Airtel Africa Launches $110 Million Share Buyback Ahead Of Airtel Money IPO Plans

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Airtel Africa Launches $110 Million Share Buyback Ahead Of Airtel Money IPO Plans

Airtel Africa has unveiled a $110 million share buyback programme as the telecommunications giant moves to strengthen shareholder returns and position itself ahead of the planned listing of its mobile money arm, Airtel Money.

The company disclosed that the repurchase exercise will cover up to one per cent of its issued share capital, with the programme commencing on May 22, 2026, and expected to run until November 27, 2026, unless concluded earlier.

Under the arrangement, Barclays Capital Securities Limited has been appointed to execute the first phase of the buyback through on-market acquisitions of Airtel Africa shares. The repurchased shares will subsequently be cancelled as part of efforts to optimise the company’s capital structure and improve earnings per share.

The telecom operator stated that Barclays would independently acquire between $50 million and $60 million worth of shares under a non-discretionary mandate, while Airtel Africa retains the right to expand the transaction by an additional $50 million, subject to regulatory approvals.

Also read: https://brandspurng.com/2026/05/23/meet-the-future-leaders-being-empowered-through-palmpay-young-stars/

Brandspur Brand News reports that the development comes as Airtel Africa intensifies preparations for a potential initial public offering of Airtel Money, a move analysts believe could reshape Africa’s fintech investment landscape. The planned IPO is projected to raise between $1.5 billion and $2 billion, with London emerging as the leading destination for the listing.

Industry estimates suggest Airtel Money could command a valuation of up to $10 billion amid rising investor appetite for African digital finance platforms.

Airtel Africa, which operates in 14 African countries, recently posted strong financial results for the year ended March 31, 2026, with pretax profit surging to $1.41 billion and revenue climbing to $6.4 billion, driven largely by growth in data services and mobile money operations.

Meet The Future Leaders Being Empowered Through PalmPay Young Stars

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Meet The Future Leaders Being Empowered Through PalmPay Young Stars

Smiles all around as students of Opebi Primary School celebrate their rewards from the PalmPay Young Stars initiative.

Nana Sani, a Primary 4 student at Opebi Primary School in Lagos, emerged as the best-performing student in her school and was awarded a scholarship under the PalmPay Young Stars initiative. It was a proud and emotional moment for her mother, who has worked hard to ensure she completes her elementary education.

Stories like Nana’s reflect the reality for many families across Nigeria. Every day children go to school with the hope that education will lead to a better future. But for many the journey is shaped by financial pressure and other barriers that can make staying in school more difficult.

This is why PalmPay launched Young Stars, an initiative created to recognise and reward high-performing pupils in public primary schools at an important stage in their development. It is designed not only to celebrate academic excellence, but also to encourage ambition, confidence and a stronger commitment to learning.

Through the programme, 60 outstanding pupils received support to help them stay focussed on their education and continue working towards brighter opportunities ahead.

The need for initiatives like this remains significant. According to UNICEF, millions of children in Nigeria are still at risk of missing out on foundational education. While improving access remains critical, sustained support and encouragement also play an important role in helping out-of-school children remain engaged and motivated.

Also read: https://brandspurng.com/2026/05/22/lascopa-warns-lagos-residents-over-rising-sale-of-adulterated-palm-oil-in-markets/

At the official presentation ceremony held at Adeniyi Jones and St. Peter’s Primary schools, the Chief Operating Officer at PalmPay, Mr Samuel Oluyemi gave the students a short financial literacy workshop while encouraging them to strive for the best notwithstanding circumstances.

Mrs. Abaleke, one of the parents of the scholarship recipients expressed profound gratitude to PalmPay: I am happy and I can’t express the amount of joy in my heart. I’m overwhelmed by this opportunity PalmPay has given to my child. I’m grateful to PalmPay for this scholarship, may God reward their efforts with success.”

At the presentation event held at Adeniyi Jones Primary School, the Assistant Head Teacher said in his opening address: “We sincerely appreciate our sponsor (PalmPay), guests, parents, and every individual present here for your support and commitment towards empowering the next generation. To all the beneficiaries, this scholarship is not just financial support, but a motivation to strive for excellence and achieve greater success in life.”
The effect of initiatives like Young Stars extends far beyond the award recipients.
It brings hope to families, motivates teachers, and most importantly, it helps shape a generation that values education; supporting school retention one child at a time.

