The Legatum Center for Development and Entrepreneurship at MIT, has named South African startup Wala as the grand prize winner of the 2018 Zambezi Prize for Innovation in Financial Inclusion, as well as the regional winner of the MIT Inclusive Innovation Challenge.
Despite an economic slowdown, most African countries are reported to have a positive economic outlook. This is according The Institute of Chartered Accountants in England and Wales, ICAEW.
TE SubCom, a TE Connectivity Ltd company and an industry pioneer in undersea communications technology has secured a contract from connectivity and data center solutions provider, MainOne.
Africa’s entertainment and media industry has entered a dynamic new phase - a third wave of convergence.
International digital money transfer service WorldRemit has partnered with Access Bank for instant money transfers to Access Bank accounts in Nigeria.
Africa50 shareholders have approved the expansion of the Board of Directors to include at least half independent directors.
Kaspersky Lab has revealed the online activities of children across Nigeria, based on statistics from the company’s Parental Control modules.
Aster DM Healthcare, a leading integrated healthcare services provider in Asia, has entered into a partnership agreement with a leading university hospital in Nigeria.
The Insurance Sector in Nigeria enjoyed a steady growth with Premiums increased of 300 per cent from N75 billion to over N300 billion between 2005 and 2015
Boeing and Air Peace of Nigeria have announced a new order for ten 737 MAX 8 airplanes during a signing ceremony in Lagos.
Telecommunication company Orange and MainOne Cable Company have signed an agreement allowing for a major investment by Orange in the West Africa submarine cable system, MainOne.
Opera and Worldreader, the global nonprofit that believes everyone can be a reader, announced on the International Literacy Day that African mobile users have spent more than 4 millions hours of reading books on their mobile phones in 2018.
Union Bank of Nigeria has announced the registration of a N100 billion Debt Issuance Programme and the subsequent inaugural issuance of Series I and II Bonds under the newly registered Bond Programme.
The Nigerian National Petroleum Corporation has signed a Memorandum of Understanding in China with the China National Offshore Oil Corporation towards developing Nigeria’s oilfield services.
Conventionally one is prone to associate blockchain exclusively to cryptocurrency, often bypassing the technology’s versatility to solve a wider range of financial problems.
At first glance, it seems business as usual, but that could not be farther from reality. Business has never been more positive, rapid, nor disruptive.
Internet Solutions, a pan-African telecommunications services provider, has launched the first iDirect DVB-S2X network in Africa, which is currently live across more than 300 sites in Nigeria.
In Sub-Saharan Africa, countries with unreliable power cost some companies as much as 31 percent in sales, according to a new study released by the Center for Global Development.
Francis Vesta is Senior Investment Analyst at Itanna, an offshoot of the Honeywell Group in Nigeria.
Pan-African Financial Institution, United Bank for Africa has announced the commencement of its chat banker ‘Leo’ on the WhatsApp platform.
The Chartered Institute for Securities & Investment (CISI) and the Chartered Institute of Bankers of Nigeria (CIBN) are delighted to announce the signing of a cooperation agreement in London.
The Nigerian National Petroleum Corporation has signed a Memorandum of Understanding in China with Nigerian-Chinese consortia towards developing sustainable biofuels in the country.
Nigerian ISP start-up Tizeti and its consumer facing brand, Wifi.com.ng has closed a Series A round of $3 million.
As part of efforts to grow Nigeria's Information and Communication Technology sector, the Export-Import Bank of China will provide a loan of $328 million to support the country.
MainOne has reiterated its commitment to leading the digital transformation efforts of the Francophone region with an initial investment of $20m on cable landing and data centre projects in Cote D’Ivoire within the next 24 months.
The Nigeria Civil Aviation Authority has recorded over $16.98million as Ticket Sales Charge (TSC) from international airlines and over N9.16billion from local airlines between the months of January to August this year through its automation system.
China National Petroleum Corporation has assured the Group MD of the Nigerian National Petroleum Corporation, Dr. Maikanti Baru, of its commitment towards securing funding for the execution of the Ajaokuta-Kaduna-Kano pipeline project.
