2022’s Top Rated South African Online Casinos with the Biggest Sign-Up Bonuses: Free No Deposit Bonus Analysis

Image

SouthAfricanCasinos.co.za announces the release of a comprehensive review detailing the best sign-up no deposit bonuses at top-rated SA online casinos.

Every month, millions of South Africans play at their favorite online gambling sites. There are scores of such sites that support the South African Rand (ZAR) currency, local banking options and South African-friendly online casino games.

Throw into the mix the many different online casino bonuses available at these sites, and it becomes quite a mission to find the best South African online casinos with the biggest no deposit sign-up bonuses.

SouthAfricanCasinos.co.za took it upon itself to review the best sites available for the South African market. Its team looked closely at the sign-up bonuses – both free no deposit bonuses on sign up, and the welcome deposit bonuses –  not only the amount being offered, but also at the fine print to ensure that the terms and conditions are reasonable and fair.

This online casino review focused on the top 14 South African online casinos. It takes a deep dive into the welcome offers offered at each casino site, weighing the pros and cons of the bonus promotions. The review also summarizes the important information that players need to know about the offer, including any exclusive bonus code that should be claimed in order to receive the bonus.

How We Evaluated the Top South Africa Online Casino Sign-Up Bonuses

SouthAfricanCasinos.co.za is considered the LARGEST and most reputable online casino and gambling guide in South Africa. Its site carefully reviews, vets and ranks the best online casinos for local SA players.

Using the services and talents of its professional team, with many years of experience under its belt, SouthAfricanCasinos.co.za put together a list of the top-rated ZAR casinos.  For a complete list of their approved casinos, visit https://www.southafricancasinos.co.za/online-casinos/casino-list.html

It then looked at the welcome bonuses and broke down the information to make it clear for South African players to understand.

At the same time, our team also looked at the overall picture since a good welcome bonus is not the only indication of a great trusted online casino. Things such as software, security, customer service, games variety and mobile compatibility were also examined.

In Depth Review of the 14 Best South African Online Casino Sign-Up Bonuses
1.
Springbok Casino 

Part of the South African online casino scene since 2012, Springbok Casino uses RTG software and showcases over 400 exciting ZAR casino games. This licensed online casino uses the last word in security technology to keep things safe and above-board. Springbok Casino can be played on desktop or from Apple iOS and Android mobile devices and tablets.

Welcome Bonus Package:

  • R350 free bonus on registration available with no deposit

Coupon code: NDC350

Wagering requirements: 60 x bonus amount

Maximum cash out: R500
R11,500 Welcome bonus on first 3 deposits

  • 1st deposit: 100% up to R1,500. Coupon code: SPRINGBOK100
  • 2nd deposit: 50% up to R5,000. Coupon code: SPRINGBOK50
  • 3rd deposit: 50% up to R5,000. Coupon code: SPRINGBOK50

Wagering requirements: 30 x bonus and deposit amount.

Maximum cashout: None
Find the latest Springbok Casino Coupons and bonus codes here: https://www.southafricancasinos.co.za/latest-springbok-casino-coupons-bonus-codes.html
Join Springbok Casino Here
Europa Casino

The name hints at European class and quality, but this is a predominantly South African-facing online casino. Europa Casino Online supports ZAR and offers plenty of SA friendly banking options, including EasyEFT bank transfers.  The main software vendor is the industry-leading Playtech, but you’ll also find games by NetEnt and BetSoft. Play Europa Casino on PC or mobile and enjoy first-class support and security. Below you will find the latest Europa Casino coupons and bonus codes available to new players joining.

Welcome Bonus Package:

  • Exclusive R375 Free No Deposit Bonus available upon registration.

Coupon code: None required – bonus credited automatically

Permitted games: All except a few excluded.

Wagering requirements: 50 x bonus amount

Maximum cashout: R1,000

  • R24,000 Welcome Bonus
  • 100% match bonus up to R1,000 on the first deposit each month for 12 months. For the first month, accept the bonus offer on your first deposit. Thereafter, contact customer support after making the first deposit of every month.
  • Weekly bonus of R250 for the first 48 weeks. VIP players can claim a higher bonus.

