Real Time Financial News Website
uLesson, African edutech startup, has secured a $15 million Series-B investment from global investors to expand team. Sim Shagaya, chief executive officer, ULesson, on Thursday in Lagos, said the investment…
Grocery delivery start-up Flink has raised $750 million in an additional funding round, it said on Friday, giving the German company the funds to further expand and cash in on…
Following months of speculation, Chinese ride-hailing app Didi announced last week that it would delist from the New York Stock Exchange and pursue a listing in Hong Kong. Delisting means…
Equinix, Incorporated has announced that it is acquiring MainOne in a $320m deal that is set to be sealed in the first quarter of 2022. According to Equinix, the acquisition…
The total value-added tax (VAT) collected on behalf of the federation decreased by N11.75 billion within three months to N500.49 billion in the third quarter of 2021 according to the…
Heirs Insurance Limited (HIL) and Heirs Life Assurance (HLA) have extended simple insurance plans to the beneficiaries of the Tony Elumelu Foundation (TEF). According to the company, targeted at minimising…
Chinese artificial intelligence startup SenseTime Group is looking to raise up to $767 million in its Hong Kong initial public offering (IPO), according to a term sheet seen by Reuters.…
Kenyan fintech Asilimia raised $2 million in pre-seed funding ($1 million equity and $1 million debt), the funding came from various investors, including Fredrik Jung Abbou, a two-time unicorn founder…
Shares in Long4Life, the company owned by entrepreneur Bidvest founder Brian Joffe, soared in trade on Friday (3 December), on news of a multi-billion rand acquisition proposal from Old Mutual’s…
The Nigerian stock market declined by N598bn at the end of last week as some large-cap stocks recorded price losses. The NGX All-Share Index depreciated by 2.63 per cent to…
Tesla Inc Chief Executive Elon Musk has sold another 934,091 shares of the electric vehicle maker worth $1.01 billion to meet his tax obligations related to the exercise of options…
Shares in Japanese conglomerate SoftBank Group Corp dropped over 3% on Friday after the giant tech investor was hit with three disappointments within 24 hours, including a poor Nasdaq debut…
Investors from the United Arab Emirates have pledged $2bn worth of investments into the Nigerian mining sector as the aftermath of the Africa-UAE Trade and Investment forum. A statement from…
Europe’s biggest gas pipeline group Snam said on Thursday it had completed the acquisition of a 25% stake in East Mediterranean Gas Company, which owns a pipeline between Israel and…
AIRTEL Nigeria, a subsidiary of Airtel Africa Plc, has completed the 8.22 percent shares buyback from its minority shareholders, amounting to N61 billion. This amount is equivalent to $147 million,…
MTN Nigeria Communications Plc is set to raise at least N97.18bn from its public offer to retail investors. This came as the company say it had no plan to exit…
MTN Group says it will sell up to 575 million shares held in MTN Nigeria at N169 per share to retail investors. In a statement on Tuesday, Uto Ukpanah, the…
The Nigerian stock market began the week on a negative note as banking and consumer goods stocks, among others, triggered a N19.49bn loss. At the end of trading on the…
Transactions on the Nigerian Exchange Limited (NGX) reopened on a downward note yesterday, occasioned by losses in many blue-chip stocks, causing market capitalisation to slump by N20 billion. Specifically, at…
The National President of the Nigeria Society of Chemical Engineers has revealed that Dangote Oil Refining Company will be the highest employer of Chemical Engineers in the country when the…
Crossfin Technology Holdings, a South African fintech investment firm, has been acquired by a consortium of investors, including Patrice Motsepe’s African Rainbow Capital (ARC), for R1.5-billion. The consortium is led…
WIOCC Holding Company Ltd has raised $200 million in debt and equity capital to expand digital connectivity within Africa and internationally, and to launch data centres in the continent. The…
The UK competition regulator is expected to block Meta Platforms’ acquisition of online GIF platform Giphy in the coming days, the Financial Times reported on Monday. The Competition and Markets…
Flour Mills of Nigeria Plc (’FMN”) has assured its stakeholders that the recent announcement by the Group to assume majority shareholder status of Honeywell Flour Mills Plc (HFMP) on Monday…
Investors in the equities market of the Nigerian Exchange Limited recorded a loss of N71.44bn at the end of the trading session on Thursday as oil and gas and banking…
Two of Nigeria’s largest flour milling companies, Flour Mills of Nigeria Plc and Honeywell Flour Mills Plc, have recorded a combined increase of N39bn (33.53 per cent) in their market…
Agricorp International, Nigeria’s agriculture producing, processing and export company, has invested N4bn into acquiring poultry production facilities across three states in Nigeria. A statement from the firm on Monday said…
MTN Nigeria Communications Plc has obtained the approval of the Securities and Exchange Commission for the offer for sale of up to 575 million ordinary shares in MTN Nigeria held…
India’s government will introduce a bill to ban private cryptocurrencies and create a framework for a central bank-backed digital money, parliament said in a shock announcement late Tuesday. The proposed…
Tesla founder Elon Musk on Tuesday delivered a stinging rebuke to Binance Chief Executive Changpeng Zhao on Twitter after the cryptocurrency exchange limited withdrawals of meme-based digital currency dogecoin. The…