Eze, a YC-backed Wholesale Electronics Marketplace, Raises $3.7 million.
Eze, a B2B electronic goods marketplace, raises $3.7 million. Right Side Capital Management headed the investment round, which also included…
Year: 2023
Trella’s Logistics Startup is Supported by Avanz Capital Egypt with $3.5 million.
To aid in the expansion of the Egyptian logistics sector, private equity firm Avanz Capital Egypt has invested $3.5 million…
PE Fund with a Focus on Zambia Closes its First Close at $40 million.
In a historic financing for a Zambian private equity firm, Monter Capital Partners in Port Louis successfully closed the first…
French Company Schneider Transfers Kenya Operations.
French energy company Schneider Electric Kenya will discontinue its manufacturing activities there, indicating challenges with local value-addition. Schneider Electric Kenya…
Report: Upcoming Months are Projected to See an Increase in Ghana’s Inflation.
Over the following two months, it is expected that Ghana’s inflation rate will increase. This is mostly caused by the…
Shane Harris is Appointed Chairman/MD of ExxonMobil Nigeria.
In Nigeria, Esso Exploration and Production Nigeria Limited, Mobil Producing Nigeria Unlimited, have appointed Shane Harris as their new chairman…
Airtel’s Network Launch has Increased Access to 5G.
In Nigeria, access to fifth-generation technology (5G) is expanding significantly, especially since Airtel Nigeria inaugurated the network on Monday in…
UK Lowers Tariffs on Goods from Nigeria and Other Countries.
In order to save businesses and consumers millions of pounds annually, the United Kingdom (UK) stated that it has drastically…
As Billing Revenues Reach N842 billion in a Year, Discos’ Collection Efficiency Increases.
According to the most recent data made available by the Nigerian electrical Regulatory Commission (NERC), the collection efficiency of the…
FG Begins Enforcing the Data Privacy Law, Banks, telcos, and others will Face Steep Fines.
Banks, telecommunications corporations, and other organizations might face fines of up to 2% of their annual turnover for data breaches,…
At the Official Market, Naira Drops to 770.38/$.
After ending Monday’s trading in the investor & exporter FX market at 770.38/$, the naira fell even further against the…
Nigerians Protest the 7.5% VAT the FG Imposed on Diesel.
The payment of the 7.5% Value Added Tax on Automotive Gas Oil, also known as diesel, was officially announced by…
Ofori-Atta: The Government will get $6.2 billion from Multilateral Partners.
The government anticipates receiving around $6.2 billion from its multilateral partners between 2023 and 2026, according to Ken Ofori-Atta, minister…
Request for a Sh2.8 billion debt write-off led Equity to sue TransCentury.
TransCentury Plc was placed under administration after Equity Bank Kenya turned down a request to cancel more than Sh2.8 billion…
Shareholders Approve an Additional N1.5 Billion Capital Infusion for TrustBanc
According to a statement from TrustBanc Holdings Limited, the extra N1.5 billion capital injection into TrustBanc Microfinance Bank Limited has…
Capital Market: By Q3 2023, ASEA will Launch AELP Phase II.
The second phase of the African Exchanges Linkage Project (AELP), which was successfully launched in phase one, is expected to…
Nigeria, Morocco, and others Agree on a $30 billion Pipeline.
Four Memorandums of Understanding for the $30 billion Nigeria-Morocco Gas Pipeline Project were signed on Friday at the ECWAS headquarters…
43 Prohibited Products Remain Under our Position – CBN
The Central Bank of Nigeria (CBN) has maintained its position about the 43 prohibited commodities that were presented by its…
FG Obtains a $750 million World Bank Credit for Power Development.
On June 9, 2023, the loan with project ID P174622 received approval, becoming the first World Bank loan to do…
May Oil Production Generates N1.3tn and Reaches 36 million Barrels.
In May 2023, Nigeria’s oil production rose by 6.73 million barrels to 36.7 million barrels, generating a total income of…
CBN eliminates the savings and withdrawal caps on domiciliary accounts
The restrictions on domestic accounts have been abolished by the Central Bank of Nigeria. The CBN said in a statement…
Solcon Capital Replaces Convergence Partners Investments as the Brand.
Convergence Partners Investments has changed its name to Solcon Capital as the company intensified efforts to promote platform economics-based global…
More Nigerians will receive 5G service once Airtel rolls out.
Airtel, a telecom company, plans to launch its Fifth-Generation (5G) network services between now and next week, barring any unforeseen…
Electricity Act: Manufacturers Predict a Sharp Decline in the Cost of Alternative Energy.
The new Electricity Act, according to the Manufacturers Association of Nigeria (MAN), will result in a sharp decrease in the…
Nigeria’s Debt Profile Will Reach N81 Trillion After Unification of Fx Rates.
Following the most recent Naira devaluation by the Central Bank of Nigeria (CBN), Nigeria’s debt profile has increased to N81…
Inflation Increases to 22.41%
According to a recent data released by the country’s statistics bureau, Nigeria’s demand-pull inflation has increased once more to a…
Naira Drops to 702/$, With a Potential New FX Supply from CBN.
The Central Bank of Nigeria has permitted a free float of the naira against the dollar and other world currencies,…
Tinubu’s Economic Experts Recommend a Unification of Customs, NIMASA, and FIRS.
President Bola Ahmed Tinubu’s Policy Advisory Council has advised that the country declare a state of emergency in terms of…
Meet the New Members of President Bola Ahmed Tinubus’ Team.
The 9th Senate’s only official responsibility for President Bola Tinubu was to approve his list of Special Advisers. Exactly a…
NMDPRA and Marketers Meet to Avoid Petrol Shortages.
Following complaints from oil marketers about a lack of finances to import products, the Nigerian Midstream and Downstream Petroleum Regulatory…