Business investment Local Nigerian Stock Market Sees N35bn Loss Amid Persistent Sell Pressure March 21, 2025 Ekemini Investors in the Nigerian stock market experienced a significant setback on Thursday, with a loss of N35 billion in market value. The Nigerian Exchange Limited (NGX) market capitalization decreased by…
Business Finance Local Macroeconomic Naira Faces Growing FX Liquidity Risk Amid Economic and Geopolitical Challenges March 21, 2025 Ekemini The Nigerian naira is facing increasing pressure in the foreign exchange market as it depreciated to N1,580/$ in the parallel market on Friday, down from N1,590/$ on Thursday. Despite the…
International Technology Instagram Outage in the U.S. Nearly Resolved, Reports Show Significant Drop March 21, 2025 Ekemini Meta’s Instagram service experienced a widespread outage across the U.S. on Thursday evening, with users facing difficulties accessing the platform. However, by 8:34 p.m. ET, the number of reported incidents…
International Technology Beijing Supports Manus AI Startup as China Eyes New Tech Giant March 21, 2025 Ekemini Chinese AI startup Manus has gained significant attention following its recent registration of a China-facing AI assistant and its appearance in state media. Beijing is intensifying efforts to support domestic…
Business International Macroeconomic Japan’s Core Inflation Hits 3%, Boosting Expectations of BOJ Rate Hike March 21, 2025 Ekemini Japan’s core inflation rate reached 3.0% in February, maintaining pressure on the Bank of Japan (BOJ) to consider further interest rate hikes. This increase follows a warning from BOJ Governor…
Africa Business International Macroeconomic Bank of Ghana Faces Tough Decisions Amid Economic Challenges March 21, 2025 Ekemini The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) will hold its 123rd meeting starting March 24, 2025, to decide on the Policy Rate (PR). In the last…
Business Finance Local Macroeconomic FCMB Expands Presence with New Branch in Ogbomosho March 21, 2025 Ekemini First City Monument Bank (FCMB) has officially opened a new branch in Ogbomosho, aimed at boosting financial inclusion and economic growth in the region. The branch, located along the Ogbomosho-Ilorin…
Business International investment Technology Nigeria and India Strengthen Economic Ties: Focus on Trade, Investment, and Key Sectors March 21, 2025 Ekemini Nigeria and India have reaffirmed their commitment to deepening bilateral relations, focusing on trade, investment, and cooperation in sectors like energy, agriculture, and pharmaceuticals. At a business seminar organized by…
Business Local NGX Market Cap Drops to N65.8tn Amid Weak Investor Sentiment March 21, 2025 Ekemini The Nigerian Exchange (NGX) saw a decline in market capitalisation, dropping to N65.8 trillion as the All-Share Index fell by 0.05% at the close of trading on Thursday. This decline…
Finance Local Technology FCTA Approves N2.1 Billion Contracts, Including N242.8 Million for FCT-IRS Microsoft License March 20, 2025 Ekemini The Federal Capital Territory Administration (FCTA) has approved a total of N2,183,399,860 for various contracts within Abuja, with a significant portion allocated to the procurement of a N242.8 million Microsoft…
International Technology EU Commission Accuses Google of Violating Digital Markets Act Over Search and Play Store Practices March 20, 2025 Ekemini The European Commission has issued preliminary findings accusing Alphabet Inc. of breaching the Digital Markets Act (DMA) in its Google Search and Google Play services. The Commission’s investigation highlights concerns…
Local Macroeconomic Sanwo-Olu Advocates for Stronger Market Connectivity to Promote Sustainable Economic Growth March 20, 2025 Ekemini Lagos State Governor Babajide Sanwo-Olu has reaffirmed his commitment to enhancing market connectivity between producers and consumers, aiming to foster stronger relationships and economic growth. Speaking at the Lagos State…
Finance International European Markets Mixed as Central Bank Decisions Loom; Hapag-Lloyd Faces Geopolitical Strains March 20, 2025 Ekemini European stock markets showed mixed performance on Thursday, with investors focusing on key central bank decisions, including those from the Bank of England (BOE), the Swiss National Bank (SNB), and…
International Technology Digital Asset Management: Transforming Registrars’ Role in the Future of Investor Services March 20, 2025 Ekemini Investor services are undergoing a major transformation, driven by rising shareholder expectations and regulatory pressures. Traditional methods of record-keeping and data management, often manual and fragmented, are increasingly inadequate in…
Business Local Tinubu Appoints Board for Nigerian Power Operator March 20, 2025 Ekemini President Bola Tinubu has appointed the board members for the newly established Nigerian Independent System Operator (NISO) to help improve Nigeria’s power sector. Dr. Adesegun Olugbade was named as the…
