Nigeria’s young tech sector faces a major hurdle in an unreliable power supply, with the average tech firm reporting over 30 power outages per month, according to a major new survey.
With South Africa’s know-how and experience in infrastructure development projects and Nigeria's opportunities in different parts of the chain-value, both countries can complement and learn from each other and grow their economies together.
Following the attack of two vessels in the Gulf of Guinea last week, the International Transport Worker’ Federation called for urgent global and regional cooperation to fight piracy in the region.
Visa is investing $200 million in the firm making Interswitch one of the most valuable African FinTech businesses with a valuation of US$1 billion.
The Port Elizabeth, Eastern Cape-based cables and transformers for electricity manufacturer, Aberdare Cables is seeking to supply Nigeria with quality cables and transformers at a competitive price.
Tizeti, West Africa’s pioneer solar-based internet service provider, has launched its 4G LTE network in Nigeria, with the plans to extend to leading cities in Nigeria and West Africa in 2020.
French oil major Total wants to sell its 12.5% stake in a deepwater oilfield off the coast of Nigeria.
Several reasons explain why SMEs in Ghana and West Africa struggle to raise funding to finance their growth: many entrepreneurs have limited knowledge of fundraising options available to them.
Leveraging on the partnership between the companies in Nigeria, Tizeti extends its partnership with MainOne as the company launches in Ghana as GhanaWifi.com.
Africa Finance Corporation has announced the successful issuance of a US$500 million Reg S Only Eurobond for general corporate purposes, maturing in October 2029.
Paxful now services 3 million wallets with more than 800,000 being added in the last 12 months, predominantly in the USA, Nigeria, and Ghana.
Nigeria’s leading e-payments company Interswitch has acquired a majority stake in healthcare technology startup e-Clat.
The Federal Government has pledged to support the 650,000 barrels per day capacity Dangote Refinery and Petrochemicals Plant with crude oil feedstock and other necessary inputs to the success of the project.
The Nigerian National Petroleum Corporation has announced that the corporation has publicly opened bids from 14 companies for the financing and redevelopment of Oil Mining Lease (OML) 119.
LEKOIL, the oil and gas exploration and development company with a focus on West Africa, announces that it has paid the US$7.5 million license extension fee for OPL 310 ("the Block") as mandated by the Government of Nigeria.
Access Bank has successfully completed the second phase of its integration, where it has brought together all her core banking platforms onto a new, highly scalable platform.
South African Airways is pleased to announce the launch of a codeshare partnership with Africa World Airlines which will apply between Accra (ACC) – Kumasi (KMS), Accra - Lagos (LOS) and Accra – Abuja (ABV).
Nigerian music streaming service Playfre has announced that it is launching in 13 more African countries. Before this, music streaming on Playfre was only limited to only 5 African countries
Luno, the global cryptocurrency platform, has announced that customers can now buy Ethereum on its exchange using Nigerian Naira.
GE will modernize seven GE LM6000PC Aeroderivative Gas Turbines and Install Its Asset Performance Management (APM) Digital Solution at Dangote Cement Plants in Obajana and Ibese, Nigeria.
Zenlayer and MainOne have partnered to greatly expand connectivity between international companies and West Africa.
All undergraduates between the ages of 16-2 can now bank for free with Guaranty Trust Bank (GTBank).
Access Bank’s expanded digital lending portfolio, which gives Nigerians quick and 24/7 access to funds for emergencies without any collateral, has hit a record N1billion daily in loan value.
[Nigeria] Bazuze boosts local economy by encouraging people to invest in agriculture commodity trading
In Nigeria, being a farmer has often been synonymous with poverty for quite a while now.
Panoro has entered into a sale and purchase agreement with PetroNor, to divest all outstanding shares in OML 113 Offshore Nigeria containing the Aje oil and gas field.
[Nigeria] Otakikpo field partners sanction phase two development project and marginal field license renewal
LEKOIL is pleased to announce that the Otakikpo Joint Venture between Green Energy International and LEKOIL (with LEKOIL as Technical Partner) has sanctioned Phase Two of the Otakikpo field development plan.
