The services sector is projected to create at least 85 million net new jobs across Africa by 2030, a new report has said. The report titled ‘Reimagining economic growth in Africa: Turning diversity into opportunity’ by McKinsey & Company, said Africa will be home to the world’s largest working-age population by 2040, and smart deployment …
MSMEs are crucial for economic growth globally, including in Nigeria. And for a long time in Africa’s largest economy, they have served as the lifeblood fuelling economic growth and development by creating jobs, reducing poverty, and generating wealth. The International Labour Organisation (ILO) says that MSMEs account for 96 per cent of businesses, 84 per …
Flutterwave, Africa’s payments technology company, has partnered with Token.io, an account-to-account (A2A) payment infrastructure provider in Europe, to integrate Pay-By-Bank transfer capabilities into Flutterwave’s platform. This announcement was made at the Money20/20 Europe fintech conference in Amsterdam. A2A payments, commonly known as ‘Pay-By-Bank,’ offer a secure and swift method to transfer funds between bank accounts. …
Justus Obaoye and Abdulazeez Ogunjobi founders of Billboxx, a business-to-business (B2B) software as a service (SaaS) company have been selected to join the Norrsken Accelerator program for 2023. Norrsken Accelerator nurtures innovative startups and provides them with the necessary resources, mentorship, and network to scale their businesses and create a positive impact in their respective …
Airline says incident at payroll provider was caused by vulnerability in file transfer tool British Airways, Boots and the BBC on Monday confirmed they had been affected by a “cyber security incident” involving their payroll provider which has affected some of the UK’s best-known names. BA said the incident at Zellis, its payroll provider, was …
Apple announced its entry into the metaverse with the launch of its augmented reality and virtual reality (AR/VR) headset called Vision Pro. The headset is expected to challenge the dominance of Meta’s Oculus in the metaverse but at over six times the price of the latter. The mixed reality headset, Vision Pro is the first …
Improved broadband penetration has the potential of creating wealth and unlocking huge opportunities for millions of Nigerians Despite the declining rate of broadband penetration, Nigeria’s telecommunications companies reported an additional two (2) million new internet subscribers as of April 2023. Recent data from the Nigeria communication commission (NCC) show that internet subscribers rose to 157 …
At a ceremony in November, the Nigerian government celebrated the discovery of as many as 1 billion barrels of oil in the country’s arid northeast, almost 1,000 kilometers (621 miles) away from the crude-rich Niger Delta. The state’s partners in the multi-billion dollar project in the impoverished, landlocked corner of the country is a company …
Unifying the Naira exchange rate. Last week, Nigerians were thrown into a frenzy after reports emerged that the Central Bank of Nigeria (CBN) sold foreign currency to banks at a rate of N631 to a dollar during the weekly bidding. This was seen as a devaluation since just 24 hours earlier, the dollar had been …
The surge in petrol prices occasioned by the removal of subsidy is the latest headache facing millions of small businesses in Nigeria, a couple of months after a cash crisis caused economic activity to shrink for the first time in almost three years. Many of the country’s 39.6 million nano, micro, and small businesses have …