In Africa, artificial intelligence (AI) is gradually reshaping how businesses operate and is offering solutions to longstanding challenges. For many entrepreneurs, the everyday struggles of managing time-consuming tasks such as paperwork and endless meetings can feel overwhelming. AI presents an opportunity to streamline processes, freeing up time to focus on the things that matter most: […]
Year: 2025
Firm seeks SEC approval for crowdfunding platform
Promiseland Building and Construction Limited has formally applied to Nigeria’s Securities and Exchange Commission (SEC) for approval to operate a crowdfunding intermediary platform. The company aims to facilitate capital formation for various real estate projects, infrastructure development, and other construction-related investments through this platform. In a letter addressed to the SEC, Promiseland’s Chairman and CEO, […]
FG Targets Wealth Creation with N1.5tn BOA Recapitalization
The Nigerian Federal Government has unveiled plans to inject N1.5 trillion into the Bank of Agriculture (BOA) as part of its strategy to enhance wealth creation through the agricultural sector and bolster food security. The announcement, made by the Minister for Budget and Economic Planning, Abubakar Bagudu, highlights the government’s commitment to modernizing agriculture and […]
Local Brands’ Global Participation Key to Boosting Nigeria’s GDP, Experts Say
Economic experts have emphasized that Nigeria’s economic growth is closely tied to the participation of indigenous brands in global value chains. They highlighted the importance of Nigerian businesses expanding beyond local markets to contribute to the global economy. This approach is seen as essential for boosting the country’s GDP, similar to how leading companies in […]
U.S. Markets Plunge as Trump Dismisses Economic Fears Amid Tariff Uncertainty
U.S. stock markets took a significant hit on Monday, as investors grew increasingly concerned about a potential recession. The S&P 500 dropped by 2.7%, while the Dow Jones lost 2.08%, and the Nasdaq Composite sank by 4%, marking its worst session since September 2022. Despite this sharp downturn, the Trump administration downplayed the severity of […]
IEA Urges Ghana Government to Retain Betting Tax with Reduced Rate in 2025 Budget
The Institute of Economic Affairs (IEA) is calling on the Ghanaian government to retain the controversial Betting Tax as part of the 2025 Budget, which will be presented by Finance Minister Dr. Cassiel Ato Forson in Parliament. Despite the administration’s plan to scrap the tax alongside others like the E-Levy and COVID-19 Levy, the IEA […]
Nigerian Equity Market Opens Week with N52bn Gain
The Nigerian stock market began the trading week on a positive note, with a notable increase in market capitalization by N52.17bn. By the close of Monday’s trading session, the All Share Index had risen by 83.31 points, reaching 106,621.91 points, reflecting a 3.59% year-to-date gain. The total market capitalization reached N66.8 trillion, signaling a strong […]
Over 8,000 telecom subscribers switched operators in Jan – NCC report
Mobile number portability in Nigeria saw a significant rise of 190% in January 2025, according to the Nigerian Communications Commission (NCC). A total of 8,708 telecom subscribers switched networks, up from 2,998 in December 2024. This increase highlights a growing dissatisfaction with service quality and pricing, prompting users to explore better options with competing operators. […]
Chinese Retail Traders Turn to AI with DeepSeek, Redefining Quant Fund Perception
In a dramatic shift, Chinese retail traders are turning to AI tools like DeepSeek, a quant-based platform, to enhance their market strategies. This trend is part of a broader move toward embracing computer-driven models, which has grown in popularity despite last year’s government crackdown on such funds. Online courses and weekend workshops have become essential […]
CoreWeave Secures $11.9 Billion Deal with OpenAI Ahead of IPO
CoreWeave, a fast-growing AI startup backed by Nvidia, has signed a significant five-year agreement worth $11.9 billion with OpenAI. The contract will see CoreWeave provide essential AI infrastructure to OpenAI, which is known for its ChatGPT technology. As part of the deal, OpenAI will acquire shares valued at $350 million in CoreWeave through a private […]
