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Nepalis are no strangers to back aches. Yet seldom do they seek effective remedy before it is late and the innocuous aches morph into serious concerns. Nor does their attention go to preventing any such pain in the first place, by maintaining the right sitting posture for instance.  

Aziz Shrestha, 38, owner of BackJoy Nepal, was a victim of this ingrained habit. Shrestha suffered from a back issue as the second vertebrae of his spine wasn’t producing enough fluid for smooth spinal functioning. As a result, he found it hard to sit still for long. Physiotherapy helped him only a bit and he soon found himself scouring the market for products to help him. But he didn’t find any.

Then, during one of his trips to Thailand, a friend of his introduced him to SitSmart, an innovative American “sitting device”. SitSmart pushes the body to a mechanically correct posture by activating core muscles, tilting the pelvis forward, and allowing your spine to obtain the natural S-curve that relieves back pain. It supports your gluteus in a way that isn’t invasive and lowers the pressure on your tailbone.

It is designed specially to ease the pain of those with lower back aches and slouching issues; the product prevents spinal pressure and signals your body to sit up straight.

When he tried it, SitSmart took the pain off Shrestha’s back. On returning to Nepal, he realized how most Nepalis were unaware of a fairly affordable device that could prevent unnecessary suffering. Shrestha, together with his wife, Sadichhya, 33, espied a business opportunity and took the plunge.

They officially launched BackJoy Nepal at the end of 2019 and even opened a store for it. Business had just started trickling in when the Covid-19 pandemic hit. “During the first lockdown, our store was completely shut,” he tells ApEx.

The company then decided to go online, and Instagram and Facebook pages became their main medium for marketing and advertising. The devices were also made available on Daraz. Their products include SitzRight Seat Cushion, Inflight Neck Pillow, Perfect Fit Lumbar Support, Trigger Point Relief, Adjustable Massage Balls, FeelGood Kneeler, StandRight Comfort Shoes, and the aforementioned bestseller SitSmart.

Sales of SitSmart were fairly smooth even during the lockdown. As many were spending hours working on a desk inside their homes, complaining of body aches as they had no place to go except to the other room, the company advertised SitSmart as a work-from-home essential.  

In Shrestha’s experience, customers usually buy BackJoy’s SitSmart products for family members, mostly parents and grandparents who suffer from back pain. However, due to the device’s versatility and functionality, it isn’t just useful for the elderly or the sick. According to the company’s official website, SitSmart doesn’t just help with lower back pain, but also with back injuries, herniated discs, degenerated discs, compressed discs, hip injuries, neck/cervical pain, and sciatica, among other disorders. Effective for anyone between 55-135 kg, office workers also use it to instill correct posture habits and prevent future back issues. 

BackJoy Nepal’s products start at Rs 2,000. The SitSmart products vary in price, in line with their usefulness and material used. The venture offers four different kinds: Posture Core, Core Traction, Posture Plus, and SitzRight. The cheapest starts at Rs 4,500 while the most expensive one will set you back by Rs 7,500.

As these aren’t the things every Nepali household can buy for every family member and as they are usually bought one at a time, Shrestha wanted to make sure that people knew what they’re investing in. This is why BackJoy Nepal is also sending out SitSmart samples to potential customers before they purchase the product.

“Everyone who has approached us for samples has ended up buying,” Shrestha says. “There were a few who came back to return them—but it was so they could get a better version of SitSmart, and not for a refund.”

Samples and bought goods are delivered after orders from Instagram and Daraz. BackJoy Nepal’s products are directly shipped from Singapore, where BackJoy’s Asian headquarters are located, and prices of all products are consistent with prices across Asia.

So far, the biggest contributor to business has been through word-of-mouth recommendations. However, BackJoy Nepal is set to expand its clientele and the owner is in talks with popular malls around Kathmandu to set up shops.

“If things go as planned, more Nepalis can easily access these chiropractors and experts- approved products,” Shrestha says. 

The controversy over Nepal Bangladesh Bank’s land purchase has resurfaced. Some of the bank’s board members are indignant after the Chief Executive Officer secretly wrote back on the matter to Nepal Rastra Bank. 

Apparently, CEO Gyanendra Prasad Dhungana had on June 21 sent a reply to NRB without informing the Board of Directors. In its earlier letter, NRB had asked for an explanation on the irregularities in the purchase of seven ropanis and nine annas (approx. 0.95 acres) of land for the construction of the bank’s central office in the residential area of ​​Bishal Nagar.

The letter states that the Nepal Bangladesh Bank Directors Sarwar Hussain and Deepak Karki, who were in the committee formed for the land purchase, failed to complete due process. The committee is accused of pricing the Bishal Nagar property, whose value is no more than Rs 3 million an anna, at Rs 7.8 million an anna, which comes to Rs 600 million more in payment. 

