Investment

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Business Planning Entertainment Investment

CNN to lay off hundreds of employees as post-inauguration transformation begins

Beijing, Jan. 23, 32025 – CNN plans to lay off hundreds of employees Thursday as it refocuses the business around a global digital audience, according to people familiar with the matter. The layoffs come as CNN is rearranging its linear TV lineup and building out digital subscription products. The cuts will help CNN lower production costs and consolidate teams, said the people, who spoke on the condition of anonymity to discuss nonpublic changes. Certain shows that are produced in New York or Washington may move to Atlanta, where production can …

Business Planning Investment Manufacturing/Industry

Germany’s economic minister warns Europe against overtly relying on US

Berlin, Jan. 21, 2025 – Robert Habeck, Germany’s Economy Minister on Tuesday warned Europe against becoming overly reliant on US energy and urged the region to stick together in response to the new Donald Trump administration. Europe should “meet the Trump administration with an outstretched hand, but not have our hand cut off,” he said Tuesday at the Handelsblatt energy summit in Berlin, responding to the climate and energy directives Trump launched hours after taking office. The European Union should define its own interests, said Habeck, who is the Green Party’s lead candidate for …

Investment Money market

BoI signs $50m loan portfolio guarantee agreement with African Guarantee Fund

Abuja, Jan. 20, 2025 – The Bank of Industry (BoI) has signed a $50 million loan portfolio guarantee agreement with the African Guarantee Fund (AGF) to provide funding for MSMEs and women-owned businesses in Nigeria. Dr Olasupo Olusi, the Managing Director of the BoI, said this in a statement on Monday. He said the loan agreement was signed in recognition of the critical nature of Credit Guarantee Instruments (CGIs) in fulfilling BoI’s its mandate. Olusi stressed the need for the establishment of a CGI in Nigeria, especially now that the …

Investment Money market

Credit Guarantee Instruments: A path to financial inclusion and economic growth for Nigeria

By Dr Olasupo Olusi, Managing Director, Bank of Industry Introduction In Nigeria’s bustling markets and commercial districts, millions of business owners share a common struggle: accessing tailored financing needed to scale-up their operations. A furniture maker in Benin City, Edo State, requires capital to purchase modern equipment but lacks the type of collateral acceptable to financial institutions. In Aba, Abia State, a garment producer with booming demand struggles to expand her operations due to high-interest rates on loans. In Jos, Plateau State, a vegetable farmer needs credit to invest in …

Business Planning Investment

Nigeria’s $7.6bn fresh investment commitment, a sign of buoyant 2025 – TMSG

Abuja, Jan. 15, 2025 – The Tinubu Media Support Group (TMSG) has described the $7.6 billion fresh investment commitment for Nigeria announced by the Africa Development Bank (AfDB) as a sign of a buoyant 2025 for Nigerians. In a statement signed by its Chairman Emeka Nwankpa and Secretary Dapo Okubanjo, the group said the latest Foreign Direct investments (FDIs) interest which were unveiled at the Africa Investment Forum 2024 signify a solid affirmation that Nigeria remains one of Africa’s most attractive investment destinations. The TMSG said: ” It is only …

Investment Manufacturing/Industry

Trump’s tariff threat spurs auto suppliers to rethink production plans

Las Vegas, Jan. 9, 2025 – Global auto suppliers are working out how much of their production can be moved to the United States, or closer to it, as a defense against tariffs promised by President-elect Donald Trump, according to industry executives at CES in Las Vegas. The auto industry has already experienced eight years of U.S. protectionism, from real and threatened tariffs during Trump’s first term and then more tariffs and the U.S. Inflation Reduction Act under President Joe Biden. Most of those measures were aimed squarely at China, in …

ICT Investment

Tariff Hike: Airtel Chief Executive calls understanding of telecom stakeholders

Lagos, Jan. 7, 2025 – Dinesh Balsingh, the Chief Executive of Airtel Nigeria, has called for the understanding of the telecom stakeholders on the proposed tariff hike by operators. He said the proposed tariff hike by the operators was not for selfish interests of operators, but to ensure the long-term sustainability of the sector. Balsingh, who made the call in a statement in Lagos, said the proposed tariff adjustment would also unlock significant benefits for Nigerian consumers. He promised that the proposed tariff adjustments would be implemented in phases and …

Business Planning Investment

Nissan, Honda plan to merge, creating world’s No. 3 automaker

Tokyo, Dec. 23, 2024 – Japanese automakers Honda and Nissan have announced plans to work toward a merger, forming the world’s third-largest automaker by sales as the industry undergoes dramatic changes in its transition away from fossil fuels. The two companies said they had signed a memorandum of understanding on Monday and that smaller Nissan alliance member Mitsubishi Motors also had agreed to join the talks on integrating their businesses. Honda’s president, Toshihiro Mibe, said Honda and Nissan will pursue unifying their operations under a joint holding company. Honda will …

Investment Money market

Diaspora Remittances: Sanwo-Olu, Dabiri- Erewa express delight at the increase

Abuja, Dec. 21, 2024 – Babajide Sanwo-Olu, the Lagos State Governor, and Hon. Abike Dabiri-Erewa, Chairman/CEO, Nigerians in Diaspora Commission (NIDCOM), have expressed delight at the increasing home remittances by Nigerians abroad. The commendations came after the reports of the diaspora remittances by the Central Bank of Nigeria (CBN) which reported the increase from $336.61 million in September 2024 to $402.38 million in October 2024. They expressed the delight at the ConnectEDiaspora Fireside Chat 2024 in collaboration with Nigerians in Diaspora Commission (NIDCOM’s) Homestrings Programme in Lagos. Sanwo-Olu, the Special Guest of …

Foreign Investment

Diaspora Engagement: California seeks investments, partnerships in Africa as delegation visits NiDCOM

Abuja, Dec. 17, 2024 – Hon. Abike Dabiri-Erewa, Chairman/CEO of Nigerians in Diaspora Commission (NiDCOM), has advised foreign investors to focus on capacity building to support growing economies like Nigeria. The NiDCOM Chairman gave the advice in Abuja during a strategic meeting with Dr Toks Omishakin, the Secretary of California State Transportation Agency (CalSTA). She emphasised the importance of knowledge transfer and skill development in driving economic growth.  The NiDCOM boss stressed the need for training programmes to equip Nigerians with the technical know-how necessary to improve efficiency and productivity …