Statistics

In the initial month of 2024, African startups experienced a slow start, securing only $83 million across 31 disclosed deals, as reported by Africa: The Big Deal. This reflects a substantial decrease from the $545.1 million garnered in 20 deals during the corresponding month in 2023, indicating an 84.8% year-on-year decline. It’s worth noting that […]

Nigeria’s fintech landscape has been a hub of innovation for the past two decades. In 2000, automated teller machines were a rarity, and people endured long queues to withdraw money. Electronic payments were virtually non-existent. However, companies like Interswitch paved the way for improved access to cash and digital payments. Recent players like Paystack and […]

The introduction of the electronic Geographic Information System (e-GIS) platform by the Lagos state government allows residents to submit, explore, and authenticate land titles online throughout the state prior to any purchase. Governor Sanwo-Olu revealed this information on Friday through his verified X handle. The Governor emphasized that the e-GIS platform has digitized accessibility to […]

The National Council on Climate Change (NCCC) and Climate Action Africa (CAA) have forged a strategic alliance to confront the urgent issue of climate change in Nigeria. The formalization of this collaboration occurred through the signing of a Memorandum of Understanding at the NCCC office in Abuja on the previous day. This partnership seeks to […]

Facebook’s largest user group, comprising nearly a third (29.9%), falls within the 25-34 age range. The age distribution includes 4.8% (13-17 years), 21.5% (18-24 years), 19.4% (35-44 years), 11.6% (45-54 years), 7.3% (55-64 years), and 5.6% (65 years and above). Below are the lists of sites own by Facebook. Meta-Owned Platforms: SocialHub Pixify ChatSphere Connect […]

The Central Bank of Nigeria (CBN) has refuted claims of any intentions to convert $30 billion deposits in domiciliary accounts to naira, dismissing the statement as untrue. An article on Saturday had suggested that the apex bank was contemplating a policy shift to transform foreign currencies in the domiciliary accounts of citizens into Naira, with […]

Importers had not yet embraced the foreign exchange (FX) rate of N1,356.883 imposed by the Central Bank of Nigeria (CBN) on the market last Friday. Surprisingly, the apex bank swiftly readjusted the exchange rate on the Customs platform to N1,413.62/$1. This revision of the exchange rate occurred within a mere 24 hours after the CBN […]

Ghana’s central bank implemented a significant reduction in its primary interest rate, decreasing it by 100 basis points to 29% on Monday. This marks the first instance of a rate cut since 2021, prompted by a consistent decline in inflation over the past five months, particularly in December. The nation has been actively restructuring its […]

In the realm of Nigerian business news concerning federal taxes, Taiwo Oyedele, the head of the federal committee for tax reform, emphasized the committee’s proposal for utilizing Unstructured Supplementary Service Data (USSD) and various digital platforms for tax and levy payments across the three tiers of government. During a public forum on Wednesday, Oyedele addressed […]