The Sahara Group and UNDP are joining forces to promote reliable access to affordable and sustainable energy across Africa.
Nigeria-based Value Seeds tops the rankings in new research on seed companies operating in Western and Central Africa.
Guaranty Trust Bank plc has released its unaudited Financial Results for the quarter ended March 31, 2019 to the Nigerian and London Stock Exchanges.
Nigeria aviation and marine logistics player Caverton Helicopters Limited has picked global aviation software provider Ramco Systems to digitize the maintenance and engineering operations.
[Nigeria] Thor signs $78 million financing package with Africa Finance Corporation for construction of Segilola Gold Project
Mineral exploration company Thor Explorations Ltd. has received investment committee approval from and executed an agreed term sheet with the Africa Finance Corporation for a $78 million financing package.
Farmgate Africa, Nigeria’s agro-commodity aggregator platform has announced its partnership with Livestock247.com, an online Livestock Market.
FCMB Group has released its financial results for the year ended December 31, 2018, reporting a gross revenue of N177.4 billion, an increase of 4.3%.
Nigerian financial technology company, Global Accelerex, has launched its Agency Network Platform, a web-based business solution specially developed for agency banking business.
Broadband service provider Smile Communications Nigeria has concluded an international data roaming agreement with NUU Mobile (HKG) Limited.
The Board of the African Development Bank has approved a $15-million investment package to Infrastructure Credit Guarantee Company to support infrastructure financing in Nigeria.
The Nigerian National Petroleum Corporation (NNPC), has said that it would support the Federal Government's initiative to diversify the nation’s economy through agriculture.
A group comprising of academic scholars and representatives of Central Banks of Member States from ECOWAS have reviewed the TOR to recruit a consultant towards the development of the design of the ECOWAS single currency.
Paylater, the Nigerian fintech company specializing in consumer lending, has confirmed its name change in light of its growing banking services.
Kemi Ayinde is co-founder and CEO of Heathpoint, a company making healthcare, through the use of technology, widely accessible and affordable in Nigeria.
Oando, Nigerian indigenous energy group, has divested its residual 25% interest in Axxela Limited to Helios Investment Partners, a private equity firm with a focus on investments in Africa.
Over $6.397 billion was paid to the Nigerian government and its agencies in 2018 by Shell exploration and production companies in Nigeria.
BeepTool, an indigenous tech start-up based in Lagos Nigeria has unveiled m-naira App, designed to bridge the gap in financial inclusion, mobile payment and remittance space.
Siemens launches data visualization project that transforms Africa’s urban centers into smart cities
Siemens has launched an extraordinary data visualization project called FABRIC.
One hundred and sixty young women have begun a month-long coding class on two Nigerian campuses under a new programme to give African youth digital skills for the work force.
Nigeria's digital agriculture platform Farmcrowdy Group has launched a new subsidiary, Farmgate Africa, a technology-driven agro-trading market place for agriculture commodities in Africa.
Embraer has signed a firm order for 10 E195-E2 jets with Air Peace, Nigeria's airline. The order was announced during the Embraer's Africa Airline Business Seminar, in Mauritius.
The Nigerian Content Development and Monitoring Board (NCDMB) and the Nigeria LNG Limited (NLNG) have signed the Nigerian Content Plan (NCP) for NLNG’s Train 7 project.
Jiji and OLX announced that both companies have reached an agreement under which Jiji will acquire OLX businesses in Ghana, Kenya, Tanzania, and Uganda, pending certain regulatory approvals.
Nigeria’s effort at ensuring local sufficiency in refined petroleum products is bolstered with the formal commencement of the first phase of the rehabilitation of the 210,000 barrels per day capacity Port Harcourt Refinery complex.
Canon Central and North Africa has signed a 3 year partnership agreement with Yaba College of Technology to support students in their professional development by conducting print workshop training with Canon specialists.
