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DOMESTIC VACCINE PRODUCTION HELPS NIGERIA BEYOND COVID-19

DOMESTIC VACCINE PRODUCTION HELPS NIGERIA BEYOND COVID-19

Business
The World Health Organization (WHO) on Friday chose Nigeria as well as five other African nations to assist in COVID-19 vaccine production.  This happened in response to Africa’s limited access to the vaccines. Moreover, the Director-General of the World Health Organization, Tedros Ghebreyesus, stated that the COVID-19 pandemic showed that dependence on a select few companies to give out worldwide public items is hindering and harmful. He emphasized the need to raise all regions’ capacity to manufacture the health items they need to tackle health emergencies. Furthermore, Tedros championed fair access to COVID-19 vaccines and lashed out at rich nations who hoard jabs and leave Africa behind. On Friday, the European Union- African Union summit in Brussels held a ceremony markin...
EGYPTIAN STARTUP MONEYHASH RAISES $3MILLION PRE-SEED AS IT EMERGES FROM BETA

EGYPTIAN STARTUP MONEYHASH RAISES $3MILLION PRE-SEED AS IT EMERGES FROM BETA

Business, Uncategorized
MoneyHash, an Egyptian startup that concentrates payment and fintech solutions via one integration, closed a multimillion US Dollar funding round in June 2021 has announced a US$3 million extension to the round The startup was founded in late 2020 by Mustafa Eid, Nader Abdelrazik, and Anisha Sekar.  It gives a consolidated checkout experience erected on top of a secure super-API. UAE-based venture capital firm COTU Ventures led the round and MENA fintech fund VentureSouq, as well as European fund VentureFriends, pitched in.  In addition, other assisting funds include Nuwa Capital, The Continent Venture Partners, First Check Africa, Kepple Africa Ventures, Fox Ventures, and LoftyInc Capital Management. A worldwide group of investors also pitched in, which include Belvo’s...
BEST WAYS TO ACCELERATE 5G ROLLOUT IN NIGERIA

BEST WAYS TO ACCELERATE 5G ROLLOUT IN NIGERIA

Business, Uncategorized
The Nigerian government is eager to onboard the 5G rollout in the country.  However, some issues need addressing.  Firstly, bear in mind that most people in Nigeria use smartphone devices on the 2G and 3G networks.  This means that 5G rollout will be available to only a select few, especially as most Nigerian smartphone users do not use 4G, its younger brother. Secondly, the relatively low cost of 2G and 3G and the fact they work effectively with web browsing, VOIP, video conference calls make these compete with 5G rollout.  Consequently, the Nigerian government as well as the Nigerian telecommunications firms have work to do in convincing Nigerians to come aboard 5G. Meanwhile, let us look at the benefits of 5G and what this means for Nigerians. BENEFITS OF 5G ROLLO...
FLUTTERWAVE RAISES $250 MILLION TO BECOME AFRICA’S MOST ESTEEMED STARTUP

FLUTTERWAVE RAISES $250 MILLION TO BECOME AFRICA’S MOST ESTEEMED STARTUP

Business, Uncategorized
Afrocentric FinTech company Flutterwave announced on Wednesday it raised $250 million in its single-highest funding cycle at present. This values the firm at more than $3 Billion as it aims at mergers and acquisitions as well as expanding its existing customer base. Indeed, Facebook Inc co-founder Eduardo Saverin’s venture capital firm B Capital Group led this latest funding round. Additionally, Boston-based hedge fund Whale Rock Capital Management according to Flutterwave. The San Francisco-headquartered company was founded in Nigeria in 2016. It concentrates on individual and consumer transfers. Moreover, it is one of the many FinTech companies looking to enhance and leverage Africa’s thriving payments market. Flutterwave founder and CEO Olugbenga Agboola says, “It (funding) ...
IS FINTECH THE LIFE JACKET AFRICAN SMES NEED?

IS FINTECH THE LIFE JACKET AFRICAN SMES NEED?

