Finance Minister Dr. Cassiel Ato Forson has emphasized the significance of the 2025 Budget in stabilizing Ghana’s fragile economy. During a youth engagement session hosted on X Spaces by social media influencer KalyJay, he acknowledged that despite efforts made so far, the country still faces significant financial challenges. He stressed the importance of taking immediate […]
Year: 2025
Stakeholders Criticize Inflation Rebase and CBN’s MPC Decision Amid Economic Challenges
The recent rebasing of Nigeria’s inflation rate and the Central Bank of Nigeria’s (CBN) decision to maintain the benchmark interest rate at 27.5% have stirred controversy among stakeholders, including shareholders and financial analysts. The National Bureau of Statistics (NBS) reported a sharp drop in inflation to 24.48% for January 2025, down from 34.80% in December […]
China Faces Growing Economic Uncertainty Amid Trade Tensions and Domestic Challenges
China’s economy is grappling with increasing uncertainty on the international front, as well as domestic challenges, according to top economic official Zheng Shanjie. Speaking at a news conference on March 6, 2025, Zheng, Chairman of the National Development and Reform Commission, highlighted rising external pressures and insufficient domestic demand as key concerns for the country’s […]
Nigeria and UK Strengthen Cybersecurity Collaboration
Nigeria and the United Kingdom have joined forces to enhance the country’s cybersecurity capabilities, focusing on creating a robust National Cybersecurity Architecture. This collaboration is facilitated through the UK/Nigeria Inward Cyber Trade Mission, led by Nigeria’s National Information Technology Development Agency (NITDA). At a recent meeting in Abuja, Kashifu Inuwa, NITDA’s Director-General, discussed President Bola […]
Microsoft Withdraws from Some CoreWeave Agreements Over Delivery Issues
Microsoft has reportedly pulled back from certain agreements with CoreWeave, a cloud computing provider, due to delivery issues and missed deadlines. The two companies had a significant ongoing partnership, with CoreWeave providing computing capacity from its data centers. These agreements were part of a broader, multi-billion-dollar partnership that aimed to support Microsoft’s cloud infrastructure and […]
IMF Highlights Nigeria’s Economic Stability Amid Reforms under Tinubu Government
The International Monetary Fund (IMF) has praised the reforms implemented by Nigeria’s Bola Ahmed Tinubu-led government, noting that these measures have restored economic stability in the country. IMF’s First Deputy Managing Director, Gita Gopinath, highlighted that key reforms, such as foreign exchange deregulation, have significantly strengthened the value of the naira, helping stabilize the economy. […]
Ghana Government Considers Listing State-Owned Enterprises on Stock Exchange
The Minister for Trade, Agribusiness, and Industry, Elizabeth Ofosu-Adjare, has confirmed that the Ghanaian government will consider the possibility of listing State-Owned Enterprises (SOEs) on the Ghana Stock Exchange. This decision follows increasing calls from stakeholders, including the Managing Director of the Ghana Stock Exchange, urging for such listings to enhance the operational efficiency and […]
NGX Group Proposes Historic N4.4bn Dividend as Profit Soars to N13.5bn
In a remarkable achievement, Nigerian Exchange Group Plc (NGX Group) has proposed a record dividend of N4.4 billion, marking a significant milestone in the company’s financial performance. This proposal comes as the Group reported a 157.6% increase in profit before tax (PBT), which rose to N13.5 billion in the 2024 financial year. The N2.00 per […]
Stock Market Experiences Continued Downturn with N289bn Loss
The Nigerian stock market continued its decline on March 5, 2025, as the overall capitalization dropped by N289 billion, reflecting a persistent bearish trend. The All-Share Index fell by 467.77 points, or 0.44%, closing at 106,436.48 points. This loss brought the total market capitalization down to N66.653 trillion, further emphasizing the ongoing negative performance in […]
Stocks Rise as U.S. Tariff Tensions Ease; Euro Strengthens Ahead of ECB Decision
Asian stock markets saw gains on Thursday as investor sentiment improved following news that U.S. President Donald Trump had granted a one-month exemption to some automakers from tariffs imposed on Canada and Mexico. This move helped alleviate concerns over the escalating trade war and boosted markets across Asia, with Japan’s Nikkei and Hong Kong’s Hang […]
