BUSINESS

Bank offers loans to Nigerians living abroad to build homes in Nigeria

Nigerians in the diaspora have an opportunity to own houses in the country and also participate actively in money and capital markets, thanks to several investment packages rolled out by Ecobank. Mrs. Olukorede Demola-Adeniyi, Head of Ecobank’s Consumer Banking, has said that the bank is offering mortgage loans to Nigerians living abroad to finance property ownership in the country. She …

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Nairobi ranked top city in Africa for innovation – report

The recently released Knight Frank Africa Horizons Report 2021/22, ranked Nairobi as the top city in Africa for innovation, followed by Cape Town in second, Kampala third, with Cairo and Johannesburg at fourth and fifth place respectively. The report notes that the ability of African cities to emerge resilient from the pandemic will depend on their ability to innovate, providing long-term social …

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Airtel Africa appoints Nigerian as its new Chief Executive

Airtel Africa has appointed Segun Ogunsanya as its Managing Director/Chief Executive Officer (CEO). The development follows the retirement of Raghunath Mandava as the company’s MD and CEO. “Segun has more than 25 years business management experience in banking, consumer goods, and telecoms,” the telecom firm noted in a statement on Thursday. An electronics engineer, and a chartered account, Ogunsanya will …

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Mobile phone users in Kenya and Nigeria increasingly targeted by malware apps – Report

NAIROBI, Kenya, April 29, 2021/ — With Kaspersky (africa.Kaspersky.com) research showing that stalkerware affected one out of every 100 mobile users in Kenya and Nigeria in 2020 and malware every four out of 100 in South Africa, consumers must remain vigilant when it comes to their online activities if they are to keep themselves safe from the growing threat of …

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Kenyan eco-friendly footwear brand wins sustainable design contest

Pine Kazi, a women-led shoe design house based in Kenya, is the winner of Fashionomics Africa’s sustainable fashion competition. The fashion company, which converts pineapple leaf and recycled rubber into fashionable footwear, wins a $2,000 cash prize, access to media exposure opportunities, and mentorship and networking opportunities from competition collaborators. Fashionomics Africa is an initiative of the African Development Bank, …

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Spain unveils plan for increased engagement with Africa

Spain’s Prime Minister Pedro Sanchez has unveiled a new policy “Africa Focus 2023”. He wants to build closer economic and institutional ties with various African countries. Emma Wallis reports Spain is looking to strengthen its political, economic and institutional ties with various African countries. On Monday, March 29, the prime minister, Pedro Sanchez, unveiled his new plan at an event: …

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African Continental Free Trade Area and UNDP announce new partnership

The AfCFTA Secretariat and the UN Development Programme (UNDP) have signed a strategic partnership to promote trade as a stimulus for Africa’s socioeconomic recovery from the COVID-19 crisis, and as a driver of sustainable development particularly for women and youth in Africa, in line with the SDGs and Agenda 2063 common vison for the continent. The agreement was sealed yesterday by …

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A quarter of users in South Africa, Kenya and Nigeria attacked by malware – new Study

LAGOS, Nigeria, March 23, 2021/ — There is a common misconception that the most dangerous threats to encounter on modern users’ digital journeys are likely to appear during Internet surfing. The reality however, based on the most recent analysis of cyberattacks in South Africa, Kenya and Nigeria in 2020 by Kaspersky experts demonstrates that users are in fact more likely …

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WTO to assist African women entrepreneurs — Okonjo-Iweala

The Director General of World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala, has pledged that the organisation would assist African women entrepreneurs to improve their businesses. Okonjo-Iweala, who recently assumed office at the global organisation, gave the assurance during a visit to Nigeria’s Minister of Women Affairs, Mrs Pauline Tallen, on Wednesday in Abuja. She said the visit of the WTO …

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African Development Bank named World’s Best Multilateral Financial Institution

The prestigious US magazine, Global Finance, specializing in financial markets and investment banking, has named the African Development Bank (AfDB) as the “Best Multilateral Financial Institution in the world for 2021”. The award is a global recognition for the path breaking efforts of the African Development Bank as it transforms itself into a solutions bank for Africa, through a combination …

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Insecurity discouraging investments in Nigeria – Netherlands

The widespread insecurity in Nigeria is scaring away prospective investors. Speaking in Abuja on Tuesday, the Netherlands Ambassador to Nigeria, Harry van Djik, said the Nigerian government should address insecurity as this was a crucial factor that had been affecting investment in the country’s economy. Djik spoke during a visit to the Minister of Industry, Trade and Investment, Adeniyi Adebayo. …

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Time for a digital scale-up in Africa to unlock creative economies, panelists say

ABIDJAN, Ivory Coast, February 24, 2021/ — Digital platforms in Africa should scale up to take advantage of the continent’s surging demand for creative content, said Africa Investment Forum Senior Director Chinelo Anohu, adding that the African Development Bank flagship entity is providing advisory services and investment support to creative players. The Africa Investment Forum was working to promote content …

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Russia, Togo pledge closer relations in Moscow

In order to strengthen political dialogue and promote economic relations, Professor Robert Dussey, Minister of Foreign Affairs, African Integration and Togolese Abroad, held diplomatic talks on February 16, 2021 with his Russian counterpart, Foreign Minister Sergey Lavrov, in St. Petersburg. According to reports, Professor Dussey’s visit was on the invitation by Moscow, and came on exactly one year after their …

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ANALYSIS: Cryptocurrency Ban in Nigeria – History, Implication and Effect

A look into the ban on cryptocurrency in Nigeria by Ibrahim Moshood and Oneyka Cindy Ojogbo, Associate and Senior Associate respectively of the international law firm Centurion Law Group In a letter dated 5 February 2021[1], the Nigerian government through its apex bank – the Central Bank of Nigeria (“CBN”) – clamped down on cryptocurrencies in Nigeria. The letter specifically …

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Mastercard, MTN enable African consumers to shop and pay online globally

Mastercard and MTN empower millions of consumers in Africa to make payments on global platforms, advancing digital financial inclusion · Partnership will enable millions of MTN customers to pay on global online platforms with a Mastercard virtual payment solution linked to MTN MoMo wallet · Mastercard’s technology will enable new digital commerce opportunities for consumers and merchants with or without …

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