Dangote leads industry peers with 60% gross profit margin
In the first quarter of 2025, Dangote Cement emerged as the leading cement manufacturer in Nigeria, achieving a remarkable 60…
Month: April 2025
Nigeria Moves to Update Telecom Law to Match AI, 5G, and Digital Economy Realities
Nigeria is finally taking concrete steps to bring its telecommunications laws up to speed with today’s tech-driven world. The Nigerian…
Dollar based financing no longer sustainable for startups
At the 21st Annual Africa Venture Capital Association (AVCA) Conference, West African venture capitalists emphasized that dollar-based financing is no…
World Bank: Global commodity prices to drop to six-year low by 2026
The World Bank has sounded the alarm over falling global commodity prices, forecasting a steep 12% decline in 2025 followed…
Stockpiling ahead of tariffs likely hurt US economy in the first quarter
The U.S. economy likely came to a near standstill, or even slipped into contraction, during the first quarter of 2025,…
Investors Flee Wall Street Turmoil, Seek Safety in Emerging Markets and Niche Assets
Investor confidence in Wall Street has sharply declined following a series of disruptive U.S. policy announcements, prompting a widespread capital…
Trump Officials Consider Major Changes to Biden’s AI Chip Export Rules
The Trump administration is reportedly considering changes to a Biden-era rule that limits global access to advanced AI chips, with…
Intel Gains Interest in Test Chips for Advanced 18A Process Amid Foundry Revamp Plans
Intel’s foundry unit has recently garnered attention from several of its contract manufacturing customers who are interested in building test…
Edo State Investment Forum Targets Global Investors for Economic Growth
Edo State is taking significant strides towards economic growth as it seeks to attract investors through the recently concluded Edo…
Nigerian Telcos Commit Over $1 Billion to Chinese Network Gear in Major Infrastructure Push
Telecommunication operators in Nigeria have placed orders exceeding $1 billion for network equipment from Chinese manufacturers, marking a significant investment…
NGX Sheds ₦116bn as Profit-Taking Drags Market Down
The Nigerian Exchange (NGX) closed Tuesday, April 29th, on a bearish note as investors cashed out profits from major stocks…
FactCheck Africa Partners Meta’s Language Technology to Fight War Against Misinformation in Africa
In a major step toward combating digital misinformation across Africa, AI-powered fact-checking platform MyAIFactChecker has officially partnered with Meta’s Language…
Nigeria’s Cold Chain Market: A N160bn Goldmine for Investors Battling Post-Harvest Losses
Nigeria’s cold chain sector, valued at N160 billion as of 2023, is revealing massive investment potential as it struggles to…
Investors Shift to Emerging Market Debt as U.S. Treasurys Lose Safe Haven Status Amid Trump Tariffs
Following U.S. President Donald Trump’s announcement of tariffs in early April 2025, there has been a significant shift in investment…
Local and International Capital Providers Key to Nigeria’s Economic Growth, Says NGX CEO
At the 21st Annual AVCA Conference and VC Summit in Lagos, Temi Popoola, the Group Managing Director/CEO of the Nigerian…
Telecom Stakeholders Push for Stronger Legislation and Regulatory Independence in Nigeria’s Telecom Sector
Stakeholders in Nigeria’s telecom sector are calling for stronger legislative measures to safeguard the industry from excessive local interference and…
FCMB Group Posts ₦7.1 Trillion in Assets, Declares Dividend at 12th AGM Amid Strong FY 2024 Performance
At the recently held 12th Annual General Meeting of FCMB Group Plc in Lagos, shareholders endorsed the company’s robust performance…
NNPC Overhauls Leadership: Maryam Idrisu, Obioma Abangwu Appointed Amid Mass Staff Exit
The Nigerian National Petroleum Company (NNPC) Ltd has initiated a significant restructuring of its leadership, appointing Maryam Idrisu as the…
IMF Flags Ghana’s Energy Sector as Top Economic Risk, Urges Reform
The International Monetary Fund (IMF) has strongly backed Ghana’s Finance Minister’s warning that the country’s energy sector represents the biggest…
Naira Shows Resilience Despite Declining Reserves, Backed by CBN Reforms and Investor Confidence
Despite a noticeable decline in Nigeria’s external reserves, the naira has held steady in both official and parallel markets, signaling…
UK’s Manufacturing Africa & TLG Capital Launch $200M Fund to Boost Nigerian Manufacturing Sector
In a move to inject fresh capital into Nigeria’s manufacturing sector, the UK government’s Manufacturing Africa program has partnered with…
Nigerian Breweries Appoints Uzodinma Odenigbo as New Corporate Affairs Director
Nigerian Breweries Plc has announced the appointment of Uzodinma Odenigbo as its new Corporate Affairs Director, effective May 1, 2025.…
FCCPC asks Ibadan Disco to refund customers’ transformer investments
The Federal Competition and Consumer Protection Commission (FCCPC) has directed the Ibadan Electricity Distribution Company (IBEDC) to refund customers for…
CBN’s Financial Reforms Stabilise Nigeria’s Economy and Boost Investor Confidence
Since Olayemi Cardoso assumed office as Governor of the Central Bank of Nigeria (CBN) in October 2023, a raft of…
CAFS 2025: How Canada and Africa Are Joining Forces to Drive Fintech Innovation and Inclusive Growth
As fintech reshapes economies around the world, 2025 marks a turning point for deeper collaboration between Canada and Africa. Leading…
DeepSeek AI App Restored in South Korea After Privacy Compliance Updates
Chinese AI service DeepSeek is now back on South Korean app stores after a two-month suspension that followed concerns over…
Nigeria’s Debt Servicing Surges to N696bn in January, Outpaces Revenue by 144%
Nigeria’s fiscal crisis deepened in January 2025 as the Federal Government spent a staggering N696.27bn on debt servicing, an amount…
European Markets End on a High, FTSE 100’s Winning Streak Continues Amid Trade Uncertainty
European stock markets closed higher on Thursday, with most sectors seeing gains despite ongoing concerns about trade uncertainties. The pan-European…
CNBC Daily Open: U.S. consumers are starting to feel the pinch of Trump tariffs
U.S. consumers are increasingly feeling the economic consequences of President Donald Trump’s tariffs, with price hikes and potential supply shortages…
Emerging Economies Show Greater Trust in AI, Survey Finds
A new global survey from the University of Melbourne and KPMG reveals that people in emerging economies are more trusting…