Uncategorized Archives - Inside Business Africa

Sep162022 by info@insidebusinessafricang.comNo Comments

NGX Group releases dividend policy

Business, Capital Market, Corporate Stories, Uncategorized

Nigerian Exchange Group (NGX Group) Plc has stated that it will continue to ensure that its shareholders received mouthwatering returns on their investments even as it released its dividend policy. The policy document which was approved by the board of directors of NGX Group Plc and published on the company’s website was formulated in accordance with the Laws of the Federal Republic of Nigeria, investment and tax legislations, Codes of Corporate Governance, as well as internationally recognized best practices and principles. Nigerian Exchange Group House “NGX Group, through its Dividend Policy, seeks to guarantee shareholder rights especially as it relates to return on investment. The policy is developed to address issues relating to the determination and payment of dividen...

Jul92022 by info@insidebusinessafricang.comNo Comments

OUR PERFORMANCE WOULD BE RESULT ORIENTED – UMANA UMANA

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The newly appointed Minister of Niger Delta Affairs (MNDA), Obong Umana Umana has indicated his resolve to be result oriented and impactful within the short time he would be spending in the Ministry. The Hon. Minister made this assertion at the reception ceremony held on his behalf in the Ministry in Abuja, on the 6th July, 2022. The newly appointed Minister of Niger Delta Affairs, Obong Umana Okon Umana at the reception ceremony in the MNDA. According to him, “Though the time is short, we can hit the ground running by making the necessary impact, we’ll be driven by results”. While stating that it is time to work to achieve the Ministry’s target in line with its mandate, he requested the staff to be at their best to ensure that a remarkable difference is made in the lives of N...

Feb252022 by info@insidebusinessafricang.comNo Comments

LASG COLLABORATES WITH FEDERAL AGENCY ON FLOODING, HYDROLOGICAL MAPPING

Breaking News, Uncategorized

The Lagos State Government, in its efforts to combat incessant flooding, has collaborated with the Nigeria Hydrological Services Agency (NIHSA) on baseline data collection and study of flood-prone areas. Commissioner for the Environment and Water Resources, Mr. Tunji Bello, who spoke on Thursday at a stakeholders’ meeting held in Ikeja, said the present administration is committed to using data to improve the lot of residents. He said that the meeting was significant as it addressed the major challenge of the data gap in the water resources sector, reiterating that data remains vital to efficient planning and service delivery. Bello, represented by the Permanent Secretary, Office of Drainage Services, Engr. Lekan Shodeinde, commended NIHSA for the proactive and innovative approac...

Feb212022 by info@insidebusinessafricang.comNo Comments

50, 000 NIGERIAN YOUTHS GET EQUITIES FROM STERLING BANK

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Sterling Bank Plc unwrapped a parcel of investment opportunities for 50,000 Nigerian youths during the Valentine season. These opportunities are in 14 blue-chip organizations listed on the Nigerian Exchange Group. The Chief Marketing Officer (CMO) of Sterling Bank, Ibidapo Martins revealed in an official statement that these presents are equities from top-performing organizations. These are in the telecommunications, financial services, manufacturing, consumer-packaged goods and pharmaceutical sectors of the Nigerian economy. “These equities have been curated with careful thought based on the equities’ proven records of outperforming the market and delivering value to shareholders, regardless of economic conditions over the years,” he said. Other equities in the parcel inc...

Feb182022 by info@insidebusinessafricang.comNo Comments

NIGERIA’S RAPIDLY CONTRACTING ECONOMY RECORDS HIGHEST ‘GROWTH’ SINCE 2014

Breaking News, Uncategorized

Nigeria’s rapidly contracting economy records the highest ever growth of 3.4%--the highest since 2014. National Bureau of Statistics GDP report released on Thursday indicated this figure. On one hand, the Nigerian economy weakened in Q4 2021. It fell from the 4.03% recorded in Q3 2021 to 3.98% in Q4. Additionally, it fell from 5.01% in Q2 to 4.03% in Q3. On the other hand, the nation’s annual GDP contracted by -1.92% in 2020. However, the most recent NBS report states that, “Nigeria’s Gross Domestic Product (GDP) grew by 3.98% (year-on-year) in real terms in the fourth quarter of 2021, showing a sustained positive growth for the fifth quarter since the recession witnessed in 2020 when output contracted by 6.10% and -3.62% in Q2 and Q3 of 2020 under the COVID-19 pande...

Feb162022 by info@insidebusinessafricang.comNo Comments

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...

Feb162022 by info@insidebusinessafricang.comNo Comments

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...

Feb162022 by info@insidebusinessafricang.comNo Comments

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) ...

Jan22022 by Joshua OlotuNo Comments

MOUKA SUSTAINS PARTNERSHIP WITH LAGOS, CELEBRATES FIRST BABIES OF THE YEAR ACROSS NIGERIA

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MOUKA SUSTAINS PARTNERSHIP WITH LAGOS, CELEBRATES FIRST BABIES OF THE YEAR ACROSS NIGERIAR-L: Wife of the Lagos state governor, Dr(Mrs) Claudiana Ibijoke Sanwo-Olu, Lagos state commissioner for Health, Dr Akin Abayomi, MD/CEO Harvey Health Centre and Maternity, Dr Yetunde Sotunde and Brand Manager Mouka Yemisi Obadina ….during the presentation of gifts items to the first Baby of the year 2022. Mouka, Nigeria’s foremost manufacturer of mattresses, pillows and other bedding products, has restated its commitment to adding comfort to the lives of Nigerians of all ages, including newborns. One of the initiatives to bring this corporate mission to reality is through the First Baby of The Year Program.Mouka has continued to run this program consistently in partnership with the Lagos gover...

Dec112021 by Joshua OlotuNo Comments

LASHMA Extends ‘ILERA EKO’ Grassroots Sensitisation CAMPAIGN To Kosofe

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… As Royal Father Commends Governor Sanwo-Olu on Health Plan The Lagos State Health Management Agency (LASHMA) has extended its ‘ILERA EKO’ grassroots sensitisation advocacy to Kosofe Local Government and environs in a bid to ensure that many residents, particularly at the grassroots, benefit from the health insurance scheme initiated by the Governor Babajide Sanwo-Olu led administration. Speaking at the event held at the Secretariat, the General Manager of LASHMA, Dr. Emmanuella Zamba, said ILERA EKO is a very beneficial scheme and an avenue to reduce pocket payment of medical bills and unforeseen catastrophy. She urged residents of Kosofe Local Government to support ILERA EKO and take full advantage of the health plan, adding that residents can enrol on th...