Oxford Foundry and FMDQ Private Markets, a subsidiary of FMDQ Holdings Nigeria, have launched a global partnership to accelerate the growth of Nigeria’s startup ecosystem.
Medical Credit Fund (MCF), the not-for-profit fund for financing small and medium-sized (SMEs) healthcare companies in Africa, announced the disbursement of its first loan within MCF2.
Nigerian-based AfriGlobal Insurance Brokers launched AfriCover247, a round-the-clock digital insurance transaction platform that will assist businesses, individuals and technology providers access and redistribute insurance products with ease.
Grifols, a global producer of plasma-derived medicines and provider of technologies and services for hospitals, clinics and compounding centers, announced it will establish an intravenous (IV) solutions production plant in Nigeria.
In a world where cybercrime remains rife and is only fuelled by aspects like the pandemic, there is never a moment one should not consider the implications of a cyberattack, warn Kaspersky researchers.
Verimatrix, Renmore Partners collaborate to offer scalability and affordability for digital TV switchover in Nigeria
Verimatrix, the leader in powering the modern connected world with people-centered security, announced that Renmore Partners selected Verimatrix’s conditional access technology to offer Nigerians cost-effective at-home entertainment.
The Bank of Industry, African Development Bank, International Fund for Agricultural Development and Islamic Development Bank have okayed $800million to reduce poverty, end hunger and increase resilience to climate change in rural communities around Nigeria.
Not the biggest but the most profitable, that’ the strategy of Guaranty Trust Bank (GTBank) and it’s one that it is clearly achieving among its banking competitors in its home country Nigeria and also across Africa.
Decklar announces Share Purchase Agreement to participate in Asaramatoru Oil Field in OML 11, Nigeria
Decklar Resources announced the completion of a Share Purchase Agreement (SPA) to purchase all of the issued and outstanding ordinary shares of Purion Energy Nigeria.
Guaranty Trust Holding Company Plc (GTCO Plc) has commemorated the listing of its shares on Nigerian Exchange (NGX) with a Closing Gong Ceremony.
NanoX Imaging Limited, an innovative medical imaging company, has entered the West African market, signing an exclusive distribution deal with EiLEENO Pharma to deploy Nanox's medical imaging services in Nigeria.
VOXOX, a 5G-enabled AI cloud communications company announced a strategic partnership with GTS Africa, a French value added communications network operator doing business in Cameroon and Nigeria.
IFAD launches new financing programme to boost private funding of rural businesses and small-scale farmers
Rural businesses will get a boost from new financing programme launched by the UN’s International Fund for Agricultural Development (IFAD), as part of its broader efforts to address rising hunger and poverty levels in the world’s poorest countries.
Nigerian fintech and lending startup Lidya announced the completion of its $8.3 million pre-Series B funding round. Alitheia Capital led the investment through its uMunthu Fund.
These assets would meet the expected increase in demand for transportation of cement to every part of the country and create employment for over 4,000 people in Nigeria.
Marketforce, the Kenyan-based B2B platform for retail distribution of consumer goods and digital financial services in Africa, announced the appointment of Ore Omolaja as the Nigeria Country Manager and Head of Business, effective 15th July 2021.
Leading global marketing measurement, AppsFlyer, has launched a report with Google that reveals a booming African mobile app market, propelled by a growing fintech space.
To support the long-term, inclusive growth of Nigeria's private sector, IFC has appointed Kalim M. Shah as its Senior Country Manager for Nigeria.
Connected asset financing platform M-KOPA, has officially expanded to Nigeria. To lead the Nigeria team, M-KOPA has named Babajide Duroshola as the new General Manager.
The Mastercard New Payments Index shows 96% of Nigerian consumers will consider using at least one emerging payment method, such as cryptocurrency, biometrics, contactless, or QR code, in the next year.
AfDB scoping study identifies opportunities for private sector participation in Africa’s climate agenda
A recently published African Development Bank scoping study on implementing NDCs in Africa recommends that development financial institutions and other investors focus on high-impact, high-growth potential start-ups that can drive climate-related innovation.
International money transfer provider Small World Financial Services has announced that customers in Nigeria can now receive money in minutes across an even larger bank network than before, with more than 2800 pay out locations, as to well as to their bank account.
[Nigeria] NGX receives approval for seven derivatives contracts from Securities and Exchange Commission
The Nigerian Exchange Limited, NGX, announced it has received approval for seven derivatives contracts from the Securities and Exchange Commission (SEC).
Daystar Power, a provider of hybrid solar power solutions to businesses in West Africa, announced the closing of a $20 million facility from International Finance Corporation (IFC).
