Nvidia Joins Exclusive $1trn Market Cap Club 

By Adedapo Adesanya Website hosting infrastructure company, WhoGoHost, has acquired SendChamp, a Nigerian cloud communications startup that powers online messaging for African businesses to deepen its value offering for its customer base. The deal sum was not announced, but the acquisition is part of WhoGoHost’s strategic plans to evolve from domain-hosting to serve businesses and institutions in the African market. According to a statement, SendChamp will continue to operate as an independent product as it transitions to new ownership. However, in the near future, its products and services will become accessible via the WhoGoHost integrated platform. The reason for this

By Adedapo Adesanya Nigeria plans to increase the net contribution of the telecommunications sector to the gross domestic product (GDP) by 22 per cent by the end of 2027. This is part of efforts announced by the Minister of Communications, Innovation and Digital Economy, Mr Bosun Tijani, in the ministry’s 31-page Strategic Blueprint document titled Accelerating our Collective Prosperity through Technical Efficiency, seen by Business Post. In the document, the ministry noted that “As telecommunications continues to evolve in line with new technology and associated opportunities, it is critical to revamp our national approach to account for changing imperatives and

By Aduragbemi Omiyale Young Nigerians living in Abuja who intend to deepen their knowledge in digital education now have a place to go, GoMyCode’s hackerspace. The facility would be used to train and transforms participants into skilled professionals, ready to navigate the digital age. It is the fifth hackerspace the company is establishing in Nigeria, solidifying its footprint in the country. Similar facilities are already in Yaba, Ikeja, Festac and Lekki, all in Lagos. The transformative mission of GoMyCode’s is to democratise tech education and empower thousands of students in the country, equipping them with critical digital skills to support

By Modupe Gbadeyanka Africa Finance Corporation (AFC) says it has issued a $500 million 7-year Eurobond, which is its second benchmark issuance under the $3 billion Global Medium Term Note Programme. The senior, unsecured Eurobond carries a coupon of 3.875 percent and was priced to yield at four percent, maturing in April 2024. AFC is only the second African development finance institution to issue a Eurobond with maturity longer than five years, a reflection of the firm’s strong credit standing and its ability to match-fund medium to long-dated infrastructure investments. The corporation said on Tuesday in a statement that the

By Dipo Olowookere Business Post has compiled a list of companies quoted on the Nigerian Stock Exchange (NSE) having their Annual General Meetings (AGMs) in the month of July 2019, which commenced yesterday. There are 17 AGMs fixed for this month and an Extraordinary Meeting (EGM). Investors look out for these meetings because for firms which declared dividends, it is at these AGMs the cash payment are approved by shareholders in attendance. Also, investors use the opportunity to ask questions from the board and management and possibly chip in how things can be improved upon so as to have more

By Adedapo Adesanya The oil market improved on Thursday, rising for a third month in a row on expectations that cuts by the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) led by Saudi Arabia would continue through the end of 2023. Brent was up during the last trading session of August by $1 or 1.2 per cent to $86.86 a barrel, and the US West Texas Intermediate appreciated by $2 or 2.5 per cent to $83.63 a barrel. Analysts expect Saudi Arabia to extend a voluntary oil production cut of 1 million barrels per day into October,

By Dipo Olowookere Cautious trading weakened the performance indices of the Nigerian Exchange (NGX) Limited by 0.06 per cent on Tuesday as investors watch the political scene ahead of this weekend’s presidential election. It was observed that most of the sectors of the bourse closed lower during the session except the energy counter, which gained 0.28 per cent. However, it could not lift the stock market when trading activities for the session were brought to an end by 2:30 pm, as the banking index shed 0.38 per cent, the insurance space fell by 0.22 per cent, and the consumer goods

By Modupe Gbadeyanka To serve the banking and pension needs of its current and prospective clients in the Lekki Free Trade Zone (LFTZ), Ibeju-Lekki axis of Lagos State, Stanbic IBTC Bank Plc has opened a new branch there. This new branch, according to the chief executive of Stanbic IBTC Holdings Plc, Mr Demola Sogunle, will provide quality financial services to industries, corporates and individuals in the LFTZ region. “As a forward-thinking financial institution, we have opened a branch to make our services available to individuals in the Ibeju-Lekki axis because we expect economic activities to increase within the area. “We

By Adedapo Adesanya President Muhammadu Buhari on Tuesday launched the Eastern railway rehabilitation project. The Eastern corridor is a narrow-gauge rail track stretching from Port-Harcourt, Rivers State, through the South-East, North Central and North-East, terminating in Maiduguri, the Borno state capital. With a total of 61 stations and passing loops, the project has a contract timeline of 36 months. It was designed for a maximum speed of 80km/h on the mainline as well as 60km/h on the branch line. The China Civil Engineering Construction Corporation (CCECC) is also handling the project like it did with other rail projects in the

By Dipo Olowookere The engagement of Prince Henry of Wales to his lover, Ms Meghan Markle, has been announced by the Kensington Palace. A statement issued on Monday, November 27, 2017, disclosed that both lovers will hold their wedding next year. The statement, titled ‘His Royal Highness Prince Henry of Wales and Ms Meghan Markle are Engaged to be Married,’ said Prince Harry and Ms Markle “became engaged in London earlier this month.” “His Royal Highness, the Prince of Wales is delighted to announce the engagement of Price Harry to Ms Meghan Markle. “The wedding will take place in Spring

By Dipo Olowookere The Nigerian Exchange (NGX) Limited appreciated by 0.12 per cent on Wednesday amid buying interest in banking stocks and others. Analysis showed that the banking index grew during the session by 0.22 per cent, the energy counter appreciated by 0.08 per cent, and the consumer goods sector improved by 0.05 per cent. However, the insurance counter witnessed a 0.14 per cent loss, as the industrial goods sector remained unchanged at the close of transactions. Business Post reports that when it was 2:30 pm after the market closed for the session, the All-Share Index (ASI) was up by