Nigeria is Africa’s largest economy and investment destination for many multinational companies in the energy, FMCG, telecoms, agriculture and tech sectors, to mention the least. It has international companies like MTN, Airtel Africa, Nestle, Guinness, Lafarge, Seplat, Unilever and International breweries listed amongst its top most valuable companies on its stock market, Nigerian Exchange Group …
So far this year, Nigeria’s economy has encountered a multitude of challenges, ranging from a cash crunch at the beginning of the year to persistent high-interest rates and sky-bound inflation rates. These obstacles have had significant repercussions on the country’s economic performance, including its GDP. According to the latest report by the National Bureau of Statistics, …
Here are three big stories from Africa’s business landscape you should keep in mind this week: The CBN went on a licence-revoking spree On May 24th, the Central Bank of Nigeria revoked the operating licences of 132 microfinance banks, four primary mortgage banks, and three finance companies. Notably, the CBN’s reasons for this carnage varied …
Over the last five years, we have become synonymous with Bitcoin and crypto trading. We have been at the forefront of crypto adoption in Africa, and despite governmental and environmental challenges that have tested our efforts to drive adoption in Nigeria and Africa, we have remained resolute. Our efforts did not go unnoticed, as we …
Traditionally, food, clothing, air, and shelter are recognized as the fundamental necessities of life. However, with the overwhelming advancement in technology that we are experiencing, we might consider adding mobile phones to the list. While it may not sustain life itself, it has undeniably become an indispensable tool with which we navigate our everyday lives. …
In the African continent, the cryptocurrency landscape is seeing rapid growth and capturing the attention of entrepreneurs, investors, and policymakers. Africa is home to over 1.3 billion people spread across 54 diverse nations which presents a unique opportunity for the adoption and implementation of trading technology solutions. One of the driving forces behind the increasing …
When Olugbenga “GB” Agboola founded Flutterwave, his goal was simple: He wanted to provide businesses in Africa with a way to utilize modern financial systems. But what ended up happening went far beyond what he envisioned. Born in Nigeria and educated at the MIT Sloan School of Management in Massachusetts, Olugbenga Agboola knew a few …
Financial Sector Deepening (FSD) Kenya and the Financial Access Initiative (FAI) research centre of New York University, today presented the results of the Kenya Small Firm Diaries (SFD) study in Nairobi. The Small Firm Diaries is a global research project being conducted between 2021 to 2023 in seven countries: Kenya, Nigeria, Uganda, Ethiopia, Indonesia, Fiji and Colombia. The …
The e-passport market is poised to grow by USD 12.09 billion during 2023-2026, accelerating at a CAGR of 11.7% during the forecast period. The increasing number of air passengers is notably driving the e-passport market growth. The market is expected to be driven by the rise in the use of advanced verification methods and devices …
On Tuesday, May 23, Oando Clean Energy Limited (OCEL), the renewable energy subsidiary of Oando, Nigeria’s leading energy solutions provider; in partnership with the Lagos Metropolitan Area Transport Authority (LAMATA) marked the formal commencement of operations of its electric mass transit buses in a grand ceremony at Lagos Bus Services Limited (LBSL) Head Office, Illupeju, Lagos. …