United Capital Delivers Strong 2024 Financial Results with N2.40k Dividend Payout to Shareholders
United Capital Plc (UCAP) has announced a total dividend payout of N2.40 per share for 2024, rewarding shareholders with remarkable returns following a year of exceptional growth. The company’s profit after tax (PAT) more than doubled, rising from N11.42 billion in 2023 to N24.10 billion in 2024, reflecting a 111.03% increase. United Capital also introduced […]
FCMB’s Continued Support for the Blind Celebrated by FNSB
The Federal Nigeria Society for the Blind (FNSB) has praised First City Monument Bank (FCMB) for its ongoing contributions to supporting the visually impaired community in Nigeria. FCMB has provided significant financial donations and essential supplies, benefiting several institutions including FNSB, Pacelli School for the Blind, Bethesda Home for the Blind, and Farmcraft Centre for […]
Telecoms Industry Faces Growth Challenges, Yet Revenue Set to Reach $1.1 Trillion by 2028
The global telecoms industry is expected to see steady revenue growth despite significant challenges, with projected revenue reaching $1.1 trillion by 2028. According to PwC’s Global Telecoms Outlook, the industry will grow at a compound annual growth rate (CAGR) of 2.9%, slower than inflation. In 2023, telecoms revenue across mobile and fixed verticals grew by […]
Africa Strengthens Cybersecurity with Stricter Data Protection Laws
In a significant move toward enhancing data security, 39 out of 55 African nations have now enacted data protection laws, signaling a growing commitment to safeguarding personal information in the digital age. According to a report by Yellow Card, this shift comes as Africa’s digital economy expands rapidly, necessitating stronger privacy measures. While progress is […]
CBN Reinforces Oversight to Strengthen Financial System Amid Rising Global Challenges
The Central Bank of Nigeria (CBN) is enhancing its regulatory framework to ensure the stability and resilience of the nation’s financial system. Under the leadership of Olayemi Cardoso, the CBN is focusing on robust risk management strategies, compliance measures, and the recapitalization of banks. These actions aim to safeguard Nigeria’s financial sector against emerging global […]
US Economic Activity Increases Slightly Amid Rising Tariff Concerns, Fed Survey Reveals
A recent report from the Federal Reserve indicates that U.S. economic activity has experienced modest growth since mid-January, with employment rising slightly and prices increasing at a moderate pace. However, growth has been uneven across various districts, with six regions reporting no change in activity, four seeing modest or moderate growth, and two experiencing slight […]
Bank of Ghana to Commission Value-for-Money Audit on $261M Headquarters Project
The Bank of Ghana (BoG) has announced plans to contract Architectural and Engineering Services Limited (AESL) for a value-for-money audit of its $261 million new headquarters project. The decision comes amid growing public scrutiny surrounding the cost of the facility. Governor Dr. Johnson Asiama confirmed the audit would be part of measures to ensure transparency […]
Foreign Investors Drive Nigerian Eurobonds’ February Rally
Nigeria’s Eurobond market posted a strong performance in February, reflecting growing foreign investor confidence. Data from the Debt Management Office (DMO) showed that the average yield on Nigerian Eurobonds fell to 8.80% by the end of the month, down from 9.21% at the start. This drop signals solid investor interest despite global economic uncertainties. The […]
Naira Stability Outlook Strong as CBN Maintains FX Market Interventions
The Central Bank of Nigeria (CBN) is expected to maintain the stability of the naira in the coming weeks through its ongoing interventions in the foreign exchange (FX) market. Recently, the CBN directed Bureau De Change Operators (BDCs) to purchase $25,000 weekly from authorized dealers, a move designed to stabilize the naira and strengthen the […]
Nigeria Secures $50.8 Billion in Global Trade Investment Deals
Nigeria has made significant strides in its economic diversification efforts, securing over $50.8 billion in investment commitments from international partners. This achievement follows a series of engagements, particularly during President Bola Tinubu’s overseas visits, which have been pivotal in strengthening the nation’s trade relations. Jumoke Oduwole, Nigeria’s Minister of Industry, Trade, and Investment, highlighted that […]
