though the cause of their tiff is still unknown Gigy later made reference to the shocking incident in a social media post, hinting that alcohol had a part to play in the fracas. In another post, Gigy shared a photo alongside her estranged lover writing: “My mad man looked handsome before his demons arose and mine arose too.”
‘Running over Ali Kiba’
Gigy is not new controversy and recently said she’d run over her ex, singer Ali Kiba for breaking her heart.
“I will knock all of them down, I mean I will kill them. In fact, I will flatten them like chapatis. The first person I will knock down and kill is Ali Kiba. Actually, I don’t need a weak car, I need a Fuso so that when I knock him down I will be sure he doesn’t survive,” Gigy told Ayo TV.
Dating Kiba brothers
Gigy had in the past admitted to dating both Ali Kiba and his younger brother, Abdu Kiba. She solely laid the blame on Chekecha singer for pursuing her despite knowing that she’d been with his younger brother. Abdu expressed being heartbroken after learning the two had a fling, prompting him to marry.
“I was very hurt on hearing that Ali was dating Gigy Money because I dated her first before she became famous. But it’s alleged that Ali didn’t know. It hurt me for a while till when I married,” said Abdu.
Defunct Nairobi County Council Nurses Go On Strike, Citing Discrimination By The Government
Why Jahmby Kokai is happy her TV anchor dream never came true
37 minutes ago
Popular media personality Jahmby Koikai narrated how her first attempt at auditioning as a TV host backfired and she was sent home on the first day of the audition. Reliving her prime days, Jahmby narrated how she was determined to follow her dream of becoming a news anchor after completing her degree.
“There was a reality show that was running on one major TV channel here in Kenya, searching for the next top news anchor. I’ve always had the knack for news. At the time, I was working at Metro FM. Walked to my boss and asked him if he was ok with me participating in this competition. He agreed to it.
“Auditions were at Film Studios. The queue stretched all the way to the showground. I was at the back kabisa. Imagine 300 people before you. Then we got the briefing paper and it indicated, ‘no persons with experience in a media house allowed to participate in this audition’. Mimi Jahmby Koikai, nirudi home after watu 300 kukuwa mbele yangu?” she posed.
According to the endometriosis survivor, she went ahead to audition for the position despite the warning and was the first contestant to be sent packing.
“So I stayed in line until I got to the audition room. The judges were a few people I was in campus with. I felt a wave of despair. Like I’m here auditioning, yet my classmates will be judging me? I did my thing and I was considered. We got into the house and we were assigned to different groups. I was the group leader and we won the challenge. Later that evening, we were driven back to Film Studios for a briefing. The presenter of the show said some of us have to go home.
“My name was called out first amongst other great people. We were dropped home. I cried. It felt like I’d lost such a great opportunity. My mom and late grandma were so sad cos they loved to watch me do the news,” she narrated.
Later, Jahmby auditioned for another TV opportunity only to miss out as well.
“Then came another opportunity over 10 years ago, I saw a TV ad and decided to apply for the news anchor position. I didn’t get the job.”
However, due to endometriosis, Jahmby was forced to put her dreams on hold and concentrate on getting better. According to her, it is as though God had better plans for her and is grateful to not have gotten the jobs.
“I battled severe endometriosis in silence for over 19 years. I think of how engaging the newsroom is and I’m grateful I wasn’t in that space. I’d have utilized all my sick-leaves and off-days and just declared redundant.”
There was a reality show that was running on one major TV channel here in Kenya, searching for the next top news anchor. I’ve always had the knack for news. At the time, I was working at Metro Fm. Walked to my boss and asked him if he was ok with me participating in this competition. He agreed to it. Auditions were at Film Studios. The queue stretched all the way to the showground. I was at the back kabisa. Imagine 300 people before you. Then we got the briefing paper and it indicated, ‘no persons with experience in a media house allowed to participate in this audition’. Mimi Jahmby Koikai, nirudi home after watu 300 kukuwa mbele yangu? Nikasema zi. So I stayed in line until I got to the audition room. The judges were a few people I was in campus with. I felt a wave of despair. Like I’m here auditioning, yet my classmates will be judging me? I did my thing and I was considered. We got into the house and we were assigned to different groups. I was the group leader and we won the challenge. Later that evening, we were driven back to Film Studios for a briefing. The presenter of the show said, some of us have to go home. My name was called out first amongst other great people. We were dropped home. I cried. It felt like I’d lost such a great opportunity. My mom and late grandma were so sad cos they loved to watch me do the news. Then came another opportunity over 10years ago, I saw a TV ad and decided to apply for the news anchor position. As you see in this pic, I got my hair done at Ralph’s Hair Salon, new suit etc. I didn’t get the job. After KBC, I never got to anchor the news again. I’m grateful I did not get the job even though I felt dejected at the time. I battled severe Endometriosis in silence for over 19years. I think of how engaging the newsroom is and I’m grateful I wasn’t in that space. I’d have utilised all my sick-leaves and off-days and just declared redundant. There are many people like me who are bound by chronic illness and cannot do the things they love. I share your pain. But there’s hope. I’m grateful to God for His reminder that He will restore to you all the years that the locusts have eaten. Also Jer 29:11