Monthly bonus wagering requirements: 20 x deposit and bonus

Weekly bonus wagering requirements: 25 x bonus

Minimum deposit required: R100 for monthly bonus/R1,000 for weekly bonus

Maximum cashout: R1,000
Join Europa Casino Here

  1. Thunderbolt Casino

Sister-site to Springbok Casino, the licensed Thunderbolt Casino offers a large collection of games by Realtime Gaming that can be played as instant play titles, downloadable casino or mobile.  This modern, intuitive site uses 128-bit SSL encryption to protect all personal and financial information. With an average payout of 96%, Thunderbolt Casino is a popular ZAR online casino for South African players.

Welcome Bonus Package:

  • R350 Free No Deposit Bonus to test the waters of real money play

Bonus: NDC350

Permitted games: iSlots unless otherwise state, 7 stud poker, bingo games, European slot poker, keno, pai gow poker.

Wagering requirements: 60 x bonus amount

Maximum cashout: R600

  • R10,000 Welcome Bonus across your first three deposits + one extra bonus, no deposit required.

1st deposit:  100% up to R2,500. Bonus code: FLASHMATCH1

2nd deposit:  125% up to R2,500. Bonus code: FLASHMATCH2

3rd deposit: 150% up to R2,500. Bonus code: FLASHMATCH3

4th deposit: No deposit needed. Free R2,500.

Wagering requirements: 30 bonus + deposit amount.

Minimum qualifying deposit: R25

Maximum cashout: None

Permitted games: All slots
Find the latest Thunderbolt Casino Coupons and bonus codes here: https://www.southafricancasinos.co.za/latest-thunderbolt-casino-coupons-bonus-codes.html
Join Thunderbolt Casino Here

  1. Casino Tropez

The Malta-licensed, Playtech-powered Casino Tropez is available for play on instant or mobile platforms. This is a very reputable online casino real money with many elements that make is attractive to South Africans: ZAR/ South African Rand supported as a currency, familiar local banking options, SA-friendly customer support and a great range of bonuses and promotions. One downside is that Casino Tropez does not offer a no-deposit free casino bonus.

Welcome Bonus Package:

  • R30,000 Welcome Bonus Package for All New South African players

First deposit: get a 100% match bonus up to R1,000 free.

Second deposit: get a 50% match up to R2,000 free.

Subsequent 27 deposits every Sunday: Get a 100% match bonus up to R1,000 weekly.

Wagering requirements: First two deposits – 30 x; Weekly deposits – 15 x deposit + bonus
Minimum qualifying deposit: R200
Maximum cashout: R1,000
Permitted games:  All games
Join Casino Tropez Here

  1. Yebo Casino

Yebo means Yes in Zulu and we were able to find a lot of ‘Yeses’ at this site: Yes to quality software by Realtime Gaming. Yes to over 200 exciting games such as slots and casino poker. Yes to licensing and regulation. Yes to weekly tournaments and non-stop promotions. Yes to a mobile-friendly online casino. And yes, of course, to a larger-than-life welcome bonus package and latest Yebo Casino Coupons and bonus codes

Welcome Bonus Package:

  • R350 No Deposit Bonus upon registration

Bonus code: NEW350

Permitted games: Slots and keno

Wagering requirements: 70 x bonus

Maximum cashout: R500

  • R12,000 Welcome Bonus across your first three deposits

1st deposit: 150% up to R2,250. Bonus code: WELCOME150

2nd deposit: 75% up to R3,750. Bonus code: WELCOME750

3rd deposit: 50% up to R6,000. Bonus code: WELCOME50

Minimum qualifying deposit: R50

Maximum cashout: 5 x deposit bonuses of 125% and more

Permitted games: multiple

Wagering requirements: 40 x bonus + deposit.
Join Yebo Casino Here

  1. Punt Casino

Combine your love of sports and online gambling with a sport-themed real money online casino at Punt Casino. Enjoy the full portfolio of RTG games s in a fun and informal atmosphere. Punt Casino ticks all the boxes when it comes to variety, security, customer support and responsible gambling. Below are the latest Punt Casino Coupons and bonus codes available to new players joining

Welcome Bonus Package

  • R200 Free No Deposit Bonus as an exclusive offer for players at SouthAfricanCasinos.co.za

Bonus code: NDC200

Permitted games: slots and keno

Wagering requirements: 70 x bonus

Maximum cashout: R500

  • R10,000 Welcome Bonus over your first three deposits.

