MTN Group, Africa’s biggest mobile operator, said the decline in value of the Nigeria naira and inflation were its biggest undoing in the West African country. The African also said that it recorded huge losses in the first half (H1) of 2024 adding that it faced challenges in its Nigerian operations, the mobile operator’s biggest […]
Read MoreWhile the Nigerian telecoms industry awaits take-off playing by the Mobile Virtual Network Operators (MVNO), in South Africa a recently licensed MVNO, C-Connect, is looking to shake-up the market with cost-effective offerings by introducing non-expiring data and voice plans.. During the launch in Johannesburg yesterday, the company said it aims to differentiate itself from competitors […]
Read MoreAs cyber criminals increasingly target Africa, Nigerian businesses are experiencing major phishing attempts, in various forms, as well as business email compromise. This came up during a recent webinar hosted by Rubrik, in cooperation with ITWeb Africa, for Nigerian IT and security decision-makers. The webinar covered the findings of new research from Rubrik Zero Labs, ‘The state of […]
Read MoreThe social media giant Meta Platforms plans to spend between $96 billion to $99 billion from the money it will make from your activities in all its platform: Facebook, Instagram, Threads and WhatsApp, among other products and services. As at June 30 of 2024, the already made $39 billion. “We expect full-year 2024 total expenses […]
Read MoreSeplat Energy PLC, Nigeria’s independent energy company was able to outrun its previous profit before tax (PBT) to N43.5 billion as its latest financial statement for the six months ended 30 June 2024 revealed a PBT of N244 billion Its unaudited results for the for the six months ended 30 June 2024, declaring US 6 […]
Read MoreThe 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 More
