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New 11-Country Report reveals African Farmers Missing out on AgriTech Innovations that Could Supercharge the Sector with opportunities for youth

Leave a Comment / Business, INTERNATIONAL / Godswill Odiong

While there are a wide range of agritech innovations that could propel African farmers to profitability, only 23% of youth engaged in agriculture are using any form of agricultural technology-noting a lack of financing and training, according to a new 11-country survey by Heifer International (www.Heifer.org). The report, “The Future of Africa’s Agriculture: An Assessment […]

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JUST IN: Pirates board Cargo ship at Conakry in the Gulf of Guinea

Cement carrier stuck on coral reefs in West Papua

Leave a Comment / Business, Maritime / Godswill Odiong

Aggregates carrier INDI NURMATALIA 07 with 2,200 tons of cement onboard has run aground on coral reefs at night on August 7, 2021, according to FleetMon. It stated: “Aggregates carrier INDI NURMATALIA 07 with 2,200 tons of cement on board ran aground on coral reefs at night August 7, 2021, while approaching Manokwari, West Papua,

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Petroleum Industry Act marks a significant milestone in the administration of Nigeria’s oil and gas industry --- LCCI

Practical Steps Toward Boosting Nigeria’s Revenue and Foreign Exchange Inflows

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By Dr. Chinyere Almona At the Council Meeting of the Lagos Chamber of Commerce & Industry on Wednesday 4th August 2021, there were deliberations on what practical steps can be taken by the Government to boost revenue and foreign exchange inflows. Nigeria’s fiscal and financial challenges have been of concern to several stakeholders including the

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Wema Bank plans acquisition, N40bn rights issue in September

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By Eyo Nsima Wema Bank Plc, a leading commercial bank, has concluded plans to acquire a fintech firm or a merger with another commercial bank. Moruf Oseni, the bank’s deputy managing director, said, Friday, in Lagos during the company’s half-year 2021 investors/analysts presentation, that this was targeted at bringing about growth. He said: “In organic

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CBN denies, condemns peddlers of rumor on Domiciliary Account Holdings

CBN introduces guidelines for Payments Service Holdcos

Leave a Comment / Business, The Nation / Alison_Godswill

CBN introduces guidelines for Payments Service Holdcos By Eyo Nsima The Central Bank of Nigeria, CBN, has introduced guidelines for the regulation of Payments Service Holding Companies, PSHCs, in the nation. The guidelines, stated: “The regulation requires companies desirous of operating more than one license category, to set up a PSHC, with activities of subsidiaries

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DBN increases loan portfolio to N215bn

Leave a Comment / Business / Alison_Godswill

DBN increases loan portfolio to N215bn The Development Bank of Nigeria (DBN) has increased its loan portfolio to N215.1 billion. DBN’s Managing Director, Mr. Tony Opkanachi, who provided the loan portfolio data in a statement, stated: “Notably, the Bank maintains a BASEL II capital ratio of 75.2 percent, several multiples of the minimum 10 percent

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Sudan: Dangote steps in, partners FG, Air Peace on re-settling evacuated Nigerians

2021 first half: Dangote Sugar records strong growth

Leave a Comment / Business, Dangote / Godswill Odiong

By Eyo Nsima Dangote Sugar Refinery recorded strong improvements in performance indices in half year ended June 30, 2021, as group revenue increased by 27.8 percent to N131.95 billion in contrast to N103.23 billion recorded at the same period in the preceding year. According to the refinery’s unaudited results for the period, Gross profit grew

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Dangote Cement posts resilient performance in first half 2021

Leave a Comment / Business, Dangote / Godswill Odiong

By Eyo Nsima Africa’s largest cement producer, Dangote Cement has announced resilient results for the six months ended 30th June 2021 as Group sales volumes hit 15.3Mt. According to the company’s unaudited results for the period under review, Nigerian operations accounted for a sales volume of 9.87 Mt while pan African operations contributed the balance

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African Continental Free Trade Area strongly supports bid of Made in Africa to buy Vlisco

Leave a Comment / Business, INTERNATIONAL / Godswill Odiong

At the heart of Africa’s global and regional competitiveness is the textiles and clothing sector It has been brought to the attention of the African Continental Free Trade Area (AfCFTA) Secretariat that our strategic partner, a leading African financial institution supported a $200 million bid by Made in Africa to purchase Vlisco, a textile company

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Airtel’s Mobile Operating Licence pending renewal – NCC

Leave a Comment / Business / Alison_Godswill

Airtel’s Mobile Operating Licence pending renewal – NCC By Eyo Nsima The Nigerian Communications Commission (NCC) has disclosed that Airtel’s Mobile Operating Licence application was pending renewal. Apparently, reacting to an online publication, which reported that the NCC has renewed it for another 10 years, NCC, stated in a statement that, “The attention of the

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