1st deposit: 100% up to R3,500. Bonus code: WELCOME100

2nd deposit: 75% up to R2,500. Bonus code: WELCOME75

3rd deposit: 125% up to R4,000. Bonus code: WELCOME125

Wagering requirements: 40 x bonus + deposit

Minimum qualifying deposit: R50

Maximum cashout: 5 x deposit amount for bonuses of 125% or more

Permitted games: Multiple
Join Punt Casino Here

  1. Yeti Casino

Launched in 2017, Yeti Casino is a popular choice for South Africans. The Malta-licensed online casino is one of the only sites in SA to offer casino games by Novomatic, so that you have titles such as Book of Ra at your fingertips. Yeti Casino is fully compatible with all mobile devices, offers many ways to deposit and withdraw and is big on rewards. Below are the latest Yeti Casino Coupons and bonus codes available to new players joining

Welcome Bonus Package:

  • R200 Free No Deposit Bonus

Permitted games: Joker Pro or Starburst

Wagering requirements: 40 x bonus amount

Maximum cashout: R1,000

  • R3,333 Welcome Bonus + 77 Free Spins on your first deposit

Wagering requirements: 40 x bonus amount

Minimum qualifying deposit: R100

Maximum cashout: R50,000 per day

Permitted games: Any slot game
Join Yeti Casino Here

  1. Lucky Draw Casino

This relatively new online casino is operated by the experienced 5th Street Entertainment Group. It is licensed in Curacao and supports a hospitable gaming environment for South African players. Lucky Draw Casino games by Betsoft and Pragmatic Play can be played on your iPhone, Android, iPad and Desktop. Pay in ZAR or Bitcoin on a secure platform.

Welcome Bonus Package:

  • R450 No Deposit Bonus as a risk-free trial to enjoy the games for free

Permitted games: Betsoft + Pragmatic Play games

Wagering requirements: 20 x winnings + bonus

Maximum cashout: R1,000

  • 750% Match Bonus up to R75,000 + 110 Free Spins across your first three deposits

1st deposit: 200% match up to R20,000 + 30 free spins

2nd deposit: 250% match up to R25,000 + 50 free spins

3rd deposit: 300% match up to R30,000 + 30 free spins

Wagering requirements: 35 x bonus + deposit amount

Free spins: Valid on select slot games.

Maximum withdrawal: R1,000
Join Lucky Draw Casino Here

  1. Silver Sands Casino

Although this is an international online casino, South Africans fit right in at Silver Sands Casino. The site supports South African Rand and its possible to make deposits and withdrawals using popular SA banking methods. This modern-day site is a haven for over 300 top-notch games by Realtime Gaming, including plenty of progressive jackpot games at Silversands online casino south africa.

Welcome Bonus Package:

  • R300 Free No Deposit Bonus to without spending your own funds.

Coupon code: NDC300

Permitted games: All games unless otherwise stated

Wagering requirements: 60 x the bonus amount

Maximum cashout: 2 x bonus amount

  • R8,888 Welcome Bonus on your first three deposits

1st deposit: 100% up to R1,800. Bonus code: K3XTG

2nd deposit: 75% up to R3,000. Bonus code: TD8FH

3rd deposit:  50% up to R4,000. Bonus code: WWYMX

Wagering requirements: 10 x the bonus + deposit amount

Minimum qualifying deposit: R50

Maximum cashout: None

Permitted games: All, except blackjack, video poker, roulette, Pontoon, bingo, craps, war, baccarat and Sic Bo
Find the latest SilverSands Casino Coupons and bonus codes here: https://www.southafricancasinos.co.za/latest-silver-sands-casino-coupons-bonus-codes.html
Join SilverSands Casino Here

  1. FATBET Casino

This is another international-facing online casino South Africa that has a warm place in its heart for South African players. Fatbet Casino aces in everything from games (provided by vendors such as Betsoft and others), to non-stop tournaments, mobile support, online security features, complete transparency and of course support for Rands.

