Saturday, November 23African Digital Business Magazine

Nigeria News

Nigeria News

16Jun By Africa BusinessNo Comments
Nigeria News

Establishing a Highly Competitive Domestic Hydrocarbons Market in Nigeria

Local content regulations and the implementation of the AfCFTA have triggered the creation of a highly competitive domestic hydrocarbons market within Africa’s largest oil producer. Nigeria represents one of the continent’s most mature oil and gas markets as well as the largest oil producer in sub-Saharan Africa. The country’s energy achievements have largely been attributed to the participation of various international oil companies (IOC), including TotalEnergies, Shell, Eni, Chevron and ExxonMobil – who, according to Woomac, collectively have equity participation in over 110 oil mining licenses and are responsible for 45% of the country’s oil production – as well as the leadership of the state-owned Nigerian National Petroleum Corporation (NNPC). However, with IOC divestment from key hy...
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How tracking methane helps fight climate change
9Jun By Antoine RostandNo Comments
Algeria News, Energy, Main, Nigeria News, Rwanda News

How tracking methane helps fight climate change

By Antoine Rostand, President and Founder of Kayrros The need to track and reduce greenhouse gas emissions has never been more urgent. According to the IPCC, “without increased and urgent mitigation in the coming years, leading to a sharp decline in greenhouse gas emissions by 2030, global warming will surpass 1.5C in the following decades, leading to irreversible loss of the most fragile ecosystems, and crisis after crisis for the most vulnerable people and societies.” And yet they continue to increase. However, while much attention is paid to CO2, which accounts for 76% of global greenhouse gas emissions, less is paid to a far more potent gas. Methane (20% of global emissions) is considered a “short-term climate forcer”, with a lifespan of about 12 years compared with CO2’s 300 to 1,00...
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Understanding the Metaverse – Africa’s role
7Jun By Balkissa Ide SiddoNo Comments
Main, Nigeria News, Startups

Understanding the Metaverse – Africa’s role

By Balkissa Ide Siddo, Director of Public Policy, Africa, Meta Since the start of the twenty-first century, technology has been at the heart of enhancing communication and human contact. The internet has not only enabled people to communicate with family and friends all over the world in real time, but powered businesses and creativity across the globe. With each passing day, more technologies are built to improve our quality of life and shared experiences. We are hearing more and more about the metaverse, not only in the tech community but also amongst friends and family. So what does the metaverse actually mean? The metaverse will be a set of virtual spaces including immersive 3D experiences, that are all interconnected so you can easily move between them. It will let you do things ...
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11May By Africa BusinessNo Comments
Ethiopia News, Ghana News, Kenya News, Main, Mauritius News, Mozambique News, Namibia News, Nigeria News, South Africa News

The rapid rate of competition law developments across Africa

By Lerisha Naidu, Partner, Angelo Tzarevski, Associate Director, Sphesihle Nxumalo, Associate and Zareenah Rasool, Associate, Competition & Antitrust Practice, Baker McKenzie Johannesburg Baker McKenzie's latest Africa Competition Report 2022 provides a detailed analysis and overview of recent developments in competition law enforcement and competition policy in 32 African jurisdictions and regional bodies. The Report outlines how, over the past two years, African competition regulators have actively engaged in efforts to address pandemic-related challenges, but there has also been a general upward trend in competition policy enforcement across the continent. This trend is highlighted by a number of significant recent developments in competition law regulation across the continent. Co...
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Data security and privacy laws develop across Africa
3May By Africa BusinessNo Comments
Ghana News, Kenya News, Madagascar News, Main, Mauritius News, Nigeria News, Rwanda News, South Africa News, Togo News, Uganda News, Zimbabwe News

Data security and privacy laws develop across Africa

Numerous countries in Africa have developed or implemented data privacy and security laws in their countries in the last few years. With the rapid rise in digitisation as a result of the pandemic, the broad implementation of such laws across the continent has never been more urgent. Countries including Ghana, Kenya, Madagascar, Mauritius, Nigeria, Rwanda, South Africa, Togo, Uganda and Zimbabwe have been implementing new measures to protect and secure the personal information of their citizens. In Ghana, data protection is regulated under the Data Protection Act, 2012 (DPA) together with Article 18(2) of the 1992 Constitution, which provides citizens with a fundamental right to privacy. Enid Baaba Dadzie, Senior Associate at Kimathi & Partners in Ghana, says that because data protect...
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15Apr By Africa BusinessNo Comments
Energy, Nigeria News

Accelerating Nigeria’s 30-30-30 vision with flexible gas-to-power generation will reduce dependence on expensive diesel and generate significant cost savings

Speaking last week at the Smart Energy Forum in Lagos and Abuja in the presence of Nigeria’s top energy decision-makers, senior energy experts from Wärtsilä presented the latest results of an in-depth study that models the most cost-effective and reliable energy mix that can be built each year in Nigeria. Nigeria is the largest and one of the fastest-growing economies in Africa, yet despite a wealth of natural resources, the country continues to struggle with acute electricity shortages, which constrain its economic development. To combat this, last year the Nigerian government formally launched “the Decade of Gas”, setting gas development and utilization as a national priority. Identifying the most cost-effective and sustainable power generation strategies was the theme of this week’s Sm...
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11Apr By Africa BusinessNo Comments
Fintech, Nigeria News, Startups

Kippa launches new digital payments product for SMEs in Africa

 Kippa, the fast-growing fintech start-up offering digital business and financial management solutions for SMEs in Africa, today announces the launch of its second product, ‘Kippa Payments’, a digital payments solution enabling users to send and receive payments from customers and perform extended payments transactions automatically. Kippa Payments, which will be available to access within the existing Kippa app, is the second product launched by the firm since it was founded less than a year ago in June 2021. Customers will now be able to send transfers and payments for bills, as well as products and invoices to customers, contained with embedded payment links for a small processing fee. This latest digital product can automatically detect, record, synchronise and therefore validate user...
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16Dec By Africa BusinessNo Comments
Nigeria News, Tech

Ventures Platform Secures First Close of US$40mn Pan-African Fund

Ventures Platform, the early-stage “discovery” venture capital fund championing the next generation of African entrepreneurs, has announced the first close of its new US$40m Pan-African, early-stage fund to invest in market-creating innovations. With this close led by the Nigeria Sovereign Investment Authority (NSIA), the new fund features participation from existing investors and some new leading names across Africa’s corporate and tech ecosystems, including UAC Nigeria, VFD Group, Gbenga Oyebode, Shola Akinlade (Paystack), and global investors like; Michael Seibel (Y Combinator) and Adam Draper. A second close of the fund is due to take place in early 2022 and will feature investment from select global Institutional Investors and DFI’s. Building upon its stellar reputation as one of the...
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3Dec By Africa BusinessNo Comments
Agriculture, Nigeria News

AFEX launches $100m Food Security Fund

Financing will strengthen Africa's food security and optimise climate smart innovations across seven countries AFEX, Nigeria’s leading commodities market player, has today announced a new $100m 10-year bond called The Food Security Fund (FSF). The financing will strengthen Africa's food security and produce three million MT of food annually on the continent. AFEX’s fund will support the financing of 250,000 hectares of land for commercial and smallholder farming, initially consisting of 30,000 hectares in the Nigerian states of Kano, Kaduna, Oyo, Ogun, Cross River & the FCT, before covering markets across East and West Africa. The focus of the The Food Security Fund will be to explore and optimize climate smart innovations and high yield agronomy protocols to ensure more food is pro...
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