A COMPANY, Socket, has secured a $40million funding round to tackle the rising tide of supply chain security attacks. With over 90 per cent of modern applications built on open source, security has become more critical than ever. Traditional Software Composition Analysis (SCA) tools are struggling to keep up with ever rising attacks. Socket safeguards…
AFRICA-focused fintech company, PalmPay, has stressed the need for founders within the fintech ecosystem to boost investors’ confidence to drive more foreign direct investment (FDI) across the continent. The company believes that working closely with investors is vital to creating value. Speaking at the just concluded 2024 Nigeria Fintech Week in Lagos, Managing Director, PalmPay…
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…
A group, the Nigerian Association for Energy Economics (NAEE) has blamed the country’s resource- curse syndrome on weak institutions and poor governance that have led to the inability of the country to transform her abundant human and natural resources endowment for the good of all. The group’s President, Dr. Hassan Mahmud, who spoke in Abuja,…
If the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) fail to address the debt overhang of about N250 billion owed mobile network operators (MNOs) as a result of the use of the Unstructured Supplementary Service Data (USSD), the operators might, subject to regulatory approval, suspend supporting the use of the service…
realme, one of the world’s fastest-growing smartphone brands, has officially launched its operations in Nigeria. With a focus on combining affordability with cutting-edge technology, realme’s market entry aims to address the growing demand for high-performance mobile devices in the country. The market entry was marked by a grand launch at the Balmoral Convention Center, Ikeja,…
QNET has restated its commitment to improving Nigeria nutritional health with advanced solutions to improve productivity. The company, a global leader in wellness and lifestyle products, gave the commitment on occasion to mark World Food Day. It said the malnutrition crisis in Nigeria is severe, with 32 per cent of children under five suffering from…
With growth slowed to 1.28 per cent in second quarter (Q2) from 1.49 per cent in the Q1 to 2.20 per cent in the corresponding quarter of 2023, Nigeria’s manufacturing sector remains too weak to make any significant impact in the economy, the Lagos Chamber of Commerce and Industry (LCCI), has said. Its President, Gabriel…
Nigeria’s Federation Accounts Allocation Committee (FAAC) has shared N1.298 trillion among the Federal Government, state governments, and the 774 Local Government Councils as revenue for September 2024. This was disclosed at the end of the October 2024 FAAC meeting in Abuja. The total distributable revenue comprises several components: N124.716 billion in statutory revenue, N543.518 billion…
