United Capital Posts Strong H1 2020 Earnings in Touch Terrain

By Aduragbemi Omiyale A Nigerian startup, Pivo, which raised about $2 million in November 2022, is shutting down its operations, TechCabal is reporting. The platform quoted the co-founder and chief executive of the firm, Ms Nkiru Amadi-Emina, as confirming the intention of the company to fold up. However, no specific reason was given for the decision, though some organisations have been closing shops in Nigeria lately due to the harsh operating environment. One of the biggest pharmaceutical firms in the country, GlaxoSmithKline (GSK), announced a few months ago that it would no longer operate its business from Nigeria, opting to

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 Dipo Olowookere The online stock trading platform of Morgan Capital Securities Limited, iTrade, is now back online. The iTrade service went offline on Monday due to a technical glitch, which the company confirmed has been resolved, allowing its numerous clients to buy and sell shares and other securities without hassle. “Thank you for your patience and understanding. “This is to inform you that the trading platform (iTrade) is now fully up and running to enable you to trade seamlessly. “Our sincere apologies for any inconvenience caused as a result of this,” a statement from the company, which was sighted

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange appreciated by 0.41 per cent in Week 48, with the market capitalisation gaining N4.77 billion to settle at N1.166 trillion from the N1.162 trillion it ended in Week 47, and the NASD Unlisted Security Index (NSI) rising by 3.52 points to 860.81 points from 857.29 points in the previous week. In the five-day trading week, the total volume of stocks traded slumped by 69.1 per cent to 4.22 million units from 13.6 million in the preceding week and equally, the value of shares dropped by 69.6 per cent to N41.4 million

By Dipo Olowookere An international team of researchers representing the Africa Rice Center (AfricaRice), the International Rice Research Institute (IRRI) and Wageningen University, has raised the alarm over the enormous economic impact of parasitic weeds on rice production in Africa, threatening the food security and livelihoods of millions of resource-poor rice farmers and consumers in the region. Smallholder farmers in the continent are losing every year half a million tons of rice worth about US $200 million because of parasitic weeds. This is roughly equivalent to the annual rice consumption of Liberia, a low-income country, which is highly dependent on

By Adeniyi Ogunfowoke Heels are essential to most wardrobes, but there’s nothing worse than putting together an amazing outfit for an outing, only to be sidelined an hour in because your feet are throbbing in pain. Well, you are not alone here, there are many ladies out there who feel pain whenever they wear heels. As such, Jumia, the online store you can trust, roll out tips on how to wear heels without pain. Ensure you’re wearing the right size shoe The No. 1 mistake women likely make is not having the right shoe size for their foot. Your foot

By Dipo Olowookere The management of Dangote Salt and the National Agency for Food and Drugs Administration and Control (NAFDAC) have expressed their readiness to collaborate and corroborate efforts to rid the food market of unwholesome practices by unscrupulous traders. The two managements resolved to work together closely to monitor the quality of products that are delivered to the market after ascertaining that the right quality of products are taken out of the factory. The management of NASCON Allied Industries Plc led by the Managing Director, Mr Paul Ferrer and the Dangote Group’s Chief Corporate Communication Officer, Mr Anthony Chiejina

By Modupe Gbadeyanka Director General of Premier Agribusiness Academy, Mr Toromade Francis, has revealed that to make agribusiness profitable in Nigeria, farmers must acquire cognitive skill and knowledge of human capital development, marketing and sales of agric products as well as logistics and supply chain management through continuous training and learning. According to the agribusiness expert, there is a huge difference between agriculture and agribusiness, stressing that what makes agriculture a business is its ability to generate profit. Mr Francis, in a chat with reporters last Saturday in Lagos, applauded federal government for its food self-sufficiency initiative and move towards

By Dipo Olowookere It was another four-day trading week as the Federal Government of Nigeria declared Monday, April 17, 2017 as public holiday in commemoration of the Easter celebrations. During the trading week, a total turnover of 896.748 million shares worth N5.918 billion in 11,185 deals were traded by investors on the floor of the Nigerian Stock Exchange (NSE) in contrast to a total of 1.191 billion shares valued at N6.037 billion that exchanged hands last week in 11,820 deals. Business Post gathered that the Financial Services Industry (measured by volume) led the activity chart with 688.971 million shares valued

By Bliss Okperan The federal government has said it would continue to issue Islamic bonds, Sukuk, every year to fund critical road projects across the country. The Director General of the Debt Management Office (DMO), Ms Patience Oniha, made this disclosure on Thursday in Abuja. She was asking investors to subscribe to the latest issuance of N150 billion by the Nigerian government, which started this week. The national government intends to raise fresh N150 billion to fund some 53 road projects covering over 3,000 kilometres across the country. “The government and people involved believe in the use of Sukuk and

By Modupe Gbadeyanka Stakeholders in the real estate sector will on Saturday, May 6, 2023, gather at Metro Homes, Atlantic Layout, Lekki Gardens. Phase 4, Ajah, Lagos for the second edition of Realtors Hangout, a programme put together by a major player in the space, Metro & Castle. A statement from the organisers disclosed that the theme for this event is How To Become High Flyer in Real Estate Industry. They noted that experts, entrepreneurs, businessmen and women, intellectuals and customers would share ideas among themselves on the day of the workshop, and chart a course for the industry. The

Professor Graham, addressing the 4th UNI Africa Conference in Dakar, Senegal, warned of the danger of ‘parasitic capitalism’ where digital companies give little back to the places where they are embedded and platform workers are left to fend for themselves. UNI Global Union General Secretary Philip Jennings’ said research into the Future World of Work followed by action was crucial, “We have to face the reality – the research that has been undertaken by Oxford University, the World Economic Forum, the OECD and others all points to a bleak future of employment which cuts across many sectors. This poses policy