Jumia Reports Q3 2019: JumiaPay Total Payment Volume up 95% and JumiaPay Transactions up 262% year-over-year

Marketplace revenue up 52% and Gross profit up 45% year-over-year  LAGOS, Nigeria - Jumia Technologies AG (NYSE: JMIA) (“Jumia” or the Company) announced today its financial results for...

Jumia Reports Q3 2019 Results: Marketplace revenue up 52% and Gross profit up 45% year-over-year

JumiaPay Total Payment Volume up 95% and JumiaPay Transactions up 262% year-over-year LAGOS, Nigeria -Jumia Technologies AG (NYSE: JMIA) (“Jumia” or the Company) announced today its financial results...

Nigeria Customs Service receives N5.34billion from FAAC in September 2019

The Federation Account Allocation Committee (FAAC) disbursed the sum of N740.87bn to the three tiers of government in September 2019 from the revenue generated...

Seplat Announces Q3 2019 Interim Dividend Currency Exchange Rates

Lagos and London, 12th November 2019: Seplat Petroleum Development Company Plc ("Seplat" or the "Company"), a leading Nigerian independent oil and gas company listed...

Telecom & IT

Nigeria’s Interswitch Confirms $1B Valuation after Visa Investment

Nigerian digital payments firm Interswitch confirmed today it has reached unicorn status after Visa acquired a minority equity stake in the firm. “The investment makes Interswitch one of...

5 Cybersecurity Dangers Everyone Should Know About

There’s so much focus on the massive cybersecurity and data breach or the malware that holds your computer to ransom. However, it’s also important to keep your guard...

MTN Nigeria Earnings Review 9M 2019: Strong Operations but Leverage Casts a Shadow

Increased revenues by 12.0% y/y growth Jump in net finance costs by 113.4% y/y Solid performance, good buy Data revenue surge as voice remains...

Less than half women in world use internet – Report

Over half of women around the world still do not use the internet. The first report in the International Telecommunication Union’s new 'Measuring digital...

Western Digital Introduces Next-Level Storage Solutions For NAS Enviroments

Western Digital Corp, today introduced an array of purpose-built storage solutions for small businesses and home offices leveraging NAS environments. The solutions include the...

Business & Economy

Dangote Sugar Earnings Review 9M 2019: Cost pressure drags profitability but renewed optimism

Revenues increased by 0.6% y/y Cost of Sales climbed by 2.0% y/y Slump in investment income Revenue recovers Dangote Sugar released its 9M 2019...

BLK Prestige Investment Limited: Responsible CSR For Societal Growth

Corporate Social Responsibility (CSR) in Nigeria is almost as old as the country as it could be traced to 1956 when crude oil was...

CNN’s African Voices Change Makers Meets Tony Elumelu

On this week’s African Voices Changemakers, CNN International meets Nigerian businessman and philanthropist Tony Elumelu. After years in the banking world, Elumelu is using...

Moody’s Rating: Life-saver To South Africa’s economy?

So far, the South African economy has remained under pressure in 2019, amid faltering output growth, massive inequality, rising unemployment, and power sector crisis. This...

CCNN and Obu Cement merger update: Excerpts from the scheme of merger

CardinalStone Research Cement Company of Northern Nigeria (CCNN) and Obu Cement Company Plc (Obu) have released a scheme of merger document for their impending business...

SME Corner

DBN, NSE partner to create capacity for MSMEs

The Development Bank of Nigeria (DBN) has announced her partnership with the Nigerian Stock Exchange, the two organizations would...

Photo News: Development Bank of Nigeria MSME Summit, Maiduguri, Borno State

The Development Bank of Nigeria (DBN) on Tuesday 29th October 2019 held for the first time in Borno, a...

N150 million Up For Grabs As Access Bank and Star Lager Beer Unveil ‘Access The Stars’

Two of Nigeria’s biggest brands are teaming up for a mega opportunity to discover new music talents across the...

P&G Nigeria partners Bank of Industry to catalyze the SME sector through skilled Academy

Leading manufacturers of trusted quality brands in Nigeria, Procter & Gamble, in partnership with FMITI and the Bank of...

Union Bank Plc secures $200m in OPIC funding for SMEs and women’s initiatives

Union Bank of Nigeria Plc has secured $200 million in funding through a partnership with Sub-Saharan Africa financial services...

Beverages

Heineken Introduces Cardboard Rings to Reduce Plastic Pollution

Heineken, the Dutch beer giant is getting rid of the plastic six-pack rings and shrink wrap that holds its beer cans together in favour...

Nigeria Breweries Earnings Review: Excise pressures and high leverage weighs on 9M profit

A decline in net revenue by 1.0% Margins are thinner and this impacts on profits A dividend of N 0.50/s declared and translates...

Monument Distillers Nigeria Limited announces the appointment of Mr Godwin Oche as CEO

Monument Distillers Nigeria Limited (MDN) launched in Nigeria in March 2019 with the acquisition of the 1960 Rootz Bitters brand and the state-of-the-art manufacturing...

Must Read

Spectranet and Nokia to provide 100+ Mbps ultra broadband services with FTTH to home and business users in Nigeria

Nokia GPON solution helps Spectranet better serve its customers by adding FTTH services to its current portfolio of LTE  wireless broadband access services ...

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is held. The sort code is...

You Should Totally Avoid These Words During An Interview

The job market is very competitive and getting an interview is a chance to let an employer or HR manager know you’re the best...

