Intel’s newly appointed CEO, Lip-Bu Tan, is planning a major overhaul of the company’s manufacturing and artificial intelligence (AI) operations. Tan, who will officially return to the company on Tuesday, intends to restructure Intel’s chip manufacturing methods and address inefficiencies in its AI strategy. Central to Tan’s vision is reviving Intel’s manufacturing arm, particularly its […]
Year: 2025
Naira Depreciates Amid Global Trade War and Forex Outflows: CBN Intervenes to Boost Supply
The ongoing trade tensions between the United States and several countries, including China and the European Union, have triggered foreign exchange outflows from Nigeria, leading to a significant depreciation of the naira. Over the past two weeks, the naira has lost value, dropping by N55 to N1,600 per dollar in the parallel market, and by […]
Bloated governance thrives as FG sidelines Oronsaye Report
Thirteen months after President Bola Tinubu promised to implement the Steve Oronsaye Report, designed to streamline Nigeria’s governance structure and reduce fiscal waste, the document remains unheeded. Despite the promise of reform, public spending has continued to increase, with government bureaucracy and redundancies contributing to growing economic concerns. Experts argue that now is the critical […]
Ghanaians seek extra income to manage rising costs
Many Ghanaians are seeking additional sources of income to navigate the challenges of stagnant wages and escalating living costs. A recent report from Old Mutual Financial Services Monitor 2024 surveyed 650 working adults earning at least GHC 1000 per month, revealing a significant shift towards informal financial support systems. The study underscores the deep-rooted sense […]
Kasief Isaacs Appointed CEO of Creation Capital to Drive Growth and Innovation
Creation Capital has appointed Kasief Isaacs as its new Chief Executive Officer, effective March 2025. With over 30 years of experience in financial services, particularly in private markets, Isaacs brings significant expertise to the role. He has spent a decade focused on private credit, infrastructure, and development investments across global markets. Isaacs is a Chartered […]
Cikü Mugambi Joins DOB Equity as Investment Director After Departure From Kobo360
Cikü Mugambi has taken on a new role as Investment Director at DOB Equity, a Netherlands-based private equity firm specializing in East African investments. This transition comes months after she stepped down as CEO of Kobo360, a leading logistics startup. Mugambi, who has been in her new position for about a month, brings extensive experience […]
Adenia Partners Strengthens Investment Committee with Franck Falézan Appointment
Adenia Partners, a prominent private equity firm with a focus on growth opportunities in Africa, has appointed Franck Falézan to its Investment Committee for both its flagship funds, Adenia Capital IV and the recently oversubscribed Adenia Capital V. Franck Falézan brings over 25 years of strategic leadership experience to the role, further bolstering the firm’s […]
Parthian Capital Launches Funds to Drive Nigeria’s $1 Trillion Economy Vision
Parthian Capital Limited has unveiled two new investment funds aimed at supporting Nigeria’s goal of becoming a $1 trillion economy by 2030. The funds, the Parthian Money Market Fund and the Parthian Dollar Fixed Income Fund, were launched during an event in Lagos. These funds are a part of the asset management division of the […]
Falling Petrol Prices Threaten Nigeria’s Oil and Gas Stocks as Dangote Refinery Shakes Up Market
The competition between Dangote Refinery and petrol marketers is putting immense pressure on Nigeria’s oil and gas stocks, creating uncertainty in the market. As of March 12, the NGX Oil and Gas Index experienced a 7% decline, reflecting a broader downturn in the sector. Despite strong financial performance in 2024, companies like MRS Oil, Conoil, […]
NGX Faces Pressure from Key Lagging Stocks: Insurance & Oil & Gas Sector Struggles in 2025
Nigeria’s stock market has seen a modest 3.20 percent rise in 2025, but this performance is overshadowed by the underwhelming results of several key stocks, particularly in the insurance and oil & gas sectors. These sectors have been significant laggards on the Nigerian Stock Exchange (NGX) so far this year. As of March 13, a […]
US-EU tariff clash imperils $9.5 trillion of business, AmCham warns