Business
African SMEs need a life jacket.  However, the 64 thousand Dollar question remains: can FinTech throw this buoy to the drowning African SMEs?  This article explores the role FinTech plays in Africa as well as exactly how it can help save the continent’s SMEs. Firstly, FinTech is a financial technology that accelerates and improves financial services chiefly through software.  African enterprises use FinTech to make payments, facilitate loan services, investment as well as insurance deals. Moreover, African SMEs find FinTech very attractive because smartphone users in remote areas readily access the apps.  Many bank branches are not available in far-flung areas in Africa so FinTech is appreciated. In addition, businesses looking to upgrade can employ FinTech to achieve this.&...
BUA Cement  Commissions 3million Metric Tonnes Cement Plant In Sokoto

BUA Cement  Commissions 3million Metric Tonnes Cement Plant In Sokoto

Business
Nigerian Cement manufacturing company, BUA Cement PLC on thursday, January 27th commissioned a 3 million metric tonnes Sokoto Line 4 cement factory in Sokoto State, Nigeria. The event featured prominent Nigerians in attendance including the President of the Federal Republic of Nigeria, Muhammed Buhari who commisioned the plant, and the Executive Governor, Sokoto State among others. In his opening remarks, Alhaji Abdul Samad Rabiu Chairman, BUA Group, stated that BUA Cement has continiously sought to expand it's capacity to meet the ever growing demand for Cement in Nigeria. Furthermore, the chairman stated that in 6 years, 4 plants have been commissioned, 2 in Obu, Edo State and two in Sokoto, taking the company’s total production capacity to 17 million metric tonnes. “In th...
SONA GROUP RECEIVES Inside Business Africa’s 2021 Top Brand Award

SONA GROUP RECEIVES Inside Business Africa’s 2021 Top Brand Award

Business, Economy
Inside Business Africa, Africa's award winning business magazine & Television programme recently presented the respected IBA Top Brand Awards for Corporates to SONA Group of Industries and Top Brand Award – Malt Category to MALTONIC a product by SONA Group. Mr. A. K. Mirchandani, Chairman/CEO, SONA Group of Industries The award was presented to, the Chairman of the company Mr. A. K. Mirchandani,  at the official headquarters of SONA Group at Sango Ota, Ogun State. Receiving the award, the Mr. Mirchandani dedicated the award to the commendable efforts of his  staff thanking them for their resilience and their belief SONA vision over the years. He further stated that Maltonic which has been in the market for over 25 years remains a brand to beat in the malt drink m...
BUA Foods Plc Engages Stakeholders Through NGX Facts Behind the Listing

BUA Foods Plc Engages Stakeholders Through NGX Facts Behind the Listing

Agriculture, Business, Capital Market
Nigerian Exchange Limited (NGX or The Exchange) started the year off with the listing by introduction of BUA Foods Plc on the Main Board of The Exchange. In keeping with its practice of intimating stakeholders with details of notable transactions such as these, NGX hosted the Management of BUA Foods to a virtual Facts Behind the Listing and Closing Gong Ceremony on Tuesday, 18 January 2022.   Speaking at the event, Chief Executive Officer, NGX, Mr. Temi Popoola, commended BUA Foods Plc for taking the bold step to join its subsidiary company, BUA Cement, as a publicity listed company on The Exchange. He further stated, “The listing of BUA Foods Plc on The Exchange reaffirms the confidence that leading Nigerian corporates have in NGX as the partner of choice for raising capital and enabl...
FG Secures $700m World Bank Loan to Tackle Poor Water Supply

FG Secures $700m World Bank Loan to Tackle Poor Water Supply

Business, Economy
The federal government has disclosed that it has secured a $700 million World Bank loan for specific water projects around the country. The Minister of Water Resources, Alhaji Suleiman Adamu, made this known on Monday, during a chat with newsmen on the sidelines of the ministry’s inaugural awards ceremony of the Rewards and Recognition System in Abuja. According to Adamu, the federal government’s role was to support state governments, which he said have the lion’s share of the responsibility for water supply. “What Nigerians need to understand is that the federal government is not responsible for providing water in their taps, that is the responsibility of state governments and that is why we don’t have a Federal Water Board. “All the incentives like P-WASH (Plan – Water, Sani...
LASHMA, Senator Tinubu Enrol 1,300 Elders on Ilera EKO Health Plan

LASHMA, Senator Tinubu Enrol 1,300 Elders on Ilera EKO Health Plan

Business, Economy
The Lagos State Health Management Agency (LASHMA), in partnership with the Senator representing Lagos Central Senatorial District, Senator Oluremi Tinubu, has enrolled 1,300 elders on ILERA EKO Health plan. The General Manager, Lagos State Health Management Agency (LASHMA), Dr. Emmanuella Zamba, speaking at the 31st Town Hall Meeting and 10th Edition of the Elderly Citizens’ Assistance Scheme of Lagos Central Senatorial District held at Lagos Mainland Local Government Area, commended Senator Oluremi Tinubu, for her dedication towards ensuring that residents, including youths, women and elderly in her constituency, live a healthy life. Dr. Zamba said that Senator Oluremi Tinubu at every point in time, aside from providing grants to the beneficiaries of her various empowerment program...