NAFDAC sachet alcohol ban threatens 500,000 jobs- Unions

Business a.m   The Food Beverage and Tobacco Senior Staff Association (FBTSSA) and the National Union of Food Beverages and Tobacco Employees (NUFBTE) have expressed serious concerns about the Nigerian government’s ban on sachet alcohol, warning that the move could jeopardise up to 500,000 jobs.   The assoociations, in a press statement, argued that the […]

PwC finds $900bn dead capital trapped in Nigerian real estate 

Beyond COVID-19: PwC points to strategic priorities insurers should adopt for a post crises world

Onome Amuge PricewaterhouseCoopers Nigeria (PwC), recently estimated that a staggering $900 billion worth of dead capital is tied up in residential real estate and agricultural land in Nigeria. This includes the federal government’s abandoned property, estimated at N230 billion. The professional services network, in a new report titled “Nigeria Economic Outlook: Seven Trends That Will […]

Zenith Bank to finance more aircraft after Ibom Air, Airbus deal 

Zenith Bank  announces  retirement of  Ahmed, Olisa as executive directors

Sade Williams/Business a.m. Zenith Bank, one of Nigeria’s systemically important banks, has committed to financing more aircraft purchase deals following the successful outcome of its involvement in the acquisition of an Airbus A220 aeroplane by Ibom Air from manufacturer Airbus.   The commitment was made by Ebenezer Onyeagwu, group managing director and chief executive officer, […]

Fidelity Bank boosts Nigeria’s gas revenue with financing of Temile Development Company’s new LPG carrier

Ben Eguzozie     L–R: Alfred Temile, chairman/CEO, Temile Development Company Limited; his wife, Anita Temile; Mele Kyari, group chief executive officer, Nigerian National Petroleum Company Limited (NNPC Ltd); Esitmbom Ekpo, wife of the minister of state for petroleum resources (gas); Ekperikpe Luke Ekpo, minister of state for petroleum resources (gas); Nneka Onyeali-Ikpe, managing director/CEO, […]

Airtel Africa eyes $100m share buy-back amid currency devaluation headwinds

Airtel Africa earmarks $750m to revamp mobile money market

Joy Agwunobi Airtel Africa has announced a share buyback worth up to $100 million as part of its plans to return value to shareholders. This follows the company’s strong performance in the results for the nine months ending December 31, 2023. Despite strong underlying growth, Airtel Africa’s revenue in naira was negatively impacted by the […]

KoinKoin, SR FINANZMANN secure $2m to expand corporate FX platform

KoinKoin, SR FINANZMANN secure $2m

Business a.m Two fintech startups, KoinKoin and SR FINANZMANN, have announced a combined $2 million in funding from private investors, a major boost for their corporate over-the-counter (OTC) business for foreign exchange and digital assets.  An official statement to this effect, seen by Business a.m, disclosed that the funding will be used to drive the […]

FBN Holdings  appoints Otedola as new chairman

Business a.m FBN Holdings Plc, one of Nigeria’s largest financial institutions, has appointed Olufemi Peter Otedola as the new Chairman of its board of directors.  Otedola’s appointment, effective January 31, 2024, follows the recent resignation of Ahmad Abdullahi from the board of directors. In a recent corporate filing with the Nigerian Exchange Limited (NGX), FBN […]

SBC, Zenith Bank, UNIDO join forces to train 80 SMEs

Cynthia Ezekwe Seven-Up Bottling Company (SBC), a soft drinks manufacturer in Nigeria, in partnership with Zenith Bank and United Nations Industrial Development Organisation (UNIDO), has trained 80 Small and Medium Enterprises (SMEs) in the country through its scale-up boot camp. The bootcamp tagged  ‘Dream Big, Scale Bigger’ was a two-day workshop designed to empower chief […]

Mastercard, Boost alliance to drive digital transformation for SMEs in Africa

Mastercard, Cellulant partner to usher Africans into global digital commerce market

Joy Agwunobi Mastercard has announced a partnership with Boost, a B2B commerce platform, to enable digital payment wallets and embedded supply chain finance for small businesses in the Fast-Moving Consumer Goods (FMCG) sector in Africa.   The collaboration is expected to have a significant impact on the FMCG sector in Africa, which is dominated by small […]

Ecobank’s MySME Growth Series to train over 1 million SMEs in Nigeria

Joy Agwunobi Ecobank Nigeria has launched a new initiative, the MySME Growth Series, aimed at empowering small and medium-sized businesses in the country. The initiative will consist of training sessions for over one million SME operators across Nigeria in 2024. Osahon Akpata, head of SME and Partnerships at Ecobank Nigeria, announced the programme in Lagos, […]