Welcome Bonus Package:

  • R500 No Deposit Bonus chip for new players
  • Coupon code: FATB500

Permitted games: All Games

Wagering requirements: 60 x

Maximum cashout: R250

  • R25,000 Welcome Bonus Package

1st deposit: 100% up to R10,000

2nd deposit: 100% up to R5,000

3rd deposit: 100% up to R10,000

Wagering requirements: 40 x bonus + deposit amount
Minimum qualifying deposit: R100
Join Fatbet Casino Here

  1. Winnerama Casino

Since 2018, Winnerama casino has been earning rave reviews among South African players. This is a multivendor site with some of the best of breed titles by groups such as Betsoft in the games lobby.  There are over 300 slots and other games to choose from.  Winnerama is also big on mobile compatibility, banking options and security.

Welcome Bonus Package:

  • R450 No Deposit Bonus exclusive to South African players

Permitted games: Betsoft + Pragmatic Play

Wagering requirements: 20 x winnings + bonus

Maximum cashout: R1,000

  • R75,000 Welcome Bonus Package

1st deposit: 200% up to R20,000 + 30 free spins

2nd deposit: 250% up to R25,000 + 50 free spins

3rd deposit: 300% up to R30,000 + 30 free spins

Wagering requirements: 35 x bonus + deposit amount

Minimum qualifying deposit: R100

Maximum cashout: R2,000 for free spins; no limit on other welcome bonuses.

Permitted games: non-progressive video slots, video poker, roulette, casino war, mini-baccarat, keno, Weed Whacker, blackjack.
Join Winnerama Casino Here

  1. Rich Casino

Enjoy a highly entertaining online gaming experience on a great looking platform. Rich Casino, a licensed site, is fully mobile compatible and supports ZAR and cryptocurrencies. Withdrawals are fast and secure. The site has a refreshingly different set of games suppliers and while slots dominate, there are some interesting bingo games and races.

Welcome Bonus Package:

  • R300 No Deposit Free Spins Offer, no bonus code required – Automatic Bonus

Permitted games: Slots only

Wagering requirements: 20 x winnings from free spins

  • R10,000 + Welcome Bonus

1st deposit: 200% up to R10,000

2nd deposit: 100% with no limit

3rd deposit: 100% with no limit

4th deposit: 100% with no limit

5th deposit: 175% with no limit

Wagering requirements: 35 x bonus + deposit

Permitted games: bingo, slots, video poker, roulette, casino war, mini-baccarat, blackjack
Join Rich Casino Here
ZAR Casino

With a name like ZAR Casino, there is no guessing why South Africans head to this Live online casino in droves. The site naturally supports SA Rand, as well as payment via Bitcoin and other currencies. All transactions are secure and 100% safe, with customer support available 24/7. The site has over 200 games to choose from, supplied by vendors such as Aristocrat, Saucify and Nucleus Games.

Welcome Bonus Package:

  • R500 Free No Deposit Bonus exclusive for SouthAfricanCasinos.co.za players

Bonus code: NDC500

Wagering requirement: 40 X

Max cashout: R500

Permitted games: Video slots and scratch cards from Booming, Betsoft, Wazdan, EvoPlayu, Fugaso and GS. No blackjack, roulette, poker.

  • 100% Welcome Bonus up to R15,000 + 100 free spins on your first deposit

Bonus code: Enter ZARWELOME on your first deposit

Wagering requirement: 40 x on match bonus + 40 x on winnings from free spins

Maximum cashout: None on deposit bonus; R100 from free spins.

Permitted games: On match bonus: All games; on free spins: Big Game slot
Find the latest ZAR Casino Coupons and bonus codes here: https://www.southafricancasinos.co.za/latest-zar-casino-coupons-bonus-codes.html
Join ZAR Casino Here

  1. African Grand Casino

This brand new casino targets only South African online gamblers and offers a great selection of Realtime Gaming titles. The African Grand Casino guarantees complete security through the use of 128-bit SSL encryption, making for a safe gaming platform on which to play the over 200 titles.

