Category Archives: Nigeria News

Nigeria News

New for Nigerians: Paycode Cardless Cash Withdrawal Service

I’m excited to announce a new financial service inside BBM for Nigerians: Paycode. This service, from Interswitch Ltd, enables cardless cash withdrawal at ATMs as well as cardless/cashless payments in participating real-world stores. Nigerians can find Paycode on their Discover menu today.

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2Face Idibia Joins Olori for GiveBack Concert to Save Nigerian Orphans

GiveBack Concert

2face Idibia (Tubaba) has decided to team up with Olori Wuraola Zaynab Ogunwusi, Yeyeluwa of Ife for the GiveBack Concert to put smiles on the faces of orphaned children from all over Nigeria.

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CashlessAfrica Champion Awards 2017 to Reward Innovation in the Digital Financial Services Ecosystem in Africa.

digital financial services

Mobile Money Shop in Ghana.

The CashlessAfrica 2017 (www.CashlessAfrica.com) awards are dedicated to acknowledging creativity, commitment and excellence in the digital financial services industry across Africa. The awards honor the best of the breed across all sectors and segments covering financial technology providers, mobile network operators, financial institutions, mobile money providers, card services, financial institutions, application providers, regulators, microfinance organizations and individuals in the ecosystem in Africa and beyond.

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Multimodal West Africa set to prepare Nigeria’s transport and logistics sector for economic growth.

Nigeria’s leading transport and logistics experts will gather for the historic maiden edition of Multimodal West Africa 2017 (MMWA) from Tuesday, 14th to Thursday, 16th March 2017 at the Landmark Event Centre, Victoria Island, Lagos. Most of the industry stakeholders are excited about the Exhibition as they believe it will adequately reposition the Transportation and Logistics sector, which used to be noted for its huge contribution to the nation’s economy but has struggled to retain its position as a result of economic downturn.

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Ghana and Nigeria to Influence AWG Market Size By Residential Application

Water scarcity – including availability and distribution, is one of a global challenge that requires immediate attention. A report from Global Market Insights, Inc on Global Atmospheric Water Generator (AWG) Market size indicated that the sector was worth USD 800 million in 2015 and is forecast to exceed USD 8 billion by 2024 driven by technological innovations.

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WEF Report Indicate High Inequality Rate in Nigeria, South Africa, and US

World Economic Forum (WEF) report on ‘inclusive development index’  shows United States of America, Nigeria, South Africa, Brazil, Ireland, Japan, and Mexico have inclusive-development rankings that fall below their GDP per capita rankings. What this means is that, despite the economic growth witnessed in these countries, there is inequality in the share of the economic growth or prosperity.  The United States had the largest gap existing between the countries GDP per capita rankings and the inclusive-development rankings. This urgently calls for a change in policies which restricts fairs hare of economic growth, employment, and increased profits.

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Nigerian Minister of Industry, Trade and Investment Dr. Okechukwu Enelamah handing over the instrument of acceptance of TFA to World Trade Organisation DG Robert Azevedo in Davos

Nigerian Minister of Industry, Trade and Investment Dr. Okechukwu Enelamah handing over the instrument of acceptance of TFA to WTO DG Robert Azevedo in Davos, Switzerland

According to a 2015 study carried out by WTO economists, full implementation of the TFA would reduce members’ trade costs by an average of 14.3 per cent, with developing countries having the most to gain

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WEF Building Africa: Industrialisation key to Africa’s economic transformation

On this Building Africa debate CNBC Africa is joined by panellists consisting of Phuthuma Nhleko, Executive Chairman, MTN; Paul Kagame, President of the Republic of Rwanda; Oluyemi Oluleke Osinbajo, Vice President of Nigeria and Siyabonga Gama, CEO, Transnet

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Africa’s agricultural production systems need a radical change – ECA’s Karingi

Karingi indicated that the progress in the levels of agricultural productivity has been uneven across countries, ranging from an increase of 325% in Nigeria to a decrease of about 40% in Zimbabwe and proposed that rethinking agricultural transformation would involve the adoption of a three-pronged approach that should systematically and comprehensively consider three essential elements: farming systems, agribusiness and regional value chains

