Tag: Business

Chery Automobile sales increase by 52.6%
Business

Chery Automobile sales increase by 52.6%

Chery Automobile says it sold 1,881,316 automobiles in 2023, a 52.6 per cent increase over the previous year. The PUNCH reported that this was announced in a statement by Chery Automobile’s official national partner in Nigeria, Carloha. The Chinese automaker reported that around 937,148 automobiles were exported, indicating a 101.1 per cent rise over the […]

Nigerian market not ready for electric vehicles - Stakeholders
featured Transportation

Nigerian market not ready for electric vehicles – Stakeholders

Industry experts have warned against early adoption of electric vehicles in Nigeria. According to The PUNCH, they cited inadequate power supply, a scarcity of licensed EV technicians, limited charging infrastructure, and the requirement for specific training to service diverse EV models. “There are still many disputes going on about this. Some major automakers are creating electric […]

Banks offload final $1.2bn debt From Musk’s Twitter buyout
Tech

X replaces SMS 2FA support with passkeys on iOS

X, previously known as Twitter, announced on Tuesday the introduction of support for passkeys, a newer and more secure method of logging in compared to traditional passwords. This feature will soon be available to U.S. users on iOS devices. This technology is gaining popularity and has been integrated into various apps recently, including PayPal, TikTok, […]

Amazon, OnlyFans founder express interest as TikTok sale deadline nears
Tech

TikTok lays off 60 staff

TikTok has recently undergone a workforce reduction of approximately 60 positions, primarily in sales and advertising, marking the latest instance of a tech company implementing layoffs in a challenging January. Despite facing congressional scrutiny due to its Chinese parent company, TikTok, headquartered in Los Angeles and Singapore, maintains its status as the leading app on […]

FG opens applications for Girls in ICT competition
Tech

FG opens applications for Girls in ICT competition

The Federal Government through the Ministry of Communications, Innovation and Digital Economy, opened the portal for applications for Nigerian girls to participate in its latest initiative called the National Girls in ICT Competition. The Ministry announced this initiative, which is aimed at bridging the current gender gap in the ICT space in Nigeria, via a […]

Lagos shuts down Lekki Conservative Centre
News

Lagos shuts down Lekki Conservative Centre

The Lagos State government, through the Lagos State Safety Commission, has ordered the immediate shutdown of the Lekki Conservation Centre. In a Facebook post on Monday, the centre stated, “Following the viral social media post on the State of the facility at the Lekki Conservation Centre, the Lagos State Government through its agency, Lagos State […]

10 oldest African billionaires in 2024
News

10 oldest African billionaires in 2024

Within this vast economy are high-net-worth individuals whose entrepreneurial zeal and long-term success have made headlines for decades. These elderly billionaires have navigated economic downturns, political upheaval, and shifting market landscapes, putting their resilience to the test. However, their capacity to adapt, innovate, and overcome adversity has been critical to their sustained success. AMBusiness highlights […]

Bitcoin holder Micro Strategy loses $440K to hackers
Crypto

Bitcoin falls to $30K

Alex Omenye Despite the United State’s government endorsing Bitcoin Spot ETFs, the price of bitcoin fell precipitously in January. A striking contrast to the lofty trusts that the cryptocurrency sector had before the SEC made its decision. Bitcoin ETFs have sparked intensely optimistic estimates for the price of BTC and have been hailed as a […]

Tunisia clears all 2023 debts despite financial pressure
News

Tunisia clears all 2023 debts despite financial pressure

Tunisia has managed to pay off all of its internal and external debts for 2023, despite significant pressure on the state resources. Reuters reported that this was confirmed by the Finance Minister, Sihem Boughdiri on Monday, putting an end to concerns about the possibility of a default. However, an official document stated that Tunisia will pay $4 billion in […]

Telegram expands crypto wallet access to users
Tech

Telegram adds view-once audio, video message, other features

Telegram is introducing a number of enhancements, such as “view-once” video and audio messages as part of its January feature drop. New read-time controls and the option to halt recording while delivering an audio or video message are also being added to the platform. In September 2023, the app included “view-once” functionality for images and […]

Otedola asks top First Bank official to resign over 'wasteful party'
Business featured

Forbes: African billionaires’ combined wealth hits $82.4bn

Forbes estimates that Africa’s wealthiest individuals have a combined net worth of $82.4 billion, and the return of Nigerian billionaire investor Femi Otedola to the list has boosted their fortunes. According to The Times, prior to Otedola’s return to Forbes as Nigeria’s fourth richest person with $1.2 billion, the combined wealth of Africa’s billionaires was […]

Apple to pay artists to have spatial versions
Business

Apple to pay artists for spatial versions

Alex Omenye Apple has disclosed it will pay additional royalties starting this month to artists to have a spatial audio version on Apple Music. The royalties will be up to 10% if an artist has all their songs in spatial audio, according a report by 9to5Mac. “Pro-rata shares for Spatial Available plays will be calculated […]