About 200 youths from Ibeju-Lekki community in Lagos State have graduated from various skills acquisition programme organised by Dangote Petroleum Refinery.
ASCM (the Association for Supply Chain Management) has announced it has received a grant from the Global Fund to Fight AIDS, Tuberculosis and Malaria.
Access Bank’s expanded digital lending portfolio, which gives Nigerians quick and 24/7 access to funds for emergencies without any collateral, has hit a record of N1billion in daily loan value.
The Organisation of Petroleum Exporting Countries has granted Nigeria’s wish and increased its oil output under the petroleum production quota deal member states renewed in December 2018, according to a report by Reuters.
The Nigerian Stock Exchange has announced the amendment to the rules on Pricing Methodology; price movements of equity securities traded on The Exchange.
The Federal Government of Nigeria has unveiled the Automated Downstream Operations and Financial Monitoring Centre (DOFMC) to deepen transparency in the oil and gas sector.
The Nigerian Stock Exchange (NSE) and the Luxembourg Stock Exchange (LuxSE) have signed a Memorandum of Understanding (MoU) to cooperate in promoting cross-listing and trading of green bonds in Nigeria and Luxembourg.
[Nigeria] Afreximbank urges creation of specialised agency to take advantage of AfCFTA opportunities
The President of the Afreximbank urged Nigeria to set up a specialized agency to enable it take advantage of the opportunities offered by the implementation of the African Continental Free Trade Area (AfCFTA).
GE Power and Indorama Eleme Petrochemicals announced that they have successfully executed GE’s 6B Performance Improvement Package upgrade on the first two out of six 6B gas turbines at the petrochemical facility in Nigeria.
IFC is investing $10 million in CardinalStone to expand access to finance for high-growth, underserved small and medium enterprises (SMEs) in Nigeria and Ghana.
[Nigeria] Securities and Exchange Commission selects PML Audit to serve as auditors to public liability companies
Nigeria Securities and Exchange Commission has registered PML Audit to serve as auditors and reporting accountant to public liability companies in Nigeria starting from August 2019.
[Nigeria] Facebook and Teleperrfomance partner to launch Small Business Group Operations Centre targeting advertisers in Sub-Saharan Africa
Facebook in partnership with Teleperformance, has announced the opening of its first Small Business Group (SBG) Operations Centre in Lagos, Nigeria.
WCS, partners fit Elephants with GPS/satellite collars to reinforce ongoing protection efforts in Nigeria
The Wildlife Conservation Society (WCS) announced that it has fitted six elephants with GPS/satellite collars over the past two months to further reinforce ongoing protection efforts in Nigeria’s Yankari Game Reserve.
Facebook in partnership with Teleperformance, has announced the opening of its first Small Business Group (SBG) Operations Centre in Lagos, Nigeria.
The Nigeria Civil Aviation Authority (NCAA) in the last four years has received 256 applications for licences/permits from aviation service providers in the sector.
The UK Secretary of State for International Development announced a new UK aid package that will help mobilise £500 million in private sector investment and create 50,000 jobs across Sub-Saharan Africa.
Kenyan e-Logistics company, Lori, has officially announced its expansion to Nigeria in a bid to cement its footprint across Africa.
Atlas Mara announced that the Overseas Private Investment Corporation (OPIC) has entered into an agreement to provide $200 million in financing for Union Bank of Nigeria (UBN) to support inclusive lending across Nigeria.
Verod Capital Management has received regulatory approvals for its acquisition of 100 per cent of the shareholding of Metropolitan Life Insurance Nigeria from South African-based Momentum Metropolitan Holdings.
Nigeria’s technology innovation centre Co-creation Hub (CcHUB), has acquired Kenya's iHub for an undisclosed fee.
The Nigerian National Petroleum Corporation and the Major Marketers Association of Nigeria have resolved to continue to work hand-in-hand to grow the Petroleum Industry.
Digital money transfer company WorldRemit is significantly expanding its service in Nigeria by introducing a new cash pick-up service at all branches of FCMB Bank, Fidelity Bank, Access Bank, Zenith Bank, and Polaris Bank.