Through this initiative, PalmPay is nurturing potential, strengthening communities, and helping to build the foundation for a stronger Nigeria.

Phancy Group Announces Strong 2026 First Quarter Results

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Phancy Group Announces Strong 2026 First Quarter Results

Revenue Up 35.4% Year-on-Year API Token Call Volume Surges Nearly 6 Times

HONG KONG SAR – Media OutReach Newswire – 22 May 2026 – Phancy Group Co., Ltd. (“Phancy” or “The Company”, stock code: 6682.HK), a leading general artificial intelligence company, today announced its unaudited consolidated results for the first quarter ended 31 March 2026.

During the period, Phancy achieved revenue of approximately RMB1.458 billion, representing a 35.4% year-on-year increase. Gross profit margin remained at 35.1%. Phancy leveraged its deep expertise in full-stack AI cloud services, to capitalize on the accelerating adoption of localized computing power and strong enterprise demand for AI solutions. The Company achieved robust growth in its core businesses, accelerated product innovation, and secured several major partnerships, sustaining strong operational momentum.

2026 First Quarter Business Highlights:

Unified Enterprise AI Platform Drives Explosive Core Business Growth

Global computing resources remain constrained, while demand for both private enterprise AI deployments and API-based model calls continues to grow rapidly. Phancy’s enterprise-grade AI platform is built on a unified core architecture that seamlessly supports both API calling scenarios and dedicated private deployments. This significantly boosts AI application efficiency and resource utilization. Supported by a mature computing power supply chain developed over many years, Phancy’s deployable computing power resources have increased by over 200%. This enables the Company to effectively meet surging Token demand and consistently deliver stable, high-quality AI services to its customers.

In the first quarter of 2026, API Token call volume surged nearly 6 times compared to the same period in 2025, and already accounted for nearly 40% of the full-year 2025 total. Meanwhile, the Agentic AI business expanded rapidly, with deepening commercial adoption. Orders on hand grew nearly 100% compared to the end of 2025, emerging as a major growth driver for the Company.

AI Technology Iteration Accelerates, Commercialization Beats Expectations

Building on its continued push into digital employee applications and AI empowerment across business units, Phancy has significantly shortened the product development cycle from R&D to commercialization, enhancing overall operational efficiency and customer satisfaction.

As of mid-May 2026, ModelHub XC has completed adaptation and optimization for over 70,000 AI models on domestic chips, achieving more than 70% of its full-year target – well ahead of schedule.

In May, Phancy launched PhanthyMovie, a professional-grade AI video generation platform designed to enhance creativity, control, and stability in video production, enabling standardized and large-scale content creation for the industry.

Leveraging its advanced technology and proven execution capabilities, PhanthyMovie achieved rapid commercial traction. Just days after launch, the Company entered into a strategic cooperation agreement with Huanxi Media, covering approximately US$200 million in AI Token usage. The two parties will also collaborate on the development of a next-generation AI-powered film and television content production platform, further strengthening Phancy’s position in the AI-driven cultural and creative sector.

Core Products Align Closely with Policy Trends, Strengthening Compute-Model Integration

Since May 2026, China’s AI sector has seen a series of positive policy developments focused on computing infrastructure, data element circulation, and open-source compliance governance. Phancy’s core products, including HAMi vGPU and ModelHub XC, are well-aligned with national policy directions and mainstream industry trends.

In terms of computing resource allocation, policies emphasize cross-regional collaboration and broader access to computing power. Phancy’s HAMi vGPU offers unified scheduling and fine-grained resource partitioning, effectively improving utilization rates, optimizing data center energy efficiency, and supporting unified management across multiple chips to boost single-card efficiency.

In data and model governance, the government continues to promote high-quality dataset development and compliance management. ModelHub XC supports multi-model adaptation and optimization, incorporates data traceability and security certification features to help enterprises reduce compliance risks, and uses the EngineX engine for batch adaptation of domestic chips and models. This significantly improves compatibility while enhancing Token output efficiency through targeted model tuning.