CBN Strengthens Operations with New Director Appointments and Strategic Vision for 2024-2028
The Central Bank of Nigeria (CBN) recently appointed 16 new directors to enhance its operations and regulatory oversight. These appointments are part of the bank’s broader strategy for 2024-2028, which emphasizes the active involvement of all staff in executing its objectives. The process was guided by global consultancy firm PricewaterhouseCoopers (PwC), ensuring transparency and merit-based […]
FG Investing Trillions in Economic Reforms for Long-Term Growth – Atiku Bagudu
Nigeria’s federal government is making significant strides toward economic transformation by channeling trillions of naira into key sectors to promote growth, food security, and industrial capacity. Atiku Bagudu, the Minister of Budget and Economic Planning, emphasized the administration’s commitment to long-term stability, citing tough decisions such as the removal of fuel and electricity subsidies. He […]
Five Nigerian Firms Project Combined Profit of N54bn in Q2 2025
Five companies listed on the Nigerian Exchange (NGX) are expected to record a total profit after tax of N54.77 billion in the second quarter of 2025, according to their earnings forecasts. FCMB Group is anticipated to lead the profit projections with N36.64 billion, followed by Geregu Power Plc at N8.65 billion, AXA Mansard Insurance at […]
US Stock Market Loses $1.75 Trillion Following Trump’s Recession Concerns
The US stock market experienced a massive loss of over $1.7 trillion in value after President Donald Trump suggested that a recession could be possible this year. His comments, made during a Fox News interview on Sunday, unsettled investors and triggered widespread declines. The S&P 500 dropped 2.7%, bringing it nearly 9% below its February […]
Hong Kong Launches Streamlined Visa Scheme to Attract Global Tech Talent
Hong Kong has unveiled the 2025 edition of the Technology Talent Admission Scheme (TechTAS), designed to streamline the entry of international professionals in key technology sectors. This initiative aims to fortify Hong Kong’s standing as a global tech hub by facilitating the recruitment of talent in advanced fields such as artificial intelligence, cybersecurity, fintech, robotics, […]
Africa Finance Corporation Marks First London Stock Exchange Listing with Market Close Ceremony
Africa Finance Corporation (AFC) recently achieved a significant milestone by marking its first-ever listing on the London Stock Exchange (LSE) with a ceremonial market close. This event, which celebrated AFC’s key role in mobilizing global capital for Africa’s economic transformation, followed two notable international capital market transactions. These included a $500 million oversubscribed 5-year Eurobond […]
Stocks Decline Amid Trump’s Trade War, China’s Deflation Concerns, and Economic Worries
Global stock markets faced declines on Monday, fueled by concerns over rising deflationary pressures in China and growing uncertainties surrounding U.S. economic policies under President Trump. Wall Street futures dropped, with the S&P 500 and Nasdaq expected to open lower by 0.5% and 0.6%, respectively. Meanwhile, Asian markets saw mixed results, with Hong Kong’s Hang […]
Weak Naira Boosts Nigeria’s Competitiveness to 25-Year High
The devaluation of Nigeria’s naira has significantly enhanced the country’s economic competitiveness, according to a recent report by the British think tank, Chatham House. The naira has fallen by over 70%, dropping from 460 to the dollar in 2023 to just below 1,500. This sharp depreciation is one of the largest currency adjustments globally in […]
Fitch Assigns Negative Outlook to Adani Energy Amid U.S. Probe Risks
Fitch Ratings has placed a negative outlook on Adani Energy Solutions Limited, citing concerns over corporate governance and the ongoing U.S. investigations into the company. The move follows accusations against Adani Group executives, including billionaire Gautam Adani, of bribing officials for Indian power contracts and misleading U.S. investors during fundraising activities. Despite these accusations being […]
CBN Aims for Single-Digit Inflation with Forex Stability Measures
The Central Bank of Nigeria (CBN) has been working diligently to stabilize the foreign exchange (forex) market, resulting in notable improvements in the Naira’s performance in early 2025. In the first two months of the year, the Naira appreciated and converged with the parallel market exchange rates, reaching N1,500 per dollar. This development marked a […]