The ongoing U.S.-European tariff conflict is endangering an estimated $9.5 trillion in annual business activity, according to a warning from the American Chamber of Commerce to the EU (AmCham EU). The organization’s latest report highlights the growing importance of transatlantic trade, which reached a record $2 trillion in goods and services in 2024. AmCham EU, […]
Airbus and others call for sovereign infrastructure fund, buy European
In a joint open letter, Airbus, Dassault Systemes, and over 90 smaller European tech firms are calling on European Commission President Ursula von der Leyen to create a sovereign infrastructure fund. The companies argue that this fund is essential to boost public investments in cutting-edge technologies. The letter, dated March 14, stresses the urgency of […]
NSIA, Partners Launch $500 Million Fund to Boost Renewable Energy in Nigeria
The Nigeria Sovereign Investment Authority (NSIA), Sustainable Energy for All (SEforALL), the International Solar Alliance (ISA), and Africa50 have launched a $500 million fund aimed at financing distributed renewable energy (DRE) projects in Nigeria. The fund is designed to raise capital, address challenges such as currency volatility and tariff structures, and attract private investments to […]
Mixed Market Sentiments Persist as Investors Rebalance Portfolios Amid Selloffs
The Nigerian stock market experienced mixed sentiments last week, as portfolio reshuffling and selloffs dominated trading activity. For the third consecutive week, major market indicators closed lower, with shares in both mid and highly capitalized companies witnessing declines. Analysts pointed out that companies have started announcing board meetings to approve their audited financial statements for […]
Stock Futures Drop as Wall Street Faces Uncertainty and Economic Slowdown Concerns
Stock futures dropped early on Monday following a tough week for the markets, with the Dow posting its worst performance since 2023. Dow futures fell 213 points (0.51%), while S&P 500 and Nasdaq futures also saw declines of 0.63% and 0.71%, respectively. Last week, the Nasdaq entered correction territory, and the Russell 2000 came close […]
T-Bill Yields Decline as Ghana’s Government Records Oversubscription in Latest Auction
In a positive outcome for the government, the latest Treasury bill auction has surpassed expectations, with the government raising GHS 514 million more than the targeted GHS 8.26 billion. The auction, held by the Bank of Ghana, saw a total of GHS 8.77 billion in bids, reflecting an oversubscription of 6.22%. This indicates strong investor […]
Basata Boosts Stake in MadfoatCom to 25%, Strengthening Digital Payments in Jordan
Egyptian fintech company Basata has raised its stake in Jordan’s leading digital payments provider, MadfoatCom, to 25%, marking a significant step in the region’s digital financial services landscape. The investment, supported by Jordan Kuwait Bank (JKB), the Social Security Investment Fund (SSIF), and other financial institutions, positions the banking sector in Jordan as a majority […]
Nigeria’s FX Reserves See Modest Rebound with $12.06M Increase Amid Ongoing Economic Challenges
Nigeria’s gross foreign exchange (FX) reserves have seen a slight recovery, rising by $12.06 million to $38.36 billion as of March 12, 2025, after a nine-week decline. This rebound comes on the heels of significant depletion in reserves, including a $1.31 billion drop in February 2025. Despite this improvement, reserves remain under pressure due to […]
Juridoc.tn secures investment from Go Big Partners and 216 Capital Ventures for expansion
Juridoc.tn, a pioneering legal-tech company based in Tunisia, has secured a joint investment from Go Big Partners and 216 Capital Ventures to fuel its expansion across the OHADA region, covering 17 West and Central African countries. This strategic partnership aims to enhance the accessibility and efficiency of legal services through technology, beginning with the OHADA […]
SEC to Publicly “Shame” Capital Market Offenders in New Enforcement Strategy
The Securities and Exchange Commission (SEC) of Nigeria has unveiled a bold new approach to tackle violations within the country’s capital markets. The commission announced that it would publish the names of erring capital market operators in its “name and shame” journal as part of its enforcement efforts. This initiative, which aims to bolster the […]
