105 Young Nigerians Battle for The Future Awards Africa

By Africa Magic 20 years, 7 channels and about N622.5 billion in investment in local content development. In 2003 we began our journey of telling authentic Nigerian stories with the launch of Africa Magic. We were intent on creating a platform where the everyday Nigerian could see themselves represented in relatable stories reflecting our cultures and life in Nigeria, told ‘by us, for us’ – the Naija way. Now, we celebrate an iconic milestone – celebrating 20 years of creating and telling original Nigerian stories, producing and licensing over 25,000 hours of authentic Nigerian content. Africa Magic launched as a

By Adedapo Adesanya  The African Export-Import Bank (Afreximbank) is establishing a $1 billion African Film Fund in 2024 to support the continent’s movie industry. This information was disclosed by the Executive Vice President for Intra-African Trade Bank at Afreximbank, Mrs Kanayo Awani, in Cairo, Egypt, during her address at the opening of the 2023 Creative Africa Nexus (CANEX) Summit held as part of the third Intra-African Trade Fair (IATF2023). IATF2023 is Africa’s largest trade and investment fair opened yesterday and will run till November 15, 2023. Mrs Awani said that the fund would oversee film financing, co-finance with large studios,

By Modupe Gbadeyanka A foremost pay-tv service provider in Africa, MultiChoice, has raised an alarm that its over $85 million investments in local content through Africa Magic are under threat from piracy. The Africa Magic channel airs movies produced by local filmmakers across the continent. MultiChoice said it pumped that amount of money into domestic content over the last few years to create opportunities for young creators to earn a living from their work and for Africa to tell its authentic stories. It noted that this was done through the production and acquisition of films promoting the African culture, but

Nollywood has numerous actors and actresses who wear different characters to entertain us in movies. The steady rise of Nollywood talents in recent years is remarkable, and this is down to the investment of platforms like Africa Magic in talent discovery and commissioning/licensing of movies and series that cast budding talents. In celebration of Africa Magic at 20, here is a list of renowned Nollywood telnets who rose to stardom on the Africa Magic platform: Tobi Bakre: He’s no doubt one of the hottest talents around at the moment. Tobi rose to stardom on one of Africa Magic’s reality TV

By Dipo Olowookere For violating the physical planning law, the Lagos State government has sealed about 16 buildings in the highbrow Ikeja GRA. The General Manager of the officials of Lagos State Physical Planning Permit Authority (LASPPPA), Mr Kehinde Osinaike, who led the team to the exercise, said the affected properties specifically violated the Ikeja Model City Plan. According to him, GRA is supposed to be a structured residential estate and part of the Ikeja Model City plan, stressing that the exercise was necessary to ensure compliance by the property owners. The town planner, who led the enforcement team comprising

By Dipo Olowookere It is no longer news that Nigerians, because of some factors, prefer to buy second hand used car instead of brand new ones. One of the reasons for this is the cost of acquiring new cars, which many see as killing. But the Federal Government has disclosed that it will launch a Vehicle Credit Acquisition Scheme to help Nigerians purchase locally assembled vehicles. According to the Director Policy and Planning of the National Automotive Design and Development Council (NADDC), Mr Luqman Mamudu, the FG will contribute about N7.5 billion interest free fund to the scheme. He made

By Modupe Gbadeyanka A tertiary institution in Oke-Ogun, Iseyin, Oyo State accused of operating illegally has been shut down by the state government. A statement issued on Tuesday by the Commissioner for Information, Culture and Tourism, Mr Wasiu Olatunbosun, disclosed that the school, Oke-Ogun College of Management Sciences and Technology, Iseyin, was ordered to be shut down with immediate effect. The Commissioner said his counterpart in the Ministry of Education, Science and Technology, Mr Rahman Abiodun Abdu-Raheem, said the institution was shut down for non-compliance with registration procedures. Recall that some indigenes of the town, under the auspices of Ebedi

By Dipo Olowookere Transactions at the nation’s secondary market for treasury bills were bullish on Thursday, October 10, 2019 as investors continue to chew the 2020 budget presented by President Muhammadu Buhari on Tuesday. A day after submitting his budget proposal to a joint session of the National Assembly for the 2020 fiscal year, Mr Buhari finally inaugurated his Economic Advisory Council led by Prof Doyin Salami. At the event, he said global bodies like the World Bank, International Monetary Fund (IMF) and others were churning out inaccurate figures about Nigeria, charging his economic team to make data collection as

By Modupe Gbadeyanka Lome-based parent company of the Ecobank Group, Ecobank Transnational Incorporated (ETI) has secured a $250 million loan. A statement issued by the lender on Tuesday, September 5, 2017 explained that the loan deal was completed today. Ecobank said the facility is a five-year senior unsecured loan obtained from Deutsche Bank AG, a German global banking and financial services company. According to the statement by a member of ETI’s Group Communications, Mireille Bokpe-Anoumou, the Public Investment Company (PIC) of South Africa, one of the major institutional shareholders of ETI, is providing full credit support to Deutsche Bank in

By Modupe Gbadeyanka No fewer than 5 million Micro, Small and Medium Enterprises (MSMEs) being operated by women in the South West region of Nigeria would be engaged by Unity Bank Plc. The Nigerian retail lender disclosed this at the launch of the Yanga Account in Ibadan, Oyo State. The account package was specifically designed by the financial institution to promote women MSMEs and create a unique proposition. At the official launch of the Yanga Account recently in Abuja, a movie star in Nigeria, Sola Sobowale, was unveiled as the brand ambassador. Yanga Account is a complete suite of services

By Modupe Gbadeyanka The inflation rate in Nigeria rose to 17.9 percent in the month of September, the National Bureau of Statistics (NBS) disclosed in its latest report. In the report released on Friday, the NBS explained that the rate was up by 0.24 percent in the month under review, noting that the headline inflation eased to 0.8 percent last month, against 1.0 percent growth in the month of August. Energy and energy-related prices recorded the largest increases reflected in the core sub-index, the NBS said. According to the report, “During the month, the highest increases were seen in the

By Investors Hub European stocks have moved modestly lower on Tuesday as weak PMI surveys from the eurozone raised fresh worries about the outlook for global growth. The euro area manufacturing sector contracted at the fastest pace in nearly seven years as output, new orders and purchasing fell sharply in September, final data from IHS Markit showed. The final manufacturing Purchasing Managers’ Index dropped to 45.7 in September from 47.0 in August. Germany’s manufacturing sector contracted the most since the global financial crisis in 2009, while French manufacturing activity remained broadly stable. The U.K. manufacturing purchasing managers index rose to