TradeDepot secures $110m funding to expand platform in Africa
Charles Abuede
December 8, 2021
Offers Buy-Now-Pay-Later to 5m SME retailers TradeDepot, one of Africa’s leading B2B eCommerce and embedded finance platforms has raised $110 million in an equity and debt funding round to support the delivery of Buy-Now-Pay-Later services to five million SME retailers and drive further expansion of its merchant platform across the continent. The […]
LCCI says Nigeria’s economy to close 2021 with 2.5% growth
Onome AmugeDecember 6, 2021
The Nigerian economy, despite its adverse economic conditions, is likely to end the current year on a growth rate of two percent or 2.5 percent. Toki Mabogunje, president of the Lagos Chamber of Commerce and Industry (LCCI), made the projection during the recently conducted 133rd annual general meeting of the chamber in Lagos. […]
What more do you know about the Honeywell, Flour Mills N80bn transaction?
Charles AbuedeDecember 6, 2021
The recent information wave that swept through the economy over the acquisition of Honeywell Flour Mills, one of the portfolio companies of Honeywell Group, by Flour Mills of Nigeria, in what will see Flour Mills become the second-largest flour miller in Nigeria after Olam Flour Mills, is regarded as the biggest transaction in recent times. […]
NAHCO controls ground handling as United Airlines returns to Nigeria
Sade WilliamsDecember 2, 2021
By Sade Williams/business a.m. NAHCO Plc, the Nigeria leader in airport ground handling operations, took full control of handling business in the welcoming of the United States-based United Airlines back to Lagos, Nigeria, in a manner analysts have described as admirable. The Airline flight UA612 touched down at about 11:10 a.m. at the […]
Competition, price war ahead in wake of Flour Mills’ acquisition of Honeywell
Charles AbuedeDecember 2, 2021
Acquisition changes dynamics of oligopolistic industry Strategists at Olam, BUA go into engine room FMN set for second-largest miller in position Operators in Nigeria’s flour milling industry must be preparing themselves to the hilt for what is primed to be some expected market place changes that will come following the recent, notwithstanding Ecobank’s caveat […]
YouTube backs 2 Nigerian firms to boost Africa’s creative economy
Charles AbuedeDecember 1, 2021
Initiative to impact 300 African music creators An estimated 300 music creatives from across Africa are set to benefit from the investment initiative from YouTube Music, the world’s most popular online video community, after the company announced its plans to support African creative voices by providing financial grants, capacity development training and advisory […]
CBN automates exports form with N5000 charge per declaration
Charles AbuedeNovember 30, 2021
The Central Bank of Nigeria (CBN) in a circular signed by O.S. Nnaji, its director, trade and exchange department, and titled, ‘Automation of Form NCX on the trade monitoring system’, has said it will begin charging N5000 as fee for every declaration using the automated Non-Commercial exports (NCX) Form (NCX Form) for stakeholders in the […]
South East traders fault NCS new model for calculating import duty
Onome AmugeNovember 30, 2021
Call for finance minister’s intervention Say could lead to high costs of goods Increase economic hardship with social unrest The South East Amalgamated Markets Traders Association (SEAMATA) has voiced its objection to what it described as an “astronomical and indiscriminate” increment in the import duty on cargoes charged by Nigerian Customs Service (NCS). […]
Nigeria-Vietnam Chamber chief wants smart tech to drive potential of agriculture
Charles AbuedeNovember 29, 2021
Oye Akinsemoyi, a trade and commerce expert and president, Nigeria-Vietnam Chamber of Commerce and Industry, has canvassed the adoption of smart agriculture, involving the use of technology and artificial intelligence for data collection, diagnostics, and decisions on the farmland that can enable careful management of demand forecast and delivery of goods to market timely to […]
Competition, price war ahead in wake of Flour Mills’ acquisition of Honeywell
Chris IkosaNovember 29, 2021
Acquisition changes dynamics of oligopolistic industry Strategists at Olam, BUA go into engine room FMN set for second-largest miller position Operators in Nigeria’s flour milling industry must be preparing themselves to the hilt for what is primed to be some expected market place changes that will come following the recent, notwithstanding Ecobank’s caveat […]