Economy

Ringier Launches Business Insider Sub Saharan Africa

Published

9 years ago

21/01/2017

Modupe Gbadeyanka

By Modupe Gbadeyanka

Ringier Africa Digital Publishing (RADP) has further expanded its news and media portfolio with the launch of Business Insider, the renowned digital news brand for the global business community, for Sub Saharan Africa.

The digital edition leads with an exclusive interview with Mr Tony Elumelu, who the newly launched editorial team for Business Insider Sub Saharan Africa met with at the World Economic Forum (WEF) in Davos.

Mr Elumelu, recognised as one of the continent’s most dynamic business leaders and philanthropists, is Chairman of the Board of Heirs Holdings, the United Bank for Africa and Transcorp, and is the founder of the Tony Elumelu Foundation.

The lead interview will explore Mr Elumelu’s personal insight into the current economic climate in Nigeria, the Government’s Forex policies and the important role entrepreneurialism plays on the continent.

Business Insider Sub Saharan Africa will be operated by RADP under its Pulse new media brand. It will cover business news, enterprise, finance, politics, and technology from across the continent and beyond.

The digital outlet will debut on existing Pulse platforms, in West Africa on January 23, with more to come soon.

The Africa-focussed business title has secured an impressive roster of leading and authoritative African commentators, including Bright Simons, Ethel Cofie and Herman Chinery Hesse.

In addition to business and lifestyle stories from the continent, Business Insider Sub Saharan Africa will feature news highlights from around the world.

Business Insider, which is part of the Axel Springer family, is the largest business news site in the US and one of the fastest-growing news brands in the world.

The company pioneered a style of business coverage that offers the news its readers and viewers need to know in a format that is digital-native: real-time, social, and mobile.

Collectively, the Business Insider network of sites reaches well over 100 million unique monthly visitors across all platforms. RADP and its Pulse brand is Africa’s leading Pan-African digital content publisher, which includes Men’s Health, and Women’s Health in West Africa.

Ringier Africa & Asia CEO, Robin Lingg says: “With the launch of Business Insider Sub Saharan Africa, we are giving African leaders a trustworthy, informed and reliable voice and platform. Africa is one of the world’s most buoyant and innovative emerging markets. Such a time in the continent’s history necessitates the savvy, sharp and analytical news commentary that is Business Insider’s hallmark. We are looking to make a significant impact in the continent’s business narrative by bringing smart, straightforward news to the African marketplace, with commentary from political heavyweights and African leaders & business innovators, whose collective insight will be instrumental in telling the African business story from inside.”

Ringier Africa GM, Leonard Stiegeler says: “RADP and Pulse have an unparalleled reputation for quality content in various fields across many digital and social platforms. We believe Business Insider will complement our coverage for our audience in Africa, whose reach now numbers in the millions. We are happy to add quality business journalism that faithfully reflects and records what’s happening within and outside the continent’s business sector”.

Said Henry Blodget, Global Editor-in-Chief and CEO of Business Insider: “We’re thrilled to launch our 15th version of Business Insider in Africa – an incredibly exciting and fast-growing market. Ringier has a deep understanding of the digital space and is the ideal partner to help us bring to Sub Saharan Africa Business Insider’s unique voice and attitude.”

Economy

Xenergi in Talks to Acquire 51% Stake in Premier Paints

Published

4 hours ago

17/12/2025

Aduragbemi Omiyale

By Aduragbemi Omiyale

One of the paint makers in Nigeria, Premier Paints Plc, is currently in talks with a new investor, Xenergi Limited, for the purchase of 51 per cent stake in the company.

Xenergi Limited intends to acquire shares of Clover Global Resources Limited and TGHL Capital Limited in the organisation.

Business Post gathered that the new investor will buy 39.02 per cent from Clover Global Resources Limited and 15.20 per cent from TGHL Capital Limited.

The deal, according to a regulatory notice issued on Tuesday on the Nigerian Exchange (NGX) Limited, will involve about 63 million shares of Premier Paints.

At the current share price of the paint producer, this should be about N630 million as it closed at N10.00 per unit on NGX on December 16, 2025.

“Subject to obtaining required regulatory approvals, the transaction is expected to close before January 31, 2026.

“The company will continue to inform the public of the progress of the transaction,” the disclosure signed by the company secretary, Alozie Nwokoro, said.

