Innovate Africa Foundation, in collaboration with the Silicon Valley Product Group (SVPG) and WorkNigeria, is set to host Africa’s largest tech product conference from September 18 to 21, 2023, at the Eko Convention Centre. Tagged the Inspire Africa Conference, this four-day event aims to empower the African product community by offering practical training and expert …
Suspension of tax increments averted threat to manufacturers – MAN
The Manufacturers Association of Nigeria (MAN) has said the suspension of the obnoxious aspects of the 2023 Fiscal Policy Measures is a welcome development to the manufacturing sector. In a statement on Friday, Segun Ajayi-Kadir, director general of MAN, said the suspension of the taxes which arbitrarily imposed additional tax burden on the sector, obviates …
Buhari left Tinubu blueprint to save N260bn yearly by cutting govt cost
Former President Muhammadu Buhari, in his last full year as the country’s leader received a report on the review of the Oronsaye report that lays out a blueprint for how his successor can save N260.9bn yearly by cutting governance costs. BusinessDay has obtained the 200-page report titled “Rationalisation of Government Parastatals and Agencies 2022.” The …
Arab-Africa trade launches $1.5bn to address food security
The United States has committed an additional $55 million in food security relief for Nigerians. The Executive Committee of the Arab-Africa Trade Bridges (AATB) Program, a multi-donor, Inter-regional program, on Thursday launched a US$1.5 billion food security pogram to address the issues of food insecurity in the Arab and African regions amidst the ongoing global …
Inflation: Nine areas worsening cost of living crisis
Inflation, which serves as a measure of consumer prices, has more than doubled over the last eight years, worsening the living conditions of cash strapped consumers in Africa’s biggest economy. According to the National Bureau of Statistics (NBS), Nigeria has been having double digit inflation since February 2016 at 11.38 percent. And since then, it …
Tinubu eases throttle on taxes
President Bola Tinubu has put the brakes on the implementation of some of the tax changes made by his predecessor, providing temporary reprieve to businesses and households groaning under the weight of new charges aimed at propping up government revenue. Tinubu signed on Thursday four Executive Orders, postponing the enforcement of taxes on telecommunication services …
How the IFC-BUA $500 million deal underscores the critical role of private-partnership for African economies
Africa has some of the world’s most significant, yet, untapped resources such as solar, hydraulic and geothermal energy. While some of these resources are scattered across the continent, most are found in huge deposits around the Northern, Southern and Eastern regions. According to comments by Makhtar Diop, Managing Director, IFC, in the recently concluded Africa …
Bolt surpasses 150m customers, appoints new CFO
Bolt, a European-based mobility company with a presence in Nigeria announced that it has surpassed 150 million customers in over 45 countries and 500 cities. According to the mobility company, the customers are spread across its suite of mobility products which include ride-hailing, micro-mobility (scooter and e-bike rental), food delivery, grocery delivery, Bolt Drive, a …
Zuckerberg projects Threads to hit over 1bn users
Mark Zuckerberg, the CEO of Meta has projected Instagram’s rival app to Twitter, Threads to hit over one billion users. This came after a Twitter user disclosed the need to have a public conversation app with one billion people on it, stating that Twitter has had the opportunity to meet the target. “There should be …
4 ways Twitter is different from Threads
The newly launched Instagram Threads app projected to reach one billion users by Mark Zuckerberg might face setbacks due to some limitations. “Zuck’s goal is crystal clear. Build a new billion-user platform. Even if it means cannibalizing existing businesses already affected by app platform owners. He needed this. Musk’s goal isn’t clear and full of …