Mobile money has turned into the main money rail across parts of Africa. The shift looks simple on the surface, but it is big: How Mobile Money Became More Powerful Than Banks in Parts of Africa is now a real business story, not a slogan. Telecom-led wallets, agent points, and quick transfers have reached markets […]
A Bahraini entrepreneur has announced the opening of a new smart cities management firm to transform the way modern cities work and develop. The company that has been created aims at providing holistic digital solutions that improve mobility, infrastructure effectiveness and experiences among citizens. The firm is a total ecosystem that integrates technology, automation and […]
Oil prices fell sharply on Monday, after OPEC members failed to strike a deal with oil-exporting countries and Russia. Moscow refused Friday to further reduce crude oil production, to stem the fall in prices linked to the coronavirus epidemic, which has provoked the wrath of Saudi Arabia. In response, Riad lowered the price of a […]
Ecobank Nigeria, Managing Director, Patrick Akinwuntan (middle), on his left, Executive Director, Commercial Banking, Carol Oyedeji and other female Ecobankers during the Bank’s commemoration of this year’s International Women’s Day (IWD) at the Bank’s head office Managing Director, Ecobank Nigeria, Mr. Patrick Akinwuntan has reiterated the bank’s commitment to gender parity among staff. In a […]
It would be remiss to paint the African continent with one brush as many countries are at varying stages of their macroeconomic and political cycles, according to Franklin Templeton Emerging Markets Equity’s Danesh Ranchhod. He highlights some developments happening right at the heart of these economies, and explains why investors should consider opportunities in this […]
A Maltese company has invested in a pharmaceutical laboratory in Ghana that will be able to produce medicines in line with European standards. Chief Executive Officer of Evolve, Chris Busuttil was part of the latest Maltese trade mission to visit the West African country. The delegation was led by Economy Minister Silvio Schembri. “Ghana was […]
Former Nigeria Minister of Finance , Dr. Ngozi Okonjo-Iweala has been called by the South Africa’s government to help rescue the nation out of recession. South Africa is currently experiencing economic downturn as it entered its second recession in two years, and Okonjo-Iweala is the woman the nation has consulted to help rescue it from […]
The International Monetary Fund, (IMF) and World Bank Group on Wednesday announced other measures to curb the impact of the coronavirus on the world’s economy and health. “We know the disease is spreading quickly with over one-third of our membership affected directly. This is no longer a regional issue. It is a global problem calling […]
Over the years, Nigerian startups have come up with solutions across several sectors from financial services to logistics and agriculture. Increasingly however, its health sector is also coming into focus as startups look to build profitable business around existing gaps in healthcare delivery while also making a lasting impact. With a shortage of medical practitioners […]
The coronavirus has sent global markets to a stand still as its ramifications to a swath of businesses and industries becomes more apparent. Companies that make and sell products are struggling to secure supply lines as business people face one of the most devastating moment in global economy. Globally, the airline industry is set to […]
The South African economy shrank by 1.4% in the fourth quarter of 2019, according to recent Gross Domestic Product numbers, released by Statistics SA on Tuesday March 3. This followed a contraction of 0.8% in the third quarter, which means that the economy was in recession for the last half of 2019. South Africa last […]
The management of Lagos Airport Hotel, Ikeja, has debunked claim by Lafarge Plc that the Italian who brought Coronavirus to Nigeria first slept at the hotel before coming to the company in Ogun State. The Lagos Airport Hotel management described the report as a lie and untrue, as no Italian ever visited the hotel as […]
United Bank for Africa Plc (UBA) has posted a profit after tax of N89.1 billion for the financial year ended Dec. 31, 2019. The profit after tax represented a growth of 13.3 percent to N89.1 billion compared with N78.6 billion recorded in the correpsonding period of 2018. Its profit before tax stood at N111.3 billion […]
Access Bank Plc’s merger with Diamond Bank in April 2019 and its recent expansion into the East African market have started to yield results. Now it has been named as one of the top 500 global banking brands, according to leading business valuation and strategy consultancy, Brand Finance. Access Bank has, according to its website, […]
Today, Patricia launched its exclusive and eagerly awaited PATRICIA BITCOIN ATM CARD, and as some users will call it, Africa’s First Bitcoin card; a global initiative that simplifies the way that its current and new users interact with bitcoin, giving them access to do everyday financial transactions at the swipe of a card. The firm […]
Dangote Cement exports from Nigeria to neighbouring countries fell 41% in 2019 when Nigeria’s government closed the land borders. The development has made the dominant cement company in Africa move its exports to Congo Republic, producing from plants in those countries. Nigeria shut its land border in August to curb the smuggling of rice to […]
The port of Pointe Noire is constantly expanding. President of the Republic of Congo Denis Sassou Nguesso on Wednesday inaugurated new infrastructure for the Congo terminal. It is the concessionaire of the Autonomous Port of the Congolese economic capital. Managers of the port hope this will further consolidate its position as a transit country. “The […]
Talal Abu-Ghazaleh International Organization, said that Egypt’s economy is set to become the sixth strongest in the world by the year 2030, during an interview with Russia Today (RT) on Thursday, February 20. Highlighting a US study, Ghazaleh pointed out that Egypt will follow close behind the globe’s major economies in 2030, such as China, […]
MCAs want county assemblies to be financially independent in proposals to the Building Bridges Initiative. The County Assemblies Forum said the county assemblies’ financial autonomy was key to the proper dispensation of their mandate as well as respect for separation of powers. The forum is pushing for a complete financial de-linking of county legislatures from […]
Finance Minister in an interview with the Sunday Mail said the mono currency situation is here to stay and the government wants to enforce the use of the Zimbabwe Dollar and they will penalise those who deviate from charging and pricing in local currency. Said Professor Mthuli: Zimbabwe is in a mono-currency situation. We introduced […]