MainOne and data centre supplier Minkels – part of the publicly traded company Legrand have announced the second phase of the project.
During German Chancellor Angela Merkel’s visit to Africa, Volkswagen signed two memorandums of understanding with the governments of Ghana and Nigeria.
The Board of Directors of the United Bank for Africa has announced the appointment of four new members to its board, subject to the approval of the Central Bank of Nigeria.
In a bid to consolidate its foothold on the shipping business in Nigeria and boost profitability, the Nigerian National Petroleum Corporation has unveiled plans to set up a subsidiary to provide refueling services to ships and other ocean-going vessels.
Nigeria's Dangote has emerged the most valuable brand among the top 50 brands in Nigeria for 2018 which were unveiled in Lagos.
Volkswagen and the government of Nigeria have signed an agreement to develop a joint vision for an automotive hub in that country.
Nigeria’s Nahman Construction and California-based advisory and development firm StoneCreek Partners LLC have entered into a strategic alliance for joint pursuit of development opportunities in the Sub-Saharan Africa region.
From April to June, a total of 20.7 million transactions were carried out in the country through the mobile payment platforms.
Guinness Nigeria delivered has disclosed its performance in the year ended 30 June 2018, showing revenue increased by 14% from N125.92 billion in June 2017 to N142.98 billion.
Paystack, a Nigeria-based startup providing payments tools to businesses in Africa, has raised $8 million in Series A funding.
The Nigerian National Petroleum Corporation will establish two condensate refineries with a total refining capacity of 200,000 barrels per day at Western Forcados Area and Assah North Ohaji South Areas of Delta and Imo State respectively.
The Emerging Africa Infrastructure Fund (EAIF) has announced the financial close of its 11-year $35 million loan to Indorama Eleme Fertilizer & Chemicals Ltd.
Nigeria’s Gross Domestic Product (GDP) slowed in the second quarter of 2018, according to the National Bureau of Statistics.
The power of technology and fashion have combined in a thought-provoking project that demonstrates how data can transform African cities.
As the business world becomes more and more technology dependent, it has become impossible to separate that technology from any kind of development. Words like ‘investment’ and ‘startup’ seem inevitably connected to ICT.
Efforts by the Nigerian Stock Exchange (NSE), to woo multinational companies in the telecoms, and oil and gas sectors to list on the nation’s bourse may continue to ‘hit a brick wall’.
The Shell Petroleum Development Company of Nigeria says it has recovered over 95 percent of spilled oil from the recent spill incidents on sections of the Trans Ramos Pipeline in Aghoro community, Bayelsa State, and in Odimodi community in Delta State.
The Nigerian National Petroleum Corporation has emphasized that the execution of the strategic Ajaokuta-Kaduna-Kano gas pipeline project is progressing under the original concept of 100 percent contractor financing model.
Itanna will roll out four-month innovation programmes for tech-enabled Nigerian startups from its newly built Enterprise Factory in Lagos, with its pilot cohort of startups receiving USD $25,000 each in investment from Honeywell Group.
Zenith Bank has upgraded its Mobile App to include Qwerty Banking, a new feature that enables users perform banking transactions while chatting on any social messaging platform.
The Nigerian National Petroleum Corporation and Seplat Petroleum Development Company have signed five agreements to expedite the development of a project aimed at delivering about 3.4 billion standard cubic feet of gas per day by 2020.
Mines, a Nigerian fintech startup re-inventing credit in emerging markets, has closed a Series A round of $13M led by The Rise Fund, a global fund managed by TPG Growth.
To enhance the ease of doing business (EODB) and technology inclusiveness for Small and Medium Enterprises (SMEs), Madesoftlogic has unveiled ESOPOS, a cloud based Point of Sale (POS) software.
In recent times, there is a growing recognition of the important role that small and medium-scale enterprises (SMEs) play in the economic growth and development of Nigeria.
