The Nigeria Government on Tuesday approved two critical projects for the digital economy and technology startup ecosystem in the country. The Minister of Communication, Innovation and Digital Economy, Dr Bosun Tijani, who made this known on Tuesday stated that the first project has to do with the setting up of a special purpose vehicle, a […]
Read MoreAirtel Africa Plc, just like the MTN Group was badly hit by the currency devaluation of the Nigerian Government thereby resulting to losses of up to $4,979 million, which was a decline of 5.3%, and leaving the telecom operator with $550 million for debt payment in May 2024. The Group in its year ended 31 […]
Read MoreTelecommunication operators will invest $26 billion in cloud services in 2024, with expenditure growing to $65 billion in 2028. Telecommunications cloud refers to the implementation of cloud technology, services, and architecture into operator core networks, with this centralisation enabling operators to develop automated network management systems. An extract from the new report, Global Telecommunications Cloud Strategies […]
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Dangote Sugar Refinery Plc (DSR) has unveiled plans to produce 700,000 metric tonnes of refined sugar from locally grown sugarcane in the next four years, through its Backward Integration Programme (BIP). Chairman of Dangote Sugar Refinery Plc, Aliko Dangote stated this at the company’s 18th Annual General Meeting (AGM) held yesterday in Lagos, just as […]
Read MoreGlobal BaaS (Banking-as-a-Service) platform revenue generated from account/card issuing and transaction fees will grow by 158% to 2028; up from $36.4 billion this year. This expansion primarily comes from API deployment across eCommerce and freelance platforms, by connecting consumers to innovative financial tools, and so unlocking additional revenue streams for BaaS providers. Juniper Research in […]
Read MoreWema Bank Plc has launched an anti-fraud campaign to avoid the repeat of the setback of 2023, wherein about $595,000 was lost to fraudulent activities, and to protect its customers and other Nigerians against fraudulent activities These incidents, primarily executed through digital channels, highlighted the reality of digital fraud in the banking sector. Wema Bank […]
Read MoreZegtel, a virtual network operator (MVNO), is the latest to join the train of the MVNO business in Nigeria with a promise to invest $21.8 million over the next five years to expand mobile connectivity across the country. The telco said this investment aims to bridge the digital gap and deliver affordable connectivity to millions […]
Read MoreNigerian Business Leaders Push for Customer Privacy as Third-party Cookies Seeks Google Partnership for Strategic Advantage Seek Competitive Edge in Privacy-First Era, Partner with Some companies from Nigeria joined Google West Africa at a roundtable to discuss the shift towards privacy-first marketing as third-party cookies are phased out. The forum brought together leaders from FairMoney, […]
Read MoreThe Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has hiked the benchmark interest rate by 200 basis points to 24.75 percent. This is according to a Tuesday communique by the CBN governor Yemi Cardoso after the second MPC meeting of his tenure in Abuja. The new interest rate is a jump […]
Read MoreMTN Group has decided to withdraw from two West and Central African markets, as outlined in its recent 2023 report. The telecom giant has agreed to sell its equity interests in Guinea-Bissau and Guinea-Conakry to Telecel. According to the statement in MTN’s financial report for 2023, MTN reached this agreement in December 2023. “Assets and liabilities of […]
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