Economy
Eden Life Obtains $1.4m for Home Services Expansion
By Adedapo Adesanya and Sodeinde Temidayo David
Nigerian startup that caters to home service needs, Eden Life, has completed a $1.4 million seed round to expand its business offerings.
This brings Eden Life’s total investment to date to $2 million following pre-seed backing from all of Andela’s original co-founders, and additional accelerator support over the last 18 months.
The new capital obtained by the company will be deployed to build Eden Life’s in-house technology and develop its own world-class kitchens and operations hubs, as it builds a new tech-based platform to improve and grow Africa’s service industry.
Launched in 2019, Eden Life was developed for busy Lagos professionals who are often time-poor due to long working hours and struggle to source and coordinate dependable, efficient, and trustworthy home services providers.
Currently, the average Eden Life user uses two services five times per week with first-time users typically starting off with food delivery, before picking up additional services.
Targeted at executives, remote workers, creatives, and tech engineers and developers, Eden Life is removing the barriers to finding reliable household services in the city and in doing so has quickly picked up 600+ customers and is growing a loyal following with a 92 per cent monthly retention rate and over 70 per cent of new users coming via referrals.
With this new fund injected into the business, it will ensure Eden can own and manage its entire supply chain and deliver its services without the need for third-party providers by having a physical footprint where chefs prepare meals, laundry can be processed quickly and cleaners receive training to provide a high-quality service.
Raising up to $600,000 in a family and friend pre-seed round, the company had previously employed a basic distribution model where it delivered food picked by customers from a wide range of third-party service providers.
Following this, the company implored a vertical integration in the food department as it launched its kitchen and now produces its meals, in a bid to improve the food experience for customers.
Speaking on the round, Mr Nadayar Enegesi, co-founder at Eden Life and Co-founder at Andela said, “For many of our users, if they’re cooking or running errands, they’re not being productive; they don’t want distractions from their work, which is where Eden Life comes in.
“While we can’t create more time physically, we are offering access to a platform that delivers a seamless mix of household services so that busy professionals can focus on their work and leisure.
“We’re excited to scale our platform to offer so much more, and continue to offer some of the highest quality services underpinned by world-class technology and a highly trained team of professionals,” Mr Enegesi stated.
Mr Remus Brett, General Partner at LocalGlobe said, “We fell in love with Eden Life’s vision for the future of home services in Africa. A true customer obsession sits at the heart of everything they are building – this is already visible in customer retention and other key metrics.
“As investors, we are always attracted to first-mover companies that launch products in untapped markets. The combination of this advantage with a core team who has proven experience building African tech to unrivalled levels sets Eden Life on an exciting path of growth.”
Having launched with three core services – those most fundamental to making the home a sanctuary – Eden Life will be rolling out many more over the coming months to make the app a one-stop tool to manage household chores and personal life.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
Economy
Naira Slips to N1,358/$1 as FX Reserves, Policy Uncertainty Concerns
By Adedapo Adesanya
It was not a good day for the Nigerian Naira in the currency market on Friday, April 24, as its value depreciated against the major foreign currencies at the close of transactions.
In the Nigerian Autonomous Foreign Exchange Market (NAFEX), it lost N4.53 or 0.33 per cent against the United States Dollar yesterday to trade at N1,358.44/$1, in contrast to the N1,353.91/$1 it was exchanged on Thursday.
Equally, the domestic currency slipped against the Pound Sterling in the official market during the session by N8.14 to close at N1,834.02/£1, compared with the previous rate of N1,825.88/£1 and dropped N8.01 against the Euro to sell at N1,590.73/€1 versus N1,582.72/€1.
Also, the Naira depreciated against the US Dollar at the GTBank FX desk on Friday by N4 to quote at N1,370/$1 compared with the previous session’s N1,366/$1, and at the parallel market, it depleted by N5 to settle at N1,380/$1 versus the preceding day’s N1,375/$1.
Data published by the Central Bank of Nigeria (CBN) indicated that NFEM interbank turnover surged to N43.562 million across 68 deals, up from N28.117 million the previous day.
Despite the CBN’s reassurance that the recent drop in external reserves is not worrisome, the market remains unsettled by persistent concerns over liquidity constraints, policy transparency, and weakening confidence in Nigeria’s FX market as gross reserves continue to decline to $48.4 billion.
The outlook for the Dollar appears supported by broader macro risks, including elevated oil prices tied to the tanker traffic disruptions in the Strait of Hormuz and a continued US-Iran standoff over ceasefire negotiations.
A look at the digital currency market showed that investors are sitting on the edge as the US Dollar rebounded amid geopolitical and inflation risks despite continued inflows into US spot bitcoin Exchange Traded Funds (ETFs).
Solana (SOL) rose by 1.2 per cent to sell $86.45, Cardano (ADA) appreciated by 1.1 per cent to $0.2517, Dogecoin (DOGE) grew by 0.9 per cent to $0.0989, Ripple (XRP) improved by 0.3 per cent to $1.43, Ethereum (ETH) soared by 0.2 per cent to $2,316.83, and Binance Coin (BNB) chalked up 0.1 per cent to sell for $637.44.
However, TRON (TRX) depreciated by 1.3 per cent to $0.3235, and Bitcoin (BTC) lost 0.2 per cent to close at $77,562.27, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.
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