The Shell Petroleum Development Company of Nigeria Limited has upped its contractor support fund with $200 million in a latest effort to boost the financial capacity of vendors and suppliers in Nigeria’s oil and gas industry.
The Internet Exchange Point of Nigeria (IXPN) has become a regional internet exchange with the support of the African Union Commission.
IFC has announced that it has signed an agreement with Africa RE, to help thousands of small holder Nigerian farmers more easily access insurance to protect their crops and livelihoods.
Rwandan President, Paul Kagame and Globacom's Executive Vice Chairman, Mrs Bella Disu, have initiated discussions on the use of digital technology to help the march towards economic prosperity in Africa.
Farmcrowdy, a Nigerian agritech company has raised an additional $US 1 million in funding from international investors Cox Enterprises and Techstars, along with local investor Ajayi Solutions.
AXEON Water Technologies,has announced the appointment of ADEKHA as an authorized distributor and strategic partner for the Middle East and African regions.
Amplified Payments, a fintech company that builds and facilitates payment solutions and digital financial transactions in Nigeria, has been acquired One Finance.
The Nigerian National Petroleum Corporation (NNPC) has said that the Oil Industry will achieve the 2.3million barrel per day production volume-target for the 2019 budget, assuring that measures have been emplaced to attain the set mark.
A big percentage of Nigerians are unemployed because they don’t have the right skills and network that can help them land the job of their dreams, a survey by MyJobMag has revealed.
Nigeria’s Access Bank Plc has issued the first certified corporate green bond in Africa, raising Nira 15 billion (US$ 41 million).
Farmcrowdy, Nigerian digital agriculture platform which allows Nigerians to invest in agriculture, has closed on additional seed funding of $1 million.
The Founder Institute, an idea-stage accelerator and startup launch program has launched a new chapter in Lagos, Nigeria targeting to work with 20 tech startups annualy.
Google has announced the 12 African startups that will take part in its third Launchpad Accelerator Africa programme
The Chartered Institute for Securities & Investment (CISI) has announced the launch of its Nigerian National Advisory Council (NAC).
Nigeria’s airfreight sub-sector is set for a major boost as Peacock Aviation and Allied Services teams up with Turkish Airlines Cargo to deliver efficient and on-time cargo services.
Access Bank and Diamond Bank say the Central Bank of Nigeria and the Securities and Exchange Commission have given them the final approval to merge.
The Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Maikanti Baru, has stated that more than 41billion barrels of crude oil and 319trillion cubic feet of gas are yet to be discovered in Sub-Saharan Africa.
Nigeria’s largest online vehicle trading platform, Cars45, has partnered with ENYO Retail and Supply, an innovative fuel retail brand, to increase its retail footprints.
Access Bank Plc has announced the approval of its proposed merger with Diamond Bank Plc by shareholders of the Bank.
Dangote Fertilizer Limited has entered into a long-term agreement with Chevron Nigeria Limited (CNL) for the delivery of Natural Gas from Chevron's supply portfolio to the fertilizer plant.
To mark the 30th anniversary of the invention of the worldwide web, Africa-focussed venture capital firm TLcom hosted Internet founder and pioneer, Sir Tim Berners-Lee in Lagos.
BitMinutes Inc., a financial services technology company (FinTech) that leverages blockchain and tokenization launched in Nigeria a few weeks ago and has caught the attention of the locals.
Aurecon has selected Orange Business Services, a global technology integrator, to manage its global communications infrastructure.
The Nigerian Stock Exchange and Meristem Securities Limited have announced the launch of two new style indices, the NSE-Meristem Growth Index and NSE-Meristem Value Index.
The Nigerian National Petroleum Corporation has expressed its preparedness to build additional Independent Power Plants (IPP) in Abuja, Kaduna and Kano which is expected to add 4,0000 megawatts of power to stabilize the national grid.
OneFi has secured a $5M debt facility for its consumer facing platform, Paylater. The facility comes from New York and Nairobi-based Lendable, a technology-enabled funding provider to African consumer and SME lenders.
The Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Maikanti Baru, has urged investors to utilize the $48b investment opportunities available in the upcoming capital projects within the Oil and Gas Industry.
As part of its merger benefits to customers, Diamond Bank, Nigeria's leading retail Bank has introduced PayDay Loan to ease the financial burden of customers.
Nigerian firm Pan African Towers (PAT) Limited has signed a $20 million infrastructure investment deal with Canadian firm, Watt Renewable Corporation.
The Nigerian National Petroleum Corporation has expressed its preparedness to build additional Independent Power Plants in Abuja, Kaduna and Kano which is expected to add 4,0000 megawatts of power to stabilize the national grid.
[South Africa] Sanlam remains resilient amid challenging operating environment, Sanlam annual results
Sanlam’s 2018 annual results provides testimony to its resilience amid challenging operating conditions and negative investment markets as it announced its operational results for the 12 months ended 31 December 2018.
NINE from Nigeria, RiseUp from Egypt, and 22 On Sloane from South Africa have been named as the official Western, Northern, and Southern Africa regional for Jack Ma’s Africa Netpreneur Prize Initiative (ANPI) partners.
TeamApt, a Nigerian fintech company that provides digital solutions and payment infrastructure for Africa, has closed on a $5.5M Series A round, led by Quantum Capital Partners.
Jumia has signed an important partnership with technology leader Xiaomi at the Mobile World Congress in Barcelona, giving millions of users in Africa easy access to Xiaomi products.
South African Airways has enhanced connectivity for its customers travelling to, from and beyond the West Africa region following the successful completion of a MOU with Africa World Airlines, the airline’s Ghanaian partners.
Aliko Dangote’s $17 billion net worth makes the Nigerian the richest person in Africa and the only member of the Bloomberg Billionaires Index from one of the 60 poorest countries.
The African Export-Import Bank has upgraded its compliance function to a full department, naming long-serving banker Maureen Mba as Director.
Sirius has announced that it is in advanced stages of discussions on funding which will enable it to conclude a funding facility to be deployed towards the execution of a minimum work programme commitment on the Ejulebe field.
Growth in hardcopy peripherals shipments across META highlights continued potential for print, IDC study
The overall META hardcopy peripherals market posted robust year-on-year growth in both units and value in 2018, according to the latest insights from IDC.
GSMA has unveiled its eighth annual ‘State of the Industry Report on Mobile Money’, offering a current snapshot of the mobile money landscape.
The NSE in conjunction with Fund Managers Association of Nigeria; Association of Stockbroking Houses of Nigeria and The Central Securities Clearing System, have launched the NSE Mutual Fund Trading and Distribution Platform.
MainOne has announced a metro fiber infrastructure project in two states of Nigeria, with support from Facebook.
Agriculture and technology working together create a environment condusive to efficiency, empowerment and health. This is the mandate at PS Nutraceuticals, co-founded by Samson Ogbole.
The African Export-Import Bank has appointed Humphrey Nwugo as Regional Chief Operating Officer for its Harare-based Southern Africa Regional Office.
Telecoms company, Globacom, has announced a new product, Glo Mobile Money, which will help accelerate financial inclusion to over 60 million unbanked people in the country within a short time.
A major step on attaining sufficiency in domestic gas supply was taken by the Nigerian National Petroleum Corporation with the execution of FID on the development of the 4.3trillion cubic feet Assa North/Ohaji South Fields in OML 21.
The African Development Bank has kicked off a feasibility study to explore the potential of electricity cooperative business models in Nigeria and Ethiopia.
Jude Menes is a Nigerian-American attorney and founder of Menes Konsult Firms, in partnership with Europlaw, a group of firms dedicated to advising and guiding foreign investors and relations in Africa.
The Shell Petroleum Development Company of Nigeria Limited (SPDC) and its joint venture partners signed a Final Investment Decision agreement for a 300 million cubic feet of gas on Wednesday in Abuja.
