Visa to Acquire Swedish Fintech Tink for €1.8bn

By Precious Olisa A Cameroon-based company, Koree, has emerged as the winner of the 2023 edition of the Ecobank Fintech Challenge, going home with a prize of $50,000. The firm was announced as the winner of the contest by the panel of judges during the competition’s grand finale at the bank’s headquarters at the Pan African Centre in Lomé, Togo. The organisations made it to the final from an initial pool of over 1,400 fintechs from 64 countries, underscoring the significant growth in popularity of the competition since its inception six years ago, as well as the wealth of innovation

By Adedapo Adesanya The newly appointed Executive Vice Chairman/CEO of the Nigerian Communications Commission (NCC), Mr Aminu Maida, has emphasized a need to focus on efforts that align with the Strategic Blueprint of the Minister of Communications, Innovation and Digital Economy, Mr Bosun Tijani, and the digital economy drive of President Bola Tinubu. Mr Maida, who resumed duty on Tuesday, met with the Senior Management Staff of the commission where he highlighted his focus and emphasized all targets under his administration. Mr Maida started his day by taking a tour of the agency’s headquarters and held a productive meeting with

By Kehinde Ogundare In recent years, the global economy has faced and continues to face numerous challenges, including a pandemic, war, climate change, and inflation. Businesses have had to adapt and find new ways of working to tackle these challenges. Nigeria is no exception. According to the National Bureau of Statistics of Nigeria, the annual inflation rate accelerated to 24.08% in July 2023, the highest since September 2005. This has affected everything from electricity tariffs to transportation, all crucial to the performance of Nigerian enterprises. Fortunately, by adopting the right technologies and using them the right way, enterprises can ensure that they’re

By Adedapo Adesanya The Minister of Communications, Innovation, and Digital Economy, Mr Bosun Tijani, has announced a N1 billion partnership between the ministry and IHS Towers, one of the largest independent communications infrastructure firms in the world, to establish the 3 Million Technical Talent (3MTT) Learning Community. The ministry earlier this month released a 31-page policy document titled Accelerating our Collective Prosperity through Technical Efficiency which outlined plans to boost the country’s economy through the use of technology. It said it would collaborate with other ministries and parastatals, including private sector stakeholders to drive opportunities for startups to facilitate the

By Modupe Gbadeyanka The Voice Nigeria Season 4 will experience a smooth and enjoyable ride with the announcement of JAC Motors (Elizade JAC Autoland) as the Official Automobile Partner. On Friday, February 18, 2022, registration for the popular music talent show commenced, giving room for budding acts from 18 to 50 years residing in Nigeria to partake in the blind auditions. The inclusion of JAC Motors as one of the sponsors will spice up the programme as the winner of the prestigious show will cruise home with a third-generation state-of-the-art vehicle from the company. This was confirmed by the organisation

By Modupe Gbadeyanka Some unnamed banks have been shortlisted by the Debt Management Office (DMO) to manage the proposed plan by the Federal Government to sell $1 billion Eurobond before the end of 2016. Reuters reports that a senior official, who begged for anonymity, however disclosed that the FG was yet to make a final decision on this. “The names have been picked but it has to go through government process,” he told Reuters. “The issue will happen this year” though no bank has been appointed yet to arrange the issue. But already, according to Reuters, the list has been

By Kester Kenn Klomegah Russia and Egypt agreed finally to resume regular flights to Cairo, Hurghada and Sharm El Sheikh from August 9 after several negotiations and security inspections carried out for more than five years. On the other hand, Egypt is particularly expecting to raise its tourism among holidaymakers throughout the various cities in Russia. Egypt’s resorts of Sharm El Sheikh and Hurghada are highly popular for foreign vacationers, not only Russians but also tourists from Western, European, Asian and African countries. Egyptian Ambassador in Moscow Ehab Nasr said that the return of Russian tourists to Sharm el-Sheikh and

By Investors Hub European stocks are trading mixed on Thursday as trade tensions persisted and the dollar rally lost steam in light of the dovish Fed minutes. While the French CAC 40 Index has inched up by 0.1 percent, the German DAX Index is down by 0.2 percent and the U.K.?s FTSE 100 Index is down by 0.4 percent. On the data front, official data showed German GDP grew 0.3 percent sequentially in the first quarter, slower than the 0.6 percent expansion seen in the previous quarter but matching the provisional estimate published on May 15th,. Another survey showed that

By Modupe Gbadeyanka Two newly constructed facilities have been officially unveiled in Nigeria by the AIDS Healthcare Foundation (AHF) in partnership with the Benue State Ministry of Health and Benue State AIDS Control Agency (BENSACA). The AHF is the largest non-profit HIV/AIDS organization in the world, which provides health care to more than 690,000 patients in 38 countries, including the US, throughout Africa, Latin America/Caribbean, Europe and Asia. In Nigeria, AHF has been operating in the country since 2011, when it started providing free HIV/AIDS services in Gbajimba General Hospital in Benue State. Today, AHF Nigeria has expanded from one

By Dipo Olowookere A profit before tax of N9.5 billion has been declared by Sterling Bank Plc for the year ended December 31, 2018. This is higher than the N8.1 billion achieved in the 2017 financial year. On Friday, the lender posted its financial scorecard for 2018 and an analysis showed that the profit after tax appreciated to N9.2 billion from N8 billion declared in the previous year. A total of N125.2 billion was made as interest income during the year under review, higher than N110.3 of the previous year. The amount raked from fees and commission income was N15.2

By Modupe Gbadeyanka Business Post has received visuals from the pro-President Muhammadu Buhari protest taking place in Abuja. The demonstrators are out to show solidarity to the President, who is presently away in London for vacation and medical check-up. The #IStandWithBuhari protesters converged at the Unity Fountain Park in Abuja. They have used the occasion to express their support for Mr Buhari and his government, which has been under attack recently. Here are pictures from the protest.

**Says N1.5trn Spent on Power in Two Years By Adedapo Adesanya Nigeria has spent over N1.5 trillion in the last two years in its bid to revamp and strengthen the power sector in the country, Vice President, Mr Yemi Osinbajo, has disclosed. Mr Osinbajo, who spoke through the Minister of State for Power, Mr Saleh Mamman, at the premises of Kainji Hydro power plant in Niger State, said the President Muhammadu Buhari-led administration was commitment to alleviating the electricity problems faced by Nigerians. According to him, government is putting in place policy reforms that will guarantee access to affordable electricity for