Through deep integration of its computing and model layers, Phancy has built a comprehensive “Compute–Model” integrated solution. This addresses key industry needs such as efficient computing utilization, secure data supply, enterprise compliance, and domestic substitution, while strengthening its technological moat. The Company is well positioned to capture policy dividends and industry opportunities, supporting enterprises in their digital and intelligent transformation.

Hashtag: #PhancyGroup

The issuer is solely responsible for the content of this announcement.

About Phancy Group

Phancy Group (6682.HK) is a leading full-stack AI cloud services platform, providing comprehensive solutions for the AI 2.0 era. Our offerings include SageAIOS, HAMi vGPU and ModelHub XC, delivering efficient and scalable AI infrastructure with end-to-end capabilities. We provide a complete solution from heterogeneous compute resource management and optimization to the deployment of intelligent agent models. These solutions empower digital transformation across a wide range of industries, supporting our vision of building a large-scale and efficient “Token Factory.”

Guided by the mission of “AI for Everyone” and positioned as the “Navigator of AI,” Phancy Group is committed to becoming a global leader in Artificial General Intelligence.

LASCOPA Warns Lagos Residents Over Rising Sale Of Adulterated Palm Oil In Markets

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LASCOPA Warns Lagos Residents Over Rising Sale Of Adulterated Palm Oil In Markets

Lagos State Consumer Protection Agency has raised fresh concerns over the increasing circulation of adulterated palm oil across markets in Lagos, warning residents to exercise caution while purchasing the product from traders and distributors.

The agency disclosed that recent consumer complaints and market surveillance operations uncovered the sale of contaminated and artificially enhanced palm oil allegedly being distributed by unscrupulous traders seeking to maximise profits at the expense of public health and consumer safety.

Brandspur Brand News reports that the General Manager of LASCOPA, Afolabi Solebo, warned that some adulterated palm oil products may contain dangerous substances including candle wax, harmful chemicals, artificial colouring agents, and other impurities capable of causing severe health complications.

According to the agency, the contaminated products may expose consumers to food poisoning, stomach-related illnesses, tissue damage, liver complications, and other long-term health risks linked to unsafe food consumption.

LASCOPA advised residents to inspect palm oil carefully before purchase by checking for unusual colour, offensive odour, abnormal thickness, visible sediments, or suspicious appearance that could indicate contamination or adulteration.

Consumers were also encouraged to buy only from trusted and reputable vendors while remaining vigilant about food quality and safety standards within local markets.

Also read: https://brandspurng.com/2026/05/22/fg-introduces-mandatory-drug-tests-for-secondary-school-students-across-nigeria/

As part of ongoing enforcement efforts, the agency confirmed that a shop allegedly involved in the sale of adulterated palm oil was sealed along Idutafa Lane off Oluwa Street near Amodu Tijani Oluwa Mosque in Lagos Island Local Government Area.

The consumer protection agency further warned traders and distributors engaging in the production or sale of adulterated food products to immediately discontinue such activities or risk facing sanctions under Lagos State consumer protection laws.

LASCOPA also urged members of the public to promptly report suspected cases of food adulteration, deceptive trade practices, or consumer rights violations through the agency’s official communication channels for investigation and enforcement action.

The agency reaffirmed its commitment to continuous market monitoring, public sensitisation campaigns, and collaboration with relevant stakeholders to ensure residents have access to safe, wholesome, and quality food products across Lagos State.

FG Introduces Mandatory Drug Tests For Secondary School Students Across Nigeria

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FG Introduces Mandatory Drug Tests For Secondary School Students Across Nigeria

The Federal Government has unveiled a new nationwide policy mandating compulsory drug integrity tests for secondary school students as part of broader efforts to combat rising substance abuse among adolescents in Nigeria.

Under the new education and health guidelines, students seeking admission into secondary schools will now undergo mandatory drug screening at the point of entry, while returning students will also face periodic and unannounced tests during every academic session.

Brandspur Education News reports that the policy forms part of the National Implementation Guidelines Against Drug And Substance Use In Schools In Nigeria, designed to reduce drug abuse cases and create safer learning environments across schools nationwide.

The framework also introduces a structured intervention process for students who test positive, including counselling, treatment, rehabilitation, and temporary suspension for repeated drug-related violations after multiple interventions.

