Transcorp Group has delivered an exceptional 2024 financial performance, with a 188% profit increase and 107% revenue growth. Strong execution in power, hospitality, and energy investments solidifies its market leadership. Read more on how Transcorp continues to drive sustainable growth.
Nigeria’s Exports Surge to $50.4 Billion as Weaker Naira and Subsidy Cuts Reshape Trade Balance
Hip-hop mogul Sean 'Diddy' Combs has pleaded not guilty to a fresh indictment alleging he pressured employees into assisting his alleged sex trafficking scheme. The indictment also accuses him of enforcing control through threats and forced labor. His trial is scheduled for May 5.
Moniepoint’s Women in Tech program is growing! Now in its fifth year, the initiative has increased its internship slots from 10 to 15, equipping more women in Africa with the skills and confidence needed to thrive in tech.
Nigerian artists earned over ₦58 billion from Spotify in 2024, marking a record-breaking year for the country’s music industry. With a surge in global streams and playlist features, Nigerian music continues to dominate international charts.
Lagos has cemented its position as one of Africa’s top economic hubs, with its GDP reaching $259 billion in 2023. The state experienced significant growth in early 2024 and aims for further expansion in 2025. Despite its booming economy, challenges such as high inflation and revenue mobilization need to be addressed for sustained growth.
Billionaire Tony Elumelu’s fortune has soared to $2.15 billion, reflecting the success of his investments in Transcorp, UBA, and Heirs Holdings. His commitment to Africapitalism and strategic investments continue to drive economic growth and entrepreneurship in Africa.
Borno State Governor Babagana Zulum has approved N1 billion in grants for 9,403 small businesses in Biu and Hawul as part of efforts to boost local enterprises and reduce poverty. He also launched a 600-unit housing project for teachers and health workers, reaffirming his administration’s dedication to economic and social development.
AfDB and ECOWAS have signed a $12 million grant agreement to implement the REWARD project, enhancing rice production and food security across West Africa. This initiative seeks to reduce import dependency, support local farmers, and strengthen agricultural value chains, aligning with regional development goals.