Qualified women entrepreneurs in the Nigerian Oil and Gas industry can now benefit from the $40 million Women in Oil and Gas Intervention Fund deployed by the Nigerian Content Development and Monitoring Board (NCDMB) and Nexim Nigerian Export-Import Bank.
Pipit Global has announced that in Nigeria, Kenya, Uganda, Tanzania, Mali, Senegal, and Ghana, consumers can now avail of transactions through the pipit platform at lower rates than ever before.
The African Development Bank (AfDB), approved a loan of $50 million to Nigeria’s First City Monument Bank (FCMB) to channel to local enterprises and women-empowered businesses.
IFC’s TechEmerge partners with logistics startup Kobo360 to pilot sustainable cooling innovations in Nigeria
Eleven global innovators have been selected to partner with 15 leading Nigerian companies to pilot cost-effective, climate-smart technologies to strengthen the country's temperature-controlled logistics supply chain.
While organisations across West Africa work to recover from the economic impact of the pandemic, the global cybercrime industry is going into overdrive.
With the introduction of Hype, Opera is redefining the concept of mobile browsers, providing users with a personalized, engaging browsing experience that enables seamless chatting, surfing and sharing – without compromising speed or driving increased data consumption.
Opera is launching Hype Clubs, public and interest-based group chats in Hype, the new chat service built into the Opera Mini web browser. Hype is currently available and quickly gaining popularity in Kenya, South Africa, Ghana, Zambia, Nigeria and other English-speaking African countries.
Nigerian fintech startup TeamApt has closed its Series B fundraising round, as it looks to expand its financial services beyond Nigeria.
Nigeria's oil sector reform bill, expected since 2008, was finally passed by parliament on Thursday, a historic moment for Africa's top oil producer.
CIP, RAB, the International Institute of Tropical Agriculture (IITA) and the One Acre Fund have partnered to support and launch a digital platform called AKILIMO that helps farmers and extension workers develop tailored fertilizer recommendations.
Working in partnership with Google.org and Google’s University Relations program, Google is sharing 30 new projects that will receive funding and support as part of their AI for Social Good program including those from Sub-Saharan Africa countries.
With this funding, the company is launching ‘SentinelX’, a digital health membership that champions preventive, personalized, and continuous care using proprietary technology.
Nigerian Exchange Limited, NGX, has announced the rebranding of all its existing indices by changing the prefix from NSE to NGX as it leverages on the new brand identity of the Exchange.
Social media adoption helps small and medium-sized businesses power Africa’s economic growth, report
A study conducted by Genesis Analytics in eight African countries - Senegal, Côte d’Ivoire, the DRC, South Africa, Nigeria, Ghana, Mauritius, and Kenya - reveals that social media platforms help accelerate economic growth and opportunity across the continent.
Shelf Drilling has secured a contract for the Baltic jack-up rig with Total E&P Nigeria for operations offshore Nigeria.
Carbon, the Pan-African fintech company providing access to basic financial services for Africans, announced a strategic five-year partnership with Visa, to offer both digital and physical issuance of Visa cards to its customers.
Africa Oil Corp announced it has received its seventh dividend from Prime Oil and Gas Cooperatief UA ("Prime"). The Company also announced significant increase in the Egina oil field production, offshore Nigeria.
African Infrastructure Investment Managers (AIIM), Adenia Partners and IFC have partnered to invest a total of $130 million to support Eastcastle Infrastructure (Eastcastle), a company specializing in Africa’s telecoms tower sector.
8,000 women and young Nigerians to benefit from RecyclePoints’ partnership with the Mastercard Foundation
RecyclePoints and the Mastercard Foundation announced a partnership to enable more than 8,000 women and young people to access work opportunities aimed at tackling the challenges associated with waste pollution and unemployment in underserved communities in Nigeria.
The Nigerian Content Development and Monitoring Board (NCDMB), the Nigerian National Petroleum Corporation (NNPC), and ZED Energy signed shareholders agreement on the construction of Brass Petroleum Products Terminal.
[Africa Tech Review] Duncan Mochama: MTN is investing $1.5 billion to expand broadband access across Nigeria
MTN announced plans to invest 640 billion naira, approximately US$1.5 billion, over the next three years to expand broadband access across the continent’s most populous country.
The Nigerian Content Development and Monitoring Board (NCDMB) and Nexim Nigerian Export-Import Bank have signed a memorandum of understanding on the administration of $30 million Working Capital Fund for oil and gas service companies.