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Scatec Solar Project in Jigawa State – Nigeria, attracts USD 150 million investment

Nigeria, one of the largest economies in Africa, is continue to face challenges with energy access and power supply. As the country gears towards increasing employment by providing jobs, and strengthening the economy for youth. The Scatec Solar project has attracted new investors who will support the project with an estimated USD 150 million which will boost the 100 Megawatts Scotia project in Nigeria. Additionally, the project is also targeted to setting Nigeria on their commitment to the Paris Agreement as the project is estimated to prevent 120,000 tons of CO2 emissions every year as a renewable energy power source.

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Paystack closes seed investment of $1.3m to develop its hub in Nigeria

Paystack, a reinforced payment system that is dedicated to solving challenges relates to online payments in Africa, has announced a closed seed investment of 1.3 million USD. The investment is coming from Paystacks international investors including Tencent, Comcast Ventures, and Singularity Investments, Spark, M&S Partners, and many other organizations and individuals – Michael Siebel, Justin Kan, Olumide Soyombo, Leonard Stiegeler, etc.

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Lagos to host CashlessAfrica Expo 2017

Digital disruption is shifting the balance stay of power in financial services and influencing the way, millions of people bank their money, make payments, remittances and more, in a continent where mobile phone penetration exceed bank accounts and bank cards ownership, combined.

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Nigeria’s Amina Mohammed appointed as UN Deputy Secretary-General

The elected United Nations Secretary-General, Antonio Guterres, who will replace Ban Ki-moon coming 2017, has appointed the environment minister of Nigeria to be his deputy secretary-general. According to reports, the incoming Secretary-general of the United Nations has additionally named two additional women to occupy high positions in the United Nations. This comes as a good news to many youth (especially women) who anticipated the next UN Secretary-general position to be occupied by a woman. This move by Antonio Guterres is a great gesture towards gender equality and also ensuring gender balance within the United Nations as the current statistics shows women occupy only about 20 per cent of the under-secretary-general positions.

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Eight MOAs signed by 4 Companies to boost Oil and Gas Infrastructure in Nigeria

Nigeria is known for its oil production boosting the country’s economy. To help advance the Oil and Gas sector, it is important that required infrastructures be made available. In view of this, Chongqing Construction Engineering Group (CCEGC, Oilserv, Tianjin Energy, and Alpha Group has come together to sign eight multi-billion dollar memorandum of agreements (MOAs) to develop Nigeria’s Oil and Gas Infrastructure.

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Crowding the private sector into Africa’s climate action

Mohamed Beavogui, Director General at African Risk Capacity (ARC) and Akinwumi ADESINA, President of the African Development Bank

The global community for climate action was spooked by the November 8 election of Donald Trump as the next President of the United States. The US President-elect had earned the sobriquet of “climate denier,” for his claim that climate change is a hoax. However, there is cautious optimism that his presidency will not overturn the global agenda on climate change. Hopefully, his views on climate change will change and align with reality when he settles into the Oval Office. Policymakers also believe that global climate agreements cannot be reversed easily.

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Five West African Countries Avoids Dirty Fuel from Europe

A number of West African countries have been sourcing fuel from Europe and reports (beginning earlier and mid this year) indicates that these European fuels do not meet the expected emission standards. In Ghana, the issue had risen in public discussions when first discovered and some environmental and health activists had used social media to publicize the issue to raise awareness for better fuel importation into the country.

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Promoting African Culture Through Clothes and Fabrics

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In modern times, African culture is being displayed in many material forms and to that, we are gradually expanding our reach on the global market. In recent decades, it is of no surprise to see folks in Europe or the United States wearing clothing manufactured from African print materials or clothing with African symbols inscribed in it. The use of beads as chains, bracelets, etc is no longer a thing of Ghana, Nigeria, Senegal, or any of the sub Saharan countries but could be found in many parts of the world.

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