Jumia, Africa’s leading e-commerce platform, showcased its resilience and strategic progress despite a challenging economic environment. The company reported a 17% decline in revenue to $36.5 million but revealed a strong underlying performance with a 15% increase on a constant currency basis, reflecting the impact of currency devaluations in key […]
Month: August 2024
Nigeria’s burgeoning telecommunications landscape has propelled the West African tech economy to new heights, with the region’s telecoms sector now valued at $63.1 trillion. This significant revenue surge is largely driven by the rapid growth in Fintech, E-commerce, and digital marketplaces, which collectively contribute 80% of the sector’s annual growth. […]
The Central Bank of Nigeria (CBN) has approved a significant merger between Unity Bank Plc and Providus Bank Limited, aimed at bolstering the stability of Nigeria’s financial system and mitigating potential systemic risks. The announcement was made by Mr. Hakama Sidi Ali, a spokesperson for the CBN, in Abuja. In […]
L-R: Deputy Director, Manufacturing Services, Engineering Directorate, NASENI, Dr. Salawu Morufu; Director, Manufacturing Services Department, Engineering Directorate, NASENI, Engr. Dr. Olayode Olasupo; Director, Information, New Media & Protocol, NASENI, Mr. Segun Ayeoyenikan; Research Director, NASENI, Engr. Prof. Abdulmalik Onuwe; Prof. Abass Alade, Department of Chemical Engineering, LAUTECH; Research Director and representative of […]
To enhance transparency and protect consumers, the Nigerian Communications Commission (NCC) has announced a new directive requiring telecommunications operators to streamline their tariff plans, bundles, and promotional offers. Issued on July 29, 2024, the directive, titled “Guidance on the Simplification of Tariffs in the Nigerian Communications Sector,” aims to provide […]
The Nigerian Communications Commission (NCC) has refuted reports circulating online claiming that it approved new tariffs for mobile network operators. On Saturday, several blogs published alarming headlines, such as “Nigerians to Pay More for Calls as NCC Approves New Tariff Plans for Telcos,” “Nigerians to Pay More for Calls as […]
The Nigerian stock market has recently been affected by the global stock market turmoil that began last Friday and has now reached the Nigerian Exchange (NGX). Midday trading on the NGX showed a 0.27% decline in the All-Share Index, with telecommunications giant MTN Nigeria experiencing a significant drop. MTN’s shares […]
The African Public Relations Association (APRA) has announced its strong solidarity with the government and people of Nigeria as the nation faces protests over rising living costs, now in their second day. APRA emphasizes the need for sincere and continuous dialogue to swiftly address the issues that have led to […]
Despite urgent appeals and warnings from the Federal Government, National Assembly, state governments, security agencies, and organized private sector groups, the #EndBadGovernanceInNigeria# protests have caused significant disruptions to business operations across major cities. Many businesses, including MSMEs, manufacturing firms, ICT centers, petrol stations, and other key players, opted to remain […]
WhatsApp, a messaging service in Nigeria, is considering suspending its operations in the country in response to recent regulatory actions. This potential suspension comes after the Federal Competition and Consumer Protection Commission (FCCPC) imposed a hefty $220 million fine on Meta Platforms, WhatsApp’s parent company, for alleged violations of data […]