According to the guidelines, students found positive during initial testing will receive counselling and supervised treatment from school authorities, while repeat offenders may be referred to healthcare professionals for specialised rehabilitation support.

The policy further directs schools to collaborate with approved federal and state health institutions to conduct screening procedures and ensure compliance with established medical standards.

Authorities say the initiative is aimed at improving student welfare, protecting academic performance, and addressing growing concerns over the impact of substance abuse on discipline, mental health, and school safety.

The guidelines also prohibit students from possessing or consuming narcotic substances, controlled drugs, or other prohibited materials without authorisation from school management.

Also read: https://brandspurng.com/2026/05/22/silverbird-group-appoints-roy-murray-bruce-as-new-chairman-to-lead-next-phase-of-expansion/

However, students requiring medically approved controlled medications will be expected to disclose such treatments through parents or guardians during admission procedures.

In addition, schools are required to establish disciplinary committees responsible for enforcement, monitoring compliance, and managing intervention procedures linked to drug-related incidents within school environments.

The policy also provides for mandatory pre-test and post-test counselling to prepare students emotionally, reduce anxiety, and ensure proper guidance following test outcomes.

Violent incidents connected to substance abuse, including physical assaults and injuries within schools, are expected to be reported directly to law enforcement authorities under the new regulations.

Education stakeholders say the policy could strengthen anti-drug campaigns among young people, although concerns remain over implementation capacity, student rights protection, and the readiness of schools and healthcare facilities to effectively manage the nationwide programme.

Analysts believe the success of the initiative will depend largely on proper funding, trained counselling personnel, healthcare collaboration, and consistent enforcement across public and private secondary schools nationwide.

Silverbird Group Appoints Roy Murray-Bruce As New Chairman To Lead Next Phase Of Expansion

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Silverbird Group Appoints Roy Murray-Bruce As New Chairman To Lead Next Phase Of Expansion

Silverbird Group has announced the appointment of Roy Murray-Bruce as the new Chairman of the company, marking a major leadership transition for one of Africa’s leading media and entertainment brands.

The appointment comes after decades of growth and expansion led by the Group’s outgoing leadership across multiple sectors including media, entertainment, hospitality, real estate, and strategic business development in Africa and the United Kingdom.

Brandspur Brand News reports that Roy Murray-Bruce brings more than four decades of executive leadership experience and corporate governance expertise to the role, having previously served as President of Silverbird Group during some of the company’s most significant expansion years.

During his previous leadership tenure, the company strengthened its footprint across television, radio broadcasting, cinema operations, retail, and property development while playing a pioneering role in the growth of Cineplex culture in Nigeria and other parts of West Africa.

Also read: https://brandspurng.com/2026/05/22/fastest-growing-pharma-categories-in-nigeria-2026-wellness-products-and-everyday-medicines-see-rising-demand/

Industry observers say the appointment signals Silverbird Group’s intention to continue pursuing aggressive growth, innovation, and market expansion across its business divisions within Africa’s evolving entertainment and media landscape.

The company expressed confidence that the new Chairman will sustain its long-standing commitment to operational excellence, innovation-driven growth, and industry leadership across regional markets.

Analysts also believe Roy Murray-Bruce’s deep institutional experience and understanding of the African entertainment ecosystem could position the company for stronger strategic partnerships and future investment opportunities.

Silverbird Group remains one of Nigeria’s most recognisable entertainment and media brands, with interests spanning broadcasting, cinemas, events, hospitality, and commercial real estate development across multiple markets.

Fastest Growing Pharma Categories In Nigeria 2026: Wellness Products And Everyday Medicines See Rising Demand

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Fastest Growing Pharma Categories In Nigeria 2026: Wellness Products And Everyday Medicines See Rising Demand

Nigeria’s pharmaceutical industry is recording strong growth across multiple healthcare categories in 2026 as consumers place increasing attention on preventive care, wellness management, and access to essential medicines.

Industry stakeholders say demand for over-the-counter treatments, vitamins, dietary supplements, chronic care products, and immunity-support solutions continues to rise across both urban and semi-urban markets.

