The African Union (AU) is calling for a significant increase in local fertilizer production across the continent. To achieve this goal, they estimate a $15 billion investment from the private sector is needed. This initiative aims to address Africa’s dependence on global fertilizer markets and ultimately enhance food security. Challenges and Opportunities: Low Fertilizer Use: […]
United Bank for Africa (UBA), Africa’s Global Bank, delivered a remarkable first quarter in 2024, building upon its success in 2023. This performance reflects the continued execution of their strategic focus on customer satisfaction, geographical expansion, and robust risk management practices. Key Highlights: Profit Soars: UBA achieved a significant year-over-year (YoY) increase of 165% in […]
The Central Bank of Nigeria (CBN) has instructed banks and financial institutions to begin collecting a cybersecurity levy. This levy will be used to fund national cybersecurity initiatives under the 2024 Cybercrime (Prohibition, Prevention, etc) Amendment Act. Key Points: Levy Rate: 0.5% of the value of all electronic transactions. Administration: National Cyber Security Fund managed […]
Stanbic IBTC Bank, a financial institution in Nigeria, recently hosted its pivotal Energy and Infrastructure Breakfast Session in Lagos. This event marked a significant milestone in the country’s dialogue on sustainable energy, drawing together a distinguished assembly of industry leaders, policymakers and experts. Stanbic IBTC Bank brought together industry leaders and experts for an insightful breakfast session focused on […]
Guaranty Trust Holding Company Plc (GTCO) announced impressive financial performance for the first quarter (Q1) ended March 31, 2024. Their unaudited consolidated and separate financial statements revealed a staggering 587.5% increase in profit before tax compared to the same period in 2023. Key Highlights: Profit Surge: GTCO’s profit before tax skyrocketed to ₦509.3 billion, a […]
Meta is bringing fresh creativity and interaction to Instagram Stories with the launch of four new stickers: Add Yours Music, Frames, Reveal, and Cutouts. Instagram just upped the storytelling game with a fresh batch of interactive stickers for your Stories! Dive into these features and transform your content from ordinary to extraordinary. 1. Become a Collaborative DJ with […]
Over the weekend, Jack Dorsey, co-founder and former CEO of Twitter, announced his departure from the board of Bluesky, the decentralized social networking project he initiated in 2019. This came after Jack Dorsey responded to a query on social media regarding his current involvement with Bluesky, simply stating, “no.” Despite numerous follow-up inquiries, Dorsey did not provide […]
The Ikeja Electricity Distribution Company has reduced the electricity tariff payable by its Band A customers to N206.80 per kilowatt-hour from the N225/kWh approved by the Nigerian Electricity Regulatory Commission (NERC). According to the notice, the downward tariff review for Band A customers will be effective from Monday, May 6, 2024. Under the approved review, […]
Vice-President Kashim Shettima who was scheduled to represent President Bola Tinubu at a Summit in Dallas, Texas has aborted the trip following a technical fault with his aircraft. Shettima was to represent the President at the 2024 US-Africa Business Summit organised by the Corporate Council on Africa. Vice-President Kashim Shettima, scheduled to represent President Bola Tinubu at a […]
Daniel Hanna, currently the Global Head of Sustainable Finance at Barclays, is set to join BII’s Board as a Non-Executive Director. At Barclays, Hanna oversees a commitment to mobilize a trillion dollars of sustainable and transition finance. He also serves on the investment committee of Barclays’ Sustainable Impact Capital program, which is allocating £500 million […]