The IMF has forecasted a potential $8 billion reduction in Nigeria’s foreign reserves for 2024, as outlined in its latest country report. This suggests a significant decline and potential foreign exchange challenges for the largest economy in Africa. As of February 8, the country’s external reserves were reported at $33.12 billion. The IMF anticipates a […]
Dr. Wunmi Bewaji, an expert in securities and financial regulation law, expressed that the Central Bank of Nigeria’s (CBN) directives instructing International Money Transfer Operators (IMTOs) to remit in naira will curb hoarding of scarce forex and deter speculation by those holding the currency. In an interview with our correspondent, he emphasized the positive nature […]
Data from the Nigerian Communications Commission (NCC) indicates that 9mobile, the fourth largest Mobile Network Operator (MNO) in the country, experienced a slight increase in subscribers over the past year. As of November 2023, 9mobile’s subscriber base reached 13,979,025, marking the highest figure since November 2020 when it reported 13,188,059 subscribers. Compared to November 2022, […]
Visa and the Egyptian Banks Company (EBC) have formed a partnership to simplify and enhance the international remittance process for Egyptians residing abroad. This development comes after EBC’s collaboration announcement with Mastercard on February 7, 2024, aimed at enhancing Egypt’s digital payments landscape and promoting inclusive economic growth. The collaboration will leverage EBC’s technological infrastructure […]
Ghana’s central bank has implemented its initial interest rate reduction since 2021, decreasing the main rate by 100 basis points to 29% on Monday. This move comes in response to a continuous decline in inflation for the fifth consecutive month, notably in December. The country has been actively managing its debts to recover from a […]
Omolaraeni Olaosebikan, CEO of McEnies Global Communications, highlights the crucial role of Artificial Intelligence (AI) in risk communication, emphasizing its predictive abilities for developing effective strategies to manage disasters. She emphasizes that AI, through machine learning algorithms, can anticipate potential risks by analyzing historical data and past events, enabling proactive risk management and timely communication […]
MTN Foundation and Private Sector Health Alliance of Nigeria (PSHAN) have entered into a memorandum of agreement (MoA) to construct 52 primary healthcare centers (PHCs) nationwide. The collaboration aims to deliver an additional 40 high-quality and affordable PHCs in 200 communities by June 2024. The signing ceremony, held at the MTN Atlantis office in Lagos, […]
According to Techeconomy articles, it Mades emphasis What’s it like being an African youth in the diaspora? According to the new Being African: How Africans Experience the Diaspora report, diasporic African youths experience different types of discrimination — exoticization in France, microaggressions in the UK, and surveillance and profiling in the US. The most recent research […]
Dr. Salisu Mamman Abdulrahman, an associate professor of Artificial Intelligence at the Faculty of Computing and Mathematical Sciences, Kano State University of Science and Technology (KUST), emphasized the importance of an AI policy during the forum. He suggested that such a policy would facilitate the establishment of AI infrastructure in tertiary institutions nationwide and promote […]
Amaete Umanah is a forward-thinking individual ready to address the obstacles encountered by beekeepers. Through his enterprise, Honeyflow Africa, the entrepreneur introduces an innovative solution that is transforming the local honey industry. Honeyflow Africa presents a sophisticated monitoring system designed to tackle the numerous challenges faced by beekeepers. This state-of-the-art technology has the potential to […]