The Board has been given permission by the shareholders of Dangote Cement Plc, the largest cement producer in Africa, to repurchase up to 10% of the company’s outstanding shares as of the resolution’s effective date.
At the Dangote Cement Plc. Extraordinary General Meeting (EGM), which took place on Tuesday, December 13, 2022 in Lagos, this motion and others were approved.
What is…
11Plc appeals the sale of the Lagos Continental Hotel to the Supreme Court
December 17, 2022
The recent decision of the Appeal Court invalidating the sale of the Lagos Continental Hotel to 11Plc has been appealed to the Supreme Court by the Asset Management Corporation of Nigeria (AMCON), Polaris Bank Limited, and 11Plc.
The parties appealed to the Supreme Court via…
The Nigerian Inter-Bank Settlement Scheme (NIBSS) data for the past eleven months reveals that the amount of Point of Sale (PoS) transactions climbed by 20.5 percent to 1.06 trillion from 883 million in the same time of 2021.
However, its worth increased by 32% from N5.73…
Cherry Finance has been introduced by Payday to boost international money transfers.
December 17, 2022
Payday, a Pan-African Fintech startup, unveiled Cherry Finance, a new remittance product that would make it easy and safe for African immigrants in North America (the US and Canada) to send money home.
With a flat fee of $2 for each transaction or transfer, Cherry Finance reportedly boasts one of the lowest cost-per-transfer rates in the industry.
Favour Ori, the person behind Cherry, stated in a…
Visa promises to invest $1 billion in Africa's payment system over the next five years.
December 17, 2022
Visa has committed to spending $1 billion over the following five years to improve Africa’s payment environment. The international payment company made the investment announcement on Wednesday during the US-Africa Business Forum.
The investment will, in the…
Investments in Venture Platform's $40 million early-stage fund exceed expectations.
December 17, 2022
With a final close of $46 million, Venture Platform’s early-stage and international fund has surpassed its initial $40 million goal.
New global participants in the oversubscribed fund include corporates, DFIs, commercial banks, high-net-worth individuals, and global…
Next-generation 5G smartphones will be powered by MediaTek’s flagship processor, the Dimensity 9000 chipset technology, in Nigeria.
Dimensity 9000, according to MediaTek, is the first smartphone chip ever created using the incredibly effective TMSC N4 (4nm-class) manufacturing process. It delivers outstanding innovations in connection, gaming, imaging, multimedia, and computational…
Withdrawal Limit Policy: According to Emefiele, there are 1.4 million mobile bankers in Nigeria.
December 11, 2022
Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, on Thursday, said there are about 1.4 million super agents (mobile banking operators including POS agents) in the country for Nigerians to patronise for business transactions.
Emefiele said this while reiterating…
TransferGo begins in Ghana and five other nations as it extends its money-transfer business to Africa.
December 11, 2022
You can now make international money transfers to Ghana, Senegal, Uganda, Kenya, Morocco and Benin Republic without having to pay high transaction fees—thanks to TransferGo, a digital financial institution that offers fast and easy online money transfers worldwide to over…
You can now pay in installments for your next flight on United Nigeria Airlines, powered by Kalabash.
December 11, 2022
In its commitment and dedication to providing seamless payment solutions for stakeholders in the travel industry, Kalabash has partnered with United Nigeria Airlines to offer its passengers the option of paying for their flights in installments with its innovative payment solution, Pay Small Small™ (PSS).
This service will be available for all United Nigeria Airlines passengers and will give…