Global insurance industry runs risk of ‘Kodak Moment’ as it is failing to respond to digital transformation

The global insurance industry has been adjudged to be facing its very own “Kodak moment” as it fails to respond to digital transformation or changing customer behaviours, according to Darrel Orsmond, financial services industry head at SAP Africa. In an article, “The (very near) future of insurance: the digital transformation imperative”, Orsmond noted that the […]

Nigeria’s new tax policy on ‘vatting’ microfinance banks’ services seen promoting financial exclusion

Analysts and operators are challenging the applicability of value added tax on services rendered by microfinance banks as contained in the new national tax policy, saying the move counters government and the central bank of Nigeria efforts at financial inclusion. Businessamlive learnt that the primary aim of the new National Tax Policy is to introduce […]

Nigerian stocks in yet another flip-flop performance as market opens week negative

Stock

After closing positive last week, Nigerian stocks in yet another flip-flop performance close trade Monday negative with benchmark index dipping 0.91 percent as against 1.66 percent appreciation recorded previously to settle at 36,584.44 points. Year-to-date gain moderated to 36.1 performance as market capitalization contracted N115.9 billion to settle at N12.6 trillion. Monday’s negative close was […]

Nigeria’s domestic debt gulping over 90% of total servicing obligations- NEITI

Waziri-Adio

A recent quarterly review by the Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed that domestic debt servicing has consistently outstripped external debt servicing in recent times, especially since 2015. “Domestic debt servicing has consistently contributed over 90 percent of total debt servicing since 2015. The Central Bank of Nigeria (CBN) in its Communique No. […]

Libya halts biggest oil field loadings in latest disruption

Libya, Africa’s largest crude reserves, halted loadings from its biggest oil field in the latest disruption to the OPEC nation’s crude production and shipments. Force majeure was declared Saturday on shipments from Sharara, made through the Zawiya export terminal, state-run National Oil Corp. Chairman Mustafa Sanalla said Monday by phone. Force majeure is a legal status protecting […]

Nigerians trending electronic as instant payment platform records 67.5% of total value transacted in Q2

Data from Nigeria National Bureau of Statistics (NBS) has indicated that the Nigeria Interbank Settlement Scheme (NIBSS) instant payment option (NIP) leads other platforms in transaction value, recording N13.36 trillion or 67.5 percent of the N19.78 trillion transacted in the second quarter of 2017. The data on electronic payment channels in the Nigeria banking sector […]

India to sell only electric cars within the next 13 years

Every car sold in India from 2030 will be electric, under new government plans that have delighted environmentalists and dismayed the oil industry. It’s hoped that by ridding India’s roads of petrol and diesel cars in the years ahead, the country will be able to reduce the harmful levels of air pollution that contribute to […]