The push by the Management of the Nigerian National Petroleum Corporation to increase crude oil production gained momentum with the closure of an $875.75m alternative financing deal for the Nigerian Petroleum Development Company.
The U.S. Trade and Development Agency has built on its 27 years of support for Nigeria’s energy sector by funding three projects that will help to electrify dozens of rural communities.
The Nigerian National Petroleum Corporation has boosted access of Ilorin, Kwara State, and its environs to petroleum products supply as the corporation’s Group MD, Mallam Mele Kyari, re-commissioned the Ancient City’s NNPC Depot.
The 15 member states of the West African Health Organisation (WAHO), Nigeria among them, are leveraging technology that will help them prevent cross-border outbreaks of epidemics.
The Nigerian Communications Commission (NCC) has remained upbeat in its commitment to sensitize telecom consumers across the country on the dangers of cybercrime.
United States Consulate General in Lagos has launched the Academy for Women Entrepreneurs (AWE), a State Department-led initiative that supports women entrepreneurs around the world.
Phase3 Telecom has that it has commenced a strategic network technology upgrade to enhance communications for seamless regional and multi-location connectivity in Nigeria.
Andela, the Africa-focused software developer training and outsourcing company is laying off more than 400 developers from its hubs in Nigeria, Kenya and Uganda.
Microsoft has appointed Gafar Lawal as the managing director of its Africa Development Centre in Nigeria, launched in May 2019. The centre recruited world-class Nigerian talent to create innovative solutions for global impact.
kwik Delivery, a pioneering B2B, on-demand delivery platform operating in Lagos, Nigeria, has announced the release of its API to customers.
GreenTec has announced its investment into Nigeria’s Save n Flex.
Oracle, in collaboration with Redington, a leading value added distributor operating across East, West, French West Africa and Middle East, today launched a Cloud Center of Excellence in Lagos
Telecommunications company, 9mobile, has affirmed its support for young entrepreneurs and technology start-ups, promising to assist them in achieving their growth and development plans in a competitive global economy.
FairMoney, a Paris-based fintech startup, has closed a 10 million-euro Series A round of investment led by Flourish, a venture of The Omidyar Group, the partners of DST Global, and existing seed investors Newfund, Speedinvest, and Le Studio VC.
Africa Finance Corporation, African investment-grade infrastructure solutions provider, has announced the successful closure of general syndication which raised US$ 233 million and JPY 1 billion.
The Spotlight Nigeria Business and Investment forum is attended by Businesses and Investors from France and other European countries
The Nigerian Stock Exchange, NSE, is launching X-Mobile, a dynamic and user-friendly mobile app, to enhance investors’ participation in the Nigerian capital market.
LEKOIL announces that pursuant to a letter dated 4 September 2019, the Federal Government of Nigeria and the Ministry of Petroleum Resources have approved the extension of OPL 310's exploration licence for three years.
Management of Emerging Markets Telecommunication Services Limited (EMTS), trading as 9mobile, has secured $230 million loan facility from Africa Finance Corporation to help it attain its long-term growth plans.
Oando has announced that the NNPC/NAOC/Oando joint venture has made a significant gas and condensate find in the deeper sequences of the Obiafu-Obrikom fields, in OML61, onshore Niger Delta.
The African Development Bank and the African Fertilizer and Agribusiness Partnership have signed two grant agreements to implement trade credit guarantees worth $5.4 million to support fertilizer value chains in Nigeria and Tanzania.
Afreximbank will allocate $500 million from its Nigeria-Africa Trade and Investment Promotion Programme to support Nigerian manufacturers.
Grow Africa has announced the signing of 7 term sheets that will result in a total of over $200,000,000 of new investment in Malawi, Uganda, Eswatini, Nigeria and Côte d’Ivoire by 2023.
Kobo360 was launched in 2017 by entrepreneurs Obi Ozor and Ife Oyedele II. Kagure Wamunyu is the current CEO, leading the company's expansion and growth in the African region.
Access Bank of Nigeria has successfully issued a Tier II N30 billion Fixed Rate Subordinated Unsecured Bond.