As part of their shared mission to boost financial inclusion throughout Nigeria, financial inclusion company, Oradian, and the Association of Non-Bank Microfinance Institution of Nigeria, ANMFIN, have launched a strategic partnership.
Guaranty Trust Bank plc has released its audited financial results for the period ended June 30, 2018 to the Nigerian and London Stock Exchanges.
A Nigerian has harnessed the power of apps to bring Nigerians a social media app with a twist.The app is Worldjunction for iPhone and the developer company is Worldjunction LLC from Nigeria.
The Nigerian Stock Exchange has launched X-Pay, the e-payment platform for the Exchange that will enable users to conveniently make payments for products, services, events and trainings offered by the bourse.
The Management of the Nigerian National Petroleum Corporation (NNPC) has distanced the national oil company and its Group Managing Director, Maikanti Baru, from the ongoing political tango in the National Assembly.
The African Development Bank in partnership with the Federal Government of Nigeria has inaugurated a Task Force to drive its first Public-Private Round Table on Youth Employment and Skills Development.
International organisations have shown an increased interest in the Nigerian economy since the stablization of the dollar and the exit from the recent crisis that befell the country.
A new African construction entity, Mota-Engil Nigeria, has been formed to catalyze growth in the local market by focusing on execution of construction contracts and trade enabling infrastructure.
SAP Skills for Africa has kicked off its first ever programme in Nigeria at an orientation event held in Lagos.
In Nigeria, a country of nearly 200 million people, 61% of the adult population is un- or underbanked.
Google has launched a Google Station to provide high quality, high-speed Wi-Fi hotspots in Nigeria.
The Turkish Exporters Assembly and Lagos Chamber of Commerce and Industry yesterday inked a memorandum of understanding at the Turkish-Nigeria Business Forum in Lagos, Nigeria's commercial capital.
The quick passage of a law on factoring in Nigeria is a crucial step in facilitating the ease of doing business and procuring the trust of investors in the country, guests heard recently during a public hearing held at the National Assembly in Abuja.
Diamond Bank's second quarter unaudited financial report for the period ended June 30, 2018 has been released to the Executive Management and the Nigerian Stock Exchange (NSE).
Shell Nigeria Exploration and Production Company Limited (SNEPCO) has donated four ultramodern science laboratories to Eruku Secondary Commercial School in Ekiti Local Government area of Kwara State.
Nigeria, Africa's most populous nation, will be the first on the continent to receive Google's free public Wi-Fi service, the company has announced.
Oando has announced its unaudited results for the six months period ended June 30, 2018. Commenting on the results Wale Tinubu, Group Chief Executive, Oando PLC said:
As industries grow, so does the job market, consumer satisfation and investor confidence. Nigeria is gaining a reputation as fertile ground for both business expansion and takeoff point for startups.
Out of the $560 million technology startup investments that entered Africa in 2017, Nigeria earned $114.6 million.
The Nigerian Stock Exchange (NSE) has announced the listing of the N10.69billion, approximately $30 million, 5-year, Federal Government Sovereign Green Bond at coupon rate of 13.48% on the Exchange by Debt Management Office, DMO.
Allianz Group has announced the completion of the acquisition of 99.03 percent of the shares in Nigerian insurer Ensure Insurance from its core shareholder Greenoaks Global Holdings.
The Raw Materials Research and Development Council and the Association of Agricultural and Industrial Entrepreneurs of Nigeria recently signed a Memorandum of Understanding to collaborate in rural agro-industrial development.
Nigeria has unveiled a new national carrier, nearly 15 years after the previous state-run airline, Nigerian Airways ceased operations. The new airline will be known as Nigeria Air.
Lafarge Africa Plc has recorded net sales of N162 billion, about $448 million, for the first half 2018 and N82 billion, approximately $226 million, for the second quarter of 2018.
Andela, the company building high-performing engineering teams with Africa's most talented software developers, has launched a pan-African technology hub in its fourth African market: Kigali, Rwanda.
