Nigerian business Archives - AfricaBusiness.com

8Nov

By Faizal BhanaNo Comments

Main, Nigeria News

Operational Challenges and Opportunities for Family-Owned Businesses in a Post-Covid World

By Faizal Bhana – Director Jersey Finance - Middle East, Africa and India. According to Asoko Insight’s FOB500 research, Nigerian family-owned businesses make up 36% of companies within the Economic Community of West African States, (ECOWAS). These businesses have been vital to the socio-economic development of Nigeria and have been instrumental in the region’s back-to-business strategy amid the COVID-19 pandemic as a mechanism of securing their legacy. It is important to note that family-owned businesses globally, including Africa, experienced adverse consequences as a result of COVID-19. Mandatory lockdowns and the general restriction of movement contributed to creating this challenging operational environment that required family businesses to adapt to survive. Policies such as ‘wor...

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...

15Jul

By John BrooksNo Comments

Fintech, Nigeria News

Top 5 Reasons Why Nigerian Pioneer Bitcoin Remittances

A survey by Statista found that around 32 percent of people in Nigeria use cryptocurrencies and this is the highest proportion of a population in the world. In terms of trade volume, the country stands in 3rd position after the United States of American and Russia with a transaction value of more than 400 million dollars. This virtual currency is booming in Nigeria although there is a banking ban on it, traders discovered ways against government ban like the other parts of the world. As per the blockchain research firm Chainalysis, the amount of crypto received by the Nigerian crypto community has been constantly growing. The use of crypto in international trade also surged in Nigeria, people tried to use the currency to proxy the US dollar. Since the beginning of 2021, Nigerians traded 50...

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...

The challenges and opportunities of big businesses in developing countries – From Storeroom to Boardroom

27Jan

By Africa BusinessNo Comments

Business, Nigeria News

The challenges and opportunities of big businesses in developing countries – From Storeroom to Boardroom

What does it really take to succeed in big multinational businesses in the developing world? One man’s remarkable journey from a rural Nigerian village to a top job in a global corporation describes the challenges, the opportunities and the issues we must all face up to if we are to create positive organizational and societal impact, equality and equity in global businesses. Babs Omotowa has written From Storeroom to Boardroom to share his insight on the challenges and opportunities of big businesses in developing countries including on, climate change, oil spills, corruption, transparency, culture, government relationships and societal (community and capacity) development. Babs Omotowa has spent his life rejecting the status quo. His own career disproves the unthinking perception that Af...

TradeDepot highlights smaller packs and increased food spending as top trends that will shape Nigeria’s retail sector in 2021

12Jan

By Africa BusinessNo Comments

Nigeria News

TradeDepot highlights smaller packs and increased food spending as top trends that will shape Nigeria’s retail sector in 2021

TradeDepot, the B2B eCommerce platform for consumer goods in Africa, has today released new insights from its market data that highlights the trends that will shape Nigeria’s retail sector in 2021. According to TradeDepot, the impact of the pandemic, rising inflation, border closures and other issues drove significant changes in behaviour for retailers, distributors and manufacturers in 2020. As the sector settles into the new year, TradeDepot predicts that some of the main trends that shaped 2020 - particularly smaller packaging for consumer goods and increased spending on food and essential goods due to dwindling disposable income and people spending more time at home - will continue to influence behaviour across the market. The retail sector is the third largest contributor to Nigeria’s...