Banking
Ringier Africa, Partners Expand e-Commerce Activities
By Dipo Olowookere
Ringier Africa Digital Publishing’s Pulse expands to East Africa with P Live & boosts partnership schemes for content & promotions. Ringier Africa Deals Group’s DealDey & sister sites expand scope in Nigeria.
Monday 23 January 2017 marks the launch of P Live (www.PLive.co.ke) in East Africa as an extension of the leading new media publisher Pulse and its P Live concept from West Africa – already reaching over 50 million users on a monthly basis.
With headquarters in Nairobi, Kenya, P Live will be a brand new independent, nonpartisan news & entertainment publisher for the region, partnering with leading local and international publishers to bring the East African region up-to-the-minute, 24/7 live content – from breaking local and internationally acclaimed news to varied entertainment programs.
Pulse/P Live has seen notable international expansion and in December 2016, Pulse announced the launch of the Men’s & Women’s Health titles for West Africa in the fitness sector. In January 2017, the company has already announced the launch of Business Insider for Sub Saharan Africa, bringing the internationally renowned business title to Sub Saharan Africa. Additionally, Pulse already brings its users news content in partnership with the New York Times and Agence France-Press as well as live sports results with Sportradar. Alongside Pulse’s in-house content production, the publisher therefore acts as a platform of highly curated content.
Doing so on a local and regional level, Pulse/P Live has also closed on a content partnership with entertainment blog Ghafla, which it last year completed a partnership with – to aggregate top East African entertainment content. Ghafla will be integral to the provision of local Kenyan and East African entertainment content to a wide audience on P Live.
As part of its pan-African expansion, Pulse/P Live today also launches P Promos, focusing on providing merchants of all sizes, e-commerce or otherwise, even more affordable ways to advertise their goods and services to a wide-reaching audience of millions, online.
In Ghana and Kenya, Ringier Africa Digital Publishing (RADP)’s sister company, Ringier Africa Deals Group (RADG)’s discount ecommerce platforms Tisu and Rupu will merge with P Promos respectively, and will therewith move beyond early-stage e-commerce to offer merchants new ways of reaching a large customer base, under the P Promos brand.
Tim Kollmann, Managing Director of Ringier Africa Digital Publishing: “Pulse is an independent, trusted and admired new media publisher in Nigeria and Ghana, run by respected local media leaders. With P Live, we are now proud to be expanding these values to Kenya and the wider East African region, relying on international and local partners we collaborate with and are introducing to a large audience in the region. The continued expansion of our publishing activities reflects the growing market for smart, insightful and quality journalism and content in Africa.”
The Ringier Africa Deals Group (RADG), Ringier Africa and Silvertree Internet Holdings’ e-commerce JV, will focus completely on Africa’s largest internet market, Nigeria and its internationally recognised and trusted brands DealDey (products & services) (www.DealDey.com); Promohub (product & service promotions) (www.Promohub.ng) and Lyf (product & services directory).
Going forward, the group will focus on the thriving African e-commerce market, bringing not only products but also service verticals to customers, online, through its brands. Already a leader in spa & beauty, ticketing, city services, restaurants and varied flash sales, RADG will invest substantially to build out more functionalities for merchants and customers alike in these areas.
Paul Cook, CEO of Ringier Africa Deals Group (RADG) & Partner of Silvertree Internet Holdings, JV partner of RADG: “We are fully focusing on the Nigerian e-commerce market – investing in product and service expansion. We define deals as everything that brings good value to our customers and merchants and will not stop to expand until every Nigerian online can enjoy services from DealDey, PromoHub and Lyf, while discovering new merchants and experiences”.
Apart from Ringier Africa Digital Publishing (RADP) and the Ringier Africa Deals Group (RADG), Ringier Africa runs Ringier Digital Marketing (RDM), its pan-African complete digital partner and is setting up Ringier One Africa Media (ROAM), Africa’s leading classifieds group.
By Adedapo Adesanya
The Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, says Nigeria anticipates remittances from citizens living abroad to increase by two-thirds in 2026 as it seeks to bolster its foreign-exchange reserves to $1 billion monthly.
“We are expecting that by the end of the year, we will hit about a billion Dollars a month from diaspora remittances,” he said at the 14th Annual BusinessDay CEO Forum in Lagos on Thursday, themed From Stability to Shared Prosperity.
Mr Cardoso said remittances are expected to be boosted from more than $600 million currently, banking on the CBN’s deliberate target at remittances to diversify reserve sources beyond oil earnings.
According to him, the apex bank engaged Nigerians abroad, banks and international partners to identify barriers to official remittance flows.
He said the lender subsequently reviewed policies to ensure easier movement of funds into and out of the country.
Mr Cardoso described the approach as providing free entry and free exit for foreign exchange.
He said the reforms helped double diaspora inflows within one year and exceeded initial expectations, also projecting annual remittances could reach about $8 billion if the current momentum was sustained, adding that the development reflected growing confidence in Nigeria’s financial system and foreign exchange market.
