3 Financial Terms to Learn as a Small Business Owner

Africa is a continent of contradictions. The scars left behind by its many nations’ storied histories, as well as the new wounds opened by recent social and economic upheavals such as the global recession, the pandemic, climate change, and geopolitical tensions, mean that the continent continues to contend with challenges such as inequality, poverty, and other socio-economic issues. Yet, in the midst of these challenges, a quiet revolution is underway. Africa, often overshadowed by outdated stereotypes, is emerging as the next frontier for impact investing – a realm where profit meets purpose and where opportunities to catalyze positive change are

By Jerome-Mario Chijioke Utomi It is pedestrian information that the BRICS economic bloc, one of the leading global voices for more representation of the developing world and the Global South in world affairs, ended a historic three-day summit in South Africa where it addressed a large set of socioeconomic issues pertinent to the members of the group in the presence of interested foreign representatives and organizations as well as announced to the watching world that six countries are set to join the group in 2024: Iran, Saudi Arabia, the United Arab Emirates, Argentina, Egypt and Ethiopia. The summit was themed

By Franco Macchiavelli The 15th BRICS Summit, hosted by South Africa in Johannesburg from 22 to 24 August, culminated in the widely anticipated announcement of a soon-to-be expanded BRICS bloc, with the admission of six new member countries to this economic grouping from January 2024. In the build-up to this year’s BRICS Summit, there has also been some speculation that the grouping might discuss the issuance of a joint currency to compete with the dollar as the reserve currency with world hegemony. However, this issue was not addressed during the event. South Africa’s representative stated that such an approach was

By Tony Ogunlowo Just as ECOWAS is about to send a military task force to Niger in a bid to uproot coup leader General Abdourahmane Tchiani and his cronies and return the country back to its elected ruler, another coup d’état erupts in Gabon. This brings to eight the number of coups in Africa in the past three years. This throws a spanner in the works and will force the ECOWAS military command to re-think its strategy: you can’t fight two countries at once. African leaders haven’t changed over the years: they are still inefficient, corrupt, and couldn’t less about

By Dipo Olowookere Teachers and pupils of LEA Primary School in Karon Magiji, Abuja could not hide their excitement when a newly built block of classrooms was recently handed over to them by the Nigerian Bottling Company (NBC) Limited. This is because the tastefully furnished classrooms will enable the pupils to learn in a decent environment and boost the morale of the teachers to impart quality knowledge on the children. Before the foremost Consumer Packaged Goods company built the classrooms, pupils in the school have had to share a desk or write on their laps, making learning pretty difficult for

By Investors Hub European stocks have fallen on Tuesday, extending losses from the previous session as trade worries, escalating tensions in Hong Kong after months of political unrest and Argentine President Mauricio Macri’s loss in primary elections dented investors’ appetite for risk. Market participants also kept a close eye on Italy, where the Senate meets today to set a crucial date for a no-confidence vote that could spell the end of Prime Minister Giuseppe Conte’s populist government. While the German DAX Index has tumbled by 1.1 percent, the U.K.?s FTSE 100 Index and the French CAC 40 Index are both

By Modupe Gbadeyanka On Saturday afternoon, Vice President Yemi Osinbajo was involved in an air mishap, which caused a scare. A chopper carrying the nation’s number two citizen crash landed in Kogi State, but those on board the helicopter survived. After incident, Mr Osinbajo confirmed that he was fine and thanked everyone who expressed concern over the incident. “We are safe and sound! Thank you to everyone who has expressed concern and thank you to the crew who managed the situation well. “We believe that God will continue to keep us and Nigeria safe even as we go higher. We

By Dipo Olowookere The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of Islamic Development Bank (IDB) Group, has recently signed Memorandum of Understanding (MoU) with the City Bank Limited and CodersTrust Bangladesh Limited in order to test a new banking model named “Biniog Sathi”. With the signing of the MoU, the Islamic wing of the City Bank of Bangladesh named City Manarah will extend financing to the students for paying a portion of the training programmes undertaken by CodersTrust. These training sessions are designed to make them as qualified freelancers to generate income

By Dipo Olowookere The renewed interest of investors in domestic stocks continued on Thursday as the buying pressure further elevated the Nigerian Exchange (NGX) Limited by 0.18 per cent at the close of transactions. Business Post reports that Eterna and Berger Paints were the best-performing equities at the market yesterday, with each appreciating by 10.00 per cent to settle at N6.05 and N7.70 respectively. Oando gained 9.90 per cent to sell for N5.33, Meyer improved its share price by 9.84 per cent to trade at N2.12, while Skyway Aviation chalked up 9.83 per cent to finish at N6.37. On the

By Dipo Olowookere The All-Share Index (ASI) of the Nigerian Stock Exchange (NSE) returned to the 23,000.00 psychological mark on Monday, following activities of profit takers. The booking of profit on banking, insurance and industrial goods stocks pull down the market by 0.39 percent yesterday, expanding the year-to-date loss to 10.77 percent. At the close of transactions, the benchmark index reduced by 94.57 points to 23,950.83 points from 24,045.40 points. In the same vein, the market capitalisation decreased by N49 billion to N12.482 trillion from N12.531 trillion. As earlier stated, the loss recorded on Monday, the second in a roll,

By Adedapo Adesanya The Nigerian Naira further strengthened on the American Dollar at the Investors and Exporters (I&E) window of the foreign exchange (FX) market on Friday, August 11. Spurred by a strong supply, the local currency chalked up N40.72 or 5.2 per cent to close at N740.60/$1 compared with Thursday’s closing price of N781.34/$1. Business Post observed that during the trading session, participants bid the Naira to the Dollar as high as N799.90/$1 and as low as N738.00/$1, amid a 180 per cent or $105.81 million increase in the value of forex transactions to $164.60 million from the $58.79

By Adedapo Adesanya The price of Brent crude plunged by 12.79 per cent or $16.37 to $111.6 per barrel on Wednesday amid indications of possible progress by the world’s largest producer, the United States, in encouraging more oil production from other sources. Also, the price of the US West Texas Intermediate (WTI) went down at the midweek session by 11.84 per cent or $14.65 to trade at $109.0 per barrel. Last week, the International Energy Agency released 60 million barrels of oil reserves to compensate for supply disruptions following Russia’s invasion of Ukraine. Now, the US is encouraging more oil