Nigeria and the Republic of India have pledged to work more closely to enhance energy security of both countries.
Azuri and First Bank of Nigeria Limited have announced a unique partnership that will help deepen financial inclusion in Nigeria while bringing affordable, reliable and clean power to millions of Nigerians.
The United Bank for Africa (UBA) has partnered with Google and ISP partner to unveil Google Station in 11 UBA branches in Lagos State as part of plans to roll out 200 stations in the country.
Esther Dumbiri put her talent with words and colors to good use by starting a publishing firm over a decade ago, a firm that has grown in leaps and bounds.
Avanti Communications and MainOne have signed an agreement to improve broadband penetration across Nigeria by providing the latest KA-band based satellite communication services to enterprises located in remote areas of the country.
A total of 735 Million Standard Cubic Feet of gas per day (mmscfd) was delivered to gas fired-power plants in November 2018 compared with October 2018 where an average of 627mmscfd was supplied.
Nigerian telecommunications Globacom has announced that the company will be rolling out its Glo2 fibre optic infrastructure in 2019 from Lagos to Niger Delta states
ECOWAS) and AfDB have signed the $22.7 Million grant retrocession agreement for the 6-lane Abidjan-Lagos Corridor Development Project in Abuja, Nigeria.
Facebook has partnered Dubawa, a Nigerian Online platform, to intensify the fight against fake information in the country.
Africa's largest urban developer, Rendeavour, in partnership with the Lagos State Government, has broken ground on a new satellite city development.
Moran Family of Brands, an international franchises of general automotive repair, transmission repair and driver safety products, has announced the addition of its first international location in Nigeria.
Global beverage company Coca-Cola Company has completed its acquisition of Chi Ltd. in Nigeria.
Nigeria based airline Green Africa Airways has announced that Mr. Gbenga Oyebode has joined its Founding Board of Directors.
The Nigerian National Petroleum Corporation has proposed collaboration among African countries in the area of oil and gas infrastructure in order to remain competitive on the global stage.
A new analysis by Global Financial Integrity (GFI) indicate that Illicit Financial Flows (IFFs) due to trade misinvoicing, is a significant and persistent drag on 148 developing countries’ economies.
Sirius has signed an agreement with Barak for the provision of a US$20 million debt facility, to contribute to the funding of the first phase (Ororo-2 and Ororo- 3 wells) of the Ororo field development.
Andela, the company building distributed engineering teams with Africa’s top software developers, has announced the completion of a $100M Series D funding.
Renmoney, Nigerian fintech company, has deployed Freshworks customer engagement software to set up an integrated support and CRM system.
Nigeria’s latest entrant into the aviation industry, Green Africa Airways has appointed Joshua Koshy as its Chief Financial Officer.
The Nigerian Stock Exchange (NSE) and Afrinvest Securities have announced the launch of two new factor indices: the NSE-Afrinvest Banking Value Index and NSE-Afrinvest High Dividend Yield Index.
CDC, the UK’s development finance institution, has announced a new investment designed to support high-growth SMEs in Nigeria.
The Federal Government in Nigeria will soon start sourcing foreign exchange (forex) from Dangote Group, as soon as the latter's refinery, petrochemicals and fertilizer projects come on stream.
Ecobank Transnational Incorporated (ETI), parent company of the Ecobank Group, has appointed Ms. Arunma Oteh to its Board of Directors as a Non-Executive Director.
The Nigerian National Petroleum Corporation has sought effective collaboration with members of the African Union of Transportation and Logistics Organization to halt incidents of cross-border leakages of petroleum products.
Nigeria’s NEM Insurance Plc has announced that Advanced Finance and Investment Group has completed an investment in the Company, by acquiring 29.9% of the Company’s shares.
The Nigerian National Petroleum Corporation (NNPC) is set to implement effective commercial framework that would halt the export of major components used in the production of cooking gas.