The central bank’s Department of Banks and Financial Institutions Supervision had asked those alleged to be present at the department within three days of receiving the letter with an explanation. 

In response, CEO Dhungana sent a ‘secret’ reply, angering the bank’s investors. An investor named Yogeshwor Mali had filed a report with both the NRB and the Commission for the Investigation of Abuse of Authority (CIAA) in April 2019 alleging gross irregularities. The complaint also mentions that it would be against the NRB directive to purchase properties amounting to more than 25 percent of total capital. According to the bank’s promoters, CEO Dhungana has sent arbitrary answers to NRB’s questions. An independent promoter even alleges that CEO Dhungana and NRB of being in cahoots.

Separately, the NBB is also witnessing the exit of its foreign partner IFIC Bank Limited, the Bangladesh-based bank, as the latter is planning to sell 40.09 percent of its share investment in the joint-venture. 

Saral Urja, initiated as a startup by a group of professionals working in the energy sector, was registered in 2013. But the founders only started operations in 2015. 

When the country had been facing hours of daily load-shedding, inverter and solar companies flourished to meet the demand for backup energy sources. 

But when Kul Man Ghising took over the management of Nepal Electricity Authority in 2016, power cuts became a thing of the past and so did the brisk business of inverter and solar companies. 

“We were the happiest at the time as our goal was to become a solar company with a difference,” says Aashish Chalise, CEO of Saral Urja Nepal. “We believe that solar-powered solutions are not necessarily alternative forms of energy. They are mainstream energy sources that need more exploration.” 

Just importing and installing solar panels, inverters, and batteries was never part of Saral Urja’s business plan. Instead, the company’s focus is on management, financing, and integration to help households and companies build their sustainability strategy, meet energy efficiency goals, and manage their overall energy requirement. 

In rural off-grid areas as well, the company has implemented multiple solar microgrids and solar water pumping projects. Saral Urja’s first project in Dubung village, Tanahun, is an example of its business model. The company built an 18kw micro-grid in 2015, right after the earthquake and during the Indian blockade. It helped bring light to 150 households. The project, implemented under the 5P model (pro-poor, private-public-partnership) was funded by government grants as well investments from the locals as well as Saral Urja. 

The company is currently building customized grid-connected systems for its clients. “Energy is being decentralized around the world and we are sure Nepal will catch up,” says Chalise. “We do not provide an alternative to hydroelectricity but we help our clients reduce their electricity bills by owning a system that helps them produce electricity.” 

In coordination with the NEA, Saral Urja has also introduced ‘net metering’—a system that allows users to sell the excess electricity created by their solar systems to the authority. “Simply explained, you can install a solar system at home or in an industry, zero down your electricity bill, and also produce enough electricity to sell to the NEA for profit,” says Chalise. 

He offers another example to explain the economics of his business. For an average household that gets a monthly bill of around Rs 8,000-Rs10,000, six to seven kilowatts of solar system can help slash the bill considerably. Depending on variables, the installation cost comes to about 

Rs 100,000 per watt. So, the household can achieve its break-even point in a few years and enjoy the benefits of renewable energy for decades, thus saving millions. The proposition is even sweater for industries. 

Also, for industries and commercial buildings which can’t make a large investment on solar systems upfront, Saral Urja uses the RESCO (Renewable Energy as a Service Company) model, already popular worldwide. 

Under this model, if a factory wants to install a solar system, Sara Urja will do it at their own cost and then sign a power purchase agreement through which they will send the industry a monthly bill. The bill will be much less than that of NEA, Chalise explains. 

Saral Urja has also managed to raise Rs 350 million in foreign direct investment. This fund will help the company jumpstart its rooftop program and build an approximately 8 MW of rooftop solar distributed in multiple geographic locations within the next 18 months.

“We already have a 25 MW plan, which we will scale to 70MW in the next five years,” Chalise informs. “Eventually, Saral Urja will list as a public company.”

TVS Motor Company, a renowned two-wheeler and three-wheeler manufacturer, this week announced the Pokhara launch of its latest BS-VI TVS NTORQ 125 with Race Tuned Fuel Injection (RT-Fi). Nepali film stars and brand ambassadors Pradeep Khadka and Swastima Khadka unveiled the scooters at a program organized at the Batas Brothers Private Limited showroom in Pokhara. 

With this launch, TVS NTORQ 125 is available in five variants: Disc, Drum, Race, Race (BS-VI Fi), and SuperSquad Edition. It comes in a color selection of Matte Red, Metallic Grey, Metallic Red, Metallic Blue. The Race Edition (including BS-VI Fi) is available in Red-Black and Yellow-Black, while SuperSquad Edition comes in Combat Blue, Invincible Red, and Stealth Black.