Nigeria’s Digital Payments and Financial Inclusion Set to Reach $1.5 Trillion by 2030 – Mastercard Report
The digital payments sector in Nigeria and across Africa is projected to reach $1.5 trillion by the end of the…
Category: Local
CBN Governor Cardoso Reaffirms Commitment to FX Stability and Inflation Control
Central Bank of Nigeria (CBN) Governor Olayemi Cardoso has reaffirmed the institution’s dedication to stabilizing the foreign exchange market and…
Nigeria’s Inflation Eases, FirstHoldCo Shines, and Cocoa Prices Surge to Record Highs
Nigeria’s inflation rate has eased to 23.18%, signaling a potential relief for households and businesses as the financial pressure on…
Ghana’s Finance Minister Assures Capital Market Reopening and Debt Repayment Commitment
Finance Minister, Dr. Cassiel Ato Forson, emphasized the importance of reopening Ghana’s capital markets, highlighting the significant role of pension…
Nigerian DisCos Face 33% Revenue Shortfall in 2024 Amid Metering Issues and Poor Service
In 2024, Nigeria’s electricity distribution companies (DisCos) experienced a significant 33% revenue shortfall, collecting only N1.699 trillion of the N2.196…
Ghana Intensifies Efforts to Meet IMF Review Deadline, Outlines Economic Reforms
Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has reassured that the government is actively working to meet the International Monetary…
DICE 3.0: Africa’s Premier Tech and Business Networking Event Set for April 2025
DICE 3.0, the latest edition of the premier digital economy mixer, is set to take place on April 3, 2025.…
NGX Group, CBN, and MinieMoney Empower Nigerian Students with Financial Literacy Skills
In a bid to promote financial inclusion, the Nigerian Exchange Group (NGX Group), the Central Bank of Nigeria (CBN), and…
Nigeria’s Debt Servicing Hits Four-Year High Amid Rising Borrowing and Currency Depreciation
Nigeria’s debt repayment reached a four-year high of $4.65 billion in 2024, marking a 32.9% increase from the previous year.…
Nigerian Stock Market Opens Week with N369bn Gain, Positive Market Sentiment
The Nigerian stock market began the week on a strong note, posting a N369 billion gain, with the Nigerian Exchange…
Nigerian Stock Market Faces Fourth Consecutive Week of Losses Amid Uncertainty
The Nigerian stock market continued its downward trend last week, marking its fourth consecutive week of losses. This downturn was…
Ghana Gov’t to Deploy Technology to Combat Illegal Mining and Boost National Revenue
The government of Ghana has announced plans to implement technology-driven measures to address the growing challenge of illegal mining, which…
Nigerian Equity Market Recovers with N369bn Gain, Boosting Investor Confidence
The Nigerian equity market experienced a strong rebound on Monday, gaining N369 billion as the All-Share Index rose by 0.56%,…
Mercurie Launches Naira Payment Solution for Nigerian Businesses
Cross-border payment issues have long hindered the growth of Nigerian businesses, with over 4.9 million companies facing challenges in managing…
Money Market Funds Stay Attractive Despite Rate Decline, Offering Strong Returns
Money market funds (MMFs) continue to be a reliable investment option, even as interest rates on most instruments have declined.…
Borrowing Costs Expected to Rise as Nigeria Faces Tightening Banking Liquidity
Businesses in Nigeria may soon experience higher borrowing costs due to a continued dip in banking system liquidity, which has…
Nigerian Equities Market Continues Downward Trend, Investors Lose N532bn in 4th Consecutive Week
The Nigerian equities market has faced a fourth consecutive week of losses, with heightened selling pressure and macroeconomic concerns causing…
Telecom Sector Growth Hinges on AI, B2B Services, and Strategic Innovation Amidst Rising Costs
The Nigerian telecom sector is grappling with steep tariff hikes, leaving consumers like Adebayo, a Lagos-based small business owner, shocked…
SEC Intensifies Measures Against Fraud, Promises Stricter Oversight of Nigeria’s Capital Market
The Securities and Exchange Commission (SEC) has reaffirmed its commitment to protecting investors in Nigeria’s capital market by cracking down…
Tony Elumelu Foundation Grants African Entrepreneurs Over $115m, Create 1.5m Jobs
The Tony Elumelu Foundation (TEF) has distributed over $115 million in grants to African entrepreneurs, benefiting more than 24,000 individuals…
Ghana Government Falls Short of Treasury Bill Target by GH¢2.8 Billion
In its latest Treasury bill auction, the Ghanaian government has missed its target by GH¢2.8 billion, marking the first shortfall…
RackCentre Expands Nigeria’s Digital Infrastructure with New AI Data Centre
RackCentre is making a significant contribution to Nigeria’s digital economy with the launch of its new 12 Megawatt Artificial Intelligence…
Revitalizing Nigeria’s Creative Economy: CBN’s Push for a $25 Billion Growth Opportunity
The Central Bank of Nigeria (CBN), in partnership with the Bankers’ Committee, is spearheading efforts to transform the country’s creative…
Bank of Ghana’s MPC Holds Key Meeting Amid Economic Pressures
The Bank of Ghana’s Monetary Policy Committee (MPC) has started its 123rd meeting today, which will focus on evaluating the…
Naira struggles at official window, depreciates to 1536/$
The naira faced significant challenges at the official exchange rate window last week, depreciating by 1.25% to settle at 1536.89/$…
China Encouraged to Increase Investments and Technology Transfer to Boost Nigeria’s Economy
Nigeria’s Honourable Minister of Works, David Umahi, recently urged the Chinese government to enhance its investments in Nigeria’s economy, particularly…
African Finance Ministers Push for Immediate AfCFTA Implementation to Drive Trade and Economic Growth
The 57th session of the Conference of African Ministers of Finance, Planning, and Economic Development, held in Addis Ababa, Ethiopia,…
FG Moves to Harmonize Fiscal Data for Economic Stability and Investor Confidence
The Federal Government of Nigeria is taking proactive steps to harmonize fiscal data across various government agencies, aiming to improve…
FG Focuses on Reducing Production Costs to Tackle Food Inflation and Improve Accessibility
The Nigerian government is taking steps to address food inflation and accessibility by reducing production costs in the agricultural sector.…
NHRC to Collaborate with Tech Companies to Mitigate AI Risks in Nigeria
The National Human Rights Commission (NHRC) of Nigeria has announced its plans to engage technology companies in addressing the potential…