Pharmacies and healthcare retailers are witnessing stronger consumer interest in products linked to everyday wellness, long-term health support, and routine treatment as awareness around preventive healthcare expands nationwide.

The market is also benefiting from growing self-medication trends for minor health conditions, particularly in areas where access to healthcare services remains limited or costly.

Manufacturers and distributors are responding by strengthening supply chains, expanding pharmacy partnerships, and improving product visibility across physical stores and digital retail platforms.

Brandspur Health News reports that affordability, accessibility, and consumer awareness are becoming major factors influencing pharmaceutical purchasing behaviour as more Nigerians seek cost-effective healthcare solutions.

Healthcare analysts say rising lifestyle-related health concerns and economic pressure are driving stronger demand for products focused on immunity, nutrition, energy support, and chronic condition management.

Digital healthcare services and online pharmacy platforms are equally contributing to market expansion by improving access to medicines and encouraging easier consumer engagement with healthcare products.

Also read: https://brandspurng.com/2026/05/22/consumer-spending-trends-in-lagos-2026-residents-prioritise-essentials-amid-rising-costs/

At the same time, local pharmaceutical manufacturing is attracting greater attention as industry stakeholders push for stronger domestic production capacity and reduced dependence on imported medicines affected by foreign exchange challenges.

Experts believe the fastest-growing pharmaceutical categories in Nigeria will continue to centre around wellness products, preventive healthcare, and everyday treatment solutions used regularly by consumers.

The sector is expected to attract stronger investment interest as healthcare demand rises alongside population growth, urbanisation, and expanding health awareness across the country.

Industry observers say pharmaceutical companies capable of balancing affordability, trust, product quality, and nationwide availability will remain best positioned for long-term growth within Nigeria’s evolving healthcare market.

Consumer Spending Trends In Lagos 2026: Residents Prioritise Essentials Amid Rising Costs

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Consumer Spending Trends In Lagos 2026: Residents Prioritise Essentials Amid Rising Costs

Consumer spending behaviour in Lagos is changing rapidly in 2026 as residents adjust household budgets in response to inflation, rising transport expenses, and continued economic pressure affecting purchasing decisions across the city.

Across supermarkets, neighbourhood markets, shopping centres, and online stores, consumers are increasingly focusing spending on essential goods while cutting back on luxury purchases and non-essential items.

Food, transportation, rent, healthcare, and internet access now account for a significant portion of household expenses as many residents struggle to maintain financial stability amid rising living costs.

Retailers are also recording stronger demand for cheaper alternatives, discounted products, and smaller pack sizes as shoppers become more price-conscious and deliberate before making purchases.

Many Lagos consumers now compare prices across different outlets and digital platforms before buying, a trend forcing businesses to adopt more competitive pricing strategies, promotions, and customer retention campaigns.

Brandspur Banking News Desk reports that economic pressure is encouraging residents to manage spending more carefully while prioritising products and services considered immediately necessary for daily living.

Cashless transactions are equally becoming more dominant as digital payment platforms, mobile banking applications, and transfer services continue gaining wider acceptance across the city’s commercial environment.

Also read: https://brandspurng.com/2026/05/22/how-nigerians-consume-digital-content-in-2026-mobile-video-and-social-media-redefine-audience-behaviour/

Industry analysts say informal retail markets and neighbourhood vendors remain highly important because they offer flexible pricing and easier access to goods for low- and middle-income consumers.

Despite economic challenges, the food and beverage sector continues to experience strong activity, although many households are reducing restaurant visits and relying more heavily on home-cooked meals to manage expenses.

Transportation costs also remain a major concern for residents navigating long commuting distances and fluctuating fuel-related expenses within the city.

Meanwhile, online shopping platforms are attracting stronger engagement among younger consumers seeking convenience, price comparisons, and promotional deals without physically visiting stores.

Market experts believe Lagos will continue to maintain its position as Nigeria’s leading consumer economy, although spending patterns are expected to remain heavily shaped by affordability concerns and broader economic realities throughout 2026.

How Nigerians Consume Digital Content In 2026: Mobile Video And Social Media Redefine Audience Behaviour

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How Nigerians Consume Digital Content In 2026: Mobile Video And Social Media Redefine Audience Behaviour

Nigeria’s digital content industry is undergoing a major transformation in 2026 as millions of consumers increasingly rely on mobile devices and social media platforms for entertainment, news, education, and lifestyle content.

