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Indorama gets $65m to support global food security

British International Investment has pledged $65 million to support the expansion efforts of Indorama Eleme Fertilizer and Chemicals in Nigeria. This financing agreement is part of a broader $1.25 billion financial package to support Indorama, the largest fertilizer producer in SubSaharan Africa, which will enhance its production capacity and build a new port terminal for […]

China bans Intel, AMD processors in govt computers
News

China bans Intel, AMD processors in govt computers

China has issued guidelines prohibiting the use of US-made processors from companies like AMD and Intel in government computers and servers, The Financial Times reported. Additionally, the guidelines restrict the use of Microsoft Windows and foreign database products in favor of domestic alternatives, signaling the latest development in the ongoing tech trade tensions between the […]

MTN winds down BEE scheme, pay out modest returns to investors
Uncategorized

MTN Group revenue surges despite inflation

MTN Group has announced a notable surge in revenue and subscriber numbers despite facing challenges throughout 2023. According to the telecommunications company, its revenue soared by 13.5% to R210 billion ($11 billion). Data revenue accounted for R84 billion ($4.4 billion), voice revenue contributed R83 billion ($4.3 billion), and MTN MoMo, its fintech revenue arm, totaled […]

Tech

Elon Musk pays X creators $45m in seven months

Elon Musk’s social media company, X, said it has shared over $45 million to 150,000 content creators on the platform over the last 7 months. The amount was allocated to its advertising revenue-sharing programme, which started in July 2023. Although several creators on the platform have complained that they are paid too little compared to […]

Embattled Boeing CEO Dave Calhoun steps down
Aviation

Embattled Boeing CEO Dave Calhoun steps down

Boeing CEO Dave Calhoun announced on Monday his decision to step down at the end of 2024, alongside several other executives leaving their positions, amidst ongoing concerns regarding the safety of the company’s aircraft. Calhoun, who assumed the CEO role in 2020, referred to the Jan. 5 incident involving Alaska Airlines Flight 1282, where a […]

Binance working with Nigeria govt to resolve exec's detention, CEO says
News

Binance reacts to escape of executive from custody

Binance, a leading global cryptocurrency exchange platform, announced on Monday its collaboration with Nigerian authorities to ensure the safety of its employees and address ongoing issues with the government. This comes after reports surfaced that Nadeem Anjarwalla, one of the detained Binance executives in Nigeria, escaped from custody. Sources revealed that Mr. Anjarwalla, 38, escaped […]

Binance opens crypto trading to Syrians after US lifts sanctions
News

Binance founder Changpeng Zhao gains $8.42bn in 72hrs

Embattled billionaire and founder of Binance, Changpeng Zhao’s, net worth has recorded gains of up to $8.42 billion, pushing his total wealth to nearly $50 billion, driving his year-to-date gains up by $13.9 billion. According to data from the Bloomberg Billionaires Index, Zhao had a net worth of $48.3 billion on Monday,  March 25, 2024, […]

Chinese smartphone and electric vehicle manufacturer Xiaomi Corp is set to raise up to $5.27 billion through a top-up share placement. 
Uncategorized

Xiaomi unveils affordable, stylish electric vehicle vision

Xiaomi’s CEO on Monday, articulated his vision for the company’s inaugural electric vehicle (EV), aiming for it to be the “most aesthetically appealing, user-friendly, and intelligent car” priced below 500,000 yuan ($69,424). As the Chinese electronics giant prepares for orders to open this week, it will officially announce the price range and commence order-taking for […]

[ICYMI] Ethiopia to let foreigners own properties, says PM
News

[ICYMI] Ethiopia to let foreigners own properties, says PM

Onwubuke Melvin Ethiopia aims to pass legislation to let foreigners own real estate as part of the country’s broader plan to open up the economy and attract investors, Prime Minister Abiy Ahmed said on state TV late on Saturday. Currently, foreigners are not allowed to own property in Ethiopia, either residential or commercial buildings, which […]

Internet outage: FG seeks joint cable protection in West Africa
News

Internet outage: FG seeks joint cable protection in West Africa

Onwubuke Melvin Following a recent internet outage that affected the region, the Federal Government has called on West African countries to work together in order to protect common telecommunications infrastructure. This was disclosed by the Executive Vice Chairman of the NCC Aminu Maida, during the 21st West Africa Telecommunications Regulatory Assembly Annual General Meeting held […]