Bank of Ghana Appoints New Board of Directors to Tackle Economic Challenges
The Bank of Ghana has officially inaugurated a new Board of Directors to address the nation’s economic challenges and reinforce financial stability. The event, which took place on March 13, 2025, was attended by Vice President of Ghana, government officials, and financial experts. This marks a fresh commitment by the central bank to strengthen its […]
Reps Revise Tax Reform Bills, Retain 7.5% VAT, and Amend Revenue Sharing Formula
The House of Representatives has amended President Bola Tinubu’s contentious tax reform bills, addressing key concerns raised by various stakeholders. The reform bills, which aim to overhaul Nigeria’s tax system, include measures related to the assessment, collection, and distribution of federal, state, and local government revenue, the establishment of the Nigeria Revenue Service, and the […]
One-Year T-Bills Yield Soars to 22.52% Amid Liquidity Challenges
In a surprising development, the Central Bank of Nigeria (CBN) sold its one-year Treasury bills at a yield of 22.52%, marking a notable increase from 21.68% seen earlier this year. This spike comes as the market grapples with liquidity shortages. The unexpected rise deviates from recent trends, where yields had been on a steady decline […]
Ghanaians Embrace Savings Amid Economic Struggles, Report Shows
Amid rising financial pressures and ongoing economic challenges, Ghanaians are increasingly prioritizing savings as a means of securing long-term financial stability. According to the 2024 Old Mutual Financial Services Monitor, there has been a notable shift in behavior, with fewer individuals dipping into their savings to cover financial shortfalls. The report reveals a significant drop, […]
Stocks Decline by N48bn as Cautious Trading Persists on NGX
The Nigerian equities market experienced a slight downturn on Wednesday, March 12, 2025, with stocks shedding N48 billion in market capitalisation. The market closed down by 0.07%, continuing the trend of subdued activity as investor sentiment remains cautious. Despite some activity in certain stocks, overall trading remained muted as investors refrained from making bold moves […]
Bitcoin’s Bear Market Hits New Investors Hard as Crypto Faces Setbacks
The latest bear market in Bitcoin has significantly impacted newer investors who rushed into the cryptocurrency during its peak last year, spurred by the hype surrounding Donald Trump’s U.S. presidential victory. Bitcoin, which reached an all-time high of $109,071 in January, has dropped to around $80,000, reflecting a nearly 25% decrease in value. This decline […]
Trump’s Global Moves Shake Markets: $5 Trillion Losses and Volatility Surge
In recent weeks, U.S. President Donald Trump’s actions have caused significant shifts in global financial markets, contributing to a dramatic $5 trillion loss in stock market value. This market turbulence stems from various factors, including Trump’s re-ignition of a global trade war and his suggestion that Europe can no longer rely on U.S. military support. […]
United Capital Announces N0.50 Final Dividend for 2024, Sets Qualification Deadline
United Capital Plc has declared a final dividend of N0.50 per share for the year ending December 31, 2024. The company made this announcement on March 12, 2025, via a disclosure to the Nigerian Stock Exchange (NGX), signed by Group Secretary Dr. Leo Okafor. The dividend will be paid to shareholders who appear on the […]
Experts Stress Research’s Key Role in Economic Growth at Omniverse Africa Summit 2025
The Research Exchange event, part of the Omniverse Africa Summit 2025, underscored the vital role of research in fostering economic growth across Africa. Organized by TechQuest STEM Academy in collaboration with NitHub, the virtual exchange aimed to promote collaboration between researchers, innovators, industry players, and governments. The two-day event focused on exploring research applications and […]
Digital Rights: EU, NBA, Others Tackle FG Over Misuse Of Cybercrime Law
The European Union (EU), Nigerian Bar Association (NBA), and other key stakeholders in the justice sector have raised concerns over the increasing misuse of Nigeria’s Cybercrime law, particularly its application in arresting citizens for alleged online offenses. They have called for an urgent review of the legal system to better protect digital rights and ensure […]