Category: Business

The Francophone Africa Business Summit 2024 encourages entrepreneurship and cooperation

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The Francophone Africa Business Summit 2024 encourages entrepreneurship and cooperation Participants in the conference held enlightening conversations with the goal of removing obstacles and improving cooperation between African countries. The Francophone Africa Business Summit 2024 concluded on February 29, 2024, after two days of intense programming in Lagos, Nigeria. The summit, which was organized by Epena Law, acted as a spark for investment and cooperation throughout the African continent. The meeting, with the theme “Investing in Francophone Africa – Playbook and Opportunities,” brought together CEOs, investors, and powerful leaders from…

Beyond Boundaries and the Ascend Studios Foundation collaborate to strengthen African women

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Beyond Boundaries and the Ascend Studios Foundation collaborate to strengthen African women For forty high-potential tech and tech-enabled firms, the program offers a rare chance to acquire the knowledge and coaching necessary to grow their companies. The Leap Women Africa program, an accelerator aimed at supporting women leading tech-driven startups across the continent, and Ascend Studios Foundation, an organization committed to fostering creativity and business ownership, today announced a new partnership. Beyond Limits is an organization focused on accelerating the growth of impact-driven businesses in Africa. Launched in 2023 in…

In 2023, more than 700 factories will cease operations – MAN

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In 2023, more than 700 factories will cease operations – MAN The Tinubu administration’s naira harmonization has put a lot of strain on Nigeria’s manufacturing sector. Manufacturers in Nigeria have expressed regret over the worsening economic situation, which has caused 767 firms to cease operations and 335 to experience financial difficulties in 2023. The stopping of commercial operations by the impacted companies comes amid growing inflation, unstable exchange rates, and other economic issues that have made investment conditions worse, according to the Manufacturers Association of Nigeria (MAN). MAN also voiced…

AfDB Supports Food Production In Nigeria With $134 Million

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AfDB Supports Food Production In Nigeria With $134 Million The African Development Bank (AfDB) has announced a significant investment of $134 million to bolster Nigeria’s agricultural sector. This interesting initiative was revealed by AfDB President, Akinwumi Adesina, during his recent visit to the Centre for Dryland Agriculture (CDA) at Bayero University, Kano. Speaking, Adesina detailed the bank’s strategy, affirming their commitment to supporting the cultivation of 300,000 hectares of rice and maize, 150,000 hectares of cassava, and 50,000 hectares of soybeans in Nigeria for the upcoming 2024 planting season. He…

Dangote Cement Shareholders To Get 50% Dividend Increase

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Dangote Cement Shareholders To Get 50% Dividend Increase Under the commitment made by Chairman Aliko Dangote at Dangote Cement’s 2022 Annual General Meeting (AGM) to provide increased returns on investments to shareholders and stakeholders, the company’s Management has proposed a 50% rise in dividend payout to N30 per share for the year ended December 31, 2023. The proposed dividend increase is contingent upon shareholder approval at the upcoming AGM. Suggesting a dividend of N30 per share during a time when many companies are reporting losses demonstrates Dangote Cement’s resilience and…

Full List: US, UK, Canada, Other Countries Where Binance Have Been Banned, Restricted

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Full List: US, UK, Canada, Other Countries Where Binance Have Been Banned, Restricted Recently, some countries implemented measures to block and restrict access to the websites of prominent global cryptocurrency exchanges and virtual digital asset services providers like Binance, Kucoin, OKX, and others. Notably, major economies such as China, India, Turkey, and Nigeria have imposed restrictions on crypto trading. It is worth noting that the authorities have expressed concerns regarding the potential involvement of these exchanges in money laundering activities, aiding tax offenders, or facilitating crypto scams. Over the past…

CBN strengthens regulations for BDCs and other foreign exchange participants

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CBN strengthens regulations for BDCs and other foreign exchange participants The agreement forbade holding BDCs in numerous names as well as fraudulently collecting foreign exchange from sources that were either eligible or prohibited. Yemi Cardoso, the governor of the Central Bank of Nigeria, is working to resolve foreign exchange problems. A revised copy of the Regulatory and Supervisory Guidelines has been made available to all Bureau de Change (BDC) operators and other stakeholders in the finance industry by the Central Bank of Nigeria (CBN). A notice of intent dated Friday,…

Nigeria is now home to the world’s longest subsea cable, measuring 45,000 kilometers

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Nigeria is now home to the world’s longest subsea cable, measuring 45,000 kilometers The 45,000-kilometer-long 2Africa subsea cable from Meta has reached the Nigerian states of Lagos and Akwa Ibom. By immediately promoting the expansion of 4G and 5G and increasing internet penetration for millions of people and businesses throughout the region, the deep-sea cable initiative will link 32 additional African nations and directly contribute to the economic growth of the continent. According to Guardian Nigeria, Bayobab, a pan-African provider of digital connection solutions, collaborated with MTN Opco to install…

Become “Verve Aware” to make easy online payments

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Become “Verve Aware” to make easy online payments Enter a world of sweetness and ease with Verve, the revolutionary digital payment solution! It’s time to use your Verve Card to live the good life and add a little enchantment to your transactions! Envision a society in which completing payments online is not only simple but fashionable as well! Imagine yourself using Verve to effortlessly swipe to binge-watch your favorite Netflix and Prime Video episodes, dance to the music on Spotify, pay for subscriptions on Google Play, or even run advertising…