Twenty-seven start-ups in Africa have raised more than $100m+ in equity, debt or grant funding since 2019. MTN-Halan is leading the pack by a comfortable margin with close to $1 billion raised in the past 5.5 years, followed by Sun King and OPay. If you push the cursor down to $50m+ of funding raised, you…
MTN Nigeria Communications Plc, a leading ICT company in Nigeria, has launched the pilot of its paper-based biodegradable eco-friendly subscriber identity module (SIM) cards, in line with its Project Zero goals which seek to reduce GHG emissions and achieve net zero emissions by 2040. The biodegradable paper-based SIM card is safer for the environment, as…
Nigeria and other African countries pay a whopping $4.2billion on debt servicing. Nigeria, according to the National Bureau of Statistics (NBS), the country’s public debt stock which includes external and domestic debt stood at N121.67 trillion ($91.46 billion) in Q1 2024 from N97.34 trillion ($108.23 billion) in Q4 2023. This indicates a growth rate of…
Emerging markets-focused fintech, PalmPay, yesterday said it has contributed to deepening Nigeria’s financial inclusion policy of the Central Bank of Nigeria (CBN) with a total of 35 million users over the last five years. Managing Director at PalmPay Nigeria, Chika Nwosu, who spoke in Lagos during a brief ceremony to commemorate the fifth anniversary of…
President Bola Tinubu has reiterated his administration’s dedication to creating a robust financial system and business-friendly economy, attracting foreign direct investments (FDI). He made the commitment at the State House, Abuja, as the Coca-Cola Company unveiled plans to accelerate its investments in Nigeria to $1 billion over the next five years. The announcement was made…
NIGERIA’s ambition to be a carbon-neutral country while meeting its energy needs by 2060 would be wishful thinking if she fails to incorporate Environmental, Social, and Governance (ESG) principles into her power sector, according to a new report. “By 2060, Nigeria aims to be a carbon-neutral country while meeting its energy needs. For this goal…
The Nigerian National Petroleum Corporation (NNPC Ltd.) has released estimated prices of Premium Motor Spirit (PMS), also known as Petrol (obtained from the Dangote Refinery) in its retail stations across the country. A short statement endorsed by Chief Corporate Communications Officer at NNPC Ltd. Olufemi Soneye, and posted on its official X handle, the oil…
An energy management and industrial automation company, Schneider Electric, has restated its commitment to helping to drive the growth and development of Nigeria’s economy by creating more jobs and supporting the manufacturing sector to increase productivity. Country President, Schneider Electric, West Africa, Ajibola Akindele, who gave the commitment during the inauguration of the company’s new…
Consumer Advocacy and Empowerment Foundation (CADEF) and Jacob’s Ladder Africa (JLA) have partnered to expand green innovation and youth entrepreneurship in Nigeria. This collaboration will bring JLA’s renowned greenlabs incubation program to Nigeria, marking a significant milestone in efforts to foster youth-centered green solutions, climate innovation, and sustainability across West Africa. Economic empowerment is a…