As part of its contribution towards building a financially savvy generation, The Nigerian Stock Exchange has partnered with Kinabuti Fashion Initiative to empower young people with entrepreneurial skills and financial literacy.
Nestlé Nigeria’s Managing Director and Chief Executive Officer, Mr. Mauricio Alarcon has been appointed as second Vice President of Nigeria Employers Consultative Association (NECA).
Universal Music Group (UMG), the global music-based entertainment company has announced a significant expansion of operations within Western Africa, with the launch of Universal Music Nigeria.
The Board of Directors of Ecobank Transnational Incorporated (ETI) has appointed Patrick Akinwuntan as the Managing Director & Regional Executive - designate of Ecobank Nigeria, subject to applicable regulatory approvals.
Nigeria Customs Service is among the global early adopters of the Oracle Blockchain Cloud Service which has recently been introduced.
The Nigerian National Petroleum Corporation has commenced comprehensive community integration and stakeholders’ engagement to sensitize dwellers of Iwure, Ojor and Osomba/Akin communities of Cross River State.
Union Bank has announced the launch of the We Lead Mentorship Project an 8-month youth mentorship program, in Igbodo, Delta State.
All financial institutions operating in the country have been mandated by the Central Bank of Nigeria to furnish it with their daily transaction data through the Nigeria Inter-Bank Settlement System.
Biometrics platform SmilePass have partnered with Kwara State in Nigeria to launch a Universal Health Insurance Program that will bring primary medical care to the rural state’s 3 million citizens at the flash of a face.
Total Nigeria has partnered with Ecobank to improve the m-payment solutions offered to customers across Nigeria.
The Management of China National Offshore Oil Corporation has expressed readiness to invest additional $3billion in its existing stakes in offshore oil and gas operations in the Nigerian jurisdiction.
American Block, a global designer, and manufacturer of oilfield drilling, well servicing, and marine lifting equipment, has expanded distribution in Nigeria through partnership with Oiltools Africa, an AOS Orwell company.
There is no shortage of opinions with regards to what needs to be done to improve economies of Africa. Experts from diverse fields advocate for different solutions, some tailored to fit their field interests, others seeming to stem from a place of general betterment.
The Nigerian National Petroleum Corporation (NNPC), Shell, Total and Eni have signed the Front End Engineering Design contract of Train 7 of the Nigeria Liquefied Natural Gas on Wednesday in London.
The African Trade Insurance Agency (ATI) has urged Nigeria and other countries to focus on de-risking their economies to drive future investment growth.
At a time when the electricity needs of Africa continue to outstrip available supply, a company in Nigeria is investing in providing low cost, clean and sustainable energy to especially those not connected to the national grid.
TFhost, the leading Domain Name registrar and Hosting Service Company has emerged as the overall best local hosting company in Nigeria for the year 2018.
Olam Hatcheries, a subsidiary of Olam International, an agri-business multinational, has announced the signing of a memorandum of understanding (MoU) with Ceva Santé Animale S.A, an international veterinary health research company.
MainOne, West Africa’s leading connectivity and data centre solutions provider has appointed Etienne Kouadio Doh as General Manager, Francophone West Africa.
In line with its Economic Recovery and Growth Plan, the Buhari administration would be actively supporting Google's Next Billion users plan intended to ensure greater digital access in Nigeria and around the world.
The 7CGDP is an integral leg of the gas development strategy designed by the Nigerian National Petroleum Corporation to leverage the full potential of gas to meet the target of generating at least 15 gigawatts of electricity by 2020.
MTN Nigeria’s bid to be listed on the Nigerian stock exchange has been approved to go ahead after weeks of delay by Nigeria’s Securities and Exchange Commission (SEC).
Diamond Bank has announced the appointment of Mr. Oluseyi Bickersteth as the new Chairman of the Board of Directors effective June 26, 2018.
Economic Commission for Africa (ECA) Executive Secretary, Vera Songwe has urged Nigeria to join the African Continental Free Trade Agreement (AfCFTA) movement.