China Bond Yields Surge as Investors Reassess Rate Cut Expectations
China’s sovereign bond yields reached their highest levels of the year, as investor optimism about economic growth led to reduced demand for government bonds. The yield on China’s 10-year government bond rose over 10 basis points to 1.865%, marking a 25 basis point increase from January’s lows. This surge followed positive signals from Beijing’s government […]
Nigerian Stock Market Declines Amid Selloffs and Declining Fixed Income Yields
The Nigerian stock market closed in negative territory last week due to widespread selloffs in blue-chip companies across various sectors, despite a decline in fixed-income yields. Typically, the stock and bond markets move in opposite directions, but this trend was disrupted by the selling pressure on large stocks like Transcorp, Access Holding Company, and MTNN, […]
Ghana’s Treasury Bill Yields Hit 20-Month Low Amid Fiscal Consolidation Strategy
Treasury bill yields have continued their downward trend, reaching the lowest levels in 20 months, with average rates between 17% and 19%. The Bank of Ghana’s latest data highlights significant drops in yields: the 91-day yield fell by 307 basis points to 17.72%, the 182-day yield decreased by 401 basis points to 18.97%, and the […]
Telecom Tariff Hike Sparks Outrage in Southeast Nigeria
Telecom subscribers in Anambra, Ebonyi, and Enugu States have expressed their dissatisfaction with the recent 50% tariff increase approved by the Nigerian Communications Commission (NCC). The hike, which affects phone calls, SMS, and data bundles, has been described by many consumers as an “act of injustice” given the perceived poor quality of services provided by […]
Nigeria’s Economic Recovery Gathers Momentum Amid Positive Indicators
Nigeria’s economy is showing encouraging signs of recovery, driven by positive macroeconomic indicators such as rising foreign direct investment (FDI) and a growing GDP. International institutions like the International Monetary Fund (IMF) have endorsed the country’s reform initiatives, suggesting that Nigeria is on track to regain investor confidence similar to the 2000s era. The Central […]
U.S. Dollar Weakens Amid Trade War Fears, Safe-Haven Currencies Soar
The U.S. dollar is under pressure, trading near a four-month low against major currencies as concerns over a potential global trade war dominate market sentiment. Investors have grown wary following U.S. President Donald Trump’s imposition of tariffs on key trading partners, with fears of an economic slowdown intensifying. Despite the tariff delays, the anxiety surrounding […]
Rebased GDP to reveal Nigeria’s underlying economic realities
Nigeria is set to unveil a rebased Gross Domestic Product (GDP) for the first quarter of 2025, a revision that has not occurred since 2014. The update shifts the base year from 2010 to 2019, incorporating significant sectors like digital finance, e-commerce, and the creative industry, which have become vital to the economy. This rebasing […]
China’s Top Universities Expand Enrollment to Focus on AI and Strategic Technologies
In a bid to strengthen its capabilities in artificial intelligence (AI) and other key sectors, several of China’s leading universities have announced plans to expand their undergraduate programs. This move is part of a broader effort to address national strategic needs and develop expertise in high-demand fields such as AI, integrated circuits, and biomedicine. The […]
Nigeria’s Economic Recovery Spurs Strong Investor Confidence
Nigeria’s economy is showing signs of strong recovery, with inflation easing to 24.5% in January and a steady rise in Foreign Direct Investment (FDI). The Central Bank of Nigeria (CBN), led by Governor Olayemi Cardoso, kept interest rates unchanged, bolstering investor confidence. This policy, along with a robust GDP expansion, has sparked positive momentum in […]
Naira Declines Against Dollar Amid Increased Demand and Tight Liquidity
The Naira experienced a reversal of recent gains last week, depreciating against the U.S. dollar in both the official and parallel markets. By the close of trading, the naira weakened by 1.66%, falling to 1,517.24/$ from 1,492.49/$ the previous week at the official market. Similarly, the parallel market saw the naira ease to an average […]