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Unity Bank has reported a massive loss of ₦62.6 billion for the financial year ending December 31, 2023, marking a sharp contrast to the ₦941 million profit it recorded in 2022. This significant downturn highlights the bank’s ongoing financial struggles…
Prosus, a European-listed subsidiary of South African tech giant Naspers, has announced plans to acquire Just Eat Takeaway.com, a leading food delivery company based in Amsterdam, for $4.3 billion in cash. The deal, which values Just Eat Takeaway shares at…
Kenyan CEOs are raising concerns about an economic slowdown in Kenya due to rising costs and tax pressures, which they say are making it harder for businesses to thrive. A recent survey by the Central Bank of Kenya (CBK), which…
Sendstack, a Nigerian tech startup, has made a bold move that could transform its business. The company, which started as a logistics platform connecting delivery drivers with businesses, has shifted its focus to GPS tracking technology. This new direction is…
Multichoice, the company behind popular pay-TV services DStv and GOtv, has announced another price increase for its subscription packages, marking the second hike within a year. The new rates, which will take effect on March 1, 2025, reflect a significant…
A diesel truckers strike in Nigeria is threatening to plunge millions of people into mobile network blackouts, particularly in Lagos and Ogun States. The strike, organized by the Petroleum Tanker Drivers (PTD), a branch of the National Union of Petroleum…
A Federal High Court in Lagos has ordered the forfeiture of $4.7 million, ₦830.9 million, and several properties linked to Godwin Emefiele, the former Governor of the Central Bank of Nigeria (CBN). This ruling is the latest development in a…
Shares of African e-commerce company Jumia took a sharp dive on Friday, with Jumia’s share price falling 28% in a single day. The stock dropped from $3.88 to $2.82, wiping out a significant chunk of its market value, which now…
For the first time in history, Nigerians have consumed over 1 million terabytes of internet data in a single month. This remarkable milestone was achieved in January 2025, according to data from the Nigerian Communications Commission (NCC). The figure highlights…
Jumia, Africa’s largest e-commerce platform, has made significant efforts to reduce its losses in 2024 through aggressive cost-cutting measures. Despite these efforts, the company reported a loss of $64.7 million for the year. This marks an improvement compared to previous…
