The International Monetary Fund (IMF) has advised the Nigerian government to establish a robust regulatory framework for cryptocurrency trading, recommending that global crypto trading platforms be registered or licensed in Nigeria and subject to regulatory requirements.  This move aims to ensure that cryptocurrency transactions are conducted securely and transparently, minimising money laundering risks, terrorist financing, […]

Stakeholders in the blockchain industry have blamed Nigeria’s cryptocurrency trading challenges on the policies of the Central Bank of Nigeria (CBN) and the actions of dishonest players. According to them, the clampdown on Crypto could now allow dishonest people who traded cryptocurrencies to change currencies and hurt the economy even more. It is believed that […]

The second-biggest telecom operator in Nigeria, Airtel Africa, has revealed severe financial losses as a result of currency devaluations in a number of its major markets, most notably Malawi and Nigeria. For the fiscal year that ends on March 31, 2024, these losses amounted to an astounding $1.7 billion in derivative and foreign exchange losses. […]

The Startupper Challenge, which supports companies in Nigeria and around Africa, has its 2024 edition underway, thanks to TotalEnergies Nigeria.  The 100th anniversary of TotalEnergies is being celebrated with this year’s edition, which will assist 100 entrepreneurs in 32 African nations.  Young entrepreneurs with startups or business creation projects under three years old, ages 18 […]

Phelan Green Energy, a South African powerhouse in the renewable energy sector, is set to construct Peru’s inaugural green hydrogen plant—a venture that promises to revolutionise the nation’s energy landscape and propel it toward a sustainable future. With an audacious investment of approximately $2.5 billion, Phelan’s vision extends beyond mere infrastructure. It’s about harnessing the […]

Apple recently issued an apology following backlash over an advertisement for its latest iPad Pro model, which depicted the destruction of musical instruments and symbols of creativity. The controversial ad, “Crush,” was criticised for its insensitivity and departure from Apple’s traditional brand image. Ad Age magazine reported Apple’s apology, quoting the iPhone maker’s acknowledgement of […]

SBM Bank Kenya recently welcomed Bhartesh Shah as its new Chief Executive Officer (CEO), succeeding Moezz Mir. Shah brings over two decades of extensive experience in the financial services industry, showcasing expertise in various banking domains across East Africa, Singapore, and the United Kingdom. Notable milestones and achievements mark Shah’s professional journey. He holds an […]

iProcure, a Kenyan agritech startup known for bridging the gap between agricultural product distributors and manufacturers, has recently filed for bankruptcy.  The company, which had previously raised a significant $17.2 million in funding, was in dire financial straits, leading to this unfortunate outcome. iProcure’s journey to bankruptcy began with its inability to secure additional capital […]

Meta, the company that owns WhatsApp, made public its plans to revamp the look of its platform on May 9, 2024, to maintain an air of modern simplicity and friendliness.  To achieve this, the company has implemented numerous changes, the most prominent of which is a new colour palette. In addition to a more uniform […]

In a significant reaction to the federal government’s cyber security levy, the Trade Union Congress of Nigeria (TUC) has described the levy as unreasonable and vowed to protest against it. Recall that the Central Bank of Nigeria (CBN), in a circular to banks, imposed a 0.5 percent cybersecurity levy on almost all electronic transactions. The […]

Nigerian authorities have vehemently denied allegations by Binance’s CEO, Richard Teng, accusing unnamed officials of soliciting a $150 million cryptocurrency bribe.  The Nigerian Information Ministry spokesperson, Rabiu Ibrahim, described the claims as baseless and an attempt by Binance to divert attention from the criminal charges it faces in Nigeria. Binance and two executives are embroiled […]

The Safaricom Investment Co-operative (SIC) has announced the appointment of Churchill Ochieng’ as its new Chief Executive Officer (CEO), effective immediately. With over 25 years of experience spanning leadership, cash flow management, corporate development, and brand management, Ochieng’ brings a wealth of expertise to his new role. In a press release on Thursday, the SIC […]

Swypex, an Egyptian fintech startup, has recently launched its all-in-one financial services platform for businesses following a successful $4 million seed investment round.  The renowned venture capital fund Accel led the investment, which is making its first fintech investment in the region. Egyptian businesses face several challenges when it comes to financial management. Many rely […]