The Nigerian stock market continued its downward trend yesterday, dropping by N48.45 billion, marking its second consecutive day of decline. Investor sell pressures targeted major stocks such as Conoil Plc, United Bank for Africa (UBA), and several others, contributing to the market’s loss. Conoil saw a significant 10% drop, closing at N331.20 per share, while […]
Year: 2025
European Markets Struggle as Trump Tariffs Spark Trade Concerns
European markets opened lower on Thursday, weighed down by President Donald Trump’s tariff policies, which continue to disrupt global trade relations. The uncertainty surrounding U.S. tariffs on steel and aluminum imports and retaliatory measures from the European Union and Canada led to declines across major European indices. The pan-European Stoxx 600 fell 0.12%, with the […]
Ghana Faces GHS 55 Billion Financial Crisis at BoG, ECG, and COCOBOD – Ato Forson Reveals
Finance Minister Dr. Cassiel Ato Forson has revealed that the Bank of Ghana (BoG) is facing a critical financial crisis, with a negative equity of GHS 55 billion. This financial setback was inherited from the previous administration and requires immediate government intervention to restore the central bank’s financial stability. Dr. Forson stressed that the government […]
Stocks Decline as Trump’s Tariffs Weigh on Market Sentiment, Gold Nears Record High
Asian stocks saw a dramatic reversal on Thursday, slipping from initial gains into losses due to concerns over the economic repercussions of President Donald Trump’s trade policies. While early optimism was sparked by a soft U.S. inflation report, the markets soon became wary of the potential fallout from Trump’s newly implemented tariffs. The tariffs on […]
Tinubu’s Reforms Boost Nigeria’s Oil Sector with $17B Foreign Investment
In 2024, President Bola Tinubu’s oil and gas sector reforms attracted approximately $17 billion in foreign investment to Nigeria. According to the Nigerian National Petroleum Company Limited (NNPC Ltd), these significant inflows were driven by a series of Executive Orders signed in 2023 to liberalize the industry. NNPC Ltd’s Executive Vice President, Udy Ntia, highlighted […]
CBN Leadership Overhaul Aimed at Boosting Efficiency and Productivity
The Central Bank of Nigeria (CBN) has appointed 16 new directors as part of a strategic overhaul to improve its operations and regulatory effectiveness. This move, part of Governor Olayemi Cardoso’s strategy for 2024-2028, aims to foster greater staff involvement in the bank’s goals. The selection process was overseen by PricewaterhouseCoopers (PwC), ensuring transparency and […]
UK and Nigeria Launch Creative Industries Technical Working Group
In a significant move towards strengthening bilateral relations, the United Kingdom and Nigeria have officially launched the Creative Industries Technical Working Group. This initiative is part of the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP), aiming to foster innovation and collaboration within the creative sectors of both nations. The launch event, which took place in […]
Africa’s Progress in Data Protection: Key to Secure Digital Finance Growth
A new report by Yellow Card highlights Africa’s significant strides in data protection, underscoring the critical role of strong data security frameworks in safeguarding personal and financial information. As the continent accelerates its digital transformation, ensuring robust data protection has become central to shaping Africa’s digital future, particularly in the growing digital finance sector. The […]
FCMB Empowers 44,278 Entrepreneurs Nationwide Through Business Growth Training
First City Monument Bank (FCMB) has successfully empowered 44,278 entrepreneurs through its Business Empowerment Sustainability and Training (BEST) masterclass programme since 2018. This initiative aims to equip entrepreneurs with essential skills and knowledge to grow and sustain their businesses in the long term. The nationwide programme provides both financial and non-financial support, contributing significantly to […]
FTC Pushes Forward with Antitrust Probe Into Microsoft’s Market Practices
The U.S. Federal Trade Commission (FTC) is continuing its broad antitrust investigation into Microsoft, which was initially launched during the final days of the Biden administration, according to a report by Bloomberg News. The probe, which has recently gained momentum, includes interviews with various companies and industry groups as part of an effort to gather […]