Welcome Bonus Package:

  • R500 Free No Deposit Bonus on sign up

Bonus code: GRAND500

Permitted games: All slots unless otherwise stated, 7 Stud Poker, bingo games, European slot poker, keno and Pai Gow Poker

Wagering requirements: 60 x bonus amount

Maximum cashout: R500

  • R10,000 welcome bonus across your first 5 deposits

Bonus code: WELCOME
Find the latest ZAR Casino Coupons and bonus codes here: https://www.southafricancasinos.co.za/latest-zar-casino-coupons-bonus-codes.html
Join African Grand Casino Here

South Africa Online Casino FAQs

Q: What Is the Best Welcome Bonus at a South African Online Casino?

Casino Tropez has a massive welcome bonus of R30,000 spread over the player’s first 29 deposits! This is a very generous offer. Unfortunately, Casino Tropez doesn’t offer a free no deposit casino bonus so that players can test-drive the site first. There are many other South African facing online casinos who offer free no deposit bonuses or online casino free spins, such as Springbok Casino or Thunderbolt Casino.

Q: Is Online Gambling Legal in South Africa?

There are many types of online gambling options available for South African players.  According to South African gambling legislation, online casinos aren’t allowed to be located within South Africa’s borders. However, most online casinos are located offshore and millions of players frequent these sites every month without any worry. Read more about the South African Online Gambling Law here https://www.southafricancasinos.co.za/south-african-online-gambling-law.html

Q: Can I Play at Online Casinos in Rand (ZAR)?

A: Yes you can. Playing in Rands means you avoid expensive conversion fees. You play in a currency that you’re familiar with and you can deposit and withdraw your funds without any hassle.

Conclusion

We analyzed 14 of the best South African online casinos and provided players with an extensive guide on the most updated welcome bonus packages in the industry today. We broke down the information so that players know exactly what is expected from them.

We encourage players to check each and every site that is mentioned in this report. Promotions change from time to time, and you may even find improved offers when you pay them a visit. The other alternative is to visit SouthAfricanCasinos.co.za and find out about the latest offers available.

Source: https://www.southafricancasinos.co.za/

Responsible Gambling Reminder

We trust that you are a responsible gambler who is aware of the risks involved. Online casino gambling should be a fun pastime and you should always remember that the casino has an edge. Don’t chase your losses and don’t think that gambling is a quick-fix to financial problems.

If you think that you need help with a gambling problem, however big or small, assistance is available through the South Africa Gambling Helpline at 0800 006 008.

About SouthAfricanCasinos.co.za

SouthAfricanCasinos.co.za is the ultimate online casino and gambling guide, perfectly customized for South African players. It provides trusted, unbiased and updated recommendations for the best online casinos, online casino South Africa no deposit, real money slots and mobile casinos with ZAR banking options for the local market.

SouthAfricanCasinos.co.za provides exclusive free casino bonus deals.  Using the guide’s 10 step evaluation process, every single South African online casino is carefully vetted and ranked. Only the best are listed on the website. The guide is clear, comprehensive and neutral.

SouthAfricanCasinos.co.za is your guide to mobile casinos in South Africa, real money casinos, free casinos and more. You’ll find information about banking methods and online casino bonuses and promotions.

Share
Related Stories
Image
20-October-2023

Geodrill Wins ESG Award for African Taekwondo Athletes’ Support

An international exploration drilling company, Geodrill Limited, has won the 2023 Australia-Africa Minerals and Energy Group (AAMEG) Award for Established ESG Leader for a Resources Services company. The award was due to their commitment and funding to the LVOLUTION ACADEMY of Cote d’Ivoire and the running of its activities. The Ivorian mining community memorialized the prize at an industry event on October 13 in Abidjan. Geodrill and other sponsors, including Endeavour Mining, X&M Suppliers, Foraco, Koulou Gold Corp, Sotici, Energold, and IDC, have been proud supporters of LVOLUTION ACADEMY founded to promote education, training, and social integration of underprivileged youth,

Image
10-November-2023

Study Reveals Worst-Behaved Premier League Team

A new study by betting comparison site punters.pub has revealed the Premier League teams who received the most yellow and red cards over the last five seasons. The research ranked the 12 teams that have been ever-present in the Premier League since the start of the 2018/19 season, allocating them an average disciplinary score per game. The scoring system here dictates that a yellow card equates to one point, and a red card to two, therefore the teams with the highest score per game have committed the most cardable offences in the past five seasons. Manchester United are the club

