Finance
IMF Approves $8 Billion Package to Support Low-Income Countries Amid Economic Challenges
Economy Finance

IMF Approves $8 Billion Package to Support Low-Income Countries Amid Economic Challenges

The International Monetary Fund (IMF) has taken a major step to help low-income countries navigate tough economic times by approving a comprehensive reform and financing package for its Poverty Reduction and Growth Trust (PRGT). This package includes an $8 billion subsidy spread over the next five years, aiming to provide critical financial support to nations […]

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Kora Unveils ₦200 Million Endowment Fund to Propel Educational Opportunities at Covenant University
Finance Sectors

Kora Unveils ₦200 Million Endowment Fund to Propel Educational Opportunities at Covenant University

Kora, a pioneering force in the financial technology landscape, has launched an ambitious ₦200 million student endowment fund at Covenant University, aimed at empowering deserving students through financial aid. This initiative aligns with Kora’s overarching mission to drive educational accessibility and talent development in Africa, setting the stage for long-term socioeconomic impact across the continent. […]

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Kunle Adedeji Takes Over as Acting CEO of Stanbic IBTC After Sogunle’s Retirement
Banking Finance

Kunle Adedeji Takes Over as Acting CEO of Stanbic IBTC After Sogunle’s Retirement

Stanbic IBTC Holdings Plc has announced the retirement of its Chief Executive Officer, Demola Sogunle, after an incredible 35 years of service. Sogunle, who has played a crucial role in shaping the company’s success, will officially step down on October 31, 2024. In a statement, Stanbic IBTC’s Board of Directors expressed their deep appreciation for […]

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African Development Bank and USAID Sign $600 Million Deal to Boost Development in the Sahel
Finance Partnerships

African Development Bank and USAID Sign $600 Million Deal to Boost Development in the Sahel

In an exciting new partnership, the African Development Bank Group (AfDB) and USAID have signed a massive $600 million deal aimed at bringing real change to the Sahel region. This isn’t just another development agreement—it’s a bold move to tackle some of the toughest issues the Sahel faces, from political instability and climate challenges to […]

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M-Pesa Launches Ratiba: A New Standing Order Feature to Simplify Digital Payments
Business Finance

M-Pesa Launches Ratiba: A New Standing Order Feature to Simplify Digital Payments

M-Pesa, Kenya’s leading mobile money service, has introduced a new payment feature called Ratiba, enabling subscribers to set up standing orders directly from their e-wallets. This move aims to streamline financial transactions and enhance the user experience, especially for those without access to traditional banking systems. A standing order allows users to automate recurring payments, […]

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World Bank Approves $1.57 Billion for Nigeria’s Education, Healthcare, and Climate Projects
Economy Finance

World Bank Approves $1.57 Billion for Nigeria’s Education, Healthcare, and Climate Projects

In a significant step toward supporting Nigeria’s development goals, the World Bank has approved three major projects totaling $1.57 billion in financing. These projects, aimed at addressing critical issues in governance, healthcare, and climate resilience, underscore the World Bank’s commitment to improving human capital and infrastructure in Nigeria.  The financing, approved on September 26, 2024, […]

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MEET BOLA ADESOLA AND AISHA MUHAMMED-OYEBODE: TRAILBLAZERS DRIVING CHANGE IN CORPORATE NIGERIA 
Business Exclusive

MEET BOLA ADESOLA AND AISHA MUHAMMED-OYEBODE: TRAILBLAZERS DRIVING CHANGE IN CORPORATE NIGERIA 

The Central Securities Clearing System (CSCS) Plc has recently welcomed two remarkable leaders, Bola Adesola and Aisha Muhammed-Oyebode, to its Board of Directors. Their appointments highlights a significant stride towards gender diversity and enhanced leadership within the Nigerian capital market. Both women bring a wealth of experience, a commitment to excellence, and an unwavering dedication […]

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Traders of Africa, AliExpress, and MoMo Partner to Revolutionize Nigeria’s E-Commerce Ecosystem
E-Commerce Partnerships

Traders of Africa, AliExpress, and MoMo Partner to Revolutionize Nigeria’s E-Commerce Ecosystem

In a groundbreaking collaboration aimed at reshaping Nigeria’s e-commerce landscape, Traders of Africa (TOFA), AliExpress, and MTN MoMo have announced a strategic partnership designed to give Nigerian consumers access to global products, secure payment options in local currency, and reliable delivery services. This initiative marks a significant step in expanding e-commerce capabilities across the country, […]

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Kora and Pyvio Partner to Streamline B2B Payments in Africa
Business News Fintech

Kora and Pyvio Partner to Streamline B2B Payments in Africa

In a move set to revolutionise B2B payments across the African continent, Kora, a leading pan-African payment infrastructure, has announced a strategic partnership with Hong Kong-based fintech company Pyvio. The collaboration aims to simplify cross-border payment processes for Chinese e-commerce and media companies operating in Africa, allowing them to navigate the often complex regulatory frameworks […]

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Sterling HoldCo Finalises $50 Million Capital Raising Exercise on CBN Directive
Banking Finance

Sterling HoldCo Finalises $50 Million Capital Raising Exercise on CBN Directive

Sterling Financial Holdings Company Plc has made significant progress in its efforts to comply with the Central Bank of Nigeria’s (CBN) recapitalisation requirements for its subsidiaries, securing $50 million in fresh capital. This move, equating to approximately N75 billion, was accomplished through a private placement involving a consortium of domestic investors and ultra-high-net-worth individuals in […]

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