Bitcoin Reserves Could Generate Up to $81 Trillion for U.S. by 2045
Michael Saylor, the executive chairman of Microstrategy, has proposed that the United States could earn between $16 trillion and $81 trillion by 2045 through a “Strategic Bitcoin Reserve” (SBR). In a statement released on Tuesday, Saylor urged the White House to adopt Bitcoin as a national reserve to help alleviate the national debt and establish […]
Stock Markets Tumble in Nigeria and US Amid Global Uncertainty
The Nigerian stock market experienced a sharp downturn on Tuesday, with investors losing N285 billion, or 0.43 percent, as market capitalization fell from N66.769 trillion to N66.484 trillion. The All-Share Index also dropped by 0.43 percent, closing at 106,167.75, down from the previous day’s 106,621.91. The market’s performance was heavily affected by a majority of […]
House of Reps Urges CBN to Suspend ATM Transaction Charge Hike Amid Economic Strain
The House of Representatives has called for the suspension of the recent hike in Automated Teller Machine (ATM) transaction charges by the Central Bank of Nigeria (CBN), citing the country’s challenging economic conditions. The motion was raised by Marcus Onobun, the lawmaker representing Esan Central/Esan West/Igueben Federal Constituency in Edo State, during Tuesday’s plenary session. […]
Global Markets in Retreat Amid Economic Fears Fueled by Trump’s Trade War and Job Cuts
Markets across the globe showed signs of retreat on Tuesday, following a sharp sell-off on Wall Street driven by growing fears about the US economy. Concerns have been building as President Donald Trump’s global trade war intensifies, with new tariffs set to be imposed this week, and federal job cuts threatening to fuel economic uncertainty. […]
Telcos Boost Investments to Meet Surging Data Demand in Nigeria
Telecommunication giants MTN Nigeria and Airtel Africa have ramped up their investments in network infrastructure to meet the growing demand for data in Nigeria. The Nigerian Communications Commission (NCC) reported a staggering 93.35% increase in monthly internet usage, reaching an all-time high of over 1 million terabytes in January 2025. This surge is attributed to […]
Ghana’s Telecom and Digital Finance Sectors Seek Urgent Policy Support for Growth and Innovation
The Ghana Chamber of Telecommunications and the Electronic Money Issuers (EMIs) Chamber of Ghana are urging lawmakers to prioritize policies and legislative support for the telecommunications and digital finance sectors. These industries are seen as key contributors to the nation’s economic development, digital transformation, and financial inclusion. Both chambers emphasize the importance of creating investment-friendly […]
OpenAI Unveils New Developer Tools Amid Growing Competition from Chinese AI Startups
OpenAI has introduced new developer tools aimed at enhancing the creation of advanced AI agents. These tools are built to simplify the process of developing systems capable of executing complex tasks autonomously without human intervention. Central to this launch is the new Responses API, which replaces the previous Assistants API. This new tool will be […]
Defense Stocks Boost European Markets Amid EU Retaliation to Trump Tariffs
European markets saw broad gains on Wednesday, as investors reacted positively to the European Union’s announcement of retaliatory tariffs on U.S. steel and aluminum imports. The Stoxx 600 index rose 0.8%, with German stocks leading the charge. The DAX index surged 1.5%, while other major European bourses also posted gains. However, the retail sector was […]
U.S. Treasury Yields Dip Ahead of Key Inflation Data and Trade Tensions
U.S. Treasury yields fell slightly on Wednesday as investors anxiously awaited the release of the latest consumer inflation data and kept a close eye on tariff developments. At 4:40 a.m. ET, the 10-year Treasury yield was down by over one basis point, while the 2-year yield fell to its lowest level since October. Treasury yields […]
Economist Criticizes Ghana’s 2025 Inflation Goal as Too Ambitious Despite Recent Progress
Economist Professor Patrick Asuming has expressed concerns over the government’s 2025 inflation target of 11.9%, labeling it as “a little aggressive.” This comes after Ghana’s efforts in 2024 to reduce inflation below 23% were unsuccessful, with the rate staying above 22% for much of the year. While Asuming acknowledges that other macroeconomic goals in the […]
