FINCA Deepens Financial Inclusion in Tanzania via FinTech

Sterling Bank Limited’s cutting-edge investment platform, Doubble, has been upgraded with new features aimed at improving investment returns for existing and new customers. With various flexible naira and dollar investment options, including money market offerings with returns higher than your bank’s returns on savings. The digital savings and investment platform provides a seamless avenue for individuals to build wealth. Users are provided with a guaranteed income stream and fixed growth over a set period, as well as a hedge against market volatility, the ability to secure loans against account balances, and the convenience of transferring the annuity to a spouse

By Modupe Gbadeyanka A business grant of N10 million has been given to 30 members of the National Youth Service Corps (NYSC), who partook in the entrepreneurship development initiative of Unity Bank Plc known as the Corpreneurship Challenge. The young entrepreneurs received funding support for developing innovative solutions in several business value chains like honey production, rice, and snail farming, among others. The beneficiaries pitched their business ideas to judges selected for the competition across 10 state NYSC Orientation Camps; Katsina, Kano, Kwara, Imo, Rivers, Delta, Sokoto, Edo, Akwa-Ibom, and Osun States. At the NYSC Orientation camp at Ikot Itie

By Adedapo Adesanya President Bola Tinubu has thrown his full weight behind the plan by the Central Bank of Nigeria (CBN) to increase the capital base of banks in the country. The President expressed his views on this move, which last occurred in 2005, through his Special Adviser on Information and Strategy, Mr Bayo Onanuga, in his message at the 40th anniversary of The Guardian Newspapers in Lagos on Tuesday. He said bank recapitalisation was crucial to Nigeria achieving a $1 trillion economy. “Amidst the general lull in a global economy, our ambition to attain a $1 trillion economy appears

By Modupe Gbadeyanka Access Bank Plc has expressed its determination to support initiatives that promote knowledge, integrity, and the enduring legacy of excellence in the legal profession. The chief executive of Access Holdings, the parent firm of the lender, Mr Herbert Wigwe, while speaking at the launch of a book to honour Justice Amina Adamu Augie on Tuesday, November 28, 2023, said the financial institution has a strong affinity for the preservation and advancement of country’s judicial heritage. “We are proud to support the launch of Wisdom and Integrity: The Legacy of Honourable Justice Amina Adamu Augie JSC CON Through

By Modupe Gbadeyanka A leading microfinance bank supporting small businesses, Advans La Fayette Microfinance Bank Limited, has introduced education loans aimed to provide funding support to school owners and parents. A statement from the small lending institution said the education loan products created for its customers are the Advans School Boost, Advans Eduloan and Advans Kiddies. It was explained that the Advans School Boost is a product designed to provide working and investment capital for school owners, Advans Eduloan is to assist parents to pay their children’s school fees with ease, while the Advans Kiddies is high-yield savings account to

By Adedapo Adesanya  Oil prices fell more than 3 percent on Tuesday as US President Donald Trump stirred up fears that trade tensions between China and the United States were far from settled amid ongoing negotiations, which is a pointer for oil demand growth. Following his speech at the 74th United Nations General Assembly (UNGA), Brent crude futures fell and as the time of this report, it was trading down by $2.16 or 3.39 percent to $61.57 per barrel. The US West Texas Intermediate (WTI) Crude was also down, but in its case by $1.79 at 3.05 percent, at $56.85

By Dipo Olowookere Public Relations Officer of the Lagos Police Command, ASP Olarinde Famous-Cole, has made public the telephone number of the new Lagos Police Commissioner, Mr Edgal Imohimi, for the purpose of distress and emergencies. Mr Imohimi was Deputy Commissioner of Police in-charge of Operations until last week when he replaced CP Fatai Owoseni as the Lagos State Commissioner of Police. Mr Famous-Cole while he released the CP’s number, 08099990483, also encouraged the public to explore other nearest avenues of reporting incidents or situations in chain of command such as DPOs, Area Commanders, RRS (767 & 112) at any

By Dipo Olowookere The Central Bank of Nigeria (CBN) offered treasury bills to investors at attractive rates at the primary market auction (PMA) on Wednesday as the government intends to use the avenue to borrow more money from the local debt market. The stop rates were increased by the apex bank across the three maturities offered for sale during the session, with the shortest end of the curve witnessing the highest jump. According to an analysis of the sales, the 91-day bill cleared at 3.50 per cent, 0.70 per cent higher than the previous session’s stop rate of 2.80 per

By Adedapo Adesanya President Bola Tinubu has announced the reappointment of Mr Mele Kolo Kyari as the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited. This move comes as part of a larger reshuffle, where President Tinubu has unveiled a new board and management team for the NNPC Limited which will commence their duties from December 1, 2023. Mr Kyari’s reappointment comes after recent calls to have him sacked. Having spent four years under the immediate past administration of Mr Muhammadu, the renewed appointment shows the current government has confidence in his ability to steer the

By United Capital Research Every business/industry is expected to go through four stages of development, from the first product entry to its eventual decline (Start-up, Growth, Maturity and Decline stages). Each stage has its own unique characteristic. The Nigerian ecommerce industry is currently perceived to be at the growth stage, having seen a number of investments in the space in the past. However, the Nigerian online retailing business, though filled with potential, continues to struggle to break-even. Recent data from the Nigerian Communication Commission (NCC) showed a 9.8%y/y rise in GSM internet subscription to 100.2mn as at Jan-18. Yet, the

By Dipo Olowookere A strategic partnership has been entered into by NollywoodWeek Film Festival and REDTV, a platform owned by the United Bank for Africa (UBA). This comes ahead of the 5th edition of the festival, which begins today, Thursday, May 11, 2017 and ends on May 14, 2017 in Paris, France. As this partnership grows, REDTV is expected to join the ranks of other major strategic partners of NollyWood Week such as Total, Air France and Angenieux who have supported the festival for several years now. As a direct consequence of this partnership, the Parisian audience will have an