Premier Paints Cuts 2019 Half Year Loss to N14.3m

By Adedapo Adesanya The African Development Bank Group (AfDB) has revealed that a $1 billion facility would be used to provide insurance to more than 40 million farmers across the continent against severe impacts of climate change. Initially unveiled at the Africa Climate Summit held in Nairobi in September, the Africa Climate Risk Insurance Facility for Adaptation (ACRIFA) brings together governments, development agencies, the insurance sector and the private sector, said the president of the bank, Mr Akinwumi Adesina, while speaking during a side event at COP28 in Dubai. He said ACRIFA aims to mobilise $1 billion of concessionary financing,

By Bliss Okperan Nigeria recorded an improvement in its trade surplus in the third quarter of 2023, according to data released by the National Bureau of Statistics (NBS), which was analysed by Business Post. The agency disclosed that in the period under review, the total value of exports stood at N10.347 trillion, while imports stood at N8.458 trillion, leaving the total value of trades at N18.802 trillion, 60.78 per cent higher than the N6.435 trillion achieved in the second quarter of 2023. Analysis showed that between July and September 2023, the country, which prides itself as the biggest economy in

By Adedapo Adesanya Bitmama Incorporated, a crypto exchange company, has confirmed the acquisition of Payday, a virtual card service provider. According to reports, the chief executive of Bitmama, Mrs Ruth Iselema, has offered PayDay investors $1 million worth of equity in the crypto company at a $30 million valuation. The news comes barely nine months after Payday announced its $3 million seed round and three months after its exploration of sale options was confirmed. Facilitated through Bitmama’s cross-border payments product, Changera, the acquisition marks a pivotal shift from earlier speculations, including a potential acquisition by lead investor, Moniepoint. Changera is

By Adedapo Adesanya The Naira started the first trading session in the last month of 2023 on a negative note after it depreciated against the Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM), which is the official FX window, by 11.4 per cent or N94.87 on Friday, December 1, closing at N927.19/$1, in contrast to Thursday’s exchange rate of N832.32/$1. The December rush for forex contributed to the weakening of the domestic currency in the spot market yesterday, as the supply of foreign currency could not meet what customers needed. Data showed that the value of FX transactions recorded

By Dipo Olowookere Nigerians may have to start gearing up to pay more in this harsh economy if they wish to continue accessing television contents from popular PayTV provider, DSTV. This hint was dropped recently by the General Manager, Sales and Marketing of MultiChoice Nigeria, Mr Martin Maputo. MultiChoice Nigeria is the parent company of DSTV, which has provided interesting contents to Nigerians for many years, including the English Premier League (EPL). Checks by Business Post revealed that since the country went into recession, some Nigerians have found it difficult to do some things, including paying for monthly DSTV subscriptions

By Modupe Gbadeyanka Founder of BusinessIQ, Mr Alfred Ade-Ijimakinwa, has launched a platform to help entrepreneurs in the micro, small and medium enterprises (MSMEs) sector in Nigeria get practicable steps to survive and thrive in the new normal occasioned by COVID-19. According to him, this platform, BusinessIQ Africa, is primarily resourceful for entrepreneurs- business owners and those who intend to start managing and grow successful businesses in Nigeria and Africa at large. It is no news that the world is presently grappling with the impact of the outbreak of the Coronavirus pandemic, which has continued to cause worldwide challenges to

By Adedapo Adesanya The Department of Petroleum Resources (DPR) on Thursday reopened five filling stations shut by the Lagos State Building Control Agency (LASBCA) in Ajah and Ibeju Lekki axis of the state. The petrol stations, operated by members of the Major Oil Marketers Association of Nigeria (MOMAN), members were sealed by the state’s building control agency but the country’s petroleum regulatory agency, being the organisation legally allowed to carry out such an action, said the stations were sealed without consultation. Speaking at the reopening of the fuel stations, Mr Ayorinde Cardoso, Zonal Operations Controller, DPR, Lagos Zone, argued that

By Dipo Olowookere Global leader in communication solutions over data networks, Kirusa, has been honoured for its innovation. The firm’s Kirusa Konnect™ product was awarded West Africa Com’s Outstanding Enterprise Solution of 2017. The award is in recognition of the role played by Kirusa Konnect in facilitating the Ebola Education Campaign to educate Ghanaians on the Ebola epidemic, helping to combat the spread of the Virus by allowing mobile users to retrieve information for free. Commenting on the award, Inderpal Singh Mumick, Founder, Chairman and CEO of Kirusa, said: “It gives me great pleasure to see that our enterprise suite’s

By Adedapo Adesanya Crude oil fell for a second day on Tuesday as upbeat Chinese economic data failed to deflect the focus from a possible increase in interest rates in the United States. Brent crude fell by 18 cents or 0.2 per cent trade to $84.58 a barrel, while the US West Texas Intermediate (WTI) lost 2 cents to sell for $80.81 per barrel. Oil had found support from figures showing that China’s economy grew by a faster-than-expected 4.5 per cent in the first quarter and that oil refinery throughput rose to record levels in March. On a quarter-by-quarter basis,

By Modupe Gbadeyanka One of the leading malt brands from the stable of Nigerian Breweries Plc, Amstel Malta, has launched a new campaign tagged ‘Why Add More.’ At a media briefing held in Lagos last week, the Portfolio Manager, Non Alcoholic Drinks, Nigerian Breweries, Mr Olayinka Bakare, explained that the ‘Why Add More’ campaign “touches a fundamental truth about our esteemed consumers and the Amstel Malta Brand.” Mr Bakare further disclosed that, “The campaign is truly world class and will further reinforce Amstel Malta’s place as the Premium Malt Drink, with an Original formulation that contains Less Sugar and is

The management and owners of the Port Harcourt Mall have commiserated with all the injured people in the gas outburst that happened on Wednesday, June 12 2019. This statement was made by the Mall Manager, Mrs Chioma Okorie, in Port Harcourt, Rivers State. According to her, the management of the mall empathizes with all the victims of the unfortunate incident that happened recently, noting that an extensive analysis of the situation has been done alongside other agencies of government, assuring customers that the mall was safe for use. In her words, “the gas outburst happened in the evening of June

By Aisha Pandor Imposter syndrome is something that most of us have felt at one time or another. Even if you know you have all the right qualifications and experience to be in a position, it can be all too easy to feel like you don’t belong. Whether it’s someone dismissing your work or even just casually telling you about something you’ve never heard of as if it’s common knowledge, it can be an incredibly difficult space to climb out of. Imposter syndrome can be especially insidious among entrepreneurs, who already have to deal with ecstatic highs and crippling lows.