Africa Local Market DFI Signs Off On Investment In Knife Capital’s Latest Fund February 14, 2022 akintunde Knife Capital, a South African venture capital firm, is raising a $50 million fund for startups looking to raise Series B financing. With Knife Fund III called the African Series…
Local Report: Ghana, Kenya to face debt risks in next two years February 14, 2022 akintunde Standard Bank Group Limited says five major African economies will face debt risks over the next two years as pandemic reliefs for needy countries draw to an end. The lender…
Africa Business Novastar Ventures Leads Seed Round For Kenya-Based BasiGo February 14, 2022 akintunde Kenyan-based electric vehicle technology and financing startup BasiGo has closed a $4.3 million seed funding round. The funding was led by Novastar Ventures with participation from several Silicon Valley investors…
Africa Investing Local General Atlantic Makes First African Technology Investment February 14, 2022 akintunde The pandemic has accelerated the use of telemedicine, virtual care and drug delivery, thus fuelling investor interest in the sector. Investment has also trickled down to Africa, with large checks…
Business Local Afreximbank’s FEDA Backs Mauritanian FMCG Business February 14, 2022 akintunde African Export-Import Bank (Afreximbank) has announced an investment by the Fund for Export Development in Africa (FEDA), its development impact-oriented subsidiary, into TND SA, a leading FMCG Company in Mauritania.…
Market World Oil Price Rises To $95 A Barrel Amid Russia-Ukraine Tensions February 14, 2022 akintunde Brent crude oil rose to $95 a barrel for the first time since October 2014 amid between Russia and Ukraine. Brent crude futures, the global oil benchmark, climbed 3.9 percent…
Business Technology World Apple To Raise Salary Of Its US Retail Employees February 14, 2022 akintunde Apple Inc is raising the pay of many U.S. retail employees effective this month, Bloomberg News reported on Friday. The hikes range from 2% to 10% depending on store location…
Business Local Trade World EU Is Nigeria’s Largest Trading Partner, Says Envoy February 14, 2022 akintunde The European Union Ambassador in Nigeria, Samuela Isopi, has said the EU bloc is the largest trading partner and key investor in Nigeria. Isopi said this during a meeting with…
Business Market World UK Economy Grew 7.5% In 2021, Mostly Recovering From Its Pandemic Plunge February 11, 2022 akintunde The British economy grew 7.5% in 2021, official figures revealed Friday, rebounding from its historic 9.4% plunge in 2020 when pandemic restrictions stifled activity. On a quarterly basis, U.K. GDP…
Local Market NNPC May Spend N201bn To Clean 170.25m Litres Of Dirty Fuel February 11, 2022 akintunde The Nigerian National Petroleum Company Ltd. may need an estimated N201 billion worth of clean Premium Motor Spirit (petrol), to bring 170.25 million litres of adulterated products imported into the…
Local Petrol transporters gradually halt operations over low freight rates February 11, 2022 akintunde Transporters of PMS on Thursday said the nationwide scarcity of PMS was partly due to the gradual halt in the operations of truck owners. PMS transporters have stopped transporting the…
Business Local Market Trade Naira Exchanges At N417.51 To $1 Officially February 11, 2022 akintunde The naira continued its downward trend as the dollar was sold for N417.51 at the official market on Thursday. This was contained in data obtained from the Central Bank of…
Business World Delivery Hero CEO Apologizes To Investors After Share Drops By 30% February 11, 2022 akintunde The boss of European food delivery firm Delivery Hero has apologized to investors after shares of the company plummeted more than 30% on disappointing earnings guidance for 2022. “Today our…
Banking Local FirstBank Felicitates With Junior Achievement Nigeria On Nobel Peace Prize Nomination February 11, 2022 akintunde In recognition of the giant strides and efforts by Junior Achievement Worldwide – the parent body of Junior Achievement Nigeria and other Junior Achievement across 119 countries – in equipping…
Local NUPENG threatens strike, alleges FG fails to fix 21 highways February 11, 2022 akintunde The Petroleum Tanker Drivers branch of the Nigeria Union of Petroleum and Natural Gas workers on Wednesday threatened to begin a sudden nationwide strike. The union protested the failure of…