Economy

Naira Trades Flat Across FX Market Windows as CBN Moves to Ease Pressure

Published

6 hours ago

17/12/2025

Adedapo Adesanya

By Adedapo Adesanya

The Naira was flat against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Tuesday, December 16, retaining the previous closing value of N1,451.82/$1.

In the same vein, the local currency saw no movement against the Pound Sterling and the Euro in the spot market during the session at N1,943.98/£1 and N1,705.74/€1, respectively.

Also, the Nigerian Naira remained unchanged in the black market yesterday at N1,475/$1 and was N1,460/$1 at the GTBank forex counter.

The Central Bank of Nigeria (CBN) has strengthened US Dollar supply with $250 million to authorised dealer banks at the official window cumulatively as foreign portfolio investors, exporters and non-bank corporate supply dripped.

The spread between official and other non-regulated markets decreased to N30.59$/1 from N44.57/$1, from the previous week, research subsidiary of Coronation Merchant Bank Limited said in a report.

FX analysts said foreign exchange inflows through the Nigerian Foreign Exchange Market decreased to $716.3 million from $844.70 million in the previous week , a 15 per cent drop in a week.

Foreign portfolio investors accounted for the highest share of inflows at 32.98 per cent, followed by exporters at 30.84 per cent, the CBN (17.36 per cent), Non-bank Corporates (16.94 per cent), others (0.72 per cent) and Individuals (0.63 per cent).

On Monday, Nigeria’s headline inflation rate eased to 14.45 per cent in November 2025, down from 16.05 per cent recorded in October, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS), representing a decrease of 1.6 percentage points month-on-month and marks a significant moderation compared to the same period last year.

As for the cryptocurrency market, there was some recoveries after overall capitalization falling below $3 trillion for the third time in a month. Large-cap assets, particularly those with Exchange Traded Fund (ETF) exposure, are experiencing selling pressure as institutional investors reassess risk.

Ripple (XRP) appreciated by 1.5 per cent to $1.92, Litecoin (LTC) expanded by 1.5 per cent to $78.91, Dogecoin (DOGE) rose by 0.8 per cent to $0.1308, Solana (SOL) went up by 0.4 per cent to $127.60, Binance Coin (BNB) grew by 0.3 per cent to $865.40, and Bitcoin (BTC) gained 0.2 per cent to sell at $86,735.17.

On the flip side, Cardano (ADA) depreciated by 1.0 per cent to $0.3802 and Ethereum (ETH) slumped by 0.4 per cent to $2,935.85, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) were flat at $1.00 each.

Economy

Stock Investors’ Portfolios Swell N14bn as Index Rises 0.01%

Published

6 hours ago

17/12/2025

Dipo Olowookere

By Dipo Olowookere

A marginal 0.01 per cent rise was recorded by the Nigerian Exchange (NGX) Limited on Tuesday. This was different from the flattish mode of the market the previous day.

Investor sentiment remained bullish as Customs Street finished with 31 price gainers and 26 price losers, implying a positive market breadth index.

Aluminium Extrusion topped the gainers’ log after it improved its price by 10.00 per cent to N9.35, Guinness Nigeria appreciated by 9.98 per cent to N263.40, Multiverse expanded by 9.95 per cent to N12.15, MeCure Industries also soared by 9.95 per cent to N45.85, and Sovereign Trust Insurance advanced by 9.89 per cent to N4.11.

Conversely, Haldane McCall led the losers’ chart after it shed 9.93 per cent to settle at N3.72, Veritas Kapital lost 9.09 per cent to close at N1.60, LivingTrust Mortgage Bank also declined by 9.09 per cent to N3.50, and Linkage Assurance depreciated by 5.71 per cent to N1.65.

During the trading day, the All-Share Index (ASI) went up by 21.23 points to 149,459.11 points from the previous day’s 149,437.88 points and the market capitalisation increased by N14 billion to N95.281 trillion from N95.267 trillion.

Yesterday, traders transacted 1.0 billion equities for N21.8 billion in 23,701 deals compared with the 553.1 million equities valued at N13.3 billion traded in 28,907 deals on Monday, representing a decline in the number of deals by 18.01 per cent, and a surge in the trading volume and value by 80.80 per cent and 63.91 per cent apiece.

Access Holdings traded 385.8 million stocks worth N7.7 billion, Champion Breweries transacted 111.8 million shares valued at N817.8 million, Sterling Holdings exchanged 85.5 million equities for N589.9 million, FCMB sold 74.7 million shares valued at N791.5 million, and First Holdco transacted 51.9 million equities worth N1.8 billion.