Chief executive of asset manager says technology has potential to bring down inflation BlackRock founder Larry Fink has predicted that “transformative opportunities” in artificial intelligence could solve the productivity crisis he blames for persistently high inflation. Speaking at BlackRock’s investor day, Fink said: “The collapse of productivity has been a central issue in the global …
About 40 fintech startups across Africa will get the opportunity to scale their services every year, after participating in the Visa Africa Fintech Accelerator program set to kick off in July 2023. The new initiative is a three-month intensive learning program focused on business growth and mentoring. On completion of the program, Visa says it …
…hits 22.41 Nigeria’s annual inflation rate rose for the fifth straight month to 22.41 percent in May 2023 from 22.22 percent in the previous month, according to the latest inflation report released on Thursday. The report published by the National Bureau Statistics (NBS) said the food inflation rate quickened to 24.82 percent in May from …
With the unification of the foreign exchange (FX) market, foreign investors of all categories can now come in with their money to invest in Nigeria, said Ayodele Akinwunmi, relationship manager, of corporate banking at FSDH Merchant Bank Limited. He said exporters will now earn more money on their exports. Government can now speak with Nigerians …
The suspended chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa is Thursday morning having a taste of many of the experiences many guests of his agency have had in his custody – waking up in confinement without as much as a clue of what is happening in the world around him. The …
The next step for Nigeria after a bold first move towards unifying the country’s problematic multiple exchange rates is to boost dollar supply into the market, according to several economists polled by BusinessDay. The Central Bank of Nigeria (CBN) allowed the market to determine the naira exchange rate for the first time in years on …
Nigeria, Africa’s biggest economy, is expected to see the exit of 300 dollar millionaires this year; up from 200 in 2022, according to the 2023 edition of Henley Private Wealth Migration Report. This will make the country the second-biggest loser of millionaires on the continent after South Africa, which is expected to see a net …
Close to 370,000 employees in the tech industry have lost their jobs between 2022 and 2023. But a good number of them are now trying their hands at building startups and taking on the titles of founders. A new study by Bizreport said for every 100 people who lost their jobs, 13 started their own …
In a bid to provide telecom service, and bridge the access gap between 27 million people living in rural, unserved, and underserved areas in Nigeria, who have no access to telephony networks, Nigerian Communications Commission (NCC) plans to use the newly licenced Mobile Virtual Operators (MVNO) to bridge the gap. These MVNOs are wireless communication …
MultiChoice Group, South Africa’s media company, said it invested heavily in creating local content, hiring African talent, and supporting the creative industry in Africa. This is contained in the financial year 2023, MultiChoice Group released this week. According to the company, MultiChoice spent 50 percent of its general entertainment budget on local content. This achievement …