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Economy

Uber, Old Mutual Help Drivers to Earn, Learn, Save

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By Dipo Olowookere

In celebration of Global Money Week, Uber and Old Mutual have announced that they will be extending its free money management course that took place in South Africa to its driver-partners in Accra, (Ghana), Lagos (Nigeria) and Nairobi, (Kenya).

The course reflects Global Money Week’s theme – Learn. Save. Earn. Driver-partners attending the workshops will be empowered with the skills to manage their finances in order to grow their income and save for the future. Workshops begin this week and drivers will receive an invitation via email to reserve their seat.

Driver-partners across Africa are extremely important to Uber and their own financial wellbeing is an ongoing priority.

The technology and flexibility of the Uber app enables driver-partners to start, run and grow a small business on their own terms. By offering skills development in financial management, Uber can assist entrepreneurs in building sustainable businesses.

Recent statistics illustrate the contribution small and medium enterprises (SMEs) make to high growth economies on the African continent. The Kenya National Bureau of Statistics notes that there are over 17 million SMEs registered in Kenya, with these businesses employing half of the Kenyan workforce. In Ghana, 92 per cent of companies registered are micro, small and medium enterprises and contribute 70 percent to the country’s GDP, while Nigeria has seen a 100% increase in small businesses in recent years.

However, this boom in entrepreneurship is not without its challenges. The findings of a study conducted by Invest In Africa (IIA) and Strathmore Business School illustrate that 70 percent of Kenyan SME’s fail within the first three years of operation owing to a failure to scale up.

Nigeria’s national MSMEs survey conducted by the Small and Medium Enterprises Development Agency (SMEDAN) in partnership with the National Bureau of Statistics (NBS) notes that only 69 percent of SMEs have business plans and 95 percent have no form of insurance.

This lack of planning and financial savvy can cause the business to fail in their early stages. Through targeted education and skills development, entrepreneurs have a much stronger chance of ongoing success.

The Old Mutual On the Money workshops are free to Uber driver-partners in Kenya, Nigeria and Ghana. By attending, they’ll learn to understand basic money principles, develop healthy savings habits and plan a path to financial well-being. The workshops were previously run in partnership with Uber in South Africa with great results and positive feedback from the driver-partners who attended.

Zweli Ngwenya, a driver-partner who attended the Old Mutual On the Money workshops in South Africa says, “This course has helped me a lot in learning how to plan my budget.”

Alon Lits, General Manager for Uber Sub-Saharan Africa says, “Uber is a passionate champion of innovation, both in the transport sector and in the development of entrepreneurs. With this partnership we can foster the skills of emerging entrepreneurs, empower driver-partners using our app to grow their small business, support their families and begin saving.”

John Manyike, Head of Financial Education at Old Mutual, says, “Global Money Week highlights the importance of money management skills and we are excited to be able to play a role in helping entrepreneurs make the most of their hard-earned money. Small businesses are key to driving inclusive economic growth in Africa – and their success will ultimately benefit us all. By extending this partnership with Uber across Africa, we are able to further promote financial fitness across the continent.”

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

Economy

Nodepay Airdrop: A Strategic Move or Just Another Token Giveaway?

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Nodepay Airdrop

By Anastasia Chabaniuk

The crypto landscape is increasingly cluttered with airdrops, but Nodepay’s approach appears more calculated than most. By integrating with major exchanges like OKX and offering a browser extension, Nodepay is building an ecosystem rather than simply distributing tokens. The TU website analysis shows that projects with comprehensive utility frameworks surrounding their airdrops tend to retain value 60% longer than pure marketing-driven distributions.

Nodepay’s multi-phase airdrop ties token distribution directly to platform growth metrics and user engagement. Unlike many competitors who simply drop tokens to generate temporary hype, Nodepay has implemented a feedback loop where airdrop participation drives actual product adoption.

The integration with OKX provides Nodepay instant credibility, while the browser extension strategy mirrors successful models previously implemented by established projects like Brave.

What Is the Nodepay Airdrop and How Does It Work?

The Nodepay airdrop represents a calculated token distribution event where eligible users receive free tokens based on specific qualifying activities and wallet interactions. Unlike random giveaways, Nodepay has implemented a tiered qualification system that rewards users based on their engagement level with the platform’s ecosystem.

To qualify, users must complete several actions:

  • Install and actively use the Nodepay extension for a minimum period
  • Complete KYC verification through the official platform
  • Hold a minimum threshold of cryptocurrency in compatible wallets
  • Engage with the Nodepay ecosystem through transactions or staking

Cryptocurrency strategist Marcus Chen explains, “Nodepay’s qualification requirements serve dual purposes—they filter for genuine users while simultaneously encouraging platform familiarity.” The distribution formula reportedly weighs early adopters and consistent users more heavily, creating an incentive for sustained engagement rather than speculative participation.

The airdrop will be distributed across multiple phases, with tokens being released gradually to prevent immediate selling pressure. Integration with major exchanges like Nodepay OKX ensures that recipients have immediate liquidity options while maintaining token price stability through controlled distribution mechanisms.

