CBN Approves Providus Bank and Unity Bank Merger
CBN approves Providus Bank and Unity Bank merger. Per a statement by the apex on the X (formerly Twitter), the move is designed to bolster Nigeria’s financial system. This news comes months after Providus Bank made moves to acquire a major stake in Unity Bank. According to the CBN, it
Meta Rolls Out Monetization Tools for Content Creators in Kenya
Meta rolls out monetization tools for content creators in Kenya, which would them allow them earn money. The features, accessible started yesterday, August 6, 2024. It includes in-stream ads and Facebook ads on reels to be placed before, during or after content videos whether prerecorded or live-streamed. This new monetization
High Court Sets Bail Terms for MTN Nigeria Fraudsters
High Court sets bail terms for MTN Nigeria fraudsters amid ₦1.9 billion. The court in Lagos reportedly granted a ₦50 million bail to two persons arraigned for defrauding a telecoms company, MTN Nigeria. The presiding Judge, Justice Akintayo Aluko, granted them bail after hearing two applications from the defendant’s representatives.
Mike Ejeagha, the Legendary Folklore Musician Known as the Gentleman
In July 2024, “Ka Esi Le Onye Isi Oche”, a song which was released in 1983 as part of his album Akuko N’Egwu Vol. 1, gained widespread recognition due to a viral dance challenge inspired by comedian Brain Jotter. Today, we would look into the life and career of the
Jumia’s Revenue Falls 25% in Q2 as Operating Losses Rise to $20 Million
Jumia’s revenue falls 25% in Q2 as operating losses rise to $20 Million less than it did during the same period last year. Gross merchandise value also fell in Q2; it recorded a GMV of $170.1 million compared to $181 million in Q1. Its gross profit saw a 6% decline
Kenyan Mobility Startup Mobius to Shut Down
Kenyan mobility startup Mobius to shut down following failed year-long recovery efforts. Under the Insolvency Act following financial struggles which hindered it from settling suppliers and paying salaries. Per a notice seen by Techpoint Africa, a creditors’ meeting has been set for August 15, 2024, at Mobius Factory in Nairobi, Kenya. To
Standard Bank’s Security Tool Targets Vishing Threats
Standard Bank’s security tool targets vishing threats in South Africa. Once activated and consented to by the client, the feature notifies users of suspicious calls. This move follows a warning about an increase in vishing fraud targeting older people who are approaching retirement or have recently received their cash payouts.
What is a Discounted Payback Period?
In financial analysis, numerous tools and metrics are employed to evaluate the viability of potential investments. One such tool is the Discounted Payback Period (DPBP). This metric provides a measure of the time it takes for a project’s discounted cash flows to recover the initial investment. Unlike the traditional payback
How Does a VC Firm Make Money
Venture Capital (VC) firms play a critical role in the entrepreneurial ecosystem. By providing the necessary capital and resources to start-ups, they help nurture innovative ideas into successful companies. But how do these VC firms make money themselves? In this blog post, we will discuss how does a VC firm
FCCPC Asserts its Orders Against WhatsApp are Based on Legitimate Concerns
Nigeria’s FCCPC (Federal Competition and Consumer Protection Commission) asserts its orders against WhatsApp are based on legitimate concerns about consumer protection and data privacy. This response follows reports that WhatsApp might leave Nigeria over the FCCPC’s orders. The messaging platform allegedly said that complying with the order would make it technically impossible