United Bank for Africa has announced its audited half year financial results for the period ended June 2019, showing growth across key performance indices as well as a significant contribution from its African subsidiaries.
Eni, through its affiliate NAOC, has made a significant gas and condensate find in the deeper sequences of the Obiafu-Obrikom fields, in OML61, onshore Niger Delta.
MainOne has confirmed the scheduled landing of the MainOne submarine cable systems in Senegal and Cote d’Ivoire in September and October 2019 respectively.
The Nigerian National Petroleum Corporation and Total Nigeria have expressed their readiness to work together to grow daily national crude oil and gas production and reserves to meet the national target of 40 billion barrels.
Ten Nigerian graduates of Business and Information Technology disciplines have completed a one-year specialised digital training and certification in Financial Accounting and Project Management.
GE Healthcare partners with Memfys Hospital to improve disease diagnosis in Nigeria’s South-East regions
GE Healthcare has partnered with Memfys Hospital to provide the SIGNA™ Explorer 1.5Tesla MRI system services and training to advance early diagnosis of diseases.
The Africa mobile phone market declined 1.8% quarter on quarter, QoQ, in Q2 2019, according to the latest figures announced by International Data Corporation.
The Nigerian Stock Exchange has announced the listing of the Greenwich Alpha ETF by Greenwich Asset Management Limited, on its Daily Official List.
To talk about the importance of agriculture is not overemphasizing, especially with a population of over 200 million Nigerians to feed daily.
Nigeria's automotive trading platform, Cars45 has announced the launch of a new product - Premium Inspection service - in line with its avowed commitment to exploring new platforms.
Two months after its launch in Lagos, the kwik Delivery platform has reached 2000 verified customers and is already well on its way toward 3000 verified customers.
Chinese investments in the oil and gas industry of Nigeria have reached US$16 billion, according to a senior NNPC official, but the industry needs even more to advance its production growth agenda.
Airborne Oil & Gas has secured a contract with Addax Petroleum which will see the firm delivering two gas lift jumpers in West Africa.
Africa is an exciting frontier in the global natural gas sector. The continent holds 7.1 percent of proven global gas reserves.
[Column] NJ Ayuk: Between extortion and the sanctity of Petroleum contracts in Nigeria, DRC and Senegal
Last week, a UK commercial court gave reason to a claim by engineering company P&ID, which demands over USD$9 billion from the Nigerian government over a failed gas deal.
Viga Interactive has expanded its footprint across the continent through partnerships with international companies and brands aimed at providing research and insights.
The Nigerian National Petroleum Corporation says strategic partnership and new investments in the Upstream Petroleum Sector are essential for it to actualize the nation’s crude Oil reserves and 3m barrels per day oil production target by 2023.
Telecommunication company Airtel Africa has announced plans to roll out mobile money in Nigeria.
Facebook's third-party fact-checking programme relies on feedback from the Facebook community, as one of many signals Facebook uses to raise potentially false stories to fact-checkers for review.
The Nigerian National Petroleum Corporation and the National Oil Spill Detection and Response Agency have expressed their willingness to work closer with the aim of mitigating the incidences of oil spill across the country.
TECNO the leading mobile phone brand in Africa has announced the launch of the latest 3G smart feature phone T901, the first TECNO device running on KaiOS
A training carried out by the United Nations World Food Programme (WFP) in Yobe State, North East Nigeria, has improved methods of food storage after the harvest season.
Kobo360, the digital technology platform disrupting African third-party logistics, has announced the completion of a $20M Series A equity round.
Experts from IFDC, CORAF, and the private sector have come together in Dakar Senegal to develop an online tool to give localized seed and fertilizer recommendations.
Nigeria’s digital content distribution startup Publiseer, has been shortlisted for the Unilever Young Entrepreneurs Awards 2019.
As part of efforts to promote innovation in the education sector, Union Bank has announced the launch of the 2019 EdTech Challenge.
South African Airways is further strengthening its presence in Ghana by increasing weekly frequencies from 9 to 10 flights between Johannesburg and Accra, and by launching a daily service between Accra and Washington DC.