Public-Private Partnerships Crucial to Closing Nigeria’s $100 Billion Investment Gap – Edun
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has underscored the importance of Public-Private Partnerships (PPPs) in addressing the country’s $100 billion annual infrastructure deficit. Speaking at the 2025 KPMG Arise TV Budget News Day, Edun outlined the government’s fiscal priorities, emphasizing that PPPs are crucial in facilitating large-scale infrastructure projects, […]
FCMB Launches Business Transformation Masterclass to Empower Entrepreneurs
First City Monument Bank (FCMB) has introduced its Business Empowerment and Sustainability Training (BEST) Masterclass, aimed at equipping business owners with the knowledge and tools required to thrive in today’s challenging economic landscape. The program is tailored to help entrepreneurs strengthen their business strategies by focusing on areas such as financial management, digital transformation, and […]
Foreign Trade in Nigeria Soars to N138 Trillion Amid Naira Devaluation
Nigeria’s foreign trade reached a major milestone in 2024, with total merchandise trade growing by a remarkable 106.6%, amounting to N138.03 trillion. This surge, driven largely by the devaluation of the Naira, marked a significant rise from the previous year’s N66.83 trillion. The growth was further fueled by a notable increase in exports, which totaled […]
Euro Gains on Ukraine Ceasefire Proposal, While U.S. Tariffs Pressure Stocks
The euro surged to a near five-month high, reaching $1.0947, as Ukraine signaled its readiness to accept a month-long ceasefire following a proposal from the U.S. This development came as the U.S. restored military aid and intelligence sharing with Ukraine, which buoyed European equity futures, including a 1.1% jump in European markets. Meanwhile, Russia’s foreign […]
Nigeria’s ₦54.99 Trillion 2025 Budget Faces Revenue and Debt Challenges
Nigeria has unveiled its largest budget in 65 years, with a proposed ₦54.99 trillion for 2025, marking a 56.89% increase from 2024’s ₦35.05 trillion. Dubbed the “Budget of Restoration” by President Bola Tinubu, the budget prioritizes economic stabilization and growth through significant investments in security, infrastructure, and social programs. However, concerns remain about Nigeria’s ability […]
AGI Criticizes Proposed Increase in Growth and Sustainability Levy- GHANA
The Association of Ghana Industries (AGI) has expressed strong objections to the proposed increase in the Growth and Sustainability Levy. The levy, which currently stands at 1 percent on the gross production of mining companies, is set to rise to 3 percent under the 2025 budget announced by Finance Minister Cassiel Ato Forson on March […]
FG Expands Bond Listings with Over 900 Million Units on Nigerian Exchange Limited
The Federal Government of Nigeria has expanded its bond listings with an additional 910.3 million units of its existing February 2025 bonds on the Nigerian Exchange Limited (NGX). This move aims to further boost the government’s capital-raising efforts to support infrastructure and development projects across the country. The announcement came in a statement released by […]
Bears Return to Nigerian Exchange, Market Loses N285bn in Capitalization
The Nigerian Exchange (NGX) experienced a bearish trend on Tuesday, with the market losing N285 billion in capitalisation, largely driven by declines in key stocks. The All-Share Index dropped by 454.16 points, or 0.43%, closing at 106,167.75 points. This marked an extension of the one-week loss to 0.69%, reflecting ongoing challenges in the market. The […]
Nigeria’s Competitiveness Reaches 25-Year High Amidst Weak Naira
Nigeria’s economic competitiveness has surged to its highest level in 25 years, thanks to a significant devaluation of the naira. Over the past few years, the naira’s value has plummeted by over 70%, with the exchange rate falling from 460 to just below 1,500 to the dollar. This sharp depreciation has made Nigeria’s exports more […]
AI Revolution in Enterprise Sales: How Tech is Transforming Africa’s Business Landscape
The rise of Artificial Intelligence (AI) is reshaping enterprise sales across Africa, marking a shift from traditional methods to tech-driven strategies. AI is enhancing workflows, streamlining customer engagement, and driving revenue growth. Rather than replacing sales teams, AI is making them more efficient by providing data-driven insights, predictive analytics, and CRM automation, all of which […]