African e-commerce and logistics company, Jumia, which launched operation in Lagos eight years ago has, no doubt, had an eventful past while structuring its business and...
11 Plc, formerly Mobil Oil Nigeria Plc, has declared an after-tax profit of N8.856 billion for Full Year 2019, a 5.1% or N473.219 million drop from...
Nigeria lost $408.28 million (about N148.002 billion) in capital flight arising from plunge in Foreign Direct Investment (FDI) between June and September 2019 owing to insecurity...
UACN Property Development Company PLC has reported a total loss of N16.257 billion for Full Year 2019, making it the fourth year in a row the...
Nigeria’s debt to the World Bank soared from $8.51 billion (about N3.085 trillion) as of September 2018 to $9.81 billion (over N3.556 trillion) as at September...
Stanbic IBTC Holdings Plc has declared an after-tax profit of N75.035 billion for Full Year 2019, compared to the N74.440 billion recorded in the same period...
National Salt Company of Nigeria (NASCON), a member of the Dangote Group of companies, has declared a 56% plunge in its after-tax profit for Full-Year 2019...
Kenyan logistics startup, Sendy, has announced raising the sum of $20M in Series B Funding round led by foreign investors, Atlantica Ventures and Toyota Tsusho Corporation....
The Nigerian Stock Exchange (NSE) continued its bearish run today as the Key Performance Indicators recorded decline. A negative market breadth was recorded as 10 gainers...
American multinational technology company, Google, on Tuesday, January 28, launched a developer hub in Lagos for African tech entrepreneurs. Similar to the Facebook Hub that launched...
Chemical and Allied Products (CAP) Plc, a subsidiary of UACN Plc, has reported a 12% fall in its profit for Full Year 2019 compared to the...
Union Bank of Nigeria Plc has announced a planned divestment of its United Kingdom subsidiary and committing the proceeds to leveraging “growth opportunities in Nigeria” while...
Airport and aviation service provider, Skyway Aviation Handling Company (SAHCO) has posted an after-tax profit of N530.172 million for Full Year 2019, a clear departure from...
Oil and gas exploration and production powerhouse, Total Nigeria Plc, has declared a 70% plunge in its Full Year 2019 after-tax profit compared to the corresponding...
Profit-taking in bellwether stocks caused the Nigerian Stock Exchange to close in the negative territory today with all the Key Performance Indicators (KPI) ending in the...
Kenya’s ecommerce platform, Africasokoni, has taken another step towards the fulfilment of its vision as it thrusts its foot into Africa’s largest economy, Nigeria. The B2C...
On Monday, January 27, the Lagos State government, through the office of the Senior Special Assistant to the Governor on New Media, announced its intention to...
Leading courier and packaging company, Red Star Express Plc, has recorded a 19% plunge in its after-tax profit for Q3 ended 31st December, 2019 relative to the...
Airtel Africa has posted a negative growth of $30 million (about N10.875 billion) or 22.6% in its after-tax profit for the 3rd quarter ended 31st December, 2019 year-on-year...
Indications emerged on Monday that Organisation of Petroleum Exporting Company (OPEC) and its allies might extend its current production cuts or even deepen them to buffer...
Popular on-demand video streaming platform, Netflix, has made provision for its video consumers in Kenya to make service payments in local currency. This development was reached...
Construction giant, Julius Berger Nigeria Plc, has declared a 70% growth in its after-tax profit for Full Year 2020. This and other details of the firm’s...
The Nigerian bourse began the week on a losing note today as profit-taking and recently released company results impacted stock prices and overall market performance conspicuously....
Bolt, formerly Taxify, that first launched its cab-hailing venture in Nigeria in 2016, is taking a new offering (tricycle services) to the people of Uyo with...
Last week, the Nigeria Stock Exchange (NSE) witnessed three days of bullish reign and two bearish days on Wednesday and Thursday. The market rallied on Friday,...
Bus service company, ABC Transport Plc, has posted a total comprehensive income of N211.411 million at Q4 2019, compared to a total loss of N147.077 million...
Foam manufacturing giant, Vitafoam Nigeria has announced a 127% rise in its after-tax profit for Q4 2019. This and other details of Vitafoam’s financials are published...
Oil prices are feeling the coronavirus effect as the global commodity recorded its worst show in the international market in the just concluded week on the...
Hello, and welcome to Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market, mainstream business activities while not...
Just like last week, the Nigerian bourse recorded two straight bearish sessions this week as investors moved to recoup their investments on Tuesday and Wednesday. There...
The Central Bank of Nigeria (CBN) Friday sent a cautionary note to the Federal Government in respect of the rising debt profile of the country. Godwin...
The banking sector gross credit increased by N2.7trillion in seven months, the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, said on Friday. Emefiele,...
The Nigerian bourse ended the week on a bullish note on Friday with slight improvement recorded across the major performance parameters. However, a negative market breadth...
The Central Bank of Nigeria (CBN) this afternoon, in the wake of its Monetary Policy Committee (MPC) meeting, retained the Monetary Policy Rate (MPR) at 13.5%....
More Nigerian-owned companies, especially those operating in the tech space, have been recording significant growth as they increasingly acquire other startups, fund multimillion projects, or simply...
The Central Bank of Nigeria (CBN) has announced the appointment and redeployment of some Directors. The apex bank in a statement on Thursday, said Mr. Yusuf...
Consumer goods company, Unilever Nigeria Plc, has declared a N4.224 billion loss for the year ended 31st December 2019. This and other details of its financials are...
The Nigerian Stock Exchange (NSE) recovered from two consecutive days of loss on Thursday with its Key Performance indicators recording notable improvement. However, the market breadth...
Recently, the rivalry between 6 years old Telegram and the Mark Zuckerberg-owned Whatsapp has become intense. The heat of this competition has remarkably been instrumental to...
Cement manufacturing giant, Dangote Cement Plc, Wednesday obtained the endorsement of its shareholders to launch a share buyback programme that will see the company shrink its...
Boston-based BFA Global through it startup accelerator initiative, Catalyst Fund, has listed Nigeria’s Cowrywise as one of the startups making up its new cohort. The new...
The Buhari Media Organisation (BMO) on Wednesday faulted the forecasts by the World Bank and the International Monetary Organisation (IMF) on Nigeria’s 2020 economic growth, which...
Profit-taking in some blue-chip equities caused the Nigerian Stock Exchange (NSE) to close in the negative territory as the market shed N2 billion on Wednesday. The...
Infinity Trust Mortgage Bank Plc has announced a 28% upsurge in its after-tax profit for the Full Year 2019. This, together with other details of its...
Opera, in a prelude post on Tuesday, January 22, hinted the public on a new offering in the pipeline -a phone in the making to be...
Oil and gas exploration firm, Lekoil Limited, has announced that it has entered into an agreement with Optimum Petroleum Development Company, operator of Oil Prospecting Licence...
Payment startup, Flutterwave, has secured a $35 million funding round as it looks to expand its coast across the continent. The funding, which comes along with...
Profit-taking in bellwether bank and industrial goods stocks caused the Nigerian Stock Exchange to close in the negative territory on Tuesday with all the Key Performance...
Transactions estimated to be well over N108.427 trillion were consummated across the instant payment and the Point of Sales (POS) platforms in the country in 2019,...
The World Bank has forecasted that the next three years will prove gloomy for Nigeria as growth in the real Gross Domestic Product (GDP) will stall...
