The Nigerian banking industry is a leader in the continent’s financial sector. Total assets were pegged at N66.76 trillion ($151 billion) as of August 2022, a 19.13% from the same period in 2021. The banking sector provides almost 80,000 jobs to top executives, junior staff and contract workers in Africa’s largest economy. The sector has …
As digital payments become more ubiquitous, businesses that offer digital payment services are poised to thrive. Consumers are shifting away from cash and towards digital payments, making it increasingly important for businesses to offer digital payment options. From e-commerce platforms to mobile payment services, there are many types of businesses that can benefit from the …
Lagos, Nigeria – Oando PLC (referred to as “Oando” or the “Group”), Nigeria’s leading indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, today announced unaudited results for the twelve months period that ended December 31, 2021. Highlights Operational Upstream: 40% production decrease, 26,775boe/day compared to 44,550boe/day (FYE 2020) Oil production of …
Sub-Saharan Africa faces one of the most challenging economic environments in years, marked by a slow recovery from the pandemic, rising food and energy prices, and high levels of public debt. For a long time, inflation has been one of Africa’s most pressing challenges. And many of its countries, despite different measures, have been unable …
African Export-Import Bank (Afreximbank) has provided a $10 million trade finance facility to Nigeria’s Parallex Bank Ltd (Parallex Bank). The financing is deployed under Afreximbank’s Trade Facilitation Programme (AfTRAF) which is part of the Bank’s strategy to assist African banks to enhance and complement existing trade finance lines. The $10 million financing facility will be …
According to the National Insurance Commission (NAICOM) in its latest report, Nigeria’s insurance sector’s total assets grew to N2.33 trillion in the fourth quarter of 2022. The sector generated a total premium of N726.2 billion, representing 36.3 per cent growth quarter-on-quarter (QoQ) and 17.8 per cent year-on-year (YoY) in gross premium income According to the …
Nigeria has not had a census in well over a decade. So the news that Nigeria is preparing for a nationwide headcount this year sounds historically significant. Even more, it’s supposed to be Nigeria’s first “digital census.” However, Nigerians don’t seem excited about it. Social media is brimming with people either showing scepticism or even …
Standard Chartered Bank (Nigeria) Limited has launched the fourth edition of its SC Women in Technology Incubator, to support and promote the economic and social development of women in Nigeria through innovation or technology-led entrepreneurship. The Standard Chartered Women in Tech program targets female-led entrepreneurial teams and provide them with training, mentorship, and seed funding. …
Legend, a digital service company with a focus on Fintech, broadband, and mobile services has introduced an App, designed to provide seamless access to users and interactive customer service. The app called My Legend App, according to the tech company, was developed after studying the major needs and challenges of users, to arrive at the …
Interswitch Group, a Nigerian-based integrated payments, and digital commerce company, has announced the commencement of the fifth edition of its annual InterswitchSPAK National Science competition, a STEM-focused initiative targeted at young Africans. The competition, which is open to all senior secondary school students between the ages of 14 and 17 in public and private schools …