Smartphones remain the primary gateway to online engagement, with platforms such as WhatsApp, TikTok, Instagram, Facebook, and X driving stronger daily interaction across different age groups.

Consumers are increasingly favouring short, visually engaging, and interactive content formats that can be consumed quickly and easily shared across multiple digital platforms.

The growing influence of short-form videos, livestreams, podcasts, and creator-led commentary is also reshaping how media companies, influencers, and brands communicate with audiences competing for limited attention spans online.

Content creators are now adapting storytelling techniques to fit mobile viewing habits by prioritising vertical videos, shorter captions, fast-paced editing, and real-time audience engagement strategies.

Brandspur Brand News reports that digital publishers and marketing agencies are focusing more heavily on retention-based strategies aimed at increasing watch time, engagement rates, and social sharing among younger Nigerian consumers.

Also read: https://brandspurng.com/2026/05/22/fg-launches-ai-powered-govguidenigeria-platform-on-whatsapp-to-improve-access-to-government-services/

Streaming culture is also expanding rapidly as audiences spend more time watching online shows, interviews, podcasts, and entertainment content through internet-enabled devices.

Industry analysts say the cost of mobile data continues to play a major role in shaping digital consumption habits, with many users preferring compressed content formats that require lower bandwidth and faster loading speeds.

Online news consumption is equally growing as Nigerians increasingly depend on digital platforms for breaking news, politics, entertainment updates, sports coverage, and financial information.

Advertisers are now allocating larger portions of marketing budgets toward digital campaigns as brands seek stronger visibility among internet-savvy consumers who spend significant hours online daily.

Experts believe Nigeria’s digital economy will continue to expand as internet penetration improves and creators develop more localised, culturally relatable, and mobile-friendly content tailored to evolving audience preferences.

The competition for online attention is expected to intensify further in 2026 as publishers, influencers, and media companies continue battling for relevance within Nigeria’s fast-changing digital ecosystem.

FG Launches AI-Powered GovGuideNigeria Platform On WhatsApp To Improve Access To Government Services

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FG Launches AI-Powered GovGuideNigeria Platform On WhatsApp To Improve Access To Government Services

The Federal Government has unveiled a new artificial intelligence-driven platform, GovGuideNigeria, as part of efforts to simplify public access to government information and digital services across the country.

The platform, which operates through WhatsApp and a web-based interface, is designed to provide Nigerians with faster and easier access to information from federal ministries, departments, and agencies using conversational AI technology.

According to government officials, GovGuideNigeria supports multiple Nigerian languages including English, Hausa, Igbo, and Yoruba, a move aimed at improving accessibility for underserved populations and reducing language barriers in public service delivery.

Brandspur Brand News reports that the AI-powered platform currently integrates information from more than 35 federal ministries and over 60 government agencies, enabling citizens to obtain verified government information through a simplified digital interface.

The initiative forms part of the Federal Government’s broader digital transformation strategy focused on leveraging artificial intelligence and emerging technologies to improve governance, transparency, and citizen engagement.

Officials said the platform is expected to enhance access to public information for low-literacy communities, rural populations, and digitally excluded groups by offering a more user-friendly communication channel through widely used mobile applications.

Also read: https://brandspurng.com/2026/05/22/ncc-begins-review-of-nigeria-telecoms-policy-as-government-targets-digital-economy-growth/

The project was developed through collaboration involving the National Centre for Artificial Intelligence and Robotics, Meta, and local technology partners working on public-sector digital innovation initiatives.

Bosun Tijani, Minister of Communications, Innovation and Digital Economy, said the platform demonstrates how partnerships between government institutions, technology companies, and local innovators can address real public service challenges through digital innovation.

Industry analysts say the launch highlights Nigeria’s growing interest in adopting artificial intelligence solutions within governance systems as African governments increasingly explore digital tools to improve efficiency, communication, and service delivery.

The rollout of GovGuideNigeria also aligns with ongoing federal efforts to expand digital inclusion, strengthen e-governance infrastructure, and deepen technology adoption across critical sectors of the Nigerian economy.

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