Midea Showrooms And Stores In Nigeria

If you’ve been wondering where Midea showroom and stores are in Nigeria below is a list of Showrooms and Authorised dealer stores nationwide. MIDEA STORES...

Amazing Ankara Styles To Wear To An Occasion

If you have been recently invited to a wedding in Nigeria, there are lots of good options. From Aso Ebi to lace styles – there is a great...

Ankara Styles For Slim Ladies: Top 5 Looks You Must Try! (Pictures)

Today’s fashion of Nigeria shows off plenty of Ankara styles for slim ladies, that will help them to create a seductive, stylish image. We all know...

Agro News

Tiger Brands to dispose its meat processing unit amid struggles to lift performance

Tiger Brands, a South African packaged food company is exploring the sale of its processed meats business, which was temporarily closed last year following the world’s largest-ever Listeria outbreak that has negatively impacted the performance of its meat business. The...

Dangote Sugar Refinery Plc Notifies of Proposed Business Combination Within The Dangote Sugar Group

This is to inform the investing public that the Board of Directors of Dangote Sugar Refinery Plc (DSR) has recommended a business combination via...

Paddy Rice Markets in 2019: A Primer on AFEX’s Outlook

Agricultural commodity prices are by their very nature seasonal, that is, they fall to their lowest around harvest and rise consistently as the lean...

Kwara trains team ahead National Livestock Plan takeoff, Gov says initiative key to economic growth

Kwara State Governor AbdulRahman AbdulRazaq has said his administration has keyed into the Federal Government’s National Livestock Transformation Plan (NLTP) to drive economic growth,...

Olam Cocoa Commits To Living Incomes For Farmers, A Child Labour Free Supply Chain And Greater Forest Protection By 2030

Olam Cocoa, the world’s foremost focused supplier of cocoa beans and cocoa ingredients, today announced its sustainability ambition for the future of the cocoa...

Video News

Energy & Power

Azura Power Invests In Tobene Power In Senegal, Brings Together Actis, Azura’s Majority Shareholder, With Africa50

The 115MW Tobene Power plant in Senegal, which was part of the Melec Power Gen (“MPG”) portfolio now forms part of Azura Power’s pan-African...

The Bulls Are Back As Oil Heads Towards $60 – Report

OilPrice Intelligence Report Oil prices moved higher at the start of the week as signs of a trade breakthrough between the U.S. and China continue...

Federal Government Pledges Support Towards Completion of Dangote Petroleum Refinery

The Dangote refinery, which is designed to maximise petrol output, will produce enough to allow for a small surplus of that fuel for export. The...

Oando PLC Announces YTD September 2019 Results, Posts N13.1 Billion Profit-After-Tax

Lagos, Nigeria – Oando PLC (referred to as “Oando” or the “Group”), Nigeria’s leading indigenous energy group listed on both the Nigerian and Johannesburg...

Real Estate

2019 Housing Finance In Africa Yearbook Launched With Regional Argument For Investment In Affordable Housing

The Housing Finance in Africa Yearbook is the flagship publication of Centre for Affordable Housing Finance in Africa (CAHF) and remains the only publication...

BUA’s Obu Cement, CCNN set to merge as Group consolidates entire Cement business

announces completion date for new $450million Kalambaina II Plant bringing total capacity to 11million mtpa This morning, the BUA Group announced – in...

Lafarge Africa: Over-Proportional Profitability Increase In Q3 2019 Results

− Strong Q3 EBITDA (pre-IFRS 16) increase of 32,7% vs LY − Operating profit multiplied by 2,7x in Q3 vs LY − Q3 finance costs drop...

Kotoka Ranked Best Airport in West Africa

Ghana's Kotoka International Airport has been adjudged the best airport in West Africa and the fourth-best in the World by the Airport Council International...

Transcorp Hotels Fulfills Post-Privatization Obligations

Abuja, Nigeria October 14, 2019: The National Council on Privatization (NCP) at its meeting today, 1 4 October 2019 presented Transcorp Hotels Plc with...

Enjoy Britain’s spooky, fiery Autumn delights

For many travellers, Autumn is the ideal time to visit Britain. Attractions are generally less crowded than at the height of summer. The country’s...

Ajala.ng launches new Website, offers Seamless Online Travels and Tours services to customers

Lagos, Nigeria, 2 October 2019 - In a bid to provide seamless, pocket-friendly travel and tours services to Nigerian travellers, ajala.ng, an online travel...

Retail - Brick & Click

Konga Yakata Goes Live As Shoppers Deny Sleep To Grab Mega Deals

Thousands of eager shoppers stormed the website of foremost e-commerce giant, Konga to be among the first to grab the mega deals on offer...

Crowds besiege Konga Store at Victoria Island for pre-Konga Yakata experience

Bargain-hungry Nigerians have besieged the new Konga retail store located at Saka Tinubu, Victoria Island, Lagos for a taste of the pre-Konga Yakata shopping...

Konga Yakata Kicks Off with Global Singles Day Shopping Fiesta

All is set for the commencement of the 2019 edition of Konga Yakata, the much-anticipated Black Africa sales of foremost e-commerce giant, Konga. The...

How Online Retailers Can Prep For Success This Black Friday

Retailers hoping to secure their portion of the expected 30% year-on-year online Black Friday growth should ensure that they make payments as easy as...