Tag: market

Amazon's Twitch to lay off 500 employees
Business

Amazon’s Twitch to lay off 500 employees

Amazon.com Inc.’s live streaming network, Twitch, is apparently planning a large personnel reduction, with around 35% of its workers, or approximately 500 employees, estimated to be affected. The announcement of these losses came today, Wednesday, kicking off a sequence of job cuts within the company. According to sources, this decision followed concerns over Twitch’s financial losses and […]

Seedstars Africa raises $30m to fund African startups
News Tech

Seedstars Africa raises $30m to fund African startups

The European Investment Bank’s subsidiary, EIB Global, has committed $30 million in finance to Seedstars Africa Ventures. Following a $8 million investment, French private equity firm LBO France, the fund’s anchor investor, has made a fresh commitment. With a goal of raising between $80 million and $100 million, the fund will help seed and Series […]

Nigerian Exchange ahead in Africa with 33.70% gain
Business

Naira falls at black market despite CBN’s FX backlog clearance

The value of the naira declined considerably on Tuesday on the P2P and physical black markets, notwithstanding the infusion of foreign exchange liquidity at the official market and the considerable clearing of foreign exchange backlogs by Nigeria’s top bank. The naira traded at around N1230/$ in the early hours of Tuesday on the P2P market, […]

Seven currencies greater than the US dollar
Economy News

Seven currencies greater than the US dollar

One of the most valued currencies in the world, the US dollar is the preferred lender for many nations looking to purchase US bonds denominated in dollars. Even though the USD is seen as a trustworthy currency, there are other currencies that perform better. This implies that the foreign currency has a value higher than […]

Cameroonian city ranked most expensive in Africa
News

Cameroonian city ranked most expensive in Africa

Living in African cities can be a genuine financial burden these days, owing to the recent increase in inflation. Everything is getting more expensive, from housing to groceries. According to one of the world’s leading data and research platforms, Numbeo, food and utilities, for example, have seen price increases. Numbeo reports that Douala, Cameroon is […]

Kenya overtakes Nigeria in start-up funding ranking
Business

Kenya overtakes Nigeria in start-up funding ranking

Alex Omenye Nigeria lost the top position for the most funded startups in Africa to Kenya. This development was contained in an analysis of the African startup funding in 2023 by a research outfit, ‘Africa: The Big Deal.’ The report stated that startups in the East African country attracted the largest amount of funding in […]

JAPA: Overstay your visa, face permanent ban, US warns Nigerians
News

Nigeria to start non-physical passport application March 8

Alex Omenye The Federal Government has announced its finalized arrangements to commence full non-physical passport applications and their subsequent delivery to applicants using courier services. “Starting March 8, Nigerians will no longer have to come to our offices for their biometric,” the Minister of Interior Olubunmi Tunji-Ojo disclosed on Monday’s Channels Politics Today. “They can […]

Nigerian digital entreprenuers to look out for in 2024
News Tech

Nigerian digital entreprenuers to look out for in 2024

In the dynamic landscape of Nigeria’s digital sphere, a new generation of digital entrepreneurs is emerging as pioneers, shaping the future of technology and innovation in the country. These entrepreneurs make a living and advance humanity with digital platforms. These visionaries, armed with innovative ideas and a relentless drive, turn challenges into opportunities, bringing about […]

Why Nigerian billionaires dropped on global billionaires ranking
Business featured

Why Nigerian billionaires dropped on global billionaires ranking

Nigerian billionaires, Aliko Dangote – President/Chief Executive of the Dangote Group, AbdulSamad Rabiu – BUA Group chairman, and Mike Adenuga – Globacom chief, have dropped on the global billionaires ranking. This is coming less than one year after Forbes magazine named three Nigerians among its 2460 individual billionaires in its 2023 Billionaires list. According to […]

Microsoft removes Problem Steps Recorder from Windows 11
News Tech

Microsoft removes Problem Steps Recorder from Windows 11

Microsoft has declared its move to remove the Problem Steps Recorder tool from Windows 11. When Microsoft first released Windows 7 in 2009, Steps Recorder was known as Problem Steps Recorder. It’s a straightforward screen recording tool that records user activity. The tool’s primary purpose was to automatically generate problem captures for use as proof […]

LASBCA laments rising attacks on officials
News

LASBCA laments rising attacks on officials

The General Manager of the Lagos State Building Control Agency, Gbolahan Oki, has condemned the recent series of attacks on agency staff. According to The PUNCH, he said this in response to a recent attack on its officials with hazardous weapons and charms while on routine patrol around Lagos’ Musical Village, Awolowo Road, and Ikorodu area. […]

Kuda hits N55.8trn transactions
News Tech

Kuda hits N55.8trn transactions

Nigerian neobank Kuda has done ₦55.8 trillion in transactions since its inception in August 2019, CEO Babs Ogundeyi disclosed in a New Year’s greeting to subscribers. While serving more than seven million clients, the bank, according to Ogundeyi, accomplished this milestone. “We are proud of the headway we made against all odds,” he said. Kuda, […]