Finance International Macroeconomic Deloitte: Ghana’s 4% GDP Growth Target for 2025 Feasible but Faces Key Risks March 20, 2025 Ekemini Deloitte has affirmed that Ghana’s 4% GDP growth target for 2025 is achievable, especially following the 5.7% growth recorded in 2024. However, the accounting and auditing firm highlights that the…
Business Economy Finance International Rwanda’s Economy Expands 8.9% in 2024, Driven by Strong Agricultural and Industrial Sectors March 20, 2025 Ekemini Rwanda’s economy experienced significant growth in 2024, expanding by 8.9%, surpassing the previous year’s 8.2% increase. This robust performance was fueled by strong agricultural harvests and impressive growth in the…
Business Finance International Ghana’s Top 10 SOEs Report GHC11bn Loss in 2023 March 20, 2025 Ekemini In 2023, Ghana’s 10 largest State-Owned Enterprises (SOEs) by asset base reported a combined net loss of GHC11 billion, according to Professor Michael Kpessa-Whyte, Acting Director-General of the State Interests…
Business Local Nigerian Breweries Completes 100% Acquisition of Distell Wines and Spirits Nigeria March 20, 2025 Ekemini Nigerian Breweries Plc has finalized the acquisition of the remaining 20% stake in Distell Wines and Spirits Nigeria Limited (DWSN), thereby securing full ownership of the company. This move follows…
Business Local Dangote Refinery Halts Naira-Based Petrol Sales Amid Currency Mismatch March 20, 2025 Ekemini Dangote Petroleum Refinery has announced a temporary suspension of its petroleum product sales in Naira. This decision stems from a mismatch between the refinery’s sales proceeds, which are in Naira,…
Business Local Technology OADC to Build $240M Hyperscale Data Centre in Lagos, Boosting Africa’s Digital Infrastructure March 20, 2025 Ekemini Open Access Data Centres (OADC), a subsidiary of WIOCC, has announced a significant investment of $240 million to build a 24-megawatt hyperscale data centre in Lagos, Nigeria. This state-of-the-art facility,…
Africa International Technology Ghana’s Telecom Sector Struggles with Poor Reception and Slow Internet March 20, 2025 Ekemini A recent report by CUTS International, a consumer advocacy group, has raised alarm over ongoing challenges in Ghana’s telecommunications sector. The findings were shared during the World Consumer Rights Day…
Business Finance Local Macroeconomic 65.5% of Nigerians Advocate for Lower Lending Rates, CBN Survey Reveals March 20, 2025 Ekemini A new survey by the Central Bank of Nigeria (CBN) has revealed that 65.5% of Nigerian households support a reduction in lending rates, as they believe it would be beneficial…
Business International Technology Microsoft to Launch Three Data Centres in Malaysia by Mid-2025 March 20, 2025 Ekemini Microsoft has announced plans to launch its first cloud region in Malaysia, with three data centres set to go live by the second quarter of 2025. The data centres, named…
Finance International Macroeconomic Fed’s Dot Plot Eases Investor Concerns, U.S. Markets Surge as Interest Rate Cuts Loom March 20, 2025 Ekemini The U.S. Federal Reserve’s decision to keep interest rates steady and maintain a forecast of two rate cuts in 2025 provided much-needed reassurance to investors on March 19, 2025. While…
Business Local Technology GSM Maintains Dominance as Active Data Internet Subscribers in Nigeria Reach 142 Million March 20, 2025 Ekemini As of January 2025, Nigeria’s active data internet subscribers reached 142.16 million, according to the Nigerian Communications Commission (NCC). The breakdown revealed that GSM technology remains the dominant player in…
Business International investment GIADEC Seeks Global Partnerships to Boost Ghana’s Integrated Aluminium Industry March 20, 2025 Ekemini The Ghana Integrated Aluminium Development Corporation (GIADEC) is actively seeking partnerships with global investors to support its vision of developing an Integrated Aluminium Industry (IAI) in the country. CEO Reindorf…
Business Local Macroeconomic Naira Gains Slightly to 1530.52/$ Amid Stability Efforts and Structural Reforms March 20, 2025 Ekemini The Nigerian naira showed a marginal appreciation of 0.16% on Wednesday, closing at 1530.52/$ compared to the previous day’s rate of 1532.93/$ on the official foreign exchange market, as reported…
Business Local Nigeria’s Telecom Sector Faces Declining Revenue as Currency Depreciation Hits ARPU“““““““““` March 20, 2025 Ekemini Nigeria’s telecommunications market has seen a significant downturn, with the average revenue per user (ARPU) falling by 38.79% in 2024. The decline, from $3.08 in 2023 to $1.89 by the…
Economic International investment Stock Futures Climb Ahead of Fed’s Rate Decision Amid Market Volatility March 19, 2025 Ekemini Stock futures saw a slight increase on Wednesday as investors awaited the Federal Reserve’s interest rate decision, set for release at 2 p.m. ET. Futures linked to the Dow Jones…