Key Benefits of the Nodepay Airdrop for Investors

The Nodepay airdrop offers several strategic advantages for investors beyond the immediate token acquisition. By participating in this distribution event, investors position themselves on the ground floor of a potentially transformative payment ecosystem.

Primary benefits include:

  1. Early Ecosystem Access: Participants gain privileged positioning within the Nodepay network before wider adoption occurs
  2. Potential Governance Rights: Token holders may receive voting privileges on future platform developments
  3. Network Effect Advantages: Value appreciation correlates with user growth, benefiting early participants

Integrating the Nodepay extension and major exchanges like OKX creates a seamless experience for token management post-airdrop. Unlike many projects that struggle with liquidity, the OKX partnership potentially provides immediate trading options for participants seeking to optimize their positions.

For strategic investors, the airdrop represents an opportunity to diversify cryptocurrency holdings with minimal capital risk while maintaining exposure to innovation in the payment processing sector.

Is Nodepay’s Airdrop a Smart Growth Strategy?

Analyzing Nodepay’s airdrop from a strategic perspective reveals a multifaceted approach to ecosystem development. Unlike many token distributions focusing solely on creating short-term price action, Nodepay’s methodology appears designed for sustainable growth metrics.

The strategy leverages several key principles:

  • Community Building: By requiring active participation through the Nodepay extension, the project filters for engaged users rather than opportunistic participants
  • Product Adoption: The airdrop incentivizes direct interaction with core products, generating valuable user feedback before wider release
  • Market Positioning: Partnership with established exchanges like OKX provides immediate credibility and liquidity pathways

From a network economics perspective, this approach creates positive feedback loops – each new participant increases platform utility, potentially attracting additional users. The requirement to use the Nodepay extension ensures that participants experience the actual product value proposition rather than merely speculating on future worth.

However, the actual test will be post-distribution retention metrics. Successful growth strategies convert airdrop participants into permanent ecosystem contributors through genuine utility and continuing engagement incentives.

Potential Risks and Concerns About the Nodepay Airdrop

Despite promising aspects, the Nodepay airdrop carries several risks that potential participants should carefully evaluate before commitment. The cryptocurrency landscape is littered with failed projects that initially generated significant excitement through token distributions.

Critical concerns include:

  • Regulatory Uncertainty: Token distributions increasingly face regulatory scrutiny in multiple jurisdictions
  • Dilution Risk: Future token releases could significantly impact value for early participants
  • Adoption Barriers: The requirement to use the Nodepay extension could limit mainstream access
  • Exchange Dependency: Over-reliance on specific partnerships like OKX creates potential centralization vulnerabilities

The project’s emphasis on the Nodepay extension also introduces technical risk factors, as browser extensions represent potential security attack vectors if not properly audited and maintained. Additionally, some participants report compatibility issues with specific operating systems when installing the required extension.

claim Nodepay Airdrop

While the partnership with exchanges like OKX provides legitimacy, it also creates a dependency on third-party infrastructure that remains outside Nodepay’s direct control.

How to Claim the Nodepay Airdrop and Maximize Returns

Successful participation in the Nodepay airdrop requires a methodical approach that maximizes qualification potential while positioning for optimal post-distribution outcomes. The process involves several key steps:

  1. Preparation Phase
  • Install the official Nodepay extension from authorized sources only
  • Connect to supported wallets with appropriate transaction history
  • Complete KYC verification if required (see Nodepay TU website for requirements)

      2. Qualification Activities

  • Conduct eligible transactions through the Nodepay platform
  • Participate in OKX-Nodepay integrated features
  • Maintain consistent activity throughout the qualification period

     3. Post-Distribution Strategy

  • Consider staking options for additional yield
  • Participate in governance to enhance token utility
  • Monitor market conditions for optimal position management

Anastasiia Chabaniuk – author and financial expert at Traders Union, advises: “The participants who typically extract the most value from airdrops like Nodepay’s are those who approach them as ecosystem entry points rather than one-time windfalls.”

For comprehensive guides on maximizing qualification scoring, users should reference the official Nodepay documentation and technical update bulletins. Community resources offer additional insights into optimizing participation strategies and post-claim management techniques.

Conclusion: Is Nodepay’s Airdrop Worth Your Attention?

The Nodepay airdrop represents an interesting case study in token distribution strategies that attempts to balance marketing objectives with genuine ecosystem development. While many airdrops in the cryptocurrency space ultimately deliver limited long-term value, Nodepay’s structured approach and integration with established platforms like OKX suggest more substantial foundations.

For potential participants, the decision ultimately depends on individual investment objectives and risk tolerance. Those willing to engage actively with the platform through the Nodepay extension and complete the required qualification steps may find value beyond the immediate token acquisition. The partnership with OKX potentially provides an immediate utility that many airdrop projects lack.

However, prudent participants should maintain realistic expectations and understand that even well-designed airdrops carry inherent risks. The most successful approach combines opportunistic participation with careful evaluation of the underlying project fundamentals, team credentials, and market positioning.

