Cinema sales in Nigeria are struggling to bring home the bacon. According to reports, Nigerian cinemas recorded N441 million in ticket sales in March. The total admission of viewers into cinemas across the federation, for the period under review was 174,07. According to reports from the cinema exhibitors association of Nigeria, the recorded sales in …
Amid significant global economic turbulence, all eyes last week were on the annual Spring Meetings of the World Bank and International Monetary Fund (IMF) held in Washington, D.C. between 10 and 16 April. High on the agenda were the deteriorating debt and climate finance crises facing the developing world. New research from ActionAid published alongside …
Gas flaring is a common practice in Nigeria’s oil and gas industry, as in many other countries where oil extraction takes place. The associated gas released during oil production is often seen as a byproduct and is not always easy or cost-effective to capture. As a result, it is burnt through flaring. Flaring persists to …
Fuel subsidy has always been a reoccurring topic of discussion in Nigeria, Africa’s largest economy. And every reason for its discussion oscillates between its expensive cost or plans for total removal. As before, this topical issue has stirred up reactions from Nigerians recently, following the government’s announcement of an $800 million loan from the World …
On a macro scale, we all remember 2022 for different events, depending on which impacted us the most. Geopolitics enthusiasts won’t forget the Russia-Ukraine war, and football lovers won’t forget the world cup. It’s the same way in tech: everyone remembers 2022 as tech winter when capital markets became more cautious with funding, and we …
Is Sudan on the brink of another civil war? On Saturday, April 15th, a clash broke out in Khartoum between Sudan’s paramilitary Rapid Support Forces (RSF) and the army in an alleged power tussle. According to Reuters, the Sudanese Doctors’ Union declared at least 25 people dead and 183 people wounded, as of Saturday. Earlier …
According to ifc.org, Africa’s travel and tourism sector employed more than 24 million people in 2019. However, COVID-19 created an unprecedented crisis for the tourism industry in Africa and around the world, crushing the supporting sectors that depend on tourism for revenue. According to the African Union, the pandemic cost the continent’s tourism industry over $55 …
Nigerian business aviation firm, Falcon Aerospace Ltd, has unveiled innovations designed to ease business jet booking and make access to the service more inclusive. The firm introduced the products at a recent event in Lagos, Nigeria, where it unveiled its operational business units. According to CEO, Chukwuerika Achum, Falcon Aerospace’s business model derives from the …
Netflix has been making headlines recently with its plans to expand across Africa. The streaming giant recently released its socio-economic report, showing how well it has done since making its way to sub-Saharan Africa in 2016. According to the report, the company invested a total of $175 million in South Africa, Nigeria, and Kenya from …
Payday, the leading Pan-African neobank issuing global (USD, GBP & EUR) accounts to Africans, has announced its re-entry into Rwanda, following the official launch of SpaceX’s Starlink in the East African country. The re-entry into Rwanda marks a significant milestone in Payday’s Pan-African and global expansion plans, as well as its burgeoning working relationship as …