Life insurers tweak business models amid turbulence, McKinsey report
Olivia NnoromNovember 21, 2022
OLIVIA NNOROM Performance disappointing in recent years Industry struggling to generate returns in excess of cost of capital The life and retirement segment of the global insurance industry has seen disappointing performance in recent years, with nominal GDP growth far outpacing premium growth, the industry struggling to generate returns in excess of cost […]
Dave Van Bulck takes over as Ringardas Nigeria MD
Adeola AjakaiyeNovember 18, 2022
By Adeola Ajakaiye Dave Van Bulck has been appointed as the new executive managing director of Ringardas Nigeria Limited, also known as ASCA, the pioneer bitumen distribution company in Nigeria. He takes over from Philippe Goron, the outgoing managing director, according to a statement issued by management of the company in Abuja. […]
COP 27: Africa’s energy poverty keeps 600m people without access
Maduabuchi EfegadiNovember 17, 2022
BY MADUABUCHI EFEGADI …Hinders continent’s economic devt., industrialisation Africa’s energy poverty, which is a major constraint to the continent’s economic development, now increasingly hinders trade in the continent. This was disclosed by Hippolyte Fofack, chief economist and director, research and international cooperation at Africa Export-Import Bank (Afreximbank), at the ongoing 27th UN climate summit […]
African businesses risking failure without succession planning
Onome AmugeNovember 17, 2022
By Onome Amuge With a new generation of entrepreneurs emerging on the continent who are eager to pick up the mantle of business, Africa, a continent with a young and rapidly expanding population, is poised for tremendous business success. But the lack of succession planning by many African businesses, most of which are family-owned and controlled by […]
IFC appoints Dahlia Khalifa regional director for Nigeria, Central Africa, Liberia and Sierra Leone
Chisom NwatuNovember 16, 2022
By Chisom Nwatu IFC has appointed Dahlia Khalifa as its regional director for Nigeria, Central Africa, Liberia and Sierra Leone to drive its strategy to create a more resilient and sustainable private sector to support development and job creation in the region. Khalifa, who will be based in Lagos, Nigeria, will lead IFC’s […]
Zoho Finance Platform records 70% growth in MEA region
Onome AmugeNovember 16, 2022
By Onome Amuge Zoho Corporation, a leading global technology company, has announced that the Zoho Finance Platform achieved 70 percent year-over-year (YOY) revenue growth in the Middle East and Africa (MEA) region. The significant growth of the finance platform which supports more than half a million businesses in over 160 countries, is attributed to the […]
15-year old Otong wins UBA Foundation’s 2022 National Essay Competition
Rosemary IwualaNovember 16, 2022
By Rosemary Iwuala Fifteen-year-old Otong Usuongobona Paul from Akwa Ibom State has emerged the overall winner of the 2022 edition of the UBA Foundation Annual National Essay Competition (NEC) organised by the United Bank for Africa (UBA) Plc. Usongobong, a student of Federal Government Girls’ College Ikot-Obio Itong, Akwa-Ibom, beat 11 other […]
FATE Foundation’s policy dialogue to address finance gap facing Nigerian SMEs
Onome AmugeNovember 16, 2022
By Onome Amuge FATE Foundation, Nigeria’s foremost non-profit private-sector led organisation, is set to hold the eighth edition of its annual policy dialogue series for business entrepreneurs, aimed at discussing and proffering solutions to the financial gap hindering the development of Small and Medium Enterprises (SMEs) across the country. The event, scheduled for November 17, […]
CBN commits to protecting underserved Nigerians in new naira rollout
Rosemary IwualaNovember 15, 2022
By Rosemary Iwuala The Central Bank of Nigeria (CBN) has committed to protecting the interests of millions of unbanked and underserved Nigerians, mostly resident in the rural areas, in the implementation of its naira redesign policy. The apex bank also expressed satisfaction with the positive response of the banking public to the policy through increased […]
UBA reiterates commitment to development of SMEs across Africa
Godfrey OfurumNovember 14, 2022
By Godfrey Ofurum The management of United Bank for Africa (UBA) Plc has said that it is committed to the growth of Small and Medium Enterprises (SMEs) across Africa, as evidenced in the increased funding it has provided to such businesses in Nigeria and across Africa. Muyiwa Akinyemi, deputy managing director, said […]