San Leon announced a conditional investment of $2 million as well as an option to conditionally invest a further $6.5 million in the equity of Energy Link Infrastructure, the company which owns the Alternative Crude Oil Evacuation System project.
Under its new NGN300 billion Multi-Instrument Issuance Programme, Africa’s largest cement producer, Dangote Cement Plc has announced the successful issuance of 50 billion Series 1 Fixed Rate Senior Unsecured Bonds.
In response to high demand, Qatar Airways has increased its service to Nigeria’s financial centre, Lagos, to two daily flights starting from 1 July 2021.
MTN Nigeria plans to invest 640 billion naira, approximately US$1.5 billion, over the next three years to expand broadband access across the continent’s most populous country
FSD Africa Investments invests $4.5 million to support the scale up of off-grid energy access in African markets
FSD Africa Investments (FSDAi), the investing arm of FSD Africa, has invested $4.5 million in Nithio FI, a renewable energy financing intermediary focused on the Pay as You Go (PAYG) off-grid solar sector, to provide reliable and sustainable renewable energy solutions for households and small businesses in Kenya, Nigeria, and Uganda.
Danish dairy co-operative Arla Foods to build dairy farm in Nigeria to support local milk production
Danish Farmer owned dairy co-operative Arla Foods will build a commercial dairy farm in Northern Nigeria where it will also train and support up to 1,000 local dairy farmers.
Decklar Resources announced it has made significant progress in preparation for the Oza-1 well re-entry with the arrival of the drilling rig, camp, and all associated equipment at the site.
The Department of Petroleum Resources (DPR) has set up a programme to establish micro Liquefied Natural Gas (LNG) distribution centres across the 774 local government areas in the country.
IAA, Inc., the global digital marketplace connecting vehicle buyers and sellers, announced a strategic market alliance in Nigeria with Boacon Autos.
In demonstration of its responsiveness to global trends and the dynamics in the Information and Communications Technology ecosystem, the Nigerian Communications Commission (NCC) has initiated the process for the review of existing licensing structure in the Nigerian telecommunications industry.
Helium Health, the largest Electronic Medical Records (EMR) and Hospital Management Information (HMI) Systems provider in West Africa has announced the launch of its full suite of products and services in Kenya.
The Nigerian Communications Commission (NCC) has concluded the process for determining the cost-based price of Mobile International Termination Rate (ITR) to ensure healthy competition on traffic handling.
The Nigerian Exchange Group (NGX), announced the listing of Nova Merchant Bank Plc’s N10billion Bond.
The Nigerian Content Development and Monitoring Board (NCDMB) has approved four firms for the supply of Barites required for any drilling project or contract in the Nigerian oil and gas industry.
Oilserv, a provider of integrated engineering, procurement, construction, installation and commissioning (EPCIC) services in the oil and gas sector, chose SAP S/4HANA for a step change in productivity and accelerated business performance.
The bond listed is the NOVAMBL Investments SPV Plc N10billion Series I, 7-year 12percent subordinate unsecured fixed rate bond due 2027 under the company’s N50billion Bond Issuance Programme.
Nigeria, Kenya, South Africa are top drivers of eCommerce volumes in Sub-Saharan Africa, Visa research
A recent Visa report has shown that the top market contributors to eCommerce in Sub-Saharan Africa (SSA) over the last 3 years were South Africa, Nigeria, and Kenya, with Ghana also showing growth, having replaced Kenya in the top three contributors in 2020.
Nigeria “indefinitely suspended” Twitter‘s operations in the country on Friday last week after the company deleted President Buhari’s tweet.
A natural partner for the Trade Hub, Thrive Agric has already helped over 140,000 farmers in Nigeria increase their capacities to meet supply, quality, and food safety standards required by domestic and export markets.
Counterfeit products have a presence across major industries in Nigeria. The impact of having these counterfeit products for manufacturers range from dwindling sales and failed customer loyalty schemes.
It will provide world-class care to both low and high-income patient groups across the continent.
Lori Systems, Africa's e-logistics platform has announced the appointment of Uche Ogboi as its new Chief Executive Officer.
The award came a year after 2020 marginal field bid round began with 591 companies applying to win 57 oil fields on offer. The oil fields are located onshore, swamps and offshore.
Dangote Sugar Refinery Plc has urged government to faithfully follow through with the Backward Integration Policy in the sugar industry as the nation stands to rake in foreign exchange up to $700millon yearly from Sugar production self-sufficiency.
Victoria Epelle a fondé Market Forward il y a environ un an et la société a exécuté des projets à la fois locaux et internationaux et se fait un nom dans le domaine du conseil et de la gestion de projet.
