Business Solutions

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30 Nigerian startups to receive training on new digital skills

Lagos, Nov.  22, 2024 – The evolution of the Nigerian digital economy is to receive a boost with the training of 30 Nigerian startups on new digital skills. They are to be trained on new digital skills, mentorship, and resources needed to build scalable, sustainable tech ventures The training is being organised by Beyond Limits, an international organisation driving digital innovation, leadership transformation, and business growth. The training will be done in partnership with the U.S. Consulate General in Lagos, Nigeria, in the Beyond Limits Fellowship for Founders Cohort 3.0. …

Angel investors commit $350,000 to creative entrepreneurs at Afreximbank’s CANEX pitch session

Algiers, Oct. 26, 2024 – The African Export – Import Bank’s (Afreximbank) Angel investors participating in a pitch session at the just-concluded CANEX WKND 2024 in Algiers have committed a total of US$350,000 in investment into the three best pitches presented at the competition. The pitch session, dubbed “CANEX Presents the Angels”, featured 12 creative entrepreneurs from 10 African countries who were selected to present their businesses for review with a view to raising capital for growth and expansion. Moji Hunponu-Wusu, the Founder of Woodhall Capital, made the leading commitment of …

Boeing’s endless doom loop gives no respite to CEO Ortberg

Seatle, Oct. 14, 2024 – As Boeing Co. lurches from one crisis to the next, there’s been one constant for the embattled planemaker: Its predicament appears to be only getting worse. From a freak accident that blew a door-size hole into the fuselage of an airborne 737 Max to revelations of sloppy workmanship and now a crippling strike entering its second month, the icon of US manufacturing been beset by trouble since the first days of January. Cash is dwindling, plane production is anemic and the stock is heading for …

Dealers frustrated BUA from selling cement at 3,500 per bag – chairman

Abuja, Aug. 30, 2024 – Alhaji AbdulSamad  Rabiu, the Chairman of BUA Group, says cement dealers frustrated efforts of the company to sell cement at N3, 500, per bag. Rabiu said this at the 8th Annual General Meeting of the company on Thursday. He said the while the company was willing to sell at N3,500 per bag, dealers were not willing to pass the price reduction to end users, but were selling a bag at between N7000 and N8,000. The company chairman said his company has already sold over a …

Nigeria can achieve higher GDP with stronger reforms – IMF

Lagos, Aug. 28, 2024 – The International Monetary Fund (IMF) says Nigerian can achieve its projected 3.1% economic growth outlook for 2024 if it implements stronger reforms. Dr Christian Ebeke, the IMF Resident Representative in Nigeria, said this in Lagos at the Lagos Chamber of Commerce and Industry (LCCI) International Business Conference and Expo 2024 with the theme: “Invest Nigeria”. . Ebeke said further reforms on governance and business regulations were needed for the country to grow slightly from the 2.9 per cent rate achieved in 2023,. He said that …

SERAP urges NASS to disclose monthly running costs, stop fixing own salaries

Abuja, Aug. 18, 2024 – Socio-Economic Rights and Accountability Project (SERAP) has urged the management of the National Assembly to disclose the exact monthly running costs being paid to members of the National Assembly. It advised the Senate President, Godswill Akpabio, and the Speaker of the House of Representatives, Tajudeen Abbas, to promptly end the alleged practice of the National Assembly fixing its own salaries, allowances and running costs, in conformity with the Nigerian Constitution 1999 [as amended], and the country’s international obligations. Kolawole Oluwadare, the SERAP Deputy director, made …

Afreximbank, Veenocks sign facility agreement for tiles plant in Nigeria

Cairo, Aug. 15, 2024 – African Export-Import Bank (Afreximbank) has signed a project preparation facility agreement with Veenocks Limited for the financing of the development of Veenocks’ porcelain tile manufacturing plant located in Sagamu, Ogun State, Nigeria. The plant, to be operated as an indigenously owned state-of-the-art facility with an annual production capacity of 6.6 million square metres of floor and wall tiles, is expected to bring on stream assets with an estimated investment cost of US$117 million. Mrs Kanayo Awani, the Executive Vice President, Intra-African Trade and Export Development Bank, …

CPPE advises Nigerian regulatory agencies to exercise powers with discretion

Lagos, Aug. 11, 2024 – The Centre for the Promotion of Private Enterprise (CPPE), a private sector think tank in Lagos, has appealed to regulatory agencies in the country to exercise their powers with more discretion. The centre gave the advice in a statement issued by its Chief Executive, Muda Yusuf, in Lagos on Sunday. The CPPE said it had observed a growing trend of irritations, distractions, and frustrations inflicted on manufacturing sector and investors in the country by the regulatory agencies. The CPPE said these overbearing regulatory dispositions often …

Heirs Insurance Group appoints Ibrahim Puri,  Sonny Iroche as independent non-executive directors

Lagos, Aug. 8, 2024 – Heirs Insurance Group (HIG), Nigeria’s fastest-growing insurance provider, has announced the appointment of Ibrahim Puri and Sonny Iroche as independent non-executive directors of its non-life insurance business, Heirs General. The appointments further strengthen HIG’s governance and leadership team.  HIG has enjoyed rapid growth since its launch in 2021 as consumers benefit from the group’s unique offering of digitally driven insurance products and customer-centric service proposition. Ibrahim Puri is an accomplished financial services leader with over 30 years of experience in banking, fintech, and FMCG industries.  …

Dangote regains title of Africa’s richest man

Lagos, Aug. 5, 2024 – Aliko Dangote has reclaimed the title of Africa’s richest man, just days after South African businessman Johann Rupert briefly overtook him. As of August 5th, 2024, according to Bloomberg’s billionaire real-time index, Dangote’s net worth stands at $13.7 billion, surpassing Rupert’s current net worth of $13.3 billion. He is six spots above the South African billionaire on the Bloomberg’s list. On August 2nd, 2024, Rupert had risen to the top of Africa’s wealthiest with a net worth of $13.6 billion, matching Dangote’s at the time. The …