As with all cryptocurrency projects, diversification remains essential – the Nodepay airdrop should represent just one component of a balanced digital asset strategy rather than a primary investment focus. By approaching the opportunity with clear objectives and appropriate due diligence, participants can maximize potential benefits while managing downside exposure.

About the Author

This article was written by Anastasia Chabaniuk. She brings 17 years of expertise in finance and content marketing to her advisory role. She firmly believes that investors and new traders thrive when equipped with reliable information and expert guidance.

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Economy

British Savannah Energy Completes Acquisition of Sinopec Assets in Nigeria

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Sinopec

By Adedapo Adesanya

Savannah Energy Plc, a British independent energy company, has announced the completion of its acquisition of Sinopec International Petroleum Exploration and Production Company Nigeria Limited (SIPEC).

SIPEC’s principal asset is the 49 per cent non-operated interest in the Stubb Creek oil and gas field which is operated and 51-per cent owned by Universal Energy Resources Limited, a Savannah affiliate company.

According to the company, the SIPEC acquisition increases Savannah’s reserves and resources base by approximately 30% from 151 million barrels of oil equivalent (MMboe) to 197 MMboe.

The deal is highly accretive to the group net asset value management, with an estimated value of $194 million on a pre-debt basis.

There is material production upside as Savannah now intends to commence an 18-month expansion programme which is anticipated to increase Stubb Creek Field gross production from an average of 2.7 Kbopd in 2024 to approximately 4.7 Kbopd.

The acquisition adds 227 Bscf of 2C gross gas resources at Stubb Creek Field, securing significant additional long-term feedstock gas available for sale to Accugas customers.

Savannah said the transaction was fully funded through a drawdown under a $60 million reserve-based lending debt facility arranged by the Standard Bank of South Africa Limited.

At completion, the cumulative consideration paid was approximately $35.1 million, inclusive of approximately $19.5 million of cash available to SIPEC, with $2 million in deferred cash consideration payable in eight quarterly instalments post-completion.

Stubb Creek Field, located in Akwa Ibom State, Nigeria, is a producing oil field with considerable undeveloped, non-associated 2C gas Resources. Oil produced at Stubb Creek field is processed through production facilities onsite and then exported to the Qua Iboe terminal via a 25-km pipeline.

The field was converted to a 20-year petroleum mining lease, PML20, in accordance with the Petroleum Industry Act 2021 and effective from Dec. 1, 2023.

Speaking on the deal, Mr Andrew Knott, Chief Executive Officer of Savannah, said: “We are delighted to announce the completion of the SIPEC acquisition, the achievement of one of our core business priorities for 2025.

“Our focus at the Stubb Creek Field will now turn to progressing the expansion project, which we expect to increase production by almost three quarters throughout 2025/26.

“I look forward to updating shareholders on this in the coming months, as well as on the progress we make towards achieving the other core business priorities we outlined to shareholders earlier this month.

“I would like to thank the Government of Nigeria for the support that they have shown our Company in approving the SIPEC acquisition and I extend a warm welcome to the SIPEC employees joining Savannah today.”

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Economy

Renaissance Finally Completes Acquisition of Shell Onshore Assets

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SNEPCo workers Shell

By Adedapo Adesanya

Renaissance Africa Energy has finally completed the acquisition of the entire 100 per cent equity holding in Shell Petroleum Development Company of Nigeria (SPDC).

This is according to a statement on Thursday by the spokesman of Renaissance Africa Energy Holdings, Mr Tony Okonedo who said the acquisition was completed on the same day.

“This follows the signing of a sale and purchase agreement with Shell in January 2024, and obtaining all regulatory approvals required for the transaction. Going forward, SPDC will be renamed as ‘Renaissance Africa Energy Company Limited,” the statement added.

The deal had hit a snag last year October because the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) raised issues about the ability of the firm to takeover the $1.3 billion asset.

However, it was then approved in December.

Renaissance Africa Energy Holdings is a consortium consisting of four successful Nigerian independent oil and gas companies: ND Western Limited, Aradel Holdings Plc, First Exploration and Petroleum Development Company Limited and the Waltersmith Group, each with considerable operations experience in the Niger Delta, and Petrolin, an international energy company with global trading experience and a pan African outlook.

Speaking on the deal, Mr Tony Attah, the Managing Director/CEO of Renaissance noted that “We are extremely proud to have completed this strategic acquisition. The Renaissance vision is to be ‘Africa’s leading oil and gas company, enabling energy security and industrialisation in a sustainable manner.’

“We and our shareholder companies are therefore pleased that the Federal Government has given the green light for this milestone acquisition in line with the provisions of the Petroleum Industry Act.”

“We extend our appreciation to the Minister of Petroleum Resources, the CEO of the Nigeria Upstream Petroleum Regulatory Commission (NUPRC), and the GCEO of Nigeria National Petroleum Company Limited (NNPCL) for their foresight and belief, paving the way for the rapid development of Nigeria’s vast oil and gas resources as a strategic accelerator for the country’s industrial development,” he added.

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