Business Local Technology MTN Pays $253.86 Million Balance To NCC For 5G Licence February 11, 2022 akintunde MTN Nigeria has paid the remaining $253.86 million to complete the $273.6 million fifth generation (5G) licence fee to the Federal Government before the February 24 deadline, an industry source…
Local Audit query: Reps summons ITF boss over four-year unapproved spending February 11, 2022 akintunde Acting DG Mrs Adesola Taiwo of Industrial Training Fund was summoned by the House of Representatives Committee on Public Accounts. Adesola was invited, over the operation of the agency’s budgets…
Business Technology World Tesla To Recall 578,607 Vehicles In United States February 11, 2022 akintunde Electric car maker Tesla Inc (TSLA.O) is recalling 578,607 vehicles in the United States because pedestrians may not be able to hear a required warning sound of an approaching car…
Local NIMC portal: Telcos bow to pressure, begin server configuration to vNIN platform February 11, 2022 akintunde Telecommunication operators have begun preparations towards migrating to the Virtual NIN platform in a bid to resolve the technical difficulties that have grounded the NIMC portal. This is coming about…
Local NBC grants TV broadcast licence to NYSC February 11, 2022 akintunde The National Broadcasting Commission has granted an operational licence to the National Youth Service Corps for the commencement of direct satellite broadcasting and Internet protocol television. The NYSC Director-General, Major…
Local Nigeria, others miss oil production targets as disruptions persist February 11, 2022 akintunde The Organization of the Petroleum Exporting Countries and its allies continue to underperform their increasingly lofty oil production targets. With a group falling record of 700,000 barrels per day short…
Investing Local French Startup Alma Raises €115M to fund Expansion Across Western Europe February 11, 2022 akintunde French buy-now-pay-later platform Alma raised 115 million euros ($131 million) in equity funding as it seeks to speed up its expansion in Western Europe. Alma’s latest fundraising round also drew…
Local Telcos begins NIN verification as Galaxy Backbone downtime continues February 11, 2022 akintunde As the NIMC portal continues to experience downtime due to a technical glitch, telecom companies have resumed SIM verification services. Telcos began preparations and arrangements to reconfigure their systems in…
Banking Local CBN to stop forex sale to banks by December targets $200bn non-oil exports February 11, 2022 akintunde The Central Bank of Nigeria has revealed that it will stop the sale of foreign exchange to Deposit Money Banks by the end of the year. The CBN Governor Godwin…
Local NNPC, Sahara Group, Edo begin 16.7km Edo road project February 11, 2022 akintunde The Nigerian National Petroleum Company together with one of its joint ventures partners, Engaged Resources Limited flagged off a 16.7-kilometre Ikpako-Ajoki Road project in Edo state. NNPC Group Managing Director…
Business Local World US Appeal Court Permits Nigeria To Request Documents From P&ID Stakeholders February 11, 2022 akintunde A US court of appeals for the second circuit has overturned orders which blocked Nigeria from obtaining documents to support its appeal against a $10 billion judgement awarded against it…
Local World UN Seek $1.1 Million To Aid Displaced Persons In Northern Nigeria February 11, 2022 akintunde The United Nations is requesting for the sum of $1.1 million to aid displaced persons living in the northern part of Nigeria. In a statement released by the UN yesterday,…
Banking Local We Will Tell Them Don’t Come To Central Bank For Foreign Exchange Again: CBN To Banks February 11, 2022 akintunde The Central Bank of Nigeria (CBN) has indicated that it would discontinue the sale of foreign exchange to Deposit Money Banks (DMB) by the end of the year. This is…
Local Market Nigeria President Order That Importers Of Contaminated Fuel Be Held Accountable February 11, 2022 akintunde President Muhammadu Buhari has ordered that those responsible for importing petrol with higher than normal amounts of methanol, which caused a fuel scarcity situation in major cities across Nigeria, should…
Technology World Google Breached Antitrust Law, Russia’s FAS Says February 10, 2022 akintunde Russia’s Federal Antimonopoly Service (FAS) on Thursday said Alphabet’s. Google had breached antitrust law related to suspending and blocking accounts on YouTube. Google is waiting for the FAS’ full decision…