Image
16-November-2023

Golfers Warm up for Forthcoming Ikeja Golf Club Championship

By Modupe Gbadeyanka Momentum is already gathering for the forthcoming 2023 Ikeja Golf Club Championship taking place between November 20 and November 26. No fewer than 200 golfers are expected to take part in the prestigious event, which brings together players from across the country. Speaking during a press conference ahead of the event, the club captain, Mr Sina Akinyemi, said this year’s edition coincides with the organisation’s 55th anniversary. “The Ikeja Golf Club is at the heart of the city of Lagos. We are set to host our annual pinnacle event, the Golf Club Championship, between November 20 and

Image
17-November-2023

Premier League Deducts 10 Points from Everton After FFP Verdict

By Adedapo Adesanya The Premier League has deducted 10 points from Everton after it found the club guilty of breaching Premier League financial fair play rules. The deduction is the biggest points deduction in the competition’s history and will see the Merseyside club drop 19th position, two points from safety. Everton, who had denied wrongdoing, believe a sporting punishment for an accountancy matter is disproportionate and inappropriate and have told the league they intend to appeal. Leeds, Leicester and Burnley have previously written to Everton’s prospective new owners, 777 Partners, warning they intended to sue for damages in the event

More Stories
Image
25-June-2021

IFAD Budgets N56m to Develop Agriculture in Anambra

By Adedapo Adesanya The International Fund for Agricultural Development (IFAD) has budgeted N56 million for the Value Chain Development Programme (VCDP) for this year’s farming season in Anambra State. Speaking at the commencement of the Value Chain Input Distribution Programme in Orumba South and Awka North Local Government Areas of the state on Friday, the Programme Coordinator, Mr Nnamdi Agwuncha, said the inputs distributed include certified rice seeds, cassava stems, NPK and Urea fertilisers and agro-chemicals, such as herbicide and pesticide. Mr Agwuncha said the programme was designed to ensure that farmers got and used quality and improved agro-input to

Image
16-October-2019

Lagos to Approach Capital Market for N100bn Bond

By Modupe Gbadeyanka Governor Babajide Sanwo-Olu of Lagos State has expressed the intention of the executive arm of government to borrow the sum of N250 billion for some critical projects in the state. Mr Sanwo-Olu transmitted a letter to the legislative arm of government yesterday, seeking its approval for the money, which has a fixed rate bond of N100 billion from the capital market and an internal loan of N150 billion. In the letter read on the floor of the Lagos State House of Assembly by the Clerk, Mr Sani Azeez, the Governor explained that his administration intends to use

Image
06-September-2017

Andersen Appoints Leonardo Mesquita to Head Latin America

By Dipo Olowookere Mr Leonardo Mesquita has been announced by Andersen Global as its Regional Managing Director for Latin America. Leonardo is currently the Managing Partner for Andersen Tax in Brazil. With this additional role, he will also be focusing on specific strategies to support the region as it expands. Leonardo has more than 30 years of experience in tax consulting and advisory services. “Leonardo has a unique ability to work with others in a collaborative manner, but also demonstrates and can communicate his views forcefully,” said Global Chairman and Andersen Tax LLC CEO, Mark Vorsatz. “I am confident he

Image
18-September-2021

Crude Oil Slides as US Output Returns Gradually

By Adedapo Adesanya Crude oil fell on Friday as energy companies in the Gulf of Mexico restarted production after back-to-back hurricanes in the region clamped down on output in the United States. At the market yesterday, the Brent crude futures fell by 33 cents or 0.44 per cent to settle at $75.34 per barrel, while the US West Texas Intermediate (WTI) crude futures fell by 64 cents or 0.88 per cent to settle at $71.97 a barrel. Despite the bearish outcome, the Brent reported a weekly gain of 3.3 per cent, while the US crude benchmark was up by 3.2

Image
31-January-2023

Zoho Upgrades Bigin to Redefine Small Business CRM Market

By Modupe Gbadeyanka A leading global technology company, Zoho Corporation, has upgraded its customer relationship management (CRM) solution for small businesses, Bigin, with new features for better performance. According to the firm, the platform has been fortified with new capabilities like team pipelines, toppings, and developer centres, which will allow users to manage all types of customer operations. It is believed that the upgrade will redefine the small business CRM market as it would provide small and micro businesses with the tools and insights they need to maintain and grow meaningful and high-value relationships with customers in a challenging economic

