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Tag: Nigeria

World Bank approves $300m support package for Ghana's economic recovery
featured

World Bank approves $300m support package for Ghana’s economic recovery

The World Bank has approved $300 million in funds to help Ghana’s economic recovery, according to a statement issued on Tuesday. According to Reuters, this came after Ghana successfully negotiated a reorganization of $5.4 billion in loans with its official creditors. The approved loan is the first in a series of three transactions totaling $300 million. The […]

Nigerian edtech startup AltSchool expands into Europe
Tech

Nigerian edtech startup AltSchool launches in Kenya

Nigerian edtech startup, AltSchool Africa has opened up in Kenya, its second biggest market by revenue, the company’s co-founder, Adewale Yusuf disclosed. East African nation, Kenya generates the second-highest income for the startup. As a result, AltSchool will now concentrate on offering its Kenyan clients direct assistance in addition to working to expedite local payment […]

Power crisis hits manufacturers as energy costs rise 27%
Business

FG plans to sell five power plants for $1bn

The Federal Government, through the Bureau of Public Enterprises, is now conducting transactions to sell five power plants under the National Integrated Power Projects for around $1.15 billion. Although individuals involved with the development said that the cost of the plants should surpass $5 billion based on worldwide benchmarks, they revealed that the BPE was […]

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 […]

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