Mr Cardoso said reforms introduced by the apex bank had restored stability in the foreign exchange market and improved investors’ confidence.
He identified exchange rate unification as one of the central bank’s major achievements under the reforms programme.
According to him, replacing multiple exchange rate windows with a market-driven system eliminated distortions and improved transparency.
Mr Cardoso said improved foreign exchange liquidity and stronger reserves were among the gains from the reforms.
He said Nigeria’s net external reserves had risen from about $3 billion at the start of the reforms to above $40 billion currently, noting that gross external reserves had grown to about $52 billion, representing about 10 months of import cover.
According to him, the reserves are designed to shield the economy from external shocks and excessive market volatility.
He said the reserves were not meant for routine interventions or day-to-day exchange rate management.
By Modupe Gbadeyanka
The flagship banking subsidiary of Guaranty Trust Holding Company (GTCO) Plc, Guaranty Trust Bank (GTBank) Limited, has been announced as the winner of Nigeria’s Best Digital Bank award at the Euromoney Awards for Excellence 2026.
The lender clinched this accolade at the Euromoney Awards for Excellence 2026 ceremony, held on July 17, 2026, at The Peninsula London, England, for its outstanding performance, innovation, customer service, and leadership.
GTBank’s recognition as Nigeria’s Best Digital Bank reflects its continued leadership in digital innovation and its commitment to delivering seamless, secure, and customer-centric financial solutions.
As the banking franchise of GTCO, GTBank has consistently set industry benchmarks in digital transformation, pioneering solutions that have redefined how individuals and businesses access, manage, and experience financial services.
Over the years, GTBank has transformed the banking experience through a suite of innovative digital platforms, including the GTWORLD mobile app and solutions that provide millions of customers with seamless, secure, and convenient access to financial services.
The bank continues to strengthen its digital capabilities by introducing products and services that meet evolving customer needs while maintaining the highest standards of security, reliability, and service excellence.
This latest recognition underscores the company’s position as a market leader and reflects its sustained investment in technology, operational excellence, and innovation.
“This recognition is a testament to the legacy upon which GTBank was built and the vision that continues to guide us today.
“From inception, our goal has been to deliver on the Group’s vision to make end-to-end financial services accessible to everyone by leveraging technology to remove barriers, simplify experiences, and create meaningful value for our customers,” the chief executive of GTBank, Mrs Miriam Olusanya, stated.
“While we are honoured by this recognition, we see it as an acknowledgement of what we have achieved and a motivation to do even more.
“We remain focused on raising the bar for digital banking, investing in innovative solutions, and delivering exceptional experiences that create lasting value for our customers.
“As the financial services landscape continues to evolve, we will continue to innovate, adapt, and lead with the same commitment to excellence that has defined our franchise for decades,” she added.
The Euromoney Awards for Excellence 2026 convened leading financial institutions, industry executives, and policymakers from across the globe to celebrate excellence, innovation, and leadership in the financial services sector.
By Aduragbemi Omiyale
A collaboration to enable fast money transfers into Nigeria has been entered into between Flutterwave and Xoom, PayPal’s international digital money transfer service.
The partnership allows Xoom transfers to be converted by Flutterwave and settled locally in Naira, enabling quick transfers directly into recipients’ bank accounts at Access Bank, UBA, Zenith Bank, First Bank, GTBank, and additional participating banks across Nigeria.
The deal also enables Xoom’s global network with Flutterwave’s local payout infrastructure, allowing users globally to send funds directly into Nigerian bank accounts with improved speed and efficiency.
Nigeria is the leading remittance recipient in Sub-Saharan Africa, receiving over $20 billion in personal remittances in 2024. Despite this volume, receiving international payments has historically remained complex due to FX constraints and settlement delays. This collaboration helps address those challenges in a market of more than 232 million people, where the ICT sector is projected to contribute 21 per cent of GDP by 2027.
By combining Xoom’s expansive reach with Flutterwave’s local compliance and banking partnerships, the two companies are providing a more accessible financial corridor for the continent.
Xoom, a PayPal service, is a fast and secure international digital money transfer service that enables consumers to send money, pay bills, and reload phones for friends and family in approximately 160 markets globally.
As part of PayPal’s global payments ecosystem, Xoom leverages advanced fraud protection, compliance capabilities, and a trusted global network to help millions of customers move money quickly and securely across borders.
“We’re excited to have been chosen by Xoom for their Nigeria expansion. Millions of Nigerians rely on money from abroad to support everyday needs, whether it’s families receiving help from loved ones, freelancers getting paid for their work, or individuals earning income from the global economy. This helps make it easy and more reliable for people in Nigeria to receive funds and stay connected to opportunities beyond borders,” the chief executive of Flutterwave, Mr Olugbenga GB Agboola, stated.