Image
18-September-2021

SweepSouth Connect Launches in Nigeria

By Modupe Gbadeyanka An online platform that connects people with reliable and vetted service professionals, SweepSouth Connect, has commenced operations in Nigeria. The innovative on-demand connect platform allows customers the flexibility of booking a pre-vetted household or outdoor service professional at any time, providing a convenient and reliable connection, underpinned by a sense of trust. “SweepSouth Connect is introducing a unique approach to on-demand services that are driven by passion, technology and continually learning from useful data. “We are committed to making a positive impact on the lives of domestic workers, trusted services providers and the cleaning industry in Nigeria,”

Image
04-August-2019

Christianity, Stocks, Business: In Nigeria, Poverty is the Greatest Shame

By Nneka Okumazie For Nigeria, prosperity is a measure of success and poverty is a measure of failure. The authority of money in Nigeria is – mostly – greater than integrity, passion, vision, honest work, patience and contentment. Most conflicts are bifurcated between money and lack. The side of resources is forgiven or correct. The side of lack is judged, shamed and isolated. Many prefer other problems to money problems. Some would go any length to prevent – money – shame. Generally, a society that everything equals money is unlikely to prioritize collective development. There’s a place for integrity, talent,

Image
18-September-2018

Stanbic IBTC Urges Students to Imbibe Savings Culture

By Dipo Olowookere No fewer than 600 students of Covenant University, Ota, Ogun State attended a financial literacy forum was organised by Stanbic IBTC Bank in partnership with Creative Youth Community Development Initiative, a Wole Soyinka Foundation. The event, which took place on Wednesday, September 12, 2018, fitted perfectly into the financial literacy initiative of the Central Bank of Nigeria (CBN) designed to encourage children and young adults in schools to understand quite early in life the rudiments of money and its uses. This is part of efforts to impact financial knowledge on Nigerian youths. During the programme, participants were

Ad
Ad
Recent Stories
Image
02-December-2023

Strong Inflationary Pressures Keep Nigeria’s Private Sector PMI Down

By Modupe Gbadeyanka Strong inflationary pressures in November further negatively impacted companies in Nigeria, with new orders and output both falling as customers were either reluctant or unable to pay higher charges. Purchase prices rose at the fastest pace in almost two years amid exchange rate weakness and higher costs for fuel and materials. According to the latest Purchasing Managers’ Index (PMI) from Stanbic IBTC, business conditions remained under pressure, scoring 48.0 points last month compared with the 49.1 points it garnered in October 2023. Readings above 50.0 signal an improvement in business conditions, while readings below 50.0 show deterioration.

Image
02-December-2023

Coker-Odusote: 100 Days at the Helm of NIMC

By Walter Duru, Ph.D It was Albert Einstein who once said that “setting an example is not the main means of influencing another, it is the only means.” That sentiment expressed by Einstein is the primary essence behind the theory of transformational leadership, which requires passion, charisma, and the ability to motivate others. Transformational leaders are usually very authentic, emotionally intelligent, great listeners, results-focused, visionary, and self-aware. In just 100 days at the helm of the National Identity Management Commission (NIMC), Engr. Abisoye Coker-Odusote has ushered in a new era of transformational leadership, leaving an indelible mark on the organization. Her eventual confirmation

Image
02-December-2023

Partnerships for Progress: Collaboration Between Banks and Fintechs is the Future of Banking in Africa

By Ike.S Anison Historically, the formal banking sector’s penetration in Africa has been relatively low. And, while there has been significant improvement in this area in recent years, there is still a significant portion of the population on the continent who are unbanked or lack access to financial services. According to the World Bank, approximately 350 million adults in sub-Saharan Africa are still unbanked, accounting for 17% of the 2 billion global unbanked population. This has largely been due to a struggle to tap into the continent’s low-income segment, the widest proportion of the population. Consumers within this market feel

Image
02-December-2023

Naira Plunges 11.4% to N927/$1 at Official Market as FX Demand Rises

By Adedapo Adesanya The Naira started the first trading session in the last month of 2023 on a negative note after it depreciated against the Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM), which is the official FX window, by 11.4 per cent or N94.87 on Friday, December 1, closing at N927.19/$1, in contrast to Thursday’s exchange rate of N832.32/$1. The December rush for forex contributed to the weakening of the domestic currency in the spot market yesterday, as the supply of foreign currency could not meet what customers needed. Data showed that the value of FX transactions recorded

