Saturday, November 23African Digital Business Magazine

Tag: Lagos

8Aug By Giorgi MikhelidzeNo Comments
Nigeria News

Why is Nigeria’s central bank struggling to let go of the naira?

Due to the global pandemic, a lot of aspects of our lives were affected by negative circumstances. Those negative circumstances can be characterized with different rates, however, the influence on the global economy is the one that affects everyone’s life. When it comes to something that has such a major influence as covid you cannot blame anyone for that because it is a health-related issue but the outcome that we are facing right now is very tragic. A lot of people lost their jobs and tried to find many other ways to generate their profits and in some countries, national currencies are not controllable anymore. It is not a surprise that developing countries appeared to be especially vulnerable towards it while major economies are still standing steadily. Nigeria is not an exception in th...
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4Aug By Africa BusinessNo Comments
Nigeria News

Weownomy adopts bitcoin cash ABC, newly rebranded as eCash Coin

The world is currently in the midst of a technological revolution. Technology has taken over our lives and it's become difficult to imagine life without the internet, social media, or mobile phones. The digital age has also created some negative consequences such as cyberbullying and other online dangers. Weownomy aims to make things easier for users by offering them their own personal income social network (www.Weownomy.global) that they can use with eCash cryptocurrency which will be low-fee and globalized. It's hard to believe that in this day and age of modern technology there are still billions of people who don't have access to banking services. This number is even more shocking when you consider how many of these individuals live in countries without internet access. We...
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13Jul By Africa BusinessNo Comments
Fintech, Nigeria News

M-KOPA Expands to Nigeria, Appoints Babajide Duroshola as New Country General Manager

Connected Asset Financing Platform Commercially Launching After 20,000 Device Pilot 12th July 2021. Lagos, Nigeria. M-KOPA, the leading connected asset financing platform, today announces it has officially expanded to Nigeria. To lead the Nigeria team, M-KOPA has named Babajide Duroshola as the new General Manager. A part of the tech company’s broader expansion strategy, the move into the Nigerian market signals M-KOPA’s focus on offering millions of underbanked customers across Sub-Saharan Africa access to life-enhancing products and services such as smartphones, solar lighting, energy-efficient televisions, fridges and digital financial services via its financing platform. The company recorded pilot sales of over 20,000 devices in Lagos, and is rapidly expanding into states across the c...
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18Jun By Yusuff WaleNo Comments
Energy, Nigeria News

Nigeria’s latest gas-related power shortages could have been avoided. Here is why.

Opinion Piece by Yusuff Wale, Managing Director, Wärtsilä Marine & Power Services Nigeria Ltd On 28 May 2021, Nigeria’s national power generation dropped to 3,059 MW and for the subsequent seven days remained below 4,000 MW, six percent below-average production. Low pressure on the Escravos-Lagos Pipeline System (ELPS) left several gas turbine power plants with insufficient gas supply, leading to plant shutdowns and widespread power blackouts. Unlike gas turbine power plants, gas engine power plants have the flexibility to function during low gas pressure events. This flexibility significantly lowers power production risk, a supreme advantage in the context of gas supply disruptions and systemic power shortages. Power cuts in Nigeria are a regular occurrence. Data from the Transmissio...
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7May By Africa BusinessNo Comments
Nigeria News

Heirs Oil & Gas Announces CEO and Board Appointments

Heirs Oil & Gas (HHOG) (www.HeirsOilandGas.com), the leading African integrated energy company, has announced the appointment of Osayande Igiehon as Chief Executive Officer, effective May 4, 2021, together with a distinguished non-executive board, bringing together leading industry figures, with considerable global and regional experience. Heirs Holdings Limited’s (HH) portfolio company, HHOG, completed the acquisition of OML17 in January 2021, in one of the largest oil and gas financings in Africa in more than a decade, with a financing component of US$1.1 billion. The transaction represents a further implementation of the HH Group strategy of creating the leading integrated energy business in Africa. Through a series of strategic portfolio holdings, HH is executing this strategy....
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