Dubai Leads as Most Digitally Dependent City in 2025
Dubai has claimed the top spot as the most digitally dependent city in the world for 2025, according to a recent study by ZeroBounce. The ranking assessed cities based on key digital infrastructure components, including internet speed, public Wi-Fi availability, CCTV coverage, and smart city solutions such as pollution monitoring and real-time traffic updates. With […]
Nvidia and Broadcom Test Intel’s 18A Chip Process Amid Delays in Foundry Business
Nvidia and Broadcom are reportedly conducting tests on Intel’s 18A chip manufacturing process, a critical step as both companies evaluate whether to invest in Intel’s struggling foundry business. This testing signals a potential move towards large-scale contracts, which could provide a significant revenue boost for Intel. However, these tests are still in early stages, with […]
European Markets Drop as Trump Tariffs Impact Autos, Thales Shares Surge
European markets took a sharp downturn on Tuesday amid growing concerns over the global effects of U.S. tariffs on Mexico, Canada, and China. By 10:40 a.m. in London, the Stoxx 600 index had fallen 1.23%, with automotive stocks particularly hard-hit, dropping by 4.3%. Major automotive companies, such as Stellantis and Mercedes-Benz, saw significant declines of […]
Bank of Ghana Suspends Gold-for-Oil Programme Amid Policy Challenges
The Bank of Ghana (BoG) has decided to suspend its Gold-for-Oil program due to operational and policy challenges that resulted in financial losses. The initiative, which aimed to reduce the country’s dependence on foreign exchange for fuel imports and stabilize fuel prices domestically, has been temporarily halted as the Central Bank reevaluates its economic strategies. […]
Ghana Saves GH¢1bn After Treasury Bill Rate Reduction
Ghana has saved approximately GH¢1 billion following a significant reduction in Treasury Bill (T-Bill) rates, according to Finance Minister Cassiel Ato Forson. He highlighted that the savings from the lowered T-Bill rates will be redirected toward critical sectors to drive national development and economic stability. This move is part of the government’s broader efforts to […]
DMO Announces New FGN Savings Bonds Offering Interest Rates of 16.64% and 17.64%
The Debt Management Office (DMO) has introduced two new Federal Government of Nigeria (FGN) savings bonds, offering attractive interest rates of 16.64% and 17.64%. The bonds are part of the government’s ongoing efforts to raise funds for national development and are available for subscription until March 7, 2025. The DMO’s statement highlights that the two […]
United Capital Proposes N9bn Final Dividend Following Strong 2024 Performance
United Capital Plc has announced a final dividend of N9 billion, equivalent to 50 kobo per share, for the year ended December 31, 2024. This proposal comes after the company’s strong performance in the 2024 financial year, according to its audited results released on the Nigerian Exchange (NGX). In addition to the final dividend, United […]
DeepSeek’s Growth Highlights the Rise of China’s AI Industry, Says Official
DeepSeek, a rising AI startup based in Hangzhou, is being hailed as a symbol of China’s growing prominence in artificial intelligence. According to Lou Qinjian, a spokesperson for China’s parliament, the company’s achievements are “commendable” and reflect the innovation and inclusiveness of the country’s technological development. Lou emphasized that DeepSeek’s success highlights the ability of […]
Hedge Funds and Institutional Investors Boost Retail Store Stocks Amid Economic Uncertainty
In recent months, institutional investors, including hedge funds, have increased their investments in both online and brick-and-mortar retail companies, signaling confidence in the sector despite ongoing economic uncertainty. Notable among these investments is Ross Stores, Inc., which boasts institutional ownership exceeding 86%. The company, known for discounted branded apparel and home fashion, has attracted investors […]
Cash Crunch Drives 171% Surge in Bank Borrowings from CBN Amid Tight Monetary Policy
The Central Bank of Nigeria (CBN) has seen a significant rise in bank borrowings, with a 171% increase month-on-month (MoM) from N9.15 trillion in January 2025 to N24.81 trillion in February 2025. This surge highlights the ongoing liquidity issues within the interbank money market, driven by the CBN’s tight monetary policy aimed at controlling inflation. […]