After nearly three years of restrictions, Nigerian banks have resumed international transactions on naira-denominated cards, offering customers greater flexibility for global payments.
Yikodeen, Nigeria’s leading safety footwear manufacturer, has raised $1.5 million from Aruwa Capital to scale production, expand across West Africa, and boost local job creation. The investment will fund new equipment, factory upgrades, and digital quality control systems while advancing gender inclusion and social impact.
AfDB has awarded a $1 million grant to South Africa's National Business Initiative to support youth-focused green skills development under the Just Energy Transition programme. The funding aims to strengthen skills systems, create jobs, and promote inclusive economic growth.
The Nigerian Exchange returned 16.57% in H1 2025, but some stocks far outpaced the market. This post highlights the top 10 gainers—driven by earnings, value plays, and sector shifts.
June 2025 was a breakthrough month for African startups, with $365 million raised—pushing total H1 funding to $1.35 billion. Equity and debt contributions signal renewed investor confidence, though Nigeria lags behind.
The IMF projects Nigeria’s fiscal deficit to rise to 4.7% of GDP in 2025, driven by falling oil revenues and increased government spending. While 2024 saw some improvement, the IMF urges urgent policy action, tax reforms, and full implementation of fuel subsidy savings to prevent deeper fiscal instability.
Mediterrania Capital Partners has raised €600 million for its fourth mid-cap fund, aiming to invest in high-potential businesses across North and West Africa. The fund will focus on growth sectors including finance, healthcare, and education.
Wave, the West African fintech disrupting mobile money services, has secured €117 million in fresh funding. The company plans to expand across the region and strengthen its commitment to affordable, inclusive financial services.
Africa has taken a bold step towards financial independence with the launch of PAPSSCARD—its first continental payment card. Designed to reduce reliance on foreign systems, the card enables fast, secure, and affordable cross-border transactions and supports intra-African trade growth.
Aradel Holdings Plc and Wema Bank Plc have joined the NGX 30 Index as part of NGX's half-year review, replacing Conoil and Julius Berger. The shake-up also affected indices in consumer goods, insurance, industrials, and more.