Shell says the company will support the economy and earning power of the Rivers State and its people from the cassava value chain while utilising leading technology to process and create more added value from the household crop.
Over 65 percent of Nigerians are outside the financial services envelope, with millions unbanked or under-banked. The combination of COVID-19 disruptions and the widening digital divide in the rural and underserved areas has threatened the attainment of financial inclusion targets in Nigeria.
General Electric has announced the appointment of Dr. George Uduku, a Nigerian national, as the General Manager for West Africa
Afreximbank provided a grant of $350,000 to supplement the $450,000 made available by NEXIM, thus completing the financing of the barthymetric survey and hydrograhic and hydrological studies of the lower Niger-Benue river.
Africa’s data and marketing technology company, Terragon, has been listed as a verified Customer Data Platform (CDP) company by the CDP institute, having met the institute’s specific criteria for qualification as a RealCDP.
Victoria Epelle founded Market Forward about a year ago and the company has executed projects both local and international and is making a name for itself in the field of Consulting and Project Management.
Aside the sensitization campaigns held in Abuja, the NCC held similar events, in its zonal offices, across the country in furtherance of its commitment to promote the empowerment of young women through ICT.
The Federal Government has said it is expecting most of the marginal fields, which investors bid for in the recently concluded bid round, will achieve first oil starting from next year.
Decklar Resources announced that the company continues to make considerable progress on Nigeria's Oza-1 well re-entry with the camp and all associated infrastructure fully installed and operational.
A highlight of the partnership, which also grants MTN the right to use LaLiga’s brand name in Nigeria, is the launch of “LaLiga Trivia Nigeria,” a digital content platform that provides MTN customers with the league’s exclusive news
Rural Farmers Hub provides agricultural services to under-served smallholder farmers in Nigeria, some West African countries, and Namibia via its core product, Capture™
Other investments include the development of 5,000 metric tons LPG Storage and loading terminal facility by Triansel Gas Limited in Koko, Delta State and construction of Energy Park.
Inflow is built to be a personal finance management app with a clear difference; making it possible and seamless for people to view and manage their finances from just one app, in real-time.
Nigerian Exchange Limited hosted CardinalStone Partners Limited to a digital Closing Gong Ceremony to commemorate the listing of CardinalStone Financing SPV Plc’s debut N5bn, 5-Year Series 1 bonds.
Domineum, a London-based software development firm announced that it has entered into a partnership arrangement with nChain, a provider of data integrity solutions built by their in-house blockchain experts.
Many in the payments industry have been predicting so for years. That digital payments are inevitable for the future.
Fintech firm Flutterwave has partnered with Ethiopia’s mobile Digital Wallet platform, Amole, to facilitate money transfer into Ethiopia
Starsight Energy, the leading African Commercial and Industrial solar power provider, is delighted to announce the completion of a 950kW solar system for the Big Bottling Company plant in Ogun State, Nigeria.
IITA will be implementing the new project in four states—Kaduna and Kano for maize and Ogun and Oyo for the cassava value chain.
Nigeria recognises the reality of energy transition and is committed to accelerated development of its petroleum resources through the emplacement of appropriate legal framework.
Seven Nigerian Content Ministerial Regulations have been approved and gazetted, making them subsidiary legislations that can be implemented by the Nigerian Content Development and Monitoring Board.
Lagos Marriott Hotel Ikeja brings sophisticated spaces, enriching experiences and thoughtful service to the vibrant Nigerian city of Lagos.
The initiative calls on people who have an appreciation of local good food, to join Mastercard in supporting small businesses, local restaurants and community livelihoods in Abuja and Lagos.
Global science, technology and engineering solutions company KBR, Inc. has announced it will be supporting the development of Nigeria's first ever Floating Liquefied Natural Gas (FLNG) facility.
KBR announced it will be supporting the development of Nigeria's first ever Floating Liquefied Natural Gas (FLNG) facility, enabling economic growth and sustainability of the country's future energy supplies.
ADM Energy PLC has announced that it has completed the sale of 188,778 shares in Superdielectrics Ltd for a total consideration of £849,501, a profit of £656,003.55 on ADM's original investment.
In his welcome address the Chairman of the Bank, M.K Ahmad (OON) disclosed that the corporate goal of Polaris is to offer customers and non-customers of the Bank, a 24-hour seamless service using VULTe.
The Centre will be a facility with the capacity to offer testing, certification, inspection, and training services covering agricultural products.
Mondia, a private m-commerce company dedicated to connecting, digitalizing and monetizing mobile consumers, has announced the launch of Getmo Games, a new gaming service for MTN Nigeria subscribers.