Image
02-December-2023

Newrest, FrieslandCampina, Acorn Drive 0.14% Gain at Unlisted Stock Market

By Adedapo Adesanya The trio of Newrest Asl Plc, FrieslandCampina Wamco Nigeria Plc, and Acorn Petroleum Plc made the NASD Over-the-Counter (OTC) Securities Exchange appreciate by 0.14 per cent on Friday, December 1. The three gainers pressed down the 8 Kobo loss reported by UBN Property Plc, which closed the trading session at N1.52 per unit compared with the preceding day’s value of N1.60 per unit. During the trading day, Newrest Plc gained N1.46 to close at N16.10 per share compared with Thursday’s closing price of N14.64 per share, FrieslandCampina Wamco Plc moved up by 60 Kobo to end the

Image
02-December-2023

Oil Falls on Worries About Voluntary Supply Cuts

By Adedapo Adesanya Oil slumped by more than 2 per cent on Friday as traders showed scepticism about the depth of supply cuts by the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) as well as concerns about sluggish global manufacturing activity. Brent crude went down by $1.98 or 2.45 per cent to close at $78.88 a barrel as the US West Texas Intermediate (WTI) crude dropped $1.89 or 2.49 per cent to sell for $74.07 a barrel. For the week, Brent posted a decline of about 2.1 per cent, while WTI lost more than 1.9 per cent.

Image
02-December-2023

Sanwo-Olu Assures Businesses More Incentives, Commissions New Godrej Factory

By Modupe Gbadeyanka Business owners in Lagos have been assured of more incentives by the state governor, Mr Babajide Sanwo-Olu, who added that this is part of his administration’s commitment to reforms aimed at improving the ease of doing business and enhancing investment opportunities. Speaking at the commissioning of the newly-built wet hair production factory of Godrej Nigeria Limited, the Governor said his government would continue to pursue actions that would eliminate red tapes and regulatory impediments hindering the growth of businesses in the state, thereby demonstrating his willingness for continued collaboration with the private sector to improve the livelihood

Image
02-December-2023

Nigerian Exchange Begins December With 0.08% Growth

By Dipo Olowookere The Nigerian Exchange (NGX) Limited commenced the first trading session in December 2023 on a bullish note, with a marginal growth of 0.08 per cent. Sustained buying pressure kept Nigerian stocks in the positive territory, extending the dominance of the bulls on Customs Street, though the turnover waned. Business Post observed that investors cherry-picked equities in the banking and the energy sectors during the session, leaving them rising by 1.14 per cent and 0.05 per cent, respectively. However, the insurance counter lost 1.10 per cent, the consumer goods index depreciated by 0.08 per cent, and the industrial

Image
01-December-2023

CBN Orders Banks to Place PND on Accounts Without BVN, NIN

By Adedapo Adesanya All bank accounts without Bank Verification Number (BVN) and National Identification Number (NIN) will from April 2024 have “Post No Debit (PND)” placed on them. This is the latest directive of the Central Bank of Nigeria (CBN) to financial institutions operating in the country. In a circular issued by the apex bank and sent to all deposit money banks (DMBs) on Friday evening, the CBN said all the BVN or NIN attached to and/or associated with AL accounts/wallets must be electronically revalidated by January 31, 2024. In the circular seen by Business Post, the central bank said

Image
01-December-2023

LCCI Demands Transparency in CBN Recapitalisation Plan

By Adedapo Adesanya The Lagos Chamber of Commerce and Industry (LCCI) has urged the Central Bank of Nigeria (CBN) to strengthen its banking supervision to prevent some crucial Nigerian banks from failing due to its planned recapitalisation. Last Friday, the Governor of CBN, Mr Olayemi Cardoso, said the CBN would be directing banks to increase their capital base to serve a $1 trillion economy to be achieved by 2030. In a statement signed by Mrs Chinyere Almona, the director general of LCCI, the chamber said, “On recapitalisation of banks, we commend the plan of the apex bank to review the