The substantial increase in fuel prices and the lower contribution of Nigeria to the Group after the naira devaluation contributed to a decline in EBITDA margins to 45.3% from 49.5% in Q1’24 and 46.5% in Q4’24. Latest report released today revealed constant currency EBITDA increased 11.3% whilst reported currency EBITDA declined by 23.3% to $523 […]
Read MoreSouth Africa’s TV MultiChoice posted a pretax loss of $38 million for the year ending in March, the company said Wednesday citing weak local currencies and a drop in subscribers. The company is the subject of a takeover bid by France’s Canal+, which already holds more than 35 percent of MultiChoice’s shares. “Volatile and weaker […]
Read MoreMinister of Finance and Coordinating Minister of the Economy, Wale Edun, said that Nigeria will be getting some funds from the World Bank in a few weeks. The latest data from the Central Bank of Nigeria has revealed that the federal government spent about $2.2 billion on debt servicing in the first five months of […]
Read MoreThe Nigerian National Petroleum Company Limited has denied reports, that it inflated the subsidy on Premium Motor Spirit by N3.3tn during the administration of former President Muhammadu Buhari. A statement by its spokesperson, Olufemi Soneye, on Monday, argued that its subsidy claims were verifiable, stressing that all relevant records on subsidy had been sent to […]
Read MoreThe multi-million dollar world-class Dangote Sinotruk West Africa Ltd CKD Plant established by the business mogul, Aliko Dangote was has been unveiled with a call on other eminent Nigerians to emulate Mr Aliko Dangote in using their wealth to benefit the nation. At the unveiling, the Governor of Lagos State, Babajide Sanwo-Olu, announced his administration’s […]
Read MoreThe advancing digital learning project of Airtel Africa, which cuts across Africa in five-year plan gupls $57m partnership with UNICEF, and connects almost 1,200 schools to the internet and providing free access to online educational platforms to thousands of students. The Airtel Africa, 2024 Sustainability Report which was released today showed much the provider of […]
Read MoreShareholders of Ecobank Group has applauded the Group’s strong performance in 2023 with its net revenues exceeding US$2 billion mark for the first time in nearly 10 years. Ecobank Transnational Incorporated (“ETI”), the parent company of the Ecobank Group, held its 36th Annual General Meeting in Lomé, Togo, which was followed by an Extraordinary General […]
Read MoreAfrican Export-Import Bank (Afreximbank) has announced an additional disbursement of US$925 million under the syndicated US$3.3 billion crude oil-backed prepayment facility sponsored by the Nigerian National Petroleum Company (NNPC) Limited. This brings the total current funded facility size to US$ 3.175 billion. Arranged and coordinated by Afreximbank, the accordion arrangement saw the raising of […]
Read MoreIHS Holding Limited group, one of the largest independent owners, operators, and developers of shared communications infrastructure in the world by tower count, has today published its 2023 Sustainability Report. The report covers sustainability activities from January 1, 2023 to December 31, 2023, and is the second report prepared in accordance with the Global Reporting […]
Read MoreThe Bureau de Change (BDC) operators in Nigeria have till December this year to reapply and the Central Bank of Nigeria (CBN) says, the minimum capital base for Tier-1 BDCs is N2bn while that of Tier-1 is set at N500m. Also, the mandatory caution